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In 2021 we saw an exponential growth for DeFI, up nearly 1000%, with more than $200 billion closed, and intervening becoming one of the most lucrative ways to earn passive income and enjoy returns on investment.
Simply put, staking is like an interest-bearing savings account with a typical bank, except that compared to the returns you might get from your bank (usually 2-3%), the average rewards are usually between 5-30%, with Some crypto platforms offer more than 100%.
Understandably, staking is especially popular during bear markets, where crypto investors simply hold their investments, rather than selling at a loss, while earning high rewards for doing so. Below we have shared about 5 of the best tokens to get in 2022.
Terra (LUNA), an open source stablecoin network, has reached an all-time high of $20.05 billion in closed total value, or TVL, across its 13 offerings, according to industry data. On December 1, Terra’s TVL cost $11.9 billion, marking a 68% increase in less than a month. This means that users of the platform invest large amounts in the protocol to receive staking rewards.
The price of LUNA, the original Terra token, is steadily trending higher, as it is currently trading above $90, up over 12000% from its price of $0.7 in January 2021. The total market capitalization of the coin is now $34.8 billion, putting it in the Top 10 Crypto Projects. LUNA’s annual staking reward is around 12.10%, which is a huge return that makes this one of the best cryptocurrencies to engage in.
Goodstar (JED dollar)
JEDSTAR is the ‘new kid on the block’ in terms of projects, but he’s already starting to make waves in the crypto world with his unique approach to some of the problems plaguing the crypto world. concepts such as the property rights of NFT creators; Mining via a mobile app to allow low-economy residents to earn income; Anti “pumping and dumping” mechanisms – to name a few. But the important thing is KRED dollars – “Currency as a Service”. This will be the project’s first independent cryptocurrency that will allow game developers a “plug and play” solution to turn their game into a true GameFi, without having to manage their own cryptocurrency – and allowing access to a global currency.
The coin launched at $0.0001 and saw an all-time high of $1.13 in November, and is currently at a good entry level at $0.39.
On the staking front, JEDSTAR allows their $JED utility token to be stored on their platform in exchange for rewards worth $KRED on their STARSTAKING platform, which you can find at https://jedstar.app. Bonuses range from 5x (500%) for 30 days, up to 120x (120,000%) per year!
PancakeSwap is a fun and popular storage platform that offers users the ability to bet any CAKE coins they have earned. When you bet on CAKE coins, you can choose to win additional cake or other types of coins.
Compared to platforms like Ethereum, transaction fees are much lower with Binance Smart Chain. Once you earn rewards on PancakeSwap, you can either claim them or reinvest them in the platform. CAKE’s annual returns range from 31 to 42%, making it one of the best cryptocurrencies in the market.
Shiba Inu (Chip Dollar)
The SHIB token is designed to outpace Dogecoin’s growth without hitting $0.01. Many investors see SHIB as an addition to their crypto portfolio, as an asset to buy and hold. Now, the launch of the ShibaSwap exchange has created a much broader benefit for SHIB because its holders can share (bury) and farm (dig) their tokens. Shiba Inu is unique because, while running on Ethereum (currently PoW), the initial supply of SHIB was poured at launch, which means that you cannot mine the token.
On the ShibaSwap exchange, SHIB holders can stake (bury) their Shiba coins, representing their original SHIB holdings, the staking rewards are BONE tokens and 0.03% of the exchange’s ETH swap transaction fees.
Solana is an efficient blockchain designed with scalability in mind. This scalability is achieved through Solana’s low fees and fast transactions. When it comes to the extremes of the cryptocurrency market, Solana ranks seventh. SOL is one of the best staking coins due to the speed of transactions and the low cost of completing them. Most transactions are completed in a few seconds. While you cannot manage your own node when storing on the Solana network, there are more than 640 validators that you can use your coins to collect.
When you delegate your stake to Solana’s auditors, you will be able to participate in the rewards these individuals receive. SOL coins have done very well over the past few months, reaching an all-time high of $210 per coin. When you bet your coins with Solana, you can expect to get annual returns ranging from 7 to 11%.
Note: Investing in cryptocurrencies is subject to risks and readers should conduct their own due diligence. Entrepreneur Media does not endorse any such investment.