7 Best Cryptocurrency Staking Sites You Should Try In 2022

0
713

7 Best Cryptocurrency Staking Sites [Our Definitive List]

Any time you can earn rewards on top of regular services, we take it upon ourselves to research these opportunities and share the best with you. Today, we’re reviewing 7 of our favorite cryptocurrency staking sites – where you get rewarded – starting with the very best one.

Our team has seasoned experience reviewing products and platforms across the marketplace. Now, we’ll share all the details we found with you. Let’s get into it!

1. Kraken (Best)

Link to Kraken

Kraken Highlights

Kraken features cryptocurrency staking with a notable 23% yearly cap on earnings. It’s a great choice because it’s compatible with 16 different coins (and fiat) and allows you to leave whenever without consequences.

Features

  • Twice weekly rewards earnings
  • Accepts currencies with rewards rates ranging from 0.25%-21%
  • On-chain and off-chain staking (in eligible countries)

What We Like About Kraken

We like that the ratings for Kraken are notably high, with thousands of reviews to speak to positive app experiences. We also like the no-penalty exit option, making it an excellent staking platform for beginners.

What We Don’t Like About Kraken

Unfortunately, Kraken does involve some fees for staking, which are subject to fluctuation. US residents of New Hampshire, Texas, New York, and Washington also apply some restrictions when using Kraken.

Pros ; Cons

Pros Cons
Bitcoin and Ethereum 2.0 accepted Not fully available in all states
Data is encrypted, not shared with third parties You can stake ETH but you can’t trade it
You can buy cryptocurrency on Kraken too Doesn’t feature dai stake assets
24/7 support in-app

2. Coinbase

Link to product

Coinbase Highlights

Next, we’re featuring Coinbase – a well-reviewed platform by customers. We found that it featured commonly used coins for staking and extra educational rewards opportunities that specific platforms don’t have.

Features

  • 5.75% APY cap
  • Coin staking and DeFi Yield
  • 6 staking currencies (ALGO, ADA, ATOM, ETH, SOL, and XTZ)
  • 2 DeFI options (Tether and DAI)

What We Like About Coinbase

Coinbase stood out to us because you can learn about and earn from DeFi yield opportunities and staking. The site and app are easy to use, secured, and ready for free transfers from outside wallets.

What We Don’t Like About Coinbase

We were disappointed that Coinbase only accepts 6 crypto coins compared to Kraken’s 16. Additionally, Coinbase has a balance minimum to worry about and lower overall rewards opportunities.

Pros ; Cons

Pros Cons
Daily rewards on ETH stakes Commission fees
Highest minimum balance requirement is $1 Penalties for removing currency early
No transfer fee from outside wallets Restrictions for NY and HI residents

3. Gemini

Link to product

Gemini Highlights

Gemini is third on our list because it presents more fees than Kraken and Coinbase, but the currency options are more extensive. It’s a solid staking platform with up to 8.05% APY to earn.

Features

  • 2FA and cold storage security
  • Instant redemption
  • Available to residents of all 50 states
  • Stablecoin earning opportunities

What We Like About Gemini

The one thing we like about Gemini staking is that it is inclusive, open to all 50 states, and ready for more than 50 currency options.

What We Don’t Like About Gemini

However, we don’t like that Gemini charges variable agent fees depending on the currency you’re earning from.

Pros ; Cons

Pros Cons
Industry-leading security measures Agent fees
No withdrawal or transfer fees Limited customer support options
All US residents are eligible Increased fees for orders over $200
BTC and ETH compatible

4. Binance

Link to product

Binance Highlights

Binance is a solid platform for both locked staking and DeFi staking opportunities. In addition, it’s just a great crypto platform, highly rated, and has dozens of safe and high-yielding coin staking options.

Features

  • 100 staking products
  • 1-day minimum lock-up period
  • Locked and flexible staking

What We Like About Binance

We particularly like that Binance features a multitude of staking options for different kinds of customers. You also don’t have to worry about waiting super long for the lock-up period to end.

What We Don’t Like About Binance

Unlike other platforms, Binance, unfortunately, deducts all of your earnings if you try to redeem them early. We also dislike that Binance isn’t as accessible in the US and has a somewhat complicated app for beginners.

Pros ; Cons

Pros Cons
1-day unlock period Early redemption penalties
BTC and ETH compatible Not available in all 50 states
Rewards on native Binance Coin No staking fee

5. Uphold

Link to product

Uphold Highlights

Slightly less popular but still advantageous from our experience, Uphold stands out with a 19.5% earnings maximum. Uphold features weekly staking rewards on a large variety of coin options.

Features

  • 13 cryptocurrencies to stake
  • Important features
  • Rewards credited every Thursday
  • 3-day unstaking processing time

What We Like About Uphold

Uphold makes it surprisingly easy to start staking your crypto; it only takes a few days before you get rewarded. We also like the associated perks of Uphold, like the Mastercard crypto rewards debit card and the layered encryption of the service.

What We Don’t Like About Uphold

On the other hand, Uphold charges an upfront 15% commission fee on any rewards you earn. Further, unlike other staking platforms, Uphold doesn’t feature DeFi staking options, such as DAI.

Pros ; Cons

Pros Cons
ETH and SOL staking available High commission fees
Start earning as soon as 4 days after staking Not available in all 50 states
Mobile staking opportunities DeFi staking not available
Available in all 50 states

6. KuCoin

Link to product

KuCoin Highlights

KuCoin is a bit different. It’s a soft-staking platform with dozens of staking options and full access across the US.

Features

  • Cashback investment program
  • 23 soft-staking coins to choose from
  • Earnings below 5%

What We Like About KuCoin

We like how highly rated KuCoin is as a staking platform, and it has a lot of crypto options to choose from. We also like that you don’t have to deal with fees when you transfer or withdraw money.

What We Don’t Like About KuCoin

Sadly, the rewards you can earn with KuCoin staking are somewhat minimal compared to other sites.

Pros ; Cons

Pros Cons
No withdrawal or trade fees No ETH or BTC staking
Fairly straightforward Not the same as traditional staking platforms
Relatively low staking rewards

7. MyContainer

Link to product

MyContainer Highlights

MyContainer is an automatic staking platform. You can benefit and earn with this platform, which is partnered with Polygon, Trustly, and other businesses.

Features

  • 1-2% fees
  • 5 main staking coins
  • Buy or transfer coins

What We Like About MyContainer

We like that MyContainer is safe and regulated by the FIU. We also liked how easy it was to navigate the basic interface of MyContainer.

What We Don’t Like About MyContainer

We don’t like that there are private keys involved in this platform, which is usually too technical for beginners. Further, there will always be a fee on your staking rewards.

Pros ; Cons

Pros Cons
Secure and safe to use May need private keys
Option to transfer or buy crypto coins Fees on staking
No BTC or ETH staking

What to look for when buying product?

Common Coins

Make sure that your staking site has at least one of the most popular crypto coins features (like BTC or ETH), or at least a coin you already own.

Availability

The platform should also be available to residents of your US state.

Low Fees/Penalties

Make sure that your staking platform doesn’t charge huge commissions on rewards. You also want to avoid early redemption penalties if possible.

FINAL VERDICT – THE BEST PRODUCT

After our extensive research and testing, we landed on our top choice.

Kraken

Kraken is still our top recommendation since it features the best combo of support, security, and crypto options and a lack of penalties. You can sign up for Kraken here.

FAQs

Can you get rich staking crypto?

Crypto staking is a potentially profitable investment option, but it is risky, as the values of coins fluctuate regularly.

Can you lose crypto staking?

You can lose staking rewards at some platforms when you leave early and when your coin assets drop significantly in value.

LEAVE A REPLY

Please enter your comment!
Please enter your name here