We will help you to discover the best crypto staking platform in 2022, so to speak the best staking platform in the year 2022 for your cryptocurrency.
Leverage your Bitcoin, Ethereum, or stable coins without selling them, and earn rewards for staking your cryptocurrency.
- Crypto.com
- Kraken
- Gemini
- Coinbase
- FTX
How does cryptocurrency staking work ?
It is based on the concept that other users do take loans and pay a fee, which particularly is handed down to you so you earn your APY %.
Staking offers crypto holders a way of putting their digital assets to work and earning passive income without needing to sell them.
You can think of staking as the cryptocurrency equivalent of putting money in a high-yield savings account back in the good old days.
When you deposit funds in a savings account, the bank takes that money and typically lends it out to others (Lending prior mentioned). In return for locking up that money with the bank(cryptocurrency exchange in our case), you receive a portion of the interest earned from lending – although a sometimes “very low portion” in comparison to what the platform does earn.
More about our crypto staking platform picks for the year 2022
Our cryptocurrency staking platform selection is based on personal experience and factors like their staking APY, past payouts, availability, and many other factors.
Crypto.com
Crypto.com does offer its services to U.S. users largely through its mobile applications, and the staking and rewards programs vary depending on which app you use. However it is not limited to US customers, a big amount of its customers are international.
Its main Crypto.com app pays out rewards on about 50 cryptocurrencies. The returns vary based on factors including how long you’re willing to lock up your crypto, but the platform says they could be as high as 12.5%. Crypto.com (depending on your base currency) also has some staking and rewards offerings on its separate DEFI Wallet application.
Kraken
Kraken’s staking rewards are available for more than a dozen cryptocurrencies, and some even exceed the 23% per year mark, which is top of the top among the platforms reviewed by us (make sure you look at the rates for the specific cryptocurrency you want to use for staking).
The service also gets high marks for the big liquidity it does offer. There’s no minimum time you need to stake your cryptocurrency to earn rewards, though you earn more the longer you stake. Rewards are distributed either once or twice a week, depending on the cryptocurrency being used.
Gemini
Gemini has a total of over 40 cryptocurrencies for which staking rewards are available, the largest number among platforms reviewed by Cryptouserguide.com.
Though it does not advertise its offering as a traditional “staking program”, its earn features does pay out interest on certain cryptocurrencies.
Rates range as high as 8.05% APY on some crypto. Gemini has some limits on liquidity; users can request the return of their cryptocurrencies anytime but may wait up to five business days to receive them. Rewards are distributed daily.
Coinbase
While Coinbase has a limited selection of coins that are eligible for their staking program and rewards on its main platform, users of the Coinbase wallet service (which does allow users to keep crypto in their own custody) have additional/extra options.
There are 5 assets available on the main platform, with rewards of up to 5% APY.
On the wallet service, 26 assets are available, with rewards approaching the 15% range. If you’re staking on Coinbase’s main service, make sure you pay careful attention to the terms around liquidity!
The company did mention that redemptions may take some time to unlock “in rare circumstances.” Rewards payout rates depend on the asset you’re staking, and they range from daily to quarterly.
FTX
FTX has a relatively simple program available on its mobile application. If you opt into the program, you can get up to 8% APY on whatever you’re holding on the platform — even U.S. dollars which is the closest you can get to high-yield savings account these days.
The rewards rate drops to 5% for any amount you hold in excess of $10,000. FTX has 21 cryptos on its app. You can withdraw or spend crypto assets held in their program at any time, and the rewards are calculated on an hourly basis.
Risks of staking on a crypto platform
As with every type of investment, especially in the crypto space, there are risks you need to consider:
- Cryptocurrencies are volatile. Drops in price can easily outweigh the rewards you earn (many try to counter that by staking stable coins). Staking is optimal for those who plan to hold their asset for the long term regardless of the price swings.
- Some coins require a minimum lock-up period while you cannot withdraw your assets from staking.
- If you decide to withdraw your assets from a staking pool, there can be a specific waiting period for each blockchain before getting your coins back in some market conditions.
- NOT YOUR KEYS NOT YOUR CURRENCY!
Moritz Pindorek (Moritzpindorek.com)
Social Media, Marketing & Blockchain
Crypto/Web 3 Advisor, Top 10 Crypto Influencer 2022(Forbes Monaco) & Top 10 Entrepreneur 2022 (Forbes Monaco)
Owner and writer for Cryptouserguide.com
