Staking your cryptocurrencies enables you to earn more crypto and the interest rates can be very generous, depending on the network. In some instances, you can earn between 10% to 20% annually. It's potentially a very profitable way to make money passively. All you need is a cryptocurrency that uses the proof-of-stake mechanism.
We have listed about 8 Exchanges to stake your NEAR token. You can go through the list to see the Exchange that better suits your investment choices.
What is Staking in Crypto?
Staking is a way of earning interest on your cryptocurrency by depositing it for a fixed period of time. In staking, deposited coins are used to verify transactions on the blockchain. This system is referred to as the Proof of Stake (PoS) mechanism. Proof of stake is necessary for the blockchain network as those who participate in creating a new block are rewarded.
8 Best Exchanges to Stake NEAR Protocol
NEAR token operates on a PoS consensus protocol to validate transactions. You can stake NEAR tokens and receive rewards up to 30% APY while contributing to the security of the network. Holders of NEAR who stake their tokens contribute to the governance of the network and are rewarded with staking interests. Currently, Near Protocol has a staking market cap of approximately $1.5 billion with 39% of token holders staking the coin.
The list below contains 8 exchanges where you can stake your NEAR token and earn rewards. In this article, we give you the APY offered by different platforms for staking NEAR tokens, and also our verdict about the platform.
Binance Exchange first listed the NEAR protocol on its platform for trading on the 14th of October, 2020. Currently, the protocol is available for both trading and staking. Binance offers a wide variety of staking duration ranging from a locked-up period to a flexible period. You can earn as high as 30.49% APY when you stake your NEAR token.
Below is a list of various APR you can earn when you stake your NEAR token.
|NEAR||Locked Staking||30.49%||120 Days||Stake|
|NEAR||Locked Staking||17.90%||90 Days||Stake|
|NEAR||Locked Staking||11.59%||60 Days||Stake|
|NEAR||Locked Staking||10.19%||30 Days||Stake|
You can earn as high as 30.49% APY when you stake your NEAR token.
Overall, we still believe that Binance offers the best APR rates for staking various protocols and tokens. The choices are many, with an intuitive user interface. All you have to do is to deposit some amount of NEAR token in your account and subscribe to a NEAR stake that best suits you.
Kucoin just like Binance Exchange offers various staking duration for NEAR tokens ranging from flexible to a defined time. You can earn up to 11.75% APY when you stake your token for a period of 7 days. NEAR token was first listed for staking on the 5th of August, this year, and has been listed for trading since the 8th of July 2021.
Below is a list of various APY you can earn when you stake your NEAR token.
You can earn up to 11.75% APY when you stake your token for a period of 7 days.
Kucoin offers a very convenient rate for staking NEAR tokens, depending on what you want. There's also a flexible slot for your TOKEN which gives you the advantage of withdrawing your token whenever you wish. All you need to get started is to sign-up if you do not have a Kucoin account, and deposit the required amount of NEAR token.
3. Huobi Global
Huobi Exchange requires that you have 100 tokens of any protocol including NEAR before you can be qualified for staking. You can earn up to 8.82% APY and they offer a flexible duration for staking so that you can withdraw your token whenever you wish. Although the token was first listed on the platform on the 14th of October, 2020, it was first available for staking on the 22nd of December 2021.
NEAR staking rate for Huobi: 8.82% APY
You can earn up to 8.82% APY when you stake your NEAR tokens. And they offer a flexible duration for staking so that you can withdraw your token whenever you wish.
Huobi is a convenient platform to stake your NEAR token provided you have the required amount of tokens. The platform is user-friendly and intuitive. Staking on this platform depends on your economic capabilities, thereby making other platforms on this list a worthy note of consideration.
OKX platform is also similar to Binance as they both offer a wide range of staking options so that the investor can choose from an option best suitable. As you can see from the table below, you can earn up to 30.40% APY when you stake your NEAR token for a period of 120 days.
Below is a list of different rates you can earn when you stake NEAR tokens on OKX.
OKEx offers a variety of staking options for your NEAR token. And you can as well subscribe to either a flexible or fixed duration of staking.
OKX operates at a more competitive level when it comes to staking tokens. It may arguably be the best platform to stake your NEAR token alongside Binance Exchange. Although to access their staking interface, you need to get verified on the platform, with the required amount of NEAR token deposited on your custodial wallet.
The Exchange offers a "No lock-up period" for staking NEAR tokens with an APY OF 7%. Please note that the staking platform power piggy is an arm of Bitrue Exchange responsible for staking activities. So when you click on the Earn button, you'll be redirected to the platform to stake your NEAR token.
NEAR Staking Rate for Bitrue Exchange: 7% APY
You can earn up to 7% APY when you stake your NEAR token on this platform.
For the categories of tokens that can be staked at a flexible duration, we believe that this Exchange has been very lucrative so far. Bitrue also requires that you're verified before you can access their staking interfaces. The platform is intuitive and user-friendly.
Unlike other Exchanges, you're entitled to a higher APY rate when you have a certain amount of NEXO token deposited in your account. So your earnings are not just tied to the performance of the network, but also to the amount of NEXO tokens you're hodling. Basically, you can earn an APY of up to 10% when you stake your NEAR token. And the staking duration is also flexible, making it the highest on our list.
NEAR Staking Rate for Nexo Exchange: 10% APY
You can stake your NEAR token on this platform and earn up to 10% APY, and earn more when you hodl the NEXO token.
We believe that from our list, Nexo offers the best APY rates under the flexible duration category. Since your Nexo hodlings can influence your overall APY rates, you can as well have enough deposits of both tokens. Please understand that your APY rates are primarily determined by the network's performance so as to prevent undue expectations.
With Bitpanda Exchange you'll have weekly returns on your investments. This means you're eligible to withdraw your staked assets on a weekly basis. They also offer an auto-staking mechanism so that you're assets are automatically staked during weeks when no withdrawals are made. You can earn up to 9.34% APY when you stake your NEAR token with Bitpanda.
NEAR Staking Rate for Bitpanda Exchange: 9.34% APY
You can earn up to 9.34% APY when you stake NEAR tokens with Bitpanda Exchange.
For investors who may be in need of a shorter staking duration, this platform may not be the best choice. But their APY rate is quite competitive compared to what is obtainable with most exchanges. The interface is beginner friendly and very intuitive.
You can earn up to 8% APR + compounding interest when you stake your Near token with Youhodler Exchange for a period of one year. The lowest time duration for this Exchange is a month's period with a basic deposit of approximately 40 NEAR tokens. Depending on your choice, you can stake between 1 month, 3 months, and 12 months duration. The platform offers staking services basically for long-term periods.
NEAR Staking Rate for Youhodler Exchange: 8% APY
You can earn up to 8% APY plus compounding interest when you stake your idle NEAR token.
This platform offers staking services for a long-term period. So if you're having an idle NEAR token and would not be in need of it for up to a year's period, then this platform is a good choice.
When you look at the list we've provided you'd realize that OKX and Binance offer the best APR rates for staking your NEAR token. But when it comes to staking for a flexible time duration, Nexo tops this list. Apart from the APR/APY returns, you have to also consider several factors for an Exchange, such as user interface, customer support, and security. Kindly understand that APYs of any token are largely influenced by market conditions and the performance of the network. During bad market behaviors, you may be experiencing a loss instead of the expected profits. As we'd always advise, the crypto market is very volatile so you should only invest money you can afford to lose.