Best Crypto Staking Platforms 2024 – Compare Top 10 Crypto Staking Providers

Are you interested in staking your crypto for passive income? Before you do that, follow this guide to discover the best crypto staking platforms based on available crypto to stake, customer support, custody and more.

Staking is currently one of the best ways to earn passive income as a cryptocurrency enthusiast in 2024. As the primary way holders of digital assets lock up their cryptocurrencies, using them as collateral to support the decentralization and security of blockchains, staking rewards are still high.

According to the latest statistics from Staking Rewards, the global rewards per year are around $6 billion, up from a benchmark reward rate of 5.44%. The same platform shared that the market capitalization for staking was about $266 billion as of this writing. While the best way to start staking crypto is through platforms that operate staking services for DeFi-related assets, some are better than others.

Top 10 Best Crypto Staking Platforms

Making the correct choice of a crypto staking platform is crucial as you embark on your investment journey. Here is the list of the top 10 crypto staking platforms below:

1. eToro – Overall Best Crypto Staking Platform for 2024  
2. StakingFarm – Payout Crypto Staking Rewards Daily
3. Coinbase – One of the Best Crypto Staking Platforms for 2024
4. KuCoin – High Staking Rewards Platform
5. Binance – One of the Most Profitable Crypto Staking Platforms
6. Crypto.com – Beginner-Friendly Crypto Staking Platforms
7. Kraken – Provides Staking Access to Several Cryptocurrencies
8. Nexo – Among the Most Sort-After Staking Platforms
9. Stakely – High-Quality Staking Platform
10. Uphold – Reliable Crypto Staking Platform

Best Crypto Staking Platforms – Detailed Reviews

Now that we’ve looked at the top 10 crypto staking platforms, let’s examine them in more details.

1. eToro – Overall Best Crypto Staking Platform for 2024

eToro is overall the best crypto staking platform for 2024 for providing staking service, copy trading tools, and advanced analysis features. The platform is a multi-asset exchange that began operations in 2007. The company activated the trading of Bitcoin (BTC) and cryptocurrencies as a whole in 2014. This was followed by the introduction of crypto-staking services in October 2020.

Like with many other large centralized staking platforms, users may find eToro a good option to stake their crypto assets due to the full regulations and trustworthy of the platform.

As a pioneering crypto trading platform, eToro can be accessed by traders in more than 100 countries and has millions of daily active users. As a result, it is not surprising to come across questions such as: does eToro support crypto staking? Let us examine the pros and cons of staking crypto services via eToro that will answer the question earlier stated.

Pros & Cons of Staking Crypto on eToro

2. StakingFarm – Payout Crypto Staking Rewards Daily

StakingFarm is the next staking platform that offer many crypto assets staking reward. The platform has been trending in 2024 thanks to the rebounding of the market. This rebound has seen Bitcoin surpass its previous all-time high (ATH). More importantly, it has also led to a spike in the valuation of the most sought-after proof-of-stake (PoS) coin, Ethereum (ETH).

The native asset behind the first smart contract-backed blockchain reached a yearly high price of $4,092 in March, a few thousand dollars shy of its ATH in November 2021.

As the name suggests, StakingFarm allows users to earn consistent passive income by holding a certain amount of their PoS coins and tokens with them.

To understand some of the reasons why you should consider using StakingFarm, kindly consider how you can sign up on the platform.

Firstly, you can visit StakingFarm by clicking on this link and providing your email address and username. Once done, you have to provide a password to secure your account. Secondly, you have to choose from the packages, and lastly, you start earning.

By choosing StakingFarm, you are not only making yourself eligible for passive income. Additionally, you are also contributing to the validation and security of PoS blockchains of the supported coins. More importantly, you are also diversifying your portfolio.  

Let us examine the pros and cons of this trending staking platform.

Pros & Cons of Staking Crypto on StakingFarm

3. Coinbase – One of the Best Crypto Staking Platforms for 2024

Coinbase is one of the most popular cryptocurrency exchanges. Aside from that, it ranks among the largest cryptocurrency exchanges by daily trading volume.

Coinbase’s popularity is primarily centered in the United States, where it is the biggest trading platform when trading volume is accounted for. Supporting more than 100 cryptocurrencies, Coinbase launched its staking service across the globe during the peak of the pandemic in May 2020 to rekindle people’s interest in digital currencies.

After a successful test of Tezos (XTZ) for US customers, the trading company opened the service to users worldwide. Crypto users in the United Kingdom, the Netherlands, Spain, and France have become beneficiaries of the enormous rewards staking provides DeFi enthusiasts.

After years of allowing users to earn a percentage of transaction fees and block rewards, Coinbase has expanded its staking service to include more cryptocurrencies. Like any other platform, you can enjoy staking services by signing up for an account with Coinbase before you can start earning rewards.

So should I stake on Coinbase? Staking on Coinbase is considered healthy. A great example of this can be attributed to a recent report released by the company pertaining to PoS assets. About 27% (roughly 32 million) of all the ETH held on the exchange was staked. This contributes to a greater percentage of the $99 billion in staked Ether market capitalization. Therefore, Coinbase is one of the best crypto trading platforms in the US, so you should consider staking your coins.

Below are the pros and cons as to why you should stake some of your idle digital assets with Coinbase Earn.

Pros & Cons of Staking Crypto on Coinbase

4. KuCoin – High Staking Rewards Platform

KuCoin joined the crypto train in 2017 after founders Eric Don and Michael Gan launched the exchange in Singapore. Like all trading platforms, its primary goal was to offer trading pairs and services to crypto users across the globe. 

As one of the trading platforms that securely, efficiently, and safely availed trading tools for experts as well as beginner-traders, KuCoin tapped into the growing area of staking. Dubbed KuCoin Earn, this program allows users to stake digital assets for rewards. 

With an array of educational resources to guide users, knowledge about contributing your coins to the validation and verification of transactions for earnings can be obtained in minutes. 

What makes KuCoin staking different and what are the cryptocurrencies the platform supports for staking.

Pros & Cons of Staking Crypto with KuCoin

5. Binance – One of the Most Profitable Crypto Staking Platforms

Binance was founded by Chanpeng Zhao in 2017 to take advantage of the boom that befell the crypto market. Despite competition from others, Binance remains the largest cryptocurrency exchange in terms of daily trading volume.

Binance realized that millions of people hold coins and tokens on their platforms in dormant accounts. As a result, in the fall of 2019, the team launched a staking platform to provide value-added services to its users.

Since the platform has been a target of numerous law enforcement agencies, including the Commodity Futures Trading Commission (CFTC), the Federal Trade Commission (FTC), and the Federal Bureau of Investigation (FBI), it takes regulation seriously. Therefore, you can begin staking on the platform only after you sign up and complete the verification process.

Due to the extensive sophistication of their infrastructure, their verification process will take less than five minutes, depending on how cooperative you are. If you are interested in earning rewards without having to worry about setting up nodes or other technical requirements related to blockchain, then let’s examine the platform’s merits.

Pros & Cons of Staking Crypto with Binance

6. Crypto.com – Beginner-Friendly Crypto Staking Platforms

Founded in 2016 by Bobby Lim and Gary Or, Crypto.com came into the crypto scene to provide solutions to the interests and needs of traders and investors across the globe. 

As one of the safest crypto-staking platforms out there, Crypto.com records more than $1 billion in daily trading volume. It has recently become famous after securing the naming rights for the home arena of Los Angeles-based basketball teams the Lakers and Clippers over the past few years. 

As of May 2024, the exchange had a customer base of more than 50 million traders. Owing to the keen interest in making consistent passive income, Kris Marszalek (CEO) and the team decided to launch a staking service. 

In July 2023, the platform announced that on-chain staking had been made available on the Crypto.com app. While the native assets of a few PoS blockchains were made available, they assured customers that more protocols would follow suit. 

To become a part of the Crypto.com staking community, download the Crypto.com app. Once it is installed on your smart device, launch it and head to the staking section. Once there, navigate through the assets to find the right one that fits your earnings goals. After that, you enter the worth of the coins you want to stake, review the details, and confirm to start earning rewards. 

To delve more into your interest in Crypto.com staking, let us look at the positives and negatives of locking your funds on this platform.

Pros & Cons of Staking Crypto with Crypto.com

7. Nexo – Among the Most Sought-After Staking Platforms

Nexo has been a part of the DeFi sector since 2018. Having tagged itself as one of the most trusted and leading lending institutions in the growing digital finance sector, Nexo has been using crypto to empower people.

As of May 2024, the company manages more than seven million assets across more than 200 countries worldwide. This is why the company is supported by mainstream players such as Blockchain.com, Circle, Fireblocks, Paxos, Ledger, Chainstack, Nomics, Securitize, Brave, Jumio, BCB Group, and Brink.

As part of its legitimacy and authenticity in an industry mired by scams, Nexo is a member of Crypto UK, the Swiss Finance Technology Association, Crypto Valley, Travel Rule Universal Solution Technology (T.R.U.S.T.), Swiss FinTech, Global Digital Finance, the European FinTech Association (EFA), and the International Association for Trusted Blockchain Applications (INATBA).

After the successful launch of its in-app cryptocurrency exchange service in February 2021, Nexo followed this up with staking experimentation. Seven months into the fall of Do Kwon’s Terra Luna and one month after the collapse of FTX, Nexo announced Ethereum Smart Staking.

This began Nexo’s foray into staking, and many cryptocurrencies have since been added to its products. So how do I stake through Nexo?

To earn rewards from staking on the platform, you have to open the Nexo Exchange. After that, you have to select from a list of digital assets it supports, preview your stake, and then stake crypto. Here are some of the primary features of staking on Nexo.

Pros & Cons of Staking Crypto with Nexo

8. Stakely – A High-Quality Staking Platform

Stakely is a non-custodial platform that allows users to earn passive income by contributing their digital coins and tokens to securing blockchains relying on the Proof-of-Stake (PoS) network.

As of May 2024, there are more than $1.2 billion worth of assets locked up on the platform. Around 47,000 users have staked their assets on the platform on more than 30 networks.

Unlike other platforms that are mostly cryptocurrency exchanges that add staking services, Stakely, as the name suggests, is a staking platform.

What sets it apart is its low fees. Stakely has one of the lowest fees in this space, which helps customers maximize rewards. Moreover, to make up for any potential technical problems and extreme losses in the future, Stakely launched an insurance fund.

This fund covers potential losses from staking that may arise from unforeseen circumstances. It is important to engage with digital assets that millions of people have thrown their money behind.

Pros & Cons of Staking Crypto with Stakely

9. Kraken – Provides Staking Access to Several Cryptocurrencies

Kraken is among the pioneer cryptocurrency exchanges, having hit the market in 2011. Despite what the crypto winter did to the industry, which led some trading platforms to cease operations, Kraken is still active.

According to Statista, the exchange continues to record a minimum of $450 million in daily trading volume. The consistent spike in trading volume, which was above $1 billion daily before the crash and collapse of Terra Luna and FTX, respectively, led to the introduction of Kraken Staking Services.

As of today, Kraken backs sixteen (16) digital assets for rewards. They are MATIC, ALGO, BTC, TRX, LUNA, SCRT, MINA, XTZ, Kava Network (KAVA), Flow (FLOW), ATOM, KSM, SOL, ADA, DOT, and Ethereum 2.0 (ETH 2).

Some of the advantages of staking coins on Kraken include flexible staking. There are no lockup periods. Therefore, all the coins listed above can be staked and unstaked at any given period, and assets will be credited to your accounts instantly.

Operating for more than 10 years in a highly volatile environment comes with a robust security system. Kraken provides advanced security features, such as embedding software that can monitor suspicious activities in real-time. More importantly, it also provides encryption for sensitive account information using 2FA.

Customers can stake coins using Kraken’s PRO mobile applications. It can be found on the Google Play Store for Android smartphone users and the Apple Store for iPhone users. Staking can also be done by visiting Kraken’s official online address.

While there aren’t a lot of negatives around Kraken, you should take note of discontinued staking services for customers in the United States. In February 2023, the company paid $30 million in penalties to the Securities and Exchange Commission (SEC).

Pros & Cons of Staking Crypto with Kraken

10. Uphold – Reliable Crypto Staking Platform

Uphold joined the cryptocurrency trading business after a successful launch in 2015. The company provides accessibility to its services to more than 180 countries across the globe.

While other platforms struggled to support more digital assets due to liquidity issues, Uphold used its service to support over 250 traditional and digital currencies. As of May 2024, the platform had processed over $4 billion worth of transactions.

Interest rates have lingered between 2% and 5%, which makes it a viable option for only the wealthy due to the relatively smaller returns. Uphold has risen against this and used its resources to provide an inclusive financial system where the underbanked and unbanked benefit. It was through this that Uphold Staking came to light.

Uphold wants millions of crypto lovers to put their assets to work while they are asleep so that their assets will work for them. To stake crypto on the platform, you have to sign up on uphold.com or through its mobile application on the Google Play and App Stores. Once done, you can select from a range of assets. Remember, there are no limitations as to the amount of a particular cryptocurrency you would like to stake, so long as you meet the minimum threshold. Once done, you can relax and enjoy rewards that are credited to your account weekly.

Pros & Cons of Staking Crypto with Uphold

How to Choose the Best Crypto Platform for Staking

Choosing the best staking platform comes with consideration of several essential factors. To simplify the process of identifying the top staking platforms, we conducted extensive research and evaluated them based on specific criteria. The following are the main criteria we took into account while researching, selecting and ranking the above-mentioned staking platforms.

Cryptocurrencies Available for Staking

The most important aspect we considered when selecting the list of the best crypto staking platforms today is the digital assets supported by a particular platform. There are more than 10,000 Proof-of-Stake (PoS) coins in the market. Unfortunately, certain platforms do not offer staking services for more than 10 cryptocurrencies.

As a result, you should research extensively about the types of coins that can be found on a particular platform. You do not want a situation whereby the PoS coin of your choice cannot be located on your preferred platform. So take the time to navigate thoroughly through all coins and see whether supported coins are in line with your investment goals.

The most important aspect we considered when creating the list of best cryptos to buy today was the coin’s potential for growth.

Secondly, you should be able to easily navigate through the platform. User-friendliness is a vital trait you cannot discard when it comes to trading. You do not want a cumbersome platform where you suffer to find staking or earn services. Once the user interface is simple and the platform is accessible on the internet as well as mobile applications, you can settle on that.

Yielding Ratio

The second thing we looked at was the rates associated with yields. The purpose of staking is to make decent yields at the end of a given period. Therefore, you cannot settle for rewards between 0.5% and 5%. Despite the crypto winter over the past two years, the rebounding of the market has made the digital asset industry attractive once again. Once a platform’s rate of return falls into the range of 15% to 50% under the current investment climate, you are good to settle on the staking platform.

Custody

Another important factor we considered when looking for the best staking platforms if the provider is custodial or non-custodial . As an investor, you should know that custodial goes along with centralization, while non-custodial rides with decentralization. Although the primary theme of the crypto market is to take power away from centralized authorities, we would urge you to consider staking with centralized staking services.

What is the Downside of Staking Crypto?

There are numerous downsides to staking crypto. Among them is price fluctuation. A great example of this can be attributed to staking crypto in 2022 through 2023, when the market was on a downtrend. 

The overall market capitalization of the entire decentralized finance industry fell to around $700 billion in November 2022. A sharp decline from its peak value of approximately $3 trillion in November 2021. 

During the peak of the markets in 2021, ETH was still a Proof-of-Work (PoW) coin and required the process of mining to contribute to the validation and verification of transactions. And so was BTC. 

Fortunately, other Proof-of-Stake (PoS) coins such as Solana (SOL) and Polkadot (DOT) reached all-time high prices of $260.06 and $55, respectively. This meant that seeing annual percentage yields (APYs) of 25% at the above prices brought great earnings to the portfolios of holders.

Unfortunately, once the downside of the market hit the coins, which has seen them trade below $150 and $10, respectively, the potential rewards that once made staking profitable have been reduced to the barest minimum. This is the reason why you have to diversify your staking portfolio. More importantly, find staking platforms with flexible staking options so that you can unstake your coins once price trends do not align with your investment goals.

Is Crypto-Staking Still Profitable?

Yes, crypto staking is still profitable. According to Staking Rewards, an explorer of the staking market, the global staking market cap stands at $280 billion. The staking portal further shared that stakers have been sharing about $6 billion in rewards annually. The global staking market has been forecast to be worth at least $300 billion. This is the reason why several cryptocurrency exchanges and firms operating under the DeFi banner have added staking services to their portals. 

As of May 2024, several staking platforms offer average rewards between 5% and 25%. Therefore, staking is still profitable but solely depends on the value of the digital assets you are willing to stake. A person with about $1 million in ETH, SOL, or DOT staked will earn more rewards than someone staking around $1,000 worth of the same cryptocurrencies.

Which Cryptos are Worth Staking?

There are two types of crypto that are worth staking. The first one comprises coins that come with high APYs. The other one is digital assets that are patronized by millions of people and command relatively higher stakes in the market. 

Due to the enormous demand for cryptocurrencies such as Ethereum (ETH), Solana (SOL), Cardano (ADA), Binance Coin (BNB), Sui (SUI), Aptos (APT), Avalanche (AVAX), Celestia (TIA), Polkadot (DOT), and Tron (TRX), it is advisable to consider those coins. In a rebounding market that is still recovering from huge losses from the past two years, you can still come across decent reward rates. As of this writing, DOT and TIA had reward rates that were above 10%, while the others were below 10%. 

Low-cap digital assets that are less known normally come with above-average APYs. Examples of other cryptos worth staking are Cosmos (ATOM), Songbird (SGB), Kusama (KSM), and Injective (INJ).

Is it Better to Stake or Earn Crypto?

In many ways, it is better to stake in crypto. In another way, it is also better to earn crypto, depending on many factors. Staking crypto can be compared to making a safe investment, such as buying government bills and waiting for interest. Those interest rates are infinitesimal and may not be able to meet your investment goals. 

A great example of this can be attributed to a cryptocurrency like Injective (INJ). INJ was trading for $18.40 on December 1, 2023. The coin rose by 187% in three months when it reached an ATH price of $52.75 in March 2024. That means that a $1,000 investment in INJ in December was worth $2,870 when it reached its peak price. This is an example of earning crypto through trading digital assets on an exchange, which comes with risk. 

On the other hand, if all other market conditions do not change, staking $1,000 worth of INJ at 25% APY will result in $250 after 12 months. The difference is $1,620. From the above mathematical explanation, we can all agree that it is better to earn crypto than stake it.

Should I Stake in Crypto?

Yes, you should consider staking crypto. This is because the latest interest rates on the Federal Reserve’s portal show a number that continues to hover around 5.5%. 

This makes traditional financial interest rates unattractive. Receiving a decent 15% to 25% return in a rebounding market can go a long way toward improving your portfolio in the long run. 

Always remember that any product associated with the crypto industry is risky. So always invest an amount of money you can afford to write off as bad debt because the market is highly volatile.

Read next: Best Altcoins to invest in 2024

Conclusion

While crypto staking enables you to earn daily passive income consistently, it is important that you research extensively about staking platforms before settling on one.

We rate eToro as the best crypto-staking platform among the numerous options we outlined in this guide. This is because eToro meets all the standards needed to help you enjoy your journey in staking. It is a well-regulated company that is extremely secure and provides some of the best APYs in the market.

As long as you hold any of the digital assets supported by the company’s staking services, you are eligible to start receiving rewards after eight to 10 days. That said, the other platforms also have flexible options that can meet your needs and interests.

But whatever happens, know that aside from receiving interests, you are also contributing to blockchain development and participating in community governance.

Resources:

• https://www.etoro.com/crypto/staking/#:~:text=Staking%20allows%20users%20who%20own,%2C%20secure%20and%20hassle%2Dfree.
• https://www.etoro.com/wp-content/uploads/2020/10/Press-release_-eToro-launches-staking-service-FINAL.pdf
• https://www.stakingrewards.com/
• https://help.coinbase.com/en/coinbase/coinbase-staking/staking/eligibility
• https://www.coinbase.com/en-gb/earn/staking/ethereum
• https://www.coinbase.com/blog/coinbase-launches-staking-rewards-for-customers-in-the-uk-france-spain-and-the-netherlands
• https://www.kucoin.com/earn/staking
• https://www.binance.com/en/earn
• https://crypto.com/product-news/on-chain-staking-app
• https://nexo.com/media-center/nexo-introduces-in-app-cryptocurrency-exchange-service
• https://www.theblock.co/post/210841/nexo-will-stop-its-earn-interest-product-for-us-clients-in-april
• https://uphold.com/products/staking
• https://blog.kraken.com/news/what-is-staking-frequently-asked-questions-about-a-new-way-to-earn-crypto
• https://www.reuters.com/technology/crypto-exchange-kraken-shut-down-staking-service-pay-30-mln-settlement-with-us-2023-02-09/

Here are answers to some of the trendiest questions surrounding staking that can be found across all the search engines worldwide.

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Author: Kamal Masri

Kamal is an experienced financial analyst with a demonstrated history of working in the Financial Market. Skilled in Equities, Capital Markets, Portfolio Management, Risk management, and Corporate Finance. Kamal has worked at some of the leading online finance publications providing his expert knowledge on cryptocurrency. Kamal has written widely on digital assets across the stock and crypto media space and beyond, including for Coindesk, Ethereum World News and The FinTech Times.

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