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It goes without saying that Cardano (ADA) is one of the best performing digital currencies of 2021. In fact, the crypto asset has since positioned itself as the third-largest project in terms of market capitalization.
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Entry, take profit & stop loss
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Amount to risk per trade
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With that said, if you’re a long-term Cardano investor, you might be surprised to learn that you can also earn regular interest payments via staking rewards. Put simply, by staking ADA tokens on the Cardano protocol, you will receive your share of any transaction fees that are collected by the network.
In this guide, not only do we review the best Cardano staking platforms for 2021 – but we also explain how you can start earning interest on your ADA tokens today!
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- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
- Buy over 2,400 stocks at 0% commission
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- Deposit funds with a debit/credit card, Paypal, or bank transfer
- Perfect for newbie traders and heavily regulated
Best Cardano Staking Platforms – Top 5 List
If you’re looking to get started with the best Cardano staking platforms in the market right now – check out the list of top-rated providers below.
- eToro: Overall Best Cardano Staking Platform for 2021
- Binance: Competitive Cardano Staking Rates
- Kraken: Easy to Use – Staking Rates of 4-6%
- CEX.io: Useful Calculator to Assess Cardano Staking Rewards
- Crypto.com: Offers Locked and Flexible Staking
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- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
- Buy over 2,400 stocks at 0% commission
- Trade thousands of CFDs
- Deposit funds with a debit/credit card, Paypal, or bank transfer
- Perfect for newbie traders and heavily regulated
How to Start Staking Crypto in Under 5 Minutes
If you don’t have time to read our guide right now – below you will find a quickfire overview of how to get started with a Cardano staking site in under 10 minutes!
- Step 1: Open an Account With eToro – Our research team found that the best Cardano staking site is eToro – a regulated online broker that is home to over 20 million investors. Before you can start staking, you will need to open an account. This should take you no more than five minutes.
- Step 2: Add Cardano – You will need to buy Cardano at eToro if you wish to earn staking rewards. Fortunately, the broker allows you to do this with a debit/credit card or Paypal – and the minimum trade size is just $25.
- Step 3: Earn ADA Staking Rewards – Once you have purchases ADA, there is nothing more for you to do. That is to say, 10 days after making the purchase, eToro will automatically start staking Cardano on your behalf.
The best thing about using eToro as your go-to Cardano staking platform is that your funds are not locked. This means that you can withdraw your ADA tokens whenever you wish.
8cap - Buy and Invest in Assets
- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
- Buy over 2,400 stocks at 0% commission
- Trade thousands of CFDs
- Deposit funds with a debit/credit card, Paypal, or bank transfer
- Perfect for newbie traders and heavily regulated
Best Cardano Staking Platform – List of Cardano Staking Sites
In order to earn interest on your ADA tokens, you will need to choose a suitable Cardano staking platform. Your chosen platform must have a great reputation in this space and preferably – be regulated by a financial body.
You also need to check what Cardano staking rewards are offered in terms of the APY and whether you will be required to lock your ADA tokens away for a minimum number of days.
Taking all of this into account, below you will find a selection of the best Cardano staking platforms in the market right now.
1. eToro – Overall Best Cardano Staking Platform for 2021
After reviewing dozens of providers, we found that eToro is the best Cardano staking platform in the market. The platform - which is used by over 20 million people, is primarily an online brokerage that offers everything from cryptocurrency and stocks to forex and commodities. With that said, eToro has since entered the cryptocurrency staking arena - with the broker offering full support for Cardano.
In order to start staking on the eToro platform, you will first need to open an account by providing your personal information. You will also need to upload a copy of your ID - which will be verified instantly. The reason that eToro requires this is that it is a heavily regulated brokerage site. This includes regulation from the FCA, ASIC, and CySEC - and approval from the SEC and FINRA. In turn, you can be sure that you are using a Cardano staking platform that is safe and secure.
Once your eToro account is open, you will then be required to buy Cardano. eToro allows you to do this at a minimum stake of just $25. Plus, you can easily deposit funds with a debit/credit card, bank account, or Paypal. Fees are super low here too - with eToro charging just 0.5% on deposits and 0% if you're US-based. Trading fees come in the form of the spread - which starts at just 0.75% when buying and selling cryptocurrency.
After you have purchased Cardano, eToro will automatically stake your ADA tokens on your behalf. There is, however, a grace period of 10 days, meaning that you won't actually start earning any staking rewards until the 10th day. This means that the eToro staking facility is best suited for long-term Cardano investors as opposed to short-term speculators. In addition to Cardano, eToro also allows you to stake TRON. Once Ethereum finalizes its 2.0 upgrade, eToro will also support ETH staking.
- Best Cardano staking site in the market
- Earn staking rewards by simply holding a supported coin
- Perfect for newbies and heavily regulated
- Admin and inactivity charge after 12 months no trading
Other Top Cardano Staking Platforms
If eToro doesn’t ‘t quite take your fancy – perhaps because your required staking coin isn’t supported, you might consider an alternative provider.
To help clear the mist, below we review other top Cardano staking platforms that are worth exploring.
Binance
Binance – the world’s largest cryptocurrency exchange in terms of trading volume, now offers a fully-fledged staking facility. The platform supports a relatively good number of staking coins, which includes Cardano. In fact, Binance offers a super-attractive standard annualized interest rate of 21.79%.
Kraken
Kraken is another popular cryptocurrency exchange that offers staking. In addition to Cardano, the platform also supports Polkadot, Kusama, Flow, Cosmos, Tezos, and heaps more. Kraken is arguably best suited to those of you that consider yourself a staking newbie. This is because the platform is very easy on the eye – so beginners should be able to navigate the Kraken staking department without too much difficulty.
With that said, the interest rates on offer are somewhat low – especially compared to eToro. At the time of writing, Kraken is offering an annualized interest rate of just 4-6%. Other staking coins offer a much higher rate, with the likes of Kava and Polkadot paying 20% and 12% respectively.
CEX.io
CEX.io is a user-friendly cryptocurrency exchange that is particularly popular in the UK and Europe. The exchange itself offers reasonable commissions of 0.25% – and heaps of digital tokens are supported. When it comes to staking, CEX.io offers a wide range of coins – including Cardano.
On the one hand, we like the fact that CEX.io offers a simple calculator that allows you to see how much you can earn in Cardano staking rewards. This is displayed on a daily, monthly, and annual basis. However, we should note that Cardano staking will only earn you 2.6% per year at CEX.io – which is very low.
Crypto.com
Crypto.com is a Jack of all Trades in the digital asset arena. Not only does the platform allow you to buy and sell cryptocurrency online, but it also offers a fully-fledged debit card. You will also find a comprehensive staking department that supports lots of different coins.
This includes Cardano, alongside dozen s of other staking projects. In terms of earning rewards, this will depend on one key factor – the length of time you are able to lock your ADA tokens away. For instance, the longest period of 3 months will generate $150 in annual interest for every $5,000 invested. A flexible account, however, will yield just $50 per year.
How to Start Cardano Staking Today – Full Step-by-Step Walkthrough
If you are ready to start staking Cardano right now – this section will walk you through the process step-by-step. For our tutorial, we’ll show you how to get up with eToro – a regulated broker that offers high rewards when staking Cardano.
Step 1: Register and Upload Document
We mentioned earlier that by choosing eToro as your go-to Cardano staking platform – you will be using a brokerage site that is heavily regulated. As a result of this, you will need to open an account by providing some personal information.
This will include:
- Full Name
- Nationality
- Home Address
- Date of Birth
- Mobile Number
- Email Address
You will also need to choose a username and password. Another core requirement of using a regulated broker like eToro is that you need to go through a quick KYC process. This simply requires a copy of your passport or driver’s license. eToro will then verify your document instantly.
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- Minimum deposit of just 250 USD to get lifetime access to all the VIP channels
- Buy over 2,400 stocks at 0% commission
- Trade thousands of CFDs
- Deposit funds with a debit/credit card, Paypal, or bank transfer
- Perfect for newbie traders and heavily regulated
Step 2: Buy Cardano
Now that you are verified, the next step is to buy Cardano. This will then allow you to start earning rewards on your ADA tokens. Before you can do this, you will need to make a deposit. eToro supports debit and credit cards, e-wallets like Paypal and Neteller, and bank transfers.
Once you have made a deposit, you can then search for ‘Cardano’ or ‘ADA’ and click the ‘Trade’ button. Enter the amount of Cardano you would like to buy ($25 minimum) and confirm the order.
Step 3: Start Cardano Staking
eToro doesn’t require you to do anything to start earning Cardano staking rewards. This is because the rewards automatically kick in for as long as you are holding ADA tokens in your portfolio.
However, the ADA staking rewards will not start accumulating until the 10th day. This is to ensure that staking is only undertaken by long-term Cardano investors.
If at any time you wish to sell your Cardano investment, you can do this instantly at eToro. Just head over to your portfolio and click the ‘Sell’ button next to Cardano. eToro will then sell your tokens back to USD – which you can then withdraw.
Best Cardano Staking Platforms: To Conclude
In conclusion, this guide has reviewed the very best Cardano staking platforms in the market right now. We’ve covered a variety of platforms to ensure you choose the right one for your long-term goals.
For instance, while some staking sites pay more attractive interest rates, this might come at the expense of having to lock your ADA tokens away for a minimum period of time. This is why we think that eToro is the best Cardano staking platform – as it offers the perfect balance between earning potential and flexibility.
That is to say, eToro pays an attractive APY on Cardano and you can withdraw your tokens at any given time. Most importantly, eToro is heavily regulated – so you don’t need to worry about the safety of your tokens.
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