Earn Interest on Crypto – 4 Best Staking Platforms

By June 15, 2022June 16th, 20223 minute read
Earn Interest on Crypto - 4 Best Staking Platforms
Note: This blog is written by an external blogger. The views and opinions expressed within this post belong solely to the author.

As cryptocurrencies continue to disrupt traditional financial markets, they have also opened up new investment avenues for the average investor. While the buy-and-hold technique is one of the most popular crypto strategies for generating higher yields, staking is rapidly becoming a viable alternative.

Sure, the crypto market is as lucrative as it is risky, but unlike the stock market, it operates 24/7, and not everyone has the time or resources to monitor the market constantly and fine-tune their investment strategies.  This is where crypto staking comes in. Staking allows investors to earn passive income on their crypto assets without being consumed entirely by the volatility of the crypto market. Here’s everything you need to know.

Crypto staking: An overview

In its most basic form, staking is the crypto equivalent of putting money in a high-yield savings account. When you put money in a savings account, the bank usually takes it and lends it to others, and you get a percentage of the interest collected in exchange for keeping your money with the bank.

Likewise, you lock up your money to participate in the blockchain’s operation and security when you stake your digital assets. In exchange, you will receive incentives based on percentage yields. These profits are generally significantly higher than any bank’s interest rate.

Staking also improves the security and efficiency of the blockchain projects you support. By staking your funds, you essentially increase the blockchain’s capacity to endure attacks and execute transactions. Generally, staking-enabled cryptocurrencies use a “consensus mechanism” called Proof of Stake (PoS) to ensure that all transactions are validated and secured without the involvement of a bank or payment processor.

Getting started with crypto staking: Top 4 platforms

Crypto staking is no hurdle; it is open to anyone interested in participating. While becoming a full validator can require a substantial minimum investment, technical knowledge, sophisticated hardware, as well as major security considerations, a dedicated staking platform where you can contribute any amount you can afford to a staking pool is one of the easiest ways to get started with crypto staking. This not only lowers entry barriers but also enables investors to begin earning rewards without the hassles of owning and controlling any equipment.

Get WazirX News First

* indicates required

Here are the top 4 crypto staking platforms for you to check out.

#1 –  AQRU

AQRU is an easy-to-use app that allows users to purchase, invest in, and receive income on their crypto assets. Users can deposit their assets on the site with just a few clicks via crypto, bank transfer, or credit card payment, and deposits come at no extra cost.  Yields range from 1% for BTC and ETH to 15% for EUR and USD-denominated assets. And the best part is,  unlike most crypto staking platforms, which require users to deposit their funds for a set amount of time, AQRU has no lock-in period.

#2 – BlockFi

BlockFi, founded in 2017 by Zac Prince and Flori Marquez, distinguishes itself from other cryptocurrency service providers by combining low charges with institutional-quality features. With BlockFi Interest Accounts (BIA), users may earn attractive returns on their crypto deposits. Starting the day after depositing, assets locked in BIA will accrue monthly compounding crypto staking rewards, delivered to account holders at the end of each month. Moreover, the BlockFi Wallet facilitates all deposits and reward accumulation.

#3 – Crypto.com

Crypto.com allows users to earn up to 14.5% APY on their crypto, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Lumen (XLM), and other compatible coins. The platform supports over 40 cryptocurrencies and stablecoins, allowing investors to choose from a wide range of products. With intuitive navigation and simple tools, Crypto.com’s user-friendly mobile application makes staking effortless for inexperienced users. Staking rewards are calculated daily and distributed on the platform every seven days.

#4 – Binance

Binance Exchange is one of the world’s largest cryptocurrency exchanges by trade volume. Staking on Binance can be as simple as simply holding your coins on the platforms. There are no fees, and users may take advantage of all the additional perks of holding their cryptocurrencies on Binance. All users need to do is keep their PoS coins on Binance, and all technical requirements will be handled for them. Staking awards are typically given out at the beginning of each month.

Get started with crypto staking today and start earning massive rewards.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
Participate in the Indian Crypto Movement. Share:
Shashank

Shashank

Shashank is an ETH maximalist who bought his first crypto in 2013. He's also a digital marketing entrepreneur, a cosmology enthusiast, and DJ.

Leave a Reply

WazirX NewsLetter

SUBSCRIBE FOR THE WAZIRX NEWSLETTER TODAY!

What do you get?

● Blockchain & Crypto specific news, updates, tips, contest alerts and more.

● Insights about what is happening at WazirX.

● One email per week. No spamming - We promise!