Intro
So what is a APR and doesn't that usually apply to a debt?🤔 an APR is defined as:
APR Definition
The term annual percentage rate of charge, corresponding sometimes to a nominal APR and sometimes to an effective APR, is the interest rate for a whole year, rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate. This interest rate on a loan can also represent a loan that you are getting paid interest on meaning that you in this case would be owed the debt.
Disclaimer
I'm not a financial advisor nor qualified to give you financial advice you should always do your own research before you invest in anything. This is just some useful information that I personally use you make any financial decisions based on this information at your own risk you have been warned.
Now staking functions in a similar manner but typically this is done with a financial institution such as an exchange for example. While many go this route due to the relative safety in comparison to personal loans or peer to peer lending. There are some drawbacks to consider such as a minimum time requirement and how long it takes to retrieve staked assets.
Blockfi
Let's start off with a relatively simple staking service blockfi.com while not a extremely high interest rate 8.5% I believe is the highest. Blockfi is relatively easy to use both to deposit & retrieve staked funds. Not much if any waiting period which is a fine print issue many exchanges have. If you want your holdings to generate a APR much higher than a checking account 0.5-1% blockfi is worth checking out use my referral for a extra $10 after depositing $100:Â https://blockfi.com/?ref=50235565
However times are rough sometimes in the event that you have to spend your cryptocurrency but you much rather hodl than spend the precious. You can use your cryptocurrency as collateral in a similar process to mortgaging your property.
This is sometimes a better option than say spending in a down market any body that has had to do that knows what I mean 😅.
Kucoin
Whoa buddy this one gets complex kucoin had been hacked but I can honestly say I got everything back though it took a while for me to retrieve all 3,000 or so. This wasn't the complex part yeah cyber security is a cake walk compared to trying to operate a pro exchange for the first time. If you have experience with financial trading i imagine it would be simpler to understand but I was lost on kucoin the first time.
With a little bit more experience with their interface I have some tips for beginners first the staking is okay but it will lock in your deposit & all of the high APR crypto staking options have high minimum requirements for deposit or long-term deposit requirements. I was doing better with their peer to peer loans due to the quick turn over but if you're a set it and forget it type then their staking options are quite extensive.
My referral link if interested:
I found a great crypto currency trading platform:Â https://www.kucoin.com/ucenter/signup?rcode=21HP2Pt&lang=en_US&utmsource=friendInvite
Hive
Hive engine has cryptocurrency miners based on smart contracts that accumulate interest like NEO accumulates gas. So say you purchase a Leo miner it would then generate Leo while a Leo Mega Miner would accumulate 4x that of the Leo Miner. This is just one of several Miner coins available on hive engine this is honestly the investment that i wish I knew about sooner. I don't have enough data for a proper earnings estimate but the mining (coins) on hive engine can be shockingly cheap Leo Mega Miner is around $6 USD. Some go for as low as $0.10 however this is not a Leo Miner.
Honorable mentions
Atomicwallet.io, pancake swap, trustwallet, binance, and coinbase there are literally to many to even list properly. Atomicwallet can be ok but they have a ridiculous lock in time for staking 1 month without earning any thing from the asset. This isn't great considering that they have a habit of switching the APR often. Coinbase has high trading fees and doesn't offer many staking coins but doesn't lock in assets.
https://coinbase.com/earn/comp/invite/xmwgzy9h
Binance has a similar situation to coinbase with lower fees and a wider variety. Pancake swap is awesome but I am old fashioned and don't take financial advice from pancakes it's just how I was raised I'm a product of my pancake hating environment. Trustwallet has 3rd parties handling your assets which begs the question why are they involved 🤔. Like a lingering 3rd to a threesome that has became a twosome its off putting.
Conclusion
Check out blockfi pancake swap is awesome but I hate pancakes don't trust them which at this point is costly. If you use long term staking be careful I have been burned by crypto.com if they offer a private jet just keep walking.
Social media
Twitter:
@Brandon36907436
Hive:
https://hive.blog/@chubb149
Weedcash.network:
https://weedcash.network/@chubb149
Peakd referral link:
https://peakd.com/register?ref=chubb149
Reddit:
https://www.reddit.com/u/chubbie149?utm_medium=android_app&utm_source=share
My crypto subreddit:Â https://www.reddit.com/r/cryptofaucetrefferal?utm_medium=android_app&utm_source=share
torum referral get 75 XTM
https://www.torum.com/signup?referral_code=chubb149
my torum account
https://www.torum.com/u/chubb149
Read.cash
https://read.cash/@Chubbie149
to join
https://read.cash/r/Chubbie149
publishOx
https://www.publish0x.com/@Chubbie149
to join PublishOx
https://www.publish0x.com/?a=4QbYRK0dzq
Games
services to check out
risingstar block chain game free
https://www.risingstargame.com?referrer=chubb149
splinterlands
use this for a legendary card on this free blockchain game
https://splinterlands.com?ref=chubb149
bet fury free faucet and crypto casino/mining service
https://betfury.io/?r=5fa32f20e32de71b35d5c128
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