Where & how to stake Dai (DAI)

Introduction

Staking Dai can be a great option for those who want to hold DAI 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

1. 1. Obtain Dai (DAI) tokens

   In order to stake Dai, you need to have it. To obtain Dai, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	Dai (DAI)	$0.9999
   Uphold	Dai (DAI)	$0.9999
   Wirex	Dai (DAI)	$1
   EarnPark	Dai (DAI)	$0.999
   Klink	Dai (DAI)	$0.9991
   Kraken	Dai (DAI)	$1

   See all 17 prices

2. 2. Choose a Dai wallet

   Once you have DAI, you’ll need to choose a Dai wallet to store your tokens. Here are some good options.

   Platform	Coin	Staking rewards
   Klink	Dai (DAI)	Up to 4.15% APY
   Binance	Dai (DAI)	Up to 3.9% APY
   MyCointainer	Dai (DAI)	Up to 1% APY

   See all 4 staking rewards

3. 3. Delegate your DAI

   We recommend using a staking pool when staking DAI. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DAI, which gives them a higher chance of validating transactions and earning rewards. You can do 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 Dai network. You’ll be rewarded with DAI for these validations.

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.