Last Updated on April 30, 2021 by cryptocreed
Have cryptocurrency but not sure what to do with it? Do you know you can earn cryptocurrency on cryptocurrency by staking it? Yes, you can and there are thousands of crypto users are earning from cryptocurrency staking rewards.
In this article, you will get to know which coin is best for crypto staking rewards and which platform is best for it.
If you do Google then you might find many scam websites which will claim that they are the highest ROI providers, you do not have to fall in numbers. There are many different factors which can affect your earning.
What is Cryptocurrency Staking?
Staking is the process where one can lock his money on any platform like cryptocurrency wallet or cryptocurrency exchange. It is also the process of maintaining operations of a Proof-of-Stake (PoS) based blockchain.
It generates revenue for you as cryptocurrency mining does but the procedure is fully different. You don’t need to purchase any hardware and mostly you can get your coin back anytime.
Benefits and Cons Of Cryptocurrency Staking
Benefits
Easy To Start:- You can start staking very easily. What you need to do is just choose the platform and must have cryptocurrency.
Claim Back Anytime:- You can unstake your coin anytime. For example, if you feel that coin is dumping very fast and this is a good time to sell a specific coin then you can unstake and sell it.
High Profit:- If the coin get’s pumped then definitely you are going to get a huge profit else you will get a normal profit.
Cons
Proper Platform:- Not choosing a legit platform can cause you to lose funds.
Coin Rate:- No one knows what will be the rate of cryptocurrency tomorrow or the day after tomorrow. Hence if you stake the coin and the coin rate falls drastically then you are at loss.
Should I Do Crypto Staking
Doing staking is not tough and doesn’t need any special skill or knowledge. Hence anyone can do that. So should you do crypto staking? Yes, you should as you are not losing anything here.
Most people who don’t do trading prefer staking.
Who doesn’t have use of a coin can stake their coin to earn a profit?
Moreover, you can withdraw your coin anytime so you don’t need to worry about instant loss.
Where To Stake Your Cryptocurrency
There are different places where you can stake your cryptocurrencies like exchanges, wallets, and staking service providers. below are the best crypto staking platforms.
Cryptocurrency Exchange
Nowadays cryptocurrency exchanges are offering almost all services that are related to cryptocurrency. The main benefit of using an exchange is that you get instant access to purchasing or trading any coin.
Following are the best cryptocurrency exchange that supports Staking.
Binance Locked Staking
No doubt Binance is the best cryptocurrency exchange. They have their own coin BNB which recently grew to $300 from $50 within a month.
Not only on the main website but also you can stake on their US website (Binance us staking), which is specially made for USA users
Binance US has fewer options in comparison to the global version. At the time of writing, they have 7 coins on Binance US and more than 40 coins on the global version.
How to Do Staking On Binance?
- First, you need to register on Binance.
- Make a deposit on your Binance wallet or purchase crypto which you want.
- Click on Binance Earn under the Finance option.
- Scroll down and find Fixed Terms and click on Staking. (You can choose any other staking methods too)
- Now a new popup will be open.
- Enter the amount and choose the duration and click on Stake.
- That’s all, now you just need to wait.
In case you are using a mobile app then visit click on More and then you will find the Staking option in Finance.
How to unstake on Binance? Just visit the staking page and click on unstake.
Binance staking calculator? You will get the value that you will get back on the popup page.
Binance staking fee:- They do not have any fee, ZERO FEES.
CoinBase Staking
Coinbase is USA based cryptocurrency wallet and exchange platform. They are the most preferred exchange by newbies and mostly in the American region.
The problem with Coinbase is that they offer their staking service in a limited number of countries and a limited number of coins too.
You can earn up to 7.5% APY Coinbase staking rewards and can choose anyone coin from 6 supported coins. Ethereum, Algorand, Cosmos, Tezos, DAI, and USD Coin.
Coinbase staking fee:- They have fees of up to 25%.
Kucoin Staking (PoolX)
Yes, Kucoin also supports cryptocurrency staking rewards. If you already have an account then you do not have to create an account on PoolX, you can use Kucoin credential to log in on PoolX.
If you haven’t registered on Kucoin then you can register on PoolX here.
They currently support more than 30 coins. Most known and trusted EOS, TRX, and DOT Kucoin staking coins are available. And you can earn up to 50% APY from the Kucoin staking program.
Kucoin staking calculator:- You can find the calculator on the staking page itself and can choose a coin and can see results. Kucoin shares calculator is easy to use.
Kucoin staking fee:- They have a fee of 10%.
Gate.io
Gate.io is one of the trusted exchange platforms and it offers to stake too but the fee they take is too huge which is 33%.
Currently, they support more than 15 coins for staking through which you can earn up to 25%.
Crypto Wallet Staking
If you don’t trust exchanges then cryptocurrency wallets are the best alternative to start staking. Below is some trusted wallet that you can use for crypto coin staking.
Ledger Wallet:- Ledger is one of the secure cryptocurrency hardware wallets. You can use the following coins to stake Tezos, Tron, Cosmos, and Algorand. Cryptocurrency staking rewards are supported.
Trezor Wallet:- Trezor also supports staking using third-party apps like Exodus.
Atomic Wallet:- Atomic supports more than 7 cryptocurrencies and you can earn up to 25% APY.
Trust Wallet:- It is one of the trusted cryptocurrency wallets that is supported by Binance. You can earn up to 140% APY.
Cryptocurrency Staking Coins
It definitely depends on you, which coin you choose. You can either go with a coin that offers high ROI and brand new or can go with an old coin with low ROI.
Below is the best coin you can use to stake.
Staking Coins List
- Cosmos staking
- Neo staking
- Vechain staking
- XTZ staking
- Matic
- Tron staking rewards
- Ada staking rewards
- Ethereum staking rewards
- Polkadot staking rewards
- Cardano staking rewards
These are some of the best staking crypto coins.
Frequently Asked Question
What are staking rewards?
Staking rewards are the method where you can earn money by staking your coins.
Where I can find a staking rewards calculator?
Each of the platform or website have their own staking calculator. Use them to know your earning.
Is cryptocurrency staking worth it?
Yes, it is. You can stake for sure.
Cryptocurrency staking tax?
Call your CA.
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