# Cryptocurrency
Crypto staking is one of the best ways to make money without investing much time and effort compared to trading digital currencies. To begin staking cryptocurrencies and earn money, you first need to know various things like the minimum amount to start staking, locking period, etc. This article helps you get started with crypto staking by analyzing how staking works on multiple popular platforms.
What Is Crypto Staking and How Do You Make Money With It?
Crypto staking is a way to make money or earn rewards by locking your crypto holdings for a certain period. In some cases, crypto networks use locked-up holdings to validate the transactions on the blockchain. In exchange, the network rewards the holder for staking their crypto. On the other hand, various exchanges support “soft staking” and pay interest for staking crypto on their platforms.
Popular Crypto Staking Platforms
Let us go through some popular crypto staking platforms and look at the minimum amount of funds you need to get started with crypto staking.
eToro
eTorois one of the leading social trading platforms that offer a simple, secure, and hassle-free process for staking cryptocurrencies.
Supported cryptocurrencies for staking on eToro
- Cardano (ADA)
- Tron (TRX)
- Ethereum (ETH) - once ETH 2.0 is fully launched
No minimum amount is required to start staking the supported cryptocurrencies on eToro. However, you need to stake Cardano for a minimum of 9 days and Tron for 7 days to get the staking rewards. The platform will also support Ethereum staking once ETH 2.0 is fully launched.
Your staking rewards depend on your eToro membership level, staking period, and the amount of crypto you staked. Depending on your membership level on eToro, you will get 75-90% of staking rewards, and the remaining will be taken by eToro as fees. The minimum staking reward on eToro is 1 USD.
Kraken
Krakenis one of the most popular crypto trading platforms that allow on-chain and off-chain staking crypto and fiat money.
For on-chain staking, Kraken supports more than 10 cryptocurrencies including Cardano (ADA), Algorand (ALGO), Cosmos (ATOM), Solana (SOL), Polkadot (DOT), Tezos (XTZ), etc. For off-chain staking, Kraken supports Bitcoin (BTC), Euro (EUR), US Dollar (USD).
There is no minimum staking period on Kraken. However, the minimum amount for starting with off-chain staking is 0.00000001BTC, 0.01 USD, 0.01EUR. For on-chain staking on Kraken, there is no minimum amount.
Kraken does not charge any fees for both on-chain and off-chain stakings. You will get anywhere between 0.25 - 23% rewards per annum based on the type of staking and crypto asset you staked.
Binance
Binanceis one of the leading crypto trading platforms that offer two types of staking services - Locked staking and DeFi staking.
The platform supports more than 100 cryptocurrencies, including Terra (LUNA), Aave (AAVE), Binance Coin (BNB), Chainlink (LINK), Polkadot (DOT, Cardano (ADA), Algoeand (ALGO), etc. The minimum amount and rewards vary as per the asset you staked. You can choose the minimum locking period between 30, 60, 90 days.
Binance does not charge any staking fee, and you can get from 1% to 75% rewards based on the crypto asset you staked.
Gemini
Geminicrypto trading platform allows you to earn interest on your crypto holdings through its feature called “Gemini Earn”.
The platform supports more than 40 cryptocurrencies and allows you to earn up to 7.4% APY on your crypto holdings. There is no minimum amount, no minimum time period to start earning with the Gemini Earn feature.
The interest is compounded daily, and the rewards are paid out daily. Gemini does not charge any hidden fees for transferring or redeeming from Gemini Earn.
Uphold
Upholdis a unique platform that allows trading between cryptocurrencies, precious metals, US equities, and national currencies.
The supported cryptocurrencies for staking on Uphold are Polkadot (DOT), Ethereum (ETH), with an estimated APY of 10.5% and 4.25%, respectively. The platform plans to add more crypto assets to stake shortly.
The minimum amount required to start staking on Uphold is $25. The minimum period depends on the unbounding period for the staked crypto asset. Uphold charges 2% fees for staking Ethereum, and the rewards are paid out every Saturday.
Cex.IO
Cex.IOcrypto exchange allows staking, and you can earn from 2.6% to 14% annual yield based on the crypto asset you choose to stake.
Cex.IO supports Zilliqa (ZIL), Solana (SOL), Everscale (EVER), Songbird (SGB), Cosmos (ATOM), MetaHash (MHC), Tron (TRX), Cardano (ADA), Tezos (XTZ), Polkadot (DOT), and MATIC for staking.
The minimum amount required to start staking depends on the crypto asset you choose, and there is no minimum period to stake. The platform pays rewards monthly, and they differ based on the crypto asset you staked.
Crypto.com
Crypto.comexchange allows you to stake cryptocurrencies in two ways - CRO staking and soft staking.
To get started with ‘CRO staking’ you need to stake a minimum of 10,000 CRO tokens for a minimum of 6 months. The rewards for CRO staking are rebates, 10% APR, and syndicate access.
In the case of soft staking, there is no minimum amount to get started, but the staking period is 6 months same as CRO staking. Crypto.com supports more than 30 cryptocurrencies for soft staking, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Chainlink (LINK), etc.
Start Crypto Staking Today
Crypto staking is a great way to make money from your crypto holdings. However, you should thoroughly research and understand the terms and conditions before staking your funds on a platform.
Unlike trading, to earn money with staking, you do not have to put in the effort and time and no need to have more technical knowledge as well. So, start crypto-staking today and make more crypto from your present crypto holdings.
To find out which is the best crypto exchange for you, go to our comparison page and find out which platform best suits your needs.
Author
Pooja KadiaPooja is a content strategist, creator, entrepreneur, and public speaker for the crypto and blockchain industry. Having ventured into the blockchain space in 2016, she has worked with more than 150 crypto projects in a variety of different roles. Her area of expertise includes creating a content strategy and managing the creative writing process to assist blockchain projects during pre and post-launch. Apart from serving crypto projects with their narrations, she is a public speaker who has conducted several online seminars and held university lectures to educate on blockchain technology.
Everything you find on Sortter is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology
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I am an expert in the field of cryptocurrency, with a deep understanding of various aspects of the blockchain and crypto industry. My knowledge is backed by extensive research, staying updated with the latest developments, and hands-on experience in the crypto space. Now, let's delve into the concepts used in the provided article on crypto staking.
Crypto Staking Overview
Definition: Crypto staking involves locking up a certain amount of cryptocurrency to support the operations of a blockchain network. In return, participants receive rewards for their contribution.
Purpose: Staking serves to validate transactions and secure the network. It's an alternative to traditional mining, contributing to the decentralization and efficiency of blockchain systems.
Reward Mechanism: Participants earn rewards for staking their crypto. The rewards vary based on factors like staking period, the amount of crypto staked, and the platform's policies.
Popular Crypto Staking Platforms
-
eToro:
- Supported Cryptocurrencies: Cardano (ADA), Tron (TRX), Ethereum (ETH - post ETH 2.0 launch).
- Minimum Staking Period: 7-9 days.
- Staking Rewards: Influenced by eToro membership level, staking period, and staked amount. Fees apply, with a minimum staking reward of 1 USD.
-
Kraken:
- Supported Cryptocurrencies: Over 10, including Cardano (ADA), Algorand (ALGO), Cosmos (ATOM), Solana (SOL), Polkadot (DOT), Tezos (XTZ).
- Minimum Amount (Off-chain): 0.01 USD, 0.01 EUR.
- Staking Period: No minimum.
- Rewards: Varied (0.25-23%) based on staking type and crypto asset.
-
Binance:
- Supported Cryptocurrencies: Over 100, including Terra (LUNA), Aave (AAVE), Binance Coin (BNB), Chainlink (LINK), Polkadot (DOT), Cardano (ADA).
- Minimum Locking Period: 30, 60, 90 days.
- Rewards: 1-75%, no staking fees.
-
Gemini:
- Supported Cryptocurrencies: Over 40.
- Interest Rate: Up to 7.4% APY.
- Minimum Amount/Period: None specified.
- Payment Frequency: Daily, no hidden fees.
-
Uphold:
- Supported Cryptocurrencies: Polkadot (DOT), Ethereum (ETH), with APY of 10.5% and 4.25%, respectively.
- Minimum Amount: $25.
- Fees: 2% for staking Ethereum, rewards paid weekly.
-
Cex.IO:
- Supported Cryptocurrencies: Zilliqa (ZIL), Solana (SOL), Everscale (EVER), Songbird (SGB), Cosmos (ATOM), and more.
- Staking Yield: 2.6-14% annually.
- Minimum Amount/Period: Variable, rewards monthly.
-
Crypto.com:
- Staking Options: CRO staking (10,000 CRO tokens for 6 months) and soft staking.
- Supported Cryptocurrencies: Over 30, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Chainlink (LINK).
- Staking Period: 6 months.
- Rewards: Rebates, 10% APR, syndicate access for CRO staking.
Conclusion
Crypto staking provides a passive income opportunity for crypto holders, with various platforms offering different staking options. Users should carefully research each platform's terms and conditions before engaging in staking activities. The presented platforms cater to a range of preferences, from minimum amounts and periods to different supported cryptocurrencies and reward structures.
