How to Stake Desmos (DSM)

Introduction

Staking Desmos can be an excellent choice for those 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've created this guide to assist you.

Step-by-Step Anleitung

1. 1. Acquire Desmos (DSM) Tokens

   To stake Desmos, you first need to acquire it. To obtain Desmos, you'll need to purchase it. You can choose from these well-known exchanges available in Germany.

2. 2. Select a Desmos Wallet

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

   Plattform	Kryptowährung	Staking rewards
   Stakewolle	Desmos (DSM)	Up to 19,73 % APY

3. 3. Delegate Your DSM

   We recommend using a staking pool when staking DSM. It's simpler and faster to get started. A staking pool is a collective of validators who pool their DSM, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Start Validating

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

What to Consider

There are transaction and staking pool fees you need to consider. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, and this process can take some time.