Earn rewards while staking Polkadot (DOT) and having your private key offline

Published in

AirGap

5 min readFeb 1, 2023

Staking your DOTs allows you to passively earn rewards for your help in securing the Polkadot network.

It is now quicker, simpler, and more secure than ever to stake your (DOT) tokens while keeping your private key offline. Thanks to AirGap native support for Polkadot staking and rewards collection within its wallet.

We suggest reading through this article to ensure you understand how Polkadot staking works and the benefit of staking while keeping your private key offline in AirGap.

Why Stake Polkadot (DOT) in AirGap Wallet?

Maximum security (offline): AirGap is a solution that consists of a Wallet and a Vault. The Vault turns your mobile phone (Android or iOS) into a hardware wallet. It protects your private key offline. The Wallet shows your DOT balance and provides a staking and transaction interface. Anytime staking or transactions are initiated, they have to be signed by the Vault. The wallet presents the transaction to the vault using a QR code. The vault signs the transactions and presents the tx back to the wallet using a QR code so the wallet can broadcast it to the blockchain. All these are done while your private key is offline. This process produces the maximum possible security for your funds.

Complete ownership: Complete ownership: When you stake on an exchange, you risk losing control of your funds; however, in AirGap, this risk is eliminated, and you have your recovery phrase. “Not your key, not your crypto” is a mantra that has long been repeatedly chanted in the crypto space but is often ignored.

Power to decide: Which validators you choose to stake your DOT to is entirely up to you. AirGap provides a way to select a validator by searching them by their validator’s address.

All in one: Through AirGap Wallet, you may manage, exchange, and stake your Polkadot. One app for all of your crypto needs.

Native support (no eternal protocols): Some wallets rely on external protocols or Smart contracts for staking, this introduces extra fees due to the need for cross-chain communication. Staking directly on Polkadot native reduces the fees encountered with such wallets.

Simplicity: Once you have Polkadot in your wallet, you can get started quickly.

Things you need to know before staking DOT

Locked while staking: Yes

Undelegating period: 28 days

Rewards after: 1 day

Slashing risk: Yes (If Validator gets slashed, you lose a percentage of your funds)

Payout: Needs to be claimed by someone (Usually done by the Validator, so no claiming necessary)

Minimum amount: There is currently a minimum amount of 10 DOT required for each nominator but the threshold is changing daily. Try confirming the minimum threshold before staking, If you stake an amount below that threshold, you will not receive rewards.

How to Stake Polkadot (DOT) in your AirGap Wallet

This guide does not touch on the setting up of AirGap itself, for this please follow the instructions outlined in the AirGap — the step-by-step guide. We assume you’ve already set up your AirGap Vault and AirGap Wallet and have a funded your DOT wallet.

Select DOT account/Click delegation

Validator detail

Select DOT account/Click delegation

Open AirGap Wallet and select your DOT Account. In the detail screen of your account, you can choose “Delegation”.

Validator details

On this page, you can change your validator by clicking the “change validator” button or use the default validator by clicking “Delegate” after specifying an amount.