Are you considering alternative revenue streams with good returns? Ethereum staking is the process of locking up ETH coins to help maintain and secure the Ethereum network and get rewarded for it. All you have to do is stake your Ethereum coins with staking platforms and get rewarded for your effort. There are plenty of staking platforms available in the market. Here are some of the best Ethereum staking platforms.
Best ETH Staking Platforms
1. Lido
Lido is a popular non-custodial liquid staking platform and one of Ethereum’s biggest staking pools. Compared with other liquid ETH staking platforms, Lido offers substantial liquidity, with Total Value Locked (TVL) reaching over $18 billion. By leveraging the liquidity, users can exchange their staked Ethereum (stETH) tokens for other assets, offering flexibility within the DeFi ecosystem.
By choosing Lido for staking, users can stake their ETH and receive stETH as a reward. The reward rate for Lido-staked ETH is 3.28% Annual Percentage Yield (APY). The platform has no lock-in period, meaning that users can withdraw funds at any time. In addition to Ethereum, individuals can stake Polygon (MATIC) on Lido. There is no minimum staking amount in Lido, and the rewards are given daily.
2. Rocket Pool
Rocket Pool is a decentralized staking protocol designed to allow users to stake their Ethereum (ETH) coins and earn rewards in the form of non-rebasing liquid ETH (rETH). The platform has a unique feature called ‘Node Staking,’ where users can stake Ethereum and operate the node with a minimum staking deposit of 16 ETH. Upon staking, users will receive RPL tokens, native tokens of Rocket Pool, which can be used to participate in the platform’s DAO.
There is no lock-in period, and the rewards are distributed on a daily basis. The reward rate of Rocket Pool ETH is 2.80% APY. The Rocket Pool liquid Ethereum tokens offer better tax efficiency than other tokens and could reduce liabilities.
3. Coinbase
Coinbase is one of the top crypto platforms for staking cryptocurrencies, offering a diverse range of cryptocurrencies, including Ethereum, Solana, Polkadot, Cardano, and more. After staking Ethereum coins, users will receive a synthetic staked ETH called cbETH, which can be used to earn additional rewards.
It has an easy-to-use interface and robust security measures. The platform has no lock-in period, and the reward rate of staked ETH on Coinbase is 2.65% APY. Rewards are distributed every three days, and there are no minimum staking requirements, making it accessible to a wide range of users.
4. Binance
Binance, one of the largest cryptocurrency exchanges, allows users to stake Ethereum 2.0. Through this process, users can stake their ETH and receive a token called WBETH, representing both staked ETH and staking rewards they have earned. Binance distinguished itself with a unique feature called ‘Principle Guaranteed.’ This feature ensures the safety of users’ staking deposits by guaranteeing the return of their principal amount under any circumstances.
With no minimum staking requirements and the flexibility to withdraw funds at any time, Binance offers users accessibility without locking their assets. The rewards are distributed daily, maximizing investment opportunities for users. It has a staked ETH reward rate of 3.82% APR.
5. KuCoin
KuCoin is a popular platform for Ethereum staking, offering users the opportunity to stake their ETH coins and receive ksETH, KuCoin’s native token, in return. In addition to Ethereum, KuCoin supports other coins like Cosmos, Polygon, Polkadot, Cardano, and more. The ratio of ksETH to staked ETH is 1:1, and the platform has no limit to the amount of ETH that can be staked.
The exchange platform imposes no minimum budget requirements, and users can stake any number of coins. Individuals can withdraw their staked Ethereum after a 5-day redemption period. When staking Ethereum, the reward rate is 3.7% APY.
6. eToro
eToro stands out from the rest of the Ethereum staking platforms by streamlining the reward-earning process, as it manages staking execution on behalf of others. This makes eToro a good platform for passive income generation through Ethereum staking. Furthermore, eToro is user-friendly and has robust security measures, ensuring a safe environment for users.
The eToro platform requires a minimum of 32 ETH to run a staking node, or users can opt for Ether staking pools. A certain percentage of the yield is taken to cover the various operational expenses.
7. Bybit
Bybit is a leading platform for Ethereum staking, specializing in ETH 2.0 staking. Users can participate in the network’s validation process and earn rewards by staking ETH as collateral. The platform has features like the automatic exchange of staked ETH to stETH, which allows users to accumulate daily rewards based on token holdings. The platform offers a 7% Annual Percentage Yield on the staked ETH. Bybit has no minimum staking requirements on the amount of funds invested.
8. Kraken
Kraken is a well-known platform for Ethereum staking, offering on-chain staking services to streamline the staking process for users. Rewards earned from staking on Kraken typically require a certain bonding period, ranging from a few hours to a few weeks. Kraken allows users to withdraw staked coins anytime and imposes no minimum staking requirements. The platform offers a potential staked Ethereum reward rate of up to 6% APY.
9. Nexo
Nexo is another centralized staking platform where users can stake their ETH and receive NETH as a reward. The rewards are paid daily, and the conversion rate of staked ETH to NETH is 1:1. There is no lock-up period, and users can withdraw their funds anytime. Furthermore, there is no minimum staking requirement, and the platform boasts a user-friendly interface. The reward rate of Ethereum staked in the Nexo platform can reach up to 3.5% APY.
10. Ankr
Ankr is a decentralized liquid staking platform enabling users to stake their Ethereum coins and receive an ankrETH native token of Ankr as a reward. It is a multi-chain staking platform that supports Avalanche, Polkadot, Gnosis, and others. The platform is secured by institutional-grade security and has a user-friendly interface. There is no minimum staking requirement, and the rewards for staking are given daily. The reward rate for Ankr-staked ETH is 4.53% APY.
Conclusion
If you are considering holding Ethereum for the long term, staking Ethereum would be a good option as it offers the potential of dual income streams with a single action. By staking Ethereum, investors not only earn passive income through staking rewards but also benefit from the potential appreciation of the coin over time.
