I will be showing your my 4 top staking coins in this video. Staking coins / staking crypto is a great way to earn passive income from your cryptocurrency as the returns can range from 5% to over 100%.
0:00 Top 4 Staking Coins
1:24 Cardano ADA
3:18 Polkadot DOT
5:00 Algorand ALGO
6:49 Pancakeswap CAKE
First choice would be Cardano ADA. It is one of the top 10 cryptos based on market capitalization. It is also the most staked crypto at the time of making this video. The price has rose after I made my previous video. Cardano’s most notable project would Project Africa which is currently ongoing. And they have recently partnered with the Ethiopian Government to roll out their blockchain for a better education system. Staking Cardano can give 4-5% APY.
Second choice is Polkadot or DOT. DOT is also created by an Ethereum co-founder. DOT is a multi-chain. What does this mean? It allows other developers to build on the DOT blockchain and create a universe where all the blockchains can inter-connect. I found there were two main ways to stake DOT. The first way was to stake with a broker like Binance. One was with a hardware wallet, Ledger. The staking rewards from Binance is 12.79% APY for a 30-day lock.
Third choice is Algorand or known as ALGO. Algorand is designed to be payments-focused. This means that Algo wants to allow anyone to be able to send money – fast and cheap. Now let’s go deeper into this. Take Bitcoin for example- It is slow and expensive. Bitcoin processes 5 transactions per second. Algo processes 1000 transactions per second. The cost to send bitcoin can vary depending on how many people is using the network at the time. It can range from $10-$50. If you wanted to send $5 of bitcoin, you would still have to pay $10 worth of gas fees. To send algo, fees can be as low as $0.001 per transaction — regardless of the transaction size. The returns from staking ALGO is 5.5% APY.
Fourth choice is Pancakeswap or CAKE. Before the meme coin craze, there was the food craze. It started with Sushiswap, bakerysawp then now we have Pancakeswap. Pancakeswap is an crypto exchange that is built on the Binance Smart Chain which is meant to make it faster than projects that are built on Ethereum. Pancakeswap is fairly successful at what they do since it has recently surpassed the entire ethereum blockchain in transaction volume. Returns from CAKE is above 100%. Compared to our past few choices, this is incredibly high. For this however, you would need to lock up your coins which I feel is completely fine given the high returns. The current high returns will not last forever though. The more people that join you in staking CAKE, that will also decrease the yield over time.
I hope you liked my 4 best staking coins 2021. Let me know what you think in the comments below! Like and subscribe if you found the content helpful.
Disclaimer: This video is only for educational purpose and is not financial advice. Cryptocurrency is a risky asset. Invest at your own risk.