What is the best crypto staking platform? This guide covers a very detailed research of 9 crypto exchanges for staking that also offer other services like earning interest.
Passive income was and still is a very popular strategy to become rich and is being used by many investors globally for the last centuries. Additionally, there were many ways to generate a passive income that is still available today. However, there are new options that are growing and expanding in the cryptocurrency market.
One concept is called cryptocurrency staking which in short allows cryptocurrency holders to earn additional cryptocurrency with low risk. At the time of writing, staking crypto has become a serious business and many popular crypto platforms are offering staking services to their clients.
Therefore, in this guide, I’m going to discuss the 9 best crypto exchanges for staking from just within a few clicks. In addition, it’s very simple, where you hold cryptocurrency and earn new crypto’s over these holdings 🙂
Best Crypto Exchanges for Staking: Comparison
Below is the table, which gives you an indication of the best platforms for staking cryptocurrency. Also, these platforms are chosen based on reliability, fees, and quality of services.
|📊Platform||💰Staking Fees||🔥Best offer||✔️Rating|
|Binance||0%||BNB – 8.69%|
|Coinbase||25%||ATOM – 5%|
|Kraken||15%(ETH only!)||DOT – 12%|
|Kucoin||8%||KCS – 7.5%|
|FTX||0%||SRM – 8%|
|Bitfinex||0%||ETH2 – 10%|
|Okex||0.%||NU – 20%|
|Poloniex||25%||TRX – 9%|
|Cexio||0%||ZIL – 16%|
How does crypto staking on exchanges work?
In general, staking crypto on exchanges is a very easy exercise. Moreover, it’s as simple as depositing BNB, ETH, ADA, or any other crypto to the ‘staking’ wallet on the platform of your choice.
All this can be done in just a few clicks. Of course, if you’re totally new to cryptocurrency then you have to create an account first. Next, will be depositing fiat currency(USD, EUR) to the platform and buying cryptocurrency before you can actually make crypto work for you!
Another reason why staking cryptocurrency at exchanges is very popular is that you have direct access to the crypto markets. For example, if the markets are doing well and are in an uptrend, you can also decide to start trading the cryptocurrency or sell some of your profits into fiat currency or stablecoins.
Is crypto staking the same as earning interest?
The main difference between staking and earning interest on crypto is that you can earn interest on assets that are otherwise stagnant like stablecoins(USDT or DAI) for example. On the other hand, staking requires your coins to be proof of stake assets with a particular use case(securing the network).
Surprisingly, staking and earning interest on crypto can be done from within your wallet. Additionally, that’s why many crypto exchanges are offering to earn interest on stablecoins besides crypto staking.
9 Best Crypto Platforms for Staking
What are the best crypto staking platforms? Below is more detailed research of 9 top platforms that besides staking also offer other services. All this, to maximize the profit for you within the volatile crypto markets.
Binance: Most options for staking crypto
Based on daily(24h) trading volumes, Binance is the biggest cryptocurrency exchange in the world. Also, it has millions of cryptocurrency traders using its platform on a daily basis. Besides trading, Binance offers several other feature-rich products, including custodian wallets, crypto margin trading, lending service, and earning rewards with staking.
Binance is currently staking several popular cryptocurrencies like Cardano, TOMO, Loom, COSMOS, Stellar, Qtum, Vechain, Algorand, Komodo, Kava, to name a few. On top of that there are 50(+) other cryptocurrencies you can choose to stake at several time intervals(30,60 or 90 days).
The way it works is that you transfer your tokens to this ‘staking’ wallet and lock them up for a specific time period. This method is called ‘Locked staking’. Also, when you lock these coins up for staking Binance will charge zero fees for this activity.
Coinbase: Crypto staking platform for beginners
Another famous crypto exchange for staking is Coinbase. In particular, Coinbase is a USA-based cryptocurrency exchange. Moreover, this San Francisco-based platform was founded in June 2012 and is one of the most popular cryptocurrency companies in the world.
Based on daily trading volumes it’s one of the biggest and most popular exchanges in the world. They also support the instant purchase of several altcoins via Visa/MasterCard credit and debit cards.
If you are a starter in cryptocurrency then Coinbase is a good option because they offer to stake straight from the wallet in some popular coins: Comos(ATOM), Tezos(XTZ), and Algorand(ALGO). Yields are mostly around 5% annually and 25% of the earned interest goes to the platform.
Kraken: Crypto staking for US residents
Kraken is one of the most reliable and safest cryptocurrency exchanges out there and has been around for a while already. Founded in 2011, Kraken is a US-based cryptocurrency trading platform available in 48 US states and 176 countries.
The Kraken platform specializes in offering Bitcoin trading services for the beginner as well as the professional trader. Besides trading in digital assets, it’s also possible to store your crypto in custodian wallets, crypto lending services, and staking cryptocurrencies.
Crypto staking can be done at Kraken in 12 different cryptocurrencies where Solana(SOL), Polkadot(DOT), and Kusama(KSM) are the most popular ones. The way this works is very simple and straightforward: buy the cryptocurrency you want to stake and transfer it to the staking wallet on the exchange.
Finally, Kraken charges no fees for staking, however, there is one exception: Ethereum. Because of the technical specialties of this network Kraken charges 15% administration costs.
Kucoin: Most reliabe and modern platform
Compared with the crypto exchanges above, Kucoin is probably a modern platform for trading any cryptocurrency. In addition, this platform was founded by a group of cryptocurrency enthusiasts from Asia aiming to offer comfort and security to your mighty assets.
As of writing the platform ranks at position 12 on the list of exchanges which is based on trading volume for the past 24 hours. In addition, the platform specializes in offering trading cryptocurrencies, margin trading, trading futures, and also staking cryptos. Is Kucoin one of the best crypto exchanges for staking?
In my opinion, they are, mostly because they are challenging Binance in offering staking services to more than 40 different PoS coins.
The way it works is that you can deposit tokens via the ‘Soft staking’ feature. Soft staking is a very flexible method, however, remember that 8% of the earned profits go to the Kucoin platform.
FTX: Most innovative crypto staking platform
FTX is a brand new crypto trading company that has been growing very fast and is therefore the youngest option on the list. On their website they explain their mission:
‘FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products, and leveraged tokens. We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.‘
Crypto staking can be done at FTX in some different cryptocurrencies where Solana(SOL), Serum(SRM), and Ethereum(ETH) are the most popular ones.
The way this works is very simple and straightforward: buy the cryptocurrency you want to stake and just hold it on the wallet at the exchange.
Bitfinex: Best crypto exchange for ‘Whales’
Bitfinex is one of the oldest cryptocurrency exchanges in the world. The platform was created back in 2012 and since that moment it has been offering trading services to users. The exchange started as a P2P margin and lending platform for Bitcoin (BTC).
Over time, the company decided to add support to other digital assets. Moreover, it is now offering services to 52 different countries and it also allows users to deposit fiat currencies. The firm is headquartered in Hong Kong and it offers trading solutions in different languages, including English, Russian, and Chinese.
The company behind Bitfinex is called iFinex Inc. and it is the founder of Tether (USDT), a very popular stablecoin.
For crypto staking Bitfinex offers soft-staking skills and supports a wide range of cryptocurrencies including EOS, Algorand, Bitcoin, Ripple, NEO, TRON, Tezos, etc. Staking rewards can go up to 10% a year.
All in all, Bitfinex is famous for its strict access policy of a minimal $10000 deposit in fiat or crypto. So if you have a large stack and want passive income, maybe try Bitfinex!
Okex: Best option for Asian residents
Another famous crypto exchange for staking is Okex or Okcoin. Okex is a trading platform specialized in cryptocurrencies and has its headquarters in Beijing. Besides delivering service for Bitcoin exchanges and trades, the platform is also a payroller and lending app for retailers.
Particularly, Okex is part of the bigger Okcoin consortium specialized in online futures trading. In 2018, Okcoin migrated its futures platform with cryptocurrencies which resulted in the Okex platform. One of the big benefits of this Okcoin migration is that Okex has strong liquidity in BTC/USD and LTC/USD trading pairs.
At the time of writing, OKEX offers 50(+) staking products for its users to enjoy free staking rewards by simply depositing and holding coins on their platform. Moreover, there are no fees involved when staking cryptocurrency on OKEX.
Poloniex: Great crypto staking platform
Next, there is Poloniex, a crypto trading platform from the early days that is founded back in 2014. Furthermore, it’s a US-based exchange that became famous for offering crypto trading over the years.
In the past, crypto investors could use the Poloniex platform as a crypto-to-crypto trading platform. As of today this platform has extended its services and can be considered as a one-stop shop for crypto trading.
Additionally, based on daily(24h) trading volumes, Poloniex is still a very large cryptocurrency exchange that offers its services to hundreds of thousands of crypto enthusiasts.
Besides trading, Poloniex offers several other feature-rich products, including custodian wallets, crypto margin trading, lending service, and earning rewards with staking.
CEXIO: Crypto staking exchange for Europeans
Founded in London, UK in 2013, CEX.IO is a multi-functional cryptocurrency exchange that provides multiple financial services. They offer brokerage services as well as a trading platform for users. Also, CEX.io provides users with a wide range of essential features to ensure they can conveniently buy, sell, and trade digital currencies in a trusted and secured environment.
For instance, SEPA transfers on CEX.io are really convenient even for those who possess little knowledge on how to go about it. Deposits are completely free while withdrawal attracts a €1 transaction fee.
Amongst EU citizens trading at this exchange is a good alternative mostly because of its high daily trading volumes where about 70 different altcoins can be traded. Crypto staking is another feature that easily can be practiced from within the exchange wallet.
…and that’s all you need to know about the 9 best crypto exchanges for staking; the safest and easiest way possible! Besides, the 9 crypto exchanges described above are based upon my user experience in the past 6 years and the 24 hours trading volumes. In addition, during this period I have never experienced funds loss or being compromised by any of these platforms. Happy staking or investing!
The following articles might also be a good read for you:
- 7 Reasons Why You Should be Staking Your Crypto
- Top 5 Do’s and Dont’s of Cryptocurrency Wallets
- Stablecoin vs Bitcoin: What Difference do They Make?
- Crypto Lending vs Staking: Which concept generates the most Passive Income?
- 12 Best places to stake Stablecoins(Earn Interest)
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