SBI VC Trade Launches SHIB Staking Program for Passive Income

SBI VC Trade, the cryptocurrency arm of Japan’s SBI Group, has introduced a new program allowing Shiba Inu (SHIB) token holders to earn passive income through staking. This program offers an alternative for investors seeking to generate returns on their SHIB holdings while maintaining long-term positions.

SHIB Staking Period and Returns

The application window for the SHIB staking program opened on July 18th, 2024, and will close on August 1st, 2024. Following the application closure, the lending period will commence, lasting 28 days and concluding on August 29th, 2024. During this designated lending period, participants will receive a competitive annual return rate of 1.3% (including tax) on their deposited SHIB tokens.

Eligibility and Program Benefits

This program caters to investors who intend to hold their SHIB tokens for an extended period. It provides a mechanism to earn additional returns while their holdings are inactive. Essentially, users can leverage their idle SHIB by lending them on the platform and earning interest during the specified lending period.

It’s important to note that compared to a similar program offered by SBI VC Trade in April with a 2% return rate, this program boasts a slightly lower return but a more streamlined application process.

Comparison with Other Staking Opportunities

SBI VC Trade’s staking service extends beyond SHIB. The platform currently offers staking opportunities for 23 cryptocurrencies listed on their exchange. This latest program includes SHIB alongside XRP, Chainlink (LINK), Litecoin (LTC), Bitcoin (BTC), and Bitcoin Cash (BCH).

The application window for lending BTC and BCH closes on July 25th, with the lending period running from July 25th until August 22nd. Notably, BCH offers the highest annual return rate of 5% for this specific lending period.

For those seeking to earn passive income with XRP, LTC, LINK, or SHIB, the application window closes on August 1st. Among these options, SHIB boasts the highest annual return of 1.3%, followed by LTC and LINK at 0.5%, with XRP offering a return of 0.1%.

Participating in the SHIB staking program is straightforward. Users who wish to participate need to deposit their SHIB tokens on the SBI VC Trade platform during the designated application window. No further actions or responsibilities are required throughout the lending period.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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