Best Ways You can Earn Rewards Staking Shiba Inu (SHIB)

In this guide, you will find the best places for Shiba Inu (SHIB) staking to earn yield. Find interest rates on centralized and decentralized exchanges.

By The 'Staunch

Shiba Inu is a meme token designed to rival Dogecoin cryptocurrency.

The token gained traction during the market upswing, and if you’re interested in increasing your holdings as you await the next bull run, then keep reading.

In this article, we will not only show you, but also explain where to stake Shiba Inu tokens to grow wealth.

Let’s begin…

Where to stake SHIB token

In reality, staking Shiba Inu token depends on your experience with cryptocurrencies and the kind of platform you choose.

If you’re an advanced investor who’s comfortable navigating DeFi, I recommend providing liquidity to a DEx pair like SHIB/ETH on a platform like Uniswap.

For beginners, we recommend using a centralized platform like Binance, which allows you to easily stake to earn yield on your SHIB tokens.

Let’s continue below, so you will see what is going to be involve in any of the platform type you decide to use for Shiba Inu staking.

1. Shiba Inu staking on a CEx

Shiba Inu staking on a centralized exchange is the simplest way for beginner investors to earn yield.

Unlike DEx, which require users to provide liquidity to pools, all you need to do is transfer your SHIB tokens to a centralized exchange and stake them.

This will allow you to earn interest on your tokens with no additional effort.

It’s significantly less than using the DEx method, however comes with much less risk and no impermanent loss.

2. Staking Shiba Inu on a DEx

Staking Shiba Inu on a decentralized exchange like Uniswap is the best and highest ROI way to earn yield on your SHIB tokens.

In this method, investors can add liquidity to a pool of SHIB/ETH to earn fees when users trade cryptocurrency tokens.

It’s important to note that this method is only recommended for advanced investors.

You can use a platform like Defillama to compare all yield farming opportunities using the SHIB token on Ethereum mainnet.

How to stake Shiba Inu on Binance

The quickest and easiest way to stake Shiba Inu tokens is to use crypto exchange that supports SHIB staking.

Binance is a reputable crypto platform that offer staking rewards between 3% and 5% APY.

If you are still new to this exchange platform, you can simply read my detailed review on Binance.

To stake Shiba Inu using the exchange, follow these easy steps below:

  1. Visit athe Binance cryptocurrency exchange
  2. Login or create an account (if you don’t have already)
  3. Complete your KYC and ID verification
  4. Deposit money and purchase an established crypto
  5. Exchange the crypto (e.g. BTC or ETH) to SHIB tokens
  6. Navigate to ‘Binance Earn’ and select ‘Locked Staking’
  7. Choose ‘Shiba Inu’ from the coin staking list
  8. Select a fixed term duration (i.e. 30, 60 or 90 days)
  9. Enter the amount of SHIB to stake and click ‘Confirm’.

Once that is done successfully, your Shiba Inu token would be locked in the ‘Earn Wallet’ for the period of time you specified.

The longer you lock your tokens, the more rewards you can earn, and you will receive rewards in SHIB tokens every day.

After the staking period ends, the exact number of staked coins will be returned to your account wallet along with the interest earned.

Final words

Staking Shiba Inu offers various ways for investors to earn passive rewards based on their expertise.

Advanced investors may choose to use DeFi platforms like Uniswap, while beginners may prefer centralized platforms like Binance.

While staking can yield rewards and provide influence in network decisions, it also carries risks.

These crypto investment risk includes market volatility, security threats, and smart contract vulnerabilities.

Thorough research and understanding of the risks involved, along with expert advice, can help investors make informed decisions.

About the 'Staunch

Henry is the founder of Crypto Staunch. He studied accounting and finance at Godfrey Okoye University, but became a Cryptopreneur to pursue his interest in learning digital currency and asset investment. Since 2018, Henry Kings has writing about Crypto, DeFi & NFT to help other people get started in the space. His publications has been featured in Binance Square, Digest Africa, Tech Economy, International Business Times, CoinDesk and many other top Crypto media outlets.

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About The 'Staunch

Henry is the founder of Crypto Staunch. He studied accounting and finance at Godfrey Okoye University, but became a Cryptopreneur to pursue his interest in learning digital currency and asset investment. Since 2018, Henry Kings has writing about Crypto, DeFi & NFT to help other people get started in the space. His publications has been featured in Binance Square, Digest Africa, Tech Economy, International Business Times, CoinDesk and many other top Crypto media outlets.