Crypto staking means storing your tokens for a specified period, contributing to the safety and performance of the blockchain network. In return for staking your crypto, you get the opportunity to earn interest on your digital currency.
If you’re interested in crypto staking, keep reading—we review the five best crypto staking platforms in 2022.
- Aqru — The most user-friendly crypto staking platform
- eToro — The lowest fees and most regulation in a crypto staking platform
- Crypto.com — The most flexible crypto staking platform regarding withdrawals
- Coinbase — The most popular exchange that offers crypto staking
- Binance — The best crypto exchange platform for those seeking high staking rewards
Related: What Will 2022 Bring For Crypto?
2022’s Best Crypto Staking Platforms
First, let’s talk about how we chose the best crypto staking platforms for 2022.
We reviewed them from an investment perspective, covering metrics like lock-up terms, yield, payout frequency, and the number of supported tokens. We also chose these five for security reasons—their licensing and what systems they have in place to ensure that your crypto staking occurs in a safe environment.
Now, to the list!
1. Aqru
The first, with the title of the best overall crypto staking platform, is Aqru. The platform was built with newbies in mind, and as a result, it’s easy to use. People who stake their crypto with Aqru can also access their accounts on a user-friendly mobile app.
Next, let’s talk about its supported assets. This crypto staking platform allows users to deposit digital tokens and fiat currency (GBP and EUR). For crypto, these assets include large-cap tokens like ETH and BTC, as well as stable coins like USDC and Tether. The yield depends on which crypto asset you choose to stake.
For example, stable coins pay high yields of 12% per year, while ETH and BTC pay yields of 7% annually, which is still attractive to investors. Those yields are one of the primary reasons Aqru made the list of best crypto staking platforms.
This platform achieves high APY rates by lending your capital to institutional and retail investors looking to borrow additional cryptocurrencies. However, it means you also need to consider the risks involved. Aqru doesn’t charge fees for withdrawing fiat currencies; however, it does charge a flat $20 fee to withdraw your crypto, making it a less ideal choice for small investments.
2. eToro
eToro is widely known for being an SEC-regulated crypto broker and offering low fees and account minimums. However, eToro now allows users to stake their cryptocurrencies too. One thing we like about this platform is when you buy digital assets, eToro automatically stakes the respective tokens for you.
The platform’s automated staking rewards consist of three assets: ETH, Tron, and Cardano. The fees depend on your location and member status. For example, US clients and bronze members receive 75% of eToro’s monthly staking yield, while diamond and platform+ members will see 90% of it.
eToro is an excellent choice if you want flexibility. There’s no requirement to lock up your cryptocurrencies for a specific period—you continue to earn staking rewards until you choose to collect your cash. This feature also prevents you from needing to transfer your staking coins between platforms.
eToro also offers other benefits if you choose this platform for your crypto staking—it’s a heavily regulated ecosystem that’s licensed by the FCA, SEC, CySEC, and ASIC. You can also deposit funds for free and pay the spread (starting at 0.75%) rather than costly commissions.
Related: The Changing Narrative of Crypto
3. Crypto.com
Launched in 2016, this crypto platform is one of the world’s largest exchanges. Millions of people use Crypto.com. And while the platform is mostly known for its offering of low-cost, simple exchange services of over 250 tokens, it’s also involved in other crypto-centric products.
In addition to debit cards, digital asset loans, and NFT markets, Crypto.com offers staking services. Once you deposit your tokens, the platform allocates those funds to provide loans. When the borrower repays those loans with interest, users receive payments for their portion.
How much users make depends on three factors: APY rates, lock-up length, and whether you stake CRO tokens.
APY rates vary from 6.5% to 12%, depending on the currency, lock-up rates are either zero, one, or three months, and CRO is Crypto.com’s native digital asset, which earns higher APY rates.
4. Coinbase
Coinbase might be the best crypto staking platform if you’re a beginner that wants to buy and sell assets in a secure environment. In addition to its staking services, Coinbase is a user-friendly and highly-regulated exchange platform that currently supports six currencies for staking.
Those six currencies include ETH, USDC, Algorand, Tezos, Dai, and Cosmos. Rates are low—they range from 0.15% to 5%, depending on the currency you stake. However, they plan to add more staking support in the coming months, which could bring APY changes. You also don’t need to buy your crypto on the platform to get staking rewards.
If you want to try Coinbase, you can open an account in a few minutes and make your first purchase instantly. However, buying assets with a credit or debit card does come with a fee of almost 4%.
5. Binance
Binance is the top crypto staking platform if you want a potential for massive rewards. This popular platform supports almost 100 different staking tokens that cover a broad range of APYs and projects. It also offers various options for lock-up periods, including 10, 30, 60, and 90 days.
To give you an idea of how high the rewards can possibly be, you could stake GLMR on Binance with a 10-day lock-up term with an insanely-high yield of 239%. On the other hand, you can stake more stable coins like Solana, which offers a yield of 10.12% for a 10-day lock-up.
On Binance, lower lock-up terms typically come with the highest yields because rates change daily. Also, every staking pool has a maximum number of coins, meaning that the best deals go fast.
Want to know more about staking, buying, and selling crypto? View our free resources and get your free BlockCard—Our favorite way to buy, sell, and trade cryptocurrencies!
Related: Crypto Tax Guide for 2022
