Can you Stake Chainlink? Is it Profitable?

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chainlink link staking process


If you are wondering how to stake Chainlink and make a profit, this is the guide for you! Discover how to earn passive income with LINK staking.


What is Chainlink ( Link ) ?

Chainlink (LINK) is a decentralized oracle network which aims to connect smart contracts with data from the real world. Chainlink was developed by Sergey Nazarov, with Steve Ellis as the other co-founder. It held an ICO in September 2017, raising $32 million, with a total supply of 1 billion LINK tokens.

What is Chainlink Staking?


Chainlink Staking provides node operators the chance to earn rewards for boosting the security and reliability of oracle services by staking their LINK tokens. Through staking, they are helping to maintain Chainlink's Network as a secure source of trustworthy data.


Can Chainlink Be Staked?


Staking is the process of holding a coin to receive rewards. You receive passive income in the form of interest. The staking profit depends on the chosen coin.

Chainlink ( LINK ) is one of many coins you can stake and generate income from it.

Where Can you Stake Chainlink? 


You can stake LINK in Bitrue exchange. Participants will earn LINK at 2.8 annual interest as a reward.

staking chainlink ( link )





The daily cap of the program will be released at 10:00 (UTC+8) and 22:00 (UTC+8) daily. The opt-in option will be closed once they reach the daily cap. Once participated, you will be able to receive your coin interest every day, until you opt out.


Your funds will not be locked so you can opt out anytime you want. You can opt in again as long as there's cap opening.

Minimum amount to join: 1 LINK and all users are eligible to participate.

However, if you choose to lock your coins for a whole month, you will get much higher APY. Now it's %5 APY

 
link TOKEN APY




Can you Stake Chainlink on Binance?


The answer is definitely yes, but the APY is too low. Now it's set to only %0.2

That means if you invested 100 $LINK , you would get only 0.198 $LINK annually.

binance chainlink staking



Best Place to Stake Chainlink ( LINK )

The best platform with the highest APY is WhiteBit. 

They offer a whooping %28 APY. For your 100 LINK invested , you could earn 28 $LINK annually.

chainlink staking whitebit




Is Staking Profitable? 


  As for profits, 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.





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