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- 1. Compare the best crypto staking platforms in 2023
- 2. Best crypto staking platforms overall for 2023
- 3. What are the best crypto staking platforms?
- 4. Top 6 staking platforms, reviewed
- 5. What is staking?
- 6. How does staking work?
- 7. How should I choose a crypto staking platform?
- 8. Should I stake crypto to earn rewards?
- 9. FAQs
Compare the best crypto staking platforms in 2023
This guide compares the top staking platforms and explains which features to look out for when you sign up. Learn how to start staking, which coins you can earn rewards on, and take a look at the pros and cons of setting up a staking account.
Best crypto staking platforms overall for 2023
What are the best crypto staking platforms?
Use the table below to pick one of the top platforms and start staking right away. You can sign up by clicking one of the links or keep reading to compare the features and rewards on offer from each platform.
77% of retail CFD accounts lose money.
Top 6 staking platforms, reviewed
1. eToro. Best for beginners, copy-trading & demo-account
Pros & Cons
We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.
77% of retail CFD accounts lose money.
2. Public. Best for sharing beginner trading ideas
Pros & Cons
We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.
Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.
The fees: Cryptocurrency trades are charged a 2.5% fee per transaction.
3. Bitstamp. Best for professionals & trading with APIs
Pros & Cons
We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand.
Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.
The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.
4. Uphold. Best for building long term wealth
Pros & Cons
We love Uphold because it’s a regulated and transparent digital asset platform. There are 160+ cryptocurrencies available to hold and trade, along with three fiat currencies; GBP, EUR, and USD.
Uphold’s key features include the ability to schedule transactions to avoid trying to time the market. With a focus on long term wealth building, Uphold also offers the ability to earn rewards of up to 25% on staked crypto, as well as 4% cashback paid in XRP for purchases made with the Uphold card.
The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.
5. OKX. Best for futures and margin trading
Pros & Cons
We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools.
From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.
The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.
6. Nexo. Best for earning interest & rewards
Pros & Cons
We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.
You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest.
The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee.
What is staking?
Staking is the act of storing your coins to help maintain a blockchain’s security. As this is such an important job, most cryptocurrencies offer an incentive to those who store their coins in a crypto wallet. Staking rewards are a little like interest payments, as they are paid at regular intervals as a percentage of what you hold in your account.
Staking is a feature of blockchains that work using ‘proof-of-stake’ (such as Solana or Avalanche). However, some crypto platforms let you earn interest on other assets, such as Bitcoin or fiat currencies, and we have included those on this page as well.
How does staking work?
It works by storing coins which are then randomly selected to approve new transactions on the blockchain. The more coins you stake, the more chance you have of being chosen and thus earning a reward for approving a transaction.
This method of validation is in contrast to energy-intensive ‘proof-of-work’ blockchains, like Bitcoin, which require a lot of computing power to approve transactions. Instead, the theory is that people who own the cryptocurrency will act honestly, or risk losing their stake.
How should I choose a crypto staking platform?
You should look for the platform that offers the best payouts, most security, and lowest fees. Below is a list of the most important things to consider before choosing a platform.
- Low fees. Many platforms offer staking automatically but there can be hidden fees, in the form of a commission or as a percentage of the total payout. This can run up to 25% of the total payout on some platforms. Generally decentralised finance or lending platforms, such as Nexo, charge the lowest fees.
- Timing of payouts. Some coins and platforms payout daily, while others are weekly or even monthly. Think about how long you want to lock your coins away for, and how easily you want to be able to access them in case you want to sell. Daily payouts offer more flexibility but often pay lower rewards.
- Rates of interest. Different coins offer different rewards, depending on how popular they are. But the rates can vary across platforms as well, so decide which coins you want to earn rewards on and prioritise the platforms that offer the best rewards on those cryptocurrencies.
- Range of supported coins. A wider range of staking options is often best if you want to actively move your money around to take advantage of the best rates. Again, dedicated DeFi lending platforms usually have the most variety, while brokers or exchanges are best if you want to automatically earn interest on a handful of coins.
- Fiat interest options. The best platforms allow you to use blockchain technology to earn far better rates of interest on fiat currency than is possible through a bank account. Simply storing GBP or USD and earning interest is the most risk-free way to take advantage of these services and is worth considering for beginners.
- Verification levels. Most staking services require some level of verification but if you don’t want to have to provide multiple forms of ID, it could be worth comparing what’s required across platforms. These days, however, any broker is required to comply with money laundering regulations so you will have to trade some anonymity for that security.
- Bonus payouts or additional features. If you want to maximise your rewards, look for platforms that offer higher payouts if you meet certain requirements. This might mean earning your payments in a particular cryptocurrency, keeping some of your portfolio in the platform’s native coin, or locking your money away for a longer period.
Should I stake crypto to earn rewards?
Staking crypto is a great way to earn extra money and it doesn’t require much expertise to get started. The best staking platforms make it simple to start earning and the amount of extra effort you put in is up to you.
There are some risks, particularly if you are paid in cryptocurrency because the price volatility can eliminate the value of your rewards. It’s also only suited for long term holders, because often you can’t touch your coins for a set period of time if you want to earn staking rewards.
Despite that, it’s almost a no-brainer to try to benefit from staking and there are ways to mitigate those risks. You can choose a platform that pays the rewards in fiat currency, or that doesn’t force you to lock up any money. Staking is one of the most attractive features in the cryptocurrency space, as it offers much better rewards than anything in traditional finance.
Pros and cons of staking
If you still aren’t sure whether to sign up for a staking platform, we can help. Below is a summary of the pros and cons of crypto staking platforms, followed by some final questions that you might need answered.
- Staking allows you to earn extra money with minimal effort
- You can use staking platforms to earn interest on fiat as well as crypto currency
- Staking is normally a free feature
- You can access staking on popular broker or exchange platforms like Binance, Coinbase, and eToro
- You can unlock higher rewards the more money you stake
What are the fees for staking?
Normally there isn’t a fee for staking, but there can be on the interest you earn. The fees themselves can vary dramatically between platforms, however. The likes of eToro and Coinbase take up to 25% of the interest, while dedicated crypto lending platforms charge significantly less.
It is safe, and all of the platforms we recommend are either fully regulated or insured for extra protection. The risk of staking comes from the value of your investments falling; particularly if you choose to get paid in a cryptocurrency that then falls in value.
Usually yes, although this varies depending on where you live and you should check the law in your jurisdiction. In the UK, staking rewards are treated as ‘income’ and may be taxed as such.
The answer is changing all the time, as different coins earn different rewards according to how many people stake them. It also varies between platforms, and sometimes a specific platform will pay a higher rate on a coin to attract more people to stake it.
Yes, you can. There are more than 100 coins available to stake on Binance, with higher rewards on offer if you lock the coins up for 30 days or more.
Yes, you can. There are four coins available to stake on Coinbase; ETH, ATOM, XTS, and ALGO. Coinbase starts paying out staking rewards automatically for any of the qualifying coins that are stored on the platform, but it does take a high percentage – 25% – of the reward as a fee.
More of the best crypto rankings
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