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Blockdaemon Documentation

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 it’s easy to stake with Blockdaemon.

Note: There is a minimum staking requirement of 10 DOT

  • Any less than this, and you won’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 walletĀ 

You can participate in the Polkadot network. The easiest way is through a Ledger hardware wallet and Blockdaemon validators. Just follow the steps below to stake your DOT:

  1. Access Your Ledger Live Account
  2. Add a Polkadot (DOT) App
  3. Add a Polkadot (DOT) Account
  4. Add Funds to Your Polkadot Account
  5. Open the Earn Rewards window
  6. Nominate Blockdaemon Validators
  7. Confirm and Delegate Your DOT Tokens

Step 1 – Access Your Ledger Live App

  • For this example, we are using a Ledger hardware wallet and Ledger Live
  • If you don’t have one, you will need to purchase a Ledger device before continuing
  • You can then download the Ledger Liver App here

Step 2 – 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

Polkadot App


Step 3 – 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

Add Polkadot account

  • Connect and unlock your Ledger device

Connect Ledger device

  • Name your new Polkadot account
  • Click the Add account button

Add Dot Account

  • Once your account has been added successfully, click done

Polkadot Account Added


Step 4 – 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

Receive DOT

  • Follow the on-screen instructions to transfer DOT to your Ledger Polkadot account
  • NOTE: You need a minimum of 10 DOT (plus fees) in order to stake

Receive DOT 2


Step 5 – Open the Earn Rewards window

  • Click on the Accounts tab in your Ledger Live app

Polkadot Balance

  • Click the Earn rewards button
  • This will display the Earn rewards pop-up window

Earn Rewards

  • ClickĀ the Continue button
  • This will display the Bond assets pop-up window

Bond Asset

  • Enter the amount of DOT you want to Bond (Stake)
  • Note: There is a small network fee associated with the transaction
  • Click theĀ ContinueĀ button and confirm the operation on your Ledger device

Assets successfully bonded


Step 6 – Nominate Blockdaemon Validators

  • Click theĀ NominateĀ button
  • This will take you to the Nominate pop-up window
  • Enter Blockdaemon in the search bar
  • This will display the Blockdaemon validators

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 – Confirm and Delegate Your DOT Tokens

  • Confirm the transaction on your Ledger device

Congratulations, you are now successfully participating in the Polkadot network!

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