I know I know, everyone "says" they have the secret to passive income (the holy grail of income sources), but one of the things I have always liked about cryptocurrency is that it does give you some great avenues for passive income like other investment vehicles. In the stock market you can earn passive income with dividends.
If you are not familiar with dividends they are small , passive, payments, made by a corporation to its stockholders. In the crypto market it works in a somewhat similar manner, so follow along with the 'Stache while I show you the some of the best places to stake your crypto for passive income gains.
What is Staking?
Staking is the process of holding funds in a cryptocurrency wallet or platform to support the operations of a blockchain network. Users are rewarded for simply depositing and keeping their coins on the platform, similar to a savings account, but way better!
Now of course, not every cryptocurrency is a Proof-of-Stake coin, but they have certainly risen in popularity over the last few years. Some popular staking coins include: TRON, NEO, Cardano (coming soon!), Stellar, IOST, Cosmos, Tezos, and many more. Let's take a look at some of the easiest cryptocurrency platforms to do your staking on for great passive returns.
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Best Staking Platforms
Binance Staking - Not only is Binance the worlds most used exchange, they also have the best staking platform out there! With staking on Binance, users can receive staking rewards (between 1 and 20%) all while just being a regular Binance user. For all users, this means more freedom & accessibility into staking participation for all chains, without giving up full liquidity. If you want the easiest and most secure way to stake your coins for passive income then Binance is the way to go.
Coins you can stake: LOOM, KAVA, Trezos, ATOM, TRON, Algorand, ONE, Fetch.ai, Stratis, QTUM, Komodo, Vechain, Ontology, NEO, Elrond and Stellar.
Stake Capital - Based in Europe, Stake Capital is a Home of Decentralized Finance for PoS chains and DeFi products. Stake Capital is effortlessly and trustlessly participate in emerging digital economies. They provide financial instruments and services on top of the leading DeFi and staking networks. Stake Capital supports a range of different DeFi services.
Coins you can stake: Loom, Livepeer, Cosmos, Tezos, Kusama, NuCypher, IDEX, Decred, Ethereum, Iris, Algorand, Polkadot, Edgeware, Straightedge, Terra, Kava, Libra, Celo, Torus, Elrond
Everstake - Everstake is a team of experienced developers, financial experts and blockchain enthusiasts. They run highly secure and reliable nodes for PoS protocols using enterprise-level hardware to ensure maximum efficiency and security.
Coins you can stake: Tezos, Cosmos, ICON, IoTex, IOST, Decred, IRISnet, CyberWay, Dash, EOS, ARK, Algorand, Harmony, NKN, EtherZero, Terra, Aion, Remme and DAOBet.
Figment Networks - Figment Networks is a providing institutional grade staking infrastructure, Hubble explorer and Staking Hub community.
Coins you can stake: Cosmos, Tezos, Livepeer, Kusama, Terra, Kava, IRISnet, Chainlink, Algorand, Harmony, Horizen, ICON, AION.
MXC - MXC Platform is more of a staking pool than the other platforms mentioned here. There are two types of PoS on MXC---"Stakings" and "Savings". Users can either join "Stakings" or "Savings" behind the respective cryptocurrencies on PoS Pool page, so it's a little different than the rest.
Coins you can stake: Suter, IOTX, BTC, CVNT, LTC, Decred, Ethereum, Tron, IOSToken, EOS, COSMOS, SERO, Common Knowledge Base, Tether, Newton, Bitcoin Cash ABC, XAS, ZCoin, Kusama, ARPA and Fusion
HashQuark - HashQuark, member of HashKey Group, is a staking service provider focusing on public chains built upon the likes of PoS and DPoS, including Cosmos, IRISnet, V SYSTEMS, CyberMiles, Cybex, VeChain, IOST, Tezos, etc. With HashQuark, token holders simply need to store tokens into their accounts and receive staking rewards in return.
Coins you can stake: Cosmos, Tezos, ChainX, Dash, IRIS, CyberMiles, QTUM, VeChain and EOS.
Hope you liked this short list of some of the top staking platforms out there for passive income in crypto. More great resources coming at you soon, but until then...
'Stache That Crypto Friends!
Posted from my blog: https://www.cryptostache.com/2020/01/16/best-cryptocurrency-staking-platforms-to-generate-passive-income-in-2020/