Staking has become a very popular feature offered by a variety of different crypto platforms. Given the benefits, it’s not really surprising.
Earning rewards while making blockchains more secure can be beneficial to both the user and the platform. But you can’t risk every coin, and some offer better betting bonuses than others.
So, what are the best coins to hoard?
1. Ethereum (ETH)
You may have already heard of Ethereum. It is the most valuable digital currency and the second most valuable cryptocurrency after Bitcoin. You can buy and sell Ethereum on a wide variety of exchanges, and you can also stake it.
However, unlike many other cryptocurrencies, staking Ethereum independently is not for beginners in the market. You must be able to participate, thus owning 32 ETH to become an independent validator. At the moment, that amount comes to nearly $130,000, which is not an easy sum. This is the rule of 32 ETH, but you can solve it.
If you do not have 32 ETH, you can join a staking pool, where multiple users can collaborate and each stake less than their own ETH. Many exchanges offer staking pools as an option, so it is worth considering if you want to participate in ETH without putting up a large amount.
So, why is ETH so great for storage? First, a wide range of popular exchanges offer staking Ethereum. This includes Coinbase, Kraken, Binance, and Bitfinex. It is always worth making do with a more popular platform, as it is usually safer and can offer higher rewards.
In addition, placing Ethereum on some exchanges can lead to healthy income. While this is often subject to change, you can find rewards ranging from 4% to 10% annually, depending on the platform you have chosen.
2. Polkadot (DOT) via Slot Auctions
The process of earning rewards via DOT is a little different from the other cryptocurrencies on this list, as it does via slot auctions. Slot auctions involve lending your DOT to projects in the Polkadot Network so that you can become a Parachine by bidding in an auction. Parachains are independent chains that run in parallel with the Polkadot blockchain. If your project of choice wins, they will usually reward you with their original code.
Several exchanges allow you to participate in DOT auctions, including Binance, Huobi, and Kraken. The great thing about these auctions is that you can earn rewards by supporting other projects and giving them a chance to become a Parachin. And if your chosen project loses, you will still get all the money you lent back.
3. Tezos (XTZ)
Tezos is another popular cryptocurrency that you can participate in on a wide range of reputable exchanges, such as Binance and Kraken. You can also share it using various software and hardware wallets, such as Ledger and Exodus.
So, why Tezos to bet? Regardless of the range of staking platforms available, you usually don’t need a lot of Tezos to bet. Most platforms require at least one XTZ or less, making Tezos staking available to just about anyone. On top of that, there are some great rewards on offer for purchasing Tezos.
Bonuses are subject to fluctuations, but you can usually earn between 4% and 8.5% depending on the platform you use and how long you earn your XTZ.
4. Cardano (ADA)
Cardano may not be a very valuable coin at the moment, but it is certainly very popular, with a 24-hour trading volume of nearly $1.5 billion. You can share ADA on platforms like Bitfinex, Yoroi, and Kraken. So, why share ADA?
First, you don’t usually need a lot of ADA to install. ADA is very affordable to buy, with a current value of about $1.30. Most platforms have low minimum requirements which makes Cardano an open door for just about anyone. Moreover, the rewards are not too bad either. Currently, the largest platforms offer annual bonuses between 3% and 6%. However, this can vary on some exchanges, such as Binance, if you share your ADA for longer periods.
5. Algorand (something)
Like Cardano, Algorand is a very affordable cryptocurrency that you can share on a variety of exchanges and wallets. These include Coinbase, Exodus, and Trust Wallet. You will have a suitable selection of platforms to choose from if you wish to share your ALGO.
The number of ALGO you need to start stocking varies depending on the platform you choose. Even higher minimum requirements, like the one mentioned by Binance, won’t cost you more than a few hundred dollars. Therefore, if you are in the market to make this type of purchase, or already have a large amount of ALGO, staking should not be an issue.
Most of the reputable platforms offer decent reward rates usually between 3% and 10%, although these can change.
6. Polygon (Matic)
The polygon is another great option for installation. There are many platforms that you can participate in MATIC, including Gemini, KuCoin, and FTX. Polygon is currently very affordable to buy, so you don’t need to splash out on cash to get a decent amount of it.
In addition, many exchanges and wallets offer some healthy annual bonuses for purchasing MATIC. For example, you can earn 10% APY by placing your MATIC on KuCoin, a popular crypto trading platform. However, these prices change depending on the market situation and your chosen platform.
7. Cosmos (ATOM)
You can share Cosmos in many different ways: via an exchange, a software wallet, or a hardware wallet. Although the ATOM is a bit more expensive than some of the coins on this list, it is by no means expensive. Most people can participate in it.
You can earn 5%-10% rewards with staking Cosmos, and you will usually only need a very small amount of ATOM to start the staking process. It’s a great stock option and can earn you a little side income.
Keeping up is a great way to make money passively
If you have some amount of cryptocurrency, or you are interested in investing for the long term, staking is a great way to earn rewards or to earn some extra income without having to sell a single coin. So, if this interests you, consider placing one of the coins above, on a trusted platform, to get some great rewards.
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