Last updated on December 9th, 2024 at 10:29 am
Have you been looking for the best crypto staking coins to earn you passive income? Or have you been looking for in-depth guides to walk you through staking coins for passive income?
Crypto staking is another way of earning passive income in the cryptocurrency space. Most OGs or influencers leverage staking their favorite crypto token to earn passive income.
While crypto staking might be new to some newbies, it’s a process of participating in transaction validation on a proof-of-stake blockchain network. With this, you’re to lock up or stake some amount of coins in a pool to help maintain the network. while, in return, you get a specific amount of newly minted coins from the network as a reward.
Crypto staking is not jargon; it is similar to how the traditional system operates, like saving your paper money in the bank while you earn interest.
Moreover, individuals can stake coins on some crypto exchanges. Centralized and decentralized exchanges generate staking pools for anyone to stake their coins while they get rewards in return.
If you buy a coin and want to hold it for the long term, staking that coin can earn you passive income. You get rewarded for holding and staking that coin while its value may increase, making it a plus for you.
Some of the benefits of staking crypto include earning rewards, contributing to network security, and this doesn’t require any mining hardware.
This article details the best crypto staking coins as we analyze factors like staking reward, project overview, community strength & support, platform to stake, and how to stake these coins.
After reading this guide, you will find some potential coins you can stake, where and how you can stake them, and this is a go-to resource for individuals looking to earn passive income through staking crypto. Without so much ado, let’s delve into it!
Top 7 Staking Coins to Earn Passive Income Right Now!
Staking crypto coins differs based on the annual percentage rate (apr) or the annual percentage yield, and the common difference between these two is compound earnings.
APY compounds your earnings, which increases your earnings, leading to passive income, while APR doesn’t.
Check out: Farming Airdrops On Solana: A Definitive Guide To Earn Free Crypto
Moreover, here are the best top picks and well researched crypto coins from which you can earn passive income through staking.
7. BNB Coin
The BNB chain is powered by its native token, “BNB,” which is used in its ecosystem. BNB is used as a gas fee and can be exchanged for goods and services. Moreover, it also serves as a governance token.
There are several platforms offering staking pools on the BnB coin, and these platforms offer different apy or apr, while some may offer higher apy or apr. It is essential to double down and do your research about the platform before staking your coins.
You can stake BNB coins on Binance, TrustWallet, Coinbase, and Kraken Exchange and earn passive income.
How to stake BNB Coin
In these simplified step-by-step guides, we are going to use TrustWallet as a case study.
Step 1: Download the TrustWallet mobile app on the Google Play Store or Apple Store, create an account, and make sure you write down your recovery phrase so you can access your wallet when your mobile phone gets damaged or stolen.
Step 2: Open your trust wallet, click on the search bar, type BnB, and click on the BnB beacon chain.
Deposit BNB Coin in your trust wallet, buy BnB on a centralized crypto exchange like Binance, copy your BnB beacon chain trust wallet address, and send some BnB tokens.
Step 3: After the token arrives, click on Start Earning, and a section will pump up. The minimum amount to stake is 1 BNB with a 3.3% APY, and the lock time was 7 days at the time of writing this article.
Click on stake and input the amount you want to stake; check out some validators that may offer a higher APR; and click on continue. A page will pop up to confirm the stake. Follow the instructions, and you are good to go.
6. NEAR Protocol (NEAR)
If you have been in the crypto space, you will notice that Near is fast growing after falling from it’s all-time high in the previous bear market.
Moreover, this layer one blockchain has been gaining traction, and a lot of developers are building on the network. One of the projects that rivaled the blockchain network was “hot mining.”
Hot is a mining Web 3 application built on Telegram. You mine hot every hour. Hot is under near protocol, and you can start mining (click here) if you haven’t started.
How to Stake Near Protocol
There are several platforms to stake near and earn passive income, and these platforms include the following: trust wallet, Kraken exchange, atomic wallet, here wallet, coinbase exchange, and a lot more.
However, in this guide, we are going to use the Here wallet, which is the official wallet of hot mining, as a case study.
Step 1: Download a Here wallet from the Google Play Store or Apple Store, sign up with your details, and make sure you save your recovery phrase.
Step 2: Open your “Here wallet” and click on Portfolio, then click on Near. Copy your wallet address and deposit $near to your wallet.
Step 3: When you’ve deposited near your wallet, click on portfolio and click on stake to stake your near protocol. There’s no minimum stake, and you get up to 8.31% APY. Staking your near coins in “Here wallet” can earn you passive income.
5. Aptos (APT)
Aptos is a layer blockchain network that uses the proof-of-stake consensus mechanism. This blockchain employs a novel smart contract programming language called “Move,” which was developed by Meta, formally Facebook.
Individuals can earn passive income through staking aptos crypto, and here’s how to stake aptos coin.
How to Stake Aptos Crypto
You can earn passive income by staking aptos coin on several platforms, like the coinbase exchange, atomic wallet, kraken exchange, and Petra wallet, which is the official wallet for aptos coin.
In this guide, we are going to use the official wallet of Aptos for staking our coins for passive income. Please follow the steps below:
Step 1: Download the Petra wallet from the Google Play Store or Apple Store and create your wallet. Save your recovery phrase and keep it safe.
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Step 2: Deposit Aptos into your Petra wallet by buying Aptos from centralized exchanges like Binance, Coinbase, and more. Copy your Petra wallet address and send your aptos coins.
Step 3: In your Petra wallet, you will see an option that says “Stake to receive up to 7% in reward.” Click on it, move on to the next steps, and stake your aptos coin.
The minimum amount to stake is 11.05 aptos, and you earn a 7% reward. By staking your aptos coin, you earn passive income.
4. Solana (Sol)
Solana is a blockchain network that is quite fast in terms of transaction speed, and its low gas fee makes it easier for everyone of different standards, including the average crypto trader, to utilize the blockchain network or its ecosystem.
Here’s how to farm airdrop on Solana
However, there’s a lot of development going on; developers are building Dapp, Dex, gaming platforms, lending protocols, and more.
How to stake the Solana coin
There are several platforms to stake the Solana token, which include Binance, Kraken, Coinbase, TrustWallet, Kucoin Exchange, phantom wallet, and more.
However, we’re going to use a Phantom wallet for this guide, and here’s a step-by-step guide below:
Step 1: Download the Phantom wallet from the Google Play Store or Apple Store and create your wallet. Make sure to save the recovery phrase.
Step 2: Deposit the Solana token to your Phantom wallet. You can buy Solana from Binance, Bybit, and other exchanges and send it to your Phantom wallet address.
Step 3: After you’ve received your Solana crypto, kindly tap on the option “Start earning Sol” and choose a validator. The APY varies based on different validators; some offer 6.89%–7.57% at the time of writing. Click on any validator and stake a minimum of 0.00228 Sol.
3. Polkadot (DOT)
Polkadot is a protocol that connects blockchains — allowing value and data to be sent across previously incompatible networks (Bitcoin and Ethereum, for example). It’s also designed to be fast and scalable.
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The DOT token is used for staking and governance; it can be bought or sold on Coinbase and other exchanges.
How to stake polkadot (DOT)
Here’s how to stake polkadot on TrustWallet:
Step 1: Download the trust wallet, create a wallet if you haven’t, and deposit Dot to your Dot trust wallet address from the exchange you bought it from.
Step 2: Click on the option “Start Earning” and stake your dot. The minimum staking amount is 562 dots, and you get 14.82% APR.
2. Ton Coin
Toncoin is Toncoin’s native cryptocurrency. It is used for network operations, transactions, games, or collectibles built on TON.
Thus, Ton is a layer 1 blockchain network that has been gaining traction lately, and it was developed by the Telegram team.
How to Stake a Ton Coin
Here’s how to stake a Ton coin for passive income. Follow this step below:
Step 1: Download the official wallet of ton coin “Tonkeeper” from the Google Play Store or Apple Store, create an account, and don’t forget to keep your recovery phrase safe.
Step 2: Deposit ton to your tonkeeper wallet. You can buy ton from popular centralized exchanges like Binance, Bybit, and others.
Step 3: On your dashboard, you will find an option to stake Ton Coin; click on it. The minimum amount to stake is 1 ton, and you get up to 3.86% APY.
1. Atom
ATOM is the native token of Cosmos, a decentralized network that provides open-source tools for developers to create their own interoperable blockchains.
One of the biggest problems with blockchains is that they are created independently, and very few have the ability to transfer data between them.
How to stake Atom coin
Atom staking is available on several platforms, like Binance, Coinbase, Kraken, TrustWallet, and AtomWallet. These staking platforms offer different apy, and for this tutorial, we are going to use TrustWallet.
Here are some step-by-step guides to stake your atom coin in TrustWallet:
Step 1: Download TrustWallet from the Google Play Store or Apple Store and create your wallet. Don’t forget to keep your recovery phrase safe.
Step 2: Deposit the Atom coin into your trust wallet. You can purchase Atom coins from Binance and other notable exchanges and send them to your Atom Trust wallet address.
Step 3: On TrustWallet, after sending your atom coin, you will find an option for staking atom. Click on it and stake your atom. The minimum amount to stake is 0.000001 atoms with up to 13.68% APR. However, you can check for other validators to see their APR; some are higher, while others are lower.
Conclusions
In cryptocurrency, there are a lot of ways to earn passive income, and staking coins is no exception. Individuals can stake the aforementioned coins and earn decent APY or APR.
All you have to do is find the coin that suits you, buy it, and stake it. However, you can maximize your earnings by staking more than 2–3 coins.
However, individuals should note that there are risks to staking, such as impermanent losses and others. Moreover, the coins listed above have good utility and a strong community. You can still do your research before staking any of those coins.
With all these step-by-step guides, you can stake coins with a good APY or APR and earn passive income. Is there any other coin individuals can stake with a good APY or APR? You can share with me in the comments section below.
