How to Stake Maker (MKR) for better returns

Introduction

Staking Maker can be an excellent choice for individuals 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-time users. That's why we have created this comprehensive guide to assist you.

Step-by-Step Guide

1. 1. Acquire Maker (MKR) Tokens

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

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

   View all 71 prices

2. 2. Select a Maker Wallet for Your Needs

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

   Platform	Coin	Staking returns
   YouHodler	Maker (MKR)	Up to 7% APY

3. 3. Delegate Your MKR for Enhanced Returns

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

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.