Top 10 Cryptocurrency Staking Platforms in 2024
With the introduction of Proof-of-Stake (PoS) blockchains such as Ethereum, Polygon, and Solana, staking has become a viable way to generate wealth through transaction confirmation. Cryptocurrency staking has already grown into a large industry with a market. By 2024, it will exceed $248 billion.
With that in mind, we’ve put together a guide to the top 10 cryptocurrency staking platforms available for retail users and businesses in 2024.
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Key Takeaways
- Making money on Coinbase is one of the safest options for cryptocurrency holders who want a trustworthy, compliant, and feature-packed platform based in the United States.
- Lido and Rocket Pool are solid options for advanced users who want a decentralized protocol that supports non-custodial staking.
- Staking platforms outside the US face an uncertain future in 2024 due to increasing regulatory pressure.
How to Choose the Best Staking Platform
With dozens of staking platforms and apps on the market, choosing the right option can be difficult. This is especially true if you are a beginner. You may need to look at a variety of factors to identify the staking platform that best suits your needs and circumstances. As part of our in-depth review process, we consider the following factors:
Cryptocurrencies available
Some platforms only offer a single cryptocurrency for staking, while others allow you to hold 50 or more cryptocurrencies. If you want a diverse staking portfolio by combining existing tokens and popular coins, more options may be beneficial. However, if you are only interested in ETH staking, this may not be decisive.
rate of return
The reward you get from staking is APY (Annual Percentage Yield). A high APY is desirable as it allows you to earn more through staking. Each token or blockchain network sets this rate, but it may vary for the same token depending on the staking platform due to different commission rates.
keep
There are two approaches to staking based on the storage of staked tokens. In managed staking, the platform stakes your coins on your behalf. Non-custodial staking gives you full control of your coins. Managed staking is considered more beginner-friendly and offers a variety of value-added features. Meanwhile, non-custodial staking is more suitable for advanced users.
performance
Considering the risk of hacking and other cyberattacks in the cryptocurrency world, it is always a good idea to check the security history of each platform before deciding which one to use. This is especially true for managed platforms that must rely on service providers to handle security issues.
User friendliness
Does the platform have a user-friendly web interface? Can you easily find important information related to staking services? Isn’t the onboarding process simple and difficult? These are all important factors, especially if you are new to staking and cryptocurrency.
limited jurisdiction
Due to local laws and financial regulations, cryptocurrency services are not available or are partially restricted in many countries around the world. Even in the United States, the availability of staking services varies from state to state. Always check if the platform offers staking services in your jurisdiction.
Make money on Coinbase
Launched in 2012, Coinbase is a US-based, trusted platform that makes it easy for people and institutions to participate in cryptocurrency. The company is also one of the only cryptocurrency exchanges publicly traded on the US stock market (Nasdaq) and has audited quarterly financial statements. Coinbase’s staking service is called Earn on Coinbase and supports several popular coins such as ETH, SOL, DOT, and ADA.
Advantages
- A trustworthy company based in the United States
- Excellent security record with no large-scale hacking
- Allows staking on multiple PoS tokens
- User-friendly interface and excellent accessibility
disadvantage
- Fewer tokens compared to competitors.
- Service is not available in all U.S. states
Why we love making money on Coinbase
Earn at Coinbase is a beginner-friendly staking platform that prioritizes accessibility, safety, and compliance. It is also the largest and most trusted US-based platform. In addition to staking services on the Coinbase.com app, Coinbase also offers competitive staking services for non-custodial and institutional customers.
KuCoin
KuCoin is a popular cryptocurrency exchange based in Hong Kong. KuCoin’s services are available in 200 countries, but in the United States, KuCoin’s services are very limited. Security is a major issue as the exchange has faced several major hacks since 2020. KuCoin also offers staking services for over 40 coins with relatively low fees.
Advantages
- Provides various cryptocurrencies
- APY is excellent for major tokens like ETH.
- Popular platform with large user base
disadvantage
- It is not regulated by any major financial institution.
- I have been hacked several times
- Limited access to services within the United States only
Why We Love KuCoin
Despite its poor security record, KuCoin remains a relatively decent staking option for customers outside the US due to its wide range of supported tokens, healthy APY, and low fees.
Binance US
Binance.US is a subsidiary of Binance.com, the world’s largest cryptocurrency exchange. The US version of Binance is strictly focused on the US market, and unlike its parent company, Binance.US is a separate exchange that offers fewer services and cryptocurrencies. Ongoing legal and regulatory issues have forced Binance.US to scale back its services and features.
Advantages
- Supports 17 major cryptocurrencies
- Provides various other cryptocurrency exchange functions
- Available in 44 US states
disadvantage
- It is under intense scrutiny by U.S. regulators.
- Hacking has been successful several times.
- Staking fees are high
- We no longer accept US dollars.
Why We Love Binance.US
Despite all the legal issues in the US, Binance.US still remains a popular staking platform due to its great user experience and variety of staking options.
Crypto.com
Crypto.com is a Singapore-based cryptocurrency exchange active since 2016. The company has over 80 million users worldwide. Due to regulatory reasons, the full service is not available in the United States. However, you can use the mobile app to access features including staking. It supports close to 20 tokens and promises healthy APY at a reasonable cost.
Advantages
- Supports staking for over 17 cryptocurrencies
- Transaction fees are low
- User-friendly app interface
disadvantage
- high withdrawal fees
- Mobile app only available in the US
- I experienced a security breach.
- Advanced features are not available in the United States.
Why We Love Crypto.com
With full support for USD trading, low trading fees, and an excellent mobile app, Crypto.com is a beginner-friendly platform for staking major cryptocurrencies.
All node
Allnodes is a US-based staking infrastructure provider active since 2017. The company provides non-custodial staking and node hosting services to individuals and businesses. As of 2024, Allnodes supports staking for over 57 tokens and protocols. Users can choose from a variety of flexible subscription options to stake with validator nodes.
Advantages
- Supports over 50 cryptocurrencies for staking
- Affordable subscription model for validator node hosting
- Trusted US-based company
disadvantage
- Not suitable for beginners
- There is no trading feature
- Some tokens have high staking requirements.
Why We Love Allnode
Allnodes is a very capable and responsive service targeting mid-level users and enterprises looking for a non-custodial platform to host their own nodes for staking.
connection point
Originally from Sofia, Bulgaria, Nexo also has offices in London and Switzerland. It is a centralized crypto platform focused on lending and borrowing. In late 2022, the platform added Ethereum staking services using the NETH liquid staking token. However, the staking service is not available in the United States.
Advantages
- User-friendly web interface and mobile app
- Various cryptocurrency loan products
- Supports ETH floating staking with high APY
disadvantage
- Most services are not available in the United States.
- Only supports ETH staking
- To receive loyalty benefits, you must purchase NEXO tokens.
Why we love NEXO
Although its primary focus is cryptocurrency lending, Nexo also has a reasonably well-designed ETH liquid staking option for non-US customers.
lido
Lido pioneered the concept of liquid staking in 2020, when ETH was transitioning from proof-of-work to proof-of-stake. The decentralized protocol unlocks staking for tokens such as ETH, MATIC, and DOT. It offers a simplified user interface and excellent security.
Advantages
- Intuitive and streamlined staking process
- There are low minimum requirements for ETH staking.
- Staking fees are lower than some of our competitors.
disadvantage
- Only a few tokens are supported
- We do not provide any other services
- No option to invest with cash
Why We Love Lido
Lido, Ethereum’s most popular liquid staking protocol, is a trusted protocol that offers strong APY and low fees.
steak
Stakely is a lesser-known non-custodial staking service provider with offices in the UK and Spain. The company has been active since November 2021. The company claims to have 67,000 users across 38 blockchain networks with a total value of $1.3 billion. Stakely serves businesses and individuals and boasts low fees of just 5% on staking rewards.
Advantages
- Supports over 40 cryptocurrencies
- There is no minimum limit on the staking amount.
- Provides insurance against loss
disadvantage
- Small company with limited online presence
- No trading or exchange services
- No information about US services
Why We Love Stakely
Although its online presence is relatively weak, Stakely seems to be a reliable staking service provider with access to 40 different tokens and very low service fees.
rocket pool
Rocket Pool is a Lido-like DAO protocol designed to democratize ETH staking. This protocol focuses only on ETH and allows you to participate in staking of any amount. The highly decentralized platform is easy to use and offers non-custodial staking services with no lock-up periods.
Advantages
- Fully decentralized non-custodial staking protocol
- It also offers ETH node staking for higher APY.
- A highly respected and trusted protocol
disadvantage
- Only supports ETH staking
- Low APY compared to competitors
- May not be a good choice for beginners
Why We Love Rocket Pool
Rocket Pool is a highly regarded non-custodial staking option for advanced users interested in ETH staking.
Implications for Investors
With over $90 billion staked, ETH will continue to dominate the staking landscape in 2024. Other top options include Solana, Cardano, Avax, and Polygon. Binance, Coinbase, KuCoin, and Lido are the best staking platforms in the global market.
Staking remains one of the safest ways to earn cryptocurrency and is now widely available through many platforms. For those who hold cryptocurrency, staking rewards are an easy way to earn profits while holding them.
Among the major cryptocurrency exchange platforms, Coinbase stands out due to its excellent security record, wide availability in 46 states, and a variety of staking options with excellent APY.
