Many crypto investors resort to staking their coins to earn interest. As with everything in the cryptocurrency field, you need to be up to date with the latest developments and trends so you don’t lose track – which, in the end, could be detrimental. If you’re new to the staking movement, keep reading to find out what it is and which coins are the best to stake.
Staking means holding crypto coins in a wallet that’s compatible with the POS (Proof-of-Stake) consensus for 30 days. After the 30 days complete, you are credited with the same crypto as a reward. The compensation depends on the crypto amount you were holding when you started staking them.
Top 3 Best Coins to Stake
Numerous coins do well pursuing this concept, but here are the top three crypto-assets worth staking.
Tezos is the first coin you should consider staking as the project is a decentralized blockchain with on-chain governance. After major exchange platforms launched their staking features in 2019, Tezos was the first coin to be supported by them. The best platform to stake Tezos is Binance, but you can also work with other exchanges if you see fit.
NEO is known as the Chinese Ethereum and is the first open-source blockchain project coming from China. There are two crypto-assets affiliated with the blockchain: NEO and GAS. The difference between this blockchain and most other networks is that when you stake NEO on this system, you are rewarded with GAS. Besides Atomic, there are other wallets you can use to stake NEO, including Exodus, Coinomi, and Trust Wallet.
Decred is the first hybrid POW/POS crypto project that appeared on the market. The coin’s goal is to use the benefits of both the POW and POS consensus to balance their respective weaknesses. The best platform to use to stake Decred is Binance.
In a Nutshell
Cryptocurrency staking became incredibly popular among crypto investors after Binance, and other exchanges started providing this service for zero fees. If you’re considering staking your coins, among other assets, the crypto projects mentioned in this article are a great place to start and the best options to use to generate passive income.