How to Stake dYdX (Wormhole) (DYDX)

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 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 (Wormhole) (DYDX) Tokens

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

   E-platform	Coin	Cost
   Nexo	dYdX (Wormhole) (DYDX)	0.67 APY
   Binance	dYdX (Wormhole) (DYDX)	0.67 APY
   BTSE	dYdX (Wormhole) (DYDX)	0.64 APY
   Kraken	dYdX (Wormhole) (DYDX)	0.67 APY
   OKX	dYdX (Wormhole) (DYDX)	0.66 APY
   Uphold	dYdX (Wormhole) (DYDX)	0.58 APY

   See all 46 prices in Uganda

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 reliable options to consider.

   E-platform	Coin	Staking rewards in Uganda
   Binance	dYdX (Wormhole) (DYDX)	Up to 2.19% APY

   View all 4 staking rewards available.

3. 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 collective of validators who combine their DYDX, 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 (Wormhole) network. You'll be rewarded with DYDX 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.