Introduction
Staking Dymension is an excellent choice for those looking to hold DYM while earning yield securely and supporting the network. The process may seem overwhelming, especially for first-timers. That's why we've created this guide to help you through it.
Comprehensive Guide
1. Acquire Dymension (DYM) Tokens
To stake Dymension, you first need to acquire it. You can purchase Dymension from various popular exchanges.
View all 36 pricesPlatform Coin Cost PrimeXBT Dymension (DYM) 0.23 Kraken Dymension (DYM) 0.23 Binance Dymension (DYM) 0.23 BingX Dymension (DYM) 0.23 Bitfinex Dymension (DYM) 0.23 Bitget Dymension (DYM) 0.23 2. Select a Dymension Wallet
Once you have DYM, you'll need to select a Dymension wallet to keep your tokens safe. Here are some great options.
View all 13 staking rewardsPlatform Coin Staking benefits Binance Dymension (DYM) Earn up to 3.88% APY Bitget Dymension (DYM) Earn up to 13.8% APY Bitmart Dymension (DYM) Earn up to 1% APY Bitpanda Dymension (DYM) Earn up to 6% APY Chainode Tech Dymension (DYM) Earn up to 9.02% APY Kucoin Dymension (DYM) Earn up to 2.5% APY 3. Delegate Your DYM
We suggest using a staking pool for staking DYM. It's easier and quicker to start. A staking pool consists of validators who pool their DYM, increasing their chances of validating transactions and earning rewards. You can access this via your wallet's interface.
4. Begin Validation
You will need to wait for your deposit to be confirmed by your wallet. Once confirmed, you will automatically validate transactions on the Dymension network. You will be rewarded with DYM for these validations.
Key Considerations
Consider the transaction and staking pool fees. Additionally, there may be a waiting period before you begin earning rewards. The staking pool must generate blocks, which can take some time.
Recent Developments
Dymension (DYM) is currently priced at $13.8 with a 24-hour trading volume of $13.62M. The market cap of Dymension stands at $264.48M, with 222.09M DYM in circulation. For those looking to buy or trade Dymension, Binance offers avenues to do so securely and efficiently
- Market capitalization
- $264.48M
- 24-hour trading volume
- $13.62M
- Circulating supply refers to the total amount of a cryptocurrency or token that is currently available for trading in the market. It excludes tokens that are locked, reserved, or not yet released.
- 222.09M DYM
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