1. Home
  2. /
  3. investing ideas
  4. /
  5. crypto
  6. /
  7. 8 Best Coins for...

8 Best Coins for Staking: Choose Only the Most Rewarding Tokens to Stake

Choose Only the Most Rewarding Tokens to Stake

Cryptocurrencies have come a long way since Bitcoin first emerged from the ashes of the 2008 financial crisis. What started as an obscure online money experiment has evolved into an entire digital asset ecosystem with over $1 trillion in value.

As strange as this may sound, one way these magical internet coins increase their value is through a process called staking. Crypto staking is more akin to parking your coins in a high-yield savings account. By locking up your crypto holdings, you can passively earn rewards just for securing the network.

The top staking options range from legacy platforms launched in 2015 to slick newcomers that grew faster than my neighbor’s bamboo. (Seriously, I’m worried it may take over the whole block if someone doesn’t tame it soon.) In this article, I break down the 8 best crypto picks for staking rewards in 2024. Time is money, so let’s dive in!

Staking Coins List – Stuff Your Bags With These Cryptos

Sure we’ve weathered a bunch of crashes, scams, and wacky coins (can you say Doge?), but the crypto future remains bright with millions worldwide now staking their claim. 

When you stake stable coins, it’s not your ordinary nerve-wracking experience. Think of crypto staking as less mining for digital gold but rather planting seeds or accruing interest. By locking up select coins in their native wallets, users uphold the network and earn anywhere from 5% to 15%+ in yield annually. The options run the gamut – from legacy giants like Ethereum to niche ecosystems like Cosmos – all rewarding savvy “farmers” with more crypto simply for securing the protocols. So let’s explore the 8 most fertile grounds for planting staking seeds in 2024!

Ethereum (ETH)

Ethereum (ETH)

Ethereum was launched in 2015 as a “world computer” for decentralized apps. Grew slowly until the 2017 ICO boom. Now #2 coins with 90% of De Fi. Merged to PoS in 2022 to scale for mass adoption.

  • Transitioning to proof-of-stake consensus with the Merge in 2022
  • Over 400,000 validators already staking on the Beacon Chain
  • Ethereum staking APY around 5-7%
  • Upgrade to sharing & ETH 2.0 will bring more scalability/rewards

Cardano (ADA)

Cardano (ADA)

Created in 2017 by an Ethereum co-founder. Obsessively engineered for scalability. Sparred with crypto rivals over the pace of development. The staking mechanism fueled growth in 2021. Now in the top 10 market cap.

  • Proof-of-stake blockchain built specifically for staking
  • Over 70% of the circulating supply is currently being staked
  • Cardano staking APY around 4-6%
  • Significant growth potential as developers build on the platform

Polkadot (DOT)

Polkadot (DOT)
Emerged in 2020 with a shared multichain architecture. Quickly reached top 10 places to stake crypto thanks to strong staking incentives and Parachain buzz. The founder was ousted in the 2022 Shake-up but is still a leading stake contender.

  • Unique multi-chain approach allows cross-chain composability
  • Nominated Proof-of-Stake secures the network with high staking ratios
  • Polkadot staking APY around 13-15%
  • Parachain auctions incentivize locking up DOT for up to 2 years

Cosmos (ATOM)

Cosmos (ATOM)
Born in 2014 by the founders of Ethereum. Nicknamed the “Internet of Blockchains” for its framework to connect disparate networks. Staking incentives promoted early decentralization. Now allows projects from crypto gaming to DeFi to launch synchronized blockchains.

  • Internet of Blockchains with several stackable assets
  • High staking participation secures the network
  • Cosmos staking APY around 10% for Cosmos Hub
  • Airdrops rewarded to ATOM stakers

Solana (SOL)

Solana (SOL)
Appeared in 2020 promising 50,000 TPS speeds with Proof of History. Marketed as “Ethereum Killer” as the network outpaced rivals in 2021 growth. Suffered setbacks in 2022 with network outages but still a top 10 coin thanks to vibrant NFT & GameFi ecosystems.

  • Fastest growing ecosystem in crypto to earn passive income
  • Proof History consensus needs high staking participation
  • Solana staking APY around 7-8%
  • High inflation pays staking rewards but dilutes unstaked SOL

Algorand (ALGO)

Algorand (ALGO)
Founded in 2017 by MIT professor and Turing Award winner Silvio Micali. Used a novel consensus method called Pure Proof-of-Stake. Drew praise for carbon-negative & democratic ethos. Recently focused on FIFA sponsorship and CBDCs. Now angling to be the backbone of Web3.

  • Pure proof-of-stake consensus protocol
  • Easy staking through the official Algorand Wallet
  • Current APY around 5-7%
  • Accelerated vesting increases circulating supply & staking rewards

Avalanche (AVAX)

Avalanche (AVAX)
Initiated in 2020 by Ava Labs which also created blockchains for institutions. Promised low fees and blazing 4.5-second finality. Experienced meteoric growth in 2021 led by subnets and De Fi. Hit over $150 per AVAX before crypto winter but still primed for institutional adoption.

  • Innovative platform for launching custom blockchains
  • Validators stake for security and earn transaction fees
  • Current staking APY around 10%
  • High TVL growth increases rewards for stakers

Polygon (MATIC)

Polygon (MATIC)
Began in 2017 as an easy plug-and-play scaling solution for Ethereum. Revenue and activity exploded in 2021 with over 1.2 billion transactions. A brief rebrand to “Polygon” reflected ambitions beyond layer 2. Staking allowed both big-picture platform growth alongside niche community apps. Still the top framework for reducing Ethereum congestion.

  • Scaling solution secured by a network of staking validators
  • Current staking APY around 10-12%
  • Trillion+ total transactions demonstrate real-world usage
  • Critical layer 2 infrastructure for Ethereum

Best Stable coin Staking: Safely Earn Double Digit Returns

With cryptos as volatile as a young dragon in training, staking stable coins has emerged as a way for investors to steadily earn yields without worrying about price drops or bear market chaos.

Tether (USDT) emerged in 2014 as one of the first stable coins pegged 1:1 with the US dollar. This means whether cryptos are bullish or bearish, 1 USDT should equal $1. Though Tether has faced controversy over its dollar reserves, it remains the most widely used stable coin with over $65 billion in circulation fueling crypto trading on exchanges worldwide.

Circle’s USDC entered in 2018 as a fully regulated alternative stable coin backed by US dollars and audited reserves. Over 50 billion USDC now flows through blockchains like Ethereum facilitating deception-resistant transactions. USDC’s transparency and rapid growth have made it a favorite stable coin for De Fi protocols and crypto yield generation.

Staking stable coins offers crypto holders a way to earn returns while avoiding the stomach-churning volatility of non-pegged assets. On platforms like Aave and Curve, users can stake USDT or USDC into liquidity pools or as collateral for loans while earning up to 10% back annually. Decentralized exchanges allow providing liquid stable coins for swap fees. And Ce Fi platforms like Nexo or Celsius accept stablecoin deposits for up to 12% fixed interest lending yields. Though lacking upside potential, staking the most profitable staking coins guarantees reliable crypto income immune from unpredictable crypto price swings.

Best Crypto Staking Platforms: All Gain, No Pain

Once upon a time, earning passive crypto income required advanced wizardry – navigating convoluted spells and managing temperamental potion brewing rigs. But thanks to valiant platforms like Crypto Stake, average investors can now stake a claim to blockchains’ bountiful rewards.

CryptoStake set out in 2021 on a noble quest – to open cryptostaking’s treasure trove for all to share, not just ambidextrous alchemists. This Swiss startup concocted a magical one-click app so anyone can become a validator across leading PoS networks like Cardano’s vast kingdom. Their patented no-code potion means no more fiddling with arcane code or babysitting staking nodes, freeing you to go slay dragons while compounding interest works its magic!

Other righteous staking crusaders include Trust Wallet – a crypto guardian offering a gateway to passively grow holdings across multiple blockchains. Integrated directly into Binance’s vast ecosystem, users can stake DOT, ATOM, and more with confidence their coins rest in trusted hands.

Meanwhile, Exodus provides a user-friendly spell book for both crypto staking and swapping across desktop and mobile. Their otherworldly UI guides gamers and De Fi mages to maximize yields on coins like ALGO and SOL using integrated exchange features.

So whether you crave Crypto Stake’s hassle-free automation, Trust Wallet’s robust security, or Exodus’s sleek onboarding, plenty of heroes now guard profitable staking pathways from greedy goblins. Simply plant your seed coins and watch rewards sprout faster than enchanted beanstalks!

Best Wallets for Staking Crypto

Securing your magical internet money required entrusting keys to dubious guardians or wrestling with enchanted contraptions stuffed in cold dungeons. But thanks to the best crypto wallets for staking like Crypto Stake, anyone can now safeguard and grow their crypto hoards with ease and earn the highest APY crypto staking.

Crypto Stake’s mobile app quest began by cobbling together best-in-class encryption spells and rigorous safety trials by wizard auditors. This ensured not even Smaug the Terrible could stealthily siphon your coins or ETH seeds. Their slick and intuitive interface lets crypto novices and veterans alike trade assets like BTC and DOT at lightning speeds in just a few spellcasting taps.

But Crypto Stake’s app doesn’t just excel at secure storage and swapping. Built-in staking magic allows growing your ETH and ATOM simply by locking coins to reinforce blockchain networks. Competitive yield rates give holders an incentive to fortify protocols while enjoying 5-15% annual rewards.

Other high yield crypto staking wallet champions include Exodus with its gorgeous designs optimizing desktop and mobile yield harvesting. Trust Wallet’s integration with Binance also provides a seamless gateway to securing and staking coins across multiple ecosystems.

So whether you prioritize beautiful UX, robust security, or simplified staking, today’s top crypto wallets equip anyone to guard digital assets while reaping handsome rewards. The days of grappling with arcane keys and clunky hardware are long gone – now let the magic compound!

FAQ

What is staking crypto?

Staking crypto involves locking up a certain amount of cryptocurrency in a wallet to support the operations of a blockchain network. In return for staking, participants are rewarded with additional cryptocurrency tokens as a form of interest or yield.

How does staking crypto work?

Staking crypto typically works by selecting a specific amount of cryptocurrency to be locked up in a wallet designated for staking. This locked-up amount acts as a security deposit to validate transactions and maintain the integrity of the blockchain network. In most cases, stakers are chosen to validate transactions based on the amount of cryptocurrency they have staked and for how long they have staked it. The longer the staking period and the more cryptocurrency staked, the higher the potential rewards.

What is the best crypto to earn interest?

The best cryptocurrency to earn interest through staking depends on various factors, including the current staking rewards, the stability and growth potential of the cryptocurrency, and the individual’s risk tolerance. However, some popular options for earning interest through staking include Ethereum (ETH), Cardano (ADA), Polkadot (DOT), Cosmos (ATOM), Solana (SOL), Algorand (ALGO), Avalanche (AVAX), and Polygon (MATIC). Each of these cryptocurrencies offers staking rewards to users who participate in securing their respective networks.