Staking helps to hold your crypto assets in custody thereby giving you the opportunity to participate and help maintain a network's blockchain and security. In exchange for locking up assets and participating in the network validation, validators receive rewards in that cryptocurrency known as staking rewards.
We have listed 10 Exchanges which are best for Cardano staking . You can go through the list to see the Exchange that better suits your investment choices.
What is Staking in Crypto?
Staking is simply a way to earn passive income from the crypto funds in your account. Certain cryptocurrencies use staking activities to verify transactions on a blockchain, a consensus mechanism referred to as “proof of stake.” This sees blocks of transactions added to a blockchain verified by people who already hold a certain stake in that blockchain's native currency. If you have some proof-of-stake tokens like Cardano, you have the chance to earn passively in exchange for your stake, with the specific amount depending on the currency at hand and how you stake tokens.
Best Exchanges to stake ADA tokens
Cardano can be staked using both custodial and non-custodial means to earn passive income. Some popular exchanges that offer Cardano staking have been carefully enlisted in this article. Cardano staking, just like most tokens, operates on a cyclical basis. Rewards are paid out at every designated time/ epoch determined by the network. Also, be aware that Cardano addresses have separate keys for spending and staking. This means that if you decide to stake your ADA tokens, they will never leave wallet, whether custodial or non-custodial.
The list below contains 10 exchanges where you can stake ADA tokens and earn rewards. In this article, we give you the APY offered by different platforms for staking ADA tokens, and also our verdict about the platform.
1. Binance Cardano Staking
Cardano was first listed for trading on the Binance platform on the 30th of November 2017 and was available for staking in February 2022 at a rate of 6.4% annualized returns. Currently, the APR varies widely depending on the product offering for Cardano.
You can start staking on this platform with as low as 10 USDT worth of assets. All you have to do is convert your 10 usdt stablecoin worth of assets to ADA tokens and subscribe to any staking product most convenient for you.
Below is a list of various APR you can earn when you stake Cardano tokens.
You can earn as high as 11.29% APR when you stake your ADA tokens on this platform.
Binance has continued to distinguish itself as not only the biggest Exchange but as also the biggest staking platform. Although from the list we've provided, they may not competitively be the best, their offer is quite convenient compared to other platforms, ranging from flexible to fixed staking durations.
This platform was first listed for staking on Kucoin on the 31st of Aug 2021, at a rate of 3% APR. Currently, there're various product offerings for ADA tokens. To join this staking activity, you need to be registered on KuCoin and have the required amount of ADA tokens in your custodial wallet.
Below is a list of various APR you can earn when you stake Cardano ADA tokens.
You can earn up to 6.26% APY when you stake ADA tokens on this Exchange.
Kucoin's offer seems to be fair enough, although slightly below what Binance is offering. But in the case of Kucoin, users must complete their verification process before they're eligible for staking. The staking process is intuitive with a user-friendly interface. In cases where you want to unsubscribe from a staking product, you can apply, and the application is usually effected within 24 hours.
3. Kraken Cardano Staking
Kraken offers as high as a yearly 23% APR when you stake your tokens with their platform. Your rewards are collated twice a week, and un-staking is done at any time with no penalties. You can start staking ADA on this Exchange by signing up to this platform if you're yet to be registered. Next is to add the required amount of ADA tokens by either depositing or buying directly on the platform. Kraken listed ADA for trading in September 2018. Currently, Kraken offers a yearly reward of 4-6% APY on ADA tokens.
ADA staking rate for Kraken: 8.82% APY
You can earn up to 8.82% APY when you stake your ADA tokens.
This platform is another unique Exchange for staking your token. From our list, they're the only platform with a two weeks consistent interval for collating returns. So if your staking goal is for the short term, then this platform is a go. Kraken just like Kucoin requires that you complete verification before you're qualified for staking activities.
Cardano staking was first launched on Bittrex Exchange on December 2021. Currently, you can earn up to 5.5% APY rates when you stake ADA tokens. The Exchange provides a flexible term staking with no maximum limit required. To be eligible to stake with Bittrex Global, you must complete your identity verification (KYC), accept the latest Bittrex Global Terms of Service, and own at least one (1) ADA token for deposit.
ADA staking rate for Bittrex: 5.5% APY
You can earn up to 5.5% APY when you stake ADA tokens with this Exchange
Bittrex Exchange seems not to be the most competitive on our list, but other factors help them stand out. Intuitive interface and up-to-date security. It's a good choice to stake your ADA tokens.
Earning rewards from staking activities with this Exchange is on a yearly basis. This means that, in order to use this platform, your staking goals should be for a year-long period. ADA token was first added to the staking list on the 19th of June, 2020, and currently, your staking reward for ADA tokens is 3% p.a. (per annum).
ADA staking rate for Crypto.com: 3% p.a. (per annum)
You can stake your idle ADA tokens with this platform and earn rewards of up to 3% APY per annum.
The unique factor about this Exchange is that they offer staking services for a year-long period. So, you might want to consider this Exchange if your staking goals would be that long, with no ambition of an elaborate ROI, as other platforms from this list would offer better staking rewards for this long period.
This platform rewards staking activities on a monthly basis. Staking with eToro is quite simple, secure, and hassle-free. So far, eToro’s staking rewards are among the most generous in the market, offering from 75% and up to 90% of the staking yield. Although UK residents registered with eToro on or after February 8, 2022, and all eToro US users are not eligible for staking activities on this platform.
Below is a list of various APR you can earn when you stake your ADA tokens.
Stake your ADA tokens with eToro and earn tremendous rewards on a monthly basis.
eToro has shown to be the biggest staking rewarder on our list. The unique challenge with this platform is its geographical restrictions which have always been evolving. S, our advice is beyond the countries we provided in our work, you can go ahead to check if your country of residence is eligible to stake with eToro Exchange.
No additional actions are required to stake ADA on CEX.IO. You just need to have some Cardano on your balance and your reward will be calculated automatically. The reward will also be distributed automatically at the end of the staking period. The amount of reward depends on how many coins you have on your balance. The minimum deposit to commence staking on this platform is 10 ADA tokens.
Cardano Staking rewards for CEX.io: 2.6% APY
You can earn up to 2.6% APY when you stake ADA tokens with CEX.io. Sign up now and start earning passively.
CEX.io requires that you have up to 10 ADA tokens before you're eligible to stake Cardano with their platform. The challenge would eventually be if you're not able to afford their minimum requirement. Their reward rate isn't as competitive as other Exchanges we've listed in this work.
ADA staking services commenced on this platform on the 25th of May, 2021 with a 5% estimated yield. Currently, you can stake your ADA tokens with just a few clicks and earn yield in return. Similar to Binance, this platform offers a wider variety of staking products for your ADA tokens so you can choose from a product most convenient for you.
Below is a list of various APR you can earn when you stake your ADA tokens.
You can earn up to 16% APY when you stake your ADA tokens for 90 days.
OKX, Kucoin, and Binance are quite similar in their staking offering, providing a wide variety of staking options to subscribe to. OKX also requires that you verify your account before you can use their staking services.
You can earn up to 5.50% APR plus compounding interest when you stake your tokens with this platform. Although as is typical of this platform, your tokens are held in custody for a period of one year. All you have to do is create an account or sign in with the platform, verify your account, deposit ADA tokens and start earning. Youhodler's newest feature, Dual Asset, allows you to stake ADA for a period of 12 hours to 2 days and generate a yield as high as 230%.
ADA Staking rewards for Youhodler: 5.5% APR
You can earn up to 5.5% APR when you stake your ADA tokens with this platform
Similar to Crypto.com, this Exchange also offers a yearly reward on your staked ADA tokens. So you can subscribe to this platform if your staking goals are for a long-term period. Please do consult with the platform to have detailed knowledge of the Dual Assets Staking offering, as we've already covered the boundaries of our knowledge delivery.
You can earn an est.APY of 3.61% with a minimum deposit of 100 ADA to initiate staking activities on this platform. ADA token was first listed on this platform on the 25th of April, 2019, and was available for staking on the 20th of June, 2020. All you need to do is sign up or log in to this platform, and verify your account to qualify for staking activities.
ADA staking rewards for Huobi: 3.16%
Earn up to 3.16% APY when you stake your ADA tokens on this platform
Similar to CEX.io, Huobi requires that you have up to 100 ADA tokens in custody before you can be qualified for staking, in addition to verifying your accounts. So this platform can be worthy of consideration if you can afford 100 ADA tokens.
When you look closely at the list we've provided, you'll realize that different platforms offer different staking rewards. Generally, there're two major categories of staking offers; they're fixed and flexible staking offers. Fixed staking enables users to only access their earnings after a stipulated time they subscribed to, whereas, flexible staking enables users to access their earnings without time restrictions. From our list, eToro has a very competitive staking offering, but with very significant exceptions which we've already stated. And they're staking duration is fixed. On the other hand, Kraken exchange has the best offering for flexible staking on our list. Exchanges like crypto.com and Youhodler would hodl your tokens for a year's period, but you can always apply for an un-staking of your tokens. So for long-term custody of your assets, these two Exchanges are readily available.
Now you know how to stake Cardano. While staking, you earn rewards in a way that is similar to interest in a savings account. You can move or un-stake your coins at any time. Staking is appealing to most investors as it is a form of passive income.