5 Ways You Can ‘Stake’ MANA Tokens

Last updated on March 1st, 2022

You’ve just bought some MANA tokens and may be looking to stake them to earn more MANA.

However, MANA is a Proof of Work token, so you technically aren’t able to stake MANA tokens to earn rewards!

Instead, there are some platforms that allow you to lend out your MANA tokens to earn interest.

How to stake MANA

Here are 5 ways you can stake your MANA tokens:

1. Celsius
2. Gemini Earn
3. Crypto.com
4. Binance Earn
5. AAX

This is a summary of all of the methods,

Platform	Minimum Deposit	Lock-In Period
Celsius	None	Flexible
Gemini Earn	None	Flexible
Crypto.com	750 MANA	Flexible, 1 / 3 months
Binance	0.01 MANA	Flexible
AAX	160 MANA	Flexible, 7 / 14 / 30 days

and here is each method explained in-depth:

Celsius

Celsius was founded in 2017 and is headquartered in New York. Here’s how you can start earning interest on this platform:

Go to ‘Menu → Transfer’ on Celsius

When you’re on the Celsius app, you would need to go to the Celsius menu and tap on ‘Transfer‘.

Select MANA from the dropdown menu

When you’re on this screen, you’ll need to select the currency that you wish to transfer into Celsius.

Copy the MANA deposit address from the Celsius app

After you select a currency, you will be given a wallet address. Celsius will give you a warning that they only accept ERC20 deposits of MANA.

After selecting ‘I Understand‘, you will be shown the MANA deposit address which you can copy to the platform that you’re withdrawing from.

Your wallet address is one long string of letters and numbers. It is very important that you copy it letter by letter! If you make any mistake in the wallet address, your crypto will be lost forever!

As such, the best way will be to copy your wallet address directly.

If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.

This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!

After you’ve deposited your MANA to Celsius, you will start earning interest on it.

Verdict

Here are some of the key features when you’re earning interest from Celsius:

Minimum Deposit	None
Lock-Up Period	None

Celsius is a flexible way to earn interest on MANA. Moreover, withdrawals from Celsius are free, which helps you to save a lot on fees!

As such, Celsius is a great platform to consider if you only have a small sum of MANA.

Gemini Earn

Gemini Earn is another platform where you can earn interest on MANA. Gemini also has an exchange platform (Active Trader) which allows you to buy MANA from USD.

Once you have MANA on Gemini, you can select ‘Earn‘ and your MANA will be deposited on Gemini Earn.

The process is rather fast, and you can view my review on Gemini Earn to find out more.

Verdict

Here are some of the key features when you’re earning interest from Gemini Earn:

Minimum Deposit	None
Lock-Up Period	None

While there is no lock-up period, it may take a while for your funds to return to your Gemini account after you have selected ‘Redeem‘.

Crypto.com

Crypto.com was founded in June 2016. They are based in Hong Kong, and serves over 10 million customers.

Here’s how you can earn interest on MANA on their app:

Go to ‘Earn’ on the Crypto.com App

To start lending your crypto, you will need to go to the ‘Earn’ tab.

Select the ‘+’ sign and select MANA as the currency you want to lend

After that, you’ll need to select the ‘+’ sign on Crypto Earn,

and then select MANA as the currency that you wish to deposit.

Select the term that you wish to lend MANA

After that, you will need to select the term that you wish to lend out MANA.

There are 3 different terms:

1. Flexible
2. 1 Month
3. 3 Months

For the flexible term, you are able to withdraw MANA at any time. However, the interest that you earn is much lower.

If you choose either the 1 month or 3 month term, the MANA that you deposit will be locked up for that period of time.

Even if the price of MANA starts to change, you will be unable to sell it!

However, the benefit is that you will be able to earn a higher interest compared to the flexible term.

Another factor that affects the interest that you earn is the amount of CRO that you staked on the Crypto.com App:

Term	Interest Rate
Flexible (Ruby or Lower)	0.5%
Flexible (Jade Green or Higher)	1%
1 Month (Ruby or Lower)	1%
1 Month (Jade Green or Higher)	2%
3 Months (Ruby or Lower)	2%
3 Months (Jade Green or Higher)	3%

The amount of CRO that you stake depends on which Crypto.com Visa card you wish to own.

If you own the Ruby Steel card, you will be able to receive a CRO rebate if you use the Crypto.com Visa card to pay for Spotify!

Agree to the terms and conditions of Crypto.com Earn

There are certain Terms and Conditions that you’ll need to accept.

By accepting the Earn and Credit T&Cs, you are accepting the risks involved with lending your crypto. There could be a risk that you will lose all of your cryptocurrency if Crypto.com closes down as well!

Select the amount of MANA that you wish to lend out

The last part is that you’ll need to select the amount of MANA that you wish to deposit to Crypto.com Earn.

You are required to deposit a minimum of 750 MANA to use this feature. This is quite a huge sum, and you are unable to deposit any sum that is smaller than that!

After confirming your deposit, you will reach this confirmation page.

Verdict

Here are some of the key features when you’re earning interest from Crypto.com:

Minimum Deposit	750 MANA
Lock-Up Period	Flexible, 1 / 3 months

You are able to choose the lock-up period, depending on the flexibility you wish to have with your MANA funds.

However, the shorter the term, the lower the interest you’ll receive!

Moreover, Crypto.com requires quite a large minimum deposit of 750 MANA, which can be quite a huge sum!

Crypto.com’s Earn is more suitable if you have a large amount of MANA and are thinking of holding it so that it’ll increase in value in the long term.

Binance Earn

Binance is one of the largest cryptocurrency exchanges in the world, and they have an Earn program where you can earn interest on MANA as well.

Here’s how you can earn interest on MANA with Binance Earn:

1. Go to ‘Wallets’ and then select ‘Earn’
2. Select ‘Subscribe’ and search for MANA
3. Select your preferred term for lending out MANA
4. Enter the transaction details

Go to ‘Wallets’ and then select ‘Earn’

On the home page of Binance, you’ll need to go to the ‘Wallets‘ tab and select Earn.

Select ‘Subscribe’ and search for MANA

Binance offers a variety of savings products for different cryptocurrencies. You will need to search for MANA.

Select your preferred term for lending out MANA

This will allow you to view some of the savings products that Binance offers for MANA.

Currently, Binance only offers a flexible savings plan where you can withdraw your funds at any time. However, the interest rate offered may be lower compared to other platforms.

Enter the transaction details

The last step you’ll need to do is to enter the amount of MANA you wish to subscribe to the savings plan.

After this, the MANA that you’ve deposited will start earning interest from the next day onwards.

Verdict

Here are some of the key features when you’re earning interest from Binance:

Minimum Deposit	0.01 MANA
Lock-Up Period	Flexible

Binance currently only offers a flexible lockup period for MANA. The interest rate is low, but you are free to redeem your funds almost instantly.

As such, Binance is a good choice if you intend to quickly cash in on your profits.

AAX

AAX is a platform where you can earn a decent amount of interest on your MANA too.

However, you will need to lock up your funds if you want to earn a higher interest rate.

Here’s how you can earn interest on MANA with AAX:

1. Go to ‘Assets’
2. Select the ‘Savings’ tab and select ‘Buy Savings’
3. Search for MANA
4. Select the term and enter the transaction details

#1 Go to ‘Assets’

First, you’ll need to go to the Assets tab on AAX.

#2 Select the ‘Savings’ tab and select ‘Buy Savings’

After that, select the Savings tab,

and then select ‘Buy Savings‘.

#3 Search for MANA

This will bring you to the AAX Savings page.

You will need to search for MANA,

which will show all of the available terms.

AAX offers both fixed and flexible terms.

#4 Select the term and enter the transaction details

After selecting the term that you wish to subscribe to, you will need to select the amount of MANA that you wish to deposit.

Verdict

Here are some of the key features when you’re earning interest from AAX:

Minimum Deposit	160 MANA
Lock-Up Period	Flexible, 7 / 14 / 30 days

AAX has the highest minimum deposit required out of all platforms. As such, it will only be useful if you own quite a huge amount of MANA.

Conclusion

While you can’t stake MANA, you still can lend out your funds to earn some interest.

This is similar to how you would lend out XRP instead of staking it.

When you are considering the best platform, the 2 main considerations you should have include:

1. The minimum amount required to start earning interest
2. The lockup period when subscribing to a savings plan

If you’re looking to generate tax reports for your crypto trades, you can consider using Koinly, which allows you to track your transactions from 350+ exchanges and 50+ crypto wallets.

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If you are interested in signing up for any of the products mentioned above, you can check them out below!

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If you are interested in signing up for Crypto.com, you can use my referral link and enter the code ‘x2kfzusxq6‘.

We will both receive $25 USD worth of CRO in our Crypto Wallet.

Here’s what you’ll need to do:

1. Sign up for a Crypto.com account
2. Enter my referral code: ‘x2kfzusxq6‘
3. Stake enough CRO to unlock a Ruby Steel card or higher

The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.

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