Cryptocurrencies have revolutionized the world monetarily. And just like with physical cash, the crypto industry also has a large number of ways for earning, investing, trading with output in the form of a maximum profit ratio. One of which is staking cryptocurrency, which has ultimately become a prominent and trending way for earning the “interest income,” which has captivated the attention of the crypto investors to earn a reasonable amount of profit via holding their online assets.
The core concern of this detailed article is to enlighten and familiarize the people with the staking concept. You would find this article as the best, relevant, informatory, and comprehensive guide to understand the operational activity of the staking as a service provided in 2021.
I am going to start from the basics supported by the valid and logical connectors, which will explain the phenomena that how staking-as-a-service platforms actually operate and help the crypto investors that how interest money can be earned via using the staking-as-a-service platform. Later on, I’ll discuss the 15 top-ranking platforms having a good reputation in the crypto market. First things come first. The main question arises here for the novice in the market that what is basically staking? How does it work? And can be we benefitted by this platform. I’ll begin with the primary question by spreading the contextual information regarding the first question.
How can Staking be defined?
The literal meaning of staking is to hold or to gamble for earning. While in the crypto world, staking is best defined as locking up the digital assets by means of staking them in a secure blockchain network. Customers who stake their financial assets on a specified network to aid in securing the network ultimately get back the newly minted coins as a reward against the amount of staking.
You may get insecure by the idea of staking as sometimes customers think that it might be a little resource-intensive against mining. Staking involves the idea of holding or keeping a cryptocurrency wallet to secure and support blockchain network operations. In layman concepts, staking is best defined as putting your digital currency on hold or as locking up for the sake of interest money as a reward.
Staking is the essential element of the Proof-of-Stake (POS) consent phenomena. In Proof-of-Stake (POS) phenomena, participants are required to put their digital assets at stake by means of random selection, keeping in mind the size or stake bulk to be measured in the form of token counting, which is basically facilitated to the clients.
With the passage of time, everything gets updated and gets more advanced from the predecessors. The same case is here. The consensus algorithm of the Proof-of-Work (POW) has got more fame because of Bitcoin (BTC), as Proof-of-Stake (POS) doesn’t need instrumentation to generate energy-intense calculations for the sake of solving the puzzle.
This leads to optimistic outputs that proof-of-Stake (POS) is considered to be the millennium and standards for consensus protocols in the near future as it is more customers oriented and alternative environment-friendly.
Basics of Staking-as-a-Service Platform
Due to the ease of staking in the current era by means of staking platforms, customers have become capable of staking their Proof-of-Stake digital assets by means of 3rd party, which ensures the technical safety of the staking process by different angles. It is to note that for the staking process, the platform collects some fees, and mostly it is the percentage of staking reward.
To take part in the staking economy is very easy; it is quite simple. Even novice or those people who do not know technicalities can take part in it. The purpose of this step is to let everybody get benefitted in terms of possible profit ratio.
Technically staking comes with the less problematic hurdles in the way of those who need to earn a profit ratio. The platform’s barriers are so lower, so everyone can earn profit easily by depositing digital assets for the sake of stake in the Proof-of-Stake (PoS) network. The services of the third party are always preferred as soft-staking.
Moreover, when we talk about the reliable staking-as-a-service platform of pure staking, we’ll come to know that numerous leading exchanges are already working in the industry, which has also launched exchange staking in the staking services.
It is profitable for investors by putting their financial assets in the staking platform by leaving their Proof-of-Stake digital stakable assets in the particular trading wallets as for doing so. They would get interest profit in the form of fresh tokens as a reward. The process of the technical side is handled by exchange, and for their services, they also collect a minimal percentage which is a little fee.
List of trending Staking-as-a-service Providers in 2021
For your assistance to select and to proceed with the reliable and potential service provider, here is the list of top 15 trending and well-reputed Staking-as-a-Service platforms which can entertain with the reasonable secured interest profit on the staked amount as a reward.
Here is our recommended list of top trending staking platforms leading to crypto exchanges integrated with the staking facility as well. These platforms are arranged as per the ranking according to the market and acknowledged as the best platforms for staking services, which are explained below from top to bottom.
Figment Network is a Canadian Staking platform as a service provider based in Canada that offers not only staking but also tools, organizational infrastructure, and software for the customers holding the digital assets.
Figment Networks was founded in 2019 and is considered to be one of the most reliable, dependable, and trusted software as a service provider in the crypto industry. The company has a diverse range of staked digital assets like Tezos, Cosmos, Kava, Terra, ICON, Livepeer, IRISnet, AION, Harmony, Algorand, Horizen, etc.
This platform is supported by 24/7 customer support service along with three different web protocols via telegram, telecommunication, and email for security concerns. Clients can start using this platform with the staking fee from 0% to 15% and can view the transactions and also track the performance record.
MyCointainer is a provider of staking-as-a-service administered in Estonia that lets investors for soft staking with a broader range of Proof-of-Stake (PoS) tokens via the convenient online platform. MyCointainer is a complex platform offering not only staking of the digital assets but also buying, investing, and selling of cryptocurrency. MyCointainer was founded in 2019 and is offering stake over more than 50 Proof-of-Stake (PoS) based digital tokens by means of web-based platforms. A few of which are Bitbay (Bay), Phore (PHR), Wagerr (WGR), Pinkcoin (PINK), Blackcoin (CLOAK), OKCash (OK), NavCoin (NAV), Particl (PART), PIVX (PIVX), and with other many coins. This staking platform can be availed and utilized with the staking fee ranging from 0% to 28% with the complimentary facilities provided at the backend.
Stake Capital is based in France, providing the services and online digital assets on the top of the list of leading staking networks and Decentralized Finance (DeFi). Stake Capital was founded in 2019, and basically, it is a DeFi company that offers stake over Cosmos (ATOM), Loom Network (LOOM), Tezos (XTZ), Aion (AION), Livepeer (LPT), and many more in the queue to appear in the market.
Stake Capital consumes the hardware security module (HSM) for signing offline transactions. It comes with a very affordable staking fee ranging from 0% to 10%. Clients are being facilitated with live support for their ease and the staking process.
South Korean staking platform known as Stake.Fish is dominating as a stake-as-a-Service platform which allows the customers to soft stake a lot of distinctive stakable assets. Stake.Fish entertains the customers to stake different cryptocurrencies like Solana (SOL), Aion (AION), Livepeer (LPT), Alogrand (ALGO), Cardano (ADA), and Kava (KAVA).
Staking fee of Stake.Fish depends upon the crypto assets you put at stake. Usually, the staking fee ranges from 0% to 20%. Assets are being kept at stake for the favor of investors as the platform is secured by means of collective security features.
Staked is based in New York, which aids the organizational investors with security and reliability by means of 5% to 100% crypto annual return via lending and staking. It was founded and operationalized in 2019, and since then, it has been staking over Livepeer (LPT), Tezos (XTZ), Cosmos (ATOM), and Decred (DCR).
Staked charges a 0% to 54% staking fee for which it provides staking services along with the scheduled call for customer support services. Staked utilizes the secured staking services, and it doesn’t nominate regulatory compliance.
Stakinglab is a leading European staking-as-a-service provider based in Germany. It facilitates its customers with host masternodes and soft stakes for online stakable financial assets with diversity. It was founded in 2019 and working on stakable assets like PIVX (PIVX), Reddcoin (RDD), Phore (PHR), and few other ones.
It is a customer’s friendly staking platform supported by customer support services. The staking fee of this SaaS platform is of a very minimal amount and affordable, which is only 7.5%.
Staking Facilities is a German-based enterprise that validates the infrastructure of blockchain clients who are intended to earn interest profit on their crypto assets by means of PoS staking. Staking Facilities was established in 2019, and since it got operationalized, it’s been offering staking services for various stakable assets of which are Cosmos (ATOM), Aion (AION), Tezos (XTZ ), and few others of unique range.
This facility is supported by 24/7 customer support services which don’t only concerned about the staking operations but also for the interest ratio in favor of the client. The staking fee of the utilization of the Staking Facilities is ranging from 5% to 20%.
Singapore-based staking-as-a-service platform, Stakewith.us, lets the customers stake their digital assets to yield staking rewards by means of a self-service interface. It was established in February 2019 and started staking with the stakable assets like Cosmos (ATOM), Terra (LUNA), Kyber Network (KNC), Kava (KAVA), IOV (IOV), and Band Protocol (BAND).
Stakewith.us comes with a very affordable staking fee of 10% and facilitates its clients in distinguished ways with support at the back end. This staking platform has earned more than $30 million worth of assets.
P2P Validator is based in George, facilitating its clients by allowing them to utilize a wide range crossing 25 networks for staking their digital assets. This company is a non-custodial staking platform that was founded in 2018 and took the initiative to stake the assets like Polkadot (DOT), Cosmos (ATOM), Ethereum (ETH), Tezos (XTZ), Cardano (ADA), Marlin (POUND) and other wide range of online digital assets.
P2P validator aids the clients by compounding their crypto investments and by taking part in the staking. The company offers security and highly available and non-custodial staking with an appropriate staking fee which ranges from 3% to 15%.
Dokia Capital, based in Bucharest, is the leading SaaS provider that grants the customers to delegate the digital assets from their wallet to start earning the interest profit in the form of staking rewards. Dokia Capital was founded in 2019, and it deals with stakable assets like Terra (LUNA), NEAR Protocol (NEAR), Cosmos (ATOM), IRISnet (IRIS), Solana (SOL), and few other tokens.
Dokia Capital works 99.9% with guaranteed availability. It is Tier3 certified. This company decentralizes its infrastructure in order to mitigate the risks. It also regulates private sacks along with 24/7 customer support for the ease and reliability of the clients. This facility can be gained with a staking fee of 5% to 15%.
Best Cryptocurrency Exchanges Offering Users Exchange Staking
Binance is negotiably the leading and prominent crypto-asset exchange spread around the world. Binance is based in Malta and has managed to earn a good reputation in the industry available for the traders as one of the best trading platforms.
The company is also offering exchange staking for a bigger number of cryptocurrencies which includes BNB, along with the inauguration of its two other blockchains – Binance Smart Chain (BSC) and Binance Chain. Currently, Binance is offering three types of staking, which include DeFi staking, flexible staking, and locked staking. In Locked Staking, customer’s assets are being locked up for a certain time which results in the interest profit, and secondly, staking in the Decentralized Finance (DeFi).
Binance was originally founded in 2017 and got a good reputation in no time. This company costs no staking fee at all and allows staking for demanding assets like Binance Coin (BNB), Tether (USDT), SushiSwap (SUSHI), Dai (DAI), and many more along with Bitcoin (BTC).
Coinbase is acknowledged as one of the biggest digital currency exchanges across the world. This company offers different services like wallet, exchange, investing platform, educating platform, and significantly Staking-as-a-service (SaaS) as well. This provider facilitates by offering crypto assets for organizations and even supports the tokens like Tezos (XTZ).
Currently, Coinbase is offering its customers to stake just three assets in terms of keeping them safe in their respective Coinbase wallets and put all other stable assets on the waiting list till the company expands its service as it is doing since the inauguration in 2011. Right now, Coinbase is offering to stake the three stakable assets, which are Cosmos (ATOM), Tezos (XTZ), and Ethereum (ETH).
Coinbase is offering its staking service for utilization on behalf of just a 20% to 25% staking fee. You also get different services such as customer support, guidance, and updates as complimentary and ensure the interest profit for the customers.
When you talk about the exchange staking pioneer, KuCoin is the company that comes first in the crypto industry. KuCoin is based in Singapore and is acknowledged as the founding platform that introduced soft staking in 2019.
Customers can stake a wide list of digital assets at this platform, even those which are not available on many other well-reputed platforms. The staking fee of this company is 5% to 10% only.
KuCoin was founded in 2013, and since then, it’s been flourishing day by day and currently offering stake at the following stakable assets like the Internet of Services (IOST), PIVX (PIVX), Loki (LOKI), Tezos (XTZ), EOS (EOS), TomoChain (TOMO), NULS (NULS), DeepOnion (ONION), Wanchain (WAN), V Systems (VSYS), Cosmos (ATOM), Loom Network (LOOM), Energi (NRG), Neblio (NEBL), Tron (TRX), Algorand (ALGO) and Aion (AION) and few others.
Kraken is Francisco based company, and it is one of the best established and reliable exchanges around the world when it comes to cryptocurrencies. A lot of leading altcoins are being offered on this platform, and no doubt, this exchange is considered to be the popular and admired platform in the market for both professional and retail traders from the last decade. Kraken initially offered staking service just for Tezos (XTZ), and it got itself involved in the staking exchange since 2019. Now, it is providing staking services for KAVA (KAVA), Tezos (XTZ), Ethereum (ETH), and Cosmos (ATOM).
This company offers its staking service over a 15% staking fee supported by academics, updates, and customer support services.
Poloniex is considered to be an established exchange that gained a good reputation due to its secure and reliable services. It doesn’t only entertain the professional traders but also provides services to novice customers in a secure way.
It was founded in 2014 and currently offering SaaS services for stakable assets like Cosmos (ATOM), WINk (WIN), Tron (TRX), BitTorrent (BTT), and Tenders (TEND). Poloniex can be utilized for staking purposes with a staking fee of 0% to 25.
Since staking is one of the best and efficient ways of earning profits by holding your digital assets, many users in the cryptocurrency world like to get benefit by staking their cryptocurrencies. Some of them look for the best staking platforms that offer staking services. I have added as many good Staking-as-a-Service platforms as I could to my list. You can have a look at them and see which is the one you want to use for staking your coins.