9 BEST Crypto Staking Platforms (2024)

Best Crypto Staking Platforms

Crypto staking is peculiar to proof-of-stake (PoS) networks. It works like a regular interest-bearing account. A cryptocurrency is staked when users lock up their digital assets for a certain period to secure the network. In return, they earn staking rewards from the host network. When you stake your funds, the network can process more transactions and strengthen itself from attacks.

Crypto staking has become a viable means for users to generate passive income, and it has gotten popular over the years. This guide will explore the best crypto stacking platform you can use today and the best staking coins available.

Most crypto-native exchanges are now offering their users the option to earn from staking. Compared to a dedicated staking platform, you do not need to KYC and easily trade your coins. However, here are the best crypto staking platforms.
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Top Pick
ByBit

Bybit's advanced trading system is ever-reliable with No Overloads and a 99.99% availability track record since inception. It offers an advanced order system where traders can set TP/SL for entry orders. It boasts a daily turnover of $700 million and accepts cryptocurrency deposits.

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Top Pick
Zengo

Zengo is the first Web3 wallet with no seed phrase vulnerability, secured by encrypted biometrics. While this technology has been used by billion-dollar institutions for years, Zengo is the 1st wallet to offer these advanced security features as a crypto wallet.

Visit Zengo

Best Crypto Staking Platforms & Wallets: Top Picks!


#1 Best Overall

Zengo

Zengo

✔️ Crypto Supported: 120+ crypto including XTZ, ETH, BTC, etc.

✔️ Staking Type: Flexible, Locked, DeFi

✔️ KYC: Not Required

✔️ Staking Fees: Free

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#2 Top Pick

Uphold

Uphold

✔️ Crypto Supported: 250+ crypto including BTC, ETH, XRP, HBAR, etc

✔️ Staking Type: Flexible

✔️ KYC: Required

✔️ Staking Fees: 1.8%

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MyCointainer

MyCointainer

✔️ Crypto Supported: 100+ assets including USDT, DAI, EGLD, etc.

✔️ Staking Type: Flexible & Locked

✔️ KYC: Required

✔️ Staking Fees: 9.3%

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Binance

Binance

✔️ Crypto Supported: 1000+ crypto including BTC, ETH, XRP, etc.

✔️ Staking Type:
Flexible, Locked, and Defi

✔️ KYC: Required

✔️ Staking Fees: Nil

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1) Zengo Crypto Wallet

Most Secure Web3 Wallet for Crypto Staking.

Zengo is the first Web3 wallet with no seed phrase vulnerability, secured by encrypted biometrics. While this technology has been used by billion-dollar institutions for years, Zengo is the 1st wallet to offer these advanced security features as a crypto wallet.

Zengo’s 3-Factor authentication process ensures that 1) no one but you can control your crypto, and 2) your wallet is backed up, so even if you lose your phone, you can recover your crypto through a simple 2-step verification process. Zengo offers 24/7 in-app customer service with real people, and supports 120+ assets, including Bitcoin, Ethereum, and Tezos.

Zengo Crypto Wallet, offers a diverse range of staking types including Flexible, Locked, and Defi, all without staking fees or lockup periods. Users can stake Tezos directly through the app, as well as Ethereum and any ETH token via WalletConnect. With a variable APY and daily interest distribution after staking lock-in, users can potentially earn higher returns by staking native tokens, depending on WalletConnect. Prioritizing security, Zengo boasts a SAFU valued at $1 billion as of January 2022.

#1 Top Pick
Zengo
5.0

Types of staking: Flexible, Locked, and Defi

Staking fees: None

Supported coins: Tezos, directly through the app, and Ethereum + any ETH token using WalletConnect

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Features:

  • Most secure wallet in Web3 with no seed phrase vulnerability
  • No KYC required
  • 24/7 in-app live customer support
  • 120+ crypto assetss supported

Pros

  • Facilitates buying and selling directly within the app.
  • Features robust 3FA security measures.
  • Boasts an intuitive user interface.
  • Designed with beginners in mind, ensuring top-tier security.
  • Includes informative educational resources.
  • Enables users to earn passively via staking and interest opportunities.

Cons

  • Supports a restricted variety of cryptocurrencies.
  • It isn’t entirely non-custodial in nature.
  • Certain features are geographically restricted.
  • Exclusively accessible on mobile devices, lacking a desktop counterpart.

Visit Zengo >>

Free Wallet


2) Uphold

The most transparent and easy-to-use digital asset platform

With a user base exceeding 10 million spanning across 150 countries, Uphold provides a user-friendly platform for buying, trading, and holding a diverse range of assets, from crypto (over 250) to traditional currencies and precious metals. Uphold’s has a 100% reserve model that safeguards user funds and an openness to transparency, where real-time asset and liability data is publicly available and updated every 30 seconds.

#2
Uphold
4.9

Types of staking: Flexible

Staking fees: 1.8%

Supported coins: 250+ crypto including BTC, ETH, XRP, HBAR, XLM etc

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Features:

  • Connected to 26 underlying exchanges to find you the best token prices
  • Stake dozens of cryptocurrencies with high APYs
  • Free debit card offering cashback in XRP
  • Set up automatic, recurring transactions for dollar-cost averaging
  • Create up to 50 simultaneous limit orders of any size without needing to fund your account upfront
  • Send funds to any other Uphold account using just an email address

Pros

  • Easy account setup, great for beginners
  • Trade between multiple asset classes (crypto, fiat currencies, metals, stocks)
  • New, low-liquidity altcoins added regularly
  • Transparent balance sheet, never lends out your money
  • Intuitive mobile and web app

Cons

  • Basic charts and tools.

Visit Uphold >>

Free Wallet


3) MyCointainer

Most number of Crypto Coins supported

MyCointainer allows you to store all your coins in one wallet and earn passive income with minimum effort. It offers multiple ways of earning crypto including deposits, masternodes, airdrops, cashback etc. MyCointainer has some of the highest ARYs on the market as well as very competitive reward fees (you won’t get charged unless you earn yields).

Established in 2018, MyCointainer has quickly become a trusted staking platform offering both Flexible and Locked staking options. With an extensive portfolio, it supports over 100 cryptocurrencies, including prominent ones like SOL, ADA, USDT, and DOT. Users can benefit from a variable APY, peaking at an impressive 101%. Ensuring consistent returns, interest is distributed daily. Prioritizing user security, MyCointainer operates under legal license no. FVT000255. However, staking native tokens doesn’t result in higher earnings on this platform.

#3
MyCointainer
4.8

Types of staking: Flexible and Locked

Staking fees: Fees depend on the asset (up to 9.13%). Some coins have no fee.

Supported coins: 100+ (including SOL, ADA, USDT, and DOT)

Visit MyCointainer

Features:

  • Beginner-friendly no-frills staking platform
  • 100+ crypto assets available
  • Some of the best APYs on the market
  • A licensed platform with the opportunity to provide FIAT payment deposits
  • Passive income by depositing or staking crypto
  • Staking fees – Fees depend on the asset (up to 9.13%). Some coins have no fee.
  • Lockup Period – No lock-in period; flexible access

Pros

  • Supports a wide range of cryptocurrencies for staking, giving users multiple choices.
  • Designed for both beginners and experienced users, the platform is intuitive and easy to navigate.
  • Once a user deposits their coins, staking starts automatically, eliminating the need for manual intervention.
  • The platform has implemented security measures to protect users’ assets.

Cons

  • Users might not have the same level of control over their staked coins as they would if they were staking on their own.
  • Unlike some platforms, MyCointainer focuses primarily on staking and doesn’t offer other features like trading or swapping.

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4) Binance

Overall Best for Crypto Staking

Binance stands as our overall best platform for crypto staking. Launched in 2017, the Binance platform is currently the world’s leading digital asset exchange by trading volume. The crypto exchange currently offers trades well above $65 billion daily and is the premier digital asset platform for all crypto users. Its crypto staking platform is called Binance Earn.

Founded in 2017, Binance has rapidly ascended the ranks to become a leading name in the crypto space. Offering a staking service with zero fees, users can commit their assets for a maximum lockup period of 90 days. Binance supports a vast array of Proof-of-Stake coins, ensuring a wide range of options for users. The platform provides a variable APY, ensuring competitive returns on investments. Additionally, users can expect daily interest distributions, enhancing liquidity. However, it’s worth noting that staking native tokens doesn’t lead to higher earnings on Binance.

#4
Binance
4.7

Types of staking: Flexible, Locked, and Defi

Staking fees: Nil

Supported coins: Most PoS coins

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Features:

  • Hundreds of projects to earn from
  • Zero fees
  • High-interest rates
  • Multiple deposit options
  • Types of staking: Flexible, Locked, and Defi

Pros

  • Get started without any complications.
  • Intuitive navigation ensures a smooth user experience.
  • Customer assistance is available 24/7
  • Works seamlessly on both Mac and Windows.
  • Offers a broad range of payment methods.

Cons

  • The detailed interface can be a bit much for newcomers, requiring an adjustment period.
  • Determining profitability can be challenging due to user-specific settings.

Visit Binance >>


5) Nexo

Best Crypto Staking Platform with Copy Trading Tools

Nexo staking is free to members of the Nexo membership clubs. Select members of the Nexo membership club can earn interest on their digital funds. The earnings vary as it depends on the membership plan. Nexo supports only three digital assets for crypto staking. They are Ethereum (ETH), Cardano (ADA), and Tron (TRX).

Founded in 2018, Nexo offers locked staking with variable APY. It prioritizes security and distributes interest through a monthly staking yield. There are no higher earnings for staking native tokens.

Nexo

Features:

  • High yield ratio
  • Trusted staking platform
  • Highly secure platform
  • It offers social trading capabilities
  • Staking fees – There are no annual or monthly fees and no application fees.
  • Supported coins – Bitcoin, Ethereum, Ripple, and 14 other digital assets.

Pros

  • Nexo prioritizes user security and adheres to stringent regulatory standards.
  • Users can enjoy free fiat withdrawals and up to 10 complimentary crypto withdrawals every month.
  • Nexo offers insurance coverage against potential theft of crypto assets stored within their platform.

Cons

  • Compared to other platforms, Nexo tends to have higher fee structures.
  • Some of the leading cryptocurrencies are not listed or available for trading on Nexo.

Visit Nexo >>


6) Kraken

Best for Crypto Assets and Fiat Staking

US-based Kraken crypto exchange is another hotspot for crypto staking coins. Built to appeal to both new and experienced users, Kraken offers a sizable amount of digital assets for trading.

Its crypto assets staking library is also impressive. Users can earn income from over 12 digital assets, including prominent proof-of-work (PoW) network Bitcoin. Kraken offers staking rewards for fiat currency like the Euro and USD.

Founded in 2011, Kraken offers variable staking fees and supports 12 PoS coins with fluctuating APY. Unlike some platforms, staking native tokens doesn’t yield higher earnings.

Kraken

Features:

  • Top choice for crypto-assets and fiat staking
  • Offers off-chain staking
  • Streamlined staking experience
  • Diverse Staking Options: Choose between Flexible or Locked staking based on your needs.
  • Frequent Interest Payouts: Receive interest distributions bi-weekly, enhancing your earnings potential.

Pros

  • Kraken offers some of the industry’s lowest trading fees.
  • Users have access to a comprehensive suite of tools on Kraken’s cryptocurrency exchange platform.
  • Kraken provides the flexibility of options trading for its users.
  • Depositing funds into Kraken won’t cost you a dime.
  • Kraken supports instant trading, allowing for quick transactions.

Cons

  • Kraken applies fees to all types of transactions, regardless of their nature.
  • The platform could benefit from a more extensive collection of educational materials for its users.

Visit Kraken >>


7) Crypto.com

Best Crypto Staking Platform for Cashbacks

Based in Singapore, Crypto.com is one of the top crypto platforms that run a crypto staking pool. Users can easily tap into a slew of popular projects, including Bitcoin, Ethereum, Cardano, Ontology, its native token Cronos, and over 40 others

Founded in 2016, Crypto.com offers 2.99% staking fees with a maximum lockup period of 90 days. It supports 40+ coins, provides a 14.5% APY, distributes interest weekly, and rewards higher earnings for staking native tokens.

Crypto.com

Features:

  • A vast array of assets on offer
  • Cashback reward for spending crypto
  • Access crypto at the true cost
  • Deep liquidity
  • Crypto.com Insurance Fund worth $750 million
  • Types of staking – Flexible and Locked

Pros

  • User-friendly interface.
  • The platform prioritizes user safety and security.
  • Users can utilize various payment methods, including Visa and MasterCard.
  • The platform simplifies the process of converting between different cryptocurrencies.
  • Beyond just a crypto wallet, users can also access gift cards.

Cons

  • Some users have reported challenges with the platform’s customer service responsiveness.
  • The discount framework can be intricate and confusing for some users.

Visit Crypto.com >>


8) Gemini

Best Staking Platform that offers Zero Trading Fees

The Gemini exchange is another hotbed for crypto staking activities. The cryptocurrency exchange offers state-of-the-art crypto staking work and services.

This platform does not state the lockup period or its staking fees. However, crypto staking rewards are maxed out at 8.05% APY. Gemini also offers staking capabilities for stablecoins.

Gemini is remarkable for its zero transfer and withdrawal fees and comes with no minimum balance staked. There are also no hidden fees when you stake crypto on Gemini.

Founded in 2014, Gemini offers staking services with no fees for over 40 PoS coins. With variable APY, interest is distributed monthly. Staking native tokens doesn’t yield higher earnings.

Gemini

Features:

  • Zero fee structure
  • Cold storage capability
  • It is regulated by the New York State Department of Financial Services (NYSDFS)
  • Easy access to locked tokens

Pros

  • Diverse Cryptocurrency Selection
  • All digital assets on Gemini are insured, ensuring user confidence.
  • Versatile User Experience
  • Users benefit from their cryptocurrency balances accruing interest over time.

Cons

  • Users might find Gemini’s trading fees to be on the higher side compared to some competitors.

Visit Gemini >>


9) Lido

Best Staking Wallet for Multiple Yield Generation.

Lido is a crypto-staking-focused financial services provider. Launched initially to cater to Ethereum staking, Lido Finance has become a hotbed for several layer-1 smart contract staking and one of the popular crypto platforms in the sector. The staking provider offers services for only four PoS protocols. They are ETH, Terra, Solana, and the Kusama network.

Lido Finance doesn’t have a minimum balance. The platform allows investors to stake any number of tokens. Here, investors can easily use their earned tokens to provide liquidity or as collateral to borrow from a lending protocol.

Established in 2020, Lido provides liquidity staking with a 10% fee for four PoS coins. It offers variable APY, daily interest distributions, and higher earnings for staking native tokens

Lido

Features:

  • This is one of the Best Crypto Staking Platforms and multiple yield generation platform
  • This best wallet for staking has reasonable APYs
  • Zero minimum balances
  • Access to 29 dApp platforms
  • Security – $200 million insurance for slashed Ether

Pros

  • Liquid Staking: Trade or use stETH in DeFi.
  • Validator Management: No personal validator setup needed.
  • Decentralized: Community-driven decision-making.
  • Enhanced Security: Multiple staking providers used.

Cons

  • Slashing Risks: Misbehaving validators affect stETH.
  • Fees: Charges for staking services.
  • Centralization Concerns: Limited node operators used.

Link: https://lido.fi/

What is Crypto Staking?

Crypto staking generally involves pledging a user’s funds towards the security of a blockchain network. In return, you are rewarded with newly minted coins of the network’s tokens.

PoS or Proof-of-Stake networks differ significantly from PoW consensus protocols. For one, they offer higher transaction speed, low transaction cost, and less energy use. Crypto staking enables token owners to lock their funds to secure the network from malicious attacks. This significantly boosts the efficiency of the stipulated network.

Crypto staking party is becoming an ideal solution. Many of its current users are investors who are disillusioned by the present rates earned from their savings accounts. Crypto staking often comes with higher yields and guaranteed returns than traditional savings accounts.

How Does Crypto Staking Really Work?

Crypto staking occurs when a user pledges their digital assets to secure a blockchain network. The lockup period is actually dependent on the length of time chosen by a user.

To begin cryptocurrency staking, you would need one of the eligible tokens. Some of the most popular PoS coins you can stake include Ethereum, Solana, and Cardano. If you don’t have any of the PoS assets, you can purchase them from popular cryptocurrency exchanges. You can learn the key differences between the PoW and PoS mechanisms here.

Crypto staking is evolving by the day. Today, there are several ways of staking cryptocurrency.

FAQs

Coinbase offers industry-standard security and requires all users to verify their accounts. However, with staking, Coinbase will cover your capital loss with no extra cost if the validator network does not carry out its duties.

Crypto mining is an expensive process as it usually requires sophisticated mining rigs, which cost a fortune. Besides the mining hardware, crypto mining consumes a lot of energy. The electricity costs alone could reduce your overall profits. Meanwhile, crypto staking is cheap to run. There’s no need to invest in energy or buy any form of equipment. It allows you to earn passive income by locking up your tokens.

Following are the best staking wallets for Crypto Staking:

There are different kinds of staking on offer.

  • Flexible
  • This comes with a shorter timeframe than the other types of staking services. The maximum lockup period is seven days.

  • Fixed (Locked)
  • The fixed or locked staking option comes with some sort of stringent rules. The minimum staking period is usually 30 days, with the maximum period pegged at 90 days. The user won’t have access to their funds until the lockup duration is complete during this period.

  • DeFi
  • DeFi staking is a form of staking targeted towards DeFi protocols. This allows crypto users to invest in DeFi-facing services and earn rewards easily. DeFi staking comes with higher yields and risks, given the uncertain nature of these protocols.

  • On-chain and Off-chain Staking
  • On-chain staking is the regular crypto staking that allows crypto investors to earn passive income from PoS protocols. On the other hand, Off-chain staking is usually used for non-PoS protocols like BTC. They are usually staking rewards earned from performing transactions outside of the network.

  • Self Staking and Liquid Staking
  • Self-staking is when a user runs a validator node for a PoS protocol. Most PoS protocols enable individuals with the requisite equipment to run nodes to secure the network. However, you need to lock up or stake a stipulated number of the network’s tokens.

    Liquidity staking is a new form and frees staked funds from lockup periods. This allows users to lend to a protocol to generate additional yields on their tokens.

  • Soft Staking
  • Soft staking enables users to receive rewards without needing to lock up their funds.

Here are a few factors you should consider before settling for a staking service provider.

  • Amount of Stakeable coins: A large library of stackable PoS coins creates avenues to generate passive income. This way, you can easily earn more while spreading your risk level across more assets.
  • APY on Offer: TheAnnual percentage yield, otherwise known as APY, is a key factor to consider when making a choice. Some crypto staking platforms have a stipulated APY rate for users. The higher the APY a platform offers, the more income you can generate.
  • Fees: Fees are also crucial in selecting a crypto staking platform. Research the fees the platform charges for staking to weigh your options. Several staking platforms offer zero fees for staking.
  • Security: The security of your funds is non-negotiable, and you should pay close attention to this. The first port of call-in security matters is if any global body regulates the platform. Added to this, you should also research the security measures on offer before signing up.

DeFi is short for decentralized finance. It talks about the decentralization of financial systems. It allows parties to lend, borrow or send funds without the involvement of intermediaries.

One popular DeFi use case is Yield Farming. Yield farming is similar to crypto staking. However, the current rating by crypto staking platforms has led to a growing difference.

Yield farming involves lending your cryptocurrencies to DeFi platforms that use them to facilitate their operations in exchange for interest. Meanwhile, crypto staking involves locking up your crypto funds to strengthen a blockchain’s ability to process transactions and its resistance to attacks.

DeFi:

  • Comes with higher yields and higher risks
  • Most projects staked on are usually low-cap
  • More complex to organize

Crypto staking:

  • Risk is more contained while yields are reasonable
  • Usually attached with vested projects
  • Easier to set up

Crypto staking is now a billion-dollar industry as more crypto enthusiasts explore this space.

Here are some benefits/advantages of Crypto stacking platforms:

Put your Crypto to Work: Instead of keeping your crypto tokens idle in an exchange, you can easily earn passive income using staking. Staking allows you to earn more of a project’s token with the potential to grow more valuable with time.

Zero Technical Expertise: While a PoW protocol like Bitcoin requires technical expertise before mining, crypto staking is more hands-off. A crypto exchange staking with a team of experts handles all the technicalities while you keep the yields after paying commissions.

Zero Equipment: Another major benefit is that you don’t have to worry about setting up any equipment. PoW protocols require mining rigs which take up space and energy. However, crypto staking eliminates all these requirements as you can easily buy a PoS coin and stake them from the convenience of your smartphone.

Securing the Network: PoS protocols do not have the same security infrastructure as a traditional PoW protocol. Staking goes a long way in beefing up the protective mechanisms of a PoS protocol, making them fool-proof from malicious attacks.

Climate Friendly: Crypto staking is more environmentally friendly since they consume less energy in verifying and adding transactions to the network.

These are the likely risks of crypto staking:

Value Depreciation: Staked coins may drop in value while locked up, making it highly difficult for users to sell them in a tough bear market.

Penalty for Early Withdrawal: Some crypto staking platforms may penalize users for redeeming their crypto tokens before the stipulated time. If you intend to use your coins often, the best option is a flexible plan.

Hacks: A crypto staking platform may suffer a cyberattack and see users’ funds drained. We recommend using a platform that hasn’t been exploited in the past and an insurance policy to cover when it happens.

Lockup Periods: Crypto staking requires users to lock up their tokens for a certain period. During this timeframe, the user does not have control of their tokens. Using liquidity staking can easily offset this challenge by reinvesting your yields to generate more profits.

Here are a few useful tips you can use to maximize your staked coins:

  • The first thing to note is that crypto staking is largely an investment of numbers. The more tokens you stake, the higher your potential for rewards.
  • You should also be wary of the APYs, otherwise known as the annual percentage yield. The APYs change regularly.
  • A few staking platforms alternate what they pay stakers. This may see the APY rise or drop depending on the token staked.
  • A low APY is largely due to a growing number of stakers.
  • On the other hand, a high APY could denote that only a few people are staking that PoS asset.

Passive income is earnings from investments that you’re not directly involved in. Similar to stocks and other high-yield commodities, cryptocurrencies can be used to generate passive income. One of the fastest ways of earning passive income with your crypto funds is by staking them. This section will explore the best cryptocurrencies for staking to generate passive revenue.

1. Ethereum

Ethereum

Ethereum is one of the best staking coins for passive income. This is due to efforts to reduce the network’s high gas fee and energy consumption using the PoS model. Ethereum still controls a large chunk of the DeFi space, with over 58% of protocols running on its network. Staking rewards currently start from 5% to 10%.

2. Solana

Solana

Solana is one of the fastest layer-1 protocols with a reputed 50,000 throughput. The PoS protocol has seen significant growth in the past year and over $6.78 billion in total value locked (TVL). According to Staking Rewards, the staking reward for SOL currently stands at 5.92%. With a flourishing DeFi ecosystem, Solana has been tapped as a top contender for the decentralized economy.

3. Cardano

Cardano

Cardano is another top PoS protocol and a popular Ethere

um competitor. The peer-reviewed blockchain is currently one of the top coins to stake for passive income. ADA staking rewards are pegged at 5.29% to 10%.

4. Avalanche

Avalanche

The Avalanche blockchain is another DeFi hotbed and one of the best coins to stake for additional income. Avalanche records a staking reward of 9.17% to 20% in some staking pools. This is exciting given that the Avalanche blockchain is currently fledgling out its ecosystem with innovative tools for the decentralized economy.

5. Polkadot

Polkadot

Polkadot (DOT) has a strong history with the Ethereum network through its founder Dr. Gavin Wood. The crypto network is currently building a heterogeneous network for secure interoperability and the seamless transfer of all asset types. It offers a sizable rate of 13.92% to 20% on some staking platforms. However, your funds would be inaccessible for 28 days.

6. Binance Coin

Binance Coin

Binance Coin is the discount token for the Binance exchange. The BEP-20 token has been incorporated into all the exchange’s DeFi efforts, fueling Binance’s expansive ecosystem. Staking rewards start at 5.32% to 8.35%.

Binance is our number one pick for the best crypto staking platform. If you are looking to stake SAND on Binance, these steps should help you get started.

Step 1) Open https://www.binance.com/ on your browser or smartphone. Tap on the ‘Register Now’ button to access the signup page.

How to Stake SAND Tokens

Step 2) Tap the ‘Create Personal Account’ icon to access an individual’s signup page and fill in the required details.

Create Personal Account

Step 3) Verify ID

Tap on the ‘Verify’ button to upload your driver’s license and complete the verification process.

Verify ID

Step 4) Deposit

Tap on the ‘Wallet’ icon and select ‘Deposit.’ Choose between the ‘Fiat currencies/Crypto’ deposit option and fund your account with your preferred payment solution.

Deposit

Step 5) Buy SAND

Type ‘SAND’ into the search bar and click on the ‘Spot’ option. Insert how much SAND you want to invest and click on ‘Buy SAND’ to complete the process.

Buy SAND

Step 6) Stake SAND

Stake SAND

Tap on the ‘Wallet’ icon and select the ‘Earn’ option. Tap on ‘High-yield’ and select ‘Defi Staking.’ Then select ‘Staking’ and type ‘SAND’ into the search bar. Select a lockup period and click on ‘Complete’ to conclude the staking process.

Yes, many cold storage wallets allow users to stake their coins and store them. Popular choices are the Ledger and Trezor wallets.

Staking rewards are cryptocurrencies paid to users who lock up their digital assets to secure the network. These rewards are usually dependent on the number of coins staked at a particular time. To incentivize stakers, PoS networks may offer a high staking reward and reduce it if there are several stakers.

Staking rewards are subject to taxation at the point of sale, not when received. The US IRS defines staking as ‘income’ which means you would be charged the requisite tax based on your income bracket. You can visit the official Tax Authority website of your country’s tax agency for proper guidance.

Best Crypto Staking and Rewards Platforms


#1 Best Overall

Zengo

Zengo

✔️ Crypto Supported: 120+ crypto including XTZ, ETH, BTC, etc.

✔️ Staking Type: Flexible, Locked, DeFi

✔️ KYC: Not Required

✔️ Staking Fees: Free

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#2 Top Pick

Uphold

Uphold

✔️ Crypto Supported: 250+ crypto including BTC, ETH, XRP, HBAR, etc

✔️ Staking Type: Flexible

✔️ KYC: Required

✔️ Staking Fees: 1.8%

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MyCointainer

MyCointainer

✔️ Crypto Supported: 100+ assets including USDT, DAI, EGLD, etc.

✔️ Staking Type: Flexible & Locked

✔️ KYC: Required

✔️ Staking Fees: 9.3%

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Binance

Binance

✔️ Crypto Supported: 1000+ crypto including BTC, ETH, XRP, etc.

✔️ Staking Type:
Flexible, Locked, and Defi

✔️ KYC: Required

✔️ Staking Fees: Nil

Get Now