How to Stake dYdX (DYDX): A Step-by-Step Guide

Introduction

Staking dYdX can be a great option for those who want to hold DYDX 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. Obtain dYdX (DYDX) Tokens
In order to stake dYdX, you need to have it. To obtain dYdX, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Nexo dYdX (DYDX) $1.1
Bitpanda dYdX (DYDX) $1.13
Uphold dYdX (DYDX) $1.12
Kraken dYdX (DYDX) $1.1
OKX dYdX (DYDX) $1.14
Binance dYdX (DYDX) $1.1
See all 14 prices
2. Choose a dYdX Wallet
Once you have DYDX, you’ll need to choose a dYdX wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards
Binance dYdX (DYDX) Up to 7.1% APY
3. Delegate Your DYDX
We recommend using a staking pool when staking DYDX. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DYDX, which gives them a higher chance of validating transactions and earning rewards. You can do 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 dYdX network. You’ll be rewarded with DYDX for these validations.

Platform	Coin	Price
Nexo	dYdX (DYDX)	$1.1
Bitpanda	dYdX (DYDX)	$1.13
Uphold	dYdX (DYDX)	$1.12
Kraken	dYdX (DYDX)	$1.1
OKX	dYdX (DYDX)	$1.14
Binance	dYdX (DYDX)	$1.1

Platform	Coin	Staking rewards
Binance	dYdX (DYDX)	Up to 7.1% APY

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.

Latest Movements

dYdX (DYDX) is currently priced at $17.98 with a 24-hour trading volume of $84.17M. The market cap of dYdX stands at 724.52M, with $645.66M DYDX in circulation. For those looking to buy or trade dYdX, Binance offers avenues to do so securely and efficiently.

Market cap: $724.52M
24h Volume: $84.17M
Circulating supply: $645.66M

See latest information

Frequently Asked Questions About Staking dYdX (DYDX)

What is dYdX staking rewards?: dYdX staking rewards refer to the incentives provided to users who participate in staking their DYDX tokens to help secure the network and validate transactions. Stakers earn rewards in the form of additional DYDX tokens for their contribution to the network.
How can I start staking dYdX tokens?: To start staking dYdX tokens, you can use the dYdX platform or other supported staking platforms. Make sure to research and choose a reputable platform that offers staking services for DYDX tokens. Always stay informed about the latest staking options and rates on Bitcompare.
What are the risks associated with dYdX staking?: Staking comes with certain risks such as potential loss of staked tokens due to network issues or vulnerabilities. It's important to stay updated on the latest security measures and best practices for staking. Bitcompare provides tools for monitoring real-time rates and staying informed about dYdX news events to help mitigate risks.
How often are dYdX staking rewards distributed?: The frequency of dYdX staking rewards distribution can vary depending on the specific staking platform or network protocol. It's important to check the terms and conditions of the staking service you are using and stay informed about any updates or changes in reward distribution schedules on Bitcompare.
Can I unstake my dYdX tokens at any time?: The ability to unstake dYdX tokens may depend on the specific staking platform or network protocol. Always review the unstaking process and any associated lock-up periods before staking your tokens. Stay informed about the latest unstaking options and procedures on Bitcompare.