5 Crypto Coins Worth Staking in 2021
New to crypto staking? Here is what you need to know about the practice and which coins you should stake this year.
Most crypto investors now resort to staking their assets to earn interest. So it's essential - as with everything in the cryptocurrency sphere - to stay up-to-date with the latest developments and trends to not lose sight of lucrative opportunities.
What is Crypto Staking?
Crypto staking has become a staple, and numerous crypto holders use the technology to earn interest on their coins. This process involves holding cryptocurrency in a wallet compatible with the Proof-of-Stake (POS) consensus for a certain period. Most of the time, you need to keep the coins for 30 days, but there are also other period options. After the 30-day period completes, you receive the same asset as a reward. Of course, the compensation depends on the number of coins you staked.
What are the Best Coins to Stake in 2021?
Numerous crypto coins do well when staked, but these top five assets are worth staking this year.
Tezos is a decentralized blockchain with on-chain governance, and after some big exchanges like Binance released their staking features in 2019, Tezos was the first coin to be supported by most of them. The best platform to stake Tezon on is Binance, but you can also try other exchange platforms, especially if you have a favorite.
Also known as the Chinese Ethereum, NEO is the first open-source blockchain project launched in China. The blockchain includes two crypto assets: NEO and GAS - this means that when you stake NEO, you get rewarded with GAS. Besides Atomic, you can use several other wallets to stake NEO, including Coinomi, Exodus, and Trust Wallet.
Decred is the first hybrid POW/POS (Proof-of-Work/Proof-of-Stake) cryptocurrency launched on the market. The asset aims to use the benefits of both consensuses to balance their respective flaws. An excellent staking platform for Decred is Binance.
Qtum is an open-source, POS-based blockchain. The coin is a hybrid asset as it combines the functionality of the Ethereum smart contract technology with Bitcoin's security features. You can only stake the currency using the Qtum Core Wallet.
Forked from the Dash blockchain, PIVX (Private Instant Verification Transaction) is a privacy-based POS crypto coin, and it mainly focuses on privacy and security when transacting. You can get and stake PIVX on Binance and Kucoin.
In a Nutshell
Cryptocurrency staking is now popular among crypto investors after several exchange platforms started providing this service for no fees. If you're interested in staking and consider entering this field, the projects mentioned in this article are a great place to start.