This time our topic will be on staking for passive income and on which platforms we can evaluate the coins we hold to get the best returns.

What is Staking?

In its simplest form, we can say that staking is a way of earning some rates of income in exchange for keeping some cryptocurrencies in some pools.

So, for example, you hold BNB in ​​your Binance account. However, since this BNB is empty in the spot, there is no extra income for you.

In other words, BNB price changes will affect you, but when it remains stable, your money will actually lose value. In other words, if 100 dollars is still 100 dollars at the end of 1 year, do you think it has not lost its value? He has definitely lost.

But since we look at it as a coin, we should look at quantities rather than prices. So the important thing is how many BNB I have at the beginning of the year and how much it was at the end of the year. Even if the price drops, the aim is to increase the amount of coins due to our trust and investments in cryptocurrencies.

For this reason, instead of keeping many of our crypto money investments idle, we can increase their number by 10% to 20% by staking. So instead of keeping the BNBs in your Binance account, if you go and stake somewhere with a rate of 15%, you will have 115 BNB at the end of the year, not 100.

The number of coins you can expect increases as you wait. It's a great thing, and the vast majority of people in the market don't take this opportunity. While we are holding, we will win when the price increases, but if our number increases, there will be a terrible profit.

Therefore, from now on, we will evaluate each coin we hold at a good rate of stake and increase the amount of coins in our fixed basket.

#staketoearn #farm #BTC #bitcoin #crypto

Crypto mining firm Riot Platforms is seeking to terminate “certain hosting agreements” with Rhodium Enterprises and be relieved of refunding any outstanding power credits.

“Because this litigation is still at this early stage, we cannot reasonably estimate the likelihood of an unfavorable outcome or the magnitude of such an outcome, if any.”

Rhodium was served on May 8, with a deadline to respond by May 30, according to the report.

Related: Complaint filed against Compass Mining for losing BTC mining machines hits snag

Meanwhile, the report also revealed that Riot had mined “2,115 Bitcoins” in Q1 2023, an increase of 50.5% over Q1 2022.

It was further noted that Riot did not have any affiliations with recent bank collapses:

We did not have any banking relationships with Silicon Valley Bank, Silvergate Bank, or First Republic Bank, and currently hold our cash and cash equivalents at multiple banking institutions.“

Riot anticipates that crypto mining companies will continue to experience challenges in 2023 due to the “significant price decline of Bitcoin” and “other national and global macroeconomic factors.“

It was stated that Riot’s “relative position” in the industry, as well as its “liquidity and absence of long-term debt,” makes it well-positioned to “benefit from such consolidation.”

#BTC #mining #farm #Binance #bykaranteli

In the system we call Farm, we put 2 different cryptocurrencies into the pool with equal cash value and combine them as LP under one roof. That is, if 2 BNB is worth $500, we put $500 BUSD against it and make lp. This is how we start the farm.

BNB-BUSD FARM

The extra thing you need to know about Farm is that your coin amounts may change during price changes. If BNB goes too high, your 2 BNB units will drop a little because BNB is sold and BUSD is added to it. If 2 BNBs are worth $600 instead of 500, they are now sold for $50, making $550 worth of BNB. $550 becomes BUSD.

When you break the LP, you naturally get a different amount of coins. If BNB falls instead of increasing, BUSD decreases and your BNB amount increases by buying BNB. This is the LP logic in the farm.

So now let's move on to Farming and proportions. We perform this transaction through Pancakswap, which is one of the best rates and also one of the most reliable platforms. The current APR rate is 13% (15% in Biswap. Anyone who wants can use that platform, but I'm going over Pancakeswap because many of you have heard of Pancake) So your money will provide 13% annual return.

Here, unlike staking, we cannot give an example over the amount of coins because we are farming. The amount of coins is constantly variable in LP. so you will get 13% return in proportion to your total money amount. The good thing is that you can redeem LP at any time, so you can instantly redeem your staked coins and collect the stakes whenever you want on a daily basis.

We can say that it is completely free and everything is in your hands. From this point of view, it can be very nice to farm over Panksswap. You can farm with the BNBs you hold and the BUSD you hold for possible declines and get good returns.

ATOM Stake

After connecting your Keplr wallet here, you can stake on the stake fish validator. The reason is one of the validators with the lowest commission rate and the highest return rate (4% commission 18% APR).

After staking here, you can collect the accumulated coins at any time and add to the staked amount again. In this way, you can quickly increase the amount of ATOM in your hand at a multiplier rate.

The point you need to know here is that if you want to get back the coins you staked, you remove the stake status by "undelegate" and it takes 21 days to get your money back.

DOT Coin

You do this via "Moonbeam" using 2 different wallets. Since it would be complicated and long to explain here, I will show this and even everything here in a video in our Youtube channel "Kriptobi".

Those who cannot make transactions will be able to watch how all the coins I have described here are staked in the video I will shoot.

Don't forget to follow us to learn more.

#staketoearn #farm #bitcoin #crypto #crypto2023