Where To Stake Shiba Inu - Best SHIB Staking Rewards In 2024

How Does Staking Shiba Inu Work?

Shiba Inu staking is a fairly simple process wherein you take your SHIB tokens and use a staking platform such as centralized exchanges, decentralized exchanges, or Shiba Swap, in order to earn additional SHIB tokens as a reward. Staked Shiba tokens can be withdrawn at any time, as there is no locked staking for Shiba Inu.

What Are the Best Ways to Stake Shiba Inu Tokens?

There are three main ways to stake Shiba Inu coins: on centralized exchanges (CEX), decentralized exchange (DEX), and directly to the Shiba ecosystem platform ShibaSwap.

ShibaSwap is available on the only Shiba Inu network which is the Ethereum blockchain. Below we’ll give you basic steps on how to stake Shiba Inu through all three methods. The first step before being able to stake SHIB tokens through any of the below methods is to buy Shiba Inu with digital or fiat currency.

This can be done through centralized platforms, or decentralized ones (provided you already have digital assets).

How to Stake Shiba Inu on a DEX

To begin staking Shiba Inu tokens on a decentralized exchange such as Uniswap you will also need a secondary asset such as Ethereum (ETH). This is because you have to join a staking pool, or liquidity pool as it’s often referred to. In order to add liquidity to a staking pool on Uniswap, you have to have two assets in equivalent dollar amounts.

For example, if you have $100 in SHIB tokens, you’ll also need $100 in ETH to add the entirety of your holdings to the pool. You then add liquidity to the pool, and in return you earn rewards that are prorated to your contribution.

Staking SHIB on Uniswap

How to Stake Shiba Inu (SHIB) on ShibaSwap?

For Shiba Inu staking on ShibaSwap, you first need to connect your wallet such as a MetaMask to the ShibaSwap platform. Then, navigate to the BURY section (which also says “Stake Tokens”), choose the amount of Shiba Inu you want to stake, then confirm the transaction using your wallet when prompted.

There are other aspects to the SHIB army platform, including the Doggy DAO, and a built-in exchange.

Staking SHIB on ShibaSwap

How Much Can You Earn Staking SHIB Tokens?

Usually, the amount you can of staking rewards you can earn from staking Shiba Inu (SHIB) tokens depends on where you choose to stake SHIB. However, staking directly on the Shiba Inu platform ShibaSwap is the only way to do so without it being part of providing liquidity (staking on a DEX), and staking SHIB on a CEX ostensibly just uses ShibaSwap and stake the SHIB tokens on your behalf. The rate for staking Shiba Inu on ShibaSwap and through a CEX like Binance has the same APR of 0.2%, which is quite low. The rate for using something like Uniswap is likely higher, but comes with more risk.

Benefits of Staking Shiba Inu Tokens

Shiba Inu staking only gives a small APR that is paid out in Shiba Inu token, and is essentially the only benefit to staking Shiba Inu. There are higher returns for staking BONE tokens than for staking SHIB tokens, but BONE has even less utility than SHIB and is only useable within the Shiba Inu ecosystem.

What are the Risks of Staking Shiba Inu

There aren’t really any risks to staking Shiba Inu unless you’re providing liquidity to a pool on a DEX such as Uniswap. In this case, you face the risk of impermanent loss.

The Bottom Line

Shiba staking isn’t all that lucrative, especially compared to other assets such as Cardano, Ethereum, and Solana, which all offer over 4% in APR compared to the 0.2% you’ll get when you stake SHIB tokens. If you already own SHIB, it’s not the worst idea to stake it, however, you can get higher returns with just about any asset other than Shiba Inu.