Last updated on January 20th, 2022
You may have heard of staking cryptocurrencies, and one of the more popular ones that you can stake is Polkadot (DOT).
Here’s how you can stake DOT tokens on the Kraken platform:
How to stake DOT on Kraken
Here are 3 steps to stake DOT on Kraken:
- Buy or send DOT to Kraken
- Go to the ‘Earn’ tab on Kraken and select DOT
- Select the amount of DOT you wish to stake
And here is each step explained further:
Buy or send DOT to Kraken
The first thing you’ll need to do is to either buy or send DOT to the Kraken platform.
You can check out my guide on how to send DOT to Kraken to find out more.
Go to the ‘Earn’ tab on Kraken and select DOT
Once you have DOT on Kraken’s platform, you will need to select the ‘Earn‘ tab,
and then select the ‘Stake‘ icon next to DOT.
Select the amount of DOT you wish to stake
The next page will ask you to enter the amount of DOT you wish to stake.
You can view other details, such as:
- The reward payout interval
- Estimated rewards that you’ll receive (in %)
- The minimum amount of DOT to stake
After pressing the ‘Stake‘ button, your DOT will be staked.
You should be able to receive DOT rewards to your Kraken wallet twice a week.
Staking DOT on Kraken allows you to accumulate more DOT in the long run.
This will be advantageous if you are intending to buy and hold DOT!
Are you passionate about personal finance and want to earn some flexible income?