These are the best cryptocurrencies for staking

These are the best cryptocurrencies for staking

By Motiur Rahman - min read

Staking offers crypto investors a chance to make decent passive income while taking considerably less risk compared to trading crypto directly. In essence, staking involves placing crypto assets in locked digital wallets for the purpose of validating transactions in Proof-of-Stake blockchains. It’s the inverse of crypto mining, and here is why you should look at it seriously.

  • You don’t need to invest in expensive computer equipment to do staking. Just a few crypto assets are needed.

  • Staking offers interest on all assets staked that can go as high as 20% per year in several blockchains.

  • Also, once the assets are staked, you simply earn some passive income on the side.

Well, if you are thinking of adding crypto staking as part of your overall investment strategy, then there are some coins you must consider. Here they are:

BitDao (BIT)

BitDao (BIT) is one of the leading decentralised autonomous organisations (DAOs) in the world. The platform is designed to attract talented developers to create and deploy innovative DAOs across various chains. BIT is the native governance token on the platform that can also be staked for excellent returns. 

Data Source: 

In fact, staking BIT delivers an annual average return of around 14.77%. Besides, the token is a very promising coin backed by superb underlying fundamentals. At the time of writing. BIT was trading for $2.17 with a market cap of around $1.2 billion.

Terra (LUNA)

Terra (LUNA) is a stablecoins network designed to deliver what it calls a price-stable global payment system. Terra is one of the biggest blockchain projects right now. 

Its native governance token LUNA, which is also used for staking, has a market cap of $33 billion. This ranks it among the top 10 crypto assets by market cap. Also, staking LUNA will deliver average annual returns of around 12.5% for investors.