Best places to stake Injective Protocol

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Where to stake Injective Protocol tokens and earn passive income? In this guide an exclusive view on the best places to stake INJ crypto!

Over the past decade, we have witnessed the rise of cryptocurrencies and decentralized networks. Also, you may have experienced high volatility which is second nature for these very young assets. From an investor’s perspective, this was a good reason to avoid these very risky markets.

As a result, the Ethereum blockchain introduced a new way for investors to earn a passive income by holding coins. Moreover, this is a very popular concept that attracts a lot of new investors trying to earn passive income with the cryptocurrency markets. Imagine, just the idea of earning additional cryptos on your bags altogether with high yields makes them willing to take the step into this new industry.

The concept I’m talking about is called staking which in short allows cryptocurrency holders to earn additional cryptocurrency with low risk.

On top of that, there is Injective staking. Simply a phenomenal way to generate yield on idle coins. To earn interest, all you need to do is deposit your tokens. This guide on the best places to stake Injective Protocol will explore the easiest ways to stake INJ in any country you reside in.

Best Places To Stake Injective Protocol(INJ)

  • Binance (Best exchange for beginners)
  • Kucoin(Another mainstream exchange, for USA & EU)
  • Trust Wallet(Best Web3 wallet)
  • Atomic Wallet(Multicoin software wallet)
  • Ledger Nano(Most secure hardware wallet)

In short, the options mentioned above are a quick take. Later on in this guide, I’ll share more details (APY, levels) for each platform or wallet that offers you to stake Injective Protocol.

What is Injective Protocol and what makes INJ Token unique?

In short, Injective is an open, interoperable smart contracts-enabled blockchain optimized for DeFi applications. Moreover, DeFi applications run autonomously on the blockchain where you can connect to them with a Web3 wallet(e.g. Trust Wallet). The protocol focuses mainly on finance solutions and trading.

In addition, the Injective ecosystem includes 100+ projects and over 150,000 community members globally. Injective is backed by a group of prominent investors such as Binance, Pantera Capital, Jump Crypto, and Mark Cuban.

Injective provides the most advanced, next-generation financial infrastructure for building DeFi applications on top of the Injective blockchain. Users can access these applications in a fully decentralized, fast, cross-chain, low-fee, and secure manner.

Entire map of the Injective Ecosystem
Entire map of the Injective Ecosystem

All in all, a modern web3 project that is entirely focused on decentralized finance and backed by a growing community of crypto enthusiasts.

How does Staking Injective work?

In general, staking Injective Protocol(INJ) from a wallet works by delegating your tokens to validators who process transactions and run the network.

Delegating a stake is a shared-risk shared-reward financial model that may provide returns to holders of tokens delegated for a long period. This is achieved by aligning the financial incentives of the token-holders (delegators) and the validators to whom they delegate.

Additionally, the returns or yield for staked tokens is based on the current inflation rate, the total number of INJ staked on the network, and an individual validator’s uptime and commission (fee).

Ultimately, no specific technical expertise or investment in costly hardware devices is needed. You just simply lock up your INJ coins in a wallet and get rewarded while you sleep! 😄

Best Platforms to Stake Injective: Comparison

To continue, this comparison guide provides an overview of where to stake Injective Protocol to earn rewards and a passive income. The research is based on assessing the platform’s features, estimated annual yield, staking type, and level(crypto user).

📊Platform💹APRStaking Type☑️Level✔️Rating
Binance14%Flexible+Lockedeasy
Kucoin13%Flexibleeasy
Trust Wallet14.5%Flexiblemedium
Atomic Wallet17%Flexiblemedium
Ledger Nano16%Flexiblehard
*Remember that yields are not fixed and depend on the inflation rate, the total number of staked INJ, and the staking period

Take note that flexible staking allows you to stop or un-stake your coins at any time, where you remain in full control over the funds. Locked staking, instead, transfers your coins to a separate pool where you lock them up for a certain period. When this staking period ends, the coins including additional rewards, will be redeemed and transferred back to your wallet.



Staking Injective(INJ) at Cryptocurrency Exchanges

If you already have an account at Binance or Kucoin and practice some cryptocurrency trading already, then the easiest way would be to start staking INJ there. Below I’ll explain the options you have for staking Injective Protocol on the most popular exchanges in the world.

Binance

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 services, and earning rewards with staking.

Trading a Binance can be done with almost zero fees(0.075%) when using this link when signing up. It will give you an additional 10% discount on fees for life 🙂

At the time of writing, Binance offers 50(+) staking products such as INJ for its users to enjoy free staking rewards by simply depositing and holding coins on Binance. Moreover, there are no fees involved when staking INJ tokens on Binance.

Staking Injective(INJ) on Binance
Staking Injective(INJ) on Binance

POS staking INJ at Binance

Locking periodAPR
Flexible0.96%
Locked(30- days)7.90%
Locked(60 – days)11.90%
Locked(90 – days)13.90%

Steps to Start Staking Injective on Binance

To start with staking Injective(INJ) at Binance, follow these steps:

  • Create a free account at Binance
  • Navigate to ‘EARN’ at the top menu and choose ‘Binance Earn
  • Enter INJ in the Dropdownlist(just below ‘Binance Earn‘ header)
  • If you don’t have INJ funds in your wallet ‘Market buy’ some or deposit
  • Click ‘Subscribe’ button and store INJ tokens here

Kucoin

Compared with Binance described above, Kucoin is probably a modern platform that allows crypto trading for US & EU residents. 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 within the top 10 of biggest crypto exchanges worldwide. Moreover, this ranking 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.

Spot trading cryptos can be done at a fee of 0.1% and it is also important to note that withdrawals from the platform can be done at zero fees.

Staking cryptocurrencies is also possible under the ‘Staking’ feature. Moreover, Kucoin allows its users to stake in 32 different cryptocurrencies. Additionally, staking INJ can be done with the ‘Flexible staking‘ feature. Meaning, you can release your coins anytime if you need them back. But remember that there is a ‘Redemption period‘ of 21 days before your coins(including rewards) arrive back in your exchange wallet.

INJ staking at Kucoin
INJ staking at Kucoin

How to Stake Injective at Kucoin

To start staking INJ at Kucoin follow the following steps:

  • Create a free account at Kucoin
  • Deposit some INJ coins or market buy them
  • Go to Dashboard and click the Staking feature
  • Find INJ in the list and choose to subscribe

Staking Injective Protocol From Crypto Wallets

Next, some good alternatives in places where you can stake Injective Protocol. Maybe you are already an advanced crypto user and willing to take some extra risk with these coins.

Trust Wallet

Trust Wallet is a popular decentralized cryptocurrency wallet that allows users to store, send, and receive various cryptocurrencies securely. One of the key features of Trust Wallet is its ability to swap tokens directly within the app. This means that users can easily exchange one cryptocurrency for another without the need for a third-party exchange.

Unlike custodial wallets like Binance, where users have to trust the exchange to hold and manage their funds, Trust Wallet operates on a non-custodial model, giving users complete control over their assets.

Finally, besides sending and receiving tokens, Trust Wallet also allows its users to stake cryptocurrencies like the Injective Protocol(INJ).

Staking Injective on Trust Wallet
Staking Injective on Trust Wallet

How to Start Staking on Trust Wallet

  1. Visit the Trust Wallet website, start downloading, and install
  2. Start purchasing INJ or deposit INJ here
  3. Click on ‘Staking’ in the menu, scroll to find INJ, and click ‘Stake
  4. Transfer the amount here

Atomic Wallet

Atomic Wallet is a decentralized online cryptocurrency wallet available on desktop and mobile devices that supports more than 1000 coins and tokens. The wallet is suited to crypto investors of all experiences and provides a simple, safe, and convenient means to store digital assets.

Besides staking from the wallet, users can also purchase new crypto because Atomic Wallet uses a built-in exchange feature. This feature uses a third party(Changelly) so buying comes at a cost: 2% additional fees at a minimum of $10 each.

All in all, Atomic Wallet supports staking for 25(+) different coins and Injective(INJ) is one of this list. The annual ROI for staking Injective on Atomic is 17% which is the highest in the entire market.

Staking INJ with Atomic Wallet
Staking INJ with Atomic Wallet

How to Start Staking Injective(INJ) on Atomic Wallet

  1. Visit the Atomic Wallet website, start downloading, and install
  2. Start purchasing INJ or deposit INJ here
  3. Click on ‘Staking’ in the menu, scroll to find INJ, and click ‘Stake
  4. Transfer the amount here

Ledger Nano Hardware Wallet

If you favor being in full control of your own cryptos then the Ledger Nano hardware wallet should be it. Particularly, the Ledger Nano wallet is a USB storage wallet with Bluetooth connectivity available. However, this option isn’t free, as a Ledger Nano X costs about $149,-.

Also, this way it’s possible to store your cryptocurrencies offline which is the most secure option. Furthermore, the wallet enables users to perform a wide variety of functions, including sending and receiving Bitcoin from blockchains or running third-party apps on the device.

Besides staking from the wallet, users can also purchase new crypto because of Ledger wallet uses a built-in exchange feature. This feature uses a third party(Coinify) so buying comes at a cost: 4.5% credit card fees or 1.7% for bank transfers.

Example of Ledger Nano X(Black color)
Example of Ledger Nano X(Black color)

How To Stake Injective with Ledger Nano

To start staking INJ with the Ledger is a two-step approach. First, you have to install and set up the Ledger device and make sure that the INJ tokens are locked down there.

Next, to set up Injective staking you have to go to the Injective website(Hub Injective) and connect to a staking validator node. Below are the steps you have to take for this:

  1. Go to Injective.com
  2. Navigate to individuals and click on Staking INJ
  3. You’ll be redirected to the INJ staking website
  4. Click on Connect button on the page
  5. Choose Ledger from the list of options and click on it
  6. Choose a derivation path and click on Get addresses
  7. Connect your Ledger device and unlock it
  8. Open your Ethereum app: wait till it displays that the application is ready
  9. Finally, choose and connect to a validator in the list

Ultimately, If you want more details on how to connect your Ledger device to the Injective Hub, read this helpful guide.

Conclusion: Is Staking Injective Worth It?

Staking Injective is currently a very popular method among crypto enthusiasts to generate passive INJ income with zero risks. In this guide in which I covered where to stake Injective Token in greater detail, I also compared the different platforms in terms of rewards and lock-up periods.

Staking INJ will generate new ones. Moreover, this crypto coin is a rising asset in terms of value where even holding a small amount can make a difference in the long run.

All in all, whatever option you decide to choose, staking INJ is a perfect solution for you to earn additional cryptocurrency while you sleep.

Related: How To Trade Injective Protocol(Buying and Selling INJ)

FAQ: Best Places To Stake Injective Protocol

What Is The Unstake Period for Injective?

This Unstake Period means that there is a waiting period of 21 days after you decide to release your INJ tokens from the staking wallet. This unstake-period is a constant variable in the protocol and works on all different platforms the same(Binance, Kucoin, or Trust Wallet).

How Does Injective Staking Work?

In short, Injective follows a proof-of-stake mechanism, in which users can stake their tokens to certain Injective validators. Additionally, they will do the work of validating transactions, while the user reaps the benefit through only contributing assets.


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