How to Stake DOT (Polkadot)

Polkadot is a Nominated Proof of Stake blockchain with a focus on interoperability through innovative parachains. It is built with the goal of supporting a constellation of blockchains. It allows anyone to deploy a blockchain with its own custom logic but with all of the rigorous security assurances of the Polkadot network. DOT is the native token on the Polkadot blockchain and itโ€™s easy to stake with Blockdaemon.

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Note: There is a minimum staking requirement of 10 DOT.

  • Any less than this, and you wonโ€™t be able to stake.
  • You will also need a small amount of DOT for the transaction fee.
  • Also, be aware that guide requires a Ledger hardware wallet.

This is how to stake your Polkadot DOT tokens:

Step 1 โ€“ Access Your Ledger Live App

  • For this example, we are using a Ledger hardware wallet and Ledger Live.
  • If you donโ€™t have one, you will need to purchase a Ledger device before continuing.
  • You can then download the Ledger Liver App here.

Step 2 โ€“ Add a Polkadot (DOT) App

  • Open your Ledger Live app and click on the Manager menu option.
  • Select the App catalog tab and enter Polkadot in the search bar.
  • Install the Polkadot (DOT) app.

Step 3 โ€“ Add a Polkadot (DOT) Account

  • Once the Polkadot App is installed in your Ledger Live account, click the Add account button on the Polkadot (DOT) line.
  • Connect and unlock your Ledger device.
  • Name your new Polkadot account.
  • Click the Add account button.
  • Once your account has been added successfully, click Done.

Step 4 โ€“ Add Funds to Your Polkadot Account

  • Within the Ledger Live app, you have the option to buy DOT or receive it from another address. For this guide, we are going to receive DOT from another address.
  • Click the Recieve menu option.
  • Click on your Polkadot account.
  • Follow the on-screen instructions to transfer DOT to your Ledger Polkadot account.

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NOTE!

You need a minimum of 10 DOT (plus fees) in order to stake.

Step 5 โ€“ Open the Earn Rewards window

  • Click on the Accounts tab in your Ledger Live app.
  • Click the Earn rewards button.
  • This will display the Earn rewards pop-up window.
  • Click the Continue button.
  • This will display the Bond assets pop-up window.
  • Enter the amount of DOT you want to Bond (Stake).

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Note!

There is a small network fee associated with the transaction.

  • Click the Continue button and confirm the operation on your Ledger device.

Step 6 โ€“ Nominate Blockdaemon Validators

  • Click the Nominate button.
  • This will take you to the Nominate pop-up window.
  • Enter Blockdaemon in the search bar.
  • This will display the Blockdaemon validators.
  • For the best results, we recommend selecting all the Blockdaemon validators (you can select up to 16 validators).
  • Once you have done this, click the Continue button.

Step 7 โ€“ Confirm and Delegate Your DOT Tokens

  • Confirm the transaction on your Ledger device.

Congratulations, you are now successfully participating in the Polkadot network! :confetti-ball:


You can also check out our Polkadot (DOT) staking walkthrough video:

Interested in running your own Polkadot Validator? Send us a message to get started.