Staking PEAKDEFI sounds like a great deal to many people, but often they don’t know the benefits or risk of staking. One of the many questions people seek answers to is how much can you earn staking PEAKDEFI? Is staking profitable? We are here to answer all the important and complicated questions about making money staking PEAKDEFI. But, before we do, you first need to know what peak staking is.
What Is Peak Staking?
When you choose to lock in your crypto assets for a specific period and a defined reason, what you have done is called peak staking. Staking PEAKDEFI is one of the several ways you can increase your capital apart from being an investor in the PEAKDEFI global fund. Staking PEAKDEFI works similarly to the fixed savings account, especially as both allow you to earn interest on your original investments as long as you let them stay in your account or wallet for an extended period.
How Are Staking Rewards Calculated?
PEAK staking rewards are determined based on three factors: The quantity of PEAK you want to stake, how long you want to lock your PEAK for, and when you started staking.
In more straightforward terms, the higher your peak stake, the greater your profit. The longer your stake time, the bigger your accumulated bonus. The earlier you start staking, the larger your profit share, based on early adopters. Also, you can decide to stake between 10-1,000,000 PEAK within a period of 10 to 1000 days.
So, is staking profitable? Yes, generally it is. Your staking reward is based on how you can reduce the prevalent supply of PEAK in the market and regulate the market price of PEAK when you lock it up on the PEAKDEFI platform. Annually, you can get up to 83% reward in natural PEAK staking.
What Other Coins Should I Stake If I Want Maximum Rewards?
Before investing in crypto, several factors should be considered, especially if your investments are in coins built on a proof of stake (PoS) network. The advantage of these kinds of coins is that they allow you to participate in staking. All you need to participate in staking is keeping your coins in your preferred cryptocurrency wallet for an extended period so you can receive a bonus called staking rewards. Here is a list of some of the best coins for staking if you want to earn maximum returns:
Terra (LUNA): LUNA has a substantial annual staking reward of 12.10%, making it one of the best coins to stake. Investing in LUNA is straightforward, and to do this, swap one UST for one dollar equivalent of LUNA. Also, if there is a drop in UST price, you can still exchange UST for $1 equivalent of LUNA and still gain maximum profit and thus receive passive income.
Solana (SOL): Solana ranks among the best coins for staking because of its scalability. Solana is known for its swift transactions and low fees for processing them. Even though you may not be able to oversee your node if you stake on the Solana blockchain network, you have an option of 640 validators with whom you can choose to stake your coins. Assigning your stake to Solana validators makes you eligible to receive the same rewards that they do. Solana has an annual staking return of between 7-11%.
Avalanche (AVAX): Avalanche is one of the best coins you can stake because of the platform’s scalability to several validators. To start staking on the AVAX platform, all you need is a minimum of 25 AVAX coins, while becoming a validator requires a minimum stake of 2,000 coins. You are entitled to a staking reward after two weeks of staking, and you can earn about 8-14% annual return on your investment.
ApeSwap Finance (BANANA): This platform works by allowing its users to stake the coins (BANANA) they have earned. When you stake your BANANA holdings, you can decide to earn more BANANA coins or other coins. ApeSwap has an average annual return of 75% that is projected to drop as time goes by, making now the best time to stake and earn these coins.
How to Stake PEAKDEFI
It may seem like a complicated process if you’ve never before staked PEAKDEFI. The following steps show how you can stake PEAKDEFI easily:
- Visit the website www.peakdefi.com and press “connect” to connect your Metamask wallet that holds both your PEAK and ETH coin.
- Inside the “investor portal”, select the “Rewards” icon on the left, then click on “stake PEAK”.
- Choose the quantity of PEAK you want to stake and the specific number of days you wish to stake. Check the right-hand side of your screen to see your estimated reward.
- Click on “Stake” when you are satisfied and ready to proceed.
- Click on “Confirm” in Metamask and wait for the transaction to be confirmed before you proceed.
You can validate your transaction details on Metamask and select “confirm” to stake your PEAK. Also, all transactions can be vetted on a block explorer for proof of confirmation.
Proof of Service (PoSE)
A significant source of confusion for those new to the cryptoworld is the comparison between staking and masternode. Even though they perform similar tasks and functions, they are not the same and should not be regarded as the same. The only similarity between masternodes and staking is that they are a gateway to earning passive income. Masternodes exist to provide additional security to the network by eliminating blocks that might pose a harmful threat to the network. Masternodes cannot stand independently, as they were not built to reinforce another block by themselves. They cannot create new blocks but are able to verify transactions.
Staking vs. Masternodes at a Glance:
- They are both built on blockchain technologies.
- Masternodes require you to have a specific amount to run a full node and access additional rights to vote and verify transactions. For example, to run DASH on a masternode, you must have 1000 DASH coins equivalent to $68,000.
- Masternodes require additional resources to run.
- Staking, on the other hand, requires little to run and earn staking rewards.
- Staking conserves energy and is a better alternative to Proof of Work as no power is required to mine or produce crypto.
Staking PEAKDEFI is a considerable investment because it is low risk and, most of all, requires the least effort. The simple hack is to take out the bonus from your dividend at the right time. With staking, if done correctly, you can begin to earn passive income from the crypto world.
Featured Image: Megapixl