Home Cryptocurrency Best Place To Stake Decentraland In 2023 – Passive Income

Best Place To Stake Decentraland In 2023 – Passive Income

by edward

Many individuals prefer to own crypto assets. Anyone who dabbles in cryptocurrency must have heard of “staking.” Crypto staking is an excellent method of generating passive income, especially when the coin offers high interest. It involves devoting your cryptocurrencies to contribute to the growth of a blockchain network. 

This article will cover the meaning of the Decentraland coin, the benefits of “staking,” and the best places to stake it (pros and cons of each platform). I hope you enjoy it! 


Best Staking Exchanges – Summarized List

  1. Uphold – Claim Bonus
  2. Nexo – Claim Bonus
  3. Crypto.com – Claim Bonus
  4. Binance US – Claim Bonus
  5. Kraken – Claim Bonus

What is Decentraland Coin?

Decentraland is a virtual reality blockchain platform. Investors can use the token “MANA” to buy, sell, or develop “LAND”- a non-fungible token for staking claims to virtual land on the platform. Decentraland coin is among the top cryptocurrencies due to its market capitalization. It has experienced exponential growth within the last few years. Top brands like Louis Vuitton, Gucci, and Burberry fueled its growth as they joined the metaverse through NFTs. 

MANA is a digital asset (a fungible ERC-20 token) that investors can use to buy LAND, goods, or services in Decentraland. Investors can sell and buy MANA for other digital currencies. MANA is a Proof of Work cryptocurrency. However, it operates on the basis of Proof of Stake. Therefore, investors cannot mine Decentraland coins. Instead, they can earn interest and rewards with the coin.

Two things are important before staking the Decentraland coin on any platform. The first thing to consider is the minimum amount required to earn rewards. Suppose this amount is not up to what you have. You don’t need to worry; look for a suitable platform to cater to your needs. Secondly, potential investors should consider the lock-up period associated with saving plans. Some platforms offer flexible saving plans. In this case, investors earn rewards but can sell the coin anytime without restriction. Some other individuals prefer a locked saving plan. Be sure to check out the savings option on each platform.


5 Best Exchanges To Stake Decentraland

1. Uphold


If you want a single location where you can buy and exchange a portfolio of assets, Uphold is one of the best exchanges to trade. It offers a sizable number of cryptocurrencies along with precious gems, local currencies, and American stocks. More than 230 cryptocurrencies are listed there, including the majority of the market leaders, including Ethereum (ETH), Cardano (ADA), Solana (SOL), and Polkadot, are supported by Uphold as well as lesser-known altcoins and stablecoins that track the US dollar. Uphold imposes no fees for deposits, withdrawals, or trades. It’s essential to remember that it levies a spread on each transaction that changes depending on the asset you’re trading and the market’s conditions. You can get started on Uphold here.

Pros

  • Great selection of cryptos
  • You can cross-trade in assets
  • Users can Profit from cryptocurrency staking
  • No withdrawal, trading, or deposit fees
  • Insightful educational material

Cons

  • Spreads changes constantly
  • More stock options would be nice


2. Nexo


Nexo is a platform that allows members to access this metaverse crypto. Therefore, they did not waste any time adding the “shining new” cryptocurrency to their exchange. Investors can earn about 0.5% on each exchange transaction on Nexo. In addition, users can convert to and from MANA on the platform. You can also use the Nexo Booster to get three times on MANA.

On Nexo, investors can get instant credit against MANA at about 0% APR. In addition, you can transfer MANA from other wallets at no fee. You can get started on Nexo here.

Pros

  • Transfer fee from other wallets is free
  • Withdrawal and deposit are free
  • No hidden charges

Cons 

  • The platform demands strict verification
  • Investors in the US cannot access Nexo


3. Crypto.com


Crypto.com is among the top platforms for crypto activities. Over 150 digital assets are on crypto.com. Therefore, it is a great stop for investors looking to diversify their portfolios.

There are three plans- flexible, one month, and three months. The interest is lowest for the flexible plan. Suppose investors lock it up for a month or three. They will not be able to sell it regardless of any price change. The only benefit to these locked plans is the higher interest rate. Suppose you have a sizable amount of Decentraland coin and are willing to hold for the long term. Crypto.com may be the best platform to earn a significant yield. You can get started on Crypto.com here.

Pros

  • Higher chances of an increased cashback
  • After 30 days of trading, the transaction fee may be adjusted

Cons

  • 750 MANA is the minimum deposit
  • Lack of tutorial instructions


4. Binance US


Binance US is easily the largest cryptocurrency exchange platform. Therefore, it is no surprise that it is among the top 5 places to buy Decentraland coins. Investors with MANA can always earn more on Binance. 

Many investors love Binance because they can always access their digital assets for trading without a lock-in period. However, Binance is not available in all nations of the world. Binance offers a flexible saving plan that allows investors to withdraw their earnings at any time. Therefore, Binance is an excellent choice for investors who want a quick investment return.

The interest yield of Decentraland on Binance is low. However, you can start earning rewards the next day after setting up a plan. You can get started on Binance US here.

Pros

  • Flexible lock-up plan
  • The minimum deposit is 0.01 MANA
  • It has advanced trading features

Cons

  • It is not available in all countries
  • The interest rate is low


5. Kraken


Kraken was one of the first bitcoin exchanges to show up on the Bloomberg Terminal back in the early days of crypto. Today, it’s the fourth largest crypto exchange in the world. It’s also a popular choice among new and experienced crypto stakers alike, in no small part thanks to its attractive yields.

Another reason for Kraken’s popularity is the user interface, where users can easily find account information and change their settings. Its staking program is also highly flexible: coins can be staked and unstaked without a fee since there is no lock-in period. You can get started on Kraken here.

Pros

  • Possibility to borrow against cryptocurrency
  • A wide range of cryptocurrency trading pairs
  • Great mobile app

Cons

  • Services are restricted in a few states


Benefits To Staking Decentraland

Decentraland is a good project, and predictions are favorable. The calculations estimate that the price will increase to about $15 by 2027. In addition, the revenue is expected to increase by 368.1% after five years, making it an excellent investment.

Investors can sell and buy digital real estate with Decentraland coin. In addition, they can explore and play games in the virtual world. The returns from staking Decentraland are lucrative.

The prices of Decentraland coins are expected to rise in the coming years. According to predictions, the coin is expected to hit an all-time high of $6 in 2023. In addition, the average trade price within the year will be higher than $4. This is a win-win situation for investors and Decentraland.


Added Benefits To Staking Crypto

  1. Staking crypto promises enticing rewards. The interest involved in crypto staking is profitable.
  2. Earning passive income is a steady way to build wealth. Regardless of inactivity on crypto platforms, staking ensures you keep getting your interests.
  3. Staking crypto requires Proof of Stake (PoS), which is more energy conservative and improves scalability.
  4. Staking cryptocurrencies is a form of insurance against the constant threat of volatility associated with crypto.

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Final Thoughts

This article has explored the Decentraland coin and the best platforms to earn from it. We have also included the pros and cons of each platform to help you make an informed choice.

Decentraland is one of the top ways to profit from the metaverse trend. Although you cannot stake a Decentraland coin (MANA), you can still earn a lot from it. The future of Decentraland looks bright and beautiful. However, it still largely depends on how the virtual reality circle accepts it. Invest in Decentraland coin to be a part of the fastest-growing community!


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