Crypto staking is getting popular among investors. Why wouldn’t you let your crypto work for you, right? In this article, we will discuss what the best crypto staking platforms in the UAE are to get the most out of your cryptocurrency holdings.
What is crypto staking?
Crypto staking means the purchase of crypto coins to keep (hold) them in a wallet for a certain period of time. You will receive a fixed interest rate at the end of the agreement. Super easy, buy crypto and then lock it for a fixed period and earn interest.
Staking works with Proof-of-Stake (PoS). This algorithm creates new blocks on the blockchain. By staking, new blocks are created by a crypto user who is already holding some coins. This staking validates new blocks and transactions on the blockchain.
Anyone who has crypto can take part in the validation of blocks by staking crypto. You do this by staking cryptocurrency. The more coins you own, the more power you have to validate transactions. For the validation of cryptocurrency, you will receive a certain amount back. This is called crypto staking and can yield a nice return.
As an investor, you are always looking for the best return on your investment. So where do you get this?
Best Crypto Staking Platforms in UAE:
It is important that you choose the best crypto staking platform to stake your crypto on. Lower costs mean higher returns. After all, you want to pay yourself and not the platform.
- eToro – the most popular crypto staking platform with built-in copy trading tools
- Crypto.com – The most user-friendly crypto staking platform
- Binance – the crypto staking platform for those who wish to trade as well
- Coinbase – the best beginner-friendly platform for crypto staking
|RANK||BROKER||GENERAL||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||eToro||Excellent social trading features||4,9/5||Best Platform||Official website|
|#2||Crypto.com||Stake more than 40 different coins||2,5/5||Most user-friendly crypto staking platform||Official website|
|#3||Binance||Hundreds of digital currencies||3,1/5||Secure and professional platform||Official website|
|#4||Coinbase||Beginner-friendly platform||2,6/5||The best U.S. platform||Official website|
Our Top 5 Crypto Staking Platforms In Overview:
1. eToro – The most popular crypto staking platform with copy trading
Min Deposit: $200
Assets available: 4.8
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD
eToro is by far the best crypto staking platform. They charge low fees and have a built-in copy trader tool that allows you to copy the positions of successful traders. They take a small cut from the profits you earn, but that’s more than reasonable for what they give you in return.
On eToro it is possible to stake Cardano (ADA), Tron (TRX), and Ethereum (ETH). All you need to do to start staking on eToro is deposit either of these cryptos on your eToro wallet and opt-in for the staking program. eToro takes 25% of your staking profits if you are a regular user. If you are a Diamond or Platinum+ club member, eToro takes 10%.
2. Crypto.com – The most user-friendly crypto staking platform that pays up to 14.5% pa
Assets available: 3.8
On Crypto.com you can stake more than 40 different coins. There are also different types of staking methods on the platform. The available staking methods are Crypto.com Earn, soft staking, and CRO staking. CRO is the native token of Crypto.com, which you can compare with Binance’s BNB.
At Crypto.com Earn, the amount you own in CRO is taken into account. If you bought CRO during an advantageous period, there is a chance that you will automatically move up a tier due to the increase in CRO value. This can work both ways, so it’s wise to keep this in mind.
Another option for staking is soft staking. CRO is also important here, but with this staking variant, the amount of CRO tokens are taken into account. This staking option is suitable for investors with a large portfolio.
Apart from the distinction in CRO tokens, there is also a minimum deposit to be able to use soft staking. The minimum deposit is quite low and differs per cryptocurrency. For example, you need 800 XRP, 80 EOS, or 200 USDC. In total there are 28 coins that you can stake at Crypto.com.
3. Binance – Staking crypto and trading at the same time
Assets available: 5.0
On Binance you can stake a broad range of cryptos. To start staking crypto on Binance, you need to follow a few steps. First of all, you cannot stake every crypto you can trade on Binance. You can check whether the crypto that you hold on the Binance website is available for staking.
You start staking crypto at Binance by logging into your Binance account and going to the ‘Earn’ option. Here you select the option ‘Staking’. You will then see a screen with different crypto that are available for staking. You can see for each crypto what the annual return will be and how much of the crypto you should own to be able to stake. If you meet the conditions, you can click on ‘Deposit’ or ‘Buy’. You then participate in the staking of the chosen cryptocurrency.
At the moment you can stake Neo, Tezos, Dash, Chainlink, and Ethereum on Binance. The interest rates vary per coin and chosen lock-up period.
4. Coinbase – Best U.S. Platform For Staking Crypto
Assets available: 3.6
Anyone can participate in crypto staking on Coinbase. You do this by logging into Coinbase and going to the settings. Click on ‘Financial Services’. Here you will find all the available staking options. Coinbase will show you which crypto are stackable and what the interest rates are per lock-up period.
The best crypto staking coins
Below we discuss some of the best staking coins. When looking at these coins, we don’t only look at the return, but also at how popular the coin is. A high return is preferable, but if the coin is then worth much less it is of little use to you.
1. Cardano (ADA)
Cardano is the alternative to major cryptocurrencies such as Bitcoin and Ethereum. It has been using Proof-of-Stake for blockchain network validation since its inception.
When you stake Cardano, you get an annual return of between 5% and 9%. At an online broker like eToro you can buy and stake this coin.
Cardano has a few advantages over Ethereum. For example, it can process more transactions through the more efficient Proof-of-Stake system.
2. Tron (TRX)
Another suitable option for staking is Tron. You can also stake this coin at eToro and you don’t even have to do anything for that.
At Tron, the return on staking is around 5% per year. You receive this return in new Tron coins that you will find in your wallet. Tron is one of the 30 most valuable cryptocurrencies of the moment and is widely used.
3. Polygon (MATIC)
The Polygon coin has been around since 2020 but only became popular in 2021. The market value rose from less than 100 million dollars at the beginning of 2021 to a record high of 10 billion dollars.
You can stake Polygon and you will then receive an annual return of about 12% on your invested coins. The process of staking this coin is more difficult than with the previous two options. You have to become a Polygon validator or delegator to stake Polygon.
Once you are one of these, you have to send your Polygon to a trusted MATIC staking provider. You can do this with ERC-20 wallets like MetaMask. Luckily, you can buy Polygon on Coinbase and eToro.
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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.