How to Stake dYdX (ETHDYDX) for better returns

Introduction

Staking dYdX can be an excellent choice for individuals looking to hold ETHDYDX 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 dYdX (ETHDYDX) Tokens

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

   Platform	Coin	Price
   PrimeXBT	dYdX (ETHDYDX)	0.16 APY
   BingX	dYdX (ETHDYDX)	0.16 APY
   Bitget	dYdX (ETHDYDX)	0.88 APY
   Bitmart	dYdX (ETHDYDX)	0.16 APY
   Bitpanda	dYdX (ETHDYDX)	1.59 APY
   SwissBorg	dYdX (ETHDYDX)	0.35 APY

   View all 9 prices

2. 2. Select a dYdX Wallet for Your Needs

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

   Platform	Coin	Staking returns
   Bitget	dYdX (ETHDYDX)	Up to 14% APY

3. 3. Delegate Your ETHDYDX for Enhanced Returns

   We recommend utilizing a staking pool when staking ETHDYDX. It is more straightforward and quicker to get started. A staking pool consists of a collective of validators who pool their ETHDYDX, 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 dYdX network. For these validations, you will be rewarded with ETHDYDX.

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.