Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The Internet is full of bizarre ways to earn extra. But while most of these ways end up in Ponzi schemes or scams, some legitimate ways to earn passive income also exist. One such very effective way is Staking crypto.
Unlike other fraudulent crypto investment schemes, Staking crypto is a professional and easier way to earn interest on your owned crypto assets. Even though it has been popular among the crypto community for a long, not all crypto investment platforms provide the crypto staking feature. Due to it, finding the right staking platform can be extremely challenging and time taking.
But if you read this blog to the last, we ensure that you will have a comprehensive knowledge of the pros and cons of India's five most popular crypto-staking platforms. Furthermore, it will also help you choose the right platform to kickstart crypto staking.
Let's start.
Flitpay
If you are looking for an India-based crypto staking platform, Flitpay is an apt choice. Its clutter-free and beginner-friendly interface makes staking crypto dead easy and quick. All the popular cryptocurrencies are available on it with multiple staking durations. It does not charge any staking fee and all its plans seem to build with the utmost consideration for the users. This crypto investment platform's high and well-regulated interest rates make it stand out among its competitors. It facilitates staking for many top coins like BTC, ETH, DOGE, XRP, and many more. Moreover, its help and support portal gives a personalized experience on every query or doubt.
Binance
Binance is a well-established crypto investment platform. It has a dedicated section of crypto staking for its users. This crypto exchange offers users locked and Defi Staking options with varying APY or interest rates. Though it is known for a vast number of possibilities, Binance offers lower rewards as compared to many other staking platforms. Moreover, a few staking plans of Binance get sold out, which can be a bit disappointing because users have to wait for it to accept staking again. It's not an India-based crypto exchange, so you may face language-centric barriers too.
Kraken
Kraken is a US-based cryptocurrency exchange that offers both on-chain and off-chain staking of crypto assets. If you choose on-chain staking, it will stake your assets with blockchain Proof of Stake protocols, while Off-Chain staking allows you to earn interest on your crypto assets with Kraken internal programs. It offers 13 cryptocurrencies for on-chain staking but only three ( BTC, EUR, and USD) for off-chain staking. Kraken is a good option if you want to participate in on-chain staking, but we will not recommend it for off-chain staking because of limited options.
Coinbase
It is another non-Indian crypto investment platform that offers crypto. But only six proof of stake (PoS) coins, which are Ethereum, Algoland, Cosmos, Tezos, Dai, and Cardano, are available for PoS-based staking. Unlike Flitpay and Binance, Coinbase takes a commission on your rewards. One strong point about Coinbase staking is that its APY is higher than Binance in PoS-based staking.
Crypto.com
Crypto.com is a crypto investment platform that offers to stake your crypto holdings. It gives fixed as well as flexible kinds of crypto staking options, but they are available only on its application. The staking interest rates are also lower because the maximum interest rate it offers for a few crypto holdings is 6% only. Its user interface on the web is complicated and a bit hard to use from per customer's point of view.
The End Note
Crypto staking is an excellent strategy, especially in a bearish market. Choosing the right platform for it is crucial to get the best and most ensured returns. While foreign crypto exchanges offer a wide range of staking plans, they surely miss out on the indigenous trust of an India-based platform like Flitpay. If you are looking for a Bitcoin staking platform, all the above platforms provide it. But in the case of other crypto staking platforms in India, you can compare the APY and other terms and conditions to select the right one.
Author Bio
Naveen Lawaniya
I am a crypto enthusiast and a freelance writer, passionate about blockchain technology and cryptocurrency since college. Bringing my passion into words is what fascinates me the most in writing. I hold 4 years of in-hand writing experience in the crypto niche. Along with creating quality and insightful crypto content for many crypto exchanges, I also have a strong understanding of website designing and editing.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.