What is crypto APY? Can this be a way to turbocharge your returns in 2024? Crypto All-Stars is offering a 1,057% APY.
There are multiple ways to earn money safely in crypto. Some choose to lend their ETH, wBTC, and other tokens via protocols like Maker, Venus, and others. Others want to invest safely. Most choose to stake.
The decision to stake and help secure a platform like the BNB Chain or Ethereum is deliberate and can further fortify the broader ecosystem.
Lending tokens and acting like a mini bank is quite easy. Assuming you hold ETH or BNB, you must search for a lending protocol like Maker or Aave and lend straight from your MetaMask or Trust wallet. It is straightforward.
Meanwhile, not all platforms support staking. Only protocols using proof-of-stake and its variants allow users to lock up their assets for a year and receive a yield at the end.
Depending on the platform, staking can be the safest option.
Some even consider staking ETH nearly risk-free, like holding United States Treasuries and notes.
Over and above everything, when staking, investors must consider the current crypto APY.
What is Crypto APY?
In simple terms, the annual percentage yield (APY) measures the potential yearly return on a locked asset. It factors in the effects of compounding interest.
When calculating the APY, investors must know the amount they are locking in and the estimated timeframe.
From this, it is easy to calculate the potential return on investment during this period.
The longer one stakes, the more the return.
However, take note: The more users stake an asset, the lower the APY.
To boost their crypto portfolio, investors should search for platforms or protocols offering high APY before staking their assets, say USDT or UNI, or purchasing the native token and staking it for higher rewards.
Currently, all eyes are on Crypto All-Stars.
Crypto All-Stars Offers A 1,057% APY: Highest Staking Rewards in 2024?
Crypto All-Stars is a project fusing the elements of meme coin culture and DeFi.
As of September 20, the Crypto All-Stars project was fundraising through an ICO.
Over $1.4 million has been raised so far, and STARS, the native token, is available for $0.0014535.
Interested people can buy using ETH, USDT, BNB, and even meme coins like PEPE.
A key innovation distinguishing Crypto All-Stars from competitors is the MemeVault staking platform.
The platform complies with the ERC-1155 standard, permitting users to stake multiple meme coins like BRETT, PEPE, and the rest in one sweep.
Those who stake these top meme coins receive STARS rewards.
What’s more, STARS stakers receive even more rewards.
Presently, the STARS staking APY stands at 1,057%.
Interest is high; over 696 million STARS had been staked as of press time, and the number will only rise as the presale proceeds.
Supporters are banking on STARS rallying on launch and the high-staking APY as incentives to purchase even more before the presale ends.
One analyst on YouTube already believes STARS is a gem that can easily 10X after listing on top DEXes.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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