How to stake Polkadot in Kraken

Please read the disclaimer first.

Now that I own Polkadot (DOT) in Kraken, I can do fun things with it.

Since I don't intend to trade or sell DOT for now, staking it is the best deal.

"Staking" a cryptoasset is like a CD you do at a bank.  You can do it for "Proof-of-Stake (PoS)" type currencies like DOT.  Bitcoin (BTC) is a "Proof-of-Work (PoW)" type, so you can't stake it.  So by locking down, or "staking" part of your DOT, you will receive a staking reward, much like interest.  It's actually analogous to mining fees in PoW currencies, a reward for participating in the crypto-infrastructure.

Enough jargon, let's get to it.  Here is how to stake cryptoassets in Kraken.

Go to "Staking" in the top menu, and click "STAKE" on the currency you want to stake.  DOT offers 12% APR in Kraken!  Of course, it's not FDIC insured.

Enter the amount you want to stake.

You can click one of the easy buttons for quarter increments.  I'm going all in!

Staking initiated!

Boom!  Success.

E-mail from Kraken, "Kraken Staking - Funds Staked".

The rewards are distributed on Mondays and Thursdays.

Here are my rewards so far.  Roughly 0.23% weekly, compounds to 12.7% APR!  :)
(You might also notice that DOT price is going up as well.)

The awesome part about Kraken, is that there is no locking period, and you can get in and out of staking within minutes.  This is another benefit of choosing a crypto-exchange with a huge market share.  :)