Yesterday I wrote an article about 3 mistakes to avoid when investing in crypto and today I wanna talk about 3 staking products I’ve been using BUT, just like I said for the article, I’m not a financial advisor, and the only reason I’m writing this is I think it’s important that we learn from each other’s mistakes, yes, and also possibly learn about things that potentially work in this relatively new, relatively uncharted territory.
1. Kava on Trust
I gotta admit I picked Kava because it’s a Slavic word for ‘coffee’. But then I actually looked into it and noticed that it’s relatively stable, it goes up and down but never by much, and it’s a relatively flexible plan. You lock any amount (minimum is 0.000001) for 21 days and you get 34% APR.
2. BNB on Binance
Okay, technically this is not staking, this is just an ‘earn’ product. So, more like a traditional savings account. The biggest difference between BNB staking and BNB earning on Binance is there’s a minimum threshold of 1 BNB for staking but there’s no minimum for earning, the APY is low, but you get your rewards in Santos Token and Merit Circle. I’m still not sure what to think about MC, but I’m very bullish on Santos because it is one of Socios.com’s products, and I think fan tokens have huuuuuge potential.
3. Axie on Binance
This is a product that Binance has been promoting like mad, and it’s pretty straightforward, you can lock Axie Infinity, I don’t remember the minimum amount in Axie but I remember thinking “wow, I can do that starting from like 10 dollars”, and you get 103% APR or better, starting from a 30-day lockup period. What’s not to like?
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