Are you wondering what are the best crypto staking platforms? We’ve done the research on 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.

What is crypto staking?

Crypto staking is the act of locking up cryptocurrencies on a blockchain network to help verify and confirm transactions. 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.  

Staking is also a great way for crypto investors to generate passive income. This is especially true if you have high-interest rates 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. 

 

Best Christmas Crypto Promotions in 2022

Dec 26, 2022 1 week ago

 

Top 10 Telegram Channels for Crypto Signals in 2022

Dec 28, 2022 1 week ago

 

9 Best Crypto Exchanges for Beginners

Dec 29, 2022 6 days ago

 

Copy Trading: A Definitive Guide for Beginners (2022)

Dec 02, 2022 1 month ago

 

What Is the Crypto Fear and Greed Index?

Nov 22, 2022 1 month ago

 

Top 7 Crypto Debit Cards in Europe

Dec 27, 2022 1 week ago

 

How To Make Money With Bitcoin in 2022: 9 Proven Methods

Jul 12, 2022 6 months ago

 

Web3 Jobs: How to Get a Job in Crypto Sector

Nov 11, 2022 2 months ago

 

Who Owns the Most Bitcoin in 2022?

Oct 16, 2022 3 months ago

Is staking a good option during a bear market?

The cryptocurrency market is receiving less support during bear markets. However, buying and staking cryptocurrency 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 price of the cryptocurrency. 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?

Staking cryptocurrency is easy and accessible to almost all cryptocurrency holders. Most centralized cryptocurrency exchanges offer crypto staking 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.

1. Set up a Binance account and verify your identity
2. Deposit funds into your account
3. Go to Binance Staking and choose crypto to stake

You can find Binance Staking on the top menu under “Earn” > “Staking.”

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. 

4. 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. 

9 Best Crypto Staking Platforms

1. Nexo

Nexo is an online cryptocurrency platform that allows you to buy and borrow cryptocurrency while also offering benefits such as earning interest or swaps. The Nexo platform became popular for its high-interest rates for most in-demand cryptos. It offers compound interest, which is paid on a daily basis. 

Nexo was founded in 2018, in London. It’s a licensed lending service, and all Nexo accounts are guaranteed by a $775 million custodian insurance policy. Users’ assets are held in multi-signature wallets and cold storage. Nexo offers over 40 currencies, and it is available across 200 jurisdictions worldwide. 

Some cryptos offer staking rewards of up to 36%, and crypto investors can earn interest on stablecoins and even fiat currency. To get the maximum staking rewards, users should also hold in their accounts NEXO tokens (10% of their portfolio) and choose to receive the rewards in NEXO tokens.  

Fiat currencies (USD, EUR, and GBP) and stablecoins (USDT, USDC, and DAI) have up to 12% interest rate, while other popular cryptos such as bitcoin (BTC) and ether (ETH) have up to 7% and, respectively, 8%. To start earning interest on any of the supported assets, users must verify their identity and then deposit any of the supported assets. As long as you have a positive balance, your account will accrue a daily interest. 

2. Midas.Investments

Launched in 2018, Midas.Investments is a “CeDeFi” platform that focuses on helping users generate passive income. It allows them to earn daily yield on more than 20 digital assets. It currently has over $200 million in assets under management.

There are no limits or tiers and no lockup periods either. Users can earn up to 17.2% APY on USDC/USDT, 9% on BTC, and 10.6% on ETH. They will also appreciate the CeDeFi strategies investment tool.

Other features offered by Midas.Investments include fixed yield and dynamic yield strategies and a yield automated portfolio. There also exists the MIDAS token.

3. Binance

Binance is one of the best crypto staking platforms since most cryptocurrency investors and users already have a Binance account. Moreover, Binance is regarded as a top cryptocurrency exchange and as the main bridge between fiat money and crypto, as users can use Binance to buy crypto with their credit or debit card. 

But Binance is not a simple exchange, as it offers a wide range of services for cryptocurrency investors, such as spot and margin trading, farming, and crypto staking. It continues to add new features all the time, and Binance Staking is one of the more interesting ones, which made us put Binance on the list of the best crypto staking platforms.

To start earning interest on your crypto, simply go to Binance Staking and select your crypto from the list of supported coins for staking. You can select the time for staking your assets and choose between a fixed or a flexible deposit and the amount you want to stake. Binance stores the deposits in a cold storage wallet. 

Binance was founded in 2017 and is registered in the Cayman Islands. Its founder, Changpeng Zhao, is a software developer who had previously created high-frequency trading software.

4. eToro

Having launched in 2007, eToro is known for its social trading features and its intuitive interface. The company launched Bitcoin CFDs in 2014, with more features coming in over the years. Of course, one of those features is staking, and the platform offers several benefits in this regard.

The staking process on eToro is quite simple, and users are paid out their rewards every month. The exact rewards percentages depend on what tier members are on, ranging from 75% to 90%. Currently, eToro supports the staking of ETH, ADA, and TRX.

eToro is a regulated and trusted company, and that provides some added bonuses to users. The platform may be mostly known for its social trading features, but the staking option is another good choice for someone looking to put their crypto to work.

5. ZenGo

ZenGo is a simple but popular crypto wallet that also provides a number of other crypto services. One of the most popular features is its crypto earnings program, which is effectively a savings account for crypto. The platform offers two ways to earn on crypto: lending or staking.

The platform is also noted for its ease of use and quick registration process. The KYC process is very simple — only requiring an email and a quick face scan to get started.

Currently, ZenGo offers staking features for the Tezos (XTZ) asset, but plans to add more assets in the future. The initial waiting period is 36 days, with rewards cycles that are a few days long, resulting in periodic gains for the staker.

6. Crypto.com

Crypto.com is a complete cryptocurrency exchange, that offers crypto swaps, margin and derivatives trading, NFTs, a crypto wallet, and earning options, such as staking. The company Crypto.com was founded in Hong Kong in 2016, and it currently offers more than 250 cryptos, in over 90 countries. Considering the features suitable for both beginners and advanced cryptocurrency users, Crypto.com is one of the best crypto staking platforms available today. 

The main portal is the Crypto.com app, which is available for both Android and iOS, where you’ll find all the necessary tools to trade and stake cryptocurrencies. 

The exchange offers simple charts for each asset and a brief overview of each asset. Users of Crypto.com can also order a credit card, which makes it easier to spend their crypto holdings from their accounts. 

Sponsored

Sponsored

7. BlockFi

BlockFi is a cryptocurrency platform that was established in 2017 by Zac and Flori Marquez. The company is located in the United States and services in all 48 U.S. states, as well as in most other countries. The platform provides professional financial services to lend and borrow crypto assets. It also offers a cryptocurrency credit card. Its most popular products include the savings account (which allows users to earn interest) and crypto-backed loans.

BlockFi’s crypto savings feature is what makes BlockFi one of the best crypto staking platforms. It supports over 40 cryptocurrencies. These can be transferred into a savings account where they can start earning interest. 

BlockFi’s crypto interest rate follows a decreasing rate schedule. This means that deposits over a certain threshold will receive less interest on certain assets, such as bitcoin and ethereum. Stablecoins offer the best rates, offering up to 8% APY (annual percentage yield).

8. Bybit

Bybit is a cryptocurrency derivatives platform that offers a variety of sophisticated trading tools. It offers top-notch security with no downtime commitment. However, it is not available in the United States. Bybit was founded in 2018. Its headquarters is in Singapore. 

Bybit claims it can process 100,000 TPS (transactions per second) which is considerably faster than other exchanges. It takes every precaution to prevent any server downtime. This is a problem that many exchanges have to deal with, especially when many users want to trade simultaneously.

The platform also offers various charting tools, which many traders find very useful. As one of the best crypto staking platforms, Bybit offers users the option to stake their crypto with minimal risk. It offers staking rewards of up to 5% for stablecoins, such as USDT and USDC. Users can choose between flexible deposits or fixed deposits of 30 or 60 days. 

9. CoinLoan

CoinLoan offers crypto-backed loans as well as savings accounts to earn interest. It also offers the ability to trade, buy, and sell cryptocurrencies. CoinLoan was founded in 2017 and is headquartered in Tallinn, Estonia.

Crypto-backed loans can support 25 cryptocurrencies that can be used as collateral to get a loan in EUR or GBP, and it has a loan-to-value ratio of 20%, 35%, or 50%. The interest rates can vary depending on the chosen cryptocurrency, and loan terms range from six months to five years.

Customers can earn as high as 12.3% APY with CoinLoan’s interest accounts. This includes crypto and fiat deposits like EUR or GBP. The pay-outs are weekly, which may not be the best option for a compounding deposit. However, there is an option to increase the staking rewards by 2% by purchasing and holding CLT tokens. 

What’s the best crypto staking platform for you?

Some platforms in this list might not be available in your region, while others might not be offering your desired assets. That doesn’t mean that holding one crypto asset is better than holding another one, and each investor has a different strategy when it comes to holding crypto long term. But since you already own crypto, why not use it to earn a passive income from it?

Whether it’s about particular crypto staking platforms or information on staking, the BeInCrypto Telegram group has got you covered. The members are friendly and helpful, and can help you get up to speed with the latest in crypto.