How to Stake Dymension (DYM)

Introduction

Staking Dymension can be an excellent choice for those looking to hold DYM 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 Dymension (DYM) Tokens

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

   Plattform	Kryptowährung	Price
   Binance	Dymension (DYM)	0,28 APY
   Kraken	Dymension (DYM)	0,28 APY
   BingX	Dymension (DYM)	0,28 APY
   Bitfinex	Dymension (DYM)	0,28 APY
   Bitget	Dymension (DYM)	0,28 APY
   Bitmart	Dymension (DYM)	0,28 APY

   View all 35 prices

2. 2. Select a Dymension Wallet

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

   Plattform	Kryptowährung	Staking rewards
   Binance	Dymension (DYM)	Up to 29,9 % APY
   Bitget	Dymension (DYM)	Up to 13,8 % APY
   Bitmart	Dymension (DYM)	Up to 1 % APY
   Bitpanda	Dymension (DYM)	Up to 6 % APY
   Chainode Tech	Dymension (DYM)	Up to 9,02 % APY
   Kucoin	Dymension (DYM)	Up to 2,5 % APY

   Discover all 13 staking rewards available

3. 3. Delegate Your DYM

   We recommend using a staking pool when staking DYM. It's simpler and faster to get started. A staking pool is a collective of validators who pool their DYM, 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 Dymension network. For these validations, you will be rewarded with DYM.

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.