The 7 Best Crypto Coins For Staking

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Staking has become an extremely popular feature offered by a variety of different crypto platforms. Considering the benefits, this is really no surprise.

Earning rewards while making blockchains more secure can be a win-win for the user and the platform. But you can’t bet all the coins, and some offer better bet rewards than others.

So what are the best coins for staking?

1. Ethereum (ETH)

You’ve probably heard of Ethereum before. It is the most valuable altcoin and the second most valuable cryptocurrency after Bitcoin. You can buy and sell Ethereum on a wide range of exchanges, and you can stake it as well.

However, unlike many other cryptos, Ethereum independently staking is not for newbies to the market. You must be able to wager, and therefore own, 32 ETH to become an independent validator. Currently, that is close to $ 130,000, which is no small feat. This is the 32 ETH rule, but you can get around it.

If you don’t have 32 ETH, you can join a staking pool, where many users can collaborate and each stake a smaller amount of their own ETH. Several exchanges offer optional staking pools, so this is worth considering if you want to bet ETH without putting in a large amount.

So why is ETH so ideal for staking? First, a wide range of popular exchanges offer Ethereum staking. This includes Coinbase, Kraken, Binance, and Bitfinex. It is always worth betting on a more reputable platform, as they are generally more secure and can offer higher rewards.

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Additionally, Ethereum staking on certain exchanges can generate healthy income. While this is often subject to change, you can find rewards ranging from 4% to 10% per year, depending on the platform you choose.

2. Polkadot (DOT) via Slot Auctions Image credit: Web3 Foundation / Wikimedia Commons

The process of getting rewards through your DOT is a bit different from other cryptos on this list, as you do through slot auctions. Slot auctions involve lending your DOT to projects in the Polkadot network so that they can become parachaines by bidding in an auction. Parachaines are independent chains that work in parallel with the Polkadot blockchain. If your chosen project wins, they usually reward you with their native token.

Several exchanges allow you to participate in DOT slots auctions, including Binance, Huobi, and Kraken. The advantage of these auctions is that you can earn rewards by supporting other projects and giving them a chance to become a parachaine. And, if the project you chose loses, you will always get back all the funds you loaned.

3. Tezos (XTZ)

Tezos is another popular cryptocurrency that you can bet on a wide range of reputable exchanges, such as Binance and Kraken. You can also stake it using various software and hardware wallets, such as Ledger and Exodus.

Related: The Best Places to Stake Tezos (XTZ)

So why Tezos for staking? Aside from its variety of staking platforms available, you generally don’t need a lot of Tezos to stake out. Most platforms ask for a minimum of around an XTZ or less, making Tezos staking accessible to almost anyone. On top of that, there are some nice rewards on offer for Tezos staking.

Rewards are subject to fluctuation, but you can usually earn between 4% and 8.5% depending on what platform you are using and how long you wager your XTZ.

4. Cardano (ADA) Image Credit: Cardano Foundation / Wikimedia Commons

Cardano might not be an extremely valuable coin right now, but it is certainly popular, with a 24-hour trading volume of nearly $ 1.5 billion. You can bet ADA on platforms like Bitfinex, Yoroi, and Kraken. So why bet on ADA?

First, you usually don’t need a lot of ADA for staking. ADA is very affordable to buy, with a current value of around $ 1.30. Most platforms set low minimum requirements, which makes Cardano staking an open door for almost anyone. On top of that, the rewards aren’t too bad either. Currently, the largest platforms offer annual rewards of between 3% and 6%. However, this may differ on some exchanges, like Binance, if you bet your ADA for longer periods.

5. Algorand (ALGO) Image credit: Bartalemini / Wikimedia Commons

Like Cardano, Algorand is a very affordable cryptocurrency that you can bet on a variety of exchanges and wallets. These include Coinbase, Exodus, and Trust Wallet. You will have a good selection of platforms to choose from if you want to stake your ALGO.

The number of ALGOs you need to start staking differs depending on which platform you choose. Even higher minimum requirements, such as those spelled out by Binance, will cost you no more than a few hundred dollars. So if you are in the market for this type of purchase, or if you already have a considerable amount of ALGO, staking shouldn’t be a problem.

Most of the reputable platforms offer decent reward rates which usually range between 3% and 10%, although these can change.

6. Polygon (MATIC)

Polygon is another great option for staking. There are several platforms you can stake your MATIC on, including Gemini, KuCoin, and FTX. Polygon is currently very affordable to buy, so you won’t need to spend the money to wager a decent amount of it.

Related: What Is Cold Staking & Is It Better Than Online Staking?

Additionally, many exchanges and wallets offer healthy annual rewards for MATIC staking. For example, you can earn 10% APY by staking your MATIC on KuCoin, a popular crypto exchange platform. However, these prices change depending on the state of the market and the platform chosen.

7. Cosmos (ATOM) Image credit: Interchain Foundation / Wikimedia Commons

You can bet on Cosmos in a number of ways: through an exchange, a software wallet, or a hardware wallet. While ATOM is a bit more expensive than some of the parts on this list, it’s by no means unaffordable. Most people can play it.

You can earn between 5% and 10% rewards for staking Cosmos, and you will usually only need a very small amount of ATOM to begin the staking process. This is a great option for staking and can earn you a good side income.

Staking is a great way to passively win

If you have a crypto pot lying around or want to invest for the long term, staking is a great way to earn rewards or earn extra income without having to sell a single coin. So if you’re interested, consider betting any of the above coins, on a reliable platform, for some nice rewards.

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About the author Katie Rees (135 published articles)

Katie is a writer at MUO and has experience writing travel and mental health content. She is particularly interested in Samsung and has therefore chosen to focus on Android in her position at MUO. She has written pieces for IMNOTABARISTA, Tourmeric and Vocal in the past, including one of her favorite pieces about staying positive and strong through tough times, which can be found at the link above. Outside of her professional life, Katie enjoys growing plants, cooking, and practicing yoga.

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