How to Stake dYdX (Wormhole) (DYDX) for optimal returns

Introduction

Staking dYdX (Wormhole) can be an excellent choice for those looking to hold DYDX 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 (Wormhole) (DYDX) Tokens

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

   플랫폼	코인	Price
   Nexo	dYdX (Wormhole) (DYDX)	0.61 APY
   Binance	dYdX (Wormhole) (DYDX)	0.61 APY
   BTSE	dYdX (Wormhole) (DYDX)	0.64 APY
   Kraken	dYdX (Wormhole) (DYDX)	0.61 APY
   OKX	dYdX (Wormhole) (DYDX)	0.6 APY
   Uphold	dYdX (Wormhole) (DYDX)	0.58 APY

   Check out all 46 prices

2. 2. Select a dYdX (Wormhole) Wallet

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

   플랫폼	코인	Staking 보상
   Binance	dYdX (Wormhole) (DYDX)	Up to 2.19% APY

   Check out all 4 staking rewards available.

3. 3. Delegate Your DYDX in South Korea

   We recommend using a staking pool when staking DYDX. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their DYDX, 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 (Wormhole) network. For these validations, you will be rewarded with DYDX.

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.