5 Best Crypto Staking Platforms of 2022

A curated list of the best crypto staking platforms for rates, terms, flexibility, and more.

ALSO CONSIDER: Best crypto exchanges || Best crypto lending platforms

Summary

If you’ve been around the crypto space, you would have read success stories of people who got in early and made a fortune. Or still, of others who keep making a steady income mining cryptocurrency. If you’re wondering if there’s an easier way to earn from crypto, we have good news – you can, through crypto staking platforms.

Today, there are many top crypto staking platforms you can choose from. This article will dig deep into the five best crypto staking platforms. We’ll also consider their top features to help you select the best crypto staking platform in your situation.

What is Staking?

Staking is a process that involves cryptocurrency holders committing digital assets to support a blockchain network and earning passive income in the process. They don’t have to sell their cryptocurrencies.

Staking is comparable to putting your money in a high-yield savings account. Anytime you deposit your money in a savings account, the bank uses that money by typically lending it out to borrowers. As an appreciation for locking up your money with the bank, they give you a small portion of the interest they earned from lending out your money.

In the same way, you stake your digital assets by locking them up to support the blockchain network and help maintain its security. In exchange for locking up your coins, the blockchain rewards you with percentage yields. The returns received from staking are typically higher than the interest offered by traditional banks. Staking is now a popular way of profiting from crypto holdings without getting involved in trading.

Best Crypto Staking Platforms Reviewed

If you’re interested in making crypto wealth from crypto staking platforms, the following is a comprehensive list of the best crypto staking platforms that you can choose from.

Midas.Investments: A leading staking platform currently offering staking services at the highest interest rates for many cryptocurrencies and APY.

Binance: A great staking platform for users seeking high staking rewards offering the highest number of supported coins.

Coinbase: A popular crypto staking platform that’s easy to use that’s highly recommended, especially for beginners.

Kraken: A leading crypto staking platform with attractive yields on digital tokens from the fourth largest crypto exchange.

Uphold: A user-friendly staking platform that offers commission-free trading between cryptocurrencies and other assets.

PlatformReward Rates (APY)
Midas.Investments
Up to 26%Go to site →
Binance
Up to 100+%Go to site →
Coinbase
Up to 5.75%Go to site →
Kraken
Up to 23%Go to site →
Uphold
Up to 19.5%Go to site →

Midas.Investments

Midas.Investments is an upcoming crypto investment platform where you can earn passive income by staking different cryptocurrencies. There’s potential to earn between 7 and 20% return on investment annually. Perhaps what sets the platform apart is its APY rates, and that interest is compounded and added daily. Moreover, users can earn an additional bonus between 2% and 4% if they choose to make their interest to be in the platform’s native coin Midas (MIDAS).

Staking Crypto at Midas.Investments

As one of the upcoming custodial crypto staking platforms, Midas.Investments offers users an opportunity to build a passive income stream. Crypto investors can use more than 50 digital assets to unlock the potential of their idle cryptocurrencies. The platform offers the highest yields on core cryptocurrencies via hedged investment strategies.

Additionally, Midas.Investments also offers users a variety of investment options, including the following:

  • Stable Yield Automated Portfolio (Stable YAP) that pays up to 21% APY paid directly in Bitcoin every seven days.
  • Masternode Yield Automated Portfolio (MnYAP) offers at least 26% APY paid in Bitcoin every Monday.

When you stake your crypto via Midas.Investments, you must transfer your digital assets to the platform. Midas.Investments runs strategies with varying APY values and risk profiles based on the numerous diversification scores.

According to their website, Midas.Investments takes security issues seriously and uses a combined set of measures to ensure users’ funds are safe from any malicious attackers. The platform uses email and IP validation checks as the first line of defense when handling your information.

The platform also uses Two-Factor Authentication (2FA), meaning that no one else can access a user account without a verification code sent via email. Midas.Investments also performs automatic logouts once every seven days to guarantee user safety.

What Coins Does Midas.Investments Support?

Midas supports and pays interest in several crypto assets, including Ethereum (ETH), USD Coin (USD), Avalanche (AVAX), Binance Coin (BNB), and several others.

Pros of Midas.Investments are

  • Impressive high-interest rates
  • A wide variety of assets are available
  • Built-in swap feature
  • It allows trading, mining, storage, and monitoring on the same platform.
  • It has multi-layer wallet security that protects users’ assets.

Cons of Midas.Investments are

  • The website can be somewhat tricky for new users
  • Only offers funding with crypto

Summary

Midas.Investments is ideal for any crypto investor holding some crypto tokens and is interested in earning passive income. The platform can offer a potentially reliable income stream and is suitable for you if you’re looking for a way to build a portfolio.

PlatformReward Rates (APY)
Midas.Investments
Up to 26%Go to site →

Binance

Binance stands out among the best crypto staking platforms for investors looking for high rewards. The platform supports over 100 staking coins covering many projects and APYs. This gives investors more freedom and accessibility to participate in crypto staking without giving up full liquidity.

The Binance platform ticks many essential boxes of the best crypto staking platform primarily because it pays the highest yields on shorter lock-up periods. You can enjoy BNB staking and ETH staking, and a myriad of other staking benefits. If you’re adventurous enough and are interested in trying some of the best crypto staking tokens, then Binance is the place for you to go.

Staking Crypto on Binance

Crypto staking at Binance is a rich experience. How much interest you end up earning depends on how long you wish to lock your coins. Binance offers different locking periods ranging from 10, 30, 60, to 90 days. Users need to choose between the forms of crypto staking: locked staking and flexible staking.

Binance Locked Staking

You have to lock your funds for a determined period in locked stacking. The funds won’t be available for trading until the set period is complete. You lose the rewards if you retrieve your tokens before the set lock-up time expires.

The type of staked crypto determines the rewards earned, the number of tokens, and the staking period. Generally, the more tokens you stake, the more the rewards.

While locked staking generally offers more crypto options and more rewards than flexible staking, you must lock your tokens for the entire staking period to benefit.

Binance Flexible Staking

Flexible staking is for users who don’t want to lock their crypto. It allows you to benefit from crypto staking rewards but leaves you with the freedom to retrieve your tokens when you need them for anything else. However, the privilege comes with the disadvantage of fewer tokens to choose from and smaller staking rewards.

What Coins Does Binance Support?

Binance supports over 100 different cryptocurrencies. The most popular coins include Binance USD, Ethereum, Bitcoin, and Avalanche (AVAX).

Pros of Binance are:

  • Decent Selection of crypto
  • Easy to use
  • Popular crypto platform
  • Varied lock-up periods
  • No staking fees

Cons of Binance are:

  • Difficult to understand for beginners
  • You must lock your tokens for a period to receive decent rewards

Summary

Binance staking is arguably one of the well-respected ways of crypto staking. This is especially true considering the variety of crypto assets that the platform supports. While there isn’t much information about how they secure, store and protect your assets, we believe it’s as secure as the exchange itself. Where it lacks high staking rewards, it makes up for regulations and trustworthiness. The fees are relatively low, but it’s not highly recommended for beginners as it is not the simplest one to understand.

PlatformReward Rates (APY)
Binance
Up to 100+%Go to site →

Coinbase

If you’ve been around crypto for a while, we guess you’ve heard about Coinbase, one of the largest exchanges based in the United States. Coinbase is famous for lowering the entry barriers into the crypto space and has a straightforward onboarding process for crypto staking. The platform’s easy-to-navigate interface makes learning the process and managing crypto staking a seamless experience.

Coinbase is mainly celebrated among crypto staking platforms as the ideal platform for new investors. The platform launched in 2012 has a beginner-friendly approach carried on from its exchange to the staking platform. Crypto investors have the freedom to stake and earn from numerous digital assets on offer with a few button clicks.

Staking crypto at Coinbase is made easier by the number of comprehensive and accessible learning materials that the platform offers. The education program also involves how to stake different cryptocurrencies and the rewards you can earn. Coinbase features robust security measures, including two-factor authentication (2FA) on all areas of its platform. You will find Coinbase a well-regulated and easy-to-use crypto staking platform.

Staking Crypto at Coinbase

Investors who use staking services at Coinbase can earn around 7% of their investment annually. However, you want to note that the rate usually fluctuates based on the number of Ethereum tokens you lock up.

Coinbase allows staking for two stablecoins and four significant cryptocurrencies. Users can earn rewards on Coinbase Earn from Dai, Tezos, and Algorand on a $1 minimum balance and enjoy free transfers from external wallets for staking.

You can stake your Ethereum independently for greater ETH staking rewards, but you need to lock up 32 Ether tokens to qualify to stake your crypto as an independent node. If you can’t raise the 32 ETH, you can still stake any other amount, but the interest will be lower. The yields you accrue depend on the particular digital asset that you choose.

What Coins Does Coinbase Support?

The list of staking coins that Coinbase supports includes Cosmos (ATOM), Ethereum (ETH), Tezos (XTZ), and Cardano (ADA). Others are Algorand (ALGO) Dai and USDC.

Pros of Coinbase are

  • Beginner-friendly staking platform
  • Trusted crypto brand
  • Invest in staking coins with a deposit of $1
  • Regulated by the FCA and FinCEN
  • It offers both crypto staking and stablecoin staking.

Cons of Coinbase are

  • A limited selection of coins
  • Lower rewards
  • You pay fees for staking your coins

Summary

We found that users who choose to stake crypto at Coinbase can either buy the staking-supported crypto directly from their exchange or transfer it from external crypto wallets into their Coinbase account.

While the platform offers the easiest staking method, it also happens to be costlier than several other staking platforms if the commissions indicated in the user agreement are anything to go by. The additional advantage that we found with Coinbase, other than an easy-to-use platform, is that there is no minimum staking limit.

PlatformReward Rates (APY)
Coinbase
Up to 5.75%Go to site →

Kraken

Kraken exchange, ranked the 4th largest exchange by the CoinMarketCap, allows staking in at least 12 different crypto assets. The platform also provides un-staking, which means you can take out your staked amount for trading or withdraw when you want it as there’s no bonding period.

Investors using the Kraken platform earn their staking rewards instantly, and the payouts are done once weekly or even more, depending on the staked coins. If you choose to stake your rewards further, you increase your earnings. Kraken calls this process on-chain staking, but off-chain staking is available only in some select countries. Most importantly, Kraken doesn’t charge additional fees for staking or un-staking.

Kraken is notable for its user-friendly interface that offers detailed instructions on using the platform, which many first-time investors will find an advantage. Kraken offers 24/7 customer support that provides timely response times for all user inquiries.

Staking Crypto at Kraken

Crypto staking at Kraken comes at two different levels. You’re better off starting at the central Kraken platform if you’re a beginner. Once your account has been verified, you link it to your bank account and buy crypto or convert between currencies in your account.

If you’re experienced in crypto staking, the Kraken Pro platform, which has advanced features, will work best. The Kraken Pro platform is dynamic and active and can work through a simple web browser or your smartphone.

The platform’s interface can confuse beginners because it carries more detailed information, including charts. At Kraken, you can choose between buying your preferred crypto on the platform for your crypto staking or transferring them from elsewhere.

What coins Does Kraken Support?

Kraken supports over 110 cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), and Litecoin (LTC), to name a few. The platform also supports a few stablecoins. However, note that some currencies may not be available in every country.

Pros of Kraken are

  • Supports more than 110 coins
  • Has an easy-to-use interface
  • Exchange offers high

Cons of Kraken are

  • Higher fees for using Kraken Central

Summary

Kraken is considered a relatively safe and credible staking platform, seeing that it’s regulated by FinCEN in the USA, FINTRAC in Canada, and the FCA in the UK.

Kraken’s advanced security measures and many features make the platform ideal for beginners and experienced traders alike.

Beginners can benefit a lot from the platform by using the Learn Hub, a learning platform featuring videos and in-depth guides on different concepts of crypto trading.

The platform offers over 80 cryptocurrencies with free deposits on most coins. Kraken’s staking feature remains one of the favorites in the market as users can earn rewards by clicking a few buttons and earn once a week or more.

PlatformReward Rates (APY)
Kraken
Up to 23%Go to site →

Uphold

Uphold offers a PoS staking feature as a means of blockchains using the proof-of-stake consensus mechanism to validate and process transactions and create new blocks. Users who can make the minimum balance of the different supported tokens can earn impressive staking rewards.

Uphold works well for both novices and advanced investors as it gives users several options on an easy-to-use staking platform. Apart from the rewards earned from ETH staking that cannot be re-staked, you can regularly make more rewards from the staking rewards credited to your staking account. The platform offers various cryptocurrencies alongside many fiat currencies, precious metals, and equities.

Staking Crypto At Uphold

The Uphold crypto staking platform may be relatively new, but stakers can earn rewards of up to 19.5%. The platform offers staking services in several popular coins, and there’s a weekly payout of earnings using the platform’s mobile app.

The staking platform is highly suitable for novices even though they still need to work on their graphs and charting tools. Despite that, the platform has a fully customizable interface that allows users to bring all their investments into a singular account.

What Coins Does Uphold Support?

Crypto staking at Uphold supports several popular coins, including Ethereum (ETH), Cardano (ADA), Solana (SOL), and Polkadot (DOT), as well as Luna Coin (LUNA) and Kusama (KSM).

The Pros of Uphold Are

  • Excellent cryptocurrency selection
  • Cross-asset trading
  • No deposit, withdrawal, or trading fees

The Cons of Uphold Are

  • Variable spread
  • Bland mobile app

Summary

Uphold is ideal for users looking for a user-friendly crypto staking platform to invest their crypto tokens. According to their website, Uphold uses an intricate encryption system, and like the leading banks, they perform regular penetration tests and security audits to ensure that users’ assets are safe. To facilitate complete transparency, the platform publishes up-to-date information on all the assets it has in its reserves. The platform is also regulated by several American and European governmental agencies, meaning your assets are relatively safe from hackers or human error attacks.

PlatformReward Rates (APY)
Uphold
Up to 19.5%Go to site →

How Crypto Staking Works

Participants investing in the staking process pledge their digital assets to the crypto staking platforms. The staking platform then chooses validators among those participating individuals to confirm blockchain transaction blocks. The probability of you being selected as a validator is proportionally dependent on the number of coins you stake.

Blocks of transactions verified by the validators become new blocks for the blockchain. And since proof-of-stake is a requirement for cryptocurrencies that support crypto staking, you earn rewards when you participate in successfully creating a new block.

However, in the unlikely event that a block turns out wrong, the investors lose the stake in what players in the crypto staking industry refer to as a ‘slashing’ penalty. The ‘slashing’ penalty is a double-edged sword: on the one hand, it’s meant to ensure that stakers get rewarded for picking trustworthy validators, but, on the other hand, it acts as punishment when stakers back bad validators. So, as you can already see, even investors without technical knowledge and abilities can stake crypto.

Pros of Crypto Staking

  • You earn interest on your crypto
  • Offers faster, cheaper transactions
  • Greener and more energy efficient
  • Potential voting rights

Cons of Crypto Staking

  • Locks crypto assets into a fixed term
  • Risk of slashing penalty
  • Includes some payable fees

How to Stake Cryptocurrency

There are two basic staking methods, but one takes a lot more effort than the other.

The first method, which is more complex, requires setting up a node and running it yourself. It would be best to have sufficient knowledge and expertise on crypto staking and the digital assets to stake successfully.

Also, there’s a minimum staking amount of 32 ETH that you must reach before you qualify to become a full validator. Mainly, people achieve this by joining a staking pool, where investors pool their resources to achieve the minimum threshold.

The second method is the easier way to stake crypto, and it’s done through exchanges or other dedicated crypto staking platforms. You need to deposit your crypto assets and allow the platform to stake them on your behalf.

Types of Crypto Staking Platforms

Before you choose between the best crypto trading platforms, you must realize there are different ways of getting started.

Crypto Exchanges

A crypto exchange is perhaps the clearest entry point for anyone interested in earning staking rewards. Exchanges allow you to stake any amount of crypto you’re comfortable with. In exchange, they create a validating node on your behalf. The exchange acts as an intermediary between the staker and the validating party.

Wallets or Staking Pools

A staking pool comprises a group of investors who get together and agree to pool their stakes, which requires a high degree of expertise and coordination. Generally, most staking pools are private members’ clubs with high entry barriers to prevent the pool from getting into trouble.

Staking-as-a-Service platforms

Staking as a service offers investors who want to stake crypto a more straightforward method to avoid challenges associated with staking crypto. The stakers entrust a service provider to identify and make crypto staking investments on their behalf.

How to Choose the Best Crypto Staking Platforms

One of the most important things to do when choosing the best crypto trading platforms is trustworthiness and reputation. Consider the staking fees you’ll pay for staking cryptocurrency on the platform. The good news is that many staking firms competing for your business. You can be sure that it helps to keep the transaction fees at a reasonable level.

The Bottom Line

Crypto staking offers you an opportunity to earn passive income on your crypto holdings. Whatever you define as the best crypto staking platform, follow these three simple steps, and you’re good to go.

Step 1: Sign Up

Head to the crypto staking platform of your choice and click “Join Now.” You’ll need to enter your email and password before clicking “Create Account.”

Step 2: Deposit Funds

Deposit the required minimum deposit or more via credit card, debit card, bank transfer, or crypto transfer.

Step 3: Stake Crypto

Select the crypto token you want to stake, click “Buy,” and enter the amount you wish to stake. Sit back and start earning crypto rewards.

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