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Join date: Oct 6, 2022

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What can I stake?


With the growing popularity of staking, there are many opportunities for users who want to earn passive income with their free crypto assets. We take a quick look at some of the biggest cryptocurrencies offering staking rewards at the moment:

Ethereum 2.0

One of the most popular staking options is Ethereum 2.0 as Ethereum is the second most popular crypto platform. And if you invest in ETH, you can essentially help the system grow if you become one of its first validators.

In order to stake on ETH 2.0, you need to have at least 32 ETH and be an Eth1 mainnet user. Start by switching to the Eth2 Launch Pad. https://redot.com/staking/ offers ETH2 staking with 0.01 ETH minimum investment and no fees.

Of course, if you've been following the rapid development of the DeFi industry in 2020, you know that the main reason for their growth has been the staggering potential for rewards that income farming protocols operating as ERC20 tokens offer investors.





Tezos (XTZ)

Tezos was launched in June 2018 and had the largest Initial Coin Offering (ICO) with an investment of over $230 million. It uses a version of PoS called Liquid Proof-of-Stake (LPoS).

The native currency of Tezos is called XTZ and the process of staking it is called "baking". Bakers are rewarded in native currency. In addition, malicious bakers are punished by having their steak confiscated.

To become a Tezos staker/baker, a user must have 8,000 XTZ coins and operate an entire node. Fortunately, third-party services have emerged that allow small coin holders to provide small amounts of XTZ and thus share the rewards for baking. The annual interest rate for XTZ staking ranges from five to six percent.

Algorand (ALGO)

The main goal of Algorand (ALGO) is to provide low-cost international payments. Being a PoS protocol, the network needs stakers for security and transaction processing. Unlike Tezos, it uses a pure proof-of-stake (PPoS) consensus mechanism. However, stakers still need to keep entire nodes running.

Icon (ICX)

The complex Korean blockchain project Icon (ICX) offers a different platform that was originally created for staking. However, Icon differs from Algorand and Tezos in that it uses a delegated-proof-of stake (DPoS) consensus algorithm.

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