How to Stake Dai (DAI) in the UK

Introduction

Staking Dai can be an excellent option for those who wish to hold DAI while earning AER in a secure manner and contributing to the network. The process may seem a bit overwhelming, particularly the first time you undertake it. That's why we've compiled this guide for you.

Step-by-Step Guide

1. 1. Obtain Dai (DAI) Tokens

   To stake Dai, you need to possess it. To obtain Dai, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Uphold	Dai (DAI)	1
   BingX	Dai (DAI)	1

   View all 26 prices

2. 2. Choose a Dai Wallet

   Once you have DAI, you'll need to choose a Dai wallet to store your tokens. Here are some suitable options.

   Platform	Coin	Staking rewards
   YouHodler	Dai (DAI)	Up to 18% AER
   Binance	Dai (DAI)	Up to 1.6% AER

   View all 8 staking rewards

3. 3. Delegate Your DAI

   We recommend using a staking pool when staking DAI. It's simpler and quicker to get started. A staking pool is a group of validators who combine their DAI, which increases their chances of validating transactions and earning rewards. You can do 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 is confirmed, you will automatically validate transactions on the Dai network. You will be rewarded with DAI for these validations.

What to Be Aware Of

There are transaction and staking pool fees you need to consider. There may also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.