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Top 7 Staking Coins for the Rest of 2021

What is staking ?

Today, we’re going to talk about staking. To be fair, that term can mean many things in cryptocurrency.
So let’s be clear, we’re talking about staking coins to secure proof of stake blockchain networks that will in turn earn users passive rewards for doing so. More specifically, we’ll be talking a little bit about what staking really is.
And we’ll be looking at seven popular assets that you can begin staking today.
So what are we waiting for?

explore the world of staking crypto in 2021

Okay, so as we just mentioned, this term can mean a few different things. very broadly. staking in cryptocurrency usually refers to allocating tokens into a specific smart contract.
In order to perform a variety of tasks, including securing a network, delegating voting rights or providing liquidity, we’re going to be focusing specifically on the assets that can be staked to secure their networks.
However.

So why would someone want to stake?
Well, for one, as we just mentioned, it secures the underlying network.

proof of stake as opposed to proof of work


but in a nutshell, proof of stake uses stake assets instead of miners to validate blocks.
Generally the way these systems work is that a user with sufficient assets can stake them to become a validator.users with less sufficient assets can usually delegate their coins to known and trusted validators.

The benefits of this system are many and include the fact that it provides arguably even better security than proof of work.
For example, to attack the network, the assailant will need to control 51% of all assets on the network instead of 51% of hashing power, which is of course incredibly unprofitable for the attacker.
Another upside is that this system is far more scalable and uses a lot less energy, which is especially important in light of how bitcoins carbon footprint has become a pretty notable point of contention.


Okay, so it helps the network.
What’s the benefit for stakers?

The answer, as mentioned, is passive rewards. staking on virtually every network is incentivized with the ability to earn crypto back just for allocating your assets. This is a no brainer if your coins are otherwise just going to sit in a wallet.
Though of course, it makes less sense for traders.
Generally speaking, staking is done either through an official wallet or application or depending on the asset.

It’s often supported through third party applications like atomic wallet or Exodus major exchanges to usually offer staking options for the most popular assets.
So users should have a variety of choices for how they want to get involved. Okay, that’s the basic idea.

Now let’s take a look at seven cryptocurrencies that are highly popular for staking and talk a little about where you can actually get started with each one,
we have to top off this list with one of the more obvious entrance and that’s a ethereum

all we really need to say is that in preparation for the upcoming shift to proof of stake, users can become early validators by staking 32 ethereum on ethereum 2.0. Note, of course, this is a bit pricey for many, but you can also delegate your coins to a validator basically any amount you want, and begin earning today.

In fact, pretty soon you’ll even be able to stake your theorem on Coinbase for a 5% yearly return, which may be a bit lower than some pools but could make the process notably simpler for many users.

Be aware that at this time, any eat steak for 2.0 will be locked in until the network has done upgrading which could take as much as a year or even longer. So if you have a theory that you know you won’t be needing for a while, this could be a great choice, but otherwise, it might be better to look to a different coin. Next up is another coin you’re probably at least a bit familiar with

Cardano

aka ADA, though often directly compared to ethereum cardano has been built from the ground up as a proof of stake network. One thing that’s nice about cardano is that there’s so many simple options for staking it.

For example, Ada can be staked on binance. With just a few clicks. It can also be staked from a ledger hardware wallet.

There’s also the popular multi asset wallet we mentioned atomic and Exodus, which again allow users to easily allocate their funds into staking pools. For those who want to do things themselves and be in complete control of their assets. There’s the free and open source wallets that come directly from the developers of cardano. And that’s the Daedalus and yoroi wallets.

The difference between Daedalus wallet and yoroi wallet

is that the Daedalus wallet is a full node, meaning that it needs to download the blockchain before it can be used, whereas the other one is a light wallet, meaning no blockchain sync is required.
Either way, these are the official options for the asset, which may be preferable for some enthusiasts, depending which route you take. staking returns can vary, but are most commonly between four to 8% yearly.

tezos

But another smart contract platform one that makes on chain governance and community control over the protocol a must. To this end. Users who hold tezos or xtz all have the ability to vote on future upgrades to the network.

Also in regular proof of stake fashion xtz can be staked in order to validate blocks which in tezos nomenclature is called baking.


Here again the price is a little high 8,000 xtz but users with less funds can of course delegate when it comes time to stake again users have options Binance , Coinbase, ledger and trezor hardware wallets as well as atomic wallet all support tezos of course for you do it yourselfers, the tezos website has everything you need to begin baking your own blocks.

Polygon

aka Matic if you haven’t heard polygon is basically a layer two

scaling solution for ethereum and in time plans to be able to link it to other blockchains.
Basically, it’s attempting to solve ethereum scaling today, but in a way that will stay relevant as the underlying blockchain actually evolves.
staking medic yourself is a bit technical, so we’ll link you to the official documentation down below for those of you that want to go that route.

Fortunately, using a helpful web wallet creatively named the polygon web wallet, you can connect to meta mask, select a validator and be staking your medic in no time.

The annual return will vary depending on how many tokens you stake and for how long, but the wallet has a calculator that lets you see how much you can make given various parameters.

theta network
theta network data is using blockchain to offer faster, cheaper, more censorship resistant video services than what is currently available for most traditional platforms.


Like the one you’re probably watching this on, he uses a hybrid system of validator nodes and Guardian nodes to be able to offer sufficiently high latency without compromising decentralization.
you can also stick your data on the network to help secure it.


This can be achieved by running your own Guardian node with a minimum stake of 1000 theta.
However, like most of the assets we’re talking about today, you can also do delegated staking fairly easily through the official web wallet or mobile app.

Elgorand

Elgorand is positioning itself to be the true blockchain 3.0, as well as solve the scaling trilemma.

It achieves this through a combination of a two thirds consensus mechanism as well as a semi random validator system. That’s fantastic. And the project has some pretty solid support. But what we want to know is how can you stake it? Fortunately, Elgorand is another asset with lots of easy staking options.
Here again, you have binance and Coinbase that allow you to stake as well as ledger and Exodus wallets.


There’s also the my elgo web wallet, which is a very solid standalone solution. Whatever you choose, you can expect around a 5% annual return on your state assets

Cosmos

also known as Adam looking to be the Internet of blockchains. Cosmos wants to bring interoperability to the whole crypto ecosystem. Think kind of like polygon but not focused on just ethereum.

Of course, the core network is proof of stake and hence allow staking. No surprise here, most of the same general purpose exchanges and wallets we’ve been talking about also support cosmos, so you should have no problem finding a place to stake your assets. What’s especially nice about this project is that it has a bit of a higher return than most of the other choices on our list coming in at 10% yearly, by the way, want to get involved in staking some crypto but don’t know where to get your first assets.

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