Staking directly on a blockchain involves becoming a validator and can be complex for the uninitiated. This is one reason some users choose to stake via cryptocurrency exchanges. The process is as simple as clicking a button and typically requires a small minimum investment.
For our best crypto staking platforms of 2024, we assessed exchanges and trading apps based on several factors. These include the number of coins available for staking, security, customer service, educational resources and trading fees.
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Best cryptocurrency exchanges for staking
- Crypto.com Exchange: Best for crypto trading apps.
- Coinbase Exchange: Best for transparency.
- Binance.US: Best for trading bitcoin.
- Gemini: Best for availability in all 50 states.
- eToro: Best for brokerage services.
Why trust our investing experts
Our team of experts evaluates many investing products and analyzes various data points to help you find the best product for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.
- 20 crypto exchanges reviewed.
- 40+ data points analyzed.
- 3-step editorial review.
- 5-step fact-checking process.
Best for crypto trading apps
Crypto.com Exchange
Blueprint Rating
Coins
350+
Trading fees (maker/taker)
0.075%/0.075%*
*For Level 1 trades
Why it’s the best
Crypto.com Exchange is an exchange by trade. But it’s also an entire ecosystem.
According to CoinMarketCap, its native coin, cronos, ranks among the top 40 cryptocurrencies by market cap. Paying in CRO can get you discounted trading fees.
Crypto.com also offers a wide range of products, including its Rewards+ program. You can also earn extra rewards through Soft Lockup. It’s a yield-earning program that’s more flexible than the standard CRO lockup.
Most of Crypto.com’s services are available through its mobile app. But unfortunately, New York residents can’t access them.
Pros and cons
Pros
- A good app with an easy-to-use interface.
- Tiered banking cards allow customers to transact in crypto.
- Numerous features within the ecosystem.
Cons
- Came under pressure post-FTX collapse.
- Fees can be high if you don’t hold the native CRO token.
- Some services are only available via the mobile app.
More details
- Staking coins: 20+.
- ETH staking: ✔.
- ADA staking: ✔.
Best for transparency
Coinbase Exchange
Blueprint Rating
Coins
240+
Trading fees (maker/taker)
0.40%/0.60%*
*For trading volumes of $10,000 or less
Why it’s the best
Coinbase is the second-largest crypto exchange in the world. Its rare public status gives investors some badly needed peace of mind in a notoriously opaque sector.
The exchange offers a wide range of coins, which is excellent for convenience. But if you use the platform’s basic version, you’ll be charged heftier trading fees.
Coinbase also offers Coinbase Advanced for active traders. This version offers in-depth technical analysis and charting via TradingView and real-time order books. You can pay a monthly subscription fee for Coinbase One to get as low as zero trading fees, more rewards and better support.
Coinbase allows you to stake ethereum (ETH), solana (SOL), cardano (ADA), cosmos (ATOM), polygon (MATIC), tezos (XTZ) and polkadot (DOT).
Pros and cons
Pros
- A public company means there is greater transparency.
- Staking is available for ethereum, solana, tezos, cosmos, cardano and polkadot.
- No major hacks.
Cons
- Doesn’t offer free BTC trades like Binance.US.
- Some competitors offer lower fees.
- Coinbase is not licensed in California, Hawaii, Indiana, Massachusetts, Montana, Wisconsin and Wyoming.
More details
- Staking coins: 20+.
- ETH staking: ✔.
- ADA staking: ✔.
Best for trading bitcoin
Binance.US
Blueprint Rating
Coins
150+
Trading fees (maker/taker)
0.40%/0.60%*
*For trades of $10,000 or less in 30 days for Tier I pairs
Why it’s the best
Binance.US is the U.S. trading arm of Binance, the largest cryptocurrency exchange by market cap. Binance.US also ranks in the top 20 largest exchanges.
Trading fees vary based on volume. BTC/USDC spot market pairs qualify for zero trading fees. Tier trading (which begins with Tier 1) starts at 0.40% for maker fees and 0.60% for taker fees at volumes of $10,000 or less. You can get a 5% discount by paying your fees in BNB.
The platform also supports over-the-counter trading. This lets you get customized quotes with prices negotiated directly between you and your buyer or seller. Some may appreciate the added discretion of this feature when trading large sums. There’s no additional fee for this service, although spreads apply.
One point of concern is the Securities and Exchange Commission’s recent allegations regarding the platform and its partner company, Binance. Regulators accused Binance.US of operating without registering in the U.S. The Commodity Futures Trading Commission also filed a complaint against Binance.
Binance.US is unavailable in Alaska, Hawaii, Maine, New York, Texas, Vermont, American Samoa, the Northern Mariana Islands and the U.S. Virgin Islands.
Pros and cons
Pros
- No trading fees for bitcoin.
- Wide ranges of cryptocurrencies and features.
- Wide range of coins for staking.
Cons
- Not available in all 50 states.
- The mobile app isn’t well rated on Android.
- Regulatory actions are concerning.
More details
- Staking coins: 20.
- ETH staking: ✔.
- ADA staking: ✔.
Best for availability in all 50 states
Gemini
Blueprint Rating
Coins
70+
Trading fees (maker/taker)
0.20%/0.40%*
*For trades up to $10,000 in 30 days
Why it’s the best
Gemini’s cryptocurrency platform allows you to trade and store over 70 coins. It offers just three cryptos for staking: ethereum, solana and polygon. But staking solana is not available to U.S. customers. So U.S. residents are just left with two coins to stake.
Gemini also has a currency called the Gemini dollar, a U.S. dollar-backed stablecoin.
The New York-based exchange is available in all 50 U.S. states. It’s lauded for its wide variety of features, including trading, a digital wallet and a credit card. But be mindful that the exchange charges higher fees than its competitors. For example, you’ll be on the hook for a convenience fee if you use the web or mobile app for trades.
Like many exchanges, Gemini has experienced difficulties recently. In January 2023, Gemini Earn, the company’s yield-earning product, was terminated.
Pros and cons
Pros
- Easy to use with a good interface and mobile app.
- Many features are offered.
- Easy to use and stake in ethereum, solana and polygon.
Cons
- U.S. users can stake only two coins.
- The Gemini Earn program suspended withdrawals amid the FTX crash.
- Fees are higher than some rivals for low-volume users.
More details
- Staking coins: 2.
- ETH staking: ✔.
- ADA staking: ✘.
Best for brokerage services
eToro
Blueprint Rating
Coins
100+
Trading fees (maker/taker)
1%
Why it’s the best
eToro is more than a crypto platform. You can also trade stocks, exchange-traded funds and options. It’s an excellent choice for anyone who wants to invest under one virtual roof. You can even diversify your crypto portfolio with ETFs. These include the Grayscale Bitcoin Trust BTC and iShares Bitcoin Trust.
The crypto ETFs on the platform are especially appealing given the trading fees. Individual crypto trades have a 1% flat fee, which is steep relative to peers. On the other hand, ETFs, stocks and options have zero commissions.
eToro’s other standout features include plenty of support and educational materials. You can get help via chat, ticket and phone. eToro Club members can even contact the platform on WhatsApp.
The platform is available in almost every state. The exceptions are Hawaii, Nevada and New York and U.S. territories such as Puerto Rico, Guam and the U.S. Virgin Islands.
Pros and cons
Pros
- Great selection of cryptocurrencies.
- Crypto ETFs are available with no commission.
- Plenty of support and educational materials.
Cons
- High crypto trading fee(s).
- ETH is not available for staking.
- Not available in Hawaii, Nevada or New York.
More details
- Staking coins: 2.
- ETH staking: ✘.
- ADA staking: ✔.
Compare staking exchanges and apps
| COMPANY | NUMBER OF STAKING COINS | ETHEREUM STAKING | CARDANO STAKING |
|---|---|---|---|
Crypto.com Exchange | 20+ | Yes | Yes |
Coinbase Exchange | 16 | Yes | Yes |
Binance.US | 20 | Yes | Yes |
Gemini | 2 | Yes | No |
eToro | 2 | No | Yes |
Methodology
We researched some of the largest cryptocurrency exchanges to rank the best for staking. The platforms that made our list excelled in areas across the following categories:
- Coins available.
- Trading fees.
- Withdrawal fees and other fees.
- Additional trading features.
- Customer service.
- Education.
- Security and storage.
- Staking.
- USD withdrawals/deposits.
- Margin trading.
Within each major category, we considered several subcategories. We then combined them to give an overall score for that category.
Data points were scored on a 0.00 to 1.00 scale. The top raw score was 0.75, curved to a five-star rating as the highest possible score.
Why other crypto exchanges and trading apps didn’t make the cut
We limited our review to the top platforms because of the risks inherent in the area. The industry remains unregulated. Many exchanges operate in an opaque manner.
“While investors can profit from crypto staking similar to earning interest on a bank deposit, it’s important to recognize that staking platforms inherently carry more risk compared to traditional financial institutions,” said Ethan Jiang, assistant professor of finance at Western New England University.
Cryptocurrency and staking are still in their nascent stages. As these systems develop, it’s best to stick to larger centralized cryptocurrency exchanges.
Final verdict
Staking is a good way to earn passive income on coins you hold over the long term. But choosing a cryptocurrency exchange or app for staking can be tricky.
It can be challenging to look beyond Coinbase, at least while regulations allow it to offer a staking product. Its security is among the best, its educational resources are strong and the platform is relatively simple.
Binance.US is another solid option if you want to stake multiple coins. It has 20 coins available to stake but is more opaque than Coinbase.
Crypto.com offers the most coins for staking with 20-plus, but its fees can run high.
What is crypto staking?
Crypto staking is a method of earning extra rewards on cryptocurrencies you hold. Jiang said it works similarly to a certificate of deposit at a bank. You earn interest by effectively depositing cryptocurrency on a blockchain for a specified period, which can range from several days to over a year.
The crypto platform uses the staked coins to validate transactions on the blockchain through a proof-of-stake mechanism. Anyone who wants to validate new transactions on the blockchain must stake cryptocurrency. This helps keep them honest in their work. Any incorrect or fraudulent validations could cost them their staked coins.
Consider the risks before you start crypto staking. “Staked crypto assets rely solely on the security of the underlying blockchain network,” Jiang said. “If a staked pool is compromised due to a hack or if the staked token is delisted from exchanges, resulting losses can be irreversible.”
How to choose the best crypto staking platform
There are many factors to consider when choosing a crypto staking platform. You want one that’s intuitive and secure with enough features to satisfy your appetite.
Consider the following aspects of any crypto staking platform before signing up:
- Coins available for staking. More isn’t always better. All you need is a platform with the coins you want to stake.
- Fiat currency accepted. You may want to buy crypto or turn your existing profits into cash. Ensure the platform accepts fiat currency.
- Trading features. Check that the trading platform is a good fit for your needs. Some exchanges and apps are better suited to technical trading. Others are easier for beginners.
- Customer service. How can you contact the platform if something goes wrong?
- Education. The crypto landscape is constantly evolving. Having easy access to educational materials where you trade can be helpful.
- Security. The crypto industry is rife with bad actors and risks. Look for a platform that takes extra steps to keep your data and crypto secure.
Frequently asked questions (FAQs)
Staking comes with risk. The most obvious is the price volatility of the staked assets. As a staker, you’ll receive a yield paid out in the staked asset. But if the price of that asset declines more than the yield, you’ll lose money.
This risk is exacerbated by many cryptocurrencies requiring staked tokens to be locked up for a period.
Other risks are also present. Staking can be complex and requires advanced technical knowledge. This can lead to mistakenly sending crypto to untrustworthy platforms or falling prey to scams.
Staking exists in the decentralized realm where limited oversight or regulation exists. For example, Kraken shut down its staking service in the U.S. in February 2023. This is a prime example of the uncertainty in the area.
Staking rewards vary from crypto to crypto. Many cryptocurrencies operate via proof-of-stake mechanisms. This means many yield levels are available.
The bigger coins typically earn less yield per year than more obscure ones. For example, the current estimated reward for ethereum staking was slightly more than 2% in early June 2024.
Lesser-known coins, which often advertise higher yields, tend to be extremely risky.
Several crypto platforms let U.S. citizens stake coins. These include Crypto.com, Coinbase, Binance.US, Gemini and eToro.
But the world of staking is in constant flux. Platforms can change their availability and offerings anytime, as evidenced by Kraken. The site stopped allowing staking to U.S. customers in 2023. Stay current on crypto news if you plan to get involved in this space.
The biggest downside to staking is the risk. Volatile asset prices could lead to large swings in staking rewards. There’s also the risk that you stake a coin that is later delisted. There’d be no recovering your losses in this case.
These risks are exacerbated by the fact that you must lock up your crypto to stake it. The value of the staked coin could plummet during your lockup period. All you could do is watch it fall.
You also must pay attention to the security risks of any crypto investment. Scams, hacks and fraud are rife in the industry. Any money you invest is at risk and thus should be money you can afford to lose.
Yes, you can lose your staked coins. Crypto assets are not insured like bank deposits. The Federal Deposit Insurance Corp. will help make you whole if your bank fails. But no one can bail out crypto investors if the tide turns against them. So you could lose any money you invest in staked coins.
The risk of loss is greatest with lesser-known coins and exchanges. This is why we recommend using a bigger platform and sticking to highly traded coins.
Staking crypto is one way to get a little extra return on your assets. But it isn’t for everyone. You should weigh the potential return against the inherent risks before staking coins. Never stake an asset you aren’t prepared to lose.
You should also be prepared to lock up your staked coins for a time. These vesting periods can range from a few days to more than a year. And a lot can happen in a year in the realm of cryptocurrency.
