Are you wondering what are the best crypto-staking platforms? We’ve researched how you can earn a passive income from your crypto assets, so you don’t have to. During an unpredictable bear market, it can be tough to earn interest or rewards, but it’s still possible.
PoS blockchains still require individuals to stake their assets to verify transactions, and they offer staking rewards for their help. Read on to discover the best staking services available for worldwide users.
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In this guide:
- What is crypto staking?
- 10 best crypto staking platforms
- Uphold
- Kraken
- Margex
- Bybit
- Binance
- Nexo
- ZenGo
- Gate.io
- CoinLoan
- Is staking a good option during a bear market?
- How to easily stake your crypto?
- Crypto staking platforms compared
- How to choose the best crypto staking platforms?
- What’s the best crypto-staking platform for you?
- Frequently asked questions
What is crypto staking?
Crypto staking is the act of locking up cryptocurrencies on a blockchain network to help verify and confirm transactions in exchange for crypto staking rewards or staking fees.
You can stake cryptocurrency only on proof-of-stake (PoS) blockchains, such as Cardano, Solana, or Polygon, but there are many other blockchains that use this consensus mechanism. Furthermore, it is important to note that not all tokens are suitable for staking.
Crypto holders who deposit their coins for staking are called delegators. They can choose the validator (network node) to deposit their coins. In a nutshell, staking crypto contributes toward decentralizing and securing the blockchain in exchange for staking benefits.
Staking is also a great way for crypto investors to generate passive income with staking. This is especially true if you have high-interest rate staking yields on the cryptocurrencies that you choose.
However, not all staking platforms or options are the same. Luckily, we’ve researched the best crypto staking options that you can choose from to suit your personal needs.
10 best crypto staking platforms
Availability
U.S., U.K., & 4+
Welcome bonus
Seasonal cashback for deposit
Cryptos
250+
Interest rate
Up to 16% APY
Uphold is a global digital asset trading platform. Customers have the opportunity to purchase more than 250 cryptocurrencies. However, this is not the only asset that customers can buy. You can also purchase precious metals and fiat currencies of multiple countries. Additionally, the platform allows staking, and even has a card with perks.
32 cryptocurrencies with APY up to 16%
– ATOM: 16%
– FTM: 0.35%
– ETH: 4.2%
– AVAX: 4.5%
Pros
- Various assets (e.g., crypto, precious metals, & fiat)
- More than 250 cryptocurrencies available
- Available on iOS and Android
- Has a crypto card
Cons
- Limited regional availability
- U.S. users limited services
1. Create an account by going to the Uphold website or using the app.
2. Select an asset.
3. Receive rewards
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.
Kraken
CEX exchange
Availability
U.S., E.U., and 100+
Welcome bonus
No
Cryptos
16
Interest rate
Up to 20%
Kraken is an exchange based in the U.S. The platform offers staking on multiple cryptocurrencies, in multiple countries worldwide. Alongside its staking platform, Kraken offers a suite of products, such as spot trading and derivatives.
-ETH4-7%
-DOT 7-11%
-ATOM 7-11%
-XTZ 5-7%
Pros
- Multiple assets
- High yields
Cons
- Not available in the U.S.
1. Sign up to Kraken exchange using the link below
2. Login to the exchange.
3. Select Earn at the top of the website.
4. Select stake and choose an asset to stake.
Availability
100+
Welcome bonus
$50 bonus
Cryptos
39
Interest rate
Up to 5%
Margex is a cryptocurrency trading platform designed for anyone interested in investing in digital assets. The platform, which is based in Seychelles, has various distinguishing qualities. Notably, it has an amazing average execution time of only 8 milliseconds. It also has a large order book with a total value of more than $40,000,000, supplied from a network of over 12 liquidity providers, and an astonishing capacity of up to 100,000 tps.
– LINK: 3%
– BTC: 3%
– USDT: 5%
– USDC: 5%
– ETH: 4.7%
Pros
- High liquidity and fast execution.
- Diverse order types available.
- Advanced trading interface.
- Mobile support.
- Minimum deposit of $10.
Cons
- No native fiat support
- Limited global availability
1. Go to Margex website and select staking in the top, right hand corner.
2. Deposit one of the available coins for staking.
3. Go to your wallet and enable staking.
Bybit
CEX exchange
Availability
100+ countries
Welcome bonus
Up to $30,000
Cryptos
38
Interest rate
Up to 8.97%
Bybit is a global exchange that offers multiple products, including staking. It allows you to earn yield on a large basket of assets. You can also trade and do a wide array of activities on Bybit.
-ARB 8.97%-486.99% fixed/ flexible
-SOL 2.7%-274.14% fixed/ flexible
-USDC 0.86%-8% flexible
-BTC 0.45 % ~ 617.22 % fixed / flexible
Pros
- Fixed and flexible staking options
- Multiple assets available
Cons
- Custodial
- Not available in the U.S.
1. Go to the Bybit website using the link below
2. Go the Finance dropdown tab.
3. Select Earn.
4. Choose an asset to stake.
Binance
CEX exchange
Availability
U.S., E.U., and 100+ countires
Welcome bonus
$10 for U.S. users only
Cryptos
350+
Interest rate
Up to 52.9%
Binance is a popular global exchange that offers multiple options for staking. Customers can stake altcoins or the native token BNB. The options for staking are fixed and flexible on multiple assets.
-APE 52.9%
-USDC 2.93%
-ADA 4.6%
-MATIC 6.4%
Pros
- Over 350 assets
- Available worldwide
Cons
- Not available in the U.S.
1. Go to the Binance website using the link below
2. Select the Earn dropdown tab.
3. Choose Binance Earn, Simple Earn, or any other Earn product.
4. Choose and asset and start staking.
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Nexo
Availability
E.E.A. and 100+ countries
Welcome bonus
No
Cryptos
35
Nexo is a borrowing and lending platform for cryptocurrency. Users may lend their crypto on the Nexo platform to earn yield. The platform also offers other products like spot trading and a card to spend your crypto.
-BTC 7%
-ARB 12%
-DOT 15%
-ETH 8%
Pros
- Multiple assets
- Fixed and flexible plans
- Can borrow and re-stake on the same platform
Cons
- Not available in the U.S.
- You can only lend to earn yield
1. Sign up for the Nexo platform using the link below
2. Go to the Nexo website and login to your account.
3. Go to the products dropdown tab and select Earn Interest.
4. Select an asset.
ZenGo
Wallet
Availabilty
U.S., E.U., 100+ countries
Welcome bonus
$10 in BTC
Cryptos
120+
Interest rate
5.16%
ZenGo is a cryptocurrency wallet that offers multiple features, like staking, for the average users. The wallet features a recovery kit that you can use to secure your wallet as well.
-XTZ 5.16%
Pros
- Simple to use
- Globally available
Cons
- Only Tezos is available to stake
1. Sign in to the ZenGo wallet using the link below
2. Go to the Actions tab.
3. Select Earn.
4. Choose the asset.
Gate.io
CEX exchange
Availability
US, EU, and 100+ countries
Welcome bonus
Up to $100
Cryptos
100+
Interest rate
65.70%
Gate.io is a global exchange that offers earn features on multiple crypto assets. In addition to its Earn product, it has trading features as well. The exchange offers multiple products, like NFTs, in addition to its Earn product.
-USDC 2.63%
-ETH 0.88%
-USDT 0.88%
-UNI 35.92%
Pros
- Multiple assets to earn
- Available globally
Cons
- Many yields are lower than protocol native staking
1. Go the Gate.io official website using the link below
2. Go to the top of the page and hover over the Finance dropdown tab.
3. Select Lend & Earn.
4. Choose an asset.
CoinLoan
Lending and earning platform
Availability
100+ countires
Welcome bonus
No
Cryptos
21
Interest rate
9.2%
CoinLoan is a business with a specific focus towards crypto loans and staking. You can also buy crypto with multiple trading pairs on several assets. CoinLoan offers products for personal and business purposes.
1. Sign up for an account on CoinLoan.
2. Go to the products dropdown tab and select Earn.
3. Scroll down to Asset.
4. Choose an asset.
-ETH 7%
-USDC 9.2%
-USDT 9.2%
-Solana 7%
Pros
- High and consistent yields
- Multiple assets to earn
- Multiple terms
Cons
- Actual returns may be lower than portrayed
Is staking a good option during a bear market?
The cryptocurrency market is receiving less support during bear markets. However, buying and staking proof of stake (PoS) cryptocurrencies at a low market price can turn out to be successful long-term investments.
Over time, crypto staking can yield very valuable rewards. In exchange for their staked crypto, investors receive more coins, thus generating a passive income while staying out of the crisis in an economic environment with low interest rates and high inflation.
Staking cryptocurrency with higher staking rewards translates into more rewards, which allows their staking yields to increase significantly in a bear market. Historically, all bear markets have been followed by recovery periods.
By analyzing the past bear markets economically, this is the best time to start staking cryptocurrency. As long as you have the assets available, the economics have proven reliable. Investors should also keep a relaxed mindset and have patience for the market to recover.
One of the main concerns of cryptocurrency stakers is that low-value crypto will result in lower returns. However, investors should keep in mind that the coins received as rewards are not affected by the cryptocurrency’s price.
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The total number of coins is what determines your returns and not the current market price. This means that the fiat value of your coins may decrease as the price goes lower, but the value will also increase over time when the bear market passes.
How to easily stake your crypto?
The staking process is usually easy and accessible to almost all cryptocurrency holders. Most centralized cryptocurrency exchanges offer crypto staking or staking pools on their platforms. One of the most used centralized exchanges for staking crypto is Binance.
Using Binance, you can stake your crypto in only a few steps.
- Set up a Binance account and verify your identity
- Deposit funds into your account
- Go to Binance Staking and choose crypto to stake
You can find Binance Staking on the top menu under “Earn” > “Staking.”
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Note that each coin has a different APR (Annual Percentage Rate), a pre-defined duration for staking (e.g., 30, 60, 90 days), and a minimum amount for staking.
- Set the amount to stake and confirm the deposit
After the time is up, you will be able to unlock your funds.But this is just one example of how easy it is to stake cryptocurrency on a platform that you may be already using. There are other cryptocurrency platforms offering staking for the most popular coins. Here’s a list of the best crypto staking platforms for cryptocurrency holders.
Crypto staking platforms compared
How to choose the best crypto staking platforms?
When delving into the realm of cryptocurrency, selecting the best crypto-staking platforms can significantly enhance your earning potential through staking rewards. Here are a few helpful hints for choosing the best crypto staking platforms.
Fees
Firstly, consider whether these platforms are free of exorbitant fees, as this directly impacts your net earnings. The best crypto staking platforms, free from high costs, enable you to retain a larger portion of your staking rewards.
This is particularly important when dealing with platforms offering the highest APY crypto staking options. Hefty fees can quickly diminish high returns, so it’s crucial to find a balance between high APY and low costs.
Platform type
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Another vital aspect is the platform’s alignment with DeFi (decentralized finance) principles. Whether you are a power user or not will determine if you require a centralized or decentralized platform.
The best DeFi staking platform will offer a transparent, user-controlled approach to staking, often yielding higher returns and providing more flexibility. They may also provide liquid staking derivatives, which can be used for yield farming.
These decentralized staking platforms leverage blockchain technology to offer a more democratic and accessible staking environment compared to their centralized counterparts.
Crypto staking rewards
Crypto staking is definitely gaining traction. Bye bye, traditional banks!
— John Rush (@leansysahalol) November 14, 2023
When considering the best staking crypto, it’s essential to research the various cryptocurrencies available for staking. Not all cryptocurrencies offer staking options, and not every platform supports all staking-capable coins.
For instance, bitcoin, being the most well-known cryptocurrency, often prompts the question, “Can you stake bitcoin?” Currently, Bitcoin does not support traditional staking due to its proof of work (PoW) consensus mechanism, but there are other ways to earn rewards from holding Bitcoin.
Additionally, you must consider the rewards rate versus the inflation rate and price, as an imbalance can result in diminished rewards from staking.
Ease of use and support
Moreover, the platform should be user-friendly, providing clear guidance and support making the process of staking straightforward, especially for newcomers. Good customer support will help you avoid any crypto staking mistakes.
What’s the best crypto-staking platform for you?
While not all platforms on this list may be accessible in your region or offer the specific assets you’re interested in, it’s important to remember that the value of holding one crypto asset over another varies with each investor’s long-term strategy. However, if you already possess crypto, consider leveraging it to generate passive income, capitalizing on your current investments. Finally, always conduct due diligence and only invest what you can afford to lose.
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Frequently asked questions
How do crypto staking platforms generate staking rewards?
Crypto staking platforms generate rewards aggregating crypto from customers to stake with their own nodes. However, it is important to read the fine print of each platform. Some platforms generate rewards through loans, rather than through staking.
Are there any tax implications for staking rewards?
Depending on you country and or jurisdiction, there may be tax implications associated with staking rewards. In the United States, staking can be taxed under income. It is advisable to seek consultation from a tax professional.
How secure are my funds on crypto staking platforms?
The security of crypto funds for staking depends on a multitude of factors. In general, decentralized platforms typically do not have counterparty risk, unless they are staking pools or liquid staking derivatives platforms. Centralized platforms remove the technical barriers associated with staking, but introduce bankruptcy and regulatory risks.
Can I unstake my assets anytime, or is there a lock-up period?
Some cryptocurrency protocols, decentralized applications, and staking platforms may require a lock up period. This happens for many reasons. Some of these reasons include the security of the protocol or time to honor withdrawals requests.
What platform is best for staking crypto?
Each user should research the available crypto staking platforms in their region and the supported assets. Some platforms support more assets than others, while platforms with fewer assets might offer better staking rewards or additional benefits.
Can you get rich from staking crypto?
Most likely, you will not get rich from staking cryptocurrency. However, you can stake multiple assets on crypto-staking platforms to reap the staking rewards and generate a considerable passive income.
How can I stake crypto?
The easiest way to stake crypto is to sign up for an account on one of the cryptocurrency platforms offering staking rewards, such as Binance or Nexo, and deposit one of the supported assets for staking.
Is crypto staking a good idea?
Crypto staking is a good idea because it’s a great way to generate a passive income from the cryptocurrency assets you already own.
Which crypto can you stake?
All cryptocurrencies based on a proof-of-stake (PoS) blockchain can be staked. Crypto stakers help secure the network and validate blockchain transactions, and receive staking rewards in return for their staking.
Will I lose my coins staking?
No. Crypto staking is much safer than any other crypto activity. You are helping secure a blockchain network, and you are rewarded for your services. The only risks are related to the fact that your crypto is locked on the crypto platform for the duration of the staking, during which the value of the coins may drop.
Why should you not stake your crypto?
You should now stake your crypto if you intend on using it for trading or other activities. When staking cryptocurrency, you cannot use those funds until you unstake them.
Can you stake Shiba Inu?
Yes, you can stake Shiba Inu. One of the best crypto staking platforms for staking Shiba Inu is Binance, which offers a staking reward of up to 12% for a locked deposit of 120 days.
Where is the safest place to stake crypto?
When it comes to staking your crypto, safety is a top priority. Platforms like Binance, Kraken, and Nexo, are generally considered safe. However, it’s smart to do a bit more research, checking security features, user reviews, and whether the platform complies with regulations and standard security measures.
Is staking in Binance safe?
Staking on Binance is a common choice, given its popularity and reputation. To ensure safety, make sure to use security features like two-factor authentication and keep your account info secure.
Where can I stake my USDT?
If you’re eyeing USDT staking, platforms like Binance, Kraken, and Nexo, as mentioned in the article, offer such services. Check the specific details on each platform, such as interest rates and terms, before diving in.
Is Binance or Coinbase better for staking?
Choosing between Binance and Coinbase for staking depends on what you’re looking for. Generally, Binance supports more coins in its staking rewards program than Coinbase, and it gives better rewards for the coins they both support. However, it is important for you to compare other factors such as interest rates, fees, and overall user experience to find the one that suits your staking goals better.
How much crypto do you need for staking?
The amount of crypto you need for staking varies across platforms and cryptocurrencies. Each platform sets different minimum staking requirements, so check out their staking pages for the specific details.
Top crypto platforms in the US | March 2024
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