The Definitive Guide to Staking Your DEPO Tokens
In order to stake your DEPO tokens, you must first purchase them from an exchange. Once they have been deposited into your wallet, it is time to let the magic happen!
It’s important that you understand how staking works before actually sending any coins to be locked up. Staking is different from mining because there are no block rewards (the only reward for staking is transaction fees). That means it can take a long time before you see any return on investment — but the good thing about this setup is that nodes with high amounts of coins will most likely stay online and continue staking all day, every day since they don’t need to worry about electricity costs or equipment upgrades like miners do. This way, you can earn interest without any mining equipment, we do the work for you; Just like a 401k. With the DEPO token, you can earn a 6% to 10% annual return on your investment. But with our special liquidity pool for BUSD investors who want even higher profits of up to 200%, this is more than just investing in crypto!
The way that staking works is that your staking pool will automatically choose a block on which to stake. If you have more coins in your staking pool, it makes sense to keep them there for a longer time — the longer they stay staked, the greater chances of hitting a good streak and receiving handsome rewards!
The simplest way for you to get started staking DEPO tokens is simply by visiting the app. Let us take you through the process step by step.
- Make sure you have purchased or earned DEPO tokens prior
- Click on the “earning” tab in the collapsible menu
- Click on “Deposit DEPO”
- Click on “connect Metamask” to automatically connect the wallet holding DEPO
- Click on “approve contract”
- Click on “more info” to see the amount you already are staking, if you are
- Choose the amount you want to stake or unstake
- And thats it! The screen should now show a notification along with the TXT hash of your transaction!
So that is how you stake your DEPO tokens. You can stake and unstake any amount of coins at will, and the app will automatically (and silently) update itself with the latest changes in your staking status. The more tokens you have staked, the greater rewards you’ll unlock!
Now that we’ve covered how to get started staking your DEPO tokens, let’s cover some advanced tips and tricks for making sure you’re maximizing your interest!
Consider staking your coins for longer periods of time instead of unstaking. This will maximize the amount you receive!
You only need to approve the DEPO tokens contract once, after that, you can technically disconnect and put your computer to sleep — the app will automatically detect any changes in your staking status.
Unstaking and re-staking constantly can decrease your overall earnings. Think of the app like a 401k — it’s not something that will make you rich overnight, but if you put it away and forget about it, you’ll probably notice some significant growth! Staking rewards those who are putting their money where their mouth is, not highly sophisticated bots.
If you follow our guide, you’ll be able to stake your DEPO tokens like a pro in no time! The more coins you have staked, the greater rewards you can unlock. So what are you waiting for? Click on the “earning” tab and let’s get started!
We encourage you to use the information in this article as a starting point for your financial journey, but it is important not to make critical decisions or investments based off what we have written here. We want people who read our content feel empowered by learning new things about their personal finances so they can become more knowledgeable consumers of other products related with investing and saving money wisely
