Coins have completely reshaped the world of finance, offering a variety of innovative approaches that individuals can use to invest and grow their cash. Crypto Staking has emerged as one of the most attractive approaches for investors to earn passive income while participating in the validation of leading blockchain networks.
However, with so many staking options, it can be tricky for investors to choose the right platform to partner with. In this guide, we’ve ranked and reviewed the best coin-staking platforms of the year to give investors the information they need to maximize their returns.
Top Coin Staking Platforms Ranking
Those interested in the best staking coins should first figure out which platform to use for the process. With that in mind, here are some of the best coin-staking sites currently available to investors:
- Bitcoin Minetrix – The world’s first stake-to-mining network, the pre-sale offers Bitcoin cloud mining through the Ethereum staking platform, with returns of over 10,000% and over $100,000 raised within hours of the pre-sale starting. I raised money.
- Sponge V2 – It is the successor to $SPONGE, which was released in May 2023 and enjoyed great popularity, reaching a market capitalization of $100 million. The profit mechanism is simple. The more $SPONGE tokens you stake, the more $SPONGEV2 tokens you can earn.
- Meme Kombat – A meme-based stake-to-earn ERC20 platform where your favorite memes (Floki vs Pepe, Doji vs Shibainu, etc.) go to war against each other with AI-based visuals and decentralized processing. Additionally, it offers 112% APY with active live betting on the outcome.
- eTukTuk – the upcoming token presale for a sustainable Binance Smart Chain-based project that builds electric vehicle charging stations and reduces carbon emissions – has currently raised $540,000 and offers a 390% return on staking (APY). It has begun.
- OKX – One of the most accessible platforms for Ethereum 2.0 staking. Rewards are provided in BETH, which can be immediately exchanged for Ethereum.
- Binance – The world’s largest domestic currency exchange with high liquidity. Users can stake 14 coin assets and earn returns of up to 6% per year.
- Crypto.com – A user-friendly coin exchange that allows customers to lock up coins or assign stakes to a validator pool through a convenient mobile app.
- Kraken Pro – A widely respected coin exchange designed to appeal to experienced investors. Provides up to 24% APY with biweekly payments.
- Nexo – A beginner-friendly profit mechanism that offers fully customizable returns. It provides smart staking through Nexo’s validator nodes and additional benefits for Nexo holders.
- Coinbase – A highly regulated coin trading platform with a large user base in the United States. Users can start staking with as little as $1.
- Bybit – The ideal coin exchange for stakers looking for high-yield opportunities. Offers up to 545% APY on certain supported tokens.
- MyCointainer – A comprehensive coin ecosystem that offers a variety of profit opportunities. Includes an innovative “cold staking” feature that protects your funds in an offline wallet.
- Aave – A popular open-source decentralized finance protocol that offers token staking opportunities. It is insured by Nexus Mutual and offers an APY of over 12% per annum.
Explore the Best Coin-Staking Platforms
According to Statista, more than $47 billion was staked in the top five staking coins at the end of 2022, demonstrating the sheer scale of this investment opportunity. These numbers are even more impressive considering they were reported during the depths of the coin’s winter and suggest that the staking sector could see even bigger growth this year.
Let’s take a closer look at some of the best staking coin platforms available to investors:
1. Bitcoin Minetrix – New ERC20 coin staking platform offering 10,895% PoS yield and BTC cloud mining rewards
Bitcoin Minetrix ($BTCMTX) is an Ethereum-based BTC cloud mining platform that provides two revenue generation methods: proof-of-stake returns and cloud mining rewards.
Users can stake $BTCMTX tokens or burn credits to BTC through the world’s first stake-to-mining model.
This is a method never seen before in the BTC cloud mining industry, which provides BTC mining through Ethereum. Users stake $BTCMTX to generate mining credits over time. These credits are burned with BTC cloud mining power and Bitcoin rewards. This is a simple concept that makes Bitcoin mining accessible to the public.
Currently, Bitcoin mining is dominated by small-scale mining companies using specialized hardware (ASIC), which is expensive and harmful to the ecosystem. The average person cannot afford this technology, and even if they could, it would be very expensive to maintain profitably. This new pre-sale plays an important role because it requires significant expertise.
Bitcoin Minetrix provides an interface that allows users to burn, withdraw, or stake their coins. Additionally, an overview of ‘Mining Credits Earned’, ‘Mining Power Purchased’, and ‘Total Power Received’ is provided, as well as daily, weekly, and monthly rewards. Users gain full control of the entire operation without purchasing anything, without any technical expertise, and with an upfront investment of as little as $10.
The campaign underwent an advanced manual third-party smart contract audit by Coinsult, and no low-, medium-, or high-risk issues were found within the code.
This staking platform currently offers an incredible return of 10,895% with a mining reward of $158 per block and a total of 3,824,514 staking tokens.
There are 10 stages of pre-sale, and the price per token in the initial stage is $0.011 and is expected to rise to $0.0119 by stage 10. The presale will see 2.8 billion tokens sold, raising over $100,000 within hours of launch. This token is a token with upside potential.
Additionally, you can earn triple returns by staking for high APY or burning for BTC rewards, but it is important to read the whitepaper and understand the risks associated with this token and what it actually offers.
It is also useful to find out more information about Bitcoin Minetrix through its Twitter and Telegram accounts.
| Hard Cap | $32 million |
| Total Supply | 4 billion |
| Pre-Sale Quantity | 2.8 billion |
| Blockchain | Ethereum Network |
| Token Type | ERC-20 |
| Minimum Purchase Amount | $10 dollars |
| How To Purchase | USDT, ETH, BNB |
2. Sponge V2 – High annual returns of up to 4,000%
Sponge’s rapid rise in popularity after its launch in May 2023 may be inevitable. SpongeBob SquarePants-themed marketing accounted for a particularly large portion of the virtual currency market and elicited an enthusiastic response among young men who grew up with cartoons.
Even if it weren’t for the availability of Ethereum-based tokens, this strategy alone could have easily helped the project reach a market capitalization of $100 million. Although its value has since fallen, the launch of a new ERC-20 token, $SPONGEV2, is enough to create a buzz again.
The introduction of new tokens occurs through a stake-to-bridge mechanism, facilitating the transition from $SPONGE to the $SPONGEV2 smart contract. V1 token holders will be rewarded with V2 tokens and can expect significantly higher Annual Percentage Yield (APY) over the next four years.
With more than 400 million V1 tokens already staked in the V2 contract, investors can expect annual returns of up to 4,000%. This level of yield would encourage V1 token holders to permanently lock their tokens in the V2 contract.
To address concerns about token permanence, the play-to-un racing game described in the white paper is highlighted as an additional advantage. Scheduled to be released after the launch of V2, the game offers participants the opportunity to accumulate $SPONGE tokens through competitive gaming events.
| Hard Cap | doesn’t exist |
| Total Supply | 150 billion |
| Pre-Sale Quantity | doesn’t exist |
| Blockchain | Ethereum Network |
| Token Type | ERC-20 |
| Minimum Purchase Amount | doesn’t exist |
| How To Purchase | USDT, ETH, card |
Cryptocurrency is an investment product with no significant volatility and regulation.
3. Meme Kombat – Battle-themed stake-to-win meme platform with 112% APY and blockchain-based betting
Meme Kombat ($MK) is a new stake-to-earn ERC20 platform where memes can gather and battle. So far (for Season 1), a list of celebrity memes has been released, including Doji, Floki, Baby Doji, Milady, Quiche, Mong, Pepe, Pepe 2, Shibainu, Sponge, and Warjack. In Season 2, more memes and fighting styles will be added based on user feedback and network improvements.
Currently, this stake-to-earn platform offers a return of 112%. Of the total supply of 12 million tokens, a relatively large 30% is allocated to staking and battle rewards. 50% (6 million $TGC) will be provided for pre-sale, 10% will be provided as DEX liquidity, and 10% will be provided as community rewards.
A 14-day lock-up period applies to staked tokens. Staked tokens gain interest over time, so users are rewarded for their dedication. These passive rewards tie in well with the active betting aspect of the ecosystem, providing users with a means of double income. Users can specify what percentage of their total payout they want to bet on specific events, depending on their personal risk tolerance and gaming preferences.
In addition to staking rewards, the native $MK token may experience price increases. Because the idea of gathering all memes into one battle arena has never been attempted before. Individual meme tokens have a history of rising parabolically when they receive support from the community.
This new initiative brings together memes and allows them to bet on the outcome through blockchain-based betting. There are three betting types: direct, individual, and individual games, adding depth and sophistication to the battle. Additionally, the platform uses AI rendering to create life-like meme visuals while retaining the original representation of the meme.
According to some analysts, it is a coin with 10x potential in addition to high APY rewards.
The price per token is $1.667, and a total of 6 million tokens will be sold in the pre-sale, with a total hard cap of $10 million.
Detailed information can be found in the white paper and on the campaign’s social channels, Telegram and Twitter.
| Hard Cap | $10 million |
| Total Supply | 120 million |
| Pre-Sale Quantity | 60 million |
| Blockchain | Ethereum Network |
| Token Type | ERC-20 |
| Minimum Purchase Quantity | 100 tokens |
| How To Purchase | USDT, ETH, BNB |
Cryptocurrency is an investment product with no significant volatility and regulation.
4. eTukTuk – Sustainable token to earn rewards and 390% APY
eTukTuk aims to help tuktuk drivers in developing countries switch to electric vehicles and use tuktuks in a more sustainable way.
Currently, most tuk-tuks are operated using internal combustion engines (ICE) and emit more carbon dioxide into the atmosphere than cars.
Therefore, eTukTuk plans to build electric vehicle charging stations and electric vehicle supply equipment (EVSE) to promote the transition to the use of zero-emission vehicles.
eTukTuk, based in Sri Lanka’s capital Colombo, plans to build these charging stations in urban and suburban areas across a range of developing countries.
Through $TUK, a Binance Smart Chain-based token, eTukTuk will help expand its ecosystem. Tuk-tuk drivers can use $TUK tokens to make purchases in the driver app.
A portion of the generated transactions is transferred to local partners, who are responsible for manufacturing and installing EVSEs and EV charging stations. According to the Etuktuk whitepaper, token holders can also receive benefits by staking their tokens.
Annual Percentage Yield (APY) is provided every time a driver makes a payment in the app. These funds are distributed to staking token holders from the staking pool.
TUK is supplying a total of 2 billion tokens and has currently raised over $540,000 through presale, with staking rewards reaching 390%. For more information about eTukTuk, check out the eTukTuk Telegram channel.
Cryptocurrency is an investment product with no significant volatility and regulation.
5. OKX – A popular platform for flexible Ethereum 2.0 staking
One of the best coin staking platforms for those looking to stake Ethereum is OKX. OKX, a leading decentralized exchange, has dedicated staking capabilities for Ethereum 2.0, making it ideal for investors who want to participate in network validation without running their own nodes.
The minimum requirement to use this feature is 0.1 ETH, which is equivalent to $184 at the time of writing. Rewards are paid based on the amount locked on-chain and usually vary from 4% to 20%. Importantly, these rewards are paid in BETH, which can be instantly exchanged for standard Ethereum.
In addition to offering the best coin staking rewards on Ethereum, OKX also offers an interesting airdrop feature. Users who hold new BETH positions for 30 consecutive days can receive additional tokens through airdrops, and the more BETH they hold, the higher their airdrop eligibility.
| Coin Staking Rewards | Between 4% and 20% |
| Minimum and maximum staking amount | Minimum 0.01 ETH, no maximum specified |
| Lock-In Period | No lock-in period |
| Security and regulatory functions | Proof of holdings disclosedProvides “whitelist” function |
| Additional rewards provided | N/A |
| Payment Frequency | every day |
Advantages
- Dedicated Ethereum 2.0 staking service provided
- Proof of holdings disclosed
- Additional compensation provided through airdrop disadvantage
- Rewards are paid in BETH, not ETH
6. Binance – A huge coin exchange utilizing the decentralized finance (DeFI) staking protocol
Another coin staking platform to consider is Binance. Binance is the world’s largest cryptocurrency exchange, regularly handling over $6.7 billion in daily trading volume. Because this exchange is large, it is highly trusted in the industry and is a great option for staking coins.
Binance’s “Decentralized Finance (DeFI) Staking” feature provides staking opportunities for 14 coins/tokens, including Ethereum, and Ripple ( Annual returns vary depending on the asset, but typically range from 0.2% to 6%. Each coin asset has a minimum staking amount, but users can choose a flexible lock-in or fixed amount depending on their preference.
Binance is not the coin staking site that offers the highest APY on the list, but it does offer other features such as Ethereum 2.0 staking. This is a bit different from the decentralized finance staking feature mentioned above because rewards are paid in “BETH”. Through Ethereum 2.0 staking, users can receive daily rewards and exchange BETH tokens for ETH at any time.
Those looking for the next coin that will hit the big time can also open a position cost-effectively through Binance. Binance is one of the cheapest platforms on the list as it only charges maker/taker fees of 0.1%. However, users can enjoy the additional benefit of lowering this fee to 0.075% by paying the fee with Binance Coin (BNB).
| Coin Staking Rewards | Up to 6% APR |
| Minimum and maximum staking amount | Depends on coin/token |
| Lock-In Period | Flexible (choice of 30 or 12 days) |
| Security and regulatory functions | Most client funds are held in cold storageTake advantage of 2-step authentication |
| Additional rewards provided | N/A |
| Payment Frequency | every day |
Advantages
- Low fees when buying and selling coins
- One of the best Chainlink staking platforms on the market
- Choice of flexible or fixed lock-in periods
- Rewards are paid daily
- The world’s largest and most reliable coin exchange disadvantage
- Ethereum 2.0 staking rewards are paid in BETH, not ether
7. Crypto.com – A well-known exchange offering flexible staking periods.
Crypto.com is another coin-staking site designed to appeal to investors of all experience levels. The staking feature is called “Crypto.com Earn” and allows users to stake over 20 coins, including lesser-known tokens such as ONE and NEAR.
Our review of Crypto.com staking concluded that the feature also works with coins that are not based on Proof of Stake (PoS) protocols, greatly improving the options available to investors. Additionally, investors can adjust the reward ratio by selecting the staking amount and period (liquid, 1 month, 3 months).
The Crypto.com staking rewards offered will vary depending on the number of CRO tokens the investor chooses to lock up. CRO is the native token of Crypto.com, so the more tokens used, the higher the return for investors. Investors who lock up more than $40,000 in CRO can receive up to 4% more staking rewards.
Rewards are paid weekly, and ‘individual members’ can receive an additional 2% return rate compared to regular customers. To become an individual member, you must have a Frosted White Gold, Icy White, or Obsidian Crypto.com credit card. However, those interested in coin staking can receive rewards at any time under certain conditions.
| Coin Staking Rewards | Stablecoin up to 6.5%, non-stablecoin up to 12.5% |
| Minimum and maximum staking amount | The minimum amount varies depending on the coin/token, and the maximum amount is $100,000 (coin equivalent) |
| Lock-In Period | Flexible (can choose 1 month or 3 months) |
| Security and regulatory functions | Take advantage of biometric authentication“Bug Bounty” Program Established |
| Additional rewards provided | Earn additional returns by staking more CRO tokens |
| Payment Frequency | Depends on coin asset and staking period |
Advantages
- High Crypto.com staking rewards for both coins and stablecoins
- Floating and fixed staking periods are available
- CRO holders can earn higher returns
- Supports various little-known tokens disadvantage
- High requirements to become an individual member
8. Kraken – The best coin staking platform for experienced investors
Advanced investors looking to start staking coins might want to check out Kraken. That’s because Kraken’s staking protocol is included in the “Kraken Pro” account, which is designed specifically for experienced traders. Kraken Pro is highly customizable and offers a variety of advanced trading tools.
Kraken Pro supports over 200 coins and provides annual returns of up to 24%. Rewards vary depending on the coin/token but are distributed twice weekly for many coins. In particular, 14 of the coins supported by Kraken Pro enable ‘flexible profit generation’ without the need for a lock-up period.
Users can stake the best Reddit coins, including Ethereum, Tezos, and Algorand. Additionally, Kraken Pro provides convenient visualization graphs that highlight the staking rewards investors will receive over time. Lastly, these features are also available in the free Kraken Pro app, available for iOS and Android devices.
| Coin Staking Rewards | Up to 24% of APY |
| Minimum and maximum staking amount | N/A |
| Lock-In Period | Depends on coin/token |
| Security and regulatory functions | Regular internal/external auditsAn additional password called “Master Key” |
| Additional rewards provided | N/A |
| Payment Frequency | Up to 2 times per week |
Advantages
- Up to 24% annual returns
- Payment is possible every other week
- Flexible profit support with 14 coins disadvantage
- Only available through Kraken Pro, not the standard platform
9. Nexo – User-friendly profit mechanism with customized returns
Nexo provides a “profit-making” feature similar to coin staking. This feature allows investors to obtain a predictable income stream for their idle coin assets. Through NEXO profits, investors receive compound interest and daily payments on their investments. This is a good option for those looking for the best decentralized finance interest rates in 2024.
Investors can receive compensation “in kind” or in Nexo, the platform’s native token. Investors who choose the latter can receive an additional 2% return over the standard setup. Regarding annual returns, investors can receive up to 12% if they belong to the “Platinum” level.
This rating is designed for investors who hold more than 10% of their coin portfolio as Nexo tokens. As of this writing, this leading decentralized financial lending platform allows staking for over 35 coins and is available in over 200 jurisdictions around the world. The platform also offers top-notch insurance to protect customers in case of hacking or loss of private keys.
| Coin Staking Rewards | “Platinum” level up to 12% |
| Minimum and maximum staking rewards | Minimum value varies depending on coin, maximum limit is not specified |
| Lock-In Period | Flexible (1 month, 3 months, 6 months) |
| Security and regulatory functions | Insurance available for customersProvides “whitelist” function |
| Additional rewards provided | Up to 2% additional yield is provided when paid with NEXO tokens |
| Payment Frequency | every day |
Advantages
- Daily payout
- Provide higher returns with NEXO payments
- No maximum staking limit disadvantage
- Not regulated in the United States
10. Coinbase – One of the best coin staking platforms for beginners
Coinbase is one of the most user-friendly coin exchanges, boasting a clean interface designed for beginners. The exchange’s staking process is also easy to use and is provided through the “Earn” tab. This feature allows users to earn up to 6% per annum on their coins with a minimum staking amount of $1.
A total of 119 assets, including USDC, ETH, ADA, and SOL, are supported through Coinbase accumulation. Coinbase may require a “cooldown” before trading or selling tokens on the relevant blockchain network, but users can opt out at any time.
All of Coinbase’s staking coins are stored in one place, and users can participate by simply clicking “Start Earning.” Coinbase offers “cloud staking,” allowing investors to keep their assets intact while protecting the network.
| Coin Staking Rewards | Depends on the token; Up to 686% APY |
| Minimum and maximum staking amount | Minimum $1 (coin equivalent), maximum amount not specified |
| Lock-In Period | Depends on coin/token |
| Security and regulatory functions | Provide insurance to protect customers from cyber attacksStrict Know Your Customer (KYC) requirements |
| Additional rewards provided | N/A |
| Payment Frequency | Depends on coin/token |
Advantages
- Beginner-friendly staking process
- Staking possible from as little as $1
- In some cases, we offer over 600% APY disadvantage
- Strict KYC requirements for signing up
11. Bybit – Top APY coin staking site offering returns of up to 545%
Bybit is another top coin exchange that allows users to increase their coin holdings through staking. This process is facilitated through “Bybit Accumulation”, which supports more than 30 coins/tokens. At the time of this writing, the APY provided through Bybit savings has increased up to 545%.
Bybit offers various lock-in periods of up to one month. The longer the lock-in period, the higher the return. In particular, Bybit helps investors maximize profits through the “automatic accumulation” function, which automatically transfers eligible coins to the accumulation mechanism.
Some famous new coins such as APT and FITFI are being provided through Bybit revenue generation. In addition to this mechanism, Bybit also offers Ethereum 2.0 liquidity staking and liquidity mining, ensuring more profit opportunities for experienced investors.
| Coin Staking Rewards | Up to 545% APY |
| Minimum and maximum staking amount | N/A |
| Lock-In Period | Offer flexible and fixed periods (e.g. 3 days, 1 month) |
| Security and regulatory functions | Multi-signature technology to protect customer fundsTake advantage of IP detection and verification features |
| Additional rewards provided | N/A |
| Payment Frequency | Returns generated every day |
Advantages
- Some tokens have APYs of over 500%
- Profits are earned every day
- Convenient “automatic accumulation” function disadvantage
- Setup may be too complicated for beginners
12. MyCointainer – Easy-to-use platform with innovative “cold staking” features
MyCointainer is one of the best coin staking platforms for asset selection. Coin investors can access staking opportunities for over 120 coins and receive annual returns in excess of 100%. Importantly, MyCointainer is a licensing partner of Fireblocks, strengthening the security of the platform.
There are various ways to earn profits with MyCointainer, including ‘cold staking’, where investors delegate tokens to MyCointainer’s nodes. This allows investors to participate in the security of the relevant network while receiving the same rewards and benefits as the standard staking process.
Investors can further increase their profits through MyCointainer’s airdrops, prizes, and cashback. Cashback is especially attractive because it is offered by more than 2,300 global retailers, with some offering up to 7% cashback per transaction.
| Coin Staking Rewards | Up to 109% |
| Minimum and maximum staking amount | Minimum value varies depending on coin/token, maximum value is not specified |
| Lock-In Period | No lock-in period |
| Security and regulatory functions | Use SSL encryption“Cold staking” service provided |
| Additional rewards provided | Cashback and free coin airdrops provided |
| Payment Frequency | every day |
Advantages
- Supports over 120 coins
- Cashback and prizes provided
- Fireblock Licensing Partner disadvantage
- The platform has a minimum withdrawal amount for each asset
13. Aave – Decentralized financial protocol with built-in staking mechanism
Last on our list of best coin staking platforms is Aive. Aive is one of the best DeFI coins on the market because it is a decentralized platform that allows investors to borrow and lend cryptocurrency tokens. The platform’s staking process works by allowing users to secure the protocol by staking AAVE, the platform’s native token.
To begin the staking process, you will need a compatible wallet and some AAVE tokens. The rate of return can be up to 12.22%, and rewards are distributed as additional AAVE.
As with most staking protocols, the exact rate of return will depend on the number of AAVE tokens staked and the staking period. Lastly, although many investors stake directly through the protocol’s interface, you can also stake AAVE through the most popular brokers and exchanges.
| Coin Staking Rewards | Between 6.14% and 12.22% |
| Minimum and maximum staking amount | N/A |
| Lock-In Period | 10-day “cooldown” period when de-staking |
| Security and regulatory functions | Smart contracts are regularly auditedSubscribe to Nexus Mutual Insurance |
| Additional rewards provided | N/A |
| Payment Frequency | Depends on amount of funds deposited and utilization rate |
Advantages
- Annual returns of over 12%
- Subscribe to Nexus Mutual Insurance
- Fully decentralized staking setup
- One of the best coin lending platforms disadvantage
- There is a “cooldown” period when de-staking
Best Coin Staking Sites Comparison
Now that we have looked at the best coin staking sites, we have prepared a table comparing all 10 platforms to help investors easily figure out which platform they would like to partner with:
| Platform | Staking Rewards | Min/Max Staking Amount | Lock-In Period | Security Features | Additional Rewards | Payment Frequency |
| Wall Street Memes | Currently 60% APY | Minimum $10 | at least 7 days | Powered by Web3Payments | N/A | every day |
| Meme Kombat | Currently 112% APY | 100 tokens | at least 14 days | Smart contract auditFounder of Doxxed | N/A | every day |
| eTukTuk | Currently 390% APY | Depends on coin/token | at least 14 days | Smart contract audit | N/A | every day |
| Binance | Up to 6% APR | Depends on coin/token | Flexible (choice of 30 or 12 days) | Keep most client funds in cold storageTake advantage of 2-step authentication | N/A | every day |
| Crypto.com | Up to 6.5% for stable coins, up to 12.5% for non-stable coins | The minimum amount varies depending on the coin/token, and the maximum amount is $100,000 (coin equivalent) | Flexible (1 month, 3 months) | Take advantage of biometric authenticationA “Bug Bounty” Program Is Established | Earn additional returns by staking more CRO tokens | Depends on coin asset and staking period |
| Kraken | Up to 24% APY | N/A | Depends on coin/token | Regular internal/external auditsAdditional password called “Master Key” | N/A | Up to 2 times per week |
| NEXO | “Platinum” level up to 12% | Minimum amount varies depending on the coin, maximum amount is not specified | Flexible (1 month, 3 months, 6 months) | Insurance for customersProvides “whitelist” function | Provides up to 2% additional yield when paid with NEXO tokens | every day |
| OKX | Between 4% and 20% | Minimum 0.01 ETH, no maximum specified | No lock-in period | Proof of holdings disclosedProvides “whitelist” function | N/A | every day |
| Coinbase | Depends on the token; Up to 686% APY | Minimum $1 dollar (coin equivalent), maximum amount not specified | Depends on coin/token | Have insurance to protect customers from cyber attacksHave strict customer identification (KYC) requirements | N/A | Depends on coin/token |
| Bybit | Up to 545% APY | N/A | Offer flexible and fixed time periods (e.g. 3 days, 1 month) | Multi-signature technology protects customer fundsEnable IP detection and verification | N/A | Returns generated every day |
| MyCointainer | Up to 109% | Minimum amount depends on coin/token, maximum amount is not specified | No lock-in period | Use SSL encryption“Cold staking” service provided | Cashback and free coin airdrops | every day |
| Aave | Between 6.14% and 12.22% | N/A | 10-day “cooldown” period when de-staking | Smart contracts are regularly auditedSign up for Nexus Mutual Insurance | N/A | Depends on deposit amount and utilization rate |
What is Coin Staking?
Understanding Coin Staking
- Staking is a way for investors to receive compensation for holding specific coins.
- Staking is popular because it allows investors to generate profits from idle assets.
So what is staking and how does it work? We take a closer look at these two questions below:
How does coin staking work?
Simply put, coin staking is the process of participating in the Proof of Stake (PoS) mechanism of a specific blockchain network. This process involves “staking” some of the network’s native tokens to validate transactions and maintain the network’s level of security. People who help the network in this way will receive rewards in the form of additional tokens.
How coin staking works is briefly explained as follows:
- Deciding which coins to stake
- Coin/Token Purchase
- Choose your staking method
- Decide which staking platform to use
- Start staking
- Unstaking Coins/Tokens
The above steps may vary depending on the blockchain and other factors, but generally follow this structure. Since each staking token has a unique rate of return attached to it, it is wise to shop around and find one that can provide the rewards you need.
However, it is also important to be aware of the risks associated with staking. Because tokens are ‘locked up,’ there is room for their value to decline in the meantime. Additionally, it is possible for the staking network to be compromised and your funds stolen, although this is unlikely, but it is important to understand that it is possible.
On-chain and off-chain staking
When looking for the best coin-staking platform in 2024, it is also essential to understand the definition and differences between on-chain staking and off-chain staking.
- On-chain staking: On-chain staking is a method of staking tokens directly on the blockchain network. Stakers must use a wallet to lock up their tokens and may need to run a node.
- Off-chain staking: This process involves staking through an intermediary such as a broker or exchange. Stakers deliver their tokens to an intermediary, and the intermediary stakes tokens on their behalf.
Both approaches have pros and cons, so neither is considered the “best” approach. Ultimately, on-chain staking is considered more decentralized and secure, but it can be more complex, which can be overwhelming for beginners.
Off-chain staking, on the other hand, is much more accessible because an intermediary handles all the technical aspects. Additionally, this approach often requires a lower minimum staking amount. However, because a third party manages the user’s tokens, there are always security risks to be aware of.
Benefits of Coin Staking
Key points of coin staking:
- Are your coin assets just collecting dust in your wallet? Staking is a popular choice among long-term holders who want to earn rewards and utilize their assets.
- Staking enhances the security and efficiency of the blockchain, increasing its resistance to attacks and transaction processing capabilities.
- Getting started staking coins is as simple as purchasing tokens. Simply select a cryptocurrency exchange that supports staking and open an account.
Choosing a coin staking site offering the highest APY and locking up tokens is a popular process completed by hundreds of thousands of investors around the world. Why is this course so popular? Below are some key reasons:
Providing unearned income
Naturally, one of the main benefits of coin staking is that it allows investors to generate passive income. By locking up tokens, investors can receive compensation in the form of additional tokens.
Because these revenue streams are inherently predictable, staking can be an attractive opportunity for those looking to maximize their idle coin assets. Additionally, this process is ideal for novice investors as it is a relatively ‘hands-off’ process.
Contribute to network security
Another important advantage of staking is that investors can contribute to the security of a specific network. For example, when investors stake Ethereum, it can effectively help verify the validity of transactions that occur on the network.
Even with the best coin staking platform in 2024, investors can indirectly help maintain the integrity of blockchain networks. This, in turn, helps protect your network from cyberattacks or fraud.
Voting Access
In many cases, staking coins gives investors access to voting rights. This is mainly the case for DAOs, which are effectively run by token holders who vote on proposals.
Although coin staking does not provide additional financial gains, it is a powerful way for investors to help develop a specific blockchain network.
Provide incentives for long-term investment
Similar to using the coin platform that offers the highest returns, coin staking can incentivize investors to hold coin assets for the long term. Many staking platforms require a lock-up period, meaning investors cannot access their holdings for a certain period of time.
As more people choose long-term holding, the volatility of the coin market decreases. As we saw in our Crypto.com staking review, the rewards for staking over long periods of time can be high, providing additional incentive for investors.
Which coin is best for staking?
According to coin data platform StakingRewards.com, there are currently more than 170 verified yielding assets across various blockchain networks. With such a wide range of choices, it can be tricky for investors to figure out which coin offers the best Gishing staking rewards.
To further simplify this process, we have already introduced you to Bitcoin Minetrix, and we would like to introduce four popular coin assets for investors interested in staking to check out:
Ethereum (ETH)
Ethereum is one of the most popular proof-of-stake tokens for those looking to start staking their coins. This smart contract platform recently switched to a proof-of-stake protocol, meaning investors can now stake their Ethereum tokens and generate noteworthy returns.
According to various sources, there is currently over $33 billion worth of Ethereum staked on the network, equivalent to 14% of the total market capitalization. Those running validator nodes can generate an APR of 4.9%, but this requires staking at least 32 ether.
Polkadot (DOT)
Polkadot has long been considered one of the most promising cryptocurrencies, thanks to its unique “parachain” technology that enables interoperability between blockchains. The network uses a proof-of-stake protocol, and the more DOT tokens a user stakes, the higher their chances of being selected as a validator.
You can easily stake DOT through various popular platforms and popular wallet providers such as Ledger. Staking rewards vary depending on the platform used, but can usually exceed 15% per year.
Tezos (XTZ)
Tezos is another proof-of-stake blockchain designed to support decentralized applications (dApps) and smart contracts. The network’s native token is XTZ, and investors must stake for at least twenty-three days to start receiving rewards.
Those who delegate XTZ tokens to the network’s validators can receive rewards of over 5% per year. XTZ can be easily purchased through most brokers and exchanges, and many of these platforms offer their own staking settings for Tezos.
Avalanche (AVAX)
Avalanche is a staking coin that provides approximately 8% annual rewards to those who delegate AVAX tokens. Delegators provide tokens to verifiers who verify transactions that occur on the network.
Users simply purchase AVAX tokens and then select a validator to delegate to. However, these validators charge a “fee” for their services from accumulated staking rewards.
Is coin staking worth it?
Similar to investing in coins with the greatest potential, staking can be an attractive opportunity for those looking to maximize returns. However, as with all investment activities, whether staking is “worth it” ultimately depends on the investor’s goals and risk tolerance.
The biggest advantage of staking is that it provides a predictable source of income. This aspect can be especially attractive during times of economic turmoil, as the returns are often higher than those available from “traditional” savings accounts.
Additionally, avid stakers naturally diversify their portfolios by purchasing a variety of coins and tokens. As any experienced investor will know, diversification is critical to optimizing the risk/return profile of your investment portfolio.
However, staking cannot be considered a “bulletproof” approach because it carries certain risks, such as the possibility of token value decline or network corruption. Therefore, investors must carefully weigh the pros and cons and decide whether it is worth it.
How to Stake Coins
As we have seen so far, coin staking can be a great way for investors to generate passive income with coins/tokens they already own. However, the process of getting started with staking can be a bit complicated at first, especially for beginners.
To simplify this process, here are the four steps investors must go through to stake coin assets through the coin staking platform OKX:
First step – Access OKX homepage
Before staking coins, investors must create an OKX account. To do this, go to the OKX website and click “Sign Up.” On the next page, simply enter a valid email address, select a username, and create a password. Afterward, an email will be sent containing a link to confirm the email address provided by OKX.
Step 2 – Account Verification
What documents do I need?
Level 1 — Primary ID
- In step 1, users must enter their nationality, name, and document identification number.
Level 2 — Photo ID
- In step 2, users must verify their identity with a photo ID. Additionally, facial authentication must be performed through Netverify.
Level 3 — Disclaimer
- After passing the first two steps, users can read the disclaimer on OKX’s mobile app or web page and complete the third level of identity verification.
How do I complete Identity Verification Level 1?
OKX requests identity verification to perform certain operations on the exchange. This verification process is called KYC (Know Your Customer). KYC was introduced to keep the exchange safe from fraud and other illegal activities.
Without verification, you can still use your account to make deposits, but you will not be able to withdraw funds and your transactions will be restricted.
Level 1 asks you to verify your personal information so that we can increase your daily withdrawal limit to the equivalent of 200 BTC.
Go to your account profile icon in the top navigation bar. Click the icon and select OK from the drop-down menu. If you are trading for personal purposes, you can select a personal account.
Depending on your country, you may be prompted for some combination of the following information:
- Nationality
- ID card type
- ID number
- Legal name, middle name, and last name
If you have entered valid information, confirmation will occur immediately. If you are transacting on behalf of a company or organization, you can select a corporate account.
Depending on your country, you may be prompted for some combination of the following information:
- Nationality
- Company name
- company registration number
- Establishment date
- Address and zip code
- consent document
What is a user’s daily withdrawal limit?
| ID verification | Daily withdrawal limit |
| unverified account | 10Bitcoin |
| level 1 | 200 Bitcoin |
| level 2 | 500 Bitcoin |
| level 3 | 500 Bitcoin |
Third Step – Purchase Coin Assets Backed by Local Currency
OKX allows you to easily purchase coins with your local currency. You can purchase coins through the following simple steps:
1. Log in to your OKX account and click “Buy Crypto” in the top menu.
2. A quick deals tab with an interactive purchase widget will appear. First, select the currency you want to use for your purchase. Then simply select the coin you wish to purchase.
3. Enter the local currency amount to be used to purchase coins. Alternatively, you can select the amount of coins you want to purchase and it will calculate the amount you need to pay.
4. Select a payment method to purchase coins. Depending on your region, there may be several options for how to purchase.
5. Click Buy to create a purchase order.
6. In the quick transactions section you can see all the offers available for purchasing coins. The best offers are highlighted and based on fees, delivery times, and seller ratings. To get detailed information about the seller, click the Info button.
7. Select the best offer and click Buy to complete your order. OKX uses third-party providers for crypto purchases. Go to the seller’s website to complete your purchase. Click Pay with the vendor to close OKX and complete the purchase.
8. You will be redirected to the supplier’s site where you can complete your purchase. Once processing is complete, you can receive coins in your funding account.
In the Payment section, enter the amount in your local currency for your purchase. If you want to purchase a specific amount of coins, just enter it in the receive section.
Step 4 – Start staking
The coin staking process is fully automated, so investors do not need to do anything after a position is opened. Staking rewards are deposited into the investor’s account every month, along with an email detailing how the proceeds and final total were calculated.
Do I pay taxes on coin staking?
It is natural for investors to worry about ways to circumvent coin taxes, and this also applies to those who participate in the staking process. Crucially, staking income is generally taxable, but this may vary depending on the country in which the investor resides.
Taking the United States as an example, staking rewards are considered “income”. This means that investors must report their income on their tax returns, and failure to do so may result in fines or greater penalties.
For investors to remain compliant, it is best to keep detailed records of all staking transactions, including how many rewards they have received and when they started staking. Some investors may also use coin tax software, which simplifies the process and ensures accurate reporting.
Is coin staking safe?
Before we conclude our coin staking guide, one last question: Is the staking process safe? Ultimately, like any other type of investment, staking carries certain risks. However, if investors understand and accept these risks, staking can be a great way to maximize potential returns.
The biggest concern when staking is actually related to the blockchain network involved. Even the best coins for staking can be subject to cyber attacks or security breaches, such as when someone breaks into the relevant blockchain network. Therefore, it is important to only stake coins from reputable and secure networks.
Another safety aspect to consider is the overall volatility of the coin market. Most of the most volatile coins are ‘stakeable’, so there is always a risk that the value of staking rewards will rise or fall. Investors can mitigate this risk by diversifying their portfolio by purchasing more than one staking coin.
But overall, coin staking is a relatively safe means compared to other strategies such as scalping or day trading. By investing only in high-quality tokens using a secure staking platform like OKX, investors can give themselves the best opportunity to create a recurring income stream.
Best Coin Staking Platform – Conclusion
In summary, the best coin staking platforms offer investors a simple and profitable opportunity to increase their asset base. Investors can make the most of this exciting process by considering factors such as security, supported assets, and user-friendliness.
Among these platforms, Sponge V2 is emerging as an excellent choice for cryptocurrency staking. It is an emerging cryptocurrency project that offers an innovative stake-to-mining solution with a low barrier to entry.
