Although, mining coins is way better if you want to make a profit in the crypto industry because you are essentially creating your new coins. But mining coins isn’t a piece of cake and requires a lot of resources. This is where staking kicks in. It provides the same or even better profits compared to mining in the cryptocurrency and you don’t have to invest all your resources in it.
If you’re new to staking on Biswap, this guide will take you through every step to help you successfully stake BSW tokens. Click here to enjoy the best financial services and get more out of staking.
What is Staking?
In the crypto industry, staking means holding on to cryptocurrencies for the required amount of time. The process is pretty simple and you can enjoy exclusive rewards such as coins and other tokens, etc. The rewards are given to them in return for their contribution to establishing a blockchain network.
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When you stake coins, the blockchain uses your coins to work and provides you with rewards in return. Rewards are given to users based on how many transactions are processed using their proof of stake. To increase your chances of earning more rewards from staking, you will have to stake more coins.
How to stake BSW Tokens?
Now that you understand what is staking and how it works, it is time to learn how you can stake BSW tokens on Biswap to earn more profit. Biswap is one of the best crypto platforms because users can boost their crypto earnings without mining a single coin. Biswap features profitable farms and High-APR launchpools to enable users to stake tokens according to their needs.
1. Through Farms
Farming on Biswap will get you started with a passive income through BSW tokens. You will provide liquidity to the pool and get LP tokens in return. Once you have enough LP tokens, you can go to Biswap farms and stake them to get BSW tokens. Here are the steps to use farms for profiting from Biswap.
- Go to the Biswap platform
- Connect your BEP-20 wallet
- Provide a pair of tokens to become a liquidity provider
- Get LP tokens from liquidity
- Go to Biswap farm and enable farming pair by staking LP tokens
- Earn crypto profit
2. Through Launchpools
Through Biswap Launchpools, investors will be able to get rewards in the form of other tokens depending on much tokens they have staked. The APY of the Launchpools is pretty high. Biswap contains features to automatically compound all the BSW tokens in your account to increase your crypto assets. To stake BSW tokens on Launchpools, follow these guidelines.
- Join Biswap
- Connect the BEP-20 Wallet from the main webpage
- Go to the Biswap Launchpools page
- Stake any token you want
- Enjoy gains on BSW and other tokens
Read More: Maximizing Returns with the Ultimate Bitcoin Investment Strategy
Should you stake?
You will need the answer that should you avoid staking or go with it. Staking is a safe method in which, your assets will work for you. This process also improves the whole blockchain ecosystem and assists in development.