How to Stake & Farm POWR?

Stake & Farm

POWR, or Power Ledger, is a blockchain-based platform. It was launched in 2016 to enable local areas to distribute and sell solar power to their neighbours. So, it is a technology company. It applies blockchain to facilitate energy trading. 

POWR can be staked. Multiple major wallets suc as Ledger Nano support this option. So, if you are going to swap your POWR to BCD, do not hurry. More than 30 countries have already joined the POWR network. So, the project is promising.

How to Choose a Staking Platform

Staking can bring different benefits on different platforms. So, approach the platform or wallet selection carefully. Normally, all staking options offer a special calculator. Use it to check whether the selected option is among the most profitable. 

safety is one more reason to choose carefully. While some platforms will offer a staking opportunity without lower limits, you still will store your coins there. Moreover, staking coins means that they will be “locked” in your account or an intermediary wallet for a while. Along with it, your income for staking also cannot be withdrawn immediately. So, the platform or the wallet safety are prerequisites to ensure the safety of your funds. 

Withdrawal requirements matter, too. So, if the withdrawal limit is high, say, 1,000 USD and higher, you will wait for the awards to accumulate for ages unless you keep there A LOT of money. So, it is better to choose the platform or wallet with a low withdrawal limit. 

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Purchase POWR and Stake

Once the platform is selected, it is time to buy your coins if you still don’t have them. You can do it on with no mandatory registration or verification. Or you can register an account and join an affiliate program to benefit more. 

Once the coins are purchased, you can stake them in a selected place and get your rewards for staking.

What about POWR Farming?

Now, yield farming is extended to specific projects (DeFi, tokens) only, and only for some projects. It is pretty possible that with time, a project will appear that will allow POWR farming. Now, however, it is not the case.

However, your yield farming efforts can still bring you POWR, even though indirectly. So, you can farm some DeFi or tokens, exchange them to cryptocurrency (there are special marketplaces to buy and sell them). If the mentioned marketplace supports POWR, you can swap your tokens directly to the needed coins. If it is not the case, you can exchange the acquired cryptocurrency to Power Ledger on the majority of instant platforms, including where you can swap more than 280 coins and tokens.

Bottom Line

The opportunities offered by the cryptocurrency world are growing exponentially. What was impossible just a couple of years ago, now is becoming mainstream. POWR is changing the way energy is traded. We hope that in the future, it will change the entire energy market and turn it into a more sustainable and effective infrastructure.


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