How to Stake Dymension (DYM)

Introduction

Staking Dymension can be an excellent choice for those looking to hold DYM 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 Dymension (DYM) Tokens

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

   E-platform	Coin	Cost
   PrimeXBT	Dymension (DYM)	0.11 APY
   Binance	Dymension (DYM)	0.11 APY
   Kraken	Dymension (DYM)	0.11 APY
   BingX	Dymension (DYM)	0.11 APY
   Bitfinex	Dymension (DYM)	0.11 APY
   Bitget	Dymension (DYM)	0.11 APY

   See all 36 prices in Uganda

2. 2. Select a Dymension Wallet

   Once you have DYM, you'll need to select a Dymension wallet to securely store your tokens. Here are some reliable options to consider.

   E-platform	Coin	Staking rewards in Uganda
   Binance	Dymension (DYM)	Up to 3.88% APY
   Bitget	Dymension (DYM)	Up to 13.8% APY
   Bitmart	Dymension (DYM)	Up to 1% APY
   Bitpanda	Dymension (DYM)	Up to 6% APY
   Chainode Tech	Dymension (DYM)	Up to 9.02% APY
   Kucoin	Dymension (DYM)	Up to 2.5% APY

   View all 13 staking rewards available.

3. 3. Delegate Your DYM

   We recommend using a staking pool when staking DYM. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their DYM, 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 Dymension network. You'll be rewarded with DYM 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.