Vicigers, do you remember the first time you became interested in cryptocurrency? Or maybe, when you learned about the tempting profit of trading with it? You began to read articles and scroll through social media, watch videos of experts explaining all the ins and outs of this industry, and so forth. And just like any other new concept, this information dump might be a little confusing and overwhelming, especially with all the technical terms you’ve never heard before. One of those terms you might be familiar with is staking. What is staking, and why is it important for you to know? We’ve compiled all the necessary information about it here so you can start staking your $VCG token and enjoy the benefits right away.
Staking is a process that allows crypto asset holders to make a profit by depositing tokens that are available in a staking pool. You can get dividends according to the APR (Annual Percentage Rate) and APY (Annual Percentage Yield). APR is the interest rate on an account plus the fees you have to pay and is calculated yearly. Meanwhile, APY is the rate you can earn on an account over a year and includes compound interest.
The storing and locking of a crypto asset is carried out within a certain predetermined period. The longer the period is, the larger percentage of profit you get. So in simpler terms, the duration in which you stake affects your earnings. Think of it as making a bank deposit and earning interests. However, the profit you get is not money, but crypto assets that are also being staked. In addition, there is also a time period that needs to be set before you stake. After reaching the end of that specified period, you can finally get the percentage that has been determined at the beginning of the staking agreement. This way, staking can be a great method to generate passive income from storing your assets without needing to trade them.
Aside from that, what other benefits can you get from staking $VCG token? Here are some of them:
BUSD Rewards
You can claim a reward in BUSD (Binance USD) after staking through a period you chose.
Stable APR
By staking $VCG token, you can secure your digital assets since the APR you receive is stable and will not fluctuate too much. APR is the profit you get from the investment period. The reward you will receive is calculated based on the formula (%APR : 360) X period of X days (Price X VCG Token).
Flexible Staking Duration Periods
You can choose for how long you want to stake your token. There are many available options starting from 30 days, 60 days, 90 days, 180 days, until 360 days. You can try first for a shorter period, and after you get the hang of it, you can start staking for longer periods of time.
Minimum and Maximum Stake Limits For Safety
These limits are set to avoid flash loan attacks by large investors (or whales) who hold a large number of crypto assets that might affect the price fluctuations. The minimum amount of stake is 100 $VCG Token, while the maximum amount is 20,000 $VCG Token.
No Auto-Compounding
Auto compounding is when rewards are automatically converted to more staking shares upon confirmation. With this turned off, big investors and whales cannot exploit too much $VCG token and cause inflation.
Trading and investing in cryptocurrencies will always come with a risk, and staking is no exception to this. We need to be aware of all the possible risks so we take correct decisions when we decide to stake. The biggest risk undoubtedly comes from the market itself. The price movement may drop and change while you’re staking, leading to losses. Make sure you don’t just choose which crypto assets to stake based on the APY numbers only. Research well and pay attention to potential benefits, liquidity exchanges, storing periods, and reward duration. Find more about this on our website https://token.vcgamers.com/staking.
After learning about the benefits and risks, it’s time to take the first step. Staking $VCG token is very easy. Let’s break it down:
- Open our webpage https://token.vcgamers.com/staking
- Scroll down to see your pool balance, stakers, and APR percentage
- Choose your time period (30 days / 60 days / 90 days / 180 days / 360 days)
- Insert the amount of $VCG tokens you want to bet with the minimum amount of 100 $VCG and maximum amount of 20,000 $VCG
- Connect your wallet
- Click “Agree”
- To collect your stake reward afterward, click the “Harvest” button and “Agree”
- To cancel a stake, click “Unstake” button and “Agree”
- All $VCG staking transactions, excluding taxes and only require transaction fees at BNB
Hope this article helps, Vicigank! If you have any questions, please head to our website and explore more information there.
