Where & how to stake Polkadot (DOT)

Introduction

Staking Polkadot can be a great option for those who want to hold DOT 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 Polkadot (DOT) tokens

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

   Platform	Coin	Price
   Bitpanda	Polkadot (DOT)	$4.14
   M2	Polkadot (DOT)	$4.12
   YouHodler	Polkadot (DOT)	$4.12
   Uphold	Polkadot (DOT)	$4.69
   Wirex	Polkadot (DOT)	$4.14
   EarnPark	Polkadot (DOT)	$4.14

   See all 23 prices

2. 2. Choose a Polkadot wallet

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

   Platform	Coin	Staking rewards
   YouHodler	Polkadot (DOT)	Up to 14% APY
   Uphold	Polkadot (DOT)	Up to 14% APY
   Bitpanda	Polkadot (DOT)	Up to 14% APY
   Ledger	Polkadot (DOT)	Up to 14% APY
   Bitmart	Polkadot (DOT)	Up to 4% APY
   Binance	Polkadot (DOT)	Up to 10.9% APY

   See all 19 staking rewards

3. 3. Delegate your DOT

   We recommend using a staking pool when staking DOT. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DOT, 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 Polkadot network. You’ll be rewarded with DOT 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.