How to Stake Desmos (DSM) for better returns

Introduction

Staking Desmos can be an excellent choice for individuals looking to hold DSM while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That's why we have created this comprehensive guide to assist you.

Step-by-Step Guide

1. 1. Acquire Desmos (DSM) Tokens

   To stake Desmos, you first need to acquire it. To obtain Desmos, you can purchase it from these well-known exchanges.

2. 2. Select a Desmos Wallet for Your Needs

   Once you have DSM, you'll need to select a Desmos wallet to securely store your tokens. Here are some excellent options to consider.

   Platform	Coin	Staking returns
   Stakewolle	Desmos (DSM)	Up to 19.73% APY

3. 3. Delegate Your DSM for Enhanced Returns

   We recommend utilizing a staking pool when staking DSM. It is more straightforward and quicker to get started. A staking pool consists of a collective of validators who pool their DSM, enhancing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.

4. 4. Begin Verification

   You will need to wait for your deposit to be confirmed by your wallet. Once it is confirmed, you will automatically validate transactions on the Desmos network. For these validations, you will be rewarded with DSM.

What to Consider in the Chinese Market

When engaging in transactions and participating in staking pools, it's important to factor in the associated fees. Additionally, there may be a waiting period before you begin to receive rewards. The staking pool must successfully generate blocks, which can require some time to accomplish.