Easy Centaur Staking Guide for Newcomers
Since mining has gotten more difficult and consumes too many resources, newcomers to digital assets find staking on exchanges to be a viable option. It’s also a way to diversify assets while lowering blockchain transaction fees.
Today, we have over 11000 crypto tokens that are being staked on different platforms. One of the top performing crypto tokens out of this expanding list of 11000 cryptocurrencies is $CNTR by Centaur.
While there are different methods and platforms where $CNTR is available to buy and sell, this Centaur Staking guide will help you to make better investment choice.
What is Centaur?
Centaur is a groundbreaking DeFi project that intends to bridge the gap between the decentralized finance sector and the traditional banking system. This project makes use of the fail-safe characteristics of centralized systems while using key features of the blockchain. Centaur provides public access to semi-decentralized loans, asset management, and digital payments.
In November 2020, the platform released Centaur Staking V2, the second version of their native staking platform, where you can earn a monthly passive income by staking $CNTR tokens.
How Can You Stake $CNTR on Centaur Staking V2?
It’s pretty simple.
To begin with, no minimum amount is required to participate in V2 staking, however users should be aware of the gas price.
For former users, the process begins on the Centaur Staking V2 page by entering the appropriate amount of CNTR for staking. The V2 contact will immediately remove the CNTR from V1 and stake the amount into V2 if the entered amount is equal to or less than the relevant user’s V1 staked amount that is already unbonded (available to withdraw).
You must use a non-custodial wallet, such as MetaMask, that supports interaction with the staking user interface. Users can go to https://metamask.io/ to download and set up the MetaMask wallet.
Stake $CNTR on Group Farming
The goal of group farming is to put crypto assets to work in a way that maximizes potential reward while minimizing risk.
UniFarm is a platform that rewards investors with a greater APY (Annual Percentage Yield) in exchange for more liquidity and a higher Total Value Locked (TVL).
The high returns are distributed around the network in a variety of high-quality tokens.
Long-term investors with a broad token portfolio can use group farming to gain exposure to different projects and obtain more tokens without having to pay more money.
$CNTR too has been seen being part of the earlier UniFarm Cohort where users could earn handsome yields by staking centaur tokens.
UniFarm is a one-of-a-kind staking solution where the best projects in DeFi space come together to provide value to investors. UniFarm allows you to stake one token but earn multiple high-value tokens, so in addition to a great APY, your returns are automatically diversified as well.