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If you’re currently holding some digital tokens and wish to put the funds to good use – why not consider crypto staking? In doing so, you will earn regular income on your tokens in a similar nature to a conventional bank account.
However, unlike a bank account – which will likely see you earn less than 1% in interest per year, the best crypto staking sites pay a considerably higher yield. And don’t forget, your staking rewards are in addition to any gains you might make if the digital token increases in value.
If this sounds like something you would like to explore further – this guide reviews the best crypto staking sites for 2023. We also explain how crypto staking works and walk you through the process of getting started today!
Best Crypto Staking Sites – List of the Best Crypto Staking Sites 2023
A list of the best crypto staking sites of 2023 can be found below.
- eToro: Winner of the Best Crypto Staking Site 2o21
- Binance: Multiple Staking Coins With Competitive Yields
- MyContainer: Huge Yields Offered on Small-Cap Staking Coins
Quick Guide on Getting Started With Crypto Staking Now
Below you will find the steps required to start staking your crypto tokens and subsequently earn interest on your idle digital assets!
For this quickfire tutorial – we are using regulated platform eToro – which we believe is the best crypto staking site for 2023.
- Step 1: Open an eToro Account – Step 1 will require you to open an account with eToro. This shouldn’t take you more than two minutes and simply requires some personal information. You’ll also need to upload a copy of your ID – not least because eToro is regulated by several reputable financial bodies.
- Step 2: Buy Staking Coin – In order to make money from the eToro crypto staking service, you will first need to buy an eligible coin. You can do this via a debit/credit card, bank account, or Paypal – and the minimum investment per trade is just $25.
- Step 3: Earn Rewards by Staking – After 8-10 days have passed (depending on the coin) – you will automatically start earning staking rewards! This will continue to be the case until you decide to cash out – which you can do at any given time.
As you can see from the above quickfire guide, crypto staking could not be easier when using eToro. Plus, the brokerage site is regulated by the FCA, ASIC, and CySEC – so you can be sure your staking coins are secure at all times!
67% of retail investor accounts lose money when trading CFDs with this provider.
How Does Crypto Staking Work? Beginner’s Guide
If you’re here searching for the best crypto staking sites in the market right now – you likely have a firm idea of how this interest-bearing system works. However, if you’re still unsure about the fundamentals, we would suggest reading through this section before proceeding.
So, in its most basic form, crypto staking allows you to earn interest on your digital token holdings. This is because your staking coins will be used to help confirm transactions on the respective proof-of-stake (PoS) network.
In most cases, you will need to lock your tokens up for a certain period of time – meaning you won’t be able to access the digital coins until this timeframe has passed. The specific number of days will vary from PoS network to network.
Nevertheless, the main concept of crypto staking is as follows:
- You decide to stake 1,000 tokens on the Cosmos blockchain
- We’ll say that each Cosmos token is worth $15 – so that’s a total staking sum of $15,000
- The staking yield on offer is 8% per year
- We’ll then say that you are required to lock the tokens up for three months
- At the end of the three month period, you will receive your tokens back
- However, instead of receiving just 1,000 tokens – you also get your staking rewards
- At an annual rate of 8% – this amounts to an additional 20 tokens
If we made the assumption that Cosmos tokens were also worth $15 each at the end of the three-month staking period, this would mean that the 8% annual yield generated $300 in earnings (20 tokens x $15). However, there is every chance that the value of your staking coin would have increased since you locked the tokens up.
As such, not only do the best crypto staking sites allow you to earn interest on your tokens – but you still benefit from an increase in the digital asset’s value. Ultimately, this is why wider interest in the crypto staking scene is growing at an exponential rate.
Best Crypto Staking Sites – Full Reviews
Now that we have explained how crypto staking works, we can now focus on the results of our research. That is to say, we personally reviewed dozens of platforms offering crypto staking services and concluded that the sites listed below are worth your consideration.
1. eToro – Winner of the Best Crypto Staking Site 2o22
Our comprehensive research process found that eToro is the overall best crypto staking site in the market today. The platform is best known for its brokerage and trading services - with the platform home to thousands of financial instruments. This is inclusive of dozens of cryptocurrency pairs - which you can buy, sell, and trade at a minimum stake of just $25. More on this shortly.
In terms of what eToro offers in the context of crypto staking, the platform makes the end-to-end process a seamless one. This is because you do not actually need to do anything to start earning rewards on your staking coins. On the contrary, eToro automatically pays you the respective yield simply for holding the tokens in your wallet. Unlike many providers in this space - eToro doesn't require you to lock your tokens away.
Instead, the platform gives you unfettered access to your staking coins - meaning that you can make a withdrawal whenever you wish. At the time of writing, eToro offers competitive staking rewards on TRON and Cardano. Ethereum 2.0 - alongside heaps of other staking coins, will be added in the very near future. The only drawback with the eToro staking system is that you need to wait 8-10 days for the rewards to start accumulating - which depends on the coin.
You might also consider eToro for your wider cryptocurrency investments. Not only is the broker heavily regulated - with licenses from the FCA, ASIC, and CySEC - but the platform offers super-competitive fees. Plus, you can easily buy digital tokens with a debit/credit card, bank account transfer, and even Paypal. You can also invest passively by using the Copy Trading tool - which allows you to copy an eToro user like-for-like!
- Trade dozens of crypto assets on a spread only basis
- Regulated by the FCA, CySEC, and ASIC - also approved in the US
- User-friendly platform and minimum crypto stake of just $25
- $5 withdrawal fee
2. Binance – Multiple Staking Coins With Competitive Yields
The next option to consider in your search for the best crypto stake site is Binance. Primarily, this provider is best known for its cryptocurrency exchange services. In fact, Binance is the largest exchange in the crypto arena - with over 100 million users. The platform also facilitates the largest amount of daily trading volume.
In terms of what the Binance crypto staking department has to offer, you will find 11 supported coins. This covers stablecoins such as BUSD, USDC, and Tether. The yields available on these coins stand at 2.89%, 2.79%, and 4.79% - respectively. You then have digital tokens like Swipe, which yields a more competitive rate of 5.45%.
The best yielding staking coin at Binance is HARD Protocol, which is paying 10%. Be sure to check the minimum lock-up period on choosing your staking coin before proceeding. You can fund your Binance account by transferring the tokens from an external wallet. Or, depending on your location, you can use your debit/credit card to buy a PoS coin.
- Largest crypto exchange globally
- Commissions of just 0.10%
- Supports fiat currency deposits in some regions
- Not regulated - so your funds are always at risk
3. Mycontainer – Huge Yields Offered on Small-Cap Staking Coins
MyContainer is a specialist staking platform that supports heaps of coins. With that said, this platform will arguably be more attractive for those that are seeking above-average yields while at the same time - are happy to take on additional risk. This is because MyContainer hosts plenty of smaller-cap staking coins that yield large APYs.
For instance, The three highest-yielding tokens include BitcponPoS, ExclusiveCoin, and Social Send. These staking coins yield an attractive annual rate of 70%, 68%, and 53% - respectively. Other staking coins that generate an attractive yield include Cartesi, Phore, Essentia, and Divi.
On the other hand, MyContainer also supports larger-cap coins that come with a lower level of risk. For instance, you can stake the likes of Binance Coin, Bitcoin Cash, Dogecoin, Ethereum Classic, and Chainlink. These established staking coins do, however, yield a much lower APY rate.
- Specialist crypto staking platform
- Dozens of supported staking coins
- Yields as high as 70%
- Not licensed or regulated - so it remains to be seen how safe your tokens are
Choosing the Best Crypto Staking Sites for You
In the sections above, we have reviewed the best crypto staking sites currently in the market. You might elect to choose one of the sites we have discussed or do a little bit of extra research before proceeding.
If opting for the latter, below we explain how to go about choosing the best crypto staking site for you.
Supported PoS Coins
You first need to consider whether or not the crypto staking site supports your chosen coin. For instance, if you are looking to earn interest on your idle Cosmos tokens, then you need to find a platform that supports ATOM staking.
Annual Percentage Yield (APY)
The best crypto staking sites will typically display available interest rates as an APY. This is the amount of interest that you would earn for staking your coins for an entire year. For instance, if you stake 10,000 TRON tokens and the platform pays an APY of 10%, your interest would amount to 1,000 tokens.
However, you are unlikely to want to stake your coins for a full calendar year, so you need to figure out how much you will make as per your chosen timeframe. Sticking with the same example, if you elected to stake 10,000 TRON for three months at an APY of 10%, your rewards would amount to 250 tokens.
Just because you come across a platform that offers an attractive yield on your chosen stake coin doesn’t mean that you should proceed to open an account. On the contrary, you need to assess whether or not the platform can be trusted.
Amongst many other reasons, this is why we would argue that eToro is the overall best crypto staking site in the market – as the platform is regulated on three fronts. Other popular providers in this space – namely Binance and MyContainer, operate without a regulatory license. In turn, this means that you can never be 100% sure that your money is safe.
Crypto staking sites typically charge a commission for providing a platform for you to earn rewards on your PoS coins. This usually comes as a commission – which is deducted from the interest you make.
For instance, let’s suppose that over the course of three months, you generate an additional 1000 HARD tokens from your staking efforts. If the platform charges a commission of 20% – this amounts to 200 tokens. This would subsequently leave you with net proceeds of 800 HARD.
Minimum Lock-Up Period
Most crypto staking sites have a minimum lock-up period. This is the timeframe that your staking tokens will remain untouchable. The specific lock-up period will not only depend on your chosen staking site – but the respective PoS coin.
With that said, there are also platforms like eToro that have no minimum lock-up period at all. On the contrary, eToro allows you to withdraw your coins whenever you wish!
Start Earning Rewards Now – Walkthrough of Using the Best Crypto Staking Site
By reading this guide on the best crypto staking sites up to this point – you should now know how to choose a suitable provider. To recap – you need to select a site that supports your chosen PoS coin, offers an attractive APY, and is safe and secure.
We found that eToro meets and exceeds these core metrics – so the step-by-step walkthrough below will show you how to start staking crypto with this top-rated provider!
Step 1: Register With eToro
The registration process at eToro is simple and fast. You will need to provide some personal information – such as your name and home address, alongside your mobile number and email. This is because eToro is regulated – so it cannot allow you to access its crypto staking services in an anonymous manner.
This does, however, mean that you can be confident you are using a legitimate platform, and thus – your staking coins will remain in safe hands at all times. Additionally, you will need to upload a copy of your government-issued ID – which will be verified in less than 60 seconds.
Step 2: Add Funds
You will now need to add some funds to your eToro account. The reason for this is that you need to purchase your chosen staking coin from eToro to earn rewards. The good news is that the minimum deposit is just $200 and you can buy crypto assets from just $25.
You can deposit funds with a debit/credit card, Paypal, Skrill, Neteller, or bank wire. The fee attached to fiat deposits is just 0.5% of the transaction amount.
Step 3: Buy PoS Coin
You can now proceed to buy your chosen PoS coin. At the time of writing, you can choose between TRON or Cardano, albeit, more coins will be added very soon.
Simply search for the PoS coin that you want to buy, enter your stake, and confirm the order.
Step 4: Earn Crypto Staking Rewards
Once you have purchased your chosen PoS coin, you will need to wait 8-10 days before the tokens start generated staking rewards. The exact timeframe will depend on the coin you bought. Nevertheless, once the respective timeframe passes, you will automatically start earning interest!
This means that you can sit back and enjoy your rewards for as long as you decide to. If at any time you wish to cash your staking coins out – this can be completed at the click of a button. Simply visit your eToro portfolio and click on the ‘Sell’ button that is located next to the coin you wish to offload.
Best Crypto Staking Sites: The Bottom Line
In summary, this guide has reviewed the best crypto staking sites in the market right now. We’ve also explored the many considerations that you need to make before selecting a provider. This includes checking that the site hosts your preferred PoS coin, that it offers an attractive yield, and that your tokens will be stored in a safe environment.
We found that eToro is the best crypto staking site for investors of all shapes and sizes – not least because the platform is regulated by three financial bodies. All you need to do to start earning staking rewards at eToro is open an account, buy some PoS coins, and that’s it – everything thereon is automated! Plus, you can withdraw your coins at any given time!
eToro – Best Crypto Staking Site 2023
67% of retail investor accounts lose money when trading CFDs with this provider.