Staking shiba inu on binance is really important for those that want to enjoy free staking rewards from shiba inu.
The first six months of 2021 experienced a sporadic increase in the price of dogecoin.
Querying the search engine on how to stake shiba inu on binance for free staking rewards also increased.
This is because a new kid on the block was also making waves.
So many profited from it but a lot of people missed out and went in too late.
Irrespective of this massive increase from dogecoin, another meme coin was also taking the crypto ecosystem by storm.
This level of sporadic increase made others call the meme coin the dogecoin killer.
This is no other coin buy the shiba inu crypto coin.
Irrespective of the massive move of shiba inu, a lot of people still missed out of the profit scooping coin.
This guide is to help you still have a bite of profiting from shiba inu.
In case you made a lot of profit during the surge of shiba inu price, this guide will help you make even more profit.
This will happen with the use of staking shiba inu binance for free staking rewards.
In this guide, you will be exposed and taught on how to stake shiba inu on binance and earn free stake rewards.
What is Shiba Inu Coin
Shiba inu is a meme coin that was launched in August 2020 but really gained a great level of recognition from the public in 2021.
Shiba is considered a new version of Dogecoin as they both share a lot of similarities.
Shiba inu due to the similarities it shares with Dogecoin is considered as a Dogecoin killer as the developers of Shiba inu have really corrected the flaws of Dogecoin with the emergence of Shiba inu.
After the sporadic rise in value of Dogecoin in early 2021, a lot of attention was drawn to Shiba inu and this really increased its demand as well as the value of Shiba inu.
Shiba inu is supported across a lot of crypto exchanges like Binance and the likes of other crypto exchanges.
Shiba inu is a lot of times also called Shiba Token and is listed across supported crypto exchanges with the SHIB symbol.
The developers behind this token are continually making a lot of updates to make sure it surpasses the value of Dogecoin and realistically defend its name as Dogecoin killer.
Price Of Shiba Inu
The price of shiba inu is $0.000026355 but you can always get the latest price of shiba inu
How To Stake Shiba Inu On Binance
Shiba Inu can be easily staked on binance using the following steps below;
- Have a verified account on binance
- Fund your spot wallet with shiba
- Enter binance shiba inu staking pool
- Select stake duration
- Select amount of shiba to stake
- Agree to binance terms and confirm shina inu stake on binance
The steps outlined above will be explained in details to easily guide you on how to stake shiba inu on binance
Step 1: Have a Verified Account On Binance
Having a verified account on binance is a powerful factor that determines if you can successfully stake your shiba inu.
Without having a verified account on binance, staking shiba inu on binance will not be possible.
Some people may have an account on binance that is not verified and think they can stake with it.
This will not be possible.
This is because binance has elevated its KYC policies to help secure users and its platform well.
That is why account verification on binance is very important before you can use binance exchange effectively.
You can sign up for binance account if you do not have an account.
Using the link above to sign up for an account on binance will reduce your trading fees.
You can also learn How To Open A Binance Account easily as shown in one of our guides.
Step 2: Fund Your Spot Wallet Account With Shiba Inu
Before you can successfully stake shiba inu on binance, the funds have to be in the spot wallet.
This is because the staking pool draws funds from the spot wallet.
A lot of people usually make the mistake of leaving funds in other binance account like the futures account.
If the funds for staking is not in the spot wallet, the stake of shiba inu on binance will not be successful.
So make sure that the funds to be used as the locked stake capital is in the spot wallet of binance for you to successfully stake.
Step 3: Visit Binance Earn Section
If you have an account that has been verified by binance, log in and click on more on the dashboard to access the earn section.
When you reach the earn section, look for the staking button.
You will find the staking button in one of the functions listed in the earn section.
Click on the staking button and you will be taken to the binance staking pool.
In the binance staking pool, you will find a lot of cryptocurrencies you can stake and earn passive income.
Bear in mind that the staking pool that we are going to be using is the SHIB staking pool which is used for staking shiba inu on binance.
Step 4: Choose Binance SHIB Staking Pool
So right here you have successfully entered the binance staking pool.
The next thing is to find the SHIB staking pool for staking shiba inu on binance.
If you do not find the SHIB staking pool at the top of the staking pool, scroll down till you find it.
After you have successfully found the SHIB staking pool, you will have options to choose the stake duration that you want to use.
You can decide to choose the one you want or you can still choose when you enter the SHIB staking pool to stake shiba inu on binance.
Click on the stake Now button to enter the SHIB staking pool.
Step 5: Choose Staking Duration
In this step, you are going to specify the locked stake duration that you want to stake shiba inu on the SHIB staking pool.
Bear in mind that the stake duration chosen for staking shiba inu on binance will directly affect the amount of staking rewards that you will earn.
This is because all the locked stake duration carry a different APY.
APY of a particular stake duration determines how profitable your locked staking on the SHIB staking pool will be.
The higher the locked stake duration that you choose, the more profit you will make.
This is because longer stake durations have better APY percentage.
The lower the locked staking duration you choose, the less profit you will receive in staking rewards.
This is due to low APY that is attached to lower stake durations.
To earn well, make sure that you choose a longer stake duration when staking shiba inu on binance.
Below is the APY that is attached to the respective shiba inu locked stake durations.
The APY across all the locked stake durations are;
- APY for 30 days locked stake duration is 3.67%
- APY for 60 days locked stake duration is 4.12%
- APY for 90 days locked stake duration is 5.25%
Step 6: Choose Your Shiba Inu Locked Stake Capital
After you have selected the locked stake duration that you want to use, the next thing is to select the amount of shiba inu that you want to stake.
This is the locked stake capital.
Before making the selection, make sure you look at the SHIB staking pool limits.
Every staking pool in binance has limits to the amount of coins that can be staked.
The SHIB staking pool also has these limits when you want to stake shiba inu on binance.
This limit consist of two limits which are the minimum limit and the maximum limit locked stake limit.
The minimum limit is the least amount of shiba inu that can be staked for that locked stake duration.
The maximum limit is the highest amount of shiba inu that can be staked for a particular locked stake duration.
Understand that the minimum and maximum limit across different stake durations are not the same.
The limits are different across all locked stake durations.
- For the 30 days locked stake period,
minimum limit is 1,000,000 shiba inu
Maximum limit is 498,7307,571.84 shiba inu
- For the 60 days locked stake period,
minimum limit is 1,000,000 shiba inu
Maximum limit is 1,000,000,000 shiba inu
- For the 90 days locked stake period,
minimum limit is 1,000,000 shiba inu
Maximum limit is 1,000,000,000 shiba inu
This limit will help guide you when you are choosing your staking capital irrespective of the locked stake duration you use.
Make sure you are within the specified staking limit when you are staking shiba inu on binance.
This means you should not stake below the minimum limit.
You should also not stake above the maximum limit allowed for a particular staking duration.
If you go against the specified limits, your staking will not be successful when you stake shiba inu on binance.
Step 7: Agree Binance Terms And Confirm Stake
After you have successfully chosen your locked stake duration and stake capital, the next thing is to agree to binance terms.
After you have agreed to binance terms, click on the confirm purchase button.
Clicking the confirm purchase is what will complete your shiba inu locked stake on the SHIB staking pool.
After that you will get a notification saying lock confirmed.
Read Also: How To Stake 1inch On Binance
Limitations of Staking Shiba Inu on Binance
1) Shiba Inu is only available in Locked Staking
As at the moment, staking shiba inu on binance is only available in the locked staking.
Sometimes irrespective of the fact that a crypto investor wants to HODL his or her crypto only, there are times of emergency that needs urgent withdrawal and this comes with some hours of delay when you stake shina inu on binance in locked staking.
What is Shiba Inu Staking Pool On Binance
Shiba inu staking pool on binance is a collection of a large number of users who stake their Shina inu as validators on binance.
Interest Rate Of Shiba Stake On Binance
The interest rate that you earn when you stake shiba inu on binance is not fixed.
This interest rate is variable and is mostly determined by the stake duration that you use.
What affects Interest Rate On Shiba Inu Staking Pool
At some point in time, you may witness a little change of fluctuation on the percentage of interest that you receive when you stake or want to stake shiba inu on binance.
Most of time, the interest rate increase and sometimes it also experiences some percentage of decrease.
To some validators on the shiba inu, it may seem as a frightening thing when they experience this type of occurance on the percentage of returns from their shiba stake on binance.
This change on the interest rate is determined by some factors which are;
- Number Of Validators On The Staking Pool
This is the major reason that causes fluctuations on the shiba inu staking pool when you join the pool as one of the active validators.
Bear in mind that shiba inu staking is just like mining a cryptocurrency.
The pool that easily mines a block is the pool that has a lot of active miners attached to it.
This large number of miners increases the mining power of the mining pool thereby increasing the chances of that mining pool to minena block easily.
This leads to more mining of blocks thereby leading to more generation of mining rewards.
This same procedure is what also happens in the shiba inu staking pool where validators in a staking pool combine their staking power to validate transactions on the shiba inu blockchain.
The more the power that a staking pool has, the more the transactions it can validate.
The more the transactions a staking pool can validate, the more stake rewards the staking pool generates .
This reward is then shared to all validators on the shiba inu staking pool according to the quantity of shiba inu they staked.
So if the staking pool that you join has little validators, the chances of you making profit is slim but if you stake with staking pools like binance shiba inu staking pool, you will earn well with through your shiba inu staking.
This is because there are so many validators on the shiba inu staking pool.
- Duration of Shiba Inu Selected
Before you conclude on your shiba inu stake on binance, you will have options to choose the duration of your staking.
Observe carefully that the percentage of returns on the annualized interest rate is different across all the staking durations.
This difference on percentage of annualized interest affects the stake rewards that you receive when you stake shiba inu on binance.
The higher the stake duration that you use, the higher the stake rewards that you receive throughout the staking duration that you use.
If you want to earn more stake rewards from staking shiba inu on binance, you have to use a longer stake duration when staking.
- Competitors Staking Pool
The size of the staking pool of other competitors has a direct effect on how many stake rewards can be earned when staking shiba inu.
When the size of your competitor’s staking pool keeps increasing and your staking pool decreases of has not received new validators, you lose staking power.
While you are losing staking power, your competitor’s staking pool that is receiving new validators keeps increasing in power.
This will make your competitors staking pools to validate transactions quickly thereby earning more staking rewards.
This affects you too as you will be able to verify few transactions because your staking pool’s power is not as high as that of your competitor.
This results in reduced staking rewards on your staking poo when you stake shiba inul.
Read Also: How To Stake Cardano or ADA On Binance
What Do You Get For Staking SHIB
What you get when you stake SHIB is a question any profit oriented shiba inu validator normally ask.
When you stake SHIB, you get rewarded with shiba inu cryyptoor SHIB as commonly called as a short name of shibab inu.
Apart from getting to know what you get for staking SHIB, another thing you should really pay attention is how to earn more Shiba inu when staking.
Just running to a staking pool and staking shiba inu will not help in increasing your stake rewards.
That is why it is important to consider some factors when staking shiba inu.
Some of the things you should also consider are;
- the stake duration
- APY of the staking pool.
These two factors play a vital role in earning more profit when you stake shiba inu.
How Do I Sell My Shiba Inu Coin Stake Rewards
Selling your shiba inu stake rewards is very simple.
This can be easily done on a crypto exchange like binance that has a large liquidity of shiba inu.
When you receive your shiba inu stake rewards, you can proceed to sell in the SHIB market of an exchange.
On the binance crypto exchange, there are a lot of trading pairs you can use to sell shiba inu.
You can use a stable coin trading pair and sell shiba inu to a stable coin.
An example of shiba inu with a stable coin trading pair is SHIB/USDT or SHIB/BUSD
You can as well use another cryptocurrency as a trading pair and sell shiba inu to that cryptocurrency.
An example of shiba inu with another cryptocurrency pair is SHIB/BTC, SHIB/BNB, SHIB,ADA or SHIB/XRP.
How Do I Get A Shiba Inu Coin
Getting a shiba coin can be done in a lot of ways.
You can get shiba inu coin by buying it from an exchange.
When buying shiba inu from an exchange, make sure you use a reputable exchange.
Also buy from an exchange with a good amount of liquidity depending on the amount to buy.
This will help you buy shiba inu at a cheaper rate.
Also use an exchange that has a good trading fee when buying shiba inu.
Binance cryptocurrency is an example of exchanges with low trading fees.
Another way on how you can get shiba inu is that you can get it for free.
Getting shiba inu for free can be done by ways hoke staking shiba inu on binance.
When you stake shiba inu on binance, you earn stake rewards in shiba inu for free.
Shiba Inu Price Prediction
Shiba inu has a lot of great future.
It has a lot of cryptocurrency influencers in its eco system who are working round the clock to increase the adoption of shiba inu.
World leading crypto exchanger like binance have also listed shiba inu for trading and for staking.
This has really exposes a lot of crypto users to use shiba inu for transactions and the adoption level keeps rising.
Before the end of 2025, shiba inu may record a value increase of up to $0.001 per shiba inu coin.
Shiba has found a good spot in the top 100 most valuable cryptocurrencies in the world.
But shiba still has a low price compared to other crypto on the top 100 chart.
This gives room to accumulate more shiba while it is cheap.
One of the best and cost effective ways is staking shiba inu on binance.
With this, you earn free shiba as staking rewards without spending a dime.