People familiar with the Binance platform are also familiar with the Binance coin developed by same team. It is one of the rising stars of the altcoins. It’s also an ideal coin for staking. In this blog I describe 2 possibilities to stake BNB.
1. staking on binance platform
The first possibility is to stake binance coins on the binance platform itself. All you have to do is buy the coins on the binance exchange. Then you can choose to stake it via the binance fault. Benefit that staking cann be done with any amounts. The first yields will de distributed the next day. You also enroll automatically to launch pools and get tokens offered via those launch pools. One ot the benefits is that you can stake with low amounts and that after purchase all you have to enable is staking the coins. Another benefit is that when you want to sell the coins you can stop staking instantly. One of the disadvantages is that the yields might be lower and staking does not cover any fluctuations in price.
2. staking via the BNB vault on cocoricos.io
A second possibility is to stake via the BNB fault on this website. First of all you already need to have purchased the BNB coins on Binance or any exchange that offers them. You also have to stake at least 1 coin to be eligible to be able to participace in the BNB stake pool. When you transfer via binance you need to check that the binance smart chain network is selected. You also need to wait 12-24h before cocoricos has processed your payment. Benefit is that the yields are higher and get both yield on the binance coin and you earn rewards in the form of egg tokens. Yields are updated each hour so you can see how much yield you make over time. Benefits are that the yields are higher 149% yields for 180 days. Drawbacks are that you need to transfer funds yourself, the staking is locked for 180 days and you have a higher treshold to be able to participate.
my conclusions
Above I discussed 2 possible ways to stake bitcoin. When you need funds earlier and invested low amounts and you want to stake I recommend staking via binance. If you don’t need funds and have made bigger investments I recommend staking via cocoricos.io.
