How to Stake Polkadot (DOT): A Step-by-Step Guide

Introduction

Staking Polkadot can be a great option for those who want to hold DOT but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. Obtain Polkadot (DOT) Tokens
In order to stake Polkadot, you need to have it. To obtain Polkadot, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Nexo Polkadot (DOT) 6.76
PrimeXBT Polkadot (DOT) 6.74
M2 Polkadot (DOT) 6.74
Uphold Polkadot (DOT) 6.74
EarnPark Polkadot (DOT) 6.79
OKX Polkadot (DOT) 6.74
See all 35 prices
2. Choose a Polkadot Wallet
Once you have DOT, you’ll need to choose a Polkadot wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Uphold Polkadot (DOT) Up to 12.5 APY
YouHodler Polkadot (DOT) Up to 15 APY
Bitget Polkadot (DOT) Up to 13 APY
Binance Polkadot (DOT) Up to 8 APY
Bitmart Polkadot (DOT) Up to 1 APY
See all 16 staking rewards
3. Delegate Your DOT
We recommend using a staking pool when staking DOT. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DOT, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
4. Start Validating
You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the Polkadot network. You’ll be rewarded with DOT for these validations.

Platform	Coin	Price
Nexo	Polkadot (DOT)	6.76
PrimeXBT	Polkadot (DOT)	6.74
M2	Polkadot (DOT)	6.74
Uphold	Polkadot (DOT)	6.74
EarnPark	Polkadot (DOT)	6.79
OKX	Polkadot (DOT)	6.74

Platform	Coin	Staking rewards
Uphold	Polkadot (DOT)	Up to 12.5 APY
YouHodler	Polkadot (DOT)	Up to 15 APY
Bitget	Polkadot (DOT)	Up to 13 APY
Binance	Polkadot (DOT)	Up to 8 APY
Bitmart	Polkadot (DOT)	Up to 1 APY

What to be Aware of

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

Latest Movements

Polkadot (DOT) is currently priced at $13.95 with a 24-hour trading volume of $487.28M. The market cap of Polkadot stands at $10.3B, with $1.52B DOT in circulation. For those looking to buy or trade Polkadot, Uphold offers avenues to do so securely and efficiently}

Market cap: $10.3B
24h volume: $487.28M
Circulating supply: $1.52B

See latest information

Frequently Asked Questions About Staking Polkadot (DOT)

What are Polkadot staking rewards?: Polkadot staking rewards are incentives for validating transactions and securing the network by locking up DOT tokens. These rewards are distributed to nominators and validators proportionately. To stay informed on current rates, check Bitcompare for the latest updates and comparison tools.
How often are staking rewards distributed in Polkadot?: Staking rewards for Polkadot are distributed approximately every 24 hours. It's essential to monitor your earnings regularly. Stay informed by using Bitcompare's real-time price comparisons and email alerts for the latest updates.
Is there a minimum amount required to stake Polkadot?: Yes, there is a minimum amount required to stake Polkadot, which can vary over time due to network changes. For the most current information on staking thresholds, utilize Bitcompare's tools to stay updated on the latest changes.
What are the risks associated with staking Polkadot?: Staking Polkadot involves risks such as slashing, where your staked DOT may be reduced for node misbehavior. It's crucial to use Bitcompare's tools to keep track of market sentiment and news to make well-informed decisions.
Can I move my staked Polkadot at any time?: No, there is an unbonding period if you wish to unstake your Polkadot. This process can take several days. It's recommended to use Bitcompare to regularly check updates about any changes to unbonding periods and network updates.
How can I maximize my Polkadot staking rewards?: Maximizing staking rewards involves choosing high-performing validators and staying informed about network updates. Use Bitcompare to access tools like sentiment analysis and news events to ensure your strategies are up-to-date.
What is the inflation rate in Polkadot staking rewards?: Polkadot implements an inflationary model where new tokens are created for staking rewards. The inflation rate can vary. Stay informed on these rates using Bitcompare's real-time tools and updates for the latest information.