How to Stake Dymension (DYM) for better returns

Introduction

Staking Dymension can be an excellent choice for individuals looking to hold DYM while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That's why we have created this comprehensive guide to assist you.

Step-by-Step Guide

1. 1. Acquire Dymension (DYM) Tokens

   To stake Dymension, you first need to acquire it. To obtain Dymension, you can purchase it from these well-known exchanges.

   平台	Coin	Price
   Binance	Dymension (DYM)	0.21 APY
   Kraken	Dymension (DYM)	0.21 APY
   BingX	Dymension (DYM)	0.21 APY
   Bitfinex	Dymension (DYM)	0.21 APY
   Bitget	Dymension (DYM)	0.21 APY
   Bitmart	Dymension (DYM)	0.21 APY

   View all 35 prices

2. 2. Select a Dymension Wallet for Your Needs

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

   平台	Coin	Staking returns
   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 for Enhanced Returns

   We recommend utilizing a staking pool when staking DYM. It is more straightforward and quicker to get started. A staking pool consists of a collective of validators who pool their DYM, enhancing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.

4. 4. Begin Verification

   You will need to wait for your deposit to be confirmed by your wallet. Once it is confirmed, you will automatically validate transactions on the Dymension network. For these validations, you will be rewarded with DYM.

What to Consider in the Chinese Market

When engaging in transactions and participating in staking pools, it's important to factor in the associated fees. Additionally, there may be a waiting period before you begin to receive rewards. The staking pool must successfully generate blocks, which can require some time to accomplish.