How & Where to Stake Kasta Token
What is Kasta?
Kasta is a blockchain-based payment system that allows for smooth transactions across borders. The world is steering towards a crypto-based economy, and Kasta is playing its part in making that possible.
Masses are adopting cryptocurrency rapidly, and people are still working their way around the complexities that come with blockchain technology. Kasta is not just aiming to improve cross-border P2P transactions but will also bridge the gap between blockchain technology and the average person. The app provides a smooth experience to its users, ensuring they can make direct payments with convenience.
It also allows users to send and receive crypto hassle-free with just a few clicks. Unlike other crypto platforms, Kasta does not require you to fill in tons of information like network types and wallet addresses. You can send crypto to anyone by simply entering the registered phone number.
What does Kasta Staking Mean?
Crypto staking is a process in which a user can lock their crypto with a staking pool in order to validate transactions and earn rewards. Blockchain technology works by validating transactions and storing data on a ledger. In order to validate those transactions, computational power or staking is required.
Kasta does not use staking for transaction validation but it does allow users to lock their KASTA token in the app for validation.
Kasta staking means that you can earn passive income by locking-in/staking your KASTA tokens on the app or a crypto exchange. By locking in your Kasta, you can validate transactions and earn interest on your holdings.
How much you can earn by staking Kasta depends on a number of factors, including the amount of Kasta staked and the tier you enter.
How to Stake Kasta?
If you are looking to earn rewards with your KASTA tokens, there are two main ways to do it:
Locking Up with Kasta App
Locking up your Kasta tokens within the app gives you an opportunity to earn passive income and unlock more features. Users can earn an APY of up to 8% by locking their KASTA tokens in the app. The lockup period for the tokens on the Kasta app is six months
The feature will lock away your tokens for six months, but it will also help you earn perks like discounted exchange fees, higher APYs, and customized debit cards.
Staking on a Crypto Exchange
You can also stake your KASTA tokens on a crypto exchange and can earn interest on it. Currently, the KASTA token is available for staking only on ByBit exchange, and you can buy and stake KASTA on it easily.
How to Stake KASTA on ByBit
Bybit has a flexible staking option, and it also hosts KASTA staking. With this feature, you can stake a maximum of 50,000 KASTA and can earn an APY of 4%.
To Stake KASTA tokens, you need to follow the given steps:
- Go to the Bybit earn tab
- Click on flexible savings
- Browse and look for the option to stake KASTA tokens
- On the confirmation page, you will be asked to enter the number of KASTA you want to stake. You can stake up to 50,000 KASTA at one time.
- You can later check “Effective Orders” to confirm whether your order has gone through or not.
Where to Stake Kasta Token?
As mentioned above, Kasta tokens can be staked on the Kasta app and the Bybit exchange. You can always opt for the option that best suits your needs.
Is Staking Kasta Worth It?
Staking KASTA tokens is an excellent way of earning passive tokens. If you are planning to hold your KASTA tokens for the long term, then it is wise to stake it on Bybit or lock it up with the Kasta app. Not only will you be able to earn an APY on it, but you can also unlock other benefits and can take better advantage of the Kasta app in the future.
Benefits of Staking Kasta
KASTA holders can also stake their tokens to earn more benefits. With the help of Kasta staking, users can generate passive income on their KASTA holdings and can contribute to the KASTA community.
By Staking KASTA tokens, users will be able to enjoy several benefits, including:
- Customized Debit Cards
KASTA holders will in the future also be given debit cards with different designs depending on the number of tokens they have staked. The top-tier users who have a large number of KASTA tokens staked will also be given the option to customize their own debit cards.
- Better Cashback
Different debit cards will be offered to KASTA staking participants in the future depending on the number of KASTA tokens they have staked. Every debit card would be on a different level, and the higher the level, the better the cashback will be.
- Stake With Friends
Kasta will also allow its users to maximize their rewards by staking KASTA tokens with their friends. Staking tokens with friends will allow the users to build bigger stake pools, thus enjoying better staking rewards.
- Better Yields
By staking their KASTA tokens, users can get higher savings yields. This depends entirely on how much KASTA token you are locking up; the more you lock, the better yield you will get.
Frequently Asked Questions (FAQ)
1. Is there a limit to the number of tokens I can stake or lock up?
There is no limit to the number of tokens you can lock up in the Kasta app. However, if you are staking your KASTA tokens on Bybit, you will only be allowed to stake 50,000 KASTA at a time.
2. How much yield can I earn from Kasta staking?
If you are staking your Kasta tokens on the kasta app, you earn up to 8% apy. On the Bybit app, you can earn a guaranteed APY of 4%.
3. How is the Kasta APY funded?
Kasta’s APT is funded by the reward bucket, which covers %10 of the total supply. The company will also buy back tokens with their revenue, and that will also contribute to the APY.