Everywhere you go in the cryptocurrency space these days you hear about staking. It's particularly talked about in the DeFi circles and with the current state of the economy it's no wonder people are flocking into it to try and be their own bank. You can make a decent profit off of staking, but of course, it's what you put in that determines what you'll get out.
Please note that this is not an exhaustive list, it's just my personal picks. I'm also not going to be talking about interest account platforms like Crypto.com and BlockFi. I've talked about Crypto.com and their Crypto Earn feature in previous articles so give those a read once you're done with this one.
5th Place - Ontology (ONT)
Ontology was started by the same guys behind NEO (formerly Antshares) so it's backed by plenty of experience. It's built to be used by enterprises to support blockchains in both the public and private sector. You can stake it in your Atomic Wallet for about 5.6% annual yield or over on Binance for between 3-5% annual yield. It's currently sitting at #30 on Coingecko, but it fluctuates up and down a lot from day to day.
4th Place - Algorand (ALGO)
Algorand is one I'm personally excited to see more from purely because the team behind it is pretty solid. It hasn't been a great week for their market cap, but they're still comfortably in the top 50 coins and it's been an overall strong month. You can stake in Atomic Wallet for about 5.6% annual yield or on Binance for 8-10% which is a pretty nice percentage.
3rd Place - Cosmos (ATOM)
Cosmos is a name that I knew nothing about until very recently when I started seeing it climb in market cap and be featured in quite a few articles. I've been taking a look into it and there's a lot to this one, particularly in regards to interoperability between blockchains. It's got a good earn rate on Atomic Wallet at 10% and is on Binance at 6-9%. I think this is definitely one to watch.
2nd Place - Synthetix Network (SNX)
Staking is a fairly recent addition for Synthetix, but it's catapulted them up 950% in price which is impressive by almost anybody's standards. Staking is done through their Mintr dApp and you can access it directly through Metamask or Ledger to make things easy. Their reward can be as high as 57%, but with such a high earn rate and already impressively growing market cap this could end up slowing down. Overall, it's still a very solid project.
1st Place - Tezos (XTZ)
You knew this one was coming, right? At this point Tezos is basically synonymous with staking and it's been doing quite well for itself having managed to crack the Top 10 of both Coingecko and CoinMarketCap. That's no small feat. You can stake it from your Atomic Wallet, you can stake it on Coinbase, you can stake it on Binance, etc. No small number of options and annual return seems to be between 6-7% depending on where you stake. Tezos has been labelled as a possible ETH killer, but that definitely remains to be seen and with ETH 2.0 edging closer and closer that could be a game changer. One thing is for sure, the competition will help them both.
Questions for Readers
- What coins are you currently staking?
- What's your personal top 5 staking coins?
- How do you think DeFi will evolve in the coming year?
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