Staking cryptocurrency is an excellent way for investors to earn interest on their assets, by holding and supporting the network of a particular blockchain. Staking requires you to lock up your crypto as collateral to help validate transactions and ensure the network runs smoothly.
When you stake, you earn rewards in the cryptocurrency that you are staking, eg: if you stake ADA (Cardano), you will earn more ADA as rewards. A commonly asked question by investors is "Which are the best cryptocurrencies for staking?" In our article we will tell you the top staking coins, with the best APY returns, and explain how and where to stake them.
How to stake the best APY coins
The easiest way to stake the best APY coins listed above are to use a crypto exchange that supports staking. Our #1 choice is Binance, because it offers a massive range of more than 350 coins to stake, and the exchange often has the highest APY reward rates.
However, one downside of Binance is that it is not supported in the USA. There is a sister site, Binance.US, but it has limited functionality and may not feature all the coins that you want to stake.
To see the best places to stake any of the coins in this article, click on the relevant button below. We have created an article for each of them.
Where to stake the best crypto staking coins
What to consider when choosing to stake a coin
In this article we have listed the best coins for staking, but you must consider various important factors before deciding to choose a coin to stake. These are a few of the main considerations:
- Rewards yield (APY): The expected returns is the first factor most investors consider when choosing a coin to stake, since it is the rewards that draw people to staking in the first place. Besides the staking rewards, you can also profit from potential appreciation in the value of the staked coin. You need to do your own research (DYOR) on the coin to see if it is likely to grow in value, to determine whether it is a good asset to stake.
- Coin security: Security is a critical factor to consider when deciding on a coin to stake, as the process can involve locking up your coins for a period of time. It's important to research the security measures in place for each blockchain, as well as the crypto exchange you use for staking, to ensure your funds are safe.
- Flexible or fixed staking: Another factor to consider is whether you need access to your staked coins. Some crypto exchanges allow flexible staking or fixed term options. When you keep it flexible, you can withdraw your crypto at any time, allowing you to transfer, sell, or swap them whenever you like. Fixed term options mean you cannot withdraw your crypto until the set duration expires, but in return, you receive higher rewards.
- Project viability and future potential: You should also consider the whether the project behind the coins that you choose to stake is a legitimate one. Is there potential to grow, and does it have long-term viability? You need to research the development team, the stage of the project, future plans, and look at market sentiment and demand for the coin. If you choose coins that are backed by strong projects with solid fundamentals and a clear roadmap, you have a better chance of seeing better gains.
We hope you have found this article useful; we showed you the best crypto staking coins in 2023, with the highest yields. It is extremely easy to stake any of the cryptocurrencies in the article, but first you need to consider all factors and whether it is a good investment choice for your personal needs. If you interested in earning interest on stablecoins, you can read our article here.
Frequently Asked Questions
At the time of writing, AXS (Axie Infinity) has the highest APY. You can click here to see the best places to stake AXS and earn the highest APY interest.
When we wrote this article, staking AXS (Axie Infinity) has the highest APY, at almost 38% APY. Read our article on where to stake AXS to earn such high yield.
AXS (Axie Infinity) provides the highest staking rewards, at nearly 38% APY. See this article to find out how you can earn the highest rates on AXS.