6 Best Ways To Stake MANA (Decentraland) In 2022
Do you want to know what Decentraland is and how MANA actually works? If yes, then you are in the right place. Hold your curiosity and go through the best ways to stake MANA article as this article is a comprehensive document on MANA Staking and how can you earn by learning it.
Crypto tokens are not a new concept in the world of crypto, however, they are slightly different from crypto coins. MANA or Decentraland is a token based on Ethereum in the field of decentralized virtual reality platforms.
Words like “ MANA” or “ Decentralise” can baffle you if you are not acquainted with them but this article will be the epitome of all the information on how can you stake MANA.
Read this article till the end to know everything about MANA staking.
|Platform||Minimum Deposit||Lock-In Period|
|Binance Earn||0.01 MANA||None|
|Crypto.com earn||750 MANAs||Flexible|
|AAX||160 MANA||7 / 14 / 30 days|
What Is Decentraland?
Decentraland is a unique and one-of-a-kind platform in the blockchain world. Decetraland is mainly a 3D virtual land where you can play, invest and earn. In layman’s terms, Decentraland is a platform that runs on the Ethereum blockchain where people come together to invest in different and unconventional digital assets that have the potential to grow over time.
On this platform, people can buy virtual land and play decentralized virtual reality games. The present software is in its initial phase as it was launched recently in 2020.
The developers of Decetraland are working on the interaction process AI for the users as well. Two types of Decentraland tokens are presently available in the market, one is LAND, and the other is MANA. In this article, we will focus exclusively on MANA.
What Can You Buy With MANA?
Decentraland is a public platform and can be called a mini metaverse. It does not have a single owner as any person or a group of people can buy or sell the stakes here. The name Decentraland depicts its meaning, the decentralized land.
Based on blockchain technology, the software users can purchase different metaverse components.
If the metaverse platform is named Decentraland, then what is MANA? This is also a straightforward concept termed with heavy words. Imagine yourself in a virtual world where the currency used is not the traditional fiat that is being used in the world of reality.
It should be something different, and MANA is filling the gap with the same concept. In Decentraland, MANA is like the currency the users earn and sell stakes. MANA is a crypto token that is maintained in the Ethereum protocol.
Advantages Of Staking MANA
Staking in cryptocurrency is always a smart choice if your strategy is clear for a long-term investment as it can deliver a high return value for your assets. Staking is like the dividend in the stock market, investing in a digital asset can give you high rewards.
Now the question is why Staking MANA. Through MANA staking, you can buy real estate in the virtual world that becomes a beneficial investment in the long term. It is a straightforward way to invest in crypto tokens.
6 Ways You Can Stake MANA Token
Decentraland is a very new venture in the Metaverse project, and MANA is a crucial part of it. In this segment of the article, we will explain the 6 different ways for you to stake MANA.
MANA is identified as a ‘proof of work Token’ that you can not be staked on the same platform. To earn interest on your MANA tokens, you need to invest them in other platforms.
Binance Earn is a platform inside Binance, known for its trading activities in crypto. With Binance earn, you can trade from your crypto fund. This platform is unique as it provides different crypto earning options for crypto holders.
From Binance earn, you can easily invest in MANA. If you do not know how to invest in Binance, here is a quick guide. In Binance, you need to sign in first. You will get a verification code via email or mobile number.
You can opt for USDT or BUSD as the stable coin for Genesis MANA and then start with it. Binance is one of the most reliable platforms for trading, and it does not have any locking period and can offer up to 7.2% of interest on staking.
If you want to stake MANA, Crypto.com is another reliable source. You can easily trade with the Crypto lending platform on Crypto.com. The steps to log in are very easy, and it needs only three steps. This app accepts any kind of cryptocurrencies from almost all countries of the world and provides decent user support.
There exist some rules regarding the minimum range of investment on the platform. To invest in this platform, you need to have at least 750 MANAs, and the locking period is flexible here.
Crypto.com will assign the earned interset every 7 days, and you can easily add them to your wallet and use them for further trades. It offers an interest of 3% on MANA staking.
Celsius will be the best choice for those who are new to crypto staking. But why is it apt for beginners? Because you can save a ton lot of time while investing only using the tools offered by this exchange along with earning passively through this app.
Celsius provides a vast range of Decentralize Finance services that focuses on lending in crypto. You can access this app through desktop, android, or ios platforms for lending, investing, and borrowing. You do not need any third-party involvement to operate all the processes as an advantage.
For investing in MANA Celcius offers an interest of up to 5% and does not require you to commit to the exchange for any lock-in period.
AAX or Atom asset exchange was established in 2018 as a Hong Kong-based company. Many people prefer AAX for its security, integrity, and performance. You can avail of their services from their website and ios and Android-based mobile phones.
AAX is an exchange where you can trade with bitcoin cash, Ethereum, MANA, etc. It also supports fiat like USD, AUD, GBP, etc. Its different payment methods satisfy the users. It gives several benefits, and one of them is its no requirement of KYC.
Also, AAX has a group that affiliates the whole program for its users. You can easily calculate its profit and loss with the inbuilt calculator. AAX offers an interest of 7.2% on MANA which is one of the highest among other platforms.
Hence, if you are looking out for these features along with higher interest rates while staking MANA then AAX could be the right choice for you.
Gemini’s new interest-earning platform is Gemini Earn, and its users can earn up to 7.4% APY, which is almost 10 times from US’s offers on crypto. If you want to stake MANA, Gemini earn can be a suitable choice.
Among other ways, Gemini earn is unique for its withdrawal period. You can easily purchase them and redeem them anytime. This platform does not cost any transaction fee and allows to lend in 38 cryptocurrencies.
To stake MANA, you need to go to their website and search the “earn” menu. From there, you need to select MANA to earn the interest. Then, you need to select the fund and amount of currency, and your work is done.
Kraken is the last recommendation on the list that you can pick for MANA staking. If you are at the initial stage of crypto trading, this platform will be an ideal choice for you because you can gain a lot of experience using this platform.
Kraken can serve you with its low-budget fee structure and high-level security. However, it is not as cheap as Binance. Kraken can charge 2% in fees, whereas Binance asks for only 0.5%.
The biggest reason most experienced investors like Kraken is its high support of virtual assets. Adroit crypto investors love to invest here because of its vast range of coins availability and margin offerings. For MANA, staking Kraken could be an intelligent choice.
Best Ways To Stake MANA: Conclusion
As the public owns Decentraland, anyone can invest here by playing games or interacting with others. Decentaland allows owning the virtual land, and the currency or token is used here named “MANA’.
Staking MANA is no rocket science anymore; you can easily access them with specific platforms. Gemini Earn, Binance, and AAX are some of the best ones in the market. We have discussed six of them in this article, and you can easily stake MANA with them. In my depiction, I have mentioned their features and setbacks too.
If you are thinking of investing in MANA, reach out to this article according to your convenience. I hope this article will help you in understanding the best practices you can learn to stake MANA.