Staking tutorial for Polkadot & Kusama?

Polkadot and its wild cousin network Kusama have been growing in popularity in the crypto space due to their unique architecture and potential for innovation. As a Polkadot or Kusama token holder, you have the opportunity to stake your tokens and earn rewards while supporting the network's security and operations. Let’s explore how to stake your DOT tokens.

How to Stake Your DOT Tokens?

Staking your DOT tokens is a relatively simple process, but it requires some technical knowledge and the use of a crypto wallet that supports staking. Here are the general steps to stake your DOT tokens

• Set up a wallet that supports staking. There are several wallets that support staking on both Polkadot and Kusama, including Polkadot.js, Talisman, Ledger, or mobile wallets like Fearless or Nova. Choose the one that best fits your needs and preferences.
• Transfer your DOT tokens into your staking wallet. You'll need to send your DOT tokens from your exchange or other wallet to your staking wallet.
• Choose a validator or nomination pool to stake with. Validators operate nodes and verify transactions, while nomination pools are groups of token holders who pool their tokens together to support already chosen validators.
• Nominate your chosen validator or pool. Once you've chosen a validator or pool, you'll need to nominate them with your staked DOT tokens. This process varies depending on the staking interface you're using, but generally involves selecting the validator or pool and specifying the amount of tokens you want to stake.
• Earn rewards. If you've successfully staked your DOT tokens, you'll start earning rewards proportional to the amount of tokens you've staked. Rewards are paid out in DOT tokens and can be claimed periodically depending on the staking interface you're using.

Staking with Polkadot JS

Go to Polkadot JS app and select Network -> Staking

Then go to Accounts -> Nominator

Then you will be asked to pick your stash and controller accounts and then choose up to 16 validators. For more detailed info, visit our previous article DOT token wallets overview and staking options in Polkadot.

You can as well use the Polkadot Staking Dashboard for better user experience.

Staking with Nomination Pools

There are several options for finding nomination pools to stake your DOT tokens with. It's important to do your research and choose a reputable and reliable pool or validator that aligns with your goals and values. Look for pools with a track record of reliable operations, good communication, and fair fee structures.

You can also use the Polkadot JS app, but our preferable way is to use Polkadot Staking Dashboard.

If you search for Polkadotters, you can find us in DOT VALIDATOR ALLIANCE DAO staking pool or Paradox | ParaNodes.io staking pool.

We also created an article called The power of nomination pools on Polkadot, where we go through the nomination process in more detail.