How to Stake dYdX (ETHDYDX)

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 might seem a bit overwhelming, particularly if you're doing it for the first time. That's why we've created this guide specifically for you.

Step-by-Step Guide for Ugandan Investors

1. 1. Acquire dYdX (ETHDYDX) Tokens

   To stake dYdX, you first need to acquire it. To obtain dYdX, you will have to buy it. You can select from these well-known exchanges available in Uganda.

   E-platform	Coin	Cost
   BingX	dYdX (ETHDYDX)	0.62 APY
   Bitget	dYdX (ETHDYDX)	0.88 APY
   Bitmart	dYdX (ETHDYDX)	0.62 APY
   Bitpanda	dYdX (ETHDYDX)	1.59 APY
   SwissBorg	dYdX (ETHDYDX)	0.62 APY

   See all 8 prices in Uganda

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 reliable options to consider.

   E-platform	Coin	Staking rewards in Uganda
   Bitget	dYdX (ETHDYDX)	Up to 14% APY

3. 3. Delegate Your ETHDYDX

   We recommend using a staking pool when staking ETHDYDX. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their ETHDYDX, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 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 dYdX network. You'll be rewarded with ETHDYDX for these validations.

What to Keep in Mind

There are transaction and staking pool fees you need to keep in mind. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, which can take a bit of time.