9 Best Crypto Staking Platforms That are Safe to Use

Crypto staking is the process whereby members of a particular blockchain lock up their assets or digital tokens for a period to earn interest out of it. The blockchain network benefits significantly from this since the performance and safety of the blockchain network are maintained. Therefore, crypto staking is a two-way affair designed for the benefit of both parties.

In this article, we will present the 9 best crypto staking platforms and highlight their unique features to help readers choose the best option for their goals.

9 Best Crypto Staking Platforms

1. Kraken

According to CoinMarketCap, Kraken is currently the third largest crypto exchange. The crypto exchange allows users to stake up to 18 crypto assets while supporting crypto unstaking options, so users can either trade or withdraw their staked assets. Kraken offers instant staking rewards, and users are paid once a week.

Those already staking can then use the Kraken rewards to increase their earnings. Kraken refers to this form of making money as on-chain staking, which has proved quite profitable. There is also an option for off-chain staking, though it is not available worldwide.

2. Crypto.com

Cyrpto.com is a relatively new cryptocurrency platform established in 2016. Fortunately, it has quickly gained popularity and is now one of the best such platforms. In less than a decade, Crypto.com has amassed millions of users worldwide, which is understandable considering its striking deals. For example, it has a reputation for offering its clients a lower exchange rate on more than 250 tokens.

Crypto.com’s staking platform users can choose to stake from 37+ cryptocurrencies through the Crypto Earn Facility available on the platform. Once users have deposited their funds, they are provided with loans that they can use to borrow capital. These funds are later repaid with interest by the borrower. Each coin attracts interest rates depending on users’ lock-up periods.

3. Coinbase

Coinbase is a cryptocurrency exchange platform that has gained popularity since its inception in 2012. For new investors seeking to purchase and sell assets in a secure environment, Coinbase has become one of the best crypto staking platforms. Aside from its staking advantages, Coinbase offers its users a regulated and user-friendly exchange platform. Coinbase currently offers ten cryptocurrency staking options.

The rates of staking vary based on the currency used. However, users can expect rates ranging between 0.15% and 6.85%.

While Coinbase already offers an array of coins for staking, you can expect more coins to be added in the future. New users should note that it is not paramount to purchase crypto from Coinbase to join its staking pool; as long as you have an external wallet, all you need is a transfer.

4. Binance

Binance has become another sturdy staking platform with global popularity. This massive cryptocurrency exchange platform now supports over 14 cryptos for staking and over 200 for yield farming and other opportunities. Furthermore, Binance offers its users many staking options, including 30, 60, 120 days, and flexible lock-up periods.

If you wish to reap high yields on Binance, you will have to pick coins with shorter lock periods. Lower periods yield higher returns because of their fluctuating rates. Binance also ensures that each staking pool has a specific maximum allocation causing them to sell out faster.

5. KuCoin

KuCoin has presented a different way of staking than other exchanges. Crypto enthusiasts working with KuCoin can choose flexible or soft staking, which does not have specific locking periods. If you wish to earn higher rewards, the platform allows users to select fixed-staking programs according to their preferences.

KuCoin’s soft-staking programs come with a redemption period, essentially when a user stops staking and regains access to the funds. For instance, when staking with Polkadot, you will have a redemption period of 28 days, one of the longest, since some take a week or less.

Users who choose KuCoin staking for longer periods must adhere to the minimum thresholds for staking. Although you cannot compare KuCoin to platforms such as Binance and Coinbase, it is an extremely user-friendly trading platform.

6. eToro

eToro was launched in 2007 and has always focused on innovation and providing a unique social trading experience. Not only does it allow users to stake with multiple cryptocurrencies, but it also focuses on informing them regarding this industry. eToro offers $100,000 virtual trading accounts for users to learn more about how the crypto market behaves and test various strategies without risking their investment.

Users must hold the staked crypto for short periods, such as 9 days (ADA) or 7 days (TRX). Regarding the payout period, eToro users receive their earnings automatically and are distributed at the end of the month. Furthermore, each user receives a monthly email explaining the reward calculation process.

7. Gemini

The Gemini crypto exchange is one of the best crypto staking platforms, offering unique products and services. For instance, it does not reveal the lock-up period or the staking fees involved.

However, investors may only choose between ETH and MATIC for now and get an APY of up to 4.48%. More importantly, the platform is transparent, with no minimum balance on staked funds or hidden fees.

8. BitStamp

CoinMarketCap ranks BitStamp as the 5th largest crypto exchange in the world. Like every other crypto staking platform, users are rewarded periodically for holding their crypto for a given time. BitStamp does not have an array of currencies for staking. Users can only stake with either Ethereum or Algorand.

Besides, BitStamp allows users to stake Algorand for only 24 hours with an APY of up to 5%, depending on the staked amount. You can opt out of Algorand anytime, as there is no lock-up.

9. OKX

OKX is another major cryptocurrency exchange that has come to offer an extensive crypto staking platform. At the time of writing, the platform provides approximately 80 cryptocurrencies to stake with different lock-up periods.

Depending on the cryptocurrency, the lock-up period can be flexible, 15 days, 30 days, 60 days, or 90 days. Naturally, depending on your option, the estimated APY varies between 1-70%.

Conclusion

This list of the best crypto staking platforms can help crypto fans find suitable options to expand their digital assets portfolio. However, investors should know that lock-up periods are paramount when locking up crypto directly. You cannot withdraw your crypto until the lock-up period has concluded.

If you seek to stake crypto for the first time, visiting a platform’s website and checking its latest reviews is essential.

The post 9 Best Crypto Staking Platforms That are Safe to Use appeared first on Coindoo.

Text source: Coindoo

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