9 Best Crypto Staking Platforms in 2024

Are you looking for the best crypto staking platforms to earn passive income with your digital assets?

Staking is a popular way to earn interest in your crypto holdings, and there are many platforms to choose from. But with so many options, it can be hard to know where to start.

In this post, we’ll run through a few of the major players in the crypto staking space, including well-known exchanges that support multiple PoS cryptocurrencies.

We’ll also cover different types of staking, such as locked staking and DeFi staking, so you can make an informed decision about where to stake your crypto.

Keep reading to find the best crypto staking platforms for your needs.

Methodology: How to Decide the Best Crypto Staking Platform?

When deciding on a crypto staking platform, there are several factors to consider:

1. Security: Make sure the platform has a strong track record of security and has implemented measures such as cold storage and multi-sig wallets to protect your assets.
2. Staking rewards: Compare the staking rewards (APY) offered by different platforms to see which one offers the best return on your investment.
3. Community support: Look for a platform that has a strong and active community, as this can indicate a healthy and sustainable project.
4. Token support: Make sure the platform supports the token you want to stake.
5. Platform fees: Compare the fees associated with different platforms, such as withdrawal fees, to ensure you’re getting the best deal.
6. Ease of use: Choose a platform that is easy to navigate and understand, especially if you’re new to staking.
7. Governance: Check if the platform has a governance mechanism, it allows token holders to vote on important decisions and has a say in the direction of the project.
8. Liquidity: Check if the platform has good liquidity so you can easily sell or trade your staked tokens.

Best Crypto Staking Platforms Compared

Platform	APY/ APR	Supported Cryptocurrencies	Minimum Staking Amount	Staking Period	Withdrawal Fees	Additional Features
Nexo	6-12%	BTC, ETH, XRP, LTC, BCH, EOS, XLM, TRX, USDT, USDC	$10	Flexible, 1 month, 3 months, 6 months, 12 months	None	Borrowing, Lending, Nexo Card, Nexo Exchange
Binance	6-15%	BTC, ETH, DOT, ADA, XRP, BCH, LTC, XLM, ATOM, EOS, LINK, TRX, XTZ	Varies by cryptocurrency	Flexible, Locked for 7-90 days	Varies by cryptocurrency	Staking pool, Launchpad, Binance Card
Crypto.com	2-14%	CRO, BTC, ETH, LTC, XRP, DOGE, USDT, USDC	Varies by cryptocurrency	Flexible, 1 month, 3 months, 6 months	Varies by cryptocurrency	Crypto.com Visa Card, Crypto Earn, Crypto Pay
KuCoin	1-20%	BTC, ETH, DOT, KCS, USDT, USDC, TRX, EOS, XRP, ADA, ATOM, VET, FIL	Varies by cryptocurrency	Flexible, Locked for 30-90 days	Varies by cryptocurrency	Soft Staking, Pool-X, KuCoin Play
Bybit	1-10%	BTC, ETH, EOS, XRP	Varies by cryptocurrency	Flexible, 7 days, 14 days, 30 days	Varies by cryptocurrency	Bybit Rewards
Gate.io	2-15%	BTC, ETH, DOT, KSM, FIL, DOGE, TRX, ATOM, LINK, USDT, USDC	Varies by cryptocurrency	Flexible, Locked for 7-90 days	Varies by cryptocurrency	Spot Trading, Margin Trading, Perpetual Contracts
Kraken	5-12%	ETH, KSM, DOT, ADA, ATOM, SOL, ALGO, XTZ	Varies by cryptocurrency	Flexible, 30-180 days	Varies by cryptocurrency	Kraken Pro, Kraken Futures, Kraken Earn
eToro	1.2-5%	BTC, ETH, XRP, BCH, ADA, LTC, XLM	Varies by cryptocurrency	Flexible, 30-90 days	Varies by cryptocurrency	CopyPortfolios, Social Trading, eToro Wallet
Coinbase	1-10%	ETH 2.0	Varies by cryptocurrency	Flexible, Locked for 1-2 years	None	Coinbase Wallet, Coinbase Card, Coinbase Pro

Note: The APY/ APR and other features offered by these platforms are subject to change and may vary based on the cryptocurrency being staked, the staking period, and other factors.

9 best Crypto Staking Platforms in 2023

Here is the list of the top 9 best crypto staking platforms for high APY and returns on investment.

1. Nexo

Nexo is a revolutionary crypto lending platform that gives users the power to earn interest on their digital assets simply by staking them as collateral.

Imagine being able to deposit your beloved crypto into a Nexo account and receive a loan in either USD or EUR, while your digital assets remain safe and secure in your own personal wallet.

But that’s not all, by staking NEXO tokens on the platform, users are not only able to earn a higher interest rate on their loans, but they also get a slice of the platform’s profits through a generous dividend payout.

It’s like having your cake and eating it too.

Staking NEXO tokens on the platform allows users to earn a higher interest rate on their loans and also gives them a share of the platform’s profits through a dividend payout.

Key Features of the Nexo Platform

1. Earn Interest
   • Up to 20% annual interest on crypto staking
   • Unique daily payout available
   • $375 million insurance on all custodial assets
   • Deposit or withdraw funds at your convenience
2. Borrow Assets
   • Interest rate starting from 0% APR
   • $375 million insurance on all custodial assets
   • A minimum of $50 and a maximum of $2 million cash borrowed available
   • Automatic approval, no credit checks
3. Nexo card
   • Accepted by 40+ million merchants worldwide
   • Instant 2% cashback on all purchases
   • Flexible repayment options
   • Free virtual cards
   • Payments in local currencies
   • No monthly/annual fees, no FX fees

Pros and Cons of Nexo Staking

Pros	Cons
High returns on staked NEXO tokens.	Staked tokens cannot be used for loans or other services offered by the platform.
Potential for bonuses and other incentives.	The value of the staked tokens may decrease if the platform or cryptocurrency market performs poorly.
A way to support and contribute to the growth and development of the platform.	Staked tokens may be subject to lock-up periods and other restrictions.

Read a Complete Guide: Nexo Review 2023

2. Kucoin

KuCoin staking is available for a variety of cryptocurrencies, including but not limited to, Bitcoin, Ethereum, Litecoin, and KuCoin’s own KCS token. Each cryptocurrency has its own staking requirements and rewards, which can be found on the KuCoin exchange.

Services including Flexible Savings, Staking, Polkadot, and ETH 2.0 are offered by KuCoin Earn in both flexible and fixed terms. Users of flexible-term services can withdraw their money at any time.

When a fixed-term investment matures, the money will be automatically redeemed to the customer’s account. Fixed-term assets provide a greater yield or Interest than flexible-term ones.

There are three types of staking-

1. Flexible staking
2. Locked staking
3. Fixed duration-based staking i.e. 30 days, 60 days, 90 days, and 120 days.

Key Features of Kucoin Staking

• High returns: Users can earn staking rewards of up to 20% per year for some supported cryptocurrencies.
• Easy to use: Staking can be done directly from the user’s Kucoin account, with no need for additional technical knowledge or setup.
• Support for multiple cryptocurrencies: The program supports a wide range of cryptocurrencies, including popular ones like Ethereum and EOS.
• Flexibility: Users can choose to stake for a set period of time or indefinitely, and can also choose to unstake at any time.
• Low minimum requirements: Users can stake as little as 1 unit of a supported cryptocurrency.
• Safety: Kucoin is a regulated exchange and takes security measures to ensure the safety of users’ assets.

Pros & Cons of Kucoin Staking

Pros	Cons
Best exchange and staking services	centralized control
perks for using the KCS token	shorter period
supports more than 600+countries
staking rewards based on time duration
No fees
loan and borrowable

3. Gate.io

Gate.io is a popular cryptocurrency Exchange platform with many additional features including staking and lending services. Users of Gate.io HODL&Earn have access to several options to generate passive income by just holding.

For the lock-up and earn product, which is comparable to a term deposit, users must lock up cryptocurrency for a predetermined amount of time. Early withdrawal is not permitted. When the period is over, interest and principal amount will be immediately released.

PoS staking products are also available, which function similarly to checking account deposits in that you can spend the cryptocurrency whenever you choose and still earn daily interest on the remaining cryptocurrency (if no less than a minimum threshold).

Gate.io aims to add the most currencies to the PoS staking list and provide users with the highest staking interest possible.

Key Features of Gate.io HODL & EARN

• Support for multiple cryptocurrencies: Users can earn interest on a variety of digital assets, including Bitcoin, Ethereum, and stablecoins.
• Flexible interest rate: The interest rate for HODL & EARN varies depending on the coin and the duration of the deposit.
• No lock-up period: Users can withdraw their funds at any time without penalty.
• High security: Gate.io uses multi-signature and cold storage to ensure the safety of users’ assets.
• Daily interest: Interest is paid out daily, allowing users to compound their earnings over time.

Pros and Cons of Gate.io

Pros	Cons
No hidden fees	Non-regulated
No minimum deposit and withdrawals	high loan volatility
own exchange available	Limited free withdrawals
loan, staking, and borrowable available

4. Binance Staking

Binance is one of the top cryptocurrency staking platforms for individuals who want to make a lot of money. This well-known trading platform can handle approximately 120 distinct staking currencies, encompassing a wide range of coins and APYs.

Furthermore, Binance provides a variety of settings for how long you want to keep your tokens locked up. This usually lasts for ten, thirty, sixty, or ninety days.

There are two different types of Staking on Binance:

Locked Staking

Locking up supporting coins will reward you more. The money is not accessible for redemption or trade during the lockup period (you can unlock the coins in advance but no rewards will be distributed).

For people who want to hold for a while, this is a great choice.

Benefits of Locked Staking

• It offers a high APY of up to 200%.
• The staking period can be 15, 30, 60, 90, or 120 days
• If you want to redeem your staked coins before the completion period, you won’t be rewarded with interest.
• best for short-term holders

Defi Staking

Defi (Decentralized Finance) uses smart contracts to offer customers financial services. Existing Defi initiatives seek to increase yearly profits for particular currencies.

The entry point for Defi product consumers is rather high. Binance Defi Staking gathers and distributes realized earnings on behalf of users, acts on their behalf to engage in certain Defi products, and enables users to do so with a single click.

Earnings are computed starting at 0:00 (UTC) the next day after the money has been successfully allocated to Defi Staking. Earnings for a period of less than one day will not be included in the earnings distribution since the minimum earnings computation period is one day.

Advantages of Binance Defi Staking

• Easy to Use
• Funds are Safe
• High yields and earnings
• high liquidity
• fast redeem available

Pros and Cons of Binance Staking

Pros	Cons
Potential for higher returns compared to traditional savings accounts	Not as safe as keeping funds in a savings account or a stablecoin
Opportunity to earn passive income on idle cryptocurrency holdings	May not be suitable for short-term investment goals or liquidity needs
Easy-to-use platform with a user-friendly interface	Not all cryptocurrencies are available for staking, limiting investment options
Binance offers a variety of staking options with varying lock-up periods, allowing for flexibility
Staking rewards are distributed daily, allowing for a steady stream of income

5. Crypto.com: Earn Upto 15% APY

Crypto.com is primarily a cryptocurrency exchange that offers a variety of services including staking, loans, borrowing, lending, and low fees transactions. 

In a word, once you’ve deposited your virtual currencies, Crypto.com will use the proceeds to give loans to account holders who need money. After that, the end-borrower will refund the cash plus interest, which you will get daily.

The following three holding term choices are available:

• Modular holding period
• 30-day fixed term
• 3.0 month fixed term
• When CRO is locked up, users can benefit from a higher yearly rewards rate.

Key Features of Crypto.com Staking

1. The ability to earn interest on a variety of cryptocurrencies, including Bitcoin, Ethereum, and other popular coins.
2. The ability to earn CRO rewards, which is the native token of the crypto.com platform.
3. Flexible staking options, including the ability to choose the amount of time to stake for and the ability to unstake at any time.
4. No minimum staking amount and no lock-up period.
5. Staking rewards are paid out daily, allowing for compound interest to be earned over time.
6. Staking rewards can be used to pay for trading fees on the crypto.com exchange or to purchase other cryptocurrencies.

Crypto.com Staking: At a Glance

APY	14.5% on cryptocurrencies, 10% p.a. on stablecoins
Staking Thresholds	Depends on the type of cryptocurrencies
Fixed staking	30, 90 days, or flexible staking
security	High security with zero staking fees
Additional Rewards	Using native token CR0
Payouts	7 days

6. Coinbase

There are plenty more methods than before to earn incentives for holding digital assets, educating about virtual currencies, or interacting with decentralized finance (or Defi) applications as the crypto economy expands and advances.

The majority of these options are accessible directly from the Coinbase app or website.

Coinbase Earn is the simplest method to start earning incentives on Cryptocurrencies.

Participants have earned hundreds of millions of dollars in bitcoin such as BAT, Solana, Luna, Ethereum 2.0, Litecoin, GRT, etc.

You can earn crypto in coinbase by learning and reading articles on the coinbase blog.

key Features of Coinbase Earn

Staking and Defi yield are Three of the most popular ways to generate yield that Coinbase offers.

1. Staking Yield: You will earn fixed-term staking rewards depending on the number of assets.
2. Defi Yield: In this Defi staking, you will lend your crypto holding to third-party apps and receive rewards in return.
3. Cloud Staking: A dependable, enterprise-grade liquid staking solution is made available by Coinbase Cloud in partnership with Alluvial.

Pros and Cons of Coinbase Staking

Pros	Cons
Earn rewards through staking.	Staking is centralized, relying on a single platform.
Easy to use platform.	Some staking options may have a lockup period.
Passive income stream.	Limited staking options.
Secure platform.	Fees may be charged for staking.
Supports multiple cryptocurrencies.

7. eToro

Staking with eToro is a mechanism that enables members to earn incentives just by holding approved cryptocurrencies. The staking procedure is carried out by eToro at the request of its subscribers. T

he incentives are more of these digital currencies, implying that users’ cryptocurrency holdings grow in a manner analogous to how a person earns interest on money.

The market’s most lucrative staking incentives are offered by eToro, starting at a baseline of 75% of the staking return. A tiny portion of the revenue is retained by eToro as a charge in addition to covering associated operational, financial, and legal expenses.

Within 14 days of the next month, staking incentives will be given out for that month. The user is not required to take any action.

If a user has an open position in the staked crypto asset for a predetermined amount of time, they are eligible for a staking payment. Depending on the blockchain of the particular crypto asset and how long it takes for it to be added to the staking pool, each crypto asset has a different eligibility period.

Key Features of eToro Staking

• Earn rewards: By staking eligible cryptocurrencies, users can earn a return on their holdings in the form of additional coins or tokens.
• Stake multiple coins: The program supports staking for multiple cryptocurrencies, including popular coins like Bitcoin and Ethereum.
• Flexible staking: Users can choose to stake their coins for a specific period of time, or stake them indefinitely.
• Easy to use: The staking process is simple and can be done directly from the user’s eToro account.
• Additional benefits: eToro users can also earn rewards by participating in the platform’s social trading features and by referring other users to the platform.

Pros and cons of eToro

Pros	Cons
Higher staking rewards.	Staking is not without risk.
Flexible staking options with no lockup period.	Limited staking options.
Choice of a wide range of cryptocurrencies.	Kraken may charge fees for staking.
Secure platform.	Staking is centralized, relying on a single platform.
Additional benefits such as automatic compounding of rewards and staking from hardware wallets.

8. Kraken

Staking incentives on Kraken are offered for only 15 digital assets and may be as high as 23% APY, making it the best among some of the platforms analyzed by me. 

The Exchange also receives good scores for its liquidity. To receive rewards, you don’t have to stake your bitcoin for a certain amount of time, however the longer you stake, the more you earn.

Based on the virtual currency used, rewards are delivered either once or twice a week.

Pros & Cons of Kraken Staking

pros	Cons
High Staking rewards up to 30%	Centralized
Trustable	small fees
fast redeem
weekly staking rewards

9: Bybit

Bybit’s staking program allows users to stake several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Polkadot (DOT), among others. Users can choose to stake their assets for a specific period, typically ranging from 14 to 30 days, depending on the asset.

The rewards for staking on Bybit vary depending on the asset and the staking period. For example, the annual percentage yield (APY) for staking BTC for 14 days can range from 0.5% to 1.5%, while staking ADA for 30 days can earn an APY of up to 10%.

There is no minimum quantity of cryptocurrency needed to stake on Bybit, and there are no transfer or redemption costs associated with staking, unlike other staking solutions.

Pros & Cons of Bybit Staking

Pros	Cons
Zero gas fees	Centralized
No minimum amount	not all coins are supported
Redeem your assets any time	less APY
High funds security

What are APY and APR in Staking?

APY (Annual Percentage Yield) and APR (Annual Percentage Rate) are both ways to measure the performance of an investment over time.

APY is a metric that is commonly used to measure the returns on a staking investment. It takes into account the interest earned on an investment, as well as any compounding that occurs over time.

For example, if you stake a token for a year and earn a 10% return, the APY would be 10%.

APR, on the other hand, is a metric that is most commonly used to measure the cost of borrowing, such as credit card or loan interest.

APR reflects the annual cost of borrowing, expressed as a percentage of the loan amount. It includes the interest rate and any additional fees or charges associated with the loan.

Staking Vs Mining: Comparison

PoS	PoW
Users lock crypto for network security	Miners solve complicated mathematical algorithms
Participants create blocks by staking assets	The first miner to solve the puzzle will add a block
Required less energy	Required more energy
More rewards	Fewer rewards
profitable	Not every mining is profitable (depending on difficulty)

What is Ethereum 2.0 Staking?

The Ethereum network has undergone an update called Ethereum 2 (ETH2) that seeks to increase scalability and security. With this update, Ethereum’s mining model (Proof-of-Work) will change to a staking model (Proof-of-Stake).

As a reward for assisting with network security, you are eligible to get yield on any ETH that you stake. According to the amount of verified ETH and the incentives the network is giving at any given time, ETH staking rewards are delivered.

The protocol payouts will be greater when there is very little ETH staked as a motivator for more ETH to come online. The payoff decreases as more and more ETH is staked.

Tax on crypto Staking rewards

Many U.S. investors have concerns regarding staking incentives in light of Ethereum’s historic switch to proof-of-stake and the fact that many large exchanges provide custodial staking options (such as ETH yearly percent staking payouts as high as 4-5%).

The Internal Revenue Service tends to regard staking as taxable based on the following criteria, while there is no formal guidance on how it should be taxed:

• If staking qualifies as a “trade or business,” net income is classified as regular income and may be liable to self-employment tax.
• The tax associated with staking can be deducted from Fair market value (FMV), which is viewed as the overall revenue from wagering (such as the costs of running a dedicated node).
• In many cases, the receiver will classify the units as capital assets, which will likely result in a favorable tax rate when the units are later sold.

Cryptocurrency Staking: The Complete Beginners Guide

What is Staking?

Staking is derived from the PoS (Proof-of-Stake) method, which is employed by a distributed blockchain network that allows cryptocurrency miners to mine or verify block operations based on the number of tokens they have.

They have more mining power the more tokens they have.

Users who hold digital assets and assign their voting power to stake pools receive the staking benefits. The more assessments a staking pool is allocated, the better its chances of being voted to generate the next block and receiving greater rewards.

Centralized exchanges also offer staking divided mainly into two parts, locked staking, and Defi savings.

Locked staking provides a high yield in return, and also includes fixed staking terms like 10-day, 30-day, 60-day, etc.

Let’s take an example of Binance staking offers-

Binance staking offers 39.8% APY currently for a 10-day stake in DEXE and many other coins. you also have options for 30 and 60-day terms.

What is Proof of Stake?

Proof of Stake, a novel consensus technique, has arisen intending to enhance effectiveness and quality while decreasing fees.

Proof of Stake lowers costs by removing the need for all those miners to go through arithmetic operations, which is a time-consuming and energy-intensive operation.

Instead, transactions are verified by those who have staked their money on the blockchain.

How does Cryptocurrency Staking Work?

Crypto staking is the practice of locking up part of your virtual currency to assist a proof-of-stake blockchain in executing secure and convenient transactions.

for Example-

• You want to stake $1000 worth of Solana on the Binance staking platform
• APY = 120% for 90 days lockup period
• In one year, you will earn $1200 as a staking reward
• hence, for your 3 months lockup period, you will earn $300 worth of Solana.

Benefits of Crypto Staking

If you are an intraday trader, crypto staking is not for you. Staking rewards can be beneficial in many ways-

• Earn passive income on your crypto holdings
• Increases particular blockchain security
• More staking means lesser volatility of the network
• Compound Interest benefits

Types of crypto Staking

1. On-Chain Staking

Another thing to consider when it comes to crypto staking is whether you’ll start the procedure on-chain or off-chain. On-chain staking is perhaps the best that involves staking your assets directly on the individual public blockchain.

As we briefly mentioned before, this generally entails downloading the complete network ledger to your laptop device and connecting to a node using a compatible wallet.

On-chain staking is best left to people with an advanced understanding of digital currencies, even though it allows you to interact directly with the blockchain.

2. Of-Chain Staking

If you’re a total newbie who wants to keep things simple, though, you’ll be best off using an off-chain staking service. All of the finest staking systems we examined above offer off-chain stakings, so you don’t need any prior knowledge to get started.

FAQ

Conclusion

Staking is seen by crypto investors as a method to make their assets work for them by creating profits rather than accumulating dust in their accounts.

It also contributes to the security and effectiveness of the crypto assets you support. By Staking a portion of your assets, you increase the blockchain’s capacity to withstand cyberattacks and conduct transactions.

Many “best crypto staking platforms” also provide staking players “governance tokens,” which allow them a say in future protocol updates and upgrades.