Best Coins For Crypto Staking For October 2024: Up To 5%

The coins for crypto staking offered by SunCrypto Trading Platform start from 1.25% APY to 5% APY. Silimar to other crypto exchange competitors like CoinDCX and Binance offering crypto stakes at 3-4% and more APY. SunCrypto is a flexible and reliable platform of coins for crypto staking, where you can find all popular coins in public demand. All crypto staking in our rankings were collected, verified, and available to open as of Oct. 01, 2024.

Every business week, we publish SunCrypto’s crypto weekly report about market fluctuations of the week. Below, you'll find all the information about available tokens or coins for crypto staking.

Top Crypto Staking Coins Price—January 2024 to Present

The top coins for crypto staking on the SunCrypto Trading Platform are listed below in order of provided APY, where more than one crypto coin has the same rate, we've ranked accounts by those requiring the smallest minimum ongoing balance, and if the same there as well, we list the tied cryptocurrencies alphabetically.

1. ApeCoin (APE), Staking - 3% APY

• Annual Payment Yield: 3%

• Investment Limit: 5 APE to 4,000 APE

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: The original BAYC collection was developed by Yuga Labs. The company was founded in February 2021 by a group of pseudonymous members: Greg Solano or “Gargamel”, Wylie Aronow or “Gordon Goner”, and co-founder engineers Kerem Atalay or “Emperor Tomato Ketchup” and Zeshan Ali or “Sass”. Nicole Muniz is the currency CEO of Yuga Labs. 

• Staking verified as of Sept. 30, 2024

2. Axie Infinity (AXS), Staking - 3% APY

• Annual Payment Yield: 3%

• Investment Limit: 1 AXS to 500 AXS

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: Axie Infinity was launched in 2018 by Vietnamese gaming studio Sky Mavis and was co-founded by Trung Thanh Nguyen and Aleksander Larsen. 

• Staking verified as of Sept. 30, 2024

3. Binance Coin (BNB), Staking - 1.25% APY

• Annual Payment Yield: 1.25%

• Investment Limit: 0.1BNB to 50 BNB

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: Binance Coin was created in July 2017. It initially worked on the Ethereum blockchain with the token ERC-20 before it became the native currency of Binance’s blockchain, the Binance Chain founded by Changpeng Zhao (CZ).

• Staking verified as of Sept. 30, 2024

4. Core DAO (CORE), Staking - 2.50% APY

• Annual Payment Yield: 2.50%

• Investment Limit: 5 CORE to 500 CORE

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: Core DAO was created by developers and contributors, including Brendon Sedo and CJ Reim, and launched in January 2023. While the main development team currently manages Core DAO, the community's goal is to eventually take over its governance.

• Staking verified as of Sept. 30, 2024

5. Cosmos (ATOM), Staking - 3% APY

• Annual Payment Yield: 3%

• Investment Limit: 1 ATOM to 1,000 ATOM

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: Jae Kwon and Ethan Buchman co-founded the Cosmos network in 2014, creating the Tendermint consensus algorithm that powers Cosmos. They later wrote the Cosmos white paper and released the software in 2019.

• Staking verified as of Sept. 30, 2024

6. Internet Computer (ICP), Staking - 2% APY

• Annual Payment Yield: 2%

• Investment Limit: 3 ICP to 700 ICP

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: In early 2016, the Internet Computer came as an idea conceived by Dominic Williams, the chief scientist and founder of DFINITY. DFINITY is a non-profit organisation that developed and managed the Internet Computer project for five years before its official launch.

• Staking verified as of Sept. 30, 2024

7. Polygon (POL), Staking - 2% APY

• Annual Payment Yield: 2%

• Investment Limit: 10 POL to 15,000 POL

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: Polygon was launched in 2017 to solve Ethereum’s issues with scalability and usability. Originally called Matic Network, Polygon is a layer-2 solution designed to enable fast and low-cost transactions on Ethereum while maintaining security and decentralisation.

• Staking verified as of Sept. 30, 2024

8. Polkadot (DOT), Staking - 5% APY

• Annual Payment Yield: 5%

• Investment Limit: 2 DOT to 515 DOT

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: Polkadot was founded in 2016 by Gavin Wood (who co-founded Ethereum), along with Peter Czaban and Robert Habermeier. Wood is well-known for creating Solidity, the programming language developers use to build decentralised apps (dapps) on Ethereum.

• Staking verified as of Sept. 30, 2024

9. Solana (SOL), Staking - 2% APY

• Annual Payment Yield: 2%

• Investment Limit: 5 SOL to 5,000 SOL

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: Solana is named after a small coastal city in Southern California, it is the brainchild of software developer Anatoly Yakovenko. He first proposed this innovative blockchain in 2017, and Solana launched in March 2020. Today SOL has become a popular crypto, ranking as the 5th largest coin by total market capitalization.

• Staking verified as of Sept. 30, 2024

10. Terra (LUNA), Staking - 2%APY

• Annual Payment Yield: 2%

• Investment Limit: 3 LUNA to 15000 LUNA

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: The Terra project was created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. Terra was best known for its stablecoin and its reserve cryptocurrency, LUNA. Terra is a blockchain platform used for creating stablecoins, which are designed to keep a stable value using algorithms.

• Staking verified as of Sept. 30, 2024

11. Terra Classic (LUNC), Staking - 2.5% APY

• Annual Payment Yield: 2.5%

• Investment Limit: 10,000 LUNC to 11,00,00,000 LUNC

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: Terra Classic (LUNC) is the native token of the original Terra blockchain. The Terra project, started by Do Kwon and Daniel Shin in January 2018, aimed to drive mass adoption of cryptocurrencies by creating a decentralized payment network.

• Staking verified as of Sept. 30, 2024

12. Tron (TRX), Staking - 3% APY

• Annual Payment Yield: 3%

• Investment Limit: 100 TRX to 50,000 TRX

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: TRON was founded by Justin Sun in 2017, with the TRON Foundation established in Singapore in July of that year. The foundation raised $70 million through an initial coin offering (ICO) before China banned digital tokens.

• Staking verified as of Sept. 30, 2024

13. Zilliqa (ZIL), Staking - 2% APY

• Annual Payment Yield: 2%

• Investment Limit: 350 ZIL to 1,38,735 ZIL

• Time Duration: 7 days, 14 days, 21 days and 28 days

• Overview: In June 2017, Zilliqa was founded by Amrit Kumar and Xinshu Don,  In March 2018, The testnet went live, In January 2019: The Zilliqa mainnet was launched and In 2020, tokens were moved to the Zilliqa mainnet during a token swap, making Zilliqa an independent blockchain with its native token.

• Staking verified as of Sept. 30, 2024

Why Can You Trust Us?

SunCrypto provides trading on over 320+ cryptocurrencies every day. When staking crypto coins or tokens, we look at factors that will help users choose the profitable ones. We also research crypto coins or tokens to provide unbiased, comprehensive reviews to ensure our users make the right decisions for their needs. SunCrypto launched in 2021 and has been helping traders find the best crypto coins to stake since 2021.

What is APY for crypto staking?

APY, or Annual Percentage Yield, shows the estimated yearly return you can earn from staking your cryptocurrency. It’s like the interest rate you get for staking your crypto assets, helping you understand how much you could earn in a year.

What is the meaning of Crypto Staking?

Crypto staking means locking up your digital coins in a blockchain network to earn rewards, usually a percentage of the coins you stake. It’s also how people who own tokens get the right to help run certain blockchains that use a proof-of-stake system.

Here’s a simple example: Imagine a blockchain offers a 3% reward for staking for one month. You decide to lock up 50 tokens. After a month, you can unlock your tokens and get 3 extra tokens as your reward.

Ways for Staking Cryptocurrencies

Cryptocurrency staking generally falls into two types: active and passive.

1. Active staking means locking your tokens in a network and participating directly, like helping verify transactions or creating new blocks, in exchange for rewards. 

2. Passive staking is when you simply lock your tokens to support the network’s security and operations, without much involvement. It’s easier but usually earns fewer rewards than active staking.

There are different ways to stake your cryptocurrency:

1. Delegated staking: You let someone else handle the staking by assigning your staking power to their validator node. Rewards are shared between you and the validator.

2. Pool staking: Multiple people pool their tokens together to increase their chances of earning rewards. The rewards are then shared among the pool members based on how much they staked.

3. Exchange staking: Some crypto exchanges offer staking services, allowing users to stake their tokens through the exchange, which handles everything and distributes rewards.

4. Liquid staking: In exchange for staking your crypto, you receive tokens that represent your stake. These tokens can be traded or used while your original stake remains locked.

Staking can be custodial or noncustodial:

1. Custodial staking: You transfer your tokens to a platform that handles the staking process.

2. Noncustodial staking: You keep your tokens in your wallet and still participate in staking.

Each method offers different levels of involvement, risk, and reward. SunCrypto primarily supports delegated crypto staking, and for selected cases, we offer liquid staking based on the varying risks associated with different crypto coins.

Beginner mistakes while using coins for Crypto Staking from an exchange?

You're more likely to succeed with using coins for crypto staking if you avoid common beginner mistakes. Here are common mistakes to work on:

1. Not doing enough research: Some people jump into staking because of high reward promises without fully understanding how it works or the risks involved.

2. Overlooking price changes: Many beginners forget that the value of their staked tokens can drop while they’re locked up, which can impact their overall investment.

3. Ignoring lockup periods: New stakers may not consider how long their tokens will be locked, only to realize later that they can’t access their funds during an emergency.

4. Neglecting security: In a rush to earn rewards, some people don’t take enough precautions to protect their assets. For example, they might use noncustodial staking without proper security measures or knowledge.

5. Underestimating slashing risk: Those running their staking nodes might not realize the risk of slashing penalties, which can result in losing some of their staked crypto if things go wrong.

6. Forgetting tax implications: Staking rewards can be taxable, but many beginners overlook this and may face tax issues later.

7. Staking too much: Staking is just one way to grow your crypto investments, and it's important not to put all your eggs in one basket. Diversify your portfolio instead of relying entirely on staking.

Pros of using coins for crypto staking:

Staking your digital tokens can be appealing for several reasons:

1. You can earn passive income on crypto assets you plan to keep for the long term (what’s called “HODLing” in the crypto world).

2. The rewards you earn might increase in value over time.

3. Staking helps improve the security and efficiency of the blockchain network.

4. It allows you to actively participate in the network’s operation.

Cons of using coins for crypto staking:

However, there are some risks and downsides to staking:

1. Your assets are locked up and can’t be easily accessed during the staking period.

2. Both your staking rewards and your staked tokens can lose value if prices fluctuate.

3. There’s a risk of “slashing,” where part of your cryptocurrency is taken away for breaking network rules.

4. When many people receive staking rewards, it can lead to inflation, reducing the value of the cryptocurrency.

Because you’re more involved with the staking platform or network, it’s often riskier than simply holding your crypto in a secure wallet.

FAQs: Best Coins for Crypto Staking

1. What is the difference between validators and delegators in staking?
   Validators are computers (nodes) on a blockchain that confirm transactions and create new blocks. Delegators are people who give their tokens to validators to take part in staking. Delegators earn rewards based on how well the validator performs.

2. What is the difference between reward and adjusted reward?
   The reward is the extra tokens or coins you earn from staking. Adjusted rewards take things like inflation and the total number of tokens into account, giving a clearer picture of the actual value of the rewards over time.

3. What is the best coin for staking?
   The best coin for staking depends on your goals and what you’re looking for. Consider factors like the interest rate (APY), the coin’s market potential, and how stable it is when choosing.

4. What is the difference between APR and APY?
   APR (Annual Percentage Rate) is the yearly interest rate without including the effects of compounding. APY (Annual Percentage Yield) includes compounding, giving a more accurate idea of how much you can earn.

5. Which crypto gives the highest staking rewards?
   High staking rewards depend upon market liquidity and fluctuations. Each crypto performs according to purchase and sale in the market. To find the potential cryptos belongs high staking rewards, you need to research and analyse the crypto market properly.

6. What are the risks of taking high APY cryptocurrencies?
   High APYs can be tempting, but they often come with high risks. These coins can be very volatile, meaning their value can change a lot, leading to potential losses. Projects with very high APYs may also be less secure or could even be scams. Always research thoroughly and understand the risks before staking.

7. How do taxes affect crypto staking rewards?
   In India, the IRS considers staking rewards as taxable income when you receive them. Any profits you make from selling, trading, or using your staking rewards are taxed at 30%, plus an additional 4% for health and education purposes. Additionally, when you sell cryptocurrency, the buyer deducts 1% of the sale amount as Tax Deducted at Source (TDS). You’ll need to report the value of the rewards on your tax return. 

Because crypto taxes can be complex, it’s a good idea to use a crypto tax service like consult a tax professional to ensure you’re handling everything correctly.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared,  if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you do your research or consult an expert before making any investment decision. You may write to us athelp@suncrypto.in.

Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial.