Staking is a form of passive income that allows you to earn money while holding on to your crypto. It’s similar to mining, but the difference lies in that staking rewards you with interest. In this article, we’ll show you the top staking platforms where you can earn the highest APY (annual percentage yield). Plus, we’ll explain what staking is and how it works, so let’s get started!
What is Staking?
You can earn interest by digitally lending your coins to the network through the process of staking. Your reward will be higher the more coins you stake. Users can earn interest on their cryptocurrencies through staking without having to sell them or wait for their value to increase.
Staking is an excellent way to generate passive income while keeping your digital assets rather than selling them for fiat money (like USD). Allowing yourself the chance through staking can help preserve some value as well as provide an additional source of income because cryptocurrency prices are always fluctuating, especially during bear markets.
How to Start Staking
Before we dive into the details of staking, there are some steps you need to take to get started. The first thing you need to do is choose a platform. There are many different options available, but we have narrowed it down to five in this guide:
OKX
Users can earn on tokens like Ripple, Shiba Inu, Litecoin, and Dogecoin by staking cryptocurrency with OKX, which offers rates up to 70% APY. Many coins have flexible options that don’t require you to lock up your tokens, and some even have staking terms that range from 15 to 120 days.
Battle Infinity
Staking IBAT on Battle Infinity requires only a few minutes of your time. Battle Infinity offers several ways to earn interest on IBAT, including flexible staking with 12-25% APY. Investors can withdraw their IBAT or reinvest at any time. A locked staking period of 30, 90, 180, or 360 days offers a high rate of 14-25%.
Quint
Quint offers what we think is the best staking mechanism of any existing platform: users can access ‘super-staking’ pools, which offer possibilities for earning even more interest on the coins they stake than those made available by competing crypto projects.
DeFi Swap
A new decentralized cryptocurrency exchange and farming platform called DeFi Swap was created to make it easier to stake using its own DeFi Coin (DEFC). You can choose between 4 different staking periods: 30 days, 90 days, 180 days, or 365 days. The longer you hold your coins on the platform, the higher the interest rate (up to 75% APY) you will earn.
ZenGo
Users can invest, stake, and swap cryptocurrencies using ZenGo, a multipurpose cryptocurrency wallet. Two passive income streams are offered by Nexo, a ZenGo partner and licensed financial institution for lending cryptocurrencies: you can lend your cryptocurrency and get interest on it. Tezos is the platform’s sole staking asset. The ZenGo Savings account has an annual percentage yield of up to 8%. (APY). Users can earn between 3% and 4% APY on their cryptocurrencies, such as Bitcoin, Ethereum, or USDC, with this high-yield savings account.
Best Staking Platforms for Highest Annual Percentage Yield
If you’re looking for the best staking platforms, then you’re in luck. Staking has become increasingly popular as a way to earn passive income, but there are some things to keep in mind before choosing a staking platform.
Only invest what you can afford to lose. Research and compare different platforms before making an investment, paying special attention to their risk levels.
Make money while holding on to your crypto.
Different cryptocurrencies have different staking protocols, and there are hundreds of ways to stake them, but we have listed only those that offer the highest APYs so that you can make money while holding on to your crypto.
So, if you are a crypto investor and have been looking for ways to make more money from your holdings, then staking may just be what you need. It’s a simple process that allows you to earn more interest on your digital coins by lending them out as collateral against other investors’ loans. This way, everyone profits while enjoying peace of mind knowing they will get their principal back when the loan matures.