How to Stake dYdX (Wormhole) (DYDX): A Comprehensive Guide for the UK

Introduction

Staking dYdX (Wormhole) can be an excellent option for those who wish to hold DYDX 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. Obtain dYdX (Wormhole) (DYDX) Tokens

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

Platform	Coin	Price
Nexo	dYdX (Wormhole) (DYDX)	0.17
Binance	dYdX (Wormhole) (DYDX)	0.17
BTSE	dYdX (Wormhole) (DYDX)	0.64
Kraken	dYdX (Wormhole) (DYDX)	0.17
OKX	dYdX (Wormhole) (DYDX)	0.66
Uphold	dYdX (Wormhole) (DYDX)	0.58

View all 46 prices

2. Choose a dYdX (Wormhole) Wallet
Once you have DYDX, you'll need to choose a dYdX (Wormhole) wallet to store your tokens. Here are some suitable options.
Platform Coin Staking rewards
Binance dYdX (Wormhole) (DYDX) Up to 2.19% AER
View all 4 staking rewards
3. Delegate Your DYDX
We recommend using a staking pool when staking DYDX. It's simpler and quicker to get started. A staking pool is a group of validators who combine their DYDX, which increases their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
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 dYdX (Wormhole) network. You will be rewarded with DYDX for these validations.

Platform	Coin	Staking rewards
Binance	dYdX (Wormhole) (DYDX)	Up to 2.19% AER

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.