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Best crypto staking platforms
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.
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.
Top staking platforms
Here are the top five staking platforms, depending on what type of service you’re looking for. Read on to find out which platform tops each category and what you can expect from each one.
Best overall – eToro
eToro offers staking on some popular cryptocurrencies alongside its buying and trading features. It’s extremely simple to start staking on eToro, as the platform takes care of the entire process; you just have to have owned a qualifying asset for a certain period of time.
That qualifying period is different for each of the coins it offers staking on – ADA and TRX, with ETH available in some countries – but is normally less than 10 days. You receive the staking rewards automatically simply for holding the coin.
The most important thing to note is that you can only earn rewards on qualifying coins that are kept on the eToro trading platform, as opposed to the wallet or exchange. You receive the rewards monthly and are sent an email detailing the full breakdown of your money.
*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
For beginners – Coinbase
You can start staking on Coinbase by depositing as little as $1 and you are automatically opted in. You earn rewards for all qualifying assets you hold on Coinbase, regardless of whether you bought the coins on the platform or not; as long as they are stored in your Coinbase account, they are eligible to earn rewards.
Right now you can earn rewards on ALGO, ETH, XTZ, and ATOM. The payouts are daily for Ethereum and Algorand, while they are paid every 3 and 7 days for Cosmos and Tezos respectively.
You can earn interest of up to 5% on participating assets on Coinbase. This is in addition to its brokerage platform where you can purchase all the most popular cryptocurrencies as well.
For best rewards – Nexo
Nexo offers the best rewards for holding your crypto. You can use it as an alternative to a regular savings account by storing fiat currencies and earning higher rewards than you can get from any high street bank, or as a platform to earn interest of up to 30% on participating cryptos.
There are more than 30 cryptocurrencies available on Nexo and their rewards are flexible based on demand, while there is also the occasional boost that opens up even higher rates of interest for a short time. Fiat currencies like GBP, USD, and EUR are available too.
An added bonus on Nexo is that you can unlock higher rates of interest by meeting certain requirements, such as holding 10% of your portfolio in Nexo tokens. These rewards stack on top of each other to produce better rates than you can get anywhere else.
With an exchange – Binance
Binance is best known as the most popular crypto exchange in the world but it also offers staking on more than 100 cryptocurrencies. You can easily lock up your coins on Binance to earn generous rewards.
One of the features of Binance’s staking feature is that you won’t be able to use or sell your crypto while it’s locked in. You can choose to lock it up for anywhere between 30 to 120 days, depending on the coin, and the longer you choose the greater the rewards on offer.
All the leading cryptocurrencies are available to stake on Binance, and you can even earn rewards of up to 8% on Bitcoin. Plus, of course, you can use the platform to buy and sell many more coins whenever you choose.
With a wallet – BlockFi
BlockFi makes it easy to create a wallet, transfer money into it, and start earning crypto interest straight away. It also boasts extra features like a credit card that offers cashback on your purchases and a trading account.
You can earn rewards on lots of different coins with BlockFi. There are more than 20 available in total, including all of the leading lights, like Bitcoin, Ethereum, and Solana, through BlockFi’s crypto interest account.
Along with its wallet and staking features, you can trade cryptocurrency on BlockFi as well. While, for the really high earners, BlockFi also offers a bespoke option for anyone who contributes more than $3m to the platform.
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.
Fact-checking & references
Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.
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