6 best staking crypto coins to invest in February 2024

Our experts pick the 6 most profitable staking coins to invest in that combine strong foundations, unique tech and the highest upside for the future.
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Updated: Feb 13, 2024
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With so many different crypto projects available today, it’s never been more important to invest in the best ones. Pick wisely and you can make 10x or more on your money with staking cryptos, but poor quality projects can flop during crypto’s notorious winters.

We’ve picked out the top 6 staking coins with the most potential to help you make the best investment decisions. Compare the leading lights with the latest projects to find the 6 best staking cryptos to buy today.

Top 6 crypto staking coins to buy now

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  1. Bitcoin Dogs: First ever Bitcoin ICO and best for dog-loving crypto investors
  2. Memeinator: Best for leveraging AI & social hype into regular price rises
  3. Chancer: Best for creating your own crypto betting markets
  4. Metacade: Best for crypto gaming, play-to-earn rewards & exclusive tournaments
  5. Polkadot: Best for helping blockchains communicate & share data
  6. Tezos: Best for a secure crypto staking coin

Summary of the best cryptos to stake

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RankStaking coins listSymbolPriceMarket cap
1Bitcoin Dogs0DOG$0$0
2MemeinatorMMTR$0.0118$810,440
3ChancerCHANCER$0.01$241,442 (presale)
4MetacadeMCADE$0.02$26.37m
5PolkadotDOT$4.46$5,909,986,816
6TezosXTZ$0.71$672,508,060

Detailed reviews of the best staking crypto with the highest staking rewards

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1. Bitcoin Dogs: First ever Bitcoin ICO and best for dog-loving crypto investors

0DOG/USD
  • Symbol: 0DOG
  • Market cap: $0
  • Current price: $0
  • Founded: 2024
  • Whitepaper

Overview

Bitcoin Dogs is the first ever presale on the Bitcoin blockchain, a BRC-20 crypto in a world dominated by ERC-20 altcoins that use the Ethereum chain.

Bitcoin Dogs is built for dog lovers as well as crypto enthusiasts. There’s going to be a metaverse where you can be part of an online community, as well as the ability to buy or create your own doggy NFTs, then care for them and show them off within a gaming environment.

The Bitcoin Dogs crypto is $0DOG, and there are going to be 900 million created – as that’s the total number of dogs in the world. Owning $0DOG means you can be a part of this canine community, and earn rewards keeping hold of your tokens through a staking scheme as well.

The presale is perfectly timed to take advantage of converging trends. Similar projects, like Bitcoin Cats, have exploded in popularity and seen tens of millions in trading volume within hours of launch, while 2024 is the year of the latest Bitcoin halving, traditionally a great opportunity for investors, and NFTs are tipped for a comeback this year.

All of this makes Bitcoin Dogs our highest rated token this year. The first BRC-20 presale won’t be the last, and the BTC blockchain could become the pre-eminent crypto ecosystem. Bitcoin Dogs is a great way to get in on the ground floor of this new wave of altcoins built on Bitcoin.

Key features

First presale on the Bitcoin blockchain Invest in NFTs and use them in-game Earn staking rewards on $0DOG tokens Trends suggest a Bitcoin boom this year BRC-20 tokens could become the industry standard Similar projects have gone viral in the past

Key negatives

Very early stages of presale Limited features at this point in the roadmap
Trade Bitcoin Dogs More about Bitcoin Dogs

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2. Memeinator: Best for leveraging AI & social hype into regular price rises

MMTR/USD
  • Symbol: MMTR
  • Market cap: $794,789
  • Current price: $0.0118
  • Founded: 2023
  • Whitepaper

Overview

Memeinator is a next generation meme coin, designed to destroy all other memes by attracting investors with a powerful marketing campaign and a host of exciting perks. During the Memeinator presale, early investors benefit from guaranteed price rises every at regular intervals. From there, the goal is to reach a $1bn market cap, then to become the biggest meme in the world.

The path to that destination is littered with intriguing product upgrades to give MMTR tokens a variety of use cases. A staking protocol is part of the early stage launch, while the Memeinator game and NFTs follow soon afterwards. All of these provide utility for the MMTR token, increasing demand and driving up the value.

This desire to create real use cases for the Memeinator token is part of what makes it stand out compared to other memes, where there is little to no practical reason to hold the coins. Likewise, the developers moved early to have the project audited by third party blockchain security experts, Solid Proof. Robust security along with practical value makes Memeinator one of the top investment options this year.

Key features

Regular price increases throughout presale A meme token with utility, in staking, gaming, and purchasing NFTS Audited by third party security programmers

Key negatives

Very early in the project's development
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3. Chancer: Best for creating your own crypto betting markets

CHANCER/USD
  • Symbol: CHANCER
  • Market cap: $985,688.26
  • Current price: $0.011
  • Founded: 2023
  • Whitepaper

Overview

The decentralised predictions platform, Chancer, is our expert pick as the best crypto coin to buy in 2023. Chancer allows you to create your own markets and make predictions on events created by the community. It’s the ‘Bet365 of the blockchain’, a platform that tilts the prediction market power back towards individual users.

When you own the CHANCER token, you have the ability to set up live prediction markets on any event, whether it’s live TV, the latest Premier League game, or anything else that springs to mind. You set the rules, you set the payouts, and then you can place your wager along with everyone else on the platform.

The community is a big part of Chancer’s early success, because it recreates the social aspect of betting that has made it so popular for centuries in an offline world. You can even live stream your markets, creating a unique opportunity to share the thrill of the bet with the Chancer community.

Key features

Bet tokens on live markets created by the community Create your own betting markets on any event and spread the word to earn rewards Earn more tokens from successful predictions

Key negatives

Still in the early stages of development
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4. Metacade: Best for crypto gaming, play-to-earn rewards & exclusive tournaments

Metacade
  • Symbol: MCADE
  • Market cap: $18.38M
  • Current price: $0.01
  • Founded: 2023
  • Whitepaper

Overview

Metacade is the best new crypto gaming platform, a virtual arcade that combines the best of GameFi with the latest metaverse technology. On Metacade you don’t pay to play, you play-to-earn on the latest blockchain games.

New games are added all the time, while there’s also the opportunity to make your own, using a create-to-earn model where you make money based on how many other people play your game. There’s more, too, as MCADE tokens are your ticket to compete-to-earn tournaments and prize draws where you can win exclusive prizes.

All of this is set in a community-driven metaverse that shares many characteristics with a social network. There’s the opporutnity to network with like-minded people, while the future is set to include the possibility to literally buy virtual land parcels within this world. That could drive the hype around MCADE to new levels and the value of the token to all time highs.

Key features

Combines play-to-earn, compete-to-earn, and create-to-earn models into one single package Use your unique skills as a gamer or a developer to earn MCADE Access a virtual hangout to network with other blockchain and gaming fanatics

Key negatives

Limited games on the platform for now
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5. Polkadot: Best for helping blockchains communicate & share data

Polkadot
  • Symbol: DOT
  • Market cap: $9.68B
  • Current price: $7.55
  • Founded: 2020
  • Whitepaper

Overview

Polkadot was created in 2016 by the co-founder of Ethereum, Dr. Gavin Wood. It is a project that aims to solve a number of the problems that have prevented blockchain technology from being adopted by the mainstream. The coin uses multi-chain technology and a PoS consensus mechanism to produce scalable smart contract functionality.

The minimum staking amount to start earning rewards is 40 DOT tokens, and given the current price of Polkadot, this gives it a moderate entry level for stakers. However, it is important to note that if you want to create a validator node, your contribution will need to be a much more substantial 350 DOT before you get any staking benefits.

You can stake DOT in various ways, including on Kraken, Binance, and through a Fearless Wallet. Crucially, DOT is also consistently a top-10 coin and has historically risen in price. The combination of high yield, the strong fundamental value of Polkadot’s technology, and stable price accretion means DOT has achieved wide popularity.

Key features

Established cryptocurrency project that's created by the co-founder of Ethereum, Dr. Gavin Wood Staking DOT is relatively easy and you can earn passive rewards with a small initial outlay Large market cap with lower volatility than others

Key negatives

There are lot of Ethereum competitors on the market
Trade Polkadot More about Polkadot

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6. Tezos: Best for a secure crypto staking coin

Tezos
  • Symbol: XTZ
  • Market cap: $1.07B
  • Current price: $1.10
  • Founded: 2017
  • Whitepaper

Overview

Tezos is a crypto project that raised a whopping $232 million during ICO funding in 2017, and later launched in June 2018. Today, it is a renowned top-50 blockchain that aims to compete with projects like Ethereum while handling upgrades and developments without needing hard forks. The project also has an added emphasis on security tokens.

When you stake Tezos’ native token, XTZ, you become a ‘baker.’ Annual rewards on your staked assets typically range between 7% and 11%, and your initial reward payments will be credited after a lock up period of 35-40 days.

The vast and loyal Tezos community – exemplified by the platform’s social media presence and fundraising success – combines with consistently strong returns to make it an excellent investment option.

Key features

Tezos is a top 50 blockchain with a vast community  It's a safe project that focuses on security Stable staking rewards are available

Key negatives

Tezos has struggled to achieve widespread adoption
Trade Tezos More about Tezos

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What are staking coins?

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Staking coins, also known as stakable coins, are cryptocurrencies that support staking as a mechanism for securing the network and validating transactions. Many of these projects are also decentralised finance coins, as staking offers an alternative way to earn income on your money without using a bank.

These coins are designed to operate on Proof-of-Stake or PoS-like consensus mechanisms, where participants lock up a certain amount of tokens as collateral to participate in the network’s consensus and earn rewards, a little like earning interest.

The main risk of investing in staking coins is that your capital is locked up for a set period. This means that if a price surge occurs, you will be unable to sell, and if a price crash happens, you will be unable to act accordingly.

How many staking crypto coins are there?

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There are over 250 crypto staking coins available today. Staking isn’t possible with all types of cryptocurrency and is only available with coins that use a proof of stake protocol.

Many of the best staking crypto coins have large market caps and established platforms. The largest crypto staking coin is Ethereum. Other notable crypto staking coins include Binance Coin (BNB), Avalanche (AVAX), USD Coin (USDC), Polkadot (DOT), and Cardano (ADA).

How does staking work?

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Crypto staking involves holding and “staking” a certain amount of cryptocurrency in a wallet or on a crypto staking platform to participate in the network’s proof-of-stake (PoS) consensus mechanism to earn passive rewards.

Instead of relying on mining, where computational power is used to validate transactions, PoS networks rely on validators who hold and lock up a specific amount of tokens in a ‘staking pool’ as collateral to secure the network and validate transactions.

To stake, you have to own a specific crypto that supports staking and meet the minimum staking requirement. Some common cryptocurrencies that support staking are Ethereum (ETH), Cardano (ADA), Polkadot (DOT), and Tezos (XTZ). You then ‘lock up’ a certain amount of stakable tokens in the designated wallet or crypto platform, which act as collateral for your commitment to network security.

Different networks have varying staking periods, during which the staked tokens are locked and cannot be accessed or transferred. The duration of a lock up period can range from a few days to several months or longer. Throughout lock up periods you receive rewards in the form of additional crypto tokens for your participation.

Why do some crypto coins offer staking while others don’t?

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Cryptocurrencies that use proof-of-stake or variations of PoS consensus mechanisms inherently support staking. These networks require validators to stake tokens as collateral and offer staking rewards to incentivise good behaviour, making staking an integral part of their design.

This is not the case for Proof-of-Work blockchains, like Bitcoin, which rely on crypto mining rather than staking. Though these coins do still sometimes offer staking returns, as it incentivises long term holding and participation in the crypto project.

The decision to offer staking options may also align with the project’s goals and philosophy, such as producing an emphasis on community involvement. The top staking coins generally abide by these goals as well as offering a simple monetary transaction where you can earn staking rewards.

How to find the best crypto to stake

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With so many options over which crypto coins to stake, finding the right project can be a challenge. Use the guide below to find the best crypto staking coins for 2024.

  • Research the project. Conduct thorough research on the staking coin project. You should look into its development team, technology, roadmap, and community engagement, to assess its potential for long-term success and stability.
  • Evaluate staking rewards. Analyse the staking rewards offered by different projects. Consider factors such as annual percentage yield (APY), staking duration, and token supply dynamics to determine the profitability of the staking program. Don’t just pick the coin with the highest staking rewards (although this is obviously a factor), consider sustainability and risk as well.
  • Review token economics. Examine the token economics of the staking coin, including its utility, scarcity, and demand. A well-designed token economy with a clear use case and growing adoption can enhance the value proposition of staking. You want to choose a successful coin, as there’s no point staking ETH or staking Solana if you think the token itself is going to lose value and wipe out any crypto rewards you earn.
  • Check security measures. Ensure the project implements robust security measures, such as smart contract audits, bug bounties, and strong governance mechanisms, to mitigate the risks of staking and protecting your assets.
  • Participate in its community. Evaluate the community engagement and development activity surrounding the staking coin project. Active communities, regular updates, and a busy ecosystem indicate a project’s commitment to growth and sustainability.

Conclusion

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If you are looking for the best crypto staking prospects, the key things you need to be looking at are the expected ROI – which is presented as a percentage – and the coin’s level of volatility.

You can maximise your crypto staking rewards by looking for a coin with the best ROI. Then, by using technical analysis to review a coin’s price action, you can work out whether or not it is a good time to stake it, and if it is likely to have depreciated when you come to sell it.

When it comes to choosing a crypto to stake, you want a coin with a stable price and a consistent, strong yield level. As a result, you may want to avoid highly volatile coins, coins that have recently undergone significant price accretion, or coins with substantially rising trading volume.

FAQs

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Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.