Introduction
Cryptocurrency has changed how we handle money, offering new ways for people to make their money grow. One way is through something called crypto staking which is getting more and more popular. With staking investors, can make money without actively doing much, just by helping make sure blockchain networks are secure.
Experts think staking is a safer way to invest compared to trading or mining. But even though it’s less risky, people who invest in crypto should still learn about assets that might change in value a lot.
What Is Crypto Staking?
Crypto staking is a way to make extra cryptocurrency by putting your funds in a digital wallet. You leave them there to help confirm transactions for certain blockchains, like those using the proof-of-stake (PoS) system.
Here are some good things about staking:
No Extra Equipment Needed:
Staking doesn’t require special equipment, unlike crypto mining.
Earn Interest:
You can get some extra cryptocurrency as interest on the crypto you have.
Environmentally Friendly:
Staking is much better for the environment compared to mining.
Boosts Blockchain Security:
Staking makes PoS blockchains work better and more securely.
Mining and staking are a bit different. Mining mostly happens with proof-of-work (PoW) systems, but staking works for both PoW and PoS coins on certain platforms.
If you want to start staking, first, you need to get PoS coins. Then, you choose how much of your top staking coins you want to stake. You can do this on any major cryptocurrency exchange.
Remember, there’s another way to earn more yield farming. It’s a bit more complex than staking, but it involves lending your crypto to different platforms. The longer you lend and the more you lend, the more you can earn.
Proof of Stake at Work
In 2009 Bitcoin started with a proof-of-work (PoW) algorithm to secure its network. In 2011 a new way called proof-of-stake (PoS) was introduced to address issues with PoW.
Proof-of-stake (PoS) works differently. Instead of using a lot of computer power, it relies on a voting system where coin holders choose who validates each block making it more eco-friendly.
Unlike PoW, where miners get new cryptocurrency as a reward, PoS rewards stakers with transaction fees.
Another big difference is how blocks are created. In PoS they’re “forged” rather than “mined.” Some systems like Ethereum, start with PoW and switch to PoS, while others begin by selling pre-mined coins. Understanding these methods helps investors navigate the diverse world of cryptocurrencies.
How Staking Works
People who want to be part of making new blocks on a proof-of-stake (PoS) blockchain can join in by locking up a certain amount of coins as their stake.
The more coins they lock up, the better their chances of being chosen to validate and create the next block and get a reward.
When a computer, called a node, is picked to create a block, it first checks if the transactions are okay. If they are, the node makes the block and adds it to the blockchain.
As a reward, the node gets the fees from those transactions. To make things fair there are special ways, like Coin Age Selection and Randomized Block Selection, to keep the process from always favoring the richest nodes.
These methods help everyone have a fair shot at being chosen.
Top or Best Crypto Coins in 2024
Passive Income Through Cryptocurrency?
There are many different coins you can stake, which means you can earn rewards by holding them. For instance, StakingRewards.com has a list of over 200 coins that give you profits. Some popular ones are Ethereum (ETH), Solana (SOL), Cardano (ADA), and Tezos (XTZ), and they work on a proof-of-stake (PoS) system.
You can keep your coins in an exchange wallet and still stake them in some cases. For example, with Tezos, you can use a Binance or Coinbase wallet and stake your XTZ coins. But remember, the exchange takes a part of the rewards you earn.
Staking can be a simple way to grow your cryptocurrency without much effort or cost. However, be careful because some projects might exaggerate how much you can earn from staking. It’s crucial to research a project’s staking plans to make sure they are realistic and will last.
Also, look into the community and what people think about the blockchain you’re interested in. Understanding these things will help you make better decisions.
Top Staking Coins with High Rewards in 2024
Now that you know a bit about staking coins, let’s keep going to find out about our favorite staking coins.
these coins are based on a few things:
- Coins that give you a good amount back when you stake them.
- Blockchains that have been around for a while and are well-known.
- How easy it is to stake these coins.
Take your time to decide which coin is best for you when it comes to staking.
1. BitDAO (BIT)
With backers like Peter Thiel and Pantera Capital, BIT stands out as a promising exchange token. As one of the largest decentralized autonomous organizations (DAOs), BitDAO aims to foster the DeFi space, striving for open finance and a decentralized economy. BIT holders actively shape BitDAO’s future through governance voting, influencing core protocols, and token swaps.
How to Stake BIT:
Join Bybit Launchpool after completing KYC on Bybit.
Transfer BIT to Bybit Earn account to start staking.
With a prize pool of 1,500,000 BIT tokens and an average annual return of 14.77%, BIT offers substantial growth potential and rewards.
2. Tether (USDT)
For a stable staking experience, consider USDT. With high trading volume, USDT ensures liquidity, allowing easy swaps for more lucrative tokens. Bybit Earn offers flexible staking with an average annual rate up to 3.5%, making USDT a stable choice for beginners.
How to Stake USDT:
Utilize Bybit Earn for flexible staking.
Benefit from the stability of USDT, offering instant withdrawals and hassle-free staking.
3. Ethereum 2.0 (ETH)
As the second-largest cryptocurrency, ETH’s transition to Ethereum 2.0 introduces staking opportunities. Stakers need a minimum of 32 ETH, and Bybit Earn offers flexible staking rates, providing a steady 2.5% APY during the early access phase.
How to Stake ETH:
Accumulate at least 32 ETH.
Staking on Bybit Earn offers a 2.5% APY, contributing to passive returns.
4. USD Coin (USDC)
Choose USDC for stability and transparency, audited monthly by Grant Thornton, LLP. Bybit Earn’s flexible staking delivers average returns of up to 8.88%, making USDC a reliable option with a stable value pegged to the dollar.
How to Stake USDC:
Stake USDC on Bybit Earn, enjoying transparent and stable returns.
5. Terra (LUNA)
Investing in LUNA on Terra is straightforward, allowing the creation of TerraUSD (UST) backed by cryptocurrency. Stakers can exchange UST for LUNA, earning passive income with an annual staking reward of around 12.10%.
How to Stake LUNA:
Exchange UST for LUNA to participate in the staking process.
Enjoy a substantial annual staking reward ranging from 6.75% to 10.60%.
6. Polkadot (DOT)
Polkadot stands out with scalable multi-chain technology. Stakers with a minimum of 40 DOT can expect an average annual return of 14%, making DOT one of the best options for earning passive income.
How to Stake DOT:
Stake a minimum of 40 DOT.
Platforms like Binance, Kraken, and Fearless Wallet support DOT staking.
7. Tezos (XTZ)
Tezos, utilizing liquid proof of stake (LPoS), allows staking with just one XTZ. “Bakers” receive rewards for validating transactions, providing consistent annual returns ranging from 6.75% to 10.60%.
How to Stake XTZ:
Start staking with as little as one XTZ in your wallet.
Receive initial rewards after 35–40 days, with subsequent payments every three days.
8. Polygon (MATIC)
Designed to scale Ethereum, Polygon validates up to 65,000 transactions per second. Stakers can delegate a single coin to participate in the network, earning an expected annual reward of over 14%.
How to Stake MATIC:
Connect MetaMask wallet to Polygon wallet for staking.
Benefit from efficient transactions on the Ethereum network.
9. Binance (BNB)
BNB, from the world’s leading crypto exchange Binance, offers staking with no minimum requirement for delegation. With an average annual return between 6–9%, BNB provides convenient staking directly on the Binance platform.
How to Stake BNB:
Stake BNB directly on the Binance platform.
Enjoy returns ranging from 6–9%, potentially reaching up to 30%.
10. Hydra (HYDRA)
Hydra combines deflationary and inflationary mechanics, burning transaction fees to protect against price degradation. Stakers with a minimum of 10 HYDRA coins can earn a high annual rate of return starting at 60%.
How to Stake HYDRA:
Stake a minimum of 10 HYDRA coins.
Early stakers receive a substantial return, gradually decreasing to 20%.
11. Algorand (ALGO)
Algorand provides effective scalability, allowing stakers with just one ALGO to become validators. Annual returns range from 5–10%, depending on the staking platform used.
How to Stake ALGO:
Use Ledger, Algorand Wallet, or Coinbase for staking.
Expect annual returns based on the chosen staking platform.
12. PancakeSwap (CAKE)
PancakeSwap, a popular Binance Smart Chain platform, allows staking CAKE coins for additional CAKE or other cryptocurrencies. With annual returns ranging from 31–42%, CAKE is a top choice for crypto staking.
How to Stake CAKE:
Connect your wallet to PancakeSwap for staking.
Benefit from lower transaction fees on Binance Smart Chain.
13. Solana (SOL)
Solana’s efficient blockchain offers quick transactions and low costs. With transactions completed in seconds, SOL stakers can expect annual returns between 7–11%.
How to Stake SOL:
Stake SOL with Ledger, MathWallet, Atomic Wallet, or Exodus.
Leverage Solana’s speed and low transaction costs for efficient staking.
14. Avalanche (AVAX)
Avalanche’s scalable platform accommodates millions of validators. Stakers need a minimum of 25 AVAX, with an annual return on investment ranging from 8–14%.
How to Stake AVAX:
Stake a minimum of 25 AVAX coins.
Expect a high annual return on investment with Avalanche’s scalable platform.
15. ApeSwap Finance (BANANA)
ApeSwap Finance offers staking for BANANA coins, with annual returns averaging 75%. Stakers can choose to earn more BANANA or other cryptocurrencies.
How to Stake BANANA:
Connect your wallet to ApeSwap for staking.
Enjoy high annual returns with a timelock for harvesting rewards.
16. SushiSwap (SUSHI)
SushiSwap provides staking and yielding options, with staked SUSHI coins offering consistent returns between 7–10%. Investors can use returns for voting rights or interaction with other platforms.
How to Stake SUSHI:
Stake SUSHI coins using MetaMask or Atomic Wallet.
Leverage SushiSwap’s consistent staking returns for various applications.
17. Chronicle (XNL)
Chronicle, a popular NFT and cryptocurrency marketplace, allows staking for voting, governance rights, and rewards. XNL stakers can enjoy a high annual return of 67%, with caps on individual staking amounts.
How to Stake XNL:
Stake XNL with MetaMask, participating in voting and governance.
Benefit from high APR with capped staking amounts.
18. Cardano (ADA)
Cardano, a powerful PoS network, processes hundreds of transactions per second. ADA stakers can withdraw staked assets at any time, offering accessibility to new stakers. Annual returns range from 5–9%.
How to Stake ADA:
Use official wallets Yoroi and Daedalus for ADA staking.
Diversify to maximize returns as the platform encourages decentralization.
19. Akash (AKT)
Akash, a decentralized open-source cloud network, offers low-cost and efficient staking. Stakers with AKT can expect an impressive APY of 34.20%, making it one of the highest around.
How to Stake AKT:
Purchase AKT on exchanges like BitMart.
Stake with Keplr wallet, manually withdrawing rewards for compounding benefits.
Remember to conduct thorough research before staking to make informed decisions based on your investment goals and risk tolerance. Happy staking!
20. KuCoin
Kucoin, founded in 2017 by Michael Gan and Eric Don, stands as a Singapore-based cryptocurrency exchange.
Its primary objective is to facilitate inclusive finance through a centralized staking platform that offers a wide array of trading pairs and stake services.
Kucoin places a high emphasis on ensuring user safety, security, and operational efficiency, making it an attractive choice for a diverse global user base.
One notable feature of Kucoin is its provision for users to stake various cryptocurrencies, including Kucoin Shares (KCS), Bitcoin, and Ethereum, to earn yields.
The staking process is designed to be user-friendly, and complemented by a range of educational resources within the platform.
Kucoin supports funding through various crypto assets, and the distribution of coins and rewards is automated, streamlining the user experience.
The Best Apps for Mining Cryptocurrency on Mobile Phone
Which Coin Will Boom In 2024?
- Bitcoin (BTC) Market Capitalization is $853.88 billion.
- Ethereum (ETH) Market Capitalization is $270.61 billion.
- Solana (SOL) Market Capitalization is $26.63 billion.
- Ripple (XRP) Market Capitalization $33.93 billion.
- Cardano (ADA) Market Capitalization is $15.54 billion.
- Toncoin (TON) Market Capitalization is $7.84 billion.
Tokens Have The Highest Staking Rewards
- Bitcoin ETF Token – Overall Best Staking Coin Offering 1,120% Staking APYs.
- Bitcoin Minetrix – Top ERC20 PoS Coin With Yields Above 500%, Offers One Click BTC Mining Rewards.
- Meme Kombat – Stake to Earn Meme Combat Arena With Multiple Betting Options and 112% APY.
- TG.
Crypto Platform Has The Best Staking Rewards
Bitcoin ETF Token:
The best crypto staking platform is giving high staking APYs to $BTCETF token holders. It speculates on the arrival of a Bitcoin ETF and will burn 25% of its token supply. You can buy $BTCETF on presale.
Bitcoin Minetrix:
The world’s first stake-to-mine network. This presale offers Bitcoin mining over an Ethereum staking platform with high yields and a viral presale.
Coinbase:
The first and only publicly listed crypto trading and staking platform in the US with a huge US user base and a large global footprint. Supports popular staking assets, is easy to navigate, and you can begin staking with as little as $1.
Meme Kombat:
A meme-based stake-to-earn ERC20 platform where your favorite memes battle each other. Offers 112% APY and active live wagering on outcomes.
TG.Casino:
A new casino model with zero-KYC direct Telegram access to games. Offers gigantic 3,395% ERC20 yields and aggressive token burning for price appreciation. Raised $150,000 within 24 hours of launch.
Wall Street Memes:
A new meme cryptocurrency that has raised over $25 million. With over 1 million followers, stake $WSM to get a live APY of over 60%. The presale is now complete.
Binance:
The world’s largest crypto exchange with high liquidity. Users can stake 14 crypto assets and obtain yields of up to 6% per annum.
Crypto.com:
A user-friendly crypto exchange allowing clients to lock up cryptos or designate their stake to a validator pool through a handy mobile app.
Kraken Pro:
A widely-respected crypto exchange designed for experienced investors. Offers APYs of up to 24% with bi-weekly payouts.
Nexo:
A beginner-friendly earning mechanism with fully customizable yields. Offers smart staking through Nexo’s validator node and additional benefits for NEXO holders.
OKX:
One of the most accessible platforms for Ethereum 2.0 staking. Provides rewards in BETH which can be instantly exchanged into ETH.
Bybit:
An ideal crypto exchange for stakers seeking high-yield opportunities. Offers up to 545% APY on certain supported tokens.
My Container:
A comprehensive crypto ecosystem with various earnings opportunities. Includes an innovative “Cold Staking” feature that secures funds in offline wallets.
Aave:
A popular open-source DeFi protocol offering token staking opportunities. Insured by Nexus Mutual and provides APYs of over 12% per annum.
The Most Profitable Staking Crypto
Polkadot (DOT)
Polkadot stands out as one of the premier staking coins, offering an impressive average annual return of 14%. This robust return makes it an excellent choice for individuals seeking to generate passive income through staking activities.
The process of staking DOT is conveniently facilitated on major exchanges, including Binance, Kraken, and Fearless Wallet. These platforms provide users with the seamless capability to engage in staking DOT, capitalizing on its favorable annual returns.
Whether you are an experienced investor or a novice in the crypto space, Polkadot’s combination of substantial returns and accessible staking options positions it as a standout choice for those looking to maximize their earnings through staking activities.
What is the best staking return in crypto?
Popular Cryptos for Staking
| Token | Staking Reward | Popular Wallet with Staking Functionality |
| Ethereum | 6.16% | MetaMask |
| Solana | 7.79% | Phantom |
| Cardano | 5.24% | Yoroi |
These cryptocurrencies offer attractive staking rewards, providing investors with opportunities to earn passive income. Staking functionality is seamlessly integrated into popular wallets, enhancing user accessibility and convenience. Ethereum, with a staking reward of 6.16%, is supported by MetaMask. Solana, offering a compelling 7.79% staking reward, is compatible with the Phantom wallet. Cardano, providing a staking reward of 5.24%, can be staked using the Yoroi wallet. These combinations of high rewards and user-friendly wallets make these cryptocurrencies stand out in the staking landscape, appealing to both seasoned and novice investors.
Conclusion
In conclusion, staking coins have become a popular way for people to grow their money in the world of cryptocurrency. Staking allows investors to earn rewards by supporting blockchain networks and confirming transactions.
Crypto staking is considered a safer investment compared to trading or mining. It doesn’t require special equipment, and it’s environmentally friendly. Staking also enhances blockchain security by making proof-of-stake blockchains more robust.
If you’re interested in staking, you can choose from a variety of coins. Some well-known ones include Ethereum, Solana, Cardano, and Tezos. Each coin has its staking process and potential returns, so take your time to decide which one best suits your staking needs.
In this article, we highlighted our top picks for staking coins in 2024. We considered factors like staking returns, the reputation of established blockchains, and the ease of staking. Some of the coins we recommended are BitDAO (BIT), Tether (USDT), Ethereum (ETH), USD Coin (USDC), Terra (LUNA), Polkadot (DOT), and more.
We also discussed the proof-of-stake (PoS) mechanism, explaining how it works and how stakers contribute to creating new blocks on PoS blockchains. Staking can provide a simple way to earn passive income through cryptocurrencies.