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Crypto Curious: Let Your $NURD Earn Rewards While You Sleep With Staking & Farming Pools

If you have $NURD and you’re not taking advantage of any of the farming or staking opportunities, you are missing out!

Okay, you’ve set up a wallet, purchased some Algos, and swapped for a bag of $NURD. Now what? Well, it’s time to put those tokens to work.

Pools, liquidity, farming, staking. What does any of this have to do with cryptocurrency?

  • The terms staking and farming are often used almost interchangeably. I’m sure there’s an important difference, but you don’t need to know that to get started.
  • I like to think of pools as crowdsourced Scrooge McDuck swimming pools of tokens.
  • Liquidity has to do with the amount of tokens that can be traded at once.

Basically, farming is a way to earn rewards on your tokens, like getting interest or a stock dividend.

Yep, it’s kind of like getting free crypto.

Each project handles pools a little bit differently, so if you aren’t sure how it works, don’t be afraid to reach out to the project via their contact info.

  • Usually you need to first “opt in” to the asset via your wallet.
  • You may need to visit the page to claim your earnings each day if you want to re-invest them right away.
  • In some cases, the tokens will magically appear in your wallet.
  • In the case of pairs like $NURD/$ALGF, you may need to go to Tinyman and click “add liquidity” before you can go back and stake.

Here are some of the places where you can make your $NURD (and other tokens) work for you:

  • AlgoFund
  • Algostake
  • Yieldly
  • Humble
  • The Algo Faucet

You don’t have to be holding a lot of tokens to get started with staking, but the more you stake, the more you can earn! I’ve also found staking to be a great way to get introduced to new projects through their partnerships. As always, this is not financial advice, so do your own research.

Read this post and more on my Typeshare Social Blog

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Jennifer Keene

Jennifer Keene

218 Followers

I write short fun pieces that people actually have time to read. Topics Include: Algorand, Crypto, Travel, Fiction. I am a childfree, vegan, digital nomad.