Best Cryptocurrency Exchange Fees

The 7 Best Platforms That Charge Little to No Staking Fees

The 7 Best Platforms That Charge Little to No Staking Fees
Written by publisher team

As staking is becoming an increasingly popular feature offered by hundreds of different platforms, it is always wise to know what kind of fees you will have to pay for staking your cryptocurrency. Even if the rewards seem great, unexpected fees can creep up on you quickly.

So, which platforms offer little or no fees for staking? Let’s find out.

binance app on phone
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Binance is one of the most popular cryptocurrency exchanges in the world, and there are a lot of things about Binance that make it a great staking platform. Its secure network ensures that your money remains safe. Moreover, the set of supported tokens allows you to choose from many popular cryptocurrencies to share. This includes Bitcoin, Tether, Binance Coin, and Ethereum. So, how much does Binance cost for staking?

Nothing at all! While Binance charges fees for performing some other functions on the exchange, it does not charge users for staking. It is one of the only major international cryptocurrency exchanges that does not charge a cent for the purchase of any of its available coins. Although Binance may lock up your funds depending on the currency you share, the platform ensures that it is kept safe and secure.

screenshot of kraken . homepage

Kraken is another world-famous crypto exchange that is available in 48 US states and 176 other countries. Kraken not only supports trading over 90 coins, but also allows you to participate in a variety of tokens, such as Algorand, Cardano, and Ethereum, all of which have very good annual returns. So, what kind of fees do you have to pay when you sign up for Kraken?

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Related Topics: What is cold staking and is it better than online staking?

Well, like Binance, Kraken does not charge staking fees! While you will incur the costs of buying or selling cryptocurrencies on Kraken, you can bet on a wide range of tokens without having to give the platform a portion of your rewards. You can either buy some of the cryptocurrency you want on Kraken for storage or simply transfer funds to your account from somewhere else.

Atomic wallet website screenshot

Unlike Kraken and Binance, Atomic Wallet is not a cryptocurrency exchange. Instead, it is a software crypto wallet that you can access from your desktop or smartphone. But Atomic Wallet isn’t just a powerful option for storing your private keys; You can also earn a number of different coins, including Algoarand, Cardano, and Solana.

When it comes to fees, you may or may not be charged a small portion of your rewards depending on the currency you collect. If you want to participate in Zilliqa, Cardano or Solana, Atomic Wallet charges a fee of 5%. But if you are going to get one of the other supported staking coins, such as Algorand or Komodo, you will not incur any fees at all. So make sure you know if your desired currency has a storage fee or not before you start storing with Atomic Wallet.

bitfinex screen magnified
Image Credit: marcoverch / Flickr

Founded in 2013, Bitfinex has become one of the largest cryptocurrency exchanges in the world – with a daily trading volume of over $800 million. You can participate in a number of different cryptocurrencies on Bitfinex, including Cosmos, Solana, and Tezos, with varying but worthwhile reward rates for each. Bitfinex uses something called soft storage, where users can share their money without having to lock it. This can be very useful, as users just need to keep some cryptocurrency in their Bitfinex account in order to participate.

When it comes to fees, Bitfinex outperforms many other exchanges in that it doesn’t charge a fee at all for staking – even though the platform does keep a small percentage of staking rewards. Like Kraken and Binance, you can share your cryptocurrency on Bitfinex without any frustrating fees. Combine this with Bitfinex’s soft wedge template, and you’ve got a great option to install.

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Stake Capital is a trusted decentralized finance (DeFi) platform that allows you to share a list of different cryptocurrencies, including Cosmos, Tezos, and Loom. You can even find a couple of less popular staking tokens on Stake Capital that are not supported by major exchanges, such as Livepeer. So, let’s now talk about fees.

Related Topics: Best Places to Acquire Tezos (XTZ)

As with Atomic Wallet, Stake Capital fees vary based on the token you choose. If you want to participate in Cosmos, for example, Stake Capital takes a commission of 8% of your rewards. However, if you want to participate in Tezos, Stake Capital will not get any commission at all. Be sure to check the commission rates on the Stake Capital website before you get started.

magnifying kucoin exchange screen
Image Credit: marcoverch / Flickr

KuCoin is a Hong Kong-based cryptocurrency exchange that supports all major cryptocurrencies, as well as a fair share of lesser known tokens. Of course, KuCoin also allows you to get a number of different coins, including Cosmos, Eos, and Zilliqa, although their cryptocurrency group has different fees. Like Bitfinex, KuCoin uses soft staking, and you can also find some less popular staking options on KuCoin, such as IOST or Wanchain.

KuCoin’s lowest mortgage fee is incurred when sharing Zilliqa, which currently comes in at 5%. With so many other backed KuCoin coins to store, you will have to give away 10% of your total rewards as fees. But this is still less than the fees you will often incur when delving into many other popular exchanges.

poloniex homepage screenshot

Founded in 2014, Poloniex has developed into a widely used international crypto exchange, with more than $95 million in digital assets traded every day. On top of the hundreds of supported trading currencies, Poloniex also has a few coins available for storage, including TRON and Cosmos. While the list of supported coins for storage on Poloniex is smaller than some of the other platforms, there is a factor that makes Poloniex a solid choice.

Like KuCoin and Bitfinex, Poloniex will not lock up your crypto funds. So, if you want to use Poloniex for hoarding, you can earn bonuses until the moment you decide to withdraw your money or sell it, which you can do without having to go through any long periods of no betting first. Now, for the cherry on top. Poloniex does not charge a staking fee! You can bet for free while keeping your money available to you. It really is a win-win platform in terms of staking!

Betting can be expensive, so it’s best to know your fees

Although staking can be very lucrative and a great way to earn passive income, it is crucial to know what kind of fees you will incur before starting any platform. So, if you want to bet on a platform while avoiding exorbitant fees, take a look at the options above, and enjoy the benefits of betting without losing a large part of your bonus.

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