How to Stake Dymension (DYM): A Step-by-Step Guide for South Africans

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 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. Acquire Dymension (DYM) Tokens
To stake Dymension, you first need to acquire it. To obtain Dymension, you'll need to buy it. You can select from these popular exchanges available in South Africa.
Platform Mint Cost
PrimeXBT Dymension (DYM) 0,07
Binance Dymension (DYM) 0,07
Kraken Dymension (DYM) 0,07
BingX Dymension (DYM) 0,07
Bitfinex Dymension (DYM) 0,07
Bitget Dymension (DYM) 0,07
View all 36 prices

Platform	Mint	Cost
PrimeXBT	Dymension (DYM)	0,07
Binance	Dymension (DYM)	0,07
Kraken	Dymension (DYM)	0,07
BingX	Dymension (DYM)	0,07
Bitfinex	Dymension (DYM)	0,07
Bitget	Dymension (DYM)	0,07

2. Select a Dymension Wallet

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

Platform	Mint	Staking rewards in South Africa
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. 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. 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 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.