Online trading platform reviews. The top 12 best cryptos to stake in 2023 for solid gains
Staking cryptocurrency can be a highly profitable long-term investment strategy. There are many different options available that help users to maximize their returns and earn passive income, including all proof-of-stake blockchains and a variety of decentralized applications (dApps).
Here are some of the best staking cryptos in 2023 to earn passive rewards:
- Metacade (MCADE)
- AltSignals (ASI)
- Ethereum (ETH)
- Cardano (ADA)
- Solana (SOL)
- Algorand (ALGO)
- Polkadot (DOT)
- Quint (QUINT)
- Avalanche (AVAX)
- Tezos (XTZ)
- Polygon (MATIC)
- Cosmos (ATOM)
1. Metacade (MCADE)
What is Metacade?
Metacade is a comprehensive GameFi platform that offers a vast selection of arcade-style games to its users. All games on the platform have integrated financial rewards, as Metacade is a never-ending play-to-earn experience that combines fun gameplay with financial rewards.
The metaverse arcade offers many different methods for earning a cryptocurrency income. Work2Earn connects users to job opportunities in the crypto space, Compete2Earn rewards gamers with crypto for participating in eGaming tournaments in the metaverse arcade, and Create2Earn rewards users for their community contributions.
Games in the metaverse arcade can be played both casually and competitively, allowing for endless opportunities to earn MCADE token staking rewards. Users can stake MCADE directly on the site, which generates an automatic return and helps to maximize reward potential.
Reasons to stake MCADE
MCADE is a promising new GameFi platform that recently launched a successful presale event. The presale is now at the final stage, giving early participants a unique opportunity to get involved in a high-potential crypto project during its initial phase of development.
Cryptocurrency staking earns passive yield in addition to an investment return, which could make staking MCADE one of the most lucrative opportunities in Web3 thanks to its vast potential for returns from the current price level.
The price of MCADE is $0.08 during the final stage of its presale. There are limited tokens available at this point before MCADE is released on digital asset exchanges, making the presale the perfect opportunity to buy with a view to making significant investment returns.
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2. AltSignals (ASI)
What is AltSignals?
AltSignals is a highly successful online trading platform that has supported 50,000 users since it first launched in 2017. The project’s proprietary indicator, AltAlgo™, has consistently produced trading signals with over 70% accuracy since it first launched, as AltSignals has helped traders of all experience levels to navigate the crypto markets.
The platform is now augmenting its trading toolkit with artificial intelligence for even greater accuracy. The new suite of tools, called ActualizeAI, will give crypto investors a unique edge while trading the market as it is able to forecast future price action by analyzing vast amounts of market data.
ASI token holders will gain access to ActualizeAI and can join AI Members Club, which provides entry to exclusive trading tournaments and early-stage investment opportunities. ASI can also be staked directly on the platform to earn a passive yield, helping to maximize a possible investment return over time.
Reasons to stake ASI
ASI is an exciting new crypto token that could revolutionize the way that people trade the crypto markets. The combination of artificial intelligence and blockchain has high potential for the future, which means that AltSignals is well positioned for future success.
The ASI token has deflationary tokenomics and vast utility on the platform. Staking the token helps to generate a passive income in addition to granting access to an AI-powered trading tool, which could produce a significant level of demand over time.
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3. Ethereum (ETH)
What is Ethereum?
Ethereum (ETH) is a decentralized, open-source blockchain designed to enable the creation of decentralized applications (dApps). Ethereum was the first Turing complete blockchain, as developers can program custom smart contracts to automatically execute transactions.
Ethereum uses Ethereum Virtual Machine (EVM) to build and deploy smart contracts, which use the Solidity programming language. This allows developers to create custom applications and digital assets, including both fungible and non-fungible tokens (NFTs).
At its core, Ethereum is a network of distributed computers. The network recently switched to a proof-of-stake consensus mechanism in which anyone can become a validator node by staking 32 ETH. This helps to support the network infrastructure, as it relies on independent suppliers of computation power to process transactions.
Users with less than 32 ETH can delegate their tokens to a selection of validators. This earns all stakers passive rewards from the network. The best staking rewards are generated during the validation process, where gas fees are awarded to the validator that proposes the next block of transactions.
Reasons to stake ETH
Ethereum is one of the best cryptos to stake in 2023 because the recent migration to proof-of-stake has made the network more efficient. Already the second largest cryptocurrency by market cap, Ethereum has now been future-proofed and can support massive amounts of traffic without compromising on performance or security.
Rewards earned by crypto staking vary between 7 percent and 14 percent. The staking process is simple – anyone can stake coins or ETH tokens by connecting a crypto wallet to popular pools such as Lido. All delegators earn staking rewards proportional to their share of the staking pools, and there is no minimum amount needed to delegate.
4. Cardano (ADA)
What is Cardano?
Cardano is a proof-of-stake blockchain that relies on its native token, ADA, to secure the network. It is an open-source project that anyone can join; however, there are significant barriers to entry for becoming a full validator. For a cheaper alternative, users can delegate any amount of ADA to become a delegator node and start earning ADA rewards.
Cardano is designed as a high-speed, low-cost alternative to other blockchains. It is one of the first networks to popularize proof-of-stake consensus mechanisms, as most earlier blockchains used variations of Bitcoin’s proof-of-work (PoW) protocol. A few examples include Dogecoin, Litecoin, and Ethereum before ‘The Merge’, which have reduced throughput compared to proof-of-stake alternatives.
The proof-of-stake consensus mechanism allows for improved scalability and faster block confirmations. Since it does not rely on expensive hardware or significant energy costs during the crypto mining process, PoS protocols are cheaper to run without compromising security. The protocol is kept secure through an in-built financial disincentive where malicious or faulty nodes lose their staked tokens.
The crypto staking process with Cardano is simple and allows anyone to generate passive income. All token holders are eligible for staking coins, which can be done by delegating ADA. Annual percentage yield for crypto staking ADA is approximately 4.5%, making it one of the best staking crypto projects in Web3.
Reasons to stake ADA
Cardano has ambitious plans to become a leader in the smart contract industry. It is launching a layer-2 scalability upgrade called Hydra which will increase the blockchain’s throughput to 1 million transactions per second (TPS). While actual throughput will be lower, the increased capacity of the blockchain will make it one of the best-performing networks in Web3.
Cardano is one of the original best crypto staking coins and its ability to support dApps makes it an attractive option for programmers and users alike. All staked assets earn interest thanks to the Cardano proof-of-stake protocol, which makes it a great option for earning passive income for crypto investors.
5. Solana (SOL)
What is Solana?
Solana (SOL) is a high-performance blockchain platform designed for scalability. The blockchain uses a unique consensus protocol that combines proof-of-stake with proof-of-history. This allows the blockchain to process a high number of transactions with sub-second block finality.
dApps on Solana are built using Rust, which allows for more complex applications when compared with Solidity. The network is, therefore, a highly secure infrastructure that can support custom applications on a similar scale to centralized networks. dApps are fast and cheap to use, as Solana’s core aim is to enable the distribution of DeFi applications and digital assets on a global scale.
Solana’s technology has been proven to handle up to 50K transactions per second on its mainnet, making it one of the fastest blockchains available today. Coin holders can start staking coins and validating transactions easily through wallets that are compatible with Solana such as Phantom. This particular crypto wallet is popular, but other wallets that support staking of SOL are Sollet and Solflare.
Reasons to stake SOL
Solana supports the creation of other digital assets thanks to its smart contract functionality. This has led to an ever-increasing number of tokens, dApps, and users for the blockchain that each benefit from instant transactions. All transaction fees on the crypto network are paid in SOL, which are then used for generating passive income for validators and delegators.
Solana is one of the best staking platforms right now because the network is expected to grow significantly over the coming years. This should produce more rewards for stakers as they validate transactions due to higher traffic on the platform. Solana is, without a doubt, one of the best cryptos to stake in 2023.
6. Algorand (ALGO)
What is Algorand?
Algorand is a decentralized public ledger that is powered by blockchain technology. It has been designed to bring digital asset ownership to the masses by solving the blockchain trilemma, which states that a distributed computer network typically has to sacrifice either security, scalability or decentralization in order to operate.
Algorand’s Pure Proof-of-Stake (PPoS) protocol enables the blockchain to achieve all three requirements in the blockchain trilemma without sacrificing performance. It is a highly scalable network that supports staking and boasts sub-zero emissions during the validation process.
Algorand native cryptocurrency is ALGO, which is used to pay transaction fees on the network. ALGO holders can use their crypto assets to participate in network decisions, as Algorand is governed by a Decentralized Autonomous Organization (DAO).
Reasons to stake ALGO
Anyone can earn staking rewards by delegating a minimum of 1 ALGO to block validators. Algorand has low barriers to entry, as 1 ALGO is currently worth just $0.21. As a permissionless blockchain, users can contribute to staking pools quickly, easily, and cheaply.
Contributing to staking pools is not the only benefit. ALGO is one of the best crypto staking coins available right now as it has vast upside potential. It is one of the most advanced blockchain protocols, as it is secure, scalable, decentralized, energy efficient, and can also support the development of decentralized apps.
7. Polkadot (DOT)
What is Polkadot?
Polkadot, or DOT, is a multi-chain platform, built to enable interoperability and scalability between other blockchains. It connects isolated blockchain networks together so that transactions can move freely and seamlessly across them, creating a larger “internet of blockchains”.
As a layer-0 blockchain protocol, Polkadot acts as a cross-chain solution that can be integrated with EVM-compatible layer-1s, such as Ethereum, Avalanche, Binance Smart Chain, and more. The protocol relies on staking, allowing DOT holders to earn passive income by securing the network.
Anyone can earn crypto staking rewards through Polkadot by providing a minimum of 1 DOT to nomination pools. Alternatively, its users need a minimum of 292.96 DOT to become a full nominator node. Staking tokens with Polkadot is a simple process that can help to maximize users’ crypto earnings over time.
Reasons to stake DOT
Polkadot is a top 20 cryptocurrency by market cap and one of the best staking cryptos. Not only does crypto lending with Polkadot help to secure the network and verify transactions, but DOT is also one of the coins with the highest crypto staking rewards.
Staking DOT can turn out to be a significant investment opportunity, as nominators and nominator pools can earn 14 percent yield on their initial investment every year. Earning rewards with Polkadot is thus a simple process, and investors can maximize their long-term returns by locking tokens in escrow over a certain period of time.
8. Quint (QUINT)
What is Quint?
Quint is a decentralized application that aims to bridge the gap between blockchain and the real-world. The founders are serial entrepreneurs who have created a central platform where users can stake QUINT tokens to earn passive rewards, including NFTs and real-world experiences.
Users can join Luxury Raffle Pools to earn a wide variety of prizes including Bored Ape Yacht Club NFTs and diamond watches. The project takes the concept of passive earning to the next level, allowing all QUINT stakers unprecedented rewards as they secure the platform with staked coins.
APY on Quint can also be auto-compounded, which helps users to maximize their token returns. This process works by withdrawing token rewards and re-staking them on the platform, helping to generate a higher percentage yield over time.
Reasons to stake QUINT
QUINT is a popular cryptocurrency staking platform that offers a unique set of rewards to its users. The project launched in 2022 and remains a promising option for anyone seeking the best cryptos to stake for DeFi token rewards.
9. Avalanche (AVAX)
What is Avalanche (AVAX)
Avalanche is an advanced blockchain network that can process financial transactions at high speed. The novel protocol deployed by Avalanche is one of the most secure cryptographic solutions in Web3, while also offering dApp compatibility and cheap network fees.
Avalanche supports EVM, which means that any dApp created in the Ethereum ecosystem can be deployed on Avalanche with minimal changes to the source code. Avalanche is an innovative technology and one of the most widely-used blockchains in the world today.
Users can stake crypto on Avalanche for the transaction validation process. This can help users to maximize a return on their crypto portfolio, as the network’s native token, AVAX, delivers sizable returns for crypto staking.
To become a validator node on Avalanche, users need to stake 2000 AVAX tokens, which is approximately $33,000 in fiat money or USD coins such as Tether. For users who lack the required funds, Avalanche supports delegated crypto staking with a minimum of 25 AVAX.
Avalanche is also home to a full suite of DeFi applications thanks to its ability to support smart contracts. Platforms such as Trader Joe and Yield Yak are popular methods of staking other digital assets from the Avalanche ecosystem, allowing users to farm yield and maximize their returns passively.
Reasons to stake AVAX
Avalanche is a leading blockchain protocol that could generate significant long-term investment returns. By combining investment returns in fiat value with a passive return in AVAX, users can generate income from the same amount of crypto holdings.
By allowing crypto users to stake crypto in a wide variety of ways, Avalanche is certainly one of the most comprehensive platforms to stake cryptocurrency. AVAX can be purchased on the best crypto exchanges, and users can swap the token into a wide variety of other staking assets using decentralized crypto exchanges such as Pangolin.
10. Tezos (XTZ)
What is Tezos?
Tezos (XTZ) is a decentralized blockchain network designed to support smart contracts and dApps. It stands out from other blockchains due to its “self-amendment” trait, which allows it to adapt to changes in the protocol without having to “fork” like most other blockchains. Some notable blockchain forks include Bitcoin Cash, Ethereum Classic, and Ethereum PoW.
Staking coins on Tezos helps to verify transactions due to its proof-of-stake protocol. The native token, XTZ, is used for a variety of activities on the blockchain and all transaction costs are paid towards users for their crypto staking work.
XTZ tokens can also be used for voting on Tezos protocol upgrades and paying fees for dApp integrations. Tezos is an innovative blockchain protocol that is well-known in the crypto space, as it offers many of the same functions as alternative networks while delivering fast and cheap transactions.
Staking coins on Tezos is known as ‘Baking’. Users can ‘Self-Bake’ or delegate. Self-baking requires 8000 XTZ tokens at the current price of $1.10, making it cheaper than comparable networks such as Ethereum and Avalanche. Users can also delegate XTZ to bakers with any amount, making it an accessible method to earn passive income.
Reasons to stake XTZ
XTZ is a top 100 cryptocurrency by market capitalization and it is likely to grow in value over the coming years. It offers a simple-to-use delegation process to minimize barriers to entry and maximize network decentralization, which makes it one of the best cryptos to stake in 2023.
11. Polygon (MATIC)
What is Polygon?
Polygon (MATIC) is a Layer 2 network that makes it easy to build scalable decentralized applications (dApps) for the Ethereum ecosystem. The project provides infrastructure for building high-performance applications that boast an impressive degree of scalability, while also benefiting from the same security level as Ethereum’s layer-1.
The network is currently the largest layer-2 scaling solution for Ethereum and it has inspired several newer layer-2s such as Arbitrum and Optimism. Staking coins on Polygon is extremely simple, as users can visit the primary Polygon website and start earning passive rewards automatically by connecting their crypto wallet.
Users can contribute to validator pools with as little as 1 MATIC, which currently costs around $1.20. Staking coins provides automatic access to MATIC token rewards which are paid out when new blocks of transactions are confirmed. By making the crypto staking process cheap, MATIC ensures total decentralization and minimal entry barriers for token holders.
Reasons to stake MATIC
Polygon is a leading blockchain solution that can help bring greater scalability to Ethereum – the largest ecosystem of dApps in Web3. The Polygon SDK enables developers to port over existing EVM-compatible dApps quickly and efficiently, making it an extremely useful technology that can support multiple blockchains.
Staking MATIC is cheap and simple, and can generate in excess of 10 percent annual yield. This makes it one of the top staking coins in Web3 for a passive income, as users can start earning with as little as 1 MATIC coin staked.
12. Cosmos (ATOM)
What is Cosmos?
Cosmos (ATOM) has been designed to bridge the gap between different blockchains, making it easier and more efficient for developers to build projects on the network. Cosmos can be used by over 100 independent blockchains, making it one of the most valuable technical solutions for blockchain interoperability.
Cosmos also provides tools to help developers build multichain applications, as the protocol allows different networks to seamlessly communicate with one another. Tokens can be sent across the different chains that are supported by Cosmos, as long as the network has been linked to the dApp being used.
ATOM acts as an incentive for maintaining performance and reliability in Cosmos’ network, as users can earn passive rewards by staking their tokens to the chain. ATOM can be staked through both hot wallets such as Metamask and cold wallets such as Ledger to earn up to 10 percent annual percentage yield (APY).
Reasons to stake ATOM
ATOM is one of the best staking coins in Web3 thanks to its high APY. The blockchain is also an integral solution for blockchain interoperability, which is thought to be a key barrier to global adoption. Since Cosmos is able to send tokens across disparate networks without compromising on security, the ATOM token could turn out to be a highly lucrative investment.
By staking ATOM, users can maximize their long-term return on investment. This makes it one of the best staking rewards cryptocurrencies around, as a 10 percent passive return may help to multiply profit if the token’s fiat value appreciates over time.
What are the benefits of staking crypto assets?
One of the primary benefits for staking crypto assets include automatic financial rewards. These staking rewards can be earned in addition to an investment return, which makes it a highly profitable choice for long-term crypto investors.
Stakers often gain voting rights for projects that are governed by a DAO. Staking coins represents a ‘skin-in-the-game’ situation, where token holders’ finances are directly used to support the platform they have invested in. This makes the process of staking crypto a pivotal aspect of achieving decentralization.
What are the risks of staking crypto?
One of the main risks with staking tokens to a proof-of-stake blockchain is the slashing process. Proof-of-stake protocols are kept secure through their innate disincentive for malpractice, so any malicious or faulty node can permanently lose access to their stake.
For staking tokens on custom-made applications, the main risks are solvency and security. If a platform is hacked, staked tokens can be lost. If the project becomes insolvent, or the token loses the majority of its value, then users’ staked tokens may lose the majority of their value.
Where can I stake crypto?
There are a variety of staking methods supported by different kinds of blockchain platforms. Some examples include:
- Centralized exchanges such as Binance or Crypto.com
- Setting up a validator node with specialized equipment
- Joining decentralized staking pools such as Lido for Ethereum
What is the Best Crypto to Invest in Right Now?
One of the best staking tokens to buy right now is Metacade. The project has just started to gain momentum ahead of its public token launch, which is expected to produce significant price action for the new MCADE token.
Metacade differs from other GameFi platforms, as it offers a vast selection of different experiences in a single location. It also offers vast crypto earning opportunities, passive income for stakers, and voting rights for MCADE token holders.
Related Crypto FAQs
Which crypto is best for staking?
There are many different forms of crypto staking, including validation, delegation and yield farming. Tokens can also be staked directly on platforms such as AltSignals, Metacade, which are both great methods for generating a passive return.
Can you lose crypto by staking coins?
Yes, there are some risks involved with the staking process. Most users have limited risk involved with validation and delegation, as long as the validator node remains stable and the supplier remains honest.
There are more risks involved with custodial staking, as the process relies on a centralized third party instead of smart contracts. Some high-profile failures include FTX, Celsius Network and BlockFi in recent months, as the management’s insolvency caused users to lose access to their funds.
Is staking crypto profitable?
Staking crypto can be highly profitable, as it combines an investment return with passive yield. This can multiply a long-term return on investment.
Can you stake any crypto?
Many Crypto coins that ascribe to the ERC-20 token standard can be staked, while older cryptocurrencies such as Litecoin, Bitcoin and Dogecoin cannot be staked in their standard format.
You can buy the coins mentioned in this article at eToro here.
You can participate in the Metacade final stage presale here.
You can participate in the ASI token presale here.
Here are reviews of some popular online trading platforms:
Robinhood: Robinhood is a well-known commission-free trading platform popular among beginner investors. It offers a user-friendly mobile app and web platform, making it easy to buy and sell stocks, ETFs, options, and cryptocurrencies. However, Robinhood has faced criticism for limited customer support and occasional outages during high market volatility.
TD Ameritrade: TD Ameritrade is a widely used platform known for its powerful and feature-rich thinkorswim platform. It offers a wide range of investment products, including stocks, options, ETFs, mutual funds, and futures. TD Ameritrade provides educational resources and has strong customer support. In 2020, TD Ameritrade was acquired by Charles Schwab, and the two platforms are in the process of merging.
ETRADE: ETRADE is a well-established platform offering a variety of investment products. It provides a user-friendly interface and a range of research and educational tools. ETRADE offers commission-free trading for stocks, ETFs, and options. In 2020, ETRADE was also acquired by Morgan Stanley, and integration with Morgan Stanley's services is underway.
Fidelity: Fidelity is a reputable brokerage platform with a long-standing history. It offers a wide range of investment options, including stocks, options, ETFs, mutual funds, and fixed income products. Fidelity provides extensive research and educational resources, along with excellent customer service. They have also introduced commission-free trading for stocks, ETFs, and options.
Interactive Brokers: Interactive Brokers is a popular platform among active traders and professionals. It offers a comprehensive suite of tools and advanced trading features. Interactive Brokers provides access to a wide range of investment products and global markets, along with competitive pricing. It's known for its robust trading platform and in-depth research tools.