Staking Shiba Inu (SHIB) offers a way to earn passive income by locking your tokens on centralized exchanges like Binance or decentralized platforms like ShibaSwap. This guide covers both methods, including buying SHIB on ShibaSwap.
Summary
- Staking involves holding SHIB tokens to earn interest over time.
- Centralized option: Binance supports locked staking with flexible durations (30–90 days).
- Decentralized option: ShibaSwap’s "BURY" feature lets users stake SHIB for xSHIB tokens and weekly rewards.
- Key requirements: SHIB holdings, compatible wallets (e.g., MetaMask), and ETH for gas fees on ShibaSwap.
How to Stake Crypto
Staking Proof-of-Stake (PoS) coins like SHIB requires:
- A supported platform (exchange or DeFi protocol).
- Holding tokens in a wallet or exchange account.
- Choosing a staking type (e.g., locked, flexible).
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Centralized Staking: Binance
Steps:
- Log in to Binance and navigate to Wallet > Fiat and Spot.
- Select SHIB and click Earn > Locked Staking.
- Choose duration (30/60/90 days) and confirm the stake.
- Monitor earnings under Earn > Locked Staking.
Note: Early redemption forfeits earned interest.
Decentralized Staking: ShibaSwap
Steps:
- Connect MetaMask to ShibaSwap (Ethereum network).
- Select "BURY" and stake SHIB (approve two transactions due to gas fees).
- Receive xSHIB representing your staked share.
- Claim rewards weekly (33% unlocked; 67% locked for 6 months).
Buying SHIB on ShibaSwap
Swap ETH for SHIB:
- Navigate to Swap Tokens on ShibaSwap.
- Confirm the swap and pay gas fees.
- Add SHIB to MetaMask using its contract address.
Key Considerations
- APY varies: Check rates before staking.
- Gas fees: High Ethereum network fees can impact profitability.
- Security: Use trusted platforms and enable 2FA.
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FAQ
Can I stake SHIB on Binance?
Yes. Binance offers locked staking for 30–90 days.
What is ShibaSwap?
ShibaSwap is SHIB’s decentralized exchange with staking ("BURY"), swapping, and NFT features.
Is SHIB a good investment?
SHIB’s value depends on market trends. Staking can offset volatility by generating passive income.
How do xSHIB tokens work?
xSHIB represents your staked SHIB and accrues rewards redeemable weekly.
What’s the minimum SHIB to stake?
Binance requires a small minimum (e.g., 10M SHIB). ShibaSwap has no fixed minimum.
Conclusion
Staking SHIB on Binance or ShibaSwap suits different risk appetites. Centralized options simplify the process, while DeFi platforms offer higher yields. Always factor in fees and lock-up periods before committing.
Ready to start? Compare staking platforms today.
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