Bitcoin

Polkadot

Nova

<h4 style="color: #252525;"><a href="https://www.altcoinbuzz.io/?s=staking" target="_blank" rel="noopener">Staking</a> is one good way to put your crypto to use in a bear market. Staking simply refers to locking up your crypto for a period of time in a protocol to help the operations of that protocol.</h4> 
Also, staking is a common feature for <a href="https://www.altcoinbuzz.io/?s=proof-of-stake" target="_blank" rel="noopener">proof-of-stake</a> networks such as Polkadot and Ethereum. New users can find it challenging to stake their cryptocurrencies. But staking isn’t that complex, especially with a token such as Polkadot’s DOT. In this article, we’ll give you a good way to do it. 
<h5>How to Stake DOT</h5> 
<a href="https://www.coingecko.com/en/coins/polkadot" target="_blank" rel="noopener">DOT</a> is Polkadot’s native token and It is first a governance token. And by that, we mean holders have a say in what goes on in the network. Secondly, you can stake DOT to earn rewards.&nbsp; 
So, there are different ways to go about staking your DOT. But it depends on your level of expertise. Now, let’s look at an easier pathway. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 2/ Polkadot's Nomination Pools 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f5f3.png" alt="🗳" class="wp-smiley" style="height: 1em; max-height: 1em;"> Nomination pools let you stake natively with as little as 1 DOT. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"> It's one of the easiest ways to support the ecosystem. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f44c.png" alt="👌" class="wp-smiley" style="height: 1em; max-height: 1em;"> Set it, and forget it. 
 Check out this thread to learn more <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/fEruVyEtCx">https://t.co/fEruVyEtCx</a> 
 — Polkadot (@Polkadot) <a href="https://twitter.com/Polkadot/status/1714566395227242579?ref_src=twsrc%5Etfw">October 18, 2023</a>
</blockquote> 
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<ul> 
 <li style="color: #252525;">Using Nomination Pools</li> 
</ul> 
This is one of the easiest ways to support the system. You can stake natively with as little as one DOT. Nomination pools are a new feature. They allow users to pool their DOT tokens together on-chain to nominate validators and get rewards. This in turn improves the system’s scalability. And keeps the network secure and decentralized by incentivizing native staking. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 With nomination pools, users pool their DOT together to nominate collectively, improving the system’s scalability and helping keep the network secure and decentralized by incentivizing native staking. 
 Learn more: <a href="https://t.co/0924hgpQFK">https://t.co/0924hgpQFK</a> 
 — Polkadot (@Polkadot) <a href="https://twitter.com/Polkadot/status/1587511858457632776?ref_src=twsrc%5Etfw">November 1, 2022</a>
</blockquote> 
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It’s important to say that staking via the nomination pool is perfect if you have less DOT. And you are seeking a more passive-staking experience. The easiest way to join nomination pools is via the Polkadot Staking Dashboard. However, experienced users can also participate via Polkadot-JS apps. Joining a nomination pool via the <a href="https://staking.polkadot.network/?ref=cms.polkadot.network&amp;utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=nomination+pools+blog&amp;utm_content=polkadot&amp;utm_term=twitter+announcement#/overview" target="_blank" rel="noopener">Staking Dashboard</a> is as simple as: 
<ol> 
 <li>Connecting your account to the dashboard.</li> 
 <li>Head to the “Pools” tab and click the “Join” button. You can click the “All Pools” button. This will allow you to browse all available nomination pools.</li> 
</ol> 
<img decoding="async" class="alignnone size-full wp-image-126206" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1.png" alt="" width="2506" height="846" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1.png 2506w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1-300x101.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1-1024x346.png 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1-768x259.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1-1536x519.png 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1-2048x691.png 2048w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1-696x235.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1-1068x361.png 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-step-1-1244x420.png 1244w" sizes="(max-width: 2506px) 100vw, 2506px"> 
<ul> 
 <li style="color: #252525;">The next step is to find the pool you would like to join and click the “Join” button next to it.</li> 
</ul> 
<img decoding="async" class="alignnone size-full wp-image-126207" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-2.png" alt="" width="491" height="86" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-2.png 491w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-2-300x53.png 300w" sizes="(max-width: 491px) 100vw, 491px"> 
Enter the amount you want to bond. The page presents you with the option to activate a permissionless reward claim. This means anyone can claim your rewards on your behalf. Once ready, click “Submit.“ 
<img decoding="async" class="alignnone size-full wp-image-126208" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-3.png" alt="" width="612" height="353" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-3.png 612w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/DOT-3-300x173.png 300w" sizes="(max-width: 612px) 100vw, 612px"> 
After signing the extrinsic, the “Pools” page will show up. It will display information about the nomination pool you joined. 
<img decoding="async" class="alignnone size-full wp-image-126209" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/final-dot.png" alt="" width="1830" height="780" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/final-dot.png 1830w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/final-dot-300x128.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/final-dot-1024x436.png 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/final-dot-768x327.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/final-dot-1536x655.png 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/final-dot-696x297.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/final-dot-1068x455.png 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/final-dot-985x420.png 985w" sizes="(max-width: 1830px) 100vw, 1830px"> 
Keep in mind that you can only participate in a pool with a transferable balance. And the amount you participate in is taken from your account to the nomination pool. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Polkadot in Action — <a href="https://twitter.com/hashtag/StakeDOT?src=hash&amp;ref_src=twsrc%5Etfw">#StakeDOT</a> with Nova Wallet! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f95e.png" alt="🥞" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Max rewards, no added fees or commissions, top level security — all availble with the easiest UI for staking on <a href="https://twitter.com/Polkadot?ref_src=twsrc%5Etfw">@Polkadot</a>! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f929.png" alt="🤩" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Start staking your DOT securely with Nova's Super Simple Staking today! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f496.png" alt="💖" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Find out more! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/WHUbJlqwan">pic.twitter.com/WHUbJlqwan</a> 
 — Nova Wallet (@NovaWalletApp) <a href="https://twitter.com/NovaWalletApp/status/1713947948713640389?ref_src=twsrc%5Etfw">October 16, 2023</a>
</blockquote> 
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You can also stake in ecosystem wallets such as Nova. 
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<h5 style="color: #252525;">Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. </h5> 
The post <a rel="nofollow" href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/the-latest-guide-to-stake-dot/">The Latest Guide to Stake DOT</a> appeared first on <a rel="nofollow" href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

The Latest Guide to Stake DOT

Altcoin Buzz

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