Here is how you can make passive income while you are holding precious Cardano Foundation ($ADA).
Two ways to earn rewards by staking ADA on CroxSwap. Do you get any additional rewards for holding your asset on CEX? Not really. You can move the same asset to CroxSwap Decentralized Exchange & a Yield Farm to make passive income with your precious asset.
What are those two ways?
1. Stake $ADA in staking pools
2. Provide Liquidity in ADA-BNB farm & Stake the LP tokens.
How to transfer your $ADA from Binance Exchange to CroxSwap?
Step 1: Create a wallet using metamask or trustwallet ( Watch tutorial here)
Step 2: Add Binance Smartchain Network to your metamask using custom RPC settings (tutorial here )
Step 3 : Copy your 0x address(BEP20) created on the wallet
Step 4: Go to Binance Exchange and withdraw $ADA. Select BEP20(BSC) and ensure network is correct then send it. Check out screenshots below for reference.
Step 5: Go to https://app.croxswap.com/pools/crox and scroll down to ADA pool
Step 6: Approve Contract (make sure you have some BNB for gas fees)
Step 7: Stake your ADA Bep20 tokens on CroxSwap and start earning.
You can unstake whenever you want and swap ADA back to BNB or BUSD or any other BEP20 token using CroxSwap exchange.
There is an alternative method if you want to Buy some new ADA tokens on Binance Smartchain. You can simply Swap BNB or BUSD to ADA on Croxswap Exchange. (refer to a screenshot below)
Second way to earn is to provide liquidity for ADA-BNB pair and stake your LP tokens on Crox Farms to earn CROX rewards.
a. You get 0.5% swap fees share for providing liquidity
b. You earn $CROX tokens for staking LP tokens in the farm
How to add liquidity?
1. Go to https://exchange.croxswap.com/
2. Select “Add Liquidity”
3. Select BNB & ADA as shown in the picture
4. Approve BNB & ADA contract
5. Supply liquidity to the pool
How to stake LP Tokens after adding liquidity?
1. Go to https://app.croxswap.com/farms
2. Scroll down to ADA-BNB farm
3. Approve contract and Stake your LP Tokens in ADA-BNB farm to start earning $CROX tokens.
You can unstake and remove liquidity in the reverse order anytime and get back your staked tokens and earned CROX rewards.
Check out CroxSwap social media and whitepaper to learn more about CROX and it’s roadmap.
Telegram Group : https://t.me/croxswap
Telegram Announcements: https://t.me/croxswapchannel