Published
2 months ago on
February 21, 2024
Table of Contents
- Best 6 Staking Tokens To Watch Out for in 2024: Here’s a List
- Cardano (ADA)
- WHY WE LIKE IT?
- Near Protocol (NEAR)
- WHY WE LIKE IT?
- Mina (MINA)
- WHY WE LIKE IT?
- KangaMoon (KANG)
- Shiba Inu (SHIB)
- WHY WE LIKE IT?
- Tezos (XTZ)
- WHY WE LIKE IT?
Investors are always looking for top cryptos to buy to amplify their crypto earnings, with crypto staking emerging as a lucrative option. By staking their holdings, investors passively earn free crypto and governance rights while safeguarding against market downturns. This strategy mirrors traditional savings accounts but offers significantly higher returns, averaging between 5-30%, and in some cases, surpassing 100%.
Staking gains traction during bearish markets, allowing investors to hold onto their assets and earn substantial rewards without selling at a loss. Just as banks utilize deposited funds for lending, staking involves locking up digital assets to support blockchain operations and enhance security. In return, participants receive rewards in percentage yields, far surpassing traditional interest rates offered by banks. Let’s dive into the top crypto coins to consider for staking this year.
Best 6 Staking Tokens To Watch Out for in 2024: Here’s a List
Cardano (ADA)
By delegating your tokens to a staking pool, you enhance the productivity of Cardano staking. Staking pools play a crucial role in maintaining the security and governance of the Cardanoproof-of-stake blockchain.
When you delegate your tokens to a staking pool, you actively participate in the network by validating transactions. Validators, in turn, receive monetary compensation in the form of staking rewards for their role in supporting the network.
Reward Rate Apy: 2.04%
Staking Market Cap: 774.6B
Tokens Staked: 22.8B
Percent Staked: 64.36%
WHY WE LIKE IT?
● Staking offers higher yields compared to traditional investments, providing a passive income stream.
● Opting to stake all your ADA tokens poses no downsides if you're committed to long-term ownership.
● Unlike crypto mining, which involves significant expenses and risks, Cardano staking offers a hassle-free approach to earning money.
● By staking your ADA tokens, you contribute to the security of cryptocurrency networks with minimal setup requirements and energy consumption.
Near Protocol (NEAR)
NEAR Protocol enables token holders to stake their NEAR tokens to secure the network and earn rewards. Validators and delegators lock up tokens to validate transactions and maintain network integrity, receiving additional NEAR tokens as rewards. Staking offers both passive income and a chance to participate in governance decisions, contributing to network security and decentralization.
Reward Rate Apy: 9.16%
Staking Market Cap: 94.8B
Tokens Staked: 510.7M
Percent Staked: 49.11%
WHY WE LIKE IT?
● Stake NEAR tokens allow you to earn additional NEAR as rewards.
● Staking with NEAR Protocol grants access to participate in securing and governing the NEAR Protocol ecosystem.
● Staking NEAR Protocol incentivizes validators which in turn enhances overall security.
● Staking distributes governance power among token holders, fostering decentralization across the ecosystem.
Mina (MINA)
Staking MINA tokens within the Mina Protocol ecosystem is crucial for maintaining network integrity and decentralization. By committing MINA tokens as collateral, participants actively contribute to the validation of transactions and block production, thereby enhancing the security and reliability of the network.
The staking mechanism ensures that validators with higher stakes are incentivized to uphold the protocol's integrity, fostering a robust and decentralized ecosystem. Additionally, stakers have the opportunity to earn rewards for their contributions, providing an additional incentive for active participation.
Reward Rate Apy: 11.24%
Staking Market Cap: 76.5B
Tokens Staked: 974.7M
Percent Staked: 92.53%
WHY WE LIKE IT?
● Staking MINA tokens enhances the security of the Mina Protocol by incentivizing participants to validate transactions and maintain the integrity of the network.
● Staking MINA tokens allows participants to earn rewards for their contributions to the network, providing a passive income opportunity.
● By staking MINA tokens, users actively engage in securing and governing the Mina Protocol ecosystem, shaping its future direction and development.
KangaMoon (KANG)
KangaMoon (KANG) has accomplished yet another noteworthy milestone during its presale. The native token, KANG, is anticipated to attain a new all-time high within the next two weeks. Presently in the stage one of its token presale, the project has successfully sold 65% of the native KANG tokens and is nearing the $200K mark.
With its unique community driven approach , KangaMoon has drawn the interest of cryptocurrency experts. KangaMoon, in contrast to other meme coins, provides investors with other ways to create new revenue sources, adding to its functionality. You can stake your tokens and earn different rewards.
Shiba Inu (SHIB)
SHIB token's inception aimed to surpass Dogecoin's growth trajectory but it failed while DOGE maintained a value above $0.01, making it an attractive addition to many investors' cryptocurrency portfolios. With the recent launch of the ShibaSwap exchange, SHIB's utility expands significantly, offering holders opportunities to stake (bury) and farm (dig) their tokens. Notably, Shiba Inu's uniqueness lies in its Ethereum-based framework, coupled with a token supply initially minted upon launch, eliminating the option for token mining.
On ShibaSwap, SHIB holders can stake (bury) their tokens, earning rewards in the form of BONE tokens and a portion of ETH swap transaction fees. Staking SHIB can yield up to 4.29% APY, providing additional incentives for participation. Among the top cryptos to buy for staking, Shiba Inu holds substantial potential.
Reward Rate Apy: 4.29%
Staking Market Cap: Not available
Tokens Staked: Not available
Percent Staked: Not available
WHY WE LIKE IT?
● Shiba Inu benefits from a robust and passionate community, whose support has been instrumental in its success.
● Over the years, the coin has garnered significant acclaim and recognition, contributing to its widespread adoption and appeal in the cryptocurrency market.
Tezos (XTZ)
Tezos, an open-source blockchain, empowers peer-to-peer transactions and serves as a versatile platform for deploying smart contracts, engaging in decentralized finance (DeFi), creating decentralized applications (dApps), and exploring non-fungible token (NFT) projects. Staking Tezos (XTZ) has emerged as a popular avenue for cryptocurrency holders to earn passive income while supporting the security and consensus mechanisms of the Tezos blockchain.
Reward Rate Apy: 4.62%
Staking Market Cap: $40.7B
Tokens Staked: 664.9M
Percent Staked: 68.47%
WHY WE LIKE IT?
● Tezos, an open source platform, boasts an intuitive user interface, facilitating easy navigation for newcomers.
● Staking Tezos (XTZ) requires no minimum investment, offering flexibility to stake any amount of XTZ tokens directly from your wallet.
● Moreover, the platform supports multiple avenues for acquiring XTZ, including purchasing with fiat currency or other cryptocurrencies, as well as transferring existing XTZ holdings from external sources, providing users with diverse options for accessing and staking their Tezos tokens.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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