How to Stake Dymension (DYM) in Canada

Introduction to Cryptocurrency in Canada

Staking Dymension can be an excellent choice for Canadians looking to hold DYM while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide specifically for you.

Step-by-Step Guide for Canadians

1. 1. Acquire Dymension (DYM) Tokens in Canada

   To stake Dymension, you first need to acquire it. To obtain Dymension, you'll need to purchase it from one of these popular Canadian exchanges.

   Platform	Coin	Cost
   Binance	Dymension (DYM)	0.21
   Kraken	Dymension (DYM)	0.21
   BingX	Dymension (DYM)	0.21
   Bitfinex	Dymension (DYM)	0.2
   Bitget	Dymension (DYM)	0.21
   Bitmart	Dymension (DYM)	0.21

   See all 35 prices in Canada

2. 2. Select a Dymension Wallet in Canada

   Once you have DYM, you'll need to choose a Dymension wallet to store your tokens. Here are some great options available in Canada.

   Platform	Coin	Staking rewards in Canada
   Binance	Dymension (DYM)	Up to 29.9% APY in Canada
   Bitget	Dymension (DYM)	Up to 13.8% APY in Canada
   Bitmart	Dymension (DYM)	Up to 1% APY in Canada
   Bitpanda	Dymension (DYM)	Up to 6% APY in Canada
   Chainode Tech	Dymension (DYM)	Up to 9.02% APY in Canada
   Kucoin	Dymension (DYM)	Up to 2.5% APY in Canada

   See all 13 staking rewards in Canada

3. 3. Delegate Your DYM in Canada

   We recommend using a staking pool when staking DYM. It's simpler and faster to get started. A staking pool is a group of validators who combine their DYM, which increases their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Start Validating

   You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the Dymension network. You'll be rewarded with DYM for these validations.

What Canadians Should Be Aware Of

In Canada, it's important to consider transaction and staking pool fees. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, which can take some time.