Where and How to Stake Maker (MKR)

Introduction

Staking Maker can be a great option for those who want to hold MKR 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 Maker (MKR) Tokens

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

   Platform	Coin	Price
   Nexo	Maker (MKR)	1,611.75
   PrimeXBT	Maker (MKR)	1,610.5
   M2	Maker (MKR)	1,612.31
   Uphold	Maker (MKR)	1,610.02
   Kraken	Maker (MKR)	1,611.2
   OKX	Maker (MKR)	1,597

   See all 37 prices

2. 2. Choose a Maker Wallet

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

   Platform	Coin	Staking rewards
   YouHodler	Maker (MKR)	Up to 7 APY

3. 3. Delegate Your MKR

   We recommend using a staking pool when staking MKR. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their MKR, 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 Maker network. You’ll be rewarded with MKR 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.