1600% APR — 3 easy steps to passive income 🥳
In this dip (some may call it a bearish market) DeFi is your crypto route to passive success. It takes a little work though and comes with its risks. Staking STATIC & BUSD is performing well. Here is your full guide to staking on chargedefi.fi
DYOR before you do any investing…..
That said, here is what I have invested in the Charge Boardroom (chargedefi.fi), so let’s see how we go. Lets start of with the more safer , newbie and suggested approach of staking via the Static-BUSD LP token.
Prerequisites
- You have a Metamask wallet setup. (follow this tutorial)
- Add the BNB network to Metamask. (follow this tutorial)
- Understand LP tokens and how they are used. (follow this tutorial)
- Sign up to the ChargeDefi telegram group and follow Q&A’s occurring there every few minutes. (follow the group for a few days, best DYOR you can do)
- Read the getting started guide.
- Your are only investing what you can afford to loose.
I can’t say enough, get comfortable with the community before you ape in…
Steps
- Purchase BNB on your favourite exchange & transfer to metamask wallet on the BNB network
- Purchase Static-BUSD LP
- Stake in the boardroom
- Compound manually
Step 1: Purchase BNB & transfer to metamask
Once you have purchased your BNB, copy your metamask wallet address and paste in withdraw in your exchange.
Be sure to choose BEP20 network.
Once you see your BNB in metamask, you can continue.
Step 2: Purchase Static-BUSD LP
You now need to purchase your LP token for staking.
- You will be asked to approve permission to the Cake-LP token.
- Hit the + button and then ‘Get LP’
- Enter your amount of BNB and it will split it 50/50 into STATIC and BUSD.
- After purchase, confirm the Cake-LP tokens in your wallet.
Step 3: Stake Static-BUSD
You are now ready to stake, choose the ‘Deposit LP’, enter your amount or choose Max and Confirm.
Step 4: Compound
So, compounding is vital to get the great returns. My next article will show you that step. Leave your LP tokens to gain some rewards for a few days and then move onto the next article.