Staking is an often-heard phrase in the crypto world. Staking is a process applicable to mining coins based on the POS (Proof of Stake) blockchain network. It is attractive to investors because it helps POS networks operate more efficiently and securely. In this context, you will learn about staking coins that help you engage in staking. It is necessary to keep cryptocurrency coins in your digital wallet for a much longer time to earn crypto staking rewards when you engage in staking. You can compare staked coins to bank accounts that accrue interest as for both options, you make interest on the capital, which is the initial investment. All cons are not suitable for staking, and to know about the best staking coins, keep reading this article.
How to start earning by staking coins?
The coins used for staking must remain in your digital wallet for an extended time so that these can support the process of validating transactions that use the POS blockchain network. By participating in the blockchain network, crypto owners qualify for earning rewards in different cryptocurrencies.
Crypto staking is beneficial because it does not require any equipment you would need for mining. Secondly, it is eco-friendly compared to the Proof of Work (POW) blockchain network. Thirdly, staking enhances the security and efficiency of POS blockchains, and the most attractive benefit is passive income.
Another exciting aspect of staking is that by using the best crypto staking platform, you get a return on both POS and POW coins.
Which coins are suitable for staking?
Here is the staking coin list that you can refer to choose the coin that can help generate passive income.
Tether (USDT)
When you stake coins, there are chances of coins and tokens depreciating, and to avoid the problem, try staking some stable coins. Although stable coins are best for you depending on your personal preference, you can try out Tether because of its massive trading volume, making it a good choice when drawing a staking coin list. You enjoy high liquidity with Tether, as you can easily swap it out for more attractive tokens.
Ethereum 2.0 (ETH)
Ethereum is the second most popular cryptocurrency behind Bitcoin, the quintessential cryptocurrency. Staking with Ethereum is highly reassuring as it is one of the best staking coins. Ethereum used the POW blockchain network earlier but now uses the POS blockchain, and you must have at least 32 RTH in your wallet to start staking. Currently, crypto users have staked more than $12 billion ETH. Remember that the platform of Ethereum 2.0 is still in the testing phase, and the coins you stake will remain in the network until the official launch of the platform.
EBITDA (Bit)
BIT is another big exchange token that can achieve its vision of a decentralized token-driven economy. BIT is a big name among staking coins, and you can start staking by signing up on a crypto exchange.
BIT provides an average annual return of 14.77% and has a prize pool of 1,500,000 tokens.
