With a prolonged bear market, cryptocurrency bulls may face difficulties in generating sustainable profits. But have you ever thought about staking? Staking is when you lock up your digital assets on exchanges to earn interest or reward. Even when the price is low, you can make money through staking. More so, at the low valuations of most tokens, you can get more at a lower price. Here are cryptocurrencies trading at or below $1 you can stake.
Cardano
Cardano (ADA/USD) is one of the best tokens to stake under $1. The cryptocurrency trades at $0.3 after a prolonged crypto winter. However, with the recent Vasil upgrade, Cardano is a top contender as one of the best blockchains around. As more entities join the network, Cardano will continue to grow, and the staking feature will become more popular.
You can effectively stake on Cardano through a staking pool. Staking on centralised exchanges like Binance allows users to lock their digital assets at different time frames. Users can also run their staking pool.
Where to buy ADA
Plus500
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
Kraken
Kraken is a San Francisco-based cryptocurrency exchange that allows users to trade various digital currencies. With a strong emphasis on security, Kraken employs cold storage for most funds and offers two-factor authentication (2FA). Its user-friendly interface provides real-time charts and order books, making it suitable for both beginners and experienced traders. Kraken also complies with regulatory requirements in the jurisdictions where it operates.
Tezos
Trading at just $1, staking on Tezos (XTZ/USD) can generate passive income in a bear market. Tezos is an open-source smart contract protocol. Users can generate new digital assets and dApps on Tezos.
Staking on Tezos gives the user an annual yield of around 3%, less the validators’ fees. The rate changes depending on varying criteria. After you delegate the tokens to a staking pool, it will take about five weeks to receive the first reward. After that, the rewards are received around every 3 days.
Where to buy XTZ
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Kraken
Kraken is a San Francisco-based cryptocurrency exchange that allows users to trade various digital currencies. With a strong emphasis on security, Kraken employs cold storage for most funds and offers two-factor authentication (2FA). Its user-friendly interface provides real-time charts and order books, making it suitable for both beginners and experienced traders. Kraken also complies with regulatory requirements in the jurisdictions where it operates.
Algorand
Algorand is regarded as a Pure Proof of Stake (PPoS) protocol. It uses the Byzantine consensus and adopts a more egalitarian approach compared to the PoS systems. The protocol does not fork, yet it is known for immediate transactions.
Algorand’s native token ALGO price is just $0.24, and staking it presents limited restrictions. From as low as one ALGO, you can get started on Algorand. The staking rewards depend on how long you delegate your assets.
Where to buy ALGO
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Uphold
Uphold is a global digital money platform that offers financial services. It deals with 250+ currencies (both traditional and crypto) and commodities, facilitating more than US$4 billion in transactions. Uphold’s vision is to create a future where everyone has access to safe, transparent, fair, and affordable financial services
Summary
In a nutshell, there are numerous cryptocurrencies you can stake at or below $1. The list above is not exhaustive but offers some of the most sound tokens you can start for your staking journey.