Binance makes it easy to stake and offers some of the highest yields on the market, meaning there are plenty of passive income opportunities available on the platform.
We’ve compiled the best coins to stake on Binance right now, as well as a quick guide on how to start earning interest on your coins.
How to Stake on Binance in 3 Simple Steps
Staking on Binance is simple, meaning you can put your crypto to work and start earning passive income in just a few minutes. Here are the steps you need to take.
1. Sign up and fund your account. Register for a Binance account and verify your identity by uploading some photo ID and proof of address. Next, make a deposit using your preferred payment method.
2. Buy the coin you want to stake. Search for your chosen coin in the ‘Markets’ section. Enter the amount you wish to buy and complete the trade.
3. Stake your tokens. In the ‘Earn’ section of the site, select ‘Staking’. Search for your chosen coin and select a staking period—the longer you stake, the higher the returns.
Now you know how to get started, take a look at our top picks for staking on Binance.
1. Solana (SOL)
Binance currently offers yields way above the market rate for Solana stakers. Locking up SOL for 30 days will give you an annualised return of 9.28%, and stakers can get as much as 13.21% with a 90-day lock up period.
Solana has often outshone Bitcoin and Ethereum in this bull run, and with SOL currently in a dip, investors who buy now could benefit from both staking yields and further price surges.
You can buy and stake Solana on Binance now, or alternatively, check out our in-depth Solana buying guide.
2. Terra (LUNA)
Terra stakers can earn an APY of 18.29% if they lock up their LUNA for 90 days. This makes LUNA staking on Binance one of the most lucrative passive income options across all mainstream coins.
Annualised returns of nearly 20% are extremely rare for a coin in the top ten, so passive income hunters will want to consider this staking opportunity.
Start now by buying and staking Terra on Binance. Alternatively, you can read our Terra buying guide for more info.
3. Avalanche (AVAX)
Buy and stake AVAX on Binance to earn up to 21.2% annualised yield (90-day lock up). Even the shortest staking period (30 days) gives stakers an APY of 12.3%.
These interest rates dwarf those offered by traditional savings accounts. Given that AVAX is also an increasingly popular token, it could also increase in price on top of these impressive rates.
Sign up with Binance to start staking today. If you want more information, you can read our guide on how to buy Avalanche before making a purchase.
All price data and yields correct at the time of writing, as per Binance.
The post Top 3 Coins to Stake on Binance appeared first on Coin Journal.