The user can receive additional earnings during the cryptocurrency hodl. To do this, you need to block coins for a certain period or indefinitely. How to drain cryptocurrency – read the instructions below.

Knowing what a hodle is, it is easy to figure out how to create a deposit in digital assets and what is required for this.

Staking on the Binance exchange

 

You need to register an account on the site. Verification is a prerequisite for gaining access to all the functionality of the exchange. The procedure takes from 2-3 hours to two business days.

Next, go to the “Earn” tab and select the appropriate offer for blocking coins. For example, Ethereum on a perpetual basis with a rate of 5% per annum. The next step is to buy ETH for staking.

In the “Input” tab, it is enough to follow the prompts to replenish the balance from a bank card or in another convenient way. After crediting funds to the balance of the exchange account, you need to go to the “Markets” section. Using the search, you can find the desired currency pair, for example, ETH-EUR.

Next, a buy order is created. You can buy any amount from 0.01 ETH. In the “Earn” tab, you must click the “Subscribe” button. Now you should select the desired offer, specify the amount and click “Confirm”.

Interest is accrued daily on the user’s main exchange balance, and it is allowed to withdraw coins from staking at any time.

How to “drain” cryptocurrency on Pancakeswap?

 

You need to start by learning: “how to create a MetaMask wallet” or “Trust Wallet”. After that, on the main page of the platform, click the “Connect Wallet” button. In a browser extension or an installed mobile application, confirm the operation.

On the decentralized exchange Pancakeswap, in the “Pools” or “Farming” tab, select the appropriate offer. Next, the amount for staking is indicated, after which a button appears for transferring the cryptocurrency to the exchange; follow the pop-up hints.

As soon as the coins arrive on the balance of the site, they will immediately be stacked. Interest is accrued daily, starting from the next day after opening the deposit.

WhyBit Staking

This exchange is also decentralized and is significantly inferior to Binance in terms of trading volumes. For example, here they offer to “drain”: BTC, DASH, ETH, LTC and other cryptocurrencies at a high annual percentage.

For example, a deposit in BTC for 180 days in December 2021 had a rate of up to 13% per annum (Binance’s offer is up to 3%); DASH could be staked at 7.5% and ETH at up to 10%. Often there are offers to block new coins and coins of various services with high profitability. The deposit is created in the same way as on the Binance exchange, but verification takes longer.

Output

Before draining cryptocurrency, it is important to soberly assess the possible risks. Only with this approach, you can get a stable passive income in digital assets.