How to Stake dYdX (ETHDYDX) for optimal returns

Introduction

Staking dYdX can be an excellent choice for those looking to hold ETHDYDX while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That’s why we’ve created this guide to assist you.

Step-by-Step Guide for South Korea's Financial Landscape 1

1. 1. Acquire dYdX (ETHDYDX) Tokens

   To stake dYdX, you first need to acquire it. To obtain dYdX, you'll need to purchase it from a cryptocurrency exchange. You can choose from these popular platforms available in South Korea.

   플랫폼	코인	Price
   PrimeXBT	dYdX (ETHDYDX)	0.16 APY
   BingX	dYdX (ETHDYDX)	0.16 APY
   Bitget	dYdX (ETHDYDX)	0.88 APY
   Bitmart	dYdX (ETHDYDX)	0.16 APY
   Bitpanda	dYdX (ETHDYDX)	1.59 APY
   SwissBorg	dYdX (ETHDYDX)	0.35 APY

   Check out all 9 prices

2. 2. Select a dYdX Wallet

   Once you have ETHDYDX, you'll need to select a dYdX wallet to securely store your tokens. Here are some recommended options that are popular among Korean users.

   플랫폼	코인	Staking 보상
   Bitget	dYdX (ETHDYDX)	Up to 14% APY

3. 3. Delegate Your ETHDYDX in South Korea

   We recommend using a staking pool when staking ETHDYDX. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their ETHDYDX, increasing their chances of validating transactions and earning rewards. You can easily 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 dYdX network. For these validations, you will be rewarded with ETHDYDX.

What to Keep in Mind

You should be aware of the transaction and staking pool fees that apply. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time in the process.