Staking cryptocurrencies are now becoming very popular amongst investors.
One of the major reason is because individuals can use this method of earning with crypto, to make money passively.
Staking different crypto-coins to earn passive income is quite easy, but you just have to be doing it with precautions.
If you’re still new to crypto staking, please go and read my guide on cryptocurrency staking and how it works.
The easiest side of staking is that, crypto investors can hold cryptocurrencies in designated wallets, to take an active part in the staking pools.
While this is happening as a part of staking pools, some wallets can easily add your coins for staking.
In this guide, am going to show you some of the best wallet for staking cryptocurrencies both online and offline.
Best staking wallets
Here are some of the top staking wallets, which you can use to stake coins and earn stable income passively.
1. Ledger hardware wallets (Recommended)
Ledger wallets are the best cold wallet for staking and storing cryptocurrency. And also, it allows you to stake more than 10 coins securely.
You can stake coins either using Ledger Live, the desktop application or through the Ledger USB wallet device.
However, Ledger Live is only compatible with Tezos (XTZ)) and for other coins, you’ll need your Ledger device with third-party apps.
Unlike other exchange wallets which offer limited control and transparency, Ledger offers users more control over the staking.
Personally, I would recommend using Ledger Nano X, as it’s one of the latest wallets they have produced.
To learn more about this crypto wallet, read my detail Ledger Nano X hardware wallet review.
By using Ledger Live, you can select validators from a list based on their preferences, and continue to process transactions right away.
2. Trust mobile software wallet
Trust mobile wallet app is a staking and governance platform for token-based communities.
Its primary aim is to make the staking economy more accessible, and become a one-stop solution for the new decentralized financial world.
Currently, the Trust wallet supports staking coins like; VeChain (VET), TRON (TRX), Callisto (CLO), TomoChain (TOMO), Tezos (XTX), Cosmos (ATOM), IoTeX (IOTX), and Algorand (ALGO).
3. Binance exchange wallet
Binance recently launched a dedicated staking platform that allows users to deposit PoS (i.e. Proof-of-Stake) coins and earn rewards.
This exchange offers the simplest way to stake and earn rewards. Read my review on Binance exchange.
The main advantage of using Binance exchange for staking is, you can start staking without having to set up their nodes.
The users can simply earn rewards from the supported coins, just by holding the crypto-coins in their Binance account wallet.
To make staking attractive with Binance, it offers additional promotional rewards to users and also doesn’t charge any fee on any staking operations.
Also, Binance allows you to trade against your staked coins, and the coin balance and reward will get adjusted accordingly.
Currently, it offers to stake in all major PoS coins including TRON, NEO, ATOM, Tezos, Algorand, QTUM, Stratis, Stellar, Ontology, etc.
Stakebox is a bit different kind of device, but more designated for staking specific crypto-coins in offline mode.
This dedicated device offers customized cryptocurrency Raspberry Pi for staking crypto-coins.
In short, it’s a coin specific staking device with the flexibility to use as per your convenience, and without the need to connect it to your PC or MAC.
Stakebox devices has low energy consumption, which makes it suitable for running 24/7, thus making the process more profitable.
It’s also very easy to use and operate, with minimal human interference!
It offers support for 17 coins including; QTUM, Reddcoin, PIVX, CloakCoin, BitBay, Pinkcoin, Whitecoin, Denarius, etc.
Here are my answers to some of the frequently asked questions you’ll see people asking about the best crypto wallet for staking cryptocurrencies.
Best staking wallets
Crypto mining and staking are both essential for maintaining operational stability of different blockchains.
Staking cryptocurrencies is surely way better and safer than cloud mining cryptocurrencies for passive income.
If you are wondering why am bullish with crypto staking, you have to read my reasons on why cloud mining is no longer profitable.
Although many wallets support staking PoS coins, the discussed wallets and device offer the best security with great functionalities.
If you are a beginner in staking, then the Binance exchange should be the best option.
On the flip side, if you’re an advanced investor and want a wallet, then don’t overlook Ledger Wallets.