9 BEST Crypto Staking Platforms (2024)

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. Read more…

Best Crypto Staking Platforms & Wallets: Top Picks!

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.

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

Visit Zengo >>

Free Wallet

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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.

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

Visit Uphold >>

Free Wallet

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3) 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.

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.

Visit Nexo >>

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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.

Features:

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

Visit Binance >>

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5) PrimeXBT

Most number of Crypto Coins supported

PrimeXBT allows you to store all your coins in one wallet and earn passive income with minimum effort. It offers margin trading for cryptocurrencies. This service it is one of the best anonymous Bitcoin wallets that allows you to control private keys.

Established in 2018, PrimeXBT has quickly become a trusted staking platform offering both Flexible and Locked staking options. With an extensive portfolio, it supports over 40+ cryptocurrencies, including prominent ones like BTC, SOL, ADA, USDT, and DOT. Ensuring consistent returns, interest is distributed daily. Prioritizing user security, PrimeXBT operates under legal license no. SD162.

Features:

• Beginner-friendly no-frills staking platform
• 100+ global markets assets available
• Improve your profitability by using leverage trading
• It has swift order execution with low trading fees.
• Passive income by depositing or staking crypto
• Allows margin trading of cryptocurrencies and traditional assets.

Visit PrimeXBT >>

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6) 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.

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

Visit Crypto.com >>

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7) 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

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

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.

Different Types of 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.

Advantages of Crypto Staking.

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.

Risks of Crypto Staking

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.

Factors To Consider When Choosing A Crypto Staking Platform

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.

Tips to Getting Most Out of Staking.

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.

FAQs

Best Crypto Staking and Rewards Platforms