Crypto can make you earn interest, something that used to be a matter of course for everyone when they put their savings in the bank. Nowadays, however, the interest rates offered by banks are often negligible, causing many people to look for alternative ways to earn their money. CoinMerce provides this solution by offering a platform where users can invest in crypto and earn interest.
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What is Staking on Coinmerce?
Staking means locking in your crypto coins to earn interest. You can do this in several ways, such as by participating in the consensus algorithm of a blockchain network that uses Proof of Stake. Some exchanges also offer the opportunity to earn for lending out your coins, such as Coinmerce.
So at Coinmerce, you can stake. Very simply, this means that you stake your coins, to receive an interest rate on them. Instead of just having them in your normal “wallet,” from where you can buy and sell them directly, you then lock them in the staking pool, which ensures that you can receive interest on top of your crypto.
If you plan to hold your crypto for a long time, staking can be a good way to get extra returns on your investments. However, keep in mind that there are always some risks associated with crypto investing, including staking. Therefore, it is important to do proper research and understand the risks before you start staking.
How to stake on CoinMerce?
Staking at Coinmerce is very simple. First of all, it is important to make sure that you already have the crypto coin you want to stake in your wallet. Should this not be the case yet, you will have to purchase it first. Once you have the crypto in your wallet, you can follow the following steps to start staking:
To start staking at Coinmerce, follow these steps:
- Go to the Coinmerce website and log in to your account.
- From the menu at the top, click “Explore” and select “staking” from the submenu that appears.
- Read through the information menu on staking to learn more about the ins and outs of staking. Click on “Start Now” when you are ready to begin staking.
- You will now be redirected to the “Proof-of-Stake” screen, where you will see the different coins you can stake with the corresponding interest rates. Click on the coin you want to stake to continue.
- On the next screen, you can enter the amount you want to stake and choose how long you want to stake for. Coinmerce will then make a prediction of the return you can expect.
Congratulations! You have now staked your coins and will receive interest on your crypto from now on. This is on top of the return you may already be earning from the coin’s appreciation.
What coins can you stake and earn on CoinMerce?
On Coinmerce, you can currently stake a wide variety of crypto coins. You can stake both large coins like Cardano (ADA) or Solana (SOL), as well as smaller coins like Mina (MINA) or Secret (SCRT). Below is an overview of the crypto coins you can currently stake on Coinmerce.
Keep in mind, however, that this overview may change frequently, so it is always wise to check Coinmerce’s website for the most up-to-date overview of stakable coins.
How much can you earn?
The returns you can earn on staking vary by coin. On Coinmerce, you can expect returns between 15% at the highest and 0.5% at the lowest. You can view the overview of the returns that can be earned on the different coins to see what returns you can expect on the coins you want to stake.
When will you receive staking rewards?
An important question when considering staking through Coinmerce, of course, is: When will you receive your staking rewards? You will receive your staking rewards on a weekly basis. After each full week that you have been on staking, you will receive your rewards.
If you decide to stop staking midweek, you will still receive rewards at the end of the week. However, these are not the rewards for a full week, but for the period you still staked, say 2 or 3 days.
What are the risks of staking on CoinMerce?
Unfortunately, like any form of investing, staking is not without risks. This also applies to staking through Coinmerce. While staking gives you the opportunity to earn additional returns on your crypto, there are always some risks involved.
The main risk involved in staking is that the value of the crypto coin you are staking may fall. For example, if you decide to stake your crypto for a period of 3 months, you may expect a 15% return, but the value of the coin may actually drop by 50%. In that case, you’ll still achieve a 15% return, but because the coin is only worth half that per unit, your effective return is a lot lower and you may even lose money.
Can you stake Bitcoin and Ethereum on CoinMerce?
Bitcoin (BTC) and Ethereum (ETH) are unfortunately not available for staking on Coinmerce. However, there is another way to earn returns on your Bitcoin and Ethereum at Coinmerce. This is possible through the recently introduced Coinmerce Earn. Through this new initiative, like staking, you can earn returns on your crypto.
At Coinmerce Earn, Bitcoin and Ethereum are available. At the time of writing, the return on Bitcoin is 0.80% and the return on Ethereum is 2.02%. Keep in mind, however, that these yields can change, so it is always wise to check Coinmerce’s website for the most current list of yields on Bitcoin and Ethereum.
How are the staking percentages on CoinMerce calculated?
To the question “How are staking rates calculated on Coinmerce?” you can find an answer on Coinmerce’s website. On this website, Coinmerce indicates that the staking percentage is determined based on the duration or length of the staking period you choose.
Different rates and rules apply to each coin, but the process remains the same, Coinmerce states on its website. This means that the longer you stake your coins, the higher the rate will be.
Conclusion
Staking at Coinmerce is easy and can set you up in minutes. This will allow you to make a return on your crypto. Just keep in mind that staking, like any form of investing, is not without risks. For example, the value of the coin you are staking may drop, which could mean that your investment becomes worth less. Therefore, it is important to do proper research and understand the risks before you start staking.