Introduction
Staking Dogecoin can be a great option for those who want to hold DOGE 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 Dogecoin (DOGE) Tokens
In order to stake Dogecoin, you need to have it. To obtain Dogecoin, you'll need to purchase it. You can choose from these popular exchanges.
2. Choose a Dogecoin Wallet
Once you have DOGE, you’ll need to choose a Dogecoin wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards Bitmart Dogecoin (DOGE) Up to 0.5 APY 3. Delegate Your DOGE
We recommend using a staking pool when staking DOGE. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DOGE, 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 Dogecoin network. You’ll be rewarded with DOGE 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.
Latest Movements
Dogecoin (DOGE) is currently priced at $0.5 with a 24-hour trading volume of $7,642,374,334. The market cap of Dogecoin stands at $60,180,232,288, with $146,967,556,383.71 DOGE in circulation. For those looking to buy or trade Dogecoin, Bitmart offers avenues to do so securely and efficiently}
- Market cap
- $60.18B
- 24h volume
- $7.64B
- Circulating supply
- $146.97B
Latest Articles About Crypto Staking
Community Articles
Can cryptocurrency prices be manipulated?
A post by William Parvez
Dogecoin Owner’s New Shiba Inu Caught Up in NEIRO Memecoin Controversy
Shaurya Malwa, the Deputy Managing Editor for CoinDesk's Data & Tokens team, reported on a recent...