Are you looking for MANA to invest and more MANA to earn?
Decentraland is behind the MANA token. It is one of the most popular crypto projects in the metaverse. MANA token is proof of work and technically you cannot stake it. There are some popular lending platforms that allow you to lend MANA and make significant APY from your MANA holdings.
This quick guide will cover all platforms that offer MANA tokens for lending. You can also hold them and get additional rewards.
PlatformsMinimum DepositLock-in PeriodCelsiusNoneFlexibleBinance Earn0.01 MANAFlexibleCrypto.com750 MANAFlexible, 1 / 3 monthsGemini earnNoneFlexible
Let’s now take a look at each of these platforms individually.
Four ways you can stake MANA token
Celsius is a lending platform that has been around for many years. They are a trusted platform for lending cryptos to make extra income or borrow fiat to your crypto holdings.
Click here to create a Celsius account and download the mobile app. The same process can be done on the desktop version of Celsius. You can deposit MANA to your Celsius MANA account (ERC20) and Celsius will start paying weekly rewards based upon your holdings.
Register for an account at Celsius
2. Binance Earn
Binance earn allows you to make extra MANA and put your existing MANA to good use. Binance, the most well-known crypto exchange in the world, offers Binance Binance Earn as a savings bank account product.
Here is a detailed discussion on the Binance Earn Program.
It is free to buy/sell MANA on Binance exchange. Comparing Binance to Celsius, Binance is my choice. Binance is only available in a handful of countries, such as the USA, UK and sanctioned nations.
Register for an account at Binance
3. Crypto.com Earn:
Crypto.com, another popular cryptocurrency exchange, offers a range of financial products that can be used by traders and investors. Crypto lending is one of their products. You can use it to lend MANA and get rewards such as staking.
These steps will help you stake MANA on Crypto.com:
Register for a crypto.com Account. Buy MANA or deposit it using the deposit featureUnder Finance > Earn MANA
Click on the “+” icon to search for MANA. To start earning rewards, select the period you wish to lend MANA.
3 month term – 2% per annum This is the best deal on the market.
Register on Crypto.com
4. Gemini Earn:
Gemini, a USA-based digital asset trading platform, offers an Earn account that allows you to lend your crypto and earn handsome interest. Gemini is a great choice for Americans.
You will also find an earning calculator on the Gemini Earn page. This calculator will give you an estimate of how much you could earn from lending any cryptocurrency to Gemini Earn.
Gemini allows you to create an account
Conclusion: MANA is to be staked
MANA cannot be staked. However, you can still use any of these platforms to make additional MANA. Crypto.com is my favorite platform, as it offers the highest MANA yield. You can borrow it for 3 months, earning 2% per year if you don’t mind locking your hands.