Best Crypto Staking Platforms to Earn You Passive Income in 2024

Why Trust Techopedia Crypto
Why Trust Techopedia Crypto

Many beginners think that trading cryptos is the only way to make money in the crypto sphere. Fortunately, there are many other ways to do it, but not all of them are recommended for people just starting out in the industry. You will be delighted to learn that staking is probably the easiest way to earn some profits without even knowing what particular coins are used for.

If that sounds like you, you’ve come to the right place. Read our guide to discover the best crypto staking platforms, how to use them, what benefits and rewards they offer, and more.

Best Staking Platforms Ranked 

  1. Dogeverse – Overall, the best place to stake crypto, offering an over 70% APY.
  2. WienerAI – Popular meme token with high staking rewards, raised $1.3M+
  3. Mega Dice Token – Hot new GameFi token with daily staking rewards.
  4. 99Bitcoins – Learn-to-earn platform offers over 50,000% staking APY during the early presale.
  5. SmogCrypto staking platform with a 42% staking APY and huge airdrop rewards.
  6. Sponge V2 A successor to SPONGE that reached an ATH of $100 million in market capitalization.
  7. Kraken ProA crypto exchange designed with APY of up to 24%.
  8. Coinbase The first publicly listed crypto trading and staking platform in the US.
  9. Bitrue Offering competitive daily staking rewards on top crypto tokens.
  10. Margex – Offers up to 5% staking APY.
  11. NexoOffers smart staking via its validator node.
  12. OKXOne of the most accessible platforms for Ethereum 2.0.
  13. BybitIdeal crypto exchange for investors seeking high yield opportunities.
  14. Crypto.comAn exchange where investors can stake and earn rewards.
  15. BinanceWorld’s largest crypto exchange where you can get yields of up to 6% per annum.
  16. MyCointainer – A crypto ecosystem that includes an innovative cold staking feature.
  17. Aave – Popular open-source DeFi protocol offering APY of over 12% per annum.

Reviewing the Best Crypto Staking Platforms

Let’s now take a closer look at the above-mentioned crypto staking platforms so that you can find the best option that fits your investment portfolio

1. Dogeverse

Dogeverse ($DOGEVERSE) is currently the #1 crypto staking platform in 2024. It is the first Doge meme coin that works on many blockchains and rewards you for staking.

You can now buy $DOGEVERSE tokens via its recently launched presale. Early buyers can get $DOGEVERSE token for only $0.00031 at the time of writing. The platform lets you stake these tokens immediately after buying them in the presale stage.

The platform has a high staking APY of over 70% at press time. However, this rate will decline as more people enter the staking pool. Over 22 billion tokens have already been staked, showing huge community trust in the project. 

Dogeverse presale

The project has a supply limit of 200 billion $DOGEVERSE tokens. Over the next two years, the platform will give out 10% of these as rewards for staking.

What makes Dogeverse unique is that it works smoothly across six blockchains. It started on Ethereum but will use next-gen tech like Wormhole and Portal Bridge to connect with other blockchains like Binance, Polygon, Avalanche, Base, and Solana.

The Dogeverse presale raised over $13 million in just a few weeks of launch, showing strong community support. 

Interested buyers can follow Dogeverse on X (formerly Twitter) and join its Telegram group for the latest updates.

Presale Started April 2024
Purchase Methods ETH, USDT, Card
Chain Ethereum, Solana, Avalanche, Base, Polygon, Binance
Hard Cap $17 million
Min Investment None
Max Investment None

2. WienerAI

WienerAI ($WAI) is a funny meme token with a sausage dog theme on Ethereum. The platform’s native $WAI tokens are currently in a presale phase, where early buyers can grab them for just $0.000705 at the time of writing.

The project has set a supply limit of 69 billion $WAI tokens. 30% of these are being sold in the presale, where people can buy them at a lower price before the token is available to everyone. 

It also offers a staking mechanism with an APY of over 650% at press time. With over 1.4 billion tokens already staked, initial investor support and trust in the project are quite evident.

WienerAI presale page

20% of the tokens will be given out as staking rewards and another 20% of the tokens will be given out as additional community rewards. This shows the platform’s commitment to rewarding its community.

During the presale, the price of WAI tokens will go up every two days. The project has already raised over $1.3 million in just a few days of launch, showing strong community support.

You can follow WienerAI on X (Twitter) and enter its Telegram channel to stay updated on the latest news about the token’s presale.

3. Mega Dice Token

The next crypto staking platform on our list is Mega Dice ($DICE). It’s a popular casino with over 4,500 games and lets you bet on over 50 sports. It also has over 50,000 users, with 10,000+ daily active users.

Based on the Casino’s performance, the platform offers its players daily staking rewards. The project recently launched a presale for its $DICE tokens, where early buyers can get these tokens for just $0.069 each. However, this price will rise in the next presale round.

You can choose to stake your $DICE tokens for 10 days, three months, or six months. When you stake your $DICE tokens, you can earn a high APY throughout the year.

Mega Dice Token Presale homepage

Moreover, if you stake your tokens, you’ll get daily rewards and bonuses in the casino. You’ll also get exclusive access to new casino games and can join special events.

It’s worth noting that the project has a supply cap of 420 million tokens. The casino has set aside 10% (42 million) of these tokens for staking rewards.

The platform currently offers 35% of its tokens in the ongoing presale phase. You can read the Mega Dice Token whitepaper to learn more about the project and join its Telegram group to get the latest updates.

4. 99Bitcoins

99Bitcoins ($99BTC) is one of the best crypto staking platforms due to the high annual percentage yield of 50,000% during the early stages of the token presale. Similar to all token presales, this APY won’t last long, making it prudent to stake as early as possible to earn the most tokens while the high APY lasts.

This platform is designed to reward active participants who learn about crypto via an innovative learn-to-earn model. At first, the token will be available on a presale where you can buy it with ETH, USDT, BNB and a card. But later this year, the team will bridge the token to Bitcoin’s BRC-20 token standard.

99btc staking

On top of staking rewards, the team will distribute $99,999 worth of $99BTC tokens to 99 early supporters who complete certain quests. This could be a decent way to earn something while helping the project.

Follow 99Bitcoins on X and join the 99Bitcoins Telegram channel to stay up to date.

Total Tokens 99 Billion
Tokens available in presale 14.85 Billion
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase None
Purchase with USDT, ETH, BNB, Card

5. Smog

Smog (SMOG) is a promising new meme token on the Solana blockchain. It offers one of the best rates on the market, with a 42% APY for early buyers. At press time, over 21 million SMOG tokens have been staked, showing massive investor confidence and traction.

Launched on the Jupiter DEX in February 2024, Smog’s market cap soared from $2 million to nearly $65 million in just a week, showing its potential to surpass previous meme tokens like Bonk and Dogwifhat.

Smog presale homepage

According to Smog’s whitepaper, the token allocates a major portion of its 1.4 billion supply to promotions and its “Greatest SOL Airdrop” campaign. This airdrop aims to build an active community through challenges and social media engagement.

Interested users can join Smog’s official Telegram group and follow it on X to stay updated on the platform’s progress and potential listings.

 

Hard Cap N/A
Total Tokens 1.4 Billion
Tokens available in presale Not a presale
Blockchain Solana
Token type SPL
Minimum Purchase None
Purchase with ETH, SOL, USDT, USDC or any other Solana-based token

6. Sponge V2

SPONGE‘s rapid surge in popularity propelled the project to a remarkable $100 million market cap. Despite the subsequent decline in value, the introduction of their new ERC-20 token, SPONGEV2, aims to bring the buzz back.

SpongeV2 token stats

The new token will go live via a stake-to-bridge mechanism, enabling SPONGE holders to transition to the $SPONGEV2 smart contract. Stakers of the V1 token are rewarded with V2 tokens and a promise of high APY over the next four years. This might be enough to have your V1 tokens permanently locked in V2 contracts.

SPONGE’s upcoming play-to-earn racing game, detailed in the whitepaper, could provide an extra ‘pro’ – if you’re still concerned about having your V1 tokens permanently locked up. Set to release following the launch of V2, this game presents another opportunity to accumulate $SPONGE tokens through competitions.

Hard Cap N/A
Total Tokens 150 Billion
Tokens available in presale N/A
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase None
Purchase with USDT, ETH, Card

7. Kraken Pro

Advanced investors looking to start staking in crypto may wish to check out Kraken. This is because Kraken’s staking protocol is included in its “Kraken Pro” account, which is specially designed for experienced traders. Kraken Pro is highly customizable and offers a massive array of advanced trading tools.

Kraken Pro supports over 200 crypto assets and offers yields of up to 24% per year. Rewards are distributed twice weekly on many cryptos, although this will vary depending on the coin/token. Notably, 14 of Kraken Pro’s supported coins allow flexible earning, meaning they don’t require a lock-up period.

Kraken staking

Users can stake many cryptos, including Ethereum, Tezos, and Algorand. Kraken Pro also has a handy visualization graph highlighting the staking rewards investors will accrue over time. Finally, these features can also be accessed on the free Kraken Pro app, available on iOS and Android devices.

Staking Rewards on Cryptocurrencies Up to 24% APY
Min & Max Staking Amounts N/A
Lock-In Period Varies depending on the coin/token
Security & Regulation Features
  • Regular internal/external audits
  • Additional password called “Master Key”
Additional Rewards Offered N/A
Payout Frequency Up to twice per week

8. Coinbase

With a quarterly volume of over $145 billion, support in more than 100 countries, and housing $130 billion worth of assets on its platform, Coinbase offers a lot more than a traditional cryptocurrency exchange.

Coinbase staking rewards

Its staking platform is considered lucrative among investors, for the assets supported are many, and the APY offered can go as high as 10% on average.

Its staking platform is considered lucrative among investors, for the assets supported are many, and the APY offered can go as high as 10% on average.

With Coinbase, it is possible to earn APY on 83 assets in total. The highest APY provided at press time is for holding Archway, which is 16.20%. Coming in a close second is Celestia, which delivers an annual percentage yield of 14.79%. When it comes to Ethereum, Solana, and Cardano, the APY is at a low end, peaking at 5%. However, the presence of these options is what counts, and Coinbase is leading the charge there.

Staking Rewards on Cryptocurrencies Supports 83 assets and the APY ranges from 2% to 16%
Min & Max Staking Amounts Depends on the staked token. There is no minimum balance for Ethereum
Lock-In Period Differs depending on the assets staked
Security & Regulation Features Offers 2-factor authentication and cold storage.
Additional Rewards Offered Features a Learn Program offering up to $400 in rewards for learning about cryptocurrencies
Payout Frequency 3 – 7 days depending on the asset

9. Bitrue

Used by more than 10 million people, Bitrue is one of the most popular crypto staking platforms. Since its launch, more than 371.69 million Tether has been staked on Bitrue. A further 23.2 million Tether has been distributed as rewards. Investors can lock in top assets such as USDC, NEAR, and LINK through the staking mechanism. 

Bitrue also allows investors to stake its native token (BTR) for 30 days and generate up to 100% in APY. Other tokens, such as USDC, offer 10.99% APY for a 30-day staking period.

Bitrue staking

This staking platform also offers competitive daily rewards with its Power Piggy feature. You can earn high APY through this tool by staking tokens for a single day. 

For instance, the Power Piggy feature offers a standard APY of 16% for staking USDT. However, those holding between $500 – $10,000 worth of BTR tokens get a 1.024x multiplier on the standard base rate. A 1.2x multiplier is applied if you hold more than $10,000 worth of BTR tokens.

Staking Rewards on Cryptocurrencies Varies depending on the token; get additional APYs by holding the BTR token
Min & Max Staking Amounts Minimum of $10 (crypto equivalent); maximum $100,000
Lock-In Period Differs depending on the coin/token – as less as 1 day
Security & Regulation Features
  • Two-factor authentication
  • Stores assets in cold storage
Additional Rewards Offered Bonuses to BTR token holders, rewards for completing KYC, taking out your first futures position
Payout Frequency Varies depending on the coin/token

10. Margex 

Launched in 2019, Margex has developed into a crypto trading platform that allows investors to stake and earn passive income on some of the top tokens, such as Bitcoin, Ethereum, Tether, and Chainlink. 

On Margex, there are no lock-up periods for staking cryptos. Thus, investors can stake and withdraw their holdings at any time. Once tokens are staked on Margex, they are used for various purposes.

Margex staking

For instance, the tokens provide liquidity to Margex order books and help in cross-chain arbitrage. Furthermore, the tokens are used to offer collateralized loans and for liquidity farming. 

One of the major advantages of staking with Margex is that investors can actively trade their locked-in tokens. You can earn up to 5% APYs in some instances. For example, staking USDT and USDC will allow investors to earn up to 5% APYs, whereas BTC offers 3%. 

For security purposes, Margex uses an MP shield to avoid price manipulation.

Staking Rewards on Cryptocurrencies Up to 5% – depends on the token
Min & Max Staking Amounts Minimum of $30 (crypto equivalent); no maximum stated
Lock-In Period Differs depending on the coin/token
Security & Regulation Features
  • Uses MP shield to avoid price manipulation
Additional Rewards Offered N/A
Payout Frequency Daily payout

11. Nexo

Nexo offers an “Earn” feature similar to staking in crypto. This feature allows investors to earn a predictable income stream on their idle crypto assets. With Nexo Earn, investors will receive compound interest on their investments and daily payouts. This is a great option for those looking for the best DeFi interest rates.

Investors can earn rewards “in kind” or be paid in NEXO, the platform’s native token. Those who opt for the latter can receive an additional 2% yield relative to the standard setup. Regarding APY, investors can receive up to 12% if they’re on the “Platinum” tier.

Nexo staking

This tier is reserved for those who hold over 10% of the crypto portfolio in NEXO tokens. At the time of writing, this leading DeFi lending platform offers over 35 cryptos to stake and is available in more than 200 jurisdictions globally. The platform even has top-tier insurance to protect clients in the unlikely event of hacks or private key loss.

Staking Rewards on Cryptocurrencies Up to 12% on the “Platinum” tier
Min & Max Staking Amounts Minimum depends on the coin; no maximum limit is specified
Lock-In Period Flexible, one month, three months, six months
Security & Regulation Features
  • Has insurance in place for clients
  • Offers “whitelisting” feature
Additional Rewards Offered Up to 2% extra yield if paid out in NEXO tokens
Payout Frequency Daily

12. OKX

One of the best crypto staking platforms for those looking to stake ETH is OKX. It has a dedicated staking feature for Ethereum 2.0, which is ideal for investors who wish to participate in the network’s validation without running their own node.

The minimum requirement to use this feature is 0.1 ETH, which equals just $405 at the time of writing. Rewards are based on the on-chain locking amount, often varying between 4% and 20%. Importantly, these rewards are distributed in BETH, which can be instantly redeemed for ETH.

OKX staking

In addition to offering some of the best crypto staking rewards on Ethereum, OKX also has an exciting airdrop feature. Users who hold new BETH positions for 30 consecutive days will receive additional tokens via an airdrop. In other words, the more BETH you hold, the greater the airdrop eligibility.

Staking Rewards on Cryptocurrencies Between 4% and 20%
Min & Max Staking Amounts Minimum 0.01 ETH; no maximum specified
Lock-In Period No lock-in period
Security & Regulation Features
  • Public proof of reserves
  • Address whitelisting feature
Additional Rewards Offered N/A
Payout Frequency Daily

13. Bybit

Bybit is another top crypto exchange that allows users to grow their crypto holdings through staking. This process is facilitated through “Bybit Earn,” which supports over 30 coins/tokens. At the time of writing, the APYs offered through Bybit Earn stretch all the way up to 30%.

The platform offers various lock-in durations, ranging from flexible up to one month. The longer the lock-in duration, the higher the yield. Notably, Bybit also has an “Auto-Earn” feature that automatically transfers eligible cryptos to the Earn mechanism, allowing investors to maximize their returns.

Bybit home page

Bybit Earn offers some of the top new cryptocurrencies, such as APT and FITFI. Additionally, Bybit provides ETH 2.0 liquid staking and liquidity mining, ensuring more earnings opportunities for experienced investors.

Staking Rewards on Cryptocurrencies Up to 30% APY
Min & Max Staking Amounts N/A
Lock-In Period Flexible and fixed timeframes offered (e.g., three days, one month)
Security & Regulation Features
  • Multi-signature technology to protect client funds
  • Uses IP detection and verification
Additional Rewards Offered N/A
Payout Frequency Yield accrued daily

14. Crypto.com

Crypto.com is a crypto staking site designed to appeal to investors of all experience levels. The staking feature is called “Crypto.com Earn” and allows users to stake over 20 crypto assets, including lesser-known tokens like ONE and NEAR.

This feature even works with coins that aren’t based on Proof-of-Stake (PoS) protocols, significantly enhancing the options available to investors. Moreover, investors can select their staking amount and term (flexible, one month, three months) to tailor their rewards ratio.

Crypto.com staking

The Crypto.com staking rewards are also based on how many CRO tokens the investor chooses to lock up. CRO is Crypto.com’s native token, so the more tokens utilized, the higher the investor’s yield. Those who lock up over $40,000 worth of CRO can receive up to 4% more staking rewards.

Rewards are paid weekly, with private members receiving an additional 2% yield relative to regular clients. Users must hold a Frosted White Gold, Icy White, or Obsidian Crypto.com credit card to become a private member.

Staking Rewards on Cryptocurrencies Up to 6.5% on stablecoins; up to 12.5% on non-stablecoins
Min & Max Staking Amounts Minimum varies depending on coin/token; maximum is $100,000 (crypto equivalent)
Lock-In Period Flexible, one-month, or three months
Security & Regulation Features
  • Utilizes biometric authentication
  • Has a “Bug Bounty” program set up
Additional Rewards Offered Earn extra yield by staking more CRO tokens
Payout Frequency Varies based on crypto asset and staking period

15. Binance

Binance needs no introduction, as it remains the world’s largest cryptocurrency exchange, regularly handling over $6.7 billion in daily trading volume. Due to this exchange’s size, it has enormous credibility within the space, making it one of the best crypto staking platforms.

Binance’s “DeFi Staking” feature offers staking opportunities on 14 coins/tokens, including ETH, XRP, AAVE, and LTC. APRs vary depending on the asset but typically range from 0.2% to 6%. Each crypto asset has a minimum staking amount, although users can opt for “flexible” lock-in or fixed, depending on their preferences.

Binance staking

Although it’s not the best APY crypto staking site on our list, Binance offers other features, such as ETH 2.0 staking. This differs from the DeFi staking feature mentioned above since rewards will be paid in BETH. With ETH 2.0 staking, users will receive daily rewards and can redeem their BETH tokens for ETH at any time.

Staking Rewards on Cryptocurrencies Up to 6% APR
Min & Max Staking Amounts Varies depending on the coin/token
Lock-In Period Can choose between flexible, 30-day, or 12-day
Security & Regulation Features
  • Keeps most client funds in cold storage
  • Utilizes two-factor authentication
Additional Rewards Offered N/A
Payout Frequency Daily

16. MyCointainer

When it comes to asset selection this is one of the best crypto staking platforms. Crypto investors can access staking opportunities on over 120 crypto assets and receive yields that exceed 100% per annum. Importantly, MyCointainer is a licensed partner of Fireblocks, enhancing the platform’s security.

There are various ways to earn with MyCointainer, including “cold staking,” which sees investors delegate their tokens to MyCointainer’s nodes. This allows investors to participate in the security of the related network, all while earning the same rewards and benefits as with the standard staking process.

MyCointainer staking

Investors can boost their earnings even further thanks to MyCointainer’s airdrops, giveaways, and cashback. This latter feature is particularly exciting since cashback is offered from over 2,300 global retailers and can reach up to 7% per transaction with some companies.

Staking Rewards on Cryptocurrencies Up to 109%
Min & Max Staking Amounts Minimum depends on coin/token; no maximum stated
Lock-In Period No lock-in period
Security & Regulation Features
  • Uses SSL encryption
  • Offers a “cold staking” service
Additional Rewards Offered Cashback and free coin airdrops
Payout Frequency Daily

17. Aave

Aave is a decentralized platform that allows investors to borrow and lend crypto tokens. The staking process on this platform works by users staking AAVE, the platform’s native token, to help secure the protocol.

To begin the staking process, you need a compatible wallet and some AAVE tokens. Yields can range to 12.22%, and rewards are distributed as additional AAVE.

Aave staking

Like most staking protocols, the exact yield depends on the number of AAVE tokens staked and the length of time they’re staked for. Finally, although many investors conduct staking directly through the protocol’s interface, AAVE can also be staked using most top brokers and exchanges.

Staking Rewards on Cryptocurrencies 6.14% to 12.22%
Min & Max Staking Amounts N/A
Lock-In Period 10-day “cooldown” period when unstaking
Security & Regulation Features
  • Smart contracts are audited regularly
  • Insured by Nexus Mutual
Additional Rewards Offered N/A
Payout Frequency Varies based on the amount of funds deposited and utilization rate

What is Crypto Staking?

Crypto staking is a way for investors to earn rewards while locking cryptocurrencies on a staking platform for a predetermined amount of time. This process is popular because it enables investors to generate a yield on assets without having to trade them on a daily basis.

On-Chain & Off-Chain Staking

When looking for the best crypto staking platform of 2024, it’s also essential to understand what on-chain and off-chain staking are and the differences between them.

  • On-Chain Staking: This is when tokens are staked directly on the blockchain network. Stakers must lock up their tokens using a wallet and may also have to operate a node.
  • Off-Chain Staking: This process involves staking through an intermediary, such as a broker or exchange. Stakers give their tokens to the intermediary, who stakes them on their behalf.

On-chain staking is considered more decentralized and secure, although it can be more complex, which may be off-putting to beginners. On the other hand, off-chain staking is much more accessible since the intermediary handles all technical aspects. Moreover, this approach often requires a lower minimum staking amount. However, since a third party manages the user’s tokens, there are always security risks to be aware of.

How Does Staking Crypto Work?

Here’s a brief overview of how the staking process works:

  • Decide which crypto to stake
  • Purchase some coins/tokens
  • Choose a staking method
  • Decide which staking platform to use
  • Begin staking
  • Unstake coins/tokens

The steps above will vary depending on the blockchain and other factors, although they typically follow this structure. Each staking token will have its own yield attached, so it’s wise to shop around and find a token to provide the desired rewards.

However, it’s also essential to know the risks associated with staking. Since tokens will be “locked up,” there’s a possibility for their value to decrease in the interim. Moreover, there’s also a chance that even the best staking crypto platform could be compromised and funds stolen. Although this is unlikely, it’s crucial to understand that it is possible.

Benefits of Staking Crypto

Choosing the highest APY crypto staking site and locking up tokens is a popular process among thousands of investors globally. But why is this process so popular? Let’s take a look at some key reasons below: 

Provides Passive Income

Naturally, one of the main benefits of staking crypto is that it allows investors to generate passive income. By locking up their tokens, investors will earn rewards in the form of additional tokens.

Since this income stream is inherently predictable, staking can be an appealing opportunity for those looking to maximize their idle crypto assets. Moreover, the process is relatively “hands-off,” which is ideal for beginner investors. 

Contributes to Network Security

Another critical benefit of staking is that it allows investors to contribute to the security of a specific network. For example, if an investor stakes ETH, they’re effectively helping validate the transactions that occur on the network.

Even by using the best crypto staking platform, investors can still indirectly help maintain the integrity of blockchain networks. In turn, this helps protect the network from cyberattacks or fraud.

Access to Voting Rights

In many cases, staking crypto gives investors access to voting rights. This is mainly the case with DAOs since they are effectively governed by token holders who vote on proposals.

Although this doesn’t equal additional financial gain, staking crypto is a powerful way for investors to help shape the development of specific blockchain networks.

Incentivizes Long-Term Investment Horizons

Like using the best yield farming crypto platforms, crypto staking can incentivize investors to hold their crypto assets long-term. This is because many crypto staking sites require a lock-in period, meaning investors can’t access their holdings for a set number of days.

The more people that opt to hold over the long term, the less volatile the broader crypto market becomes.

Do You Pay Tax on Crypto Staking?

It’s natural for investors to wish to avoid crypto taxes, which is no different for those involved in the staking. However, crypto staking income is usually taxable, although this will vary depending on which country the investor resides in.

Using the US as an example, staking rewards are considered income. This means that investors must report what they have earned on their tax returns. Failure to do so could result in a penalty.

To ensure investors stay compliant, it’s best to keep detailed records of all staking transactions, such as how much rewards have been earned and when the staking process began. Some investors may even wish to use crypto tax software, which can streamline the process and guarantee accurate reporting.

Is Cryptocurrency Staking Safe?

Like any investment type, staking does carry certain risks. However, if investors understand these risks and accept them, staking can be a great way to maximize potential returns.

The main worry with staking is usually related to the blockchain network and exchanges. Even the best exchange to stake crypto could be the subject of a cyberattack or a security breach if someone were to infiltrate the related blockchain network. Thus, it’s crucial only to stake cryptos from reputable and secure networks.

Another safety aspect to consider is the overall volatility of the crypto market. Many of the most volatile cryptos are “stakeable,” meaning there’s always a risk that the value of staking rewards could go up or down. Investors can mitigate this by diversifying their portfolio by purchasing more than one staking crypto.

However, on the whole, staking crypto is a relatively safe option compared to other strategies like scalping and day trading. By using a secure staking platform like Coinbase and only investing in high-quality tokens, investors can give themselves the best chance of creating a recurring income stream.

Is Crypto Staking Worth it?

Staking can be an attractive opportunity for investors looking to maximize their income. However, as with all investment actions, whether something is worth it will ultimately come down to the investor’s goals and risk tolerance.

The main benefit of staking is that it provides a predictable income stream. This aspect can be particularly appealing during economic turmoil since yields are often higher than what can be obtained in “traditional” savings accounts.

Moreover, avid stakers naturally diversify their portfolios by purchasing different coins and tokens. As experienced investors will know, diversification is crucial to optimizing an investment portfolio’s risk/return profile.

However, since staking also carries certain risks, such as the possibility of the token’s value decreasing or the network being compromised, it can’t be considered a “bulletproof” approach. As such, investors must weigh the pros and cons before deciding if it’s worth it.

Conclusion

Choosing the best crypto staking platforms is important for crypto investors looking to earn passive income. Their main advantage is that you don’t have to check your investments every now and then. You just have to pick the best platform, lock your coins, and wait to withdraw yields.

Don’t forget to follow the steps we described above when selecting the proper platform. A lot of them offer similar features, but not all deserve your time and attention.

One platform that stands out from the crowd when it comes to crypto staking is Dogeverse. It provides huge yields with an APY of 70%. A total of over 22 billion tokens have been staked so far, showing strong investor trust.

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Connor Brooke
Editor
Connor Brooke
Editor

Connor is a Scottish financial expert, specialising in wealth management, equity investing, and blockchain technology. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, including Techopedia, whilst also helping write business plans for SMEs seeking funding. Holding a Bachelor’s degree in Finance from the University of Strathclyde, and a Master’s degree in Investment Fund Management from the University of Glasgow, Connor has extensive knowledge in the investing space. He has authored two theses on mutual funds and the UK market - one of which was chosen for publication.