HODL and stake! This method has become an attractive alternative to trading for many cryptocurrency investors. I am a huge fan of staking and I believe that you love it too. That`s why I decided to write this post about my personal TOP 5 staking coins.
First on my list is $KAVA which is basically a multi-chain Maker DAO. It offers to give collateralized decentralized loans with stable coins to users of major crypto assets like Bitcoin, Ripple, Cosmos, BNB, and others. $Kava is actually about to break open the world of multi-chain decentralized finance as Kava`s lending platform is compatible with several crypto assets.
I am staking my $KAVA in Trust Wallet.
2. BAND Protocol
Another favorite staking coin of mine is $BAND which is a cross-chain data oracle platform. It provides decentralized finance applications with secure and reliable access to trusted data. Band Protocol does it by connecting smart contracts with trusted off-chain data and ensuring its integrity using a delegated proof of stake and token economic incentives. Band Protocol also claims to be fast, decentralized, scalable, and easy to implement.
I am staking my $BAND in Atomic Wallet.
3. Binance Coin
One of my absolute favorite staking coins is $BNB. Binance Coin already has lots of different usecases and Binance is coming up with new usescases from time to time to give their native coin an extra boost.
There are many different ways to generate passive income with your $BNB besides staking it. For example, you can also use the Binance Launchpool, Binance Launchpad, or the $BNB Vault.
The Binance Launchpool is issuing and launching new tokens. You can earn them by staking certain cryptocurrencies in the Binance Launchpool. You can always use your $BNB to farm these newly issued tokens on the Launchpool.
The Binance Launchpad gives you the chance to participate in token sales with your $BNB. The formats of these token sales may change frequently but one thing is for sure: You always need $BNB to participate in a token sale on the Binance Launchpad.
The $BNB Vault is a $BNB yield aggregator. Staking $BNB in the Vault means participating in Launchpool, Savings, Defi staking, and other projects and at the same time gaining rewards. When you deposit $BNB into the Vault, your rewards will be distributed the next day.
Of course, I am staking my $BNB on Binance.
PancakeSwap and BakerySwap are also having a safe place in my personal TOP 5 staking coins list. Both are decentralized exchanges (DEX) built on Binance Smart Chain.
Low fees open up both DEXes to more and more users, who may wish to trade smaller sums, something which is currently not possible on Ethereum based decentralized exchanges because of the extraordinary high gas fees. What small investors can`t do on Ethereum, they can do it now on the Binance Smart Chain.
I am staking my $CAKE and $BAKE on Binance.
Another really hot staking coin is $DFI. DeFiChain was created especially for DeFi Services and applications. At the same time, DeFiCain provides the optimal infrastructure for security, speed, and access.
It is not a general-purpose platform like Ethereum. It is designed for Decentralized Finance. The clue is that DeFiChain is not built on Ethereum like many others. It is built on Bitcoin as a software fork. It is anchored to the Bitcoin blockchain.
I am staking my $DFI with CakeDeFi. You still can get a bonus of $30 in $DFI when you register on CakeDeFi´s website and fully verify your account. After you made your first deposit and you will receive a bonus of $20 worth of $DFI. The minimum deposit to receive your bonus is j$50 in any supported cryptocurrency like Bitcoin, Bitcoin Cash, or Dash. If you use a referral code for signing up (528168), you and your referrer will receive an extra $10 worth of $DFI. This makes a bonus of $30 in $DFI in total.
My Final Words
So, these are my personal TOP 5 staking coins and when you don´t find your favorite staking coin on this list then it doesn´t necessarily mean that´s a bad one. It is just not on my list.
Nevertheless, I am also interested in your favorite staking coin. Let me know in the comments!
At the end of my post, I also like to remind you that my intention in this post is to raise your awareness of staking and my intention is not to replace your own research. 🤓
I hope I could provide you with some interesting and useful information about staking.
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