Published on August 10th, 2022 |
by Jerry Doby
We have witnessed significant changes in the crypto market recently, and it is understandable that many investors are trying to find a way to stay afloat and direct their means to something profitable. We are all very well aware that the crypto market can never be fully stable, and there will always be a risk of various changes and even losses. However, everyone who starts investing in the crypto market usually becomes passionate about it, and we can fully relate. Before we get fully immersed in the details regarding the best staking coins, let’s take a step back and share some information about the crypto exchange platforms that will make the whole process easier!
What does staking refer to?
Taking part on the crypto market doesn’t always have to be through buying and selling of the crypto coins, but there is also staking that is gaining popularity lately, especially due to recent events. PoS system, otherwise known as proof of stake, refers to the procedure when coins get utilized to verify blockchain transactions. It is a great mining alternative. Everyone can choose between two staking methods:
- through a crypto exchange
- through setting up staking node.
Due to the risks that can occur in the second option, most people turn to reputable platforms that have a well-proven system that decreases the risk significantly. Going into the adventure of setting up the staking node is for the ones who have a vast experience in this field, and it can be very risky for beginners. In case you are not up for doing things by yourself, but you would rather do the staking via the most reputable platforms, here are the top 3 platforms where you can find the best staking coins:
Each one of these platforms has proven its value multiple times, and all of them have an impeccable reputation. Here is a little bit more about them!
The platform eToro is popular because of its low fees, but lately, it has started attracting the attention of the people who want to get access to the best staking coins, especially because the moment your purchase digital assets on this platform, you can expect that those tokens will get automatically staked. This way, your involvement in the process is minimal. The staking coins you can find on eToro are Ethereum, Tron, and Cardano. Depending on your membership status and location, you can expect to get from 75% – to 90% on monthly yield. There are numerous benefits you can expect when using this platform for staking coins, such as staking crypto assets in an ecosystem that is extremely regulated, which is always a welcome form of protection. The platform is equally easy to use for both beginners and experienced users.
A platform that has been on the market for a while now and that is always a good choice is certainly Binance. If you choose to stake coins, you can choose between a range of various coins you believe are a good choice. You can choose the period that you want to stake your coins, and the period ranges between 10 and 90 days. Keep in mind that staking pools have a maximum allocation, which means that the best deals go the fastest, so you will need to react with lightning speed. There is also a savings account for cryptocurrencies that you can use. Once you deposit the funds, you can expect to get an interest on the crypto assets that are idle in your account.
When it comes to the platform Coinbase, it is usually one of the first choices for beginners because the platform is user-friendly. There are six coins that can be staked, and those include perhaps the most popular Ethereum, but also Cosmos, Dai, and others. A great thing about this platform is that you can transfer the coins from the external wallet and then stake them on Coinbase. However, keep in mind that even though opening the account takes only a few minutes and you can use your credit card or debit card for instant purchases, there is a fee of almost 4%.
Hopefully, the information provided will help you to navigate easier throughout numerous information out there. Now, once you choose the best platform for you, you will need to choose the staking coins you would like to focus on. This is why we have compiled a list of the best staking coins for this year!
5 best staking coins for 2022
The reason why staking coins are gaining even more popularity lately is the fact that investors can earn rewards without cashing out. This means that you can have passive income and keep the ownership of the coins. Even though there are no guarantees when it comes to the crypto market, according to what we can see now, the best staking coins that must be on our list are:
- Lucky Block
- DeFi Coin
If you’re thinking about investing in some of these staking coins, we will make sure that you get the most important information about each one of them, so let’s begin!
Lucky block has been on the market for a while now, and it is more of an interest-bearing coin than a staking coin, but the reason why it’s on our list is that the more coins you have, the greater the chance to win amazing rewards. It operates through smart contracts, which means that the lottery games offered are credible and transparent. Ever since it was launched, its value has increased by more than 6000 percent, which makes us believe that its value will continue to rise and will manage to survive the changes happening this year. It is certainly worth thinking about, especially because by owning Lucky Block coins, you get a chance to win some incredible prizes.
Defi coins are also known as DEFC, and they are native coins of DeFi Swap. When they appeared on the market, its value increased by 500%, and due to the recent events, its price decreased by 40%, which is still pretty good considering the price drop that some other cryptocurrencies suffered. Even though we can expect certain fluctuations in price in the near future, the experts believe that it is one of the coins with a bright future ahead.
It may be strange recommending to focus on ETH (also known as Ether), which is the native token of Ethereum, due to the recent events in the crypto market. However, ETH has shown us that it is one of the coins that can survive just about everything. Even though its value has slightly dropped lately, most of the experts believe that its value will start to rise again. If you wish to start staking, you should know that you need to deposit at least 32 ETH and then go from there.
Created to be scalable, Solana is one of the coins that attract the attention of people around the world. When we have in mind that its price went from the modest $18 in value to the incredible $100 in a matter of 12 months, it quickly becomes clear why it is a good choice for this year too. The crypto crash impacted Solana too, but it is still good and standing. The annual returns when staking it can go between 7%-11%. The process for staking is pretty simple, and if you decide to do it, you should move your tokens to a wallet that has the staking included as an option.
One of the most popular staking coins is definitely Terra, also known as LUNA. Locking up the coins can bring passive income to its holders, and lately, more and more people are turning to this option. You can choose to be a validator or to pick some other validator to give your coins to and stake them. The yield annually can be 6% or more for staking LUNA, according to the data available at the moment. The holders who decide to withdraw them need to wait three weeks before they can get a hold of them once again.
Despite the market changes, all the passionate crypto traders, investors, and coin holders still have a chance to earn passive income. The process is pretty simple, and once you decide which crypto exchange is the right one for you, choosing the best staking coins certainly comes easier. We hope that the information we provided about the most reputable crypto exchanges will lead you in the right way. In addition, the essential information included in this article about the most popular staking coins for 2022 can give you a push in the right direction to start creating a strategy that will help you to regain a sense of control that may have been shaken due to the recent events.