How to Stake DeFiChain (DFI)

Introduction

Staking DeFiChain can be an excellent choice for those looking to hold DFI while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.

Step-by-Step Guide for South African Investors

1. 1. Acquire DeFiChain (DFI) Tokens

   To stake DeFiChain, you first need to acquire it. To obtain DeFiChain, you'll need to buy it. You can select from these popular exchanges available in South Africa.

   Platform	Mint	Cost
   Bake	DeFiChain (DFI)	0,0007162
   Bitget	DeFiChain (DFI)	0,03
   CoinEx	DeFiChain (DFI)	0
   Gate.io	DeFiChain (DFI)	0,000817
   HTX	DeFiChain (DFI)	0
   MEXC Global	DeFiChain (DFI)	0,000857

   View all 11 prices

2. 2. Select a DeFiChain Wallet

   Once you have DFI, you'll need to choose a DeFiChain wallet to store your tokens securely. Here are some solid options to consider.

   Platform	Mint	Staking rewards in South Africa
   Bake	DeFiChain (DFI)	Up to 2,33% APY

3. 3. Delegate Your DFI

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

What to Keep in Mind

There are transaction and staking pool fees you need to take into account. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this process can take some time.