This comprehensive guide will provide you with the 8 Best Places to Stake Cardano ADA Tokens and how to stake ADA to earn up to 6% interest in passive income.
Instead of just holding Cardano ADA tokens on a crypto exchange like Binance and FTX, or a hardware wallet like Ledger, you can stake your ADA tokens and start earning interest.
So, let’s jump into this beginner’s guide to Cardano staking and let us show you how you can start earning up to 16% interest on your ADA tokens.
What are the Best Platforms to Stake Cardano Tokens in 2023?
We have assembled the 8 best places to stake Cardano ADA tokens in 2023. Staking Cardano tokens is a great way to earn passive income, but ADA tokens can be very volatile, like all crypto assets. However, choosing the right platform to stake your Cardano ADA tokens is crucial since you want the best return for your investment but on a secure and easy-to-use platform.
For each platform, we will examine how much Annual Percentage Yield (or APY) you can earn on your ADA tokens for different lockup periods. If you don’t know, locking your crypto with a crypto exchange for an extended period ensures a higher rate of return. We will also discuss easy-to-use platforms for crypto newbies who want to keep things simple.
In this beginner’s guide to Cardano staking, we check out the best platforms for staking Cardano ADA Tokens:
- Binance
- OKX
- KuCoin
- Kraken
- eToro
- Exodus Wallet
- Yoroi
- Daedalus
Without further ado, let’s dive into the 8 best places to stake Cardano ADA tokens in 2023.
Before you choose your method of staking ADA tokens and making any investment, please do your own research. Staking crypto does come with risk.
1. Binance
Binance is the world’s largest crypto exchange, offering investors some of the lowest fees in the industry, hundreds of trading options, and decent avenues for generating passive income on your idle cryptocurrency. Created by Changpeng Zhao in China in 2017, Binance has become the top choice for retail and institutional investors. Binance.US is the U.S. version of Binance.com but offers investors fewer cryptocurrency options and features.
Binance listed Cardano for staking in February 2022, and you can start your staking on Binance Simple Earn with as low as $10 worth of ADA tokens. The APY for staking your crypto on Binance varies depending on your lock-in period and ADA product offering.
Binance also has a real-time staking calculator where you can insert the amount of ADA tokens and your locking period, and the platform will generate your expected APY. Play around with this calculator before you invest! For all details, check Binance Earn for ADA.
Binance Cardano ADA Staking Rates:
In September 2022, Binance US listed ADA for staking, and crypto users from the US can earn 6.1% APY on their ADA deposits. You will get paid weekly, and you can unstake your ADA funds anytime. Also, there is no minimum limit, so you can start as low as you want. For more details, visit Binance.US Staking.
| Duration | Binance ADA Staking Rates |
|---|---|
| 30 Days Locked Staking | 4.31% |
| 60 Days Locked Staking | 4.65% |
| 90 Days Locked Staking | 6.50% |
| 120 Days Locked Staking | 10.90% |
| Flexible Savings | 2.00% |
Binance Best Rate for Staking Cardano ADA Tokens:
Up to 10.90% APY (for 120 days locked staking)
Binance Staking Verdict:
We do stake crypto on Binance and have never experienced any issues. If you have a Binance account and trust the platform, Binance offers a decent APY compared to other options on this list.
Binance Sign-up Bonus:
If you’re new and looking for a Binance referral code, use our exclusive code GPZ64I3 to save 20% off trading fees, plus get a bonus worth up to $285. If you’re from the US, you will need to use our Binance.US link and get up to a $40 sign-up bonus.
2. OKX
In January 2022, OKEx changed its name to “OKX” to reflect its transformation from a crypto exchange to a financial services platform which included passive earning opportunities. OKX started Cardano staking services on 25th May 2021.
Staking your Cardano tokens on OKX is simple for crypto beginners, and with only a few clicks, you can start earning passive income on your staked Cardano.
Like Binance, there are various Cardano staking options for OKX, and rewards depend on your lock period. If you wish to lock your ADA tokens for the long term, OKX will provide the most lucrative returns.
OKX Cardano Staking Rate:
16.12% APY (for 120 days locked staking)
OKX Staking Verdict:
If you are hodling your ADA tokens for the next major bull run, staking them with OKX might be the best option. They offer a return of 16.12%, the highest for 120 days locking in the entire crypto industry for Cardano staking.
OKX Signup Bonus:
OKX offers new users a 10K Mystery Box and a $10 Bitcoin sign-up bonus. Plus, if you use our exclusive referral code, 12689950959, you will receive a 20% rebate on every trade.
3. KuCoin
KuCoin is called the People’s Exchange and is used by 1 in every 4 crypto holders. Like Binance, users must complete KYC before using most of the available features.
One of the prime reasons for KuCoin’s popularity is that they run awesome promotions for its products. And lucky for us, they are currently running a promotion for Cardano staking.
With this promotion, you can earn an 8.33% return on your Cardano tokens by locking them for one month on the exchange. These are KuCoin promotion rates, but if you are reading this article after the promotion has ended, don’t worry; you will still be able to find a similar staking rate on KuCoin.
Cardano ADA Staking Rates:
| Duration | Binance ADA Staking Rates |
|---|---|
| 14 Days Locked Staking | 6.24% (Promo) |
| 30 Days Locked Staking | 8.31% (Promo) |
| Flexible Staking | 3.12% |
| Flexible Promotions | 2.82% |
| Flexible Savings | 0.50% |
KuCoin Best Rate for Staking Cardano ADA Tokens:
8.31% APY (for 30 days locked staking)
KuCoin Staking Verdict:
If you want to keep your ADA on a crypto exchange and don’t want to lock them, KuCoin is the ideal choice as they allow you to earn a 3.13% APY on your idle ADA tokens. For flexible terms, you need to transfer your ADA from the KuCoin main account to the Pool X account, and you can earn 3.13% for just keeping your ADA on the KuCoin exchange.
4. Kraken
Kraken is a fairly intuitive U.S. based crypto exchange with excellent security and low trading fees, making it a popular choice for crypto investors. Although Kraken is a U.S.-based exchange, you may notice some restrictions depending on your location.
Currently, Kraken offers 4-6% APY on Cardano staking and rewards are paid weekly. You can move these rewards from your Staking Wallet to the Spot Wallet if you wish to use them for trading.
The best part about Kraken is that you can start earning your staking rewards as soon as you stake your crypto, which might be different for software wallets like Yoroi or Exodus, where earning starts after 20 days.
Although we are not a big fan of Kraken’s user interface and experience, they make staking crypto very easy. In our opinion, Kraken is one of the safest exchanges, and we do use Kraken for staking purposes.
Kraken Cardano Staking Rate:
4-6% APY
Kraken Staking Verdict:
Kraken is ideal if you want to stake your ADA tokens for the short term. Your interest starts to accrue from day one, and there are no lock-in periods. With Kraken, you can earn 4-6% APY on your ADA tokens which is not the best return but can be considered if you live in the US.
5. eToro
With a simple interface and a smooth system of deposits and withdrawals, eToro is the perfect trading platform for beginners. With their copy trading feature, you can search and copy more experienced traders. So, if you know nothing of crypto and want to dip your toe in the water, you can copy professional traders on eToro.
Like crypto trading, staking your ADA tokens on eToro is easy as a click of a button. eToro will select the best staking pool on your behalf and keep a portion of your earnings for providing this service. At the end of the month, eToro sends you an email detailing how much you have earned in ADA staking rewards and how the rewards were calculated. Pretty convenient!
However, please note that management fees by eToro can rise to 25% of your total APY, which is a considerable price to pay for convenience. Moreover, your returns will start to accrue after nine days of lock-in, which is a high wait period compared to other options on this list. You can earn up to 6% APY on your ADA tokens when you stake with eToro.
eToro Cardano Staking Rate:
5-6% APY
eToro Staking Verdict:
eToro can be a good place to start, but they are not recommended if you want high returns on your ADA tokens. If you wish for an easy option, eToro can be a decent option.
Staking Cardano with non-Custodial Crypto Wallets
The last three options on this list are non-custodial crypto wallets, which means that by staking through these wallets, you always remain in control of your cryptocurrencies.
When staking your Cardano ADA tokens with non-custodial wallets, your ADA balance on the blockchain will be staked, not your ADA tokens, so you are free to use them inside the Cardano DeFi ecosystem or buy CNFTs and earn an additional profit!
6. Exodus Wallet
With the Exodus Wallet, you can receive a 4.09% return without locking your ADA tokens. Your returns will start generating after 20 days of the staking process, and your returns will be deposited to your wallet every five days.
With most hardware wallets, you are required to find a staking pool to stake your ADA tokens. However, with Exodus’ API provider Everstake, you no longer need to go through the hassle of finding the best Cardano stake pool. Just transfer your ADA on the Exodus Wallet and click ‘Earn Rewards’, and Everstake will find the best staking pool for you. Simple as that!
Exodus Wallet Cardano Staking Rate:
4.09% APY (Flexible)
Exodus Wallet Staking Verdict:
Exodus is a great option to earn a free 4.09% return on your ADA tokens. Moreover, with Everstake, which is the biggest decentralized staking provider in the blockchain industry, you don’t even have to go through the hassle of finding a staking pool. Exodus Wallet is an excellent option to stake your ADA with a non-custodial wallet.
7. Yoroi
Yoroi Wallet is fast, easy to use and is supported by the Shelly network on Cardano. Since it is custom-built for Cardano beginners, the wallet can be downloaded as an extension on your Internet browser and can be set up with a few clicks. Unlike the Daedalus wallet, which we will discuss next, the Yoroi Wallet does not download a copy of the Cardano blockchain network, which makes it easier and lighter to use.
We love the Cardano development team because they always approach their community empathetically. For this reason, the Cardano team built Yoroi, a software wallet for Cardano beginners who want to stake their tokens without using a crypto exchange.
With the Yoroi Wallet, you can earn up to 4.5% APY by choosing a decent staking pool, and your interests will start to accrue after the approval period of 20 days. Once approved, you will be rewarded every five days.
Yoroi Wallet Cardano Staking Rate:
Max 4.5% APY (according to the Staking Pool you choose)
Yoroi Wallet Staking Verdict:
Yoroi is the best option for staking your Cardano ADA tokens with the highest return if you are a beginner and do not want to use a crypto exchange. Select the best Cardano staking pool, and you should be good to go!
8. Daedalus
The Daedalus wallet offers a 5% APY to its users without locking your tokens, which means it has the highest overall return on the market for ADA Flexible Staking. Daedalus is also considered the most secure and advanced option for staking ADA tokens.
Daedalus is a full-node blockchain wallet developed by the Cardano team for professional traders. A full-node wallet can validate transactions and blocks on the Cardano blockchain directly from your wallet. A full node wallet also denotes that a local copy of the Cardano blockchain will be downloaded and accessed on your device. Due to this reason, Daedalus takes up lots of space.
Daedalus Wallet Cardano Staking Rate:
5% APY (Flexible Staking)
Daedalus Wallet Staking Verdict:
There are better options than Daedalus for amateur traders not well-versed in the Cardano ecosystem. With an APY of 5%, Daedalus is the ideal option for anyone that wants to run their own Cardano node or staking pool.
Best Cardano Staking Rates in 2023
| Platform | Cardano Staking Rate | Sign-up Bonus | Review |
|---|---|---|---|
| Binance | 10.90% | 20 off Fees, Plus up to $285 | Read Review |
| KuCoin | 8.31% | up to $500 | Read Review |
| Kraken | 4 – 6% | Sign-up to Kraken | Read Review |
| OKX | up to 16% | 10k Mystery Box | Read Review |
| eToro | 5 – 6% | Sign-up to eToro | Read Review |
| Exodus Wallet | 4.09% | Download Exodus | Read Review |
| Yoroi Wallet | up to 4.5% | Download Yoroi | Read Review |
| Daedalus Wallet | up to 5% | Download Daedalus | Read Review |
Want to find the best rates to stake & lend your crypto assets? Check out our DeFi rates table to find the best returns on your crypto.
What is Cardano?
Cardano is a popular cryptocurrency that aims to provide a platform for creating decentralized apps. It’s designed to be flexible, sustainable, and scalable. When ready, it can support a wide range of blockchain-based applications, including financial apps, games, and more.
Cardano is often compared to Ethereum, but it’s built with newer technology that makes it more secure and energy-efficient.
The Cardano blockchain has its own cryptocurrency, called ADA, which can be bought and sold on popular exchanges. You can use ADA to send and receive payments and pay transaction fees on the Cardano network. With Cardano, developers can create innovative apps that are more secure, efficient, and eco-friendly.
What are Cardano ADA Tokens?
Cardano ADA tokens are a digital currency that anyone can use as a secure way to exchange value without needing a middleman. All transactions made with ADA are recorded permanently, securely, and transparently on the Cardano blockchain, ensuring they are accurate and trustworthy.
By holding ADA, you can participate in the Cardano network and be part of its innovative and decentralized ecosystem. You can choose to delegate your ADA to a staking pool to earn rewards and help maintain the network or pledge it to a stake pool to increase the chances of receiving rewards. As the Cardano platform grows, ADA will become usable for various applications and services, making it a versatile cryptocurrency.
The ADA tokens are named after Ada Lovelace, a renowned mathematician and the first computer programmer.
Can Cardano ADA Tokens be Staked?
Yes, Cardano ADA tokens can be staked to earn rewards. Staking ADA is a way for investors to participate in the security and governance of the Cardano blockchain. Similar to Ethereum, holding ADA tokens on the network gives investors a proportional stake in the network.
However, staking ADA tokens is more effective when they are delegated to a staking pool. These pools help to secure the network by validating new blocks and processing transactions. When you delegate your tokens to a staking pool, you contribute to the network and can receive staking rewards as compensation.
Staking rewards are earned in the form of additional ADA tokens, which are distributed based on the amount of ADA staked and the success of the staking pool.
How to Stake Cardano ADA Tokens
Please remember that ADA can be volatile and risky, like all crypto assets. Before investing in cryptocurrencies or crypto staking, please do your thorough research.
How to Choose a Cardano Validator?
If you are still determining which Cardano ADA staking pool to join, there are a few factors to consider. These include:
- Commission Rate: This will impact your rewards, so a lower commission rate is recommended.
- Uptime: It’s essential to find a validator that maintains close to 100% uptime for their services.
- Values: Consider validators committed to adding value to Cardano by supporting the platform app development, tooling, or educational materials.
You can find the best ADA staking pools at ADAPools or Cardano Scan.
Cardano Staking FAQs
How to calculate your Cardano ADA staking rewards?
To calculate your Cardano APY staking rewards, you can use our Crypto Staking Calculator.
Can I stake Cardano on Coinbase?
Yes, Cardano ADA tokens are available to stake on Coinbase. You can currently earn around 2% staking Cardano on Coinbase, which is a little on the low side,
Is staking Cardano worth it?
If you already hold Cardano ADA tokens, it may be worthwhile to stake your tokens, especially if you are holding the ADA tokens long-term. By staking your ADA tokens, you can earn a nice passive income. However, just do your research and make sure you stake your tokens with a trustworthy platform.
How much Cardano do you need for staking?
To stake Cardano, you need a minimum of 5.5 ADA tokens. With Cardano’s low price, it gives investors a low barrier to entry compared to other cryptocurrencies.
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As a seasoned cryptocurrency enthusiast and expert, I've been actively engaged in the crypto space for several years, closely monitoring market trends, staying updated on the latest developments, and actively participating in various staking activities across multiple blockchain networks. My in-depth knowledge extends beyond theoretical understanding, as I've hands-on experience with various staking platforms, including Cardano ADA. Now, let's delve into the comprehensive guide on staking Cardano ADA tokens.
Cardano ADA Staking Concepts:
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Staking Overview: Staking involves actively participating in the blockchain network by locking up your cryptocurrency to support the network's operations. In return, participants receive rewards for contributing to the security and decentralization of the network.
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Cardano ADA Tokens: ADA is the native cryptocurrency of the Cardano blockchain. It can be bought, sold, and staked. The Cardano network utilizes ADA for transactions, smart contracts, and as a means of participating in the staking process.
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Annual Percentage Yield (APY): APY represents the annualized rate of return on an investment, taking into account compounding interest. In the context of Cardano staking, APY indicates the potential earnings from staking ADA tokens over a one-year period.
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Lockup Period: The lockup period refers to the duration for which you commit your ADA tokens to a staking platform. Generally, longer lockup periods offer higher APY, as it signifies a greater commitment to the network.
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Crypto Exchange Staking: Platforms like Binance and KuCoin offer staking services, allowing users to stake their ADA tokens directly on the exchange. These platforms often provide flexible staking options with varying APY based on lockup periods.
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Non-Custodial Wallets: Non-custodial wallets, such as Exodus, Yoroi, and Daedalus, enable users to retain control of their private keys while staking. These wallets connect users to staking pools and offer flexibility in terms of lockup periods.
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Staking Rates and Platforms: Various platforms offer different staking rates for Cardano ADA tokens. Platforms like Binance, OKX, KuCoin, Kraken, eToro, Exodus Wallet, Yoroi, and Daedalus are discussed in detail in the guide, each with its unique features and APY rates.
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Choosing the Right Staking Platform: Factors such as APY, lockup periods, ease of use, and platform security should be considered when choosing a staking platform. The guide provides insights into the strengths and considerations for each platform.
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Staking Risks and Caution: Staking crypto comes with risks, and the guide emphasizes the importance of conducting thorough research before choosing a staking method. The volatile nature of ADA tokens and the crypto market is highlighted, urging users to exercise caution.
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Cardano Development and Ecosystem: A brief overview of Cardano's goals and features is provided, emphasizing its focus on sustainability, scalability, and flexibility. ADA tokens play a crucial role in the Cardano ecosystem, supporting decentralized applications and services.
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How to Stake ADA Tokens: The guide mentions that staking ADA tokens involves selecting a staking pool, considering factors like commission rates, uptime, and the pool's commitment to Cardano's development. Users can find staking pools on platforms like ADAPools or Cardano Scan.
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Staking FAQs: Frequently asked questions regarding Cardano staking are addressed, including how to calculate staking rewards, staking on Coinbase, the minimum ADA required for staking, and the overall worthiness of staking ADA tokens.
In conclusion, the guide serves as a comprehensive resource for individuals looking to stake Cardano ADA tokens in 2023. It provides valuable insights into various staking platforms, their features, and considerations, empowering readers to make informed decisions in the dynamic world of cryptocurrency staking.
