7 best crypto staking platforms

Each year, we conduct a comprehensive review of crypto staking and rewards platforms. To arrive at these picks, we’ve compared more than 30 platforms on things like annual percentage yield (APY), how yield is generated, user experience, range of assets and risk mitigation tools.

Before you begin, it’s important to understand that crypto platforms generate yield in several different ways, each with different levels of risk attached. Our picks include products that can help you earn crypto with staking, lending and decentralized finance (DeFi).

⚠️ With regulations surrounding crypto staking constantly changing, some of these platforms or their earning feature may not be available in your location. Check this directly with the provider before creating an account.

Best crypto staking and rewards platforms of 2023

• Nexo – Best platform (overall)
• Gate.io – Best for range of staking assets
• Kraken – Best for on-chain staking
• Binance – Best for flexible staking periods
• Crypto.com – Best crypto staking broker
• Ledger Nano S Plus – Best crypto staking wallet
• Aave – Best DeFi staking platform

1. Nexo – Best platform (overall)

Read review

Nexo Cryptocurrency Exchange

63
Supported cryptos

3
Fiat currencies

• Why we chose Nexo
• Pros & cons
• Fees & deposits

How yield is generated: Lending

Nexo offers competitive rates on major cryptocurrencies with industry-leading risk management, is suitable for both beginners and advanced users and comes complete with exchange features. That's why it's our pick for the best overall platform for earning yield.

While many lending platforms see rewards fluctuate over time – sometimes daily – Nexo's rates are relatively stable and you can easily estimate your returns using the website's yield calculator.

Another stand-out feature of the Nexo platform is its risk management practices. Over-collateralized loans mean that borrowers must deposit more funds than they borrow, which ensures that lenders take on minimal risk. Lenders are also covered by Nexo's insurance policy in the event of a hack, theft or loss of private keys.

As an incentive to increase your reward rate and balance limits, Nexo uses a tiered loyalty structure. In order to receive higher returns and balance limits, lenders are encouraged to hold a percentage of their portfolio in the NEXO token, which also generates yield.

Pros

• Beginner-friendly platform with consistently competitive APYs
• Earn yield on fiat deposits as well as crypto
• Industry-leading security standards and insurance policies
• Offers exchange services and a debit card for spending crypto

Cons

• Not available to US customers
• Must hold a percentage of portfolio in NEXO to receive highest APY
• Less yield-earning cryptos than some competitors

Fees and deposit Methods	Bank transfer, Cryptocurrency, Credit or Debit Card
Deposit Fees	None
Withdrawal Fees	None
Trading Fees	None

2. Gate.io – Best range of assets and earning options

Go to site Read review

Gate.io Cryptocurrency Exchange

1592
Supported cryptos

8
Fiat currencies

• Why we chose Gate.io
• Pros & cons
• Fees & deposits

How yield is generated: Varies

Gate.io is our stand-out in this category thanks to the multiple earning products and range of assets it offers. Popular Gate.io earning products include:

• HODL & Earn. Subscription to a pool requires locking up your crypto for 7–14 days. Although APRs are typically high – sometimes in excess of 100% – pools have limited availability and can sell out quickly.
• Single-asset vaults. Lend your crypto to borrowers and earn a percentage reward for doing so. Single-asset vaults support hundreds of coins and tokens and daily APRs of +50% are not uncommon, although fluctuations are common.
• Dual currency liquidity mining. Gate.io offers liquidity mining on hundreds of trading pairs. Centralized exchange liquidity pools work in much the same way as on DeFi exchanges. Liquidity mining carries the risk of impermanent loss and this should be carefully considered when calculating APRs – higher return rates equate to a higher chance of impermanent loss.

Gate.io also features cloud mining, dual currency products and copy trading.

Pros

• Multiple ways to earn with a range of low- and high-risk products
• Hundreds of cryptos supported for single-asset vaults and dual currency liquidity mining
• Opportunities to earn on low-cap cryptos
• No DeFi knowledge required

Cons

• Not available to US customers
• Popular HODL & Earn pools can sell out quickly
• Liquidity pool APRs fluctuate daily and can be volatile depending on fund utilization rate
• Liquidity mining carries the risk of impermanent loss

Fees and deposit Methods	Bank transfer, Credit card, Cryptocurrency, Debit card
Deposit Fees	None
Withdrawal Fees	Fees vary
Trading Fees	Maker: 0.20% Taker: 0.20%
Advanced Trading Features	Yes

3. Kraken – Best for on-chain staking

Go to site Read review

Kraken Cryptocurrency Exchange

221
Supported cryptos

8
Fiat currencies

• Why we chose Kraken
• Pros & cons
• Fees & deposits

How yield is generated: On-chain staking, lending

Kraken differs from many other staking platforms in that it mainly supports on-chain staking to generate yield.

On-chain staking utilizes the blockchain's proof-of-stake consensus mechanism. By locking up eligible cryptos, node operators are helping to secure the network and in turn are rewarded when new blocks are generated.

This substantially reduces the counterparty risk when compared with other yield-generating products like lending or DeFi.

Kraken currently supports on-chain staking for 12 cryptos and offers returns of up to 20%, which makes it our top pick in this category.

Launched in 2013, Kraken is one of the oldest cryptocurrency exchanges and has a strong focus on high-end security and legal compliance.

Pros

• No waiting or bonding periods
• Payouts twice weekly
• No fees or fixed lock-up durations
• Staking available via the Kraken website or mobile app

Cons

• Recently shutdown in the US and facing regulatory scrutiny in other markets
• Fewer cryptos available for staking than competitor lending services
• ETH staking is more complicated and can result in admin fees and waiting periods
• Lower rewards than running a node yourself – Kraken takes a commission

Fees and deposit Methods	Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay
Deposit Fees	Fees vary
Withdrawal Fees	Fees vary
Trading Fees	Maker: 0.00-0.16% Taker: 0.10-0.26%

4. Binance – Best for flexible staking periods

Go to site Read review

Binance Cryptocurrency Exchange

370
Supported cryptos

71
Fiat currencies

• Why we chose Binance
• Pros & cons
• Fees & deposits

How yield is generated: On-chain staking, DeFi staking

The option to choose between short- and long-term lock-up periods makes Binance our top pick for flexible staking.

Binance supports staking on 100+ cryptocurrencies and offers attractive APRs on some tokens. Staking durations range from 7–120 days and require low minimum token balances to start earning. Keep in mind that staking durations differ between tokens and pools can sell out at Binance's discretion.

If you choose to remove your funds before the lock-up period ends, your assets will be refunded into your Binance spot account. Early redemption will result in the APR accrued being deducted from your initial investment.

DeFi staking is also supported. This is the process in which Binance, by proxy, stakes your assets in on-chain yield earning pools. Binance's DeFi staking works in a similar manner to its traditional staking services. However, Binance claims it 'will not assume liability for any losses incurred due to project on-chain contract security issues'.

Pros

• 100+ coins and tokens supported
• DeFi staking supported
• Low minimum token balance required
• Lock-up durations of 7–120 days
• Attractive yield rates

Cons

• Not available to US customers
• Early redemption results in a loss of yield accrued
• Staking pools can sell out
• Binance is not liable for losses incurred in DeFi staking pools

Fees and deposit Methods	Bank transfer, Credit card, Cryptocurrency, Debit card, P2P
Deposit Fees	None
Withdrawal Fees	Fees vary
Trading Fees	0-0.1%
Advanced Trading Features	Yes

5. Crypto.com – Best staking broker

Read review

Crypto.com App

★★★★★
Finder rating

266
Supported cryptos

31
Fiat currencies

49
States supported (incl. CA, FL, HI, TX)

• Why we chose Crypto.com
• Pros & cons
• Fees & deposits
• States supported

How yield is generated: Off-chain staking

Crypto.com offers staking APRs on dozens of popular cryptocurrencies. This wide range of assets with flexible length lock-ups and an easy-to-use app make Crypto.com our pick for the best crypto staking broker.

Crypto.com offers staking deposit durations of 1 and 3 months, as well as a flexible term option. Rewards are paid out in the same currency that you used to stake and are transferred to your crypto wallet every 7 days.

Rewards are calculated based on a tiered loyalty structure – you must stake a certain amount of Crypto.com's native coin, CRO to receive the highest APR. You can estimate your rewards through the website's earn calculator.

Pros

• Easy-to-use app
• Earn staking rewards on dozens of cryptos
• Rewards paid weekly to your Crypto.com wallet
• Flexible staking durations

Cons

• Tiered structure – less CRO staked equates to a lower APR
• Desktop support not available

Fees and deposit Methods	Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, Wire transfer, Apple Pay, Google Pay, SWIFT
Deposit Fees	None
Withdrawal Fees	Cryptocurrency: Fees vary
Trading Fees	Maker - 0-0.075% Taker - 0.05-0.075%

AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, DC

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5. Ledger Nano S Plus – Best staking wallet

Go to siteRead review

Ledger Nano S Plus Wallet

$79
Price (USD)

5,500+
Assets

Hardware
Wallet type

• Why we chose Ledger
• Pros & cons

How yield is generated: On-chain staking

The Nano S Plus supports on-chain staking for a small selection of cryptos.

Staking via a hardware wallet is one of the safest ways to earn yield on your crypto. Unlike when you use a centralized staking platform, your assets are held securely offline in cold storage at all times.

This additional layer of security, in combination with a wide range of yield-earning cryptos to choose from, makes the Ledger Nano S Plus our choice for best staking wallets.

Ledger's Web3 app, Ledger Live, is an all-in-one solution that allows you to stake a modest range of cryptos through a single interface. You will need to use third-party apps to access staking features for the full range of cryptos supported by the Nano S Plus.

• Earn yield while knowing your crypto is secured in cold storage
• Stake directly through your favorite project's wallet, or via Ledger Live
• Safely store all of your digital assets in one location
• Rewards paid directly into your Nano S Plus wallet

• List of yield-earning cryptos is not as comprehensive as some exchanges or wallets
• On-chain staking can require a more advanced
• knowledge than a simple 'click-to-earn' platform
• Management and security of staked assets falls on you as the owner of the wallet

5. Aave – Best DeFi lending platform

What is a crypto staking platform?

Crypto staking platforms let you deposit your digital assets with them in exchange for rewards.

This reward – or yield – can be generated via staking, lending or through DeFi. Some services may even use a combination of these methods to provide you with yield. Each method has its own unique risk profile, so it’s important to understand how each works before you decide which platform is right for you.

On-chain staking

This involves locking up a blockchain’s native coin which is then used in proof-of-stake (PoS) consensus to secure the blockchain. Staked funds are used as collateral, which allows the staker to act as a network validator: confirm transactions, secure the network against malicious nodes and generate new blocks. In return for providing these services, the staker is rewarded with freshly minted coins.

On-chain staking is considered a relatively safe way to earn yield. This is because the process is largely automated and validators are motivated by rewards to ensure everything goes smoothly. But, if they do the wrong thing or make a mistake, they can receive a slashing penalty in which a portion of the collateral is lost.

Dive deeper into crypto staking

Lending

Crypto lending involves asset holders lending coins or tokens to a platform for a fixed or variable period of time. These assets are aggregated and made available to borrowers who pay a fee. This fee is then paid as an annual percentage yield (APY) to lenders.

Many crypto trading platforms now support crypto lending and offer competitive returns for lending your unused assets. The most important thing to understand when lending crypto is the platform’s collateralization model.

Collateralization refers to the amount of capital a borrower has to deposit as collateral, in order to take out the loan. Over-collateralized loans are preferable as they require the borrower to deposit more funds than they are borrowing, which substantially reduces the risk profile for lenders.

Our complete guide to crypto lending

DeFi

Decentralized finance involves using blockchain applications to emulate many of the complex financial services found in traditional finance. At a glance, it can seem quite daunting. However, if responsibly used, it can provide a useful tool for passive income. While DeFi yield earning opportunities are vast, one of the most popular is liquidity mining.

Liquidity mining involves depositing two or more cryptos into a liquidity pool. This liquidity is made available for users of the platform to perform swaps and trades. By doing this you are acting as a liquidity provider (LP). Traders pay fees to use the pool which are distributed as APY to LPs.

Before acting as an LP, it is important to thoroughly understand impermanent loss and the role that this plays in your yield earning potential.

DeFi explained

How to choose the best platform for crypto staking rewards

It’s important to research a wide range of platforms and compare the pros and cons of each option. The best crypto staking platform for you depends on what you’re looking for.

How to use a crypto staking platform

Before depositing assets into a staking or lending platform, you should follow a few simple steps to help build an investment strategy:

1. Deposit funds. Deposit the asset/s that you intend to invest. Depending on the platform, deposits can be made using fiat or cryptocurrencies.
2. Decide on a variable or fixed yield. Variable rates fluctuate based on market conditions and can be hard to calculate over a long period of time. Fixed rates make estimating your returns over a certain period of time a lot simpler. Some platforms even offer a yield earning calculator.
3. Select a lock-up duration. Longer lock-up periods often equate to an increased percentage yield. However, consider what crypto you’re holding before committing long term. If you aren’t confident in the project or may need to access your funds at short notice, an anytime withdrawal option is probably best.
4. Collect your yield. Some providers distribute your yield on a daily or weekly basis and allow you direct access. Other platforms will auto-compound your returns, reinvesting and increasing your deposited funds until the contract comes to a close. Keep in mind that although some providers distribute yield on a regular basis, they will deduct this from your initial investment for contract breaches such as early termination.

Risks of staking on a crypto platform

There are always risks associated with investing, and crypto staking and lending pools are no exception. Be aware of the risks involved and how best to mitigate them:

• Counterparty risk. Counterparty risk is the chance that a company may default on its contractual obligations. If a platform experiences a financial default, you may lose some or all of your funds. Counterparty risk can be minimized by choosing to earn yield through staking, rather than lending, or choosing a lender with an over-collateralized model. Look for a platform with an insurance policy to cover such events, or transact on-chain with DeFi.
• Yield rates. APYs vary drastically from platform to platform. If you notice a return rate that is “too good to be true”, take the time to understand how and why that rate is offered. Whether it’s a risky project or involves impermanent loss, there is often a reason why such incredible rates are being offered.
• Price volatility. Cryptos are inherently volatile. When planning your staking or lending, take into consideration how your assets might move. If you’re confident in holding your cryptos long term, locked staking or lending might be a suitable way to build up your balance. For higher-risk investments that you might want to sell, a variable-term, early withdrawal option is usually best.
• On-chain earning. Staking and lending directly on-chain requires a solid grasp of how to use non-custodial wallets and make blockchain transfers. If you make a mistake along the way, there is no customer support on offer and all transactions are final. Incorrect usage can result in lost funds.
• Under-collateralized lending. Under-collateralized lending is a high-risk method that counts on the exchange generating profits. If it fails to do so, you’re at risk of losing all of your assets.
• Tax may apply. It may come as a surprise, but crypto transactions made on-chain or through an exchange are generally considered taxable events. Make sure you’re aware of your local tax agency’s treatment of cryptocurrencies, consider tracking your transactions with dedicated crypto tax software and consult a financial adviser if you’re unclear.

Bottom line

There are lots of ways to put your cryptos to work and potentially earn attractive rewards for doing so.

Risk tolerance is the biggest thing to consider when you’re deciding on the best place to stake your crypto. Traders looking for higher risk and higher rewards may be more inclined to delve into the world of DeFi. Those happy to earn consistent and relatively stable returns might opt for on-chain staking or a crypto lending platform with a sound insurance policy and lending model.

While there is no perfect way to earn yield on your crypto, proper planning and research can help you build a solid investment plan, take confidence in your strategy and let your assets do the work for you.

Frequently asked questions

• Are crypto staking platforms safe?

  Investing of any kind has associated risk. Before staking or lending your cryptos, it is best to thoroughly research how the yield is generated, who is behind the project and what security measures or insurance policies are in place.

  It's a good idea to check whether the staking platform you're researching is registered with your local regulator as well, as this means it's required to comply with local anti-money laundering (AML) and counter-terrorism funding (CTF) laws.

• Is staking your crypto worth it?

  Staking and lending crypto is a unique way to get your digital assets working for you. Periods of negative market growth can sometimes even be counteracted through high-yield earnings.

  Whether staking is worth it comes down to individual preference and your personal risk profile. If you're holding cryptos long term, passive returns can be one way to increase your account balance.

  If you're an experienced investor confident with short-term trades, hedging and yield farming, long-term lock-ups and centralized staking may not be as attractive.