The Best Crypto Staking Pools: Which One to Choose

Now that you have dived into the world of blockchain and its virtual asset and got some experience, we recommend it’s time you do some staking! In a nutshell, participants with the largest number of tokens have a higher chance of being selected to validate transactions in a Proof of Stake (PoS) network. Stake pools are a medium that help crypto holders with smaller stakes participate in staking that will increase the likelihood of getting rewards.

Today, we have summarized the best crypto staking pools available in the market for your ease. Let’s take a look at our top five recommendations:

Everstake

Supported cryptocurrencies: 37 different coins and tokens.

APY: Depends on the cryptocurrency.

Lock-up period: Depends on the cryptocurrency.

Payout frequency: Depends on the cryptocurrency.

Type: Non-custodial.

Additional rewards: No.

Minimum/maximum staking amount: Depends on the cryptocurrency.

Everstake is a responsible validator that claims to be trusted by 625k+ users across 70+ blockchain networks. The platform, currently running over 8,000 nodes, creates liquid staking products. As a non-custodial solution, users can stake directly from their respective crypto wallets. Whether you are an institutional investor or an individual token holder, you can get 5% – 20% profit annually by staking with Everstake, with transparency of rewards.

P2P

  • Supported cryptocurrencies: 26 different cryptocurrencies.
  • APY: between 4% and 50%.
  • Lock-up period: Depends on the cryptocurrency.
  • Payout frequency: Depends on the cryptocurrency.
  • Type: non-custodial.
  • Additional rewards: No.
  • Minimum/maximum staking amount: Depends on the cryptocurrency.

P2P provides secure non-custodial staking services for professional investors, allowing token holders to participate in staking without the heavy lifting of running a node. The platform has grown to manage +$1.5 billion in staked assets across more than 25,000 investors and 25+ unique blockchain networks. Stake ETH, DOT, SOL, ATOM, XTZ, ADA and all key tokens with P2P. With an average uptime of 99%, P2P ensures that your rewards are generated continuously whilst mitigating performance-related risks.

LYOTRADE

  • Supported cryptocurrencies: LYO Credit (LYO) and USDT.
  • APY: 24% to 50%
  • Lock-up period: Depends on the cryptocurrency, but ranges from 360 days to 720 days.
  • Payout frequency: Depends on the lock-up period.
  • Type: Centralized, with DEX Swap feature.
  • Additional rewards: The LYO Credit token earns rewards through inflation, or community rewards, versus staking. With inflation, new tokens are added to the network at a rate determined by the protocol, and those tokens are then distributed to holders as rewards.
  • Minimum/maximum staking amount: Depends on the cryptocurrency.

LYOTRADE is a centralized cryptocurrency exchange that offers a high liquidity system connected to 300 exchanges, and about 30 risk control mechanisms along with offering DEX Swap service. LYO Credit (LYO) staking up to 50% yearly, and Tether (USDT) up to 24% yearly. When you stake LYO Credit on LYOTRADE, you can get an annual interest rate that starts from 1.5% to 36%, making it one of the preferable choices of tokens to select from for your skating experience. 

Kraken

  • Supported cryptocurrencies: 16 different cryptocurrencies, including USDT and all major coins.
  • APY: Depending on the cryptocurrency between 2% for stablecoins and 23% for altcoins.
  • Lock-up period: Depends on the cryptocurrency.
  • Payout frequency: Twice a week.
  • Type: Custodial.
  • Additional rewards: No.
  • Minimum/maximum staking amount: Depends on the cryptocurrency.

Kraken is a United States–based cryptocurrency exchange, with over 30 different cryptocurrencies and seven different fiat currencies available for trading. At Kraken, you can earn up to 24% yearly on your crypto. With a wide range of supported assets, you can receive staking rewards up to twice a week, even on Bitcoin. Kraken is a custodial staking solution, which means that the exchange will be in control of your private key while it is staking your coins.

Binance

  • Supported cryptocurrencies: Over 120 different cryptocurrencies.
  • APY: Depending on the cryptocurrency.
  • Lock-up period: Between 15 and 120 days.
  • Payout frequency: Daily.
  • Type: Custodial.
  • Additional rewards: No.
  • Minimum/maximum staking amount: Depends on the cryptocurrency.

Binance is the world’s biggest cryptocurrency exchange and the biggest provider of custodial staking solutions. Binance DeFi Staking acts on behalf of users to participate in certain DeFi products, obtains and distributes realized earnings, and helps users to participate in DeFi products with a single click. The platform allows users to obtain generous online rewards without keeping an on-chain wallet. Binance Staking deposits users’ funds into smart contracts on users’ behalf, saving users on-chain gas fees.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: https://cryptodaily.co.uk/2023/03/the-best-crypto-staking-pools-which-one-to-choose