Thursday, 14 May 2020

How to Stake Bitcoin in Profitable Way?

By Deya Hroob



What is Staking?

It is the act of hodling crypto in your wallet for a specific period, then earning interest as a result of that. Users receive rewards by hodling the coins, and the earnings differ depending on the length of time an investor hodl the coin in their wallet.

 You can easily stake numerous coins in different exchanges such as Binance, Bitrue and Cex.io. In this post we will cover Where and How to stake BTC in a profitable way.

 

Where to Stake Bitcoin? 

 You can stake BTC in Bitrue exchange. There are two ways to stake BTC in Bitrue exchange. 

 

 

 

  1. Hold BTC and earn Interest Rate: 5.3%. Once participated, you will be able to receive your coin interest every day, until you opt out. Holders will earn BTC at 5.3 annual interest as a reward. For every 10,000 BTC put into the program, you will earn 1.45 BTC per day.



Your coins will not be locked so you can opt out anytime you want. Minimum amount to join is 0.01BTC
Note that if you hold BTR ,( The native asset on the Bitrue exchange ) you could increase the annual interest rate up to 7.26%.

2.  Hold BTC for 30 days and earn Interest Rate: 10.2%.



 Holders will earn BTC at a 10.2% annual interest rate as a reward. For every 10,000 BTC put into the program, you will earn 83.8356 BTC totally.Your funds will be locked during the campaign.

Minimum amount to join is 0.01BTC.


How to make staking more profitable?

Although some crypto investors think that the profits earned from staking are quite low, the actual profits you can make from staking will depend on how much you vest and for how long. The more you stake, the more you can make in profit with staking.

 However, if the coin price you staked dropped rapidly, you could end up with small OR no profit at all. 

So, the question now is How to make staking more profitable? 

The answer is to combine staking a coin with technical analysis!!! 

I'll explain this: 

Before buying any coin, you should do research and some technical analysis so that you know if this coin in buying area or not. ( I mean here long term investment )

Imagine that the coin you are trying to buy is undervalued and it's more likely to grow in future. Then, I'll buy it and stake it. In my personal example I bought  BTC when it was $5500

I purchased BTC when it was $5500 and staked it in Bitrue exchange. After this I enjoyed both the free bitcoin from staking and the rise in bitcoin price. We don't reach the best part yet, keep reading.

I kept doing technical analysis to find out that $10,000 level is a stiff resistance for Bitcoin at least for some time. So, should I sell my BTC and stop staking at that level OR what ?

Here comes the best part, Bitrue exchange gives us a wonderful gift.

As you can see from the screenshot below, you will notice that we could also stake USDT in this exchange with 10.3% / 13% interest rate.What does this mean??




 As we stated earlier in this post that you can opt out anytime you want and your coin will be free. Hence, when BTC was approaching $10,000 I opted out from staking and sold all Bitcoin into USDT plus I staked my USDT and still receive rewards from my staking process. I will come back to BTC when I see a perfect point to enter even if the price exceeds $10,000.

To sum up, the rule here is Stake USDT when a coin is down, and Stake a coin when it is up. Don't stake a coin when it's overvalued, since if the coin drop it will burn all your rewards.

You may also interested in :


How, Where To Stake XRP? Is It Profitable?

 

How to Increase Your Holdings with Staking Coins


 

 

 

No comments:

Post a comment