Other than trading, there are numerous ways to make money in the crypto world. Staking is one of them. Staking is analogous to bank deposits in that you deposit a certain amount of money in the bank within a certain time frame and earn interest.
Staking in cryptocurrency refers to an investor putting a certain amount of crypto into a protocol that serves staking in exchange for a return. In theory, there is a time period for deposits during which your money cannot be withdrawn.
However, some staking protocols in crypto have a flexible staking feature, which means that crypto can be withdrawn at any time without penalty fees.
Here are the best crypto staking platform based on the level of return and security as well as the diversity of crypto that can be staked.
Binance
Binance provides stablecoin staking at a high interest rate. Binance charges 0.28-8% per year for staking BUSD and USDT, depending on the number of stablecoins staking.
| Amount BUSD/USDT | Interest per year |
| 0 – 1000 | 8% |
| 1000 – 10000 | 0,8% > |
| 10000 | 0,28% |
In addition to stablecoins, Binance also offers staking of a variety of selected coins/tokens through the DeFi protocol intermediary. There are 284 coins or tokens that you can stake on Binance with varying returns. The minimum capital for staking on Binance varies according to the coin/token to be staked.
In terms of security, Binance is one of the exchanges that is very responsible for handling cases that are not user error, such as hacks.
Binance has a SAFU mechanism with insurance funds taken from trading fees to back up unexpected events. In addition, Binance earned an AAA rating from the cybersecurity agency ranking cer.live.
Coinbase
Coinbase, one of the oldest cryptocurrency exchanges, has finally added a staking feature with annual yields of up to 5.75%. USDC, USDT, and DAI stablecoins, as well as six other coins, can be staked. Staking capital on Coinbase can be withdrawn at any time, and the minimum capital for staking is $1.
In terms of security, Coinbase has also been tested for cybersecurity and received an AAA rating by cer.live.
Crypto.com
The interest on staking on Crypto.com can be said to be very competitive because the interest on staking stablecoins such as USDC, USDT, and DAI is 6.5% per year. In addition, there are more than 40 coins/tokens that can be staked at an interest rate of 3–12.5% per year.
You can also stake Chronos (CRO), which is a utility coin from Crypto.com, to get additional bonus interest.
In terms of security, Crypto.com is ranked 1 based on the ranking from cer.live.
FTX
FTX is a wallet that is also a staking platform. The unique thing about FTX is that users don't need to take any steps to stake.
Users simply make a deposit to the FTX wallet and the crypto deposited will be automatically staked. Staking interest at FTX is 8% per annum on all assets for the first $10K deposit. 5% interest per annum on deposits after the first $10 thousand.
The crypto that can be staked on FTX is quite varied, but there are more tokens from the Solana ecosystem.
Previously, this platform was called Blockfolio, which functioned as a portfolio tracking application. This platform was acquired by FTX, which subsequently rebranded Blockfolio to FTX while FTX became FTX Pro.
For security concerns, FTX and FTX Pro are backed up in terms of funds by Sam Bankman Fried and Alameda Research.
Nexo
Nexo is a crypto deposit platform that offers 31 selected crypto deposits with varying interest rates of up to 16% per annum. The choice of stablecoins on Nexo is more than any other platform, namely: USDT, USDC, BUSD, USDP, TUSD, and DAI, and with competitive interest rates of up to 8% per annum.
Interest is given per day and you can also choose flexible staking or locked staking with additional bonus interest.
Nexo guarantees user funds are safe and insured with a custodial fund of $775 million in the event of an unexpected event such as a hack.
Conclusion
Trading is not for everyone who wants to deal with the market. There is a staking method in crypto with the potential for profit in the form of interest, which is suitable for some people who want to continue earning but not through trading.
When selecting a staking location, you should consider your needs, such as the coins you want to stake and whether the staking type is flexible or fixed. Furthermore, the potential interest that will be obtained as well as the security of the staked place must be considered.
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