How to Stake Dogecoin and Maximize Your Crypto Earnings
Dogecoin’s (DOGE) whimsical origins as a meme coin have not prevented it from acquiring significant traction in the cryptocurrency industry. As its popularity grows, so does interest in Dogecoin staking as a way to generate passive revenue.
Bybit and Binance are well-known for their staking services, but Dogecoin’s architecture raises issues about how—and if—staking is conceivable for this iconic cryptocurrency. Let’s go into the depths and learn everything you need to know about Dogecoin staking, including tutorials and key concerns.
How to Stake Dogecoin
Now, let’s go over how to stake Dogecoin and look at other options that provide similar rewards. While traditional Dogecoin staking is not currently possible, I will discuss the possibilities for earning rewards and maximizing your earnings.
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Bybit
According to the warning above, you cannot technically stake DOGE on Bybit, but the site does provide a similar method via its Savings program. Let me walk you through the steps.
Step 1: Log into your Bybit account. Once logged in, navigate to the [Finance] tab in the top menu bar. Hover over it to reveal the dropdown option, then select [Earn]. To access staking options for Dogecoin and other assets, go to the Earn tab and click on [Bybit Savings].
Step 2: Browse the available staking plans by coin, staking time, APR, and term. Select [Dogecoin fixed-term plan] and click [Stake Now].
Step 3: Enter the amount of DOGE you want to stake, examine the settings, and confirm by clicking [Stake Now].
Step 4: To access your staking history, click [access Order] in the successful order notification or [Assets] at the top right of the Bybit page to see your current staking orders.
Once the staking is complete, the transaction details will appear in your staking history.
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Binance
If you want to stake Dogecoin, Binance Earn, which is available on both the desktop platform and the mobile app, provides a convenient option to do so. While traditional staking is not accessible for Dogecoin, Binance Earn allows you to obtain rewards via flexible or locked savings. Here’s a thorough guide on how to stake Dogecoin on Binance Earn:
Binance Earn on the Desktop
Here, I will walk you through the process of staking Dogecoin on Binance Earn, beginning with the desktop platform.
Step 1: Log in to your Binance account and then select [Earn] from the top menu.
Step 2: You will be directed to the Binance Earn interface, where you may view items such as Simple Earn, High Yield, and Auto-Invest. A summary of your holdings is displayed on the right-hand side, and estimated 30-day returns are displayed.
Step 3: Scroll down to see the available products. Use the search box or filters to find DOGE and explore its features, such as expected APR and duration.
Step 4: Choose an appropriate product and click [Subscribe]. Enter the amount of DOGE you want to assign, see the summary, and click [Confirm] when finished.
Step 5: Before making any final decisions, review the [Product Rules] page for further information. After following these steps, your Dogecoin will be successfully staked through the Binance Earn program!
Keep a watch on your returns, since they may fluctuate based on market conditions and the product type you chose. For continuing management, you may always return to the Binance Earn dashboard to amend or withdraw your funds as needed.
Binance Earn on Mobile App
Learning how to stake Dogecoin on Binance with the mobile app is as simple and efficient as using the desktop platform. With a few taps, you may access Binance Earn and receive rewards. Here’s how you do it step by step:
Step 1: From the Binance homepage, select the [Earn] option.
Step 2: Use the search bar to find and pick [DOGE].
Step 3: In the pop-up window for Dogecoin Protected Products, select your desired method. This time, I will select the [Flexible] option.
Step 4: To allocate your Dogecoin, click [Subscribe]. Once validated, your staked DOGE will display in your wallet’s [Asset] section.
This strategy allows you to conveniently manage your staked assets while still having the ability to access them at any moment. It’s a simple and effective technique to generate passive income from your Dogecoin holdings.
MEXC
Whether you’re new to staking or searching for a simple way to make passive revenue, MEXC provides a simple platform for Dogecoin stakes. To begin, complete these simple steps to start earning prizes.
Step 1: Log into your MEXC account via the web interface. Once logged in, look for the [More] option in the top navigation bar. Click on it, then select [Savings] from the dropdown menu.
Step 2: On the Savings tab, you’ll see two categories: [Savings] and [Simple Earn]. A list of supported tokens for each software will be shown. Dogecoin is only available through the Savings program, so make sure you’re in the [Savings] area.
Step 3: To quickly find Dogecoin, use the search box on the Savings page. Type “DOGE” and wait for the system to suggest Dogecoin as an alternative.
Step 4: Once Dogecoin is on the list, click the [Stake Now] button next to it. This will take you to a confirmation screen.
Step 5: Here you will find information regarding the staking process. For Flexible Savings, the screen will show the [Subscription Date] (the day you start staking) and the [Value Date] (when your staking period starts). Flexible Savings lets you withdraw your Dogecoin at any moment.
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Step 6: Carefully review all of the facts, particularly the interest rates and conditions. Remember that the yield may differ based on the amount you deposit—smaller deposits often earn greater rates, whereas larger deposits may give slightly lower rates. If everything seems good, confirm the transaction to begin Dogecoin staking.
Yes, staking Dogecoin on MEXC Savings is that simple! Once your subscription is activated, you may use the Savings dashboard to track your rewards.