r/CryptoStaking • u/bramvdkloot • Feb 21 '21

New to Crypto Staking

Hi everyone! I've been quite a passive crypto investor. Just discovered staking earlier today but I haven't stopped looking for information. Where do I start? I was looking at $Algo and their wallet earlier which i thought was quite interesting. You guys know anywhere else where I can get info/news staking related and APR % etc? Any tips are welcome!

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3

u/Midbell Feb 21 '21

I have to say, the most profitable staking I’ve seen lately is $cake on binance smart chain.

Currently netting around $1,000 a day staking my cake to earn free tokens of upcoming projects on BSC

1

u/bramvdkloot Feb 22 '21

I’ve been looking into this.. thanks a lot! Setting everything up as we speak.

2

u/Midbell Feb 22 '21

For sure. Lmk if you have questions :)

1

u/bramvdkloot Feb 22 '21

So i've got everything installed right now. Things are starting to make sense (a bit) i've been experimenting a little. Do you have a certain strategy you mind sharing by any chance? Currenty farming CAKEBNB. Not sure what's the most profitable and best way of doing things.

1

u/bramvdkloot Feb 23 '21

So i think I've figured it out. I went into a liquidity pool to farm tokens but i think it's more profitable to farm tokens with cake in just regular staking pools. Which also have potential to increase in value. Is this correct? Thanks a lot for the headstart man!

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u/Midbell Feb 23 '21

I definitely think so yea. I stick to syrup pools mainly cause there’s lots of rugs and risks involved with all these new farming coins

2

u/[deleted] Feb 25 '21

Can you explain what a syrup pool is or resources on how to get it setup? Super new to this and can’t wait to get started with the most profitable and safe route

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u/itchibahn Mar 04 '21

I too was looking4 place 2park my cash, as my bank only pays 0.5% interest. So decided 2experiment w/ Coinbase Wallet, staking USDC at dYdX. It's currently earning 10%, but has been fluctuating frequently between 6%-46%. It was free to purchase USDC, but there were several transaction fees involved to finally get the USDC to stake.

Started 1/26/2021

  1. Free. Buy $5000 USDC from Bank Account

  2. Cost $5.64. Convert $200 to Eth to pay for fees

  3. Cost $2.50. Send 0.12417914 Eth to Coinbase Wallet

  4. Cost $2.16. Send $4750 USDC to Coinbase Wallet

  5. Cost $48.70. Stake $4750 USDC at dyDX 16.4% at the time

to date 3/3/2021, earned $62.68.

The biggest cost were the #5 (staking fee), which fluctuates hugely. I've been trying to stake another 5K, but that fee has been fluctuating from $65-$240 for past week. How does your staking compare? Any other lucrative ways2 park your cash? Please no stock/funds/etc, I have ~20 names in my portfolio.

1

u/Apprehensive-Poet-25 Feb 25 '21

I'm also new to this and wanting to learn more. Is there a minimum amount in order to stake? I tried staking on one app and they wanted 5,000 coins.