How to Stake Maker (MKR) in Canada

Introduction to Cryptocurrency in Canada

Staking Maker can be an excellent choice for Canadians looking to hold MKR 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 Maker (MKR) Tokens in Canada

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

   Platform	Coin	Cost
   Nexo	Maker (MKR)	2,224.69
   PrimeXBT	Maker (MKR)	1,675.3
   YouHodler	Maker (MKR)	1,814.61
   Binance	Maker (MKR)	1,813.7
   BTSE	Maker (MKR)	1,790.92
   Coinbase	Maker (MKR)	1,509.64

   See all 71 prices in Canada

2. 2. Select a Maker Wallet in Canada

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

   Platform	Coin	Staking rewards in Canada
   YouHodler	Maker (MKR)	Up to 7% APY in Canada

3. 3. Delegate Your MKR in Canada

   We recommend using a staking pool when staking MKR. It's simpler and faster to get started. A staking pool is a group of validators who combine their MKR, 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 Maker network. You'll be rewarded with MKR 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.