Are you looking to stake and earn more MANA?
Decentraland is the project behind the MANA token, and it is one of the top crypto projects in the metaverse category. MANA is a proof of work token that you can’t technically stake. However, there are a few popular lending platforms that let you lend MANA and earn significant APY on its holding.
In this quick guide, we will look into MANA lending platforms for you to hold and earn extra rewards.
|Platforms||Minimum Deposit||Lock-in Period|
|Binance Earn||0.01 MANA||Flexible|
1 / 3 months
Now, let’s look at all these platforms separately.
4 Ways You can Stake MANA token
1. Binance Earn
I have talked about Binance earn program in-depth here.
The best part is that there is no lock-in period. You can always buy/sell MANA directly on Binance exchange. Between Binance and Celsius, I would any day pick Binance. Its sevices are not available in a few countries like the USA, UK, and other sanctioned countries.
2. Crypto.com Earn
Crypto.com is another popular crypto exchange that offers a suite of financial products for crypto investors and traders. One of their product is Crypto lending that you can use to lend your MANA and earn rewards like staking.
Crypto com is a widely known exchange to trade cryptocurrencies. One of it's USP is the Crypto.com card which let you spend your crypto holdings at any online and offline store. Using Crypto.com VISA card, you can also withdraw cash from any compatible ATM. They also have earn program which let you earn interest on your crypto holdings.
To stake MANA on Crypto.com, follow these steps:
- Create a crypto.com account
- Either buy or deposit MANA using deposit feature
- Under Finance > Earn select MANA
Click on “+” icon and search for MANA. Select the period for which you wish to lend MANA and supply MANA to start earning rewards.
3 Month term offers 2% p.a., which is one of the best in the entire market.
3. Gemini Earn
Gemini is a USA-based digital asset exchange, which offers an Earn account where you can lend your crypto to earn juicy interest. If you are from the USA, Gemini is your go-to platform.
On the Gemini earn page, you will also find an earning calculator that gives an idea of your potential earnings by lending crypto on Gemini earn.
As I mentioned earlier, MANA can’t be staked. However, you can always use any of the above platforms to earn extra MANA. Of all the platforms listed above, I like Crypto.com as it offers the highest yield on MANA. If you don’t mind lock-in, you can lend it for 3 months and earn 2% per annum.