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How to stake Dash | KoinX

how to stake dash guide
A step-by-step guide to stake Dash

Dash Staking Overview

Dash is a known name in cryptocurrency and is notable for its scalable digital payments system and unique features such as InstantSend, PrivateSend, and ChainLocks. In addition, it has an APY of 5.5% and is highly secure through its X11 algorithm.

How to Stake Dash (DASH)?

You can stake Dash on a crypto exchange platform(using a custodial wallet). The popular ones where you can stake DASH tokens are WhiteBIT, Coinbase, and Binance.

Staking on a crypto exchange platform will make the entire trading process easier if you want to work with other cryptocurrencies. However, they will take a portion of your staking rewards.

The staking process from a custodial wallet is very simple. Firstly, choose the desired crypto exchange platform and then proceed with the following steps:

Step 1- Open an account in an exchange

On choosing your desired exchange platform, open your account in it by filling necessary personal and bank details for making payments.

Step 2- Purchase a sufficient amount of DASH coins

Buy DASH tokens from the platform as per your need. 

Remember that the minimum amount of DASH tokens required for staking varies from platform to platform. 

In case you purchased DASH coins on another exchange or wallet. Then you can transfer coins to the wallet through which you wish to stake DASH coins. 

Step 3- Select the STAKE option

After purchasing DASH, choose the STAKE option in the platform to stake DASH tokens.

Step 4- Enter the amount of DASH and desired program

Finally, enter the value of the DASH coins you want to stake or choose it from the program options given. 

The programs will offer different durations for staking the entered amount of DASH tokens. Choose the one which suits you. Finally, click CONFIRM.

Also read: Where to buy Dash?

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Best Places to Stake Dash (DASH)

1. WhiteBIT
stake crypto on whitebit

WhiteBIT offers two plans to stake DASH tokens. One for 30 days at an interest of 0.5% and another for 90 days at an interest of 1.8%. The minimum and maximum DASH tokens for both plans are 0.5 and 10, respectively.

Pros
  • It offers a significant amount of staking rewards- up to 7.2% per year.
  • It charges a small value of trading fees- up to 0.1%.
  • It offers two interfaces, basic and professional, making it highly user-friendly.
Cons
  • Not only Dash but for staking any crypto on WhiteBIT, the information is very limited.
2. KuCoin
kucoin exchange logo to stake crypto

KuCoin is one of the renowned crypto-exchange platforms by trade volume, used by 10 Million users, and is supported in over 200 countries. It supports 600+ cryptocurrencies and has offered good returns. In addition, it charges less for your DASH staking rewards and allows you to use advanced features in your trading journey.

Pros
  • Relatively less fees than other platforms.
  • It offers features experienced users can move to, such as futures and margin trading.
Cons
  • It has poor customer support and resources with respect to staking.

Benefits of Staking Dash (DASH)

  • Way to earn passive income

Staking DASH is an easy step to earn passive income. It doesn’t require much effort and can become profitable in the longer run.

  • Low minimum balance

You only need a minimal amount of DASH tokens to start staking. For example, in WhiteBIT, you only need a minimum of 0.5 DASH coins for staking.

  • Highly secure

Dash has more than 500 master nodes, making it one of the largest in the world, with a combination of 11 different hash functions that makes it highly secure.

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Most frequently asked questions on Dash Staking

Can I stake DASH tokens?

Yes, you can stake DASH tokens. You can do so on any crypto platform, such as WhiteBIT and KuCoin.

Is staking DASH profitable?

Yes, staking DASH is quite profitable. Its APY is 5.5% and can be an excellent long-term investment. However, just like staking other cryptocurrencies, it also has risks.

What is the minimum amount of DASH coins required for staking?

The minimum amount of DASH coins for staking differs from platform to platform. Therefore, you need to check the corresponding value for an exchange before staking.

Can I stake DASH coins by myself?

Yes, you can stake DASH coins by yourself. The entire process is simple to do, even for a beginner.

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