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A popular way to earn additional tokens or voting rights on a blockchain project is by locking up or delegating crypto assets. Staking cryptocurrency is similar to mining but needs minimal expertise and zero upfront costs. Cryptocurrency trading platforms offer to stake coins to earn passive rewards. This article will review and compare some of the best crypto-staking platforms based on the number of supported coins, pay-out frequency, staking fees, and minimum staking amounts.
Best Cryptocurrency Staking Platforms
These are some of the best cryptocurrency platforms for staking in 2023:
- Binance (best overall staking exchange)
- ByBit (best staking platform for traders)
- Kraken (best exchange to stake Cardano)
- Coinbase (best place to stake in USA)
- eToro (best staking platform for copy-traders)
- KuCoin (best platform for flexible staking)
- Crypto.com (best crypto staking app)
Top Platforms To Stake Crypto: 2023 Reviews
Why we picked it
Binance is a one-stop destination for its users to browse and invest their assets into staking programs to earn rewards. We found the exchange supports the widest selection of staking assets with 88 PoS tokens available under fixed, or flexible arrangements. Coins that can be staked on Binance include BNB, LUNA, SHIB, SOL, KSM, ATOM, VET, and many others. Binance is one of the few centralized exchanges that allows staking Shiba Inu.
A popular staking option is Binance Locked-Staking which offers a low entry barrier and high yield. This arrangement is ideal for those who can leave their assets in a staking wallet and forget it for a fixed duration such as 15, 30, 60, or 90 days. At the end of the fixed term, the original staked amount can be withdrawn or used for trading purposes.
Read our full Binance review.
Why we picked it
ByBit is a staking platform where its Earn module lets you move your assets to a staking wallet to earn rewards. The staking rewards are paid out daily from the day after the tokens are deposited to the Bybit earn module. Moreover, Bybit does not charge a platform commission fee to provide the service and lets derivatives traders to earn a staking yield on coins while in between trades.
At the time of writing, there were 22 cryptocurrencies that can be staked on Bybit at the time of writing which include Ethereum, Solana, Cardano, and others. Like Binance, users on Bybit have the flexibility to choose between fixed and flexible staking arrangements. There are limited choices when it comes to fixed staking products, however, this won't worry traders who are earning rewards by staking in between trades. Staked tokens in a flexible plan can be withdrawn at any time.
Read our full review on Bybit exchange.
Why we picked it
Kraken is a solid staking exchange for coins such as Ethereum 2.0, Solana, and Cardano. The platform streamlines the staking process with little effort required to earn rewards. The only downsides with Kraken staking are the bi-weekly payouts and staking fees. The con with Kraken is that staking is not available to USA residents after it was charged by the SEC.
Kraken's support for Proof-of-staking tokens through its soft-staking service appeals to retail investors who don't want to run a node. The 4th largest crypto exchange in the world supports 12 assets such as ETH2.0, DOT, ADA, SOL, KSM, ATOM, FLOW, KAVA, XTZ and ALGO.
Each coin can be staked without lock-in contracts or waiting periods. Furthermore, Kraken users have the flexibility to instantly un-stake and trade the funds on its world-class altcoin trading platform with competitive fees. The funds must be delegated to the staking wallet to commence the process.
Staking rewards are paid out twice a week every Monday and Thursday at 14:00 UTC. As opposed to other exchanges such as Binance and Crypto.com Exchange which have daily pay-outs, the compounding effect is slightly reduced with Kraken as the estimated rewards are calculated based on daily balances. Furthermore, there is a 15% staking fee applied which can vary depending on the coin and earned rewards.
Read our full Kraken review.
Why we picked it
Coinbase is one of the world's most popular exchanges that offers one-click staking on its platform for its users to earn staking rewards on funds. Coinbase users can earn up to 5.0% APY on staking Cardano, Ethereum 2.0 (ETH2), Tezos (XTZ), Cosmos (ATOM) and USD Coin (USDC). The fees are higher than other options we've compared.
The staking offering on Coinbase is fairly limited compared to Binance, however, the benefit of staking with Coinbase is that investors within the United States are allowed to stake. Supported staking assets do not need to be purchased with Coinbase and can be transferred to the exchange from another wallet. Moreover, Coinbase does include the most popular coins to stake in its selection.
Other pros of staking on one of the biggest crypto exchanges include a low barrier for entry and a minimum staking amount of USD 1. Funds within a Coinbase wallet that are delegated for staking will automatically accrue rewards - this makes it useful for staking nodes who are worried about the risks associated with staking.
The con with Coinbase staking is the fees. The estimated returns depend on each staked token. Coinbase will distribute earned rewards minus a 25% commission for providing the service which is one of the higher fees in the market for staking crypto (on our list).
Read our complete Coinbase review.
Why we picked it
eToro is the next staking platform we have reviewed and tested on this list. We found the list of supported staking assets is quite limited but includes staking Tron (TRX), Cardano (ADA), and Ethereum 2.0 (ETH2.0). However, eToro does all the hard work to grow the user's assets over time while the funds are invested on the platform making it a reasonable option to consider for existing eToro users.
Compared to the other platforms in this list, eToro is a copy-trading that supports staking crypto. Staking pay-outs are made each month which is not ideal for compounding returns over time when compared to other exchanges which are daily, bi-weekly, or weekly.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an aﬃliate and may be compensated if you access certain products or services offered by the MSB.
There are also fees involved which depend on the user's account level. For example, eToro will take 25% of the estimated staking rewards for entry-level Bronze Members. The fee is reduced for the premium accounts, however, for most retail traders a 25% staking fee will apply.
While the staking fee is used to cover eToro's operating costs for running a staking pool, there are cheaper alternatives such as Binance and KuCoin to stake without fees. Overall, despite the fees, limited PoS tokens, and region restrictions, eToro is a great place for users to stake their crypto and leverage other unique services on the platform such as crypto demo trading and copy-trading.
Read our full eToro crypto review.
Why we picked it
Crypto.com Earn is a service for investors to earn interest using crypto using the popular mobile application. You can earn staking rewards on 28 supported tokens held within the exchange wallet which is a good selection. There is also the option to stake more than 100,000 CRO tokens to increase the reward payouts for other coins.
The benefit of staking crypto with Crypto.com Exchange is the flexibility to transfer funds between the App and Exchange without fees and earn rewards based on the daily balance. There are no lock-up or fixed periods to stake tokens and can be withdrawn or transferred at any time. The staking rewards are calculated and paid out daily. There are minimum amounts for each coin to be aware of to qualify for staking interest.
Another advantage that Crypto.com Exchange offers is the ability to earn staking rewards on pending orders (e.g. limit orders) placed on the trading platform. There is a staking report to view all earned rewards on the exchange which can be exported to CSV and imported to a crypto tax program for tax obligations. Moreover, Crypto.com App features one of the best crypto apps for monitoring the performance of digital assets and is second to none in the market.
Read our full Crypto.com Earn review.
Why we picked it
Pool-X Earn is the soft-staking terminal on KuCoin that has a wide selection of PoS tokens that can be delegated to a staking pool or fixed-term arrangement. There are multiple coins such as staking Tezos, Cosmos, Polkadot, and high-yield DeFi tokens that make it a suitable platform for investors chasing high yields. However, in our opinion, the user interface is a little complicated with many options to choose from which involve more than one 1-click to stake a particular coin.
A major benefit of using KuCoin for staking is the wide selection of other financial products such as interest accounts, mining pools, and lending services. Funds that are delegated under a flexible term can be un-staked at any time to use for trading or other services. KuCoin regularly features limited-time promotions and offers to stake coins with higher APYs. The offers are the lesser-known tokens that can also be bought and sold on the exchange directly or using the mobile app.
Read our full KuCoin review.
Crypto Staking Platforms Compared
This comparison guide provides an overview of the best one-click exchanges to stake cryptocurrency. For further information on each exchange, read our full reviews or visit the website.
|Platform||Number of Coins||Staking Fee||Rating||Promotion||Website||Review|
|Up to $100 welcome bonus||Visit Exchange||Binance Review|
|0% trading fees for 30 days (spot only)||Visit Exchange||ByBit Review|
|None available at this time||Visit Exchange||Kraken Review|
|$5 BTC bonus (USA only)||Visit Exchange||Coinbase Review|
|eToro||3||Up to 25%|
|None available at this time||Visit Exchange|
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
|Up to 500 USDT in bonuses||Visit Exchange||KuCoin Review|
|None available at this time||Visit Exchange||Crypto.com Review|
What Is Crypto Staking?
In short, staking crypto involves delegating tokens in wallets for a specific period to participate in the governance of the network. Staking is common with Proof-of-Stake (PoS) projects which involves validating transactions on the particular network protocol, creating a new block, and distributing newly minted coins as staking rewards. In return, the participants are given a percentage-based staking reward based on the number of tokens locked in for their contribution. To learn more, read our beginner's guide on what crypto staking is.
What Does Soft-Staking Mean?
Soft-staking is a process that allows individuals to use a crypto exchange to stake assets without having to lock in their funds or run a staking node. Holding funds on an exchange wallet is delegated to a mining pool with other participants to earn a share of the staking rewards. The benefit of soft staking or using 'One-Click exchanges' is the flexibility to redeem staked funds at any time to trade or withdraw.
Frequently Asked Questions
Binance, Crypto.com Exchange and KuCoin offer staking of cryptocurrencies on its platforms without any additional fees. In comparison, platforms such as Coinbase, Kraken and eToro charge up to 25% of the staking reward to cover operating costs and expenses.
Binance is the world's most popular trading platform that offers 88 Proof-of-Stake (PoS) coins that can be staked in fixed or flexible terms. This represents the largest selection of coins for staking and is one of the best staking platforms.
While the entire crypto industry is largely unregulated, there are several risks when staking crypto. Platforms, exchanges and third-party wallets act as the 'middle-man' or bank to provide mining pools for individuals to join. These centralized providers are heavily scrutinized and implement industry-leading security measures to ensure funds are 100% kept safe while staked.
It is also important to note that staking rewards are subject to change and staked assets are generally not covered by any insurance or Federal protection in most countries. However, there have not been any reported instances of hacked exchanges that resulted in a loss of staking assets.
Staking can be profitable on the basis the underlining token does not depreciate in value that is greater than the estimated APY. A token with an estimated return of 1% APY is still a profitable investment that will generate staking yield each year. The staking rewards are calculated on a periodic basis which also offers compounding asset growth.
Staking crypto is a worthwhile activity to earn asset rewards that can be delegated back to a staking pool to compound grow a portfolio. The best crypto exchanges in the world have lowered the entry-barrier for staking. Individuals do not need to run their own node and can participate in staking with minimal cost and effort using 1-click exchanges.
The best staking platforms for crypto such as Binance, Coinbase, Crypto.com, and KuCoin are continually reducing the knowledge barrier for staking while providing a safe staking wallet to earn PoS rewards. These platforms offer a high degree of simplicity, zero costs, and low staking amount minimums to get started quickly and easily. For beginners and new investors to staking, using a reputable exchange with staking features is a great way to earn additional income.