Crypto staking refers to the process of ‘locking’ up your digital tokens for a certain period of time to contribute to the performance and safety of the respective blockchain network.

And in return, by staking your tokens, you will have the opportunity to earn interest.

In this guide, not only do we review the best crypto staking platforms for 2022 – but you’ll also find a newbie-friendly explanation of how this segment of the blockchain industry works.

Best Crypto Staking Platform List

Before we get into our reviews of the best crypto staking platforms in the market right now – check out which providers made the cut.

  • Aqru – Best Crypto Staking Platform Outside the US
  • eToro – Best Crypto Staking Platform in the US
  • Crypto.com – Best Crypto Staking Platform for Flexible Withdrawals
  • Coinbase – Popular Exchange That Also Offers Crypto Staking Services
  • Binance – Great Platform for High Staking Rewards
  • Blockfi – Best Crypto Staking Platform for Stablecoins
  • Nexo – Earn Upto 8.5% APY on Bitcoin Holdings
  • Kraken – Top On-Chain Staking Platform With Attractive Yields
  • Gemini – Trusted Platform to Trade and Stake Crypto
  • MyCointainer – Some of the Best Crypto Staking Rewards in the Market

Each of the above staking crypto sites offers something for everyone, so be sure to read our reviews before proceeding.

Best Crypto Staking Platforms Reviewed

In our search for the best crypto staking platforms for 2022, we focused on a specific set of criteria. From an investment perspective, this covered metrics such as the yields on offer, lock-up terms, and the number of supported tokens.

In terms of security, we explored whether each platform holds a regulatory license and what systems are in place to ensure your crypto staking endeavors are conducted in a safe environment.

The findings of our crypto staking platform reviews can be found below.

1. Aqru – Overall Best Crypto Staking Platform

The first crypto staking platform to consider is Aqru. This provider built its staking platform with newbies in mind, as the website itself is easy on the eye and free of unnecessary jargon. You can even access your crypto staking account via the Aqru mobile app – which is also user-friendly.

In terms of supported assets, this top crypto lending platform allows you to deposit both fiat currency and digital tokens. The former is inclusive of EUR and GBP. The latter includes large-cap tokens like Bitcoin and Ethereum and stablecoins such as Tether and USDC. When it comes to yields, this will depend on the specific crypto asset that you wish to stake.

For example, supported stablecoins pay the highest yield at 12% per year. Bitcoin and Ethereum both yield 7% per year, which is also attractive. This is why Aqru tops our list of the best crypto interest accounts and staking platforms.

The platform is able to achieve these APY rates by lending out your capital to both retail and institutional investors that seek to borrow additional crypto. As such, consider the risks involved. There are no fees charged to withdraw funds from the Aqru platform when cashing out fiat currencies. However, crypto withdrawals are charged a flat withdrawal fee of $20 – which might make Aqru unsuitable for small investments. Aqru is also one of the best crypto loan sites due to its fantastic rates.

Unfortunately, Aqru doesn’t accept US users. If you’re based in the US and want to stake crypto we recommend eToro, which we review next.

Staking Rewards on Cryptocurrencies ·      Stablecoins (USDT, USDC, DAI) –12%

·      Non-Stablecoins (BTC, ETH) – 7%

Min & Max Staking Amounts €100 (£110.80) minimum; no maximum stated.
Lock-In Period No lock-in period; flexible withdrawals offered
Security & Regulation Features ·      Regulated by the Republic of Lithuania

·      VASP under Lithuanian law

Additional Rewards Offered N/A
Payout Frequency Daily

Cryptoassets are a highly volatile unregulated investment product. 

2. eToro – Popular Crypto Staking Platform with Low Fees

etoro reviewPrimarily, eToro is known as an SEC-regulated cryptocurrency broker that offers industry-leading fees and low account minimums. However, eToro has since created a portal that allows you to stake your idle cryptocurrency investments. In fact, what we really like about this platform is that as soon as you buy digital assets at eToro, the respective tokens will automatically be staked on your behalf.

As of writing, eToro offers automated staking rewards on three crypto assets. This is inclusive of Ethereum, Cardano, and Tron. In terms of fees, this will depend on your eToro member status and location. For instance, while bronze members and US clients will receive 75% of the monthly staking yield that eToro is able to obtain, diamond and platform+ account holders retain 90%.

etoro review

eToro is also one of the best crypto staking platforms for 2022 should you wish to engage in a flexible arrangement. By this, we mean that there is no requirement to lock up your crypto tokens for any period of time. On the contrary, you will continue to earn staking rewards on eligible tokens that you hold in your eToro crypto wallet until you decide to cash out. This subsequently prevents the need to transfer staking coins between competing platforms.

In choosing eToro as your go-to staking provider, a full range of other benefits are on offer. For example, you will be staking your crypto assets in a heavily regulated ecosystem, as eToro is licensed by the SEC, FCA, ASIC, and CySEC. Moreover, should you wish to buy crypto at eToro, you can deposit funds with US dollars for free with a debit/credit card, ACH, bank wire, or an e-wallet. And, instead of paying expensive commissions, you only need to cover the spread – which starts at 0.75%.

Staking Rewards on Cryptocurrencies Varies monthly for ADA, TRX, ETH2.0*; based on total staked volume of all eToro users.
Min & Max Staking Amounts USD equivalent that allows a minimum of $1 staking rewards per month
Lock-In Period No lock-in period; flexible access
Security & Regulation Features ·      SEC regulated

·      Licensed by FINRA and FinCEN

Additional Rewards Offered Higher tiers of club membership retain a greater percentage of attained staking rewards
Payout Frequency Monthly

Cryptoassets are a highly volatile unregulated investment product. 

3. Crypto.com – Best Crypto Staking Platform for Flexible Withdrawals

crypto.com logo

Crypto.com was launched in 2016 and since become one of the world’s largest cryptocurrency exchanges – with millions of clients on its books. However, although Crypto.com is primarily known for offering simple and low-cost exchange services across more than 250+ tokens, the platform is also involved in a selection of other crypto-centric products.

In addition to digital asset loans, crypto credit cards and debit cards, and NFT markets, Crypto.com also offers staking services via its Crypto Earn facility. In a nutshell, once you deposit your chosen digital tokens, Crypto.com will allocate the funds to provide loans to account holders that wish to borrow capital. The end-borrower will subsequently repay the funds with interest added on top, which you will receive on a daily basis.

Crypto.com review

In terms of how much you will be paid, this depends on three core factors. First and foremost, APY rates will vary depending on the respective token. For instance, stablecoins such as USDC and TrueGBP attract an APY of 12%, while in the case of Bitcoin and Ethereum, this stands at 6.5%. Second, specific rates will depend on whether you are happy to lock your tokens up for one or three months, or with no redemption clause at all. For more details read our Crypto.com credit card review.

And finally, if you are able to stake CRO tokens – which is the native digital asset of Crypto.com, you will earn higher APYs. Irrespective of which tokens you decide to stake and on which terms, you must remember that your tokens are able to generate interest because Crypto.com lends the funds out. Nevertheless, in joining Crypto.com, you will also have instant access to a large suite of digital tokens that you can buy with a debit card at just 2.99% – so the platform will suit active traders.

Staking Rewards on Cryptocurrencies ·      Stablecoins (USDT, USDC, DAI, etc) – Up to 14%

·      Non-Stablecoins (BTC, ETH, CRO, LTC, etc) – Up to 14.5%

Min & Max Staking Amounts ·      Minimum – Varies depending on coin (e.g. 0.005 BTC, 0.15 ETH)

·      Maximum –  $500,000 (USD equivalent)

Lock-In Period Customisable – three months, one month, or flexible
Security & Regulation Features ·      Tier 4 assessment from NIST Cybersecurity

·      Stress-tested by Kudelski Security

Additional Rewards Offered APR increases as the amount of CRO staked increases.
Payout Frequency Weekly

Cryptoassets are a highly volatile unregulated investment product.

4. Coinbase – Popular Exchange That Also Offers Crypto Staking Services

Coinbase is perhaps the best crypto staking platform to consider if you are a beginner that is also looking to buy and sell digital assets in a secure environment. This is because, in addition to staking services, Coinbase offers a regulated and user-friendly exchange platform. As of writing, Coinbase supports six digital currencies that can be staked.

This is inclusive of Ethereum, Algorand, Cosmos, Tezos, Dai, and USDC. Rates on offer vary from 0.15% APY on USDC to 5% on Cosmos. Support for additional staking coins is expected in the coming months. It is important to note that you do not need to buy crypto on Coinbase to be eligible for staking rewards. On the contrary, you can transfer the tokens you would like to stake from an external wallet.

coinbase staking

If you like the sound of Coinbase for your staking requirements, you can open a verified account in less than five minutes by providing some basic personal information and a copy of your government-issued ID. And, if you are yet to hold any staking coins, you can make a purchase with your debit or credit card instantly. You will, however, need to bear in mind that this payment method attracts a fee of nearly 4%.    

Staking Rewards on Cryptocurrencies Up to 5% on non-stablecoins; up to 2% on stablecoins
Min & Max Staking Amounts Varies depending on asset (no minimum for ETH)
Lock-In Period Varies depending on asset
Security & Regulation Features ·      Regulated by the SEC

·      Listed on the NASDAQ

Additional Rewards Offered N/A
Payout Frequency Varies – from daily to weekly depending on asset

Cryptoassets are a highly volatile unregulated investment product.

5. Binance – Great Platform for High Staking Rewards

binance logo

Binance is one of the best crypto staking platforms for those looking to earn high rewards. This popular exchange platform is able to support nearly 100 different staking coins – which covers a wide range of projects and APYs. Moreover, in terms of how long you wish to lock your tokens up for – Binance offers various options. This typically covers a period of 10,30, 60, or 90 days.

To give you an idea of what’s on offer, Moonbeam (GLMR) is available to stake on the Binance website on a 10-day lock-up period alongside a super-high yield of 239%. You then have the likes of Shiba Inu and Solana, which attract at APY of 8.78% (30 days) and 10.12% (10 days) as of writing. What you will often find at Binance is that the highest yields are paid on shorter lock-up periods.

binance staking

This is because rates change on a daily basis, so you will rarely be able to lock in promotional APYs for more than a month. Moreover, we should also note that each staking pool has a maximum allocation, so you might find that the best deals sell out quickly.  Once you have facilitated your staking requirements, you might also consider using Binance to trade digital currencies. After all, the platform offers more than 1,000+ markets (60 in the US) at industry-leading fees. 

In fact, the most that you will pay to trade at Binance is 0.10% per slide. This means that for every $1,000 traded, a fee of just $1 is collected. Another top-rated feature offered by Binance is its crypto savings account. In depositing funds, you will be paid a rate of interest on your idle crypto assets. Once again, the specific APY rate that you have access to will depend on the cryptocurrency and lock-up terms. Usually, flexible savings accounts offer the lowest rates.    

Staking Rewards on Cryptocurrencies Up to 3.78% on stablecoins; up to 150% on certain non-stablecoins.
Min & Max Staking Amounts Varies depending on coin
Lock-In Period Can choose between flexible, 10 days, 30 days, 60 days, or 90 days
Security & Regulation Features ·      Applying for UK trading license

·      Money Transmitter license in numerous US states

Additional Rewards Offered N/A
Payout Frequency Daily

Cryptoassets are a highly volatile unregulated investment product. 

What is Staking Crypto?

It is important that you understand the ins and outs of how crypto staking works before you embark on your interest-earning journey.

And as such, this section of our guide will explain the basics that you need to know prior to investing any tokens.

How Does Crypto Staking Work?

Crypto staking is the process of locking up some of your digital tokens to help process safe and efficient transactions on a proof-of-stake blockchain.

In doing so, you will earn a rate of interest on the tokens that you decide to stake. This means that instead of keeping idle cryptocurrency investments in a traditional wallet, you can earn regular income on your tokens in addition to capital gains.

Before going any further, let’s look at a basic  example of how crypto staking works:

  • Let’s say that you wish to stake ADA on the Cardano network
  • We’ll say that this yields an APY of 10%
  • You decide to stake $5,000 worth of ADA tokens for three months
  • Over the course of a year, a $5,000 staking allocation would yield $500 in rewards, so for three months – that’s $125 in passive income

It is important to note that your staking rewards will be paid to you in the respective token. This means that in the example above, your $125 staking rewards would be paid to you in ADA.

Crucially, during the timeframe that you lock your crypto away, you will still benefit from a potential increase in the token’s value. For instance, if ADA was worth $1 at the time you began staking and $1.50 when the lock-up period concludes – you would still see the value of your tokens increase by 50%. This is the beauty of crypto staking – as you can earn rewards on two fronts.

etoro staking

With that said, we should note that originally, staking was only possible by downloading the ledger node of the respective blockchain network to your desktop device. This meant that you would be staking tokens directly with the blockchain ledger via a supported wallet.

However, the staking scene has since evolved – making it far more convenient for beginners and experienced investors alike to earn rewards.

This is because the best crypto staking platforms are now third-party providers that simply require you to deposit your tokens to start earning interest. And, staking rewards are even possible on non-proof-of-stake coins, as leading platforms offer interest-earning opportunities via savings accounts.

Lock-Up Periods

When you stake crypto directly through a blockchain node, a lock-up period is almost always required. This means that you will not be able to withdraw your crypto assets until the lock-up period has concluded.

This is somewhat similar to how traditional bonds work, as you will still receive staking rewards while the tokens are locked up. It’s just that your original principal investment will not be required until the end of the agreement.

Furthermore, the best crypto staking platforms that we came across during our research process even offer flexible programs. This means that while you might receive a less favorable rate of interest, you can withdraw your staking coins at any given time.

Mining vs Staking

There is often a misconception that mining and staking are one of the same things. However, these terms each represented different processes.

  • In the case of mining, this is a process used to verify and confirm new transactions for a specific blockchain network.
  • In most cases, miners are required to inset expensive hardware into specialist devices, which consume large amounts of electricity.
  • But, in return for contributing their resources, miners have the chance to earn rewards when new tokens are minted. Bitcoin, for example, pays successful miners 6.25 BTC every 10 minutes.

Importantly, mining – especially on popular networks like Bitcoin, is highly cost-ineffective. This is why staking is more favorable. For instance, to stake cryptocurrencies online, you are not required to buy any hardware devices, nor do you need to consume vast amounts of electricity.

Instead, it’s just a case of choosing the best crypto staking platform for your requirements, depositing the respective tokens, and then sitting back and enjoying your passively-earned income.

On-Chain vs Off-Chain Staking

Another important aspect to understand about cryptocurrency staking is whether you will be initiating the process on-chain or off-chain. In its most basic form – and as the name suggests, on-chain staking is will see you stake your tokens directly on the respective blockchain network.

As we briefly covered earlier, this will usually require you to download the entire blockchain ledger to your desktop device and then connect to a node through a supported wallet. Although this allows you to engage directly with the blockchain, on-chain staking is best left to those with enhanced knowledge of cryptocurrencies.

ethereum staking

On the other hand, if you are a complete beginner that wishes to keep things basic, then you are better off using an off-chain staking provider. All of the best staking platforms that we reviewed today provide off-chain services, which means that you require no prior experience to get started.

This is because your agreement is with the staking platform itself – as opposed to the blockchain network. And as such, once you have decided on the staking platform, cryptocurrency, and desired lock-up period – there is nothing more for you to do.

Benefits of Staking Crypto

Crypto staking won’t be for everyone – especially if you are looking to trade digital currencies actively. With that in mind, to ensure that staking is right for your cryptocurrency investment goals – consider the benefits outlined below.

Earn Interest on Idle Crypto Investments

When you hold traditional stocks in your portfolio, there is every chance that you will receive dividend payments every month.

But, by holding cryptocurrencies in your portfolio, you will only make money if the value of the digital tokens increases and you elect to cash out. Well, not unless you decide to store your long-term crypto investments at a top-rated staking platform.

This is because, for as long as you decide to stake your tokens, you will be paid a rate of interest. This means that you will have the opportunity to grow your crypto wealth on two fronts – as you will still reap the rewards if the respective digital asset rises in value.

Compound Interest Strategy

Once again uses traditional equity investments as a great comparison, dividend stocks give you the opportunity to benefit from compound interest.

This is because, on each quarterly payment that you receive, you can instantly reinvest the dividends back into the same stock.

  • For example, if you received $150 in dividends from Johnson & Johnson, based on prices as of writing, this would allow you to purchase two additional shares.
  • As this process is repeated, you are increasing your interest-earning ability, as dividends are paid on a greater number of stocks.

In the case of staking, the best platforms in this space distribute rewards on a daily basis. And as such, every time you receive staking rewards in the form of new tokens, this increases your overall holdings. Moreover, by reinvesting the tokens back into the staking platform, you will exponentially increase the size of your daily payments.

Hedge Against Falling Crypto Prices

Another great benefit of crypto staking is that you can hedge against the risk of falling crypto prices. For instance, let’s suppose that you are a long-term investor and currently hold $5,000 worth of digital currencies in your portfolio.

If the broader markets go on a prolonged downward spiral, then it can be disheartening to see the value of your portfolio decline.

However, by staking your cryptocurrency tokens, you will still earn rewards irrespective of how the respective digital asset is performing.

Staking Doubles up as a Storage Facility

When using the best crypto staking platforms to earn interest on your idle digital currencies, you will be required to deposit the funds into a wallet that is controlled by the provider.

While at first glance this might sound somewhat risky, this won’t be the case if you are using a regulated entity.

  • For instance, we mentioned earlier that eToro is authorized and regulated by a number of reputable financial bodies – including the SEC.
  • And as such, you can be sure that your staking tokens are being well looked after.
  • Furthermore, in choosing a trusted staking platform, you don’t need to worry about being responsible for safekeeping your private keys.
  • Instead, wallet security is the responsibility of your chosen staking site.

With that said, you should avoid making the assumption that all crypto staking platforms are safe. On the contrary, anyone can create a website offering staking services, so be sure to research your chosen provider thoroughly before proceeding.

The 5 Best Crypto Staking Coins

If you’re wondering which crypto to stake, you have countless options to choose from. After all, the best staking platforms in this industry allow you to earn rewards on idle digital currencies even if it’s not a proof-of-stake project.

To help clear the mist, below we discuss the five best crypto staking coins to consider for your portfolio today.

1. Cardano – Overall Best Crypto to Stake

Cardano – which is one of the most popular proof-of-stake cryptocurrencies in the market, is one of the best blockchain networks to earn rewards. This is because Cardano is a multi-billion dollar asset class with a solid roadmap in place – so you can be sure that you are staking coins on a legitimate and trusted protocol.

Moreover, many of the providers from our list of the best crypto staking platforms offer support for Cardano – including the likes of eToro and Binance. Furthermore, while your Cardano tokens are being staked on your chosen platform, you will still benefit from an increase in market value.

Cardano price

And, when you consider that Cardano generated gains of over 1,000% in 2021 alone, this gives you a great chance of doubling up on regular income and capital gains.

2. USDC – Best Stablecoin to Stake

If your main focus when staking crypto is to earn a passive income without the volatility of the broader markets, then a stablecoin like USDC is likely the best option for you.

Although other stablecoins can be staked, USDC is backed by Coinbase, and thus – you can be sure you are investing in a trusted digital asset. Moreover, unlike its fellow stablecoin provider Tether, USDC has had its reserves audited. This means that each and every USDC token in circulation is backed 1:1 with a US dollar.

usdc price

Crucially, not only does USDC allow you to earn interest without worrying about volatility, but the digital token offers some of the best staking rewards in the market. For example, you can earn up to 12% per year when staking USDC at Aqru.

3. The Graph – Best Crypto to Stake for Growth Potential

If you’re looking to invest in up-and-coming cryptocurrencies that offer great upside potential, then you might consider The Graph. This cryptocurrency is backed by the Ethereum network and the underlying technology offered by The Graph allows blockchains to index data.

the graph price

This means that blockchains can automatically move unnecessary data off-chain – which will subsequently free up space to keep the network running at desired efficiency levels. And, The Graph can be staked easily at a number of leading platforms, with some providers offering double-digit APYs.

Check out our guide on how to buy The Graph if you want to stake this crypto.

4. Ethereum – Best Crypto to Stake On-Chain

Although Ethereum is still in the process of migrating from proof-of-work over to proof-of-stake – it is still possible to earn rewards directly on-chain. On the hand one, to become a registered validator, Ethereum requires you to stake a minimum of 32 ETH. Based on prices as of writing, this amounts to a capital outlay of over $85,000.

ethereum price

The good news, however, is that the Ethereum blockchain also allows you to join a staking pool. This simply means that you will join forces with other token holders and thus – you will be able to stake Ethereum with a small amount of money. In terms of the rewards on offer, this ultimately depends on how busy the network is and what transaction fees are collected.

5. BNB – Best Crypto to Stake for ZERO Fees

If you’re put off by the fees that crypto staking platforms charge, then you might consider buying BNB and then earning staking rewards on it. This is because, when staking BNB via the Trust Wallet cryptocurrency app, you won’t pay any fees whatsoever. And as such, any staking rewards generated are 100% yours to keep.

BNB price

Moreover, in staking BNB tokens via the Trust Wallet app, you will earn an attractive APY of 11%. Your rewards are paid out on a daily basis too – which is great for earning compound interest. Furthermore, Trust Wallet does not require a lock-up period of any sort, so you can withdraw your BNB tokens at any given time.

Is Crypto Staking Taxed?

Taxation in the cryptocurrency arena is very complex and the specifics will not only depend on your residency status but your individual profile. As such, you should seek tax advice from a qualified professional.

With that said, some countries will look to tax staking earnings – albeit, the rules can and will differ depending on the jurisdiction.

Nevertheless, to give you some insight, Coinbase notes that:

“Staking rewards are treated like mining proceeds: taxes are based on the fair market value of your rewards on the day you received them“.

Potential Risks of Crypto Staking

Where there are potential rewards on the table, there will also be certain risks to consider. Staking is not exempt from this sentiment, so be sure to take the following risks into account before proceeding.

Platform Risk

We would argue that the overarching risk of crypto staking is with respect to the third-party platform itself.

  • For instance, your chosen provider will initially require you to deposit your crypto tokens into its own wallet so that you can begin the staking process.
  • This means that you need to trust that the platform has your best interests at heart. Even if it does, if the staking platform is hacked and funds are stolen – you could be a direct victim of this.
  • Moreover, the agreement you have in place is with the staking platform itself and not the respective blockchain network.
  • Therefore, when it comes to receiving your rewards or making a withdrawal request – you are trusting that the platform will meet its obligations.

This is why we like eToro as the best crypto staking platform for 2022 – as the provider is heavily regulated.

Market Value Risk

There is often a misconception that staking offers guaranteed income. Even if your chosen staking platform does keep to its advertised APY and makes each subsequent payment on time – you still need to consider the market value of the respective cryptocurrency.

For example:

  • Let’s suppose that you sign up with a staking platform that offers a yield of 50% per year on your chosen crypto asset
  • You decide to deposit $1,000 of tokens
  • After 1-year of staking, you have earned the crypto-equivalent of 50% – or $500
  • However, 1-year after staking, the respective cryptocurrency has gone in value by 80%.
  • And as such, even though you earned 50% in addition tokens, your original investment now carries a market value of just $200

Taking the above example into account, it’s probably best that you diversify as much as you can when engaging in crypto staking. In doing so, this will reduce the risk of being overexposed to a specific project.

Conclusion

This in-depth guide has covered the ins and outs of crypto staking. Not only does this include a rundown of the best crypto platforms for 2022 – but which coins you should consider.

We’ve also discussed the benefits and risks of crypto staking, and whether you should opt for an on-chain or off-chain agreement.

If you’re a complete beginner and wish to start earning rewards right now – we found that Aqru is the best crypto staking platform for people outside the US while eToro is number one for US users.  Click the links below to get started today!

Aqru – Best Crypto Staking Platform Outside the US

Cryptoassets are a highly volatile unregulated investment product. 

eToro – Best Crypto Staking Platform for US Users

etoro review

Cryptoassets are a highly volatile unregulated investment product. 

Frequently Asked Questions on Crypto Staking

What is crypto staking?

How does crypto staking work?

How do I stake crypto?

What is proof-of-stake?

Is crypto staking worth it?

Is crypto staking safe?

Do I pay taxes on staked crypto?

What is the best staking coin?

 

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