Where and How to Stake DeFiChain (DFI)

Introduction

Staking DeFiChain can be a great option for those who want to hold DFI but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. 1. Obtain DeFiChain (DFI) Tokens

   In order to stake DeFiChain, you need to have it. To obtain DeFiChain, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   MEXC Global	DeFiChain (DFI)	0
   Bitget	DeFiChain (DFI)	0.02
   Gate.io	DeFiChain (DFI)	0.02
   Bake	DeFiChain (DFI)	0.02
   HTX	DeFiChain (DFI)	0.02
   CoinEx	DeFiChain (DFI)	0.02

   See all 6 prices

2. 2. Choose a DeFiChain Wallet

   Once you have DFI, you’ll need to choose a DeFiChain wallet to store your tokens. Here are some good options.

   Platform	Coin	Staking rewards
   Bake	DeFiChain (DFI)	Up to 5 APY

3. 3. Delegate Your DFI

   We recommend using a staking pool when staking DFI. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DFI, which gives them a higher chance of validating transactions and earning rewards. You can do 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 DeFiChain network. You’ll be rewarded with DFI for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.