Best Crypto Staking Platforms – Top 5 Crypto Staking Sites Compared

Proof-of-stake (PoS) blockchains have been generating much buzz in the last few years for several reasons. This includes Some of these border on the algorithm’s more temperate energy demands and the cost differential between it and ancient consensus algorithms like proof-of-work (PoW) favored by Bitcoin.

However, one of the lesser talked about benefits of using PoS-based blockchains is crypto staking. The sub-sector boasts of over $82 billion in total value locked (TVL), with several more investors coming into the space. Crypto staking has played a role in the wholesome embrace of DeFi, and as of January 2021, over $23 billion worth of digital assets were invested in several crypto staking sites.

With the huge market demand, it is only justifiable that we present the best crypto staking sites where you can turn a reasonable profit from just putting your crypto holdings to work.

#1 Crypto Staking Site – eToro

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Best Crypto Staking Sites – Quick Pick

Here’s our list of the top five best crypto staking sites to sign up on.

  1. eToro – Overall Best Crypto Staking Sites in 2021
  2. Binance – Top Staking Platform With Large Staking Crypto Repository
  3. Coinbase – Best US Platform For Staking Crypto
  4. Kucoin – Great Platform For Staking Crypto
  5. Poloniex – Good Platform For Crypto Staking

What is Staking Crypto?

In simple terms, staking crypto is a great way to generate passive income by locking up or holding your crypto asset in a cryptocurrency wallet for a specified time. This sees you support transactions as a designated validator and strengthen the underlying blockchain network.

The blockchain platform incentivizes stakers by rewarding them with more digital tokens based on how many “coins” they locked up. Some of these returns are in thousands which can be a cool way of making money without bothering yourself on trading or mining cryptocurrencies.

Staking crypto can be very difficult if you decide to go rodeo as you will need to have the technical know-how and run validator nodes. However, several crypto staking sites now offer an easy route to make passive income on your crypto holdings, and we review the best crypto staking platforms below, starting with our top pick, eToro.

5 Best Crypto Staking Platforms

1. eToro – Overall Best Crypto Staking Platform in 2021

eToro staking

eToro is our No 1 pick for the best crypto staking platforms to sign up on. The platform is quite popular in the financial space where it serves over 20 million users worldwide. The social trading platform has evolved with the times adding support for cryptocurrencies following popular demand from investors. Aside from enabling users to invest in cryptocurrencies, eToro also offers users a way to generate passive income by just holding and staking their digital assets.

The platform offers world-class staking crypto services, addressing popular pain points such as security concerns, enabling users to generate high interests and do so in a hassle-free manner. eToro pays users rewards every month without completing any other task aside from locking up their crypto for a particular period.

As regards security, eToro is one of the safest places to keep your cryptocurrencies. Aside from being regulated by the UK’s FCA, CySEC, ASIC, and FinCEN, eToro is also supervised by the Guernsey Financial Services Commission (GFSC). This ensures that your crypto holdings and personal details are safe.

Per supported cryptocurrencies, you can stake crypto of two different digital assets, including Cardano (ADA) and Tron (TRX). eToro offers a dynamic reward system based on an investors’ staking ability.

Users are rewarded based on their eToro club membership as they receive earnings commensurate to their percentage yield. Presently, there is bronze, silver, gold, platinum, and platinum+ memberships.

Platinum+ members keep more of their monthly staking yield, retaining 90% of their yields from their staked crypto holdings. eToro is one of the most reliable crypto staking platforms, and we strongly recommend using the platform to increase your earnings.

Pros

  • Heavily regulated by top bodies
  • User-friendly and easy-to-use
  • High paying rewards for staking crypto
  • Offers support for multiple asset class
  • Home to over 20 million users globally
  • Top-performer in the social trading niche

Cons

  • Supports only two digital assets for now

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. Binance – Top Staking Crypto Platform With Large Repository

Binance Staking - best crypto staking sites

Binance is the world’s largest crypto exchange by trading volume and one of the best crypto staking sites to generate passive income. Although the Bitcoin exchange only started in 2017, it has built a reputation as a top destination for everything crypto and is a well-proven and time-tested financial services provider in the blockchain space.

Binance has fleshed out an entire ecosystem, temporarily offering tokenized securities of popular stocks like Tesla and Coinbase before discontinuing the program.

To help users make more money, Binance introduced the Binance Earn program, where a flurry of income-generating services is on offer.

Users can choose between a flexible savings plan and a fixed or locked savings plan. Broken down further, there are guaranteed savings and high-yield yet high risks savings. Users can also participate directly in DeFi staking like Eth 2.0 staking.

As per percentages, this varies greatly depending on the digital asset you choose to stake on. However, we have noticed that newer crypto assets generate higher returns than established crypto brands like Bitcoin, BNB, and ETH.

For instance, Binance pays 45.79% for popular gaming token CHR while it rewards users 8.29% for Binance Coin in DeFi staking. Binance has the largest pool of digital assets for staking crypto, with hundreds of large and small-cap cryptocurrencies with hundreds spread across the platform’s several staking pools.

Most popular cryptocurrencies and altcoins are supported on the Binance exchange You can stake as much as 100 different digital assets on the Binance platform.

In terms of security, Binance is one of the safest crypto staking platform you can come across. User funds are protected by the Secure Asset Fund for Users (SAFU), and 10% of all trading fees on the crypto exchange are used as insurance coverage in the event of a major hack.

Pros

  • Large pool for staking crypto
  • Multiple earnings on offer with varying interests rate
  • Secure crypto staking sites
  • Insurance coverage for user funds

Cons

  • Not regulated
  • Varying interests for digital assets

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. Coinbase – Best Staking Crypto Platform USA

best crypto staking site

Coinbase is a top US crypto exchange that went public this year. The Bitcoin exchange founded in 2012 by Brian Armstrong has played a pivotal role in the growing mass adoption of cryptocurrencies. Its public listing was seen as a triumph for the emerging industry.

Coinbase allows US crypto investors to trade cryptocurrencies through its highly intuitive and user-friendly platform.
Like several best crypto staking sites we have reviewed previously, Coinbase offers a means for users to generate extra income by just holding their cryptocurrencies via staking.

The exchange helps users run nodes, sync them to the blockchain and meet the volume margin for staking. It enables users to sit back and earn rewards proportional to the number of coins they have staked.

However, only a few cryptocurrencies are eligible for staking on the platform for now. These include Algorand, Cosmos, Ethereum, Dai, USDC, and Tezos.

The annual percentage yield (APY) is split, with Ethereum and Cosmos’ 5% APY being the largest. Tezos is next with 4.63%, Algorand with 4%, Dai with 2%, and you will earn 0.15% for staking your USDC stablecoins. Coinbase charges a whopping 25% commission for its staking crypto services, which can erode your gains.

Pros

  • User-friendly and intuitive platform
  • Offers custodial services for large institutions
  • Public company reflecting that it is regulated
  • A good library of eligible crypto up for staking

Cons

  • Expensive staking fees
  • Few crypto assets for staking

67% of all retail investor accounts lose money when trading CFDs with this provider.

4. Kucoin – Great Platform For Staking Crypto

Kucoin staking page

Kucoin was founded in 2017 and has become one of the best crypto staking sites in the world. Kucoin is the sixth largest crypto exchange by trading volume, per crypto data aggregator website Coinmarketcap

Kucoin runs two separate staking programs: the Soft Staking and Pool X. Soft staking allows users to earn daily rewards in suitable cryptocurrencies. Users get to enjoy daily bonuses on the following crypto assets, including ATOM, EOS, TRX, IOST, KSM, and several others.

Pool-X supports over eight cryptocurrencies, including EOS, ATOM, TRX, and TOMO. Also, users get to earn from both staking and proof of liquidity (POL). Interests range from 5% to 19.65%, or approximately 20%. Kucoin charges a minimum of 5% and a maximum of 8% for staking costs.

Pros

  • Multiple staking offerings
  • Earn double daily rewards
  • Large staking pool

Cons

  • Staking fees are too high
  • Interest rates can be improved given the high staking fees.

67% of all retail investor accounts lose money when trading CFDs with this provider.

5. Poloniex – Great Platform For Crypto Staking

Poloneix webpage

Rounding up our top five best crypto staking sites countdown is San Francisco-based cryptocurrency exchange Poloniex. Founded in 2014, Poloniex has established itself as one of the largest Bitcoin exchanges in the world, occupying the sixteenth position. It has a 24-hour trading volume worth over $150 million with a 7.3 trust score.

Poloniex, alongside several others, offers crypto investors an easy means to stake cryptocurrencies while earning rewards. According to its website, Poloniex supports a limited number of digital assets for staking rewards, including TRX, BTT, and WIN.

TRX staking is feeless, and you get 100% of the staking reward without paying anything in fees. However, you need to stake up 100 TRX. BTT and WIN will generate you 8-10%. The added bonus is that there are no lock-up periods, meaning you get to trade these crypto-assets while they are generating returns for you.

Pros

  • Feeless staking
  • High staking rewards

Cons

  • Supports only three cryptos for staking

67% of all retail investor accounts lose money when trading CFDs with this provider.

Best Crypto Staking Platform Compared

We have highlighted a few key areas for comparing the best crypto staking platforms below.

Platform Number of eligible assets Fees Interest rates (max)
eToro 2 Low 90%
Binance 100+ Nil Varies
Coinbase 6 25% 5%
Kucoin 25 8% 19.65%
Poloniex 4 25% Varies

How to Use the Best Crypto Staking Platform

In our review, we have recommended that you begin your staking journey with eToro. In this section, we will show you step-by-step how to get started.

1. Open an Account

eToro open account

Navigate to the eToro website and click on the ‘Join Now’ button to sign up. You will need to provide a valid email address, username, and password. You can also fast-track the process by connecting your Google or Facebook account.

2. Verify ID

eToro verify

The next step is to verify your identity by completing eToro’s know-your-customer (KYC) process. You will need to upload a copy of your driver’s license or official passport and proof of residence. A recent bank statement or utility bill should do. Once this is complete, your documents will be verified, and you can proceed to the next step.

3. Deposit Funds

eToro deposit

You can get started by depositing $50 for US residents and $200 for other countries. You will also pay a 0.5% conversion fee to denominate your fiat currency to dollars.

You can pay using any of the following payment methods:
· Bank transfer
· Debit card
· Credit card
· PayPal

4. Start Staking

Once your deposit is confirmed, you can begin your staking journey. To do this, click on the search bar and type in the crypto asset you want to stake. Click on the first results that pop up and follow the listed instructions.

Which Platform is Best For You?

It can be very difficult to choose which platform to use when you want to stake crypto if you are just starting. However, we have highlighted a few factors you should consider before settling with any staking platform.

1. Is it Regulated?

A regulated entity is a huge sign that the staking platform is genuine and recognized by government agencies. Some of the top regulated bodies you should look out for in a staking platform’s regulatory page are the FCA, SEC, FinCEN, FINRA, CySEC, and ASIC. This shows that they are not going to pack up one day and run away with your funds.

2. Fees

A low-cost staking platform means you get to earn more from your investment. A high taxing staking platform ultimately erodes your capital and gains. In this aspect, eToro is one of the best crypto staking sites, given its low fees compared to others that charge as high as 25%.

3. User-friendliness

If you choose any random crypto staking platform, you may run into some challenges. Staking crypto, in itself, is a highly complex process. So, you should lookout for a platform that takes out the complexity and enables just about anyone to begin staking crypto with just a few clicks.

4. Great Customer Support

No matter how intuitive a staking platform may be, there will still be some grey areas. This is where great customer support comes into play. If you have challenges using a platform, you will need the development team’s expertise to help you navigate through the issue. A platform that does not invest in its customer support is a red flag. Stay away from such.

5. Multiple Payment Methods

Multiple payment methods mean you are covered in all angles. If you are on the lookout for a staking platform, payment options should feature in your list of criteria. A staking platform with a limited payment channel may see you pay more in deposit and withdrawal fees if you want to stake with them. Debit cards should be one of the payment methods to instantly lookout for, given the relative ease and how inexpensive transactions are.

Conclusion on the Best Crypto Staking Site

We have highlighted five top crypto staking sites that you can use as the world embraces cryptocurrencies. We have shown each platform’s pros and cons and the number of digital assets that currently generate extra income for users.

However, we recommend using the eToro platform due to its high yield, low cost, and user-friendly staking process. Also, you get the added bonus of knowing that it is heavily regulated by tier-1 bodies like the UK’s FCA.

To get started, click the link below.

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.