How to Stake Dymension (DYM)

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. 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
   Binance	Dymension (DYM)	0,23
   Kraken	Dymension (DYM)	0,22
   BingX	Dymension (DYM)	0,23
   Bitfinex	Dymension (DYM)	0,22
   Bitget	Dymension (DYM)	0,23
   Bitmart	Dymension (DYM)	0,23

   View all 35 prices

2. 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 29,9% 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. 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. 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.