There is a saying that nothing in crypto is guaranteed. However, that is quite the opposite when it comes to staking. For those that don’t exactly no what staking is let’s cover that first. Basically, participants pledge their coins to the cryptocurrency protocol. Every time a block is added to the blockchain, new cryptocurrency coins are minted and distributed as staking rewards to the block’s validator. Once you buy your chosen cryptocurrency you can then receive your interest payments which usually occur once per month. Now let’s go over the top 10 best staking coins to hodl for passive income.
Benefits to Staking Crypto
- It’s a way to earn interest on your cryptocurrency holdings, AKA, get that passive income.
- You don’t need any equipment for cryptocurrency staking
- You’re helping to maintain the security and efficiency of the blockchain
- And it’s also more environmentally friendly than crypto mining.
Where To Stake & What Coins to Buy?
BlockFi is a great place to earn interest on your crypto. They also do crypto-backed loans. Not going to touch on that, but I’m going to show you what I own here and we’re going to break down some of the interest rates. (watch video above)
Coin 1.Basic Attention Token – The Basic Attention Token (BAT) was created by the co-founder of Mozilla and Firefox, Brendan Eich, in an effort to improve the security, fairness, and efficiency of digital advertising through the use of blockchain technology. It is the native token of the Brave web browser and is built on top of Ethereum.
Coin 2. – Ethereum – Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum, and its own programming language, called Solidity. As a blockchain network, Ethereum is a decentralized public ledger for verifying and recording transactions. The network’s users can create, publish, monetize, and use applications on the platform, and use its Ether cryptocurrency as payment. Insiders call the decentralized applications on the network “dApps.”
Coin 3. – Uniswap – Uniswap is a leading decentralized crypto exchange that runs on the Ethereum blockchain. The vast majority of crypto trading takes place on centralized exchanges such as Coinbase and Binance. These platforms are governed by a single authority (the company that operates the exchange), require users to place funds under their control and use a traditional order book system to facilitate trading.
Coin 4. – Chainlink – Chainlink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. Smart contracts are pre-specified agreements on the blockchain that evaluate information and automatically execute when certain conditions are met.
Coin 5. – Bitcoin – Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. Bitcoin’s creator, Satoshi Nakamoto, originally described the need for “an electronic payment system based on cryptographic proof instead of trust.”
Now we’re going to get onto the next exchange, which is going to be eToro crypto. Now this is a cool exchange, and I don’t think it gets enough credit. I’ve been using it probably for a little bit over a year. They have two coins on here you can stake. Cardano, ADA, which is a great coin to get into. Maybe the price would be a little bit better to get into if it was a little bit lower, but if you’re looking at long-term, doesn’t really matter. They’ve also got Tron, TRX, which is one of the coins that I got involved with here. Now, the way it works as far as getting these interest payments, it’s always at the end of the month. Its of course automatic so once you buy in the payments will flow in every single month.
Coin 6. – Cardano – Cardano is a third-generation, decentralized proof-of-stake (PoS) blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks. Scalability, interoperability, and sustainability on PoW networks like Ethereum are limited by the infrastructure burden of growing costs, energy use, and slow transaction times.
Coin 7. – Tron – Tron is a blockchain-based decentralized digital platform with its own cryptocurrency, called Tronix or TRX. Founded in 2017 by a Singapore non-profit organization, the Tron Foundation, Tron aims to host a global entertainment system for the cost-effective sharing of digital content.
Okay, let’s get into the final three coins, which you can get on Binance.US. Now, my accounts got around $8,000 at the moment. The first coin I highly recommending checking out on here is going to be Alogrand. Now Alogrand’s a good coin. I wish I had more money in it, honestly. But I think long-term, it’s going to do well. And the interest rate for Algo on Binance.US is crazy. You can get 8% to 10% on Algo staking, which is amazing. I also recommend checking out Vechain, and Atom. Interest payments are usually between the 1st and 10th of the month.
Coin 8. – Algorand – Algorand is an open-source, decentralized blockchain network that leverages a two-tiered structure and a unique variation of the Proof-of-Stake (PoS) consensus mechanism to increase transaction speeds and achieve finality. Algorand’s block rewards are distributed to all ALGO coin holders, offering all ALGO holders an opportunity to earn rewards instead of just block producers.
Coin 9. – Vechain – Vechain is a blockchain platform designed to enhance supply chain management and business processes. Its goal is to streamline these processes and information flow for complex supply chains through the use of distributed ledger technology (DLT).
Coin 10. – Atom – Heralded as an “Internet of blockchains” by its founding team, Cosmos aims to create a network of crypto networks united by open-source tools for streamlining transactions between them.
The bottom line here is that staking crypto is a smart move when it comes to earning some passive income. It likely won’t make you rich unless your holding massive amounts of crypto, but at the same time small amounts add up and compound. Everything in life has small beginnings. Just getting started is the key.