How to Stake dYdX (Wormhole) (DYDX) for better returns

Introduction

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

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

   平台	Coin	Price
   Nexo	dYdX (Wormhole) (DYDX)	0.62 APY
   Binance	dYdX (Wormhole) (DYDX)	0.62 APY
   BTSE	dYdX (Wormhole) (DYDX)	0.64 APY
   Kraken	dYdX (Wormhole) (DYDX)	0.62 APY
   OKX	dYdX (Wormhole) (DYDX)	0.66 APY
   Uphold	dYdX (Wormhole) (DYDX)	0.58 APY

   View all 46 prices

2. 2. Select a dYdX (Wormhole) Wallet for Your Needs

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

   平台	Coin	Staking returns
   Binance	dYdX (Wormhole) (DYDX)	Up to 2.19% APY

   View all 4 staking rewards available

3. 3. Delegate Your DYDX for Enhanced Returns

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

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.