Alex Manea
Crypto staking is one of the best ways to make money without investing much time and effort compared to trading digital currencies. To begin staking cryptocurrencies and earn money, you first need to know various things like the minimum amount to start staking, locking period, etc. This article helps you get started with crypto staking by analyzing how staking works on multiple popular platforms.
Crypto staking is a way to make money or earn rewards by locking your crypto holdings for a certain period. In some cases, crypto networks use locked-up holdings to validate the transactions on the blockchain. In exchange, the network rewards the holder for staking their crypto. On the other hand, various exchanges support “soft staking” and pay interest for staking crypto on their platforms.
Let us go through some popular crypto staking platforms and look at the minimum amount of funds you need to get started with crypto staking.
Kraken is one of the most popular crypto trading platforms that allow on-chain and off-chain staking crypto and fiat money.
For on-chain staking, Kraken supports more than 10 cryptocurrencies including Cardano (ADA), Algorand (ALGO), Cosmos (ATOM), Solana (SOL), Polkadot (DOT), Tezos (XTZ), etc. For off-chain staking, Kraken supports Bitcoin (BTC), Euro (EUR), US Dollar (USD).
There is no minimum staking period on Kraken. However, the minimum amount for starting with off-chain staking is 0.00000001BTC, 0.01 USD, 0.01EUR. For on-chain staking on Kraken, there is no minimum amount.
Kraken does not charge any fees for both on-chain and off-chain stakings. You will get anywhere between 0.25 - 23% rewards per annum based on the type of staking and crypto asset you staked.
Binance is one of the leading crypto trading platforms that offer two types of staking services - Locked staking and DeFi staking.
The platform supports more than 100 cryptocurrencies, including Terra (LUNA), Aave (AAVE), Binance Coin (BNB), Chainlink (LINK), Polkadot (DOT, Cardano (ADA), Algoeand (ALGO), etc. The minimum amount and rewards vary as per the asset you staked. You can choose the minimum locking period between 30, 60, 90 days.
Binance does not charge any staking fee, and you can get from 1% to 75% rewards based on the crypto asset you staked.
Gemini crypto trading platform allows you to earn interest on your crypto holdings through its feature called “Gemini Earn”.
The platform supports more than 40 cryptocurrencies and allows you to earn up to 7.4% APY on your crypto holdings. There is no minimum amount, no minimum time period to start earning with the Gemini Earn feature.
The interest is compounded daily, and the rewards are paid out daily. Gemini does not charge any hidden fees for transferring or redeeming from Gemini Earn.
Uphold is a unique platform that allows trading between cryptocurrencies, precious metals, US equities, and national currencies.
The supported cryptocurrencies for staking on Uphold are Polkadot (DOT), Ethereum (ETH), with an estimated APY of 10.5% and 4.25%, respectively. The platform plans to add more crypto assets to stake shortly.
The minimum amount required to start staking on Uphold is $25. The minimum period depends on the unbounding period for the staked crypto asset. Uphold charges 2% fees for staking Ethereum, and the rewards are paid out every Saturday.
Cex.IO crypto exchange allows staking, and you can earn from 2.6% to 14% annual yield based on the crypto asset you choose to stake.
Cex.IO supports Zilliqa (ZIL), Solana (SOL), Everscale (EVER), Songbird (SGB), Cosmos (ATOM), MetaHash (MHC), Tron (TRX), Cardano (ADA), Tezos (XTZ), Polkadot (DOT), and MATIC for staking.
The minimum amount required to start staking depends on the crypto asset you choose, and there is no minimum period to stake. The platform pays rewards monthly, and they differ based on the crypto asset you staked.
Crypto.com exchange allows you to stake cryptocurrencies in two ways - CRO staking and soft staking.
To get started with ‘CRO staking’ you need to stake a minimum of 10,000 CRO tokens for a minimum of 6 months. The rewards for CRO staking are rebates, 10% APR, and syndicate access.
In the case of soft staking, there is no minimum amount to get started, but the staking period is 6 months same as CRO staking. Crypto.com supports more than 30 cryptocurrencies for soft staking, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Chainlink (LINK), etc.
Crypto staking is a great way to make money from your crypto holdings. However, you should thoroughly research and understand the terms and conditions before staking your funds on a platform.
Unlike trading, to earn money with staking, you do not have to put in the effort and time and no need to have more technical knowledge as well. So, start crypto-staking today and make more crypto from your present crypto holdings.
To find out which is the best crypto exchange for you, go to our comparison page and find out which platform best suits your needs.
