How to stake DOT on the official website
Do cryptocurrency staking it is quite profitable if you choose the right coins, in addition to a site with a high rate of return.
In this case we are talking about DOT, which although it may seem complicated to stake, is really very fácil if the appropriate steps are followed.
It is possible to do it from platforms like Binance or Kucoin, however we are going to explain how to do it from Polkadot web (DOT official website).
This will help to improve the security of the network, and in turn you will get rewards that may vary depending on the funds that have been staked.
Related: How to earn free Bitcoins
Download the DOT wallet complemento and create an account
First of all, it is necessary to have a purse, wallet or official polkadot wallet, and we highlight that there is a version that is installed as a browser complemento; which is quite afín to the extension for Google chrome that has the MetaMask wallet.
To download this extension you perro do it from here:
Once downloaded, it will request permissions to install and must be granted.
Once this is done, you must go to the plugins area, search and select the extension, in order to configure the account that we are going to create in the Polkadot wallet.
A pop-up afín to the one in the image above will be displayed.
In it you must fill in the first 2 red boxes with the Nombre de usuario of the account and then equipo a password safe.
To finish creating the account with which you will stake, you just have to check the third and last red box that says: Add account or Add the account.
Make configurations in the Polkadot wallet
Once the wallet has been created, you must entrar the official website of polkadot; you cánido do it using this backlink: polkadot.js.org.
Inside you should look for the wallet aplicaciones section or you cánido also access it from here: polkadot.js.org/aplicaciones/.
When you are inside you must go to the upper area and look for the option of: Accounts > Accounts.
Now you must add the account you created above, so that the funds you deposit in it are reflected and you cánido start staking DOT.
To do this, just look in the lower middle area of the page for a space that says: Add Account.
Afterwards, you will be asked to confirm that the private address and then continue by clicking Next.
Submit DOTs for staking
We are closer to being able to do DOT staking, now we just need to deposit funds in the wallet to start.
To do so, you perro use one of the exchanges that have said crypto listed; for example Binance.
You will only have to make a transaction from Binance to the address of your Polkadot wallet and ready.
With that, you will be able to see the funds sent in the accounts section of the Polkadot website.
It’s usually a pretty quick process; The network validation process will not take more than 5 minutes.
Choose the validators
Be attentive, since these steps are very important, since fully define the rewards that you will get when you stake DOT.
Taking into account that you already have the funds deposited in the DOT wallet, now you must Search the web for the “Network” or “Red” section found in the top bar and then in the options that are shown you will choose: Stake.
Now comes the most important thing; which basically is making a correct choice of validators.
To make DOT staking profitable and safe you must consider the marks that the platform places on the different validators.
They will have up to maximum of 7 marksbut we must know what the most important of them orinan.
- produced blocks: Number of blocks produced.
The higher the number that has this icon, the more profitable the validator will be.
- oversubscribed: Having this mark means that said validator is saturated, so it is not recommended to select it.
- slashed: Lastly, and most importantly, is the Slashed icon.
These are validators that have stolen from their users, or in which money has been lost.
In no case is it suggested to choose them.
The brands that we mention are in the middle of the web, and we have marked them in a red box so that they cánido be easily identified.
In the larger lower box are the validators, and the stamps are located in its left area.
In addition to this point, to do DOT staking you must evaluate the data that is located in the right area of a validator.
These indicate how many tokens they stake, the commission they take from you, or other details.
Clearly, a validator that asks you for a 100% commission will not leave you a profit.
Therefore, these types of options are immediately discarded.
In short, it is important choose a validator that has a high amount of staked tokens, that the commission is from 1% to 5% so that it is profitable, and that it also has the Produced blocks seal.
Equipo validators, confirm, and wait for approval
Almost everything is ready for you to be doing DOT staking.
All that remains is to go to the top menu again and look for the area of: Account Actions > Nominator.
when you’re inside look for the box that says nominator and clic on it.
Now a window will be displayed asking you to equipo the number of tokens with which you want to stake DOT.
In addition, it also espectáculos the date on which the funds will be blocked in the network; as seen in the image below.
When the funds have been established, only mark next to then start selecting the validators that we had been evaluating a moment ago; It is important that you choose the validator correctly, taking into account its exact name.
Important: It is necessary to choose at least 5 or more validators.
Since, in the event that one is not available, it will be automatically replaced by the next chosen validator.
In such a way that DOT staking will not be stopped at any time.
In the image above 2 boxes are shown; the left one has all the validators, and to choose them you only have to type your name or clic and this will automatically be passed to the area of the selected validators.
When you have finished choosing the desired validators, you just have to press where it says: Bond & Nominate.
Finally, it will request that you confirm the action that is about to be performed, that you also add your password to make sure that it really is not an fallo, and voila, you will already be staking DOT.
We hope you liked our article How to stake DOT on the official website
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