20 Best High APY Crypto Staking Coins for Maximum Passive Income (2024)

Interested in investing in cryptocurrencies? There are a myriad of factors to take into account. When you invest in coins based on a proof of stake (PoS) blockchain network you can engage in staking, which helps PoS networks operate more securely and efficiently. The only requirement for staking is that you keep coins in your cryptocurrency wallet over an extended period of time, which allows you to earn staking rewards. Staked coins are similar to interest-bearing savings accounts, since with both options you earn interest on your initial investment. Keen on giving this passive income strategy a go? Read on as we cover some of the best staking coins you can invest in if you want to earn passive income while taking advantage of high yield.

Key Takeaways:

• Staking PoS coins allows you to earn passive income by holding and validating transactions on a crypto network.

• Besides PoS coins, this guide lists other top staking coins with high interest rates, including stablecoins like USDT and USDC, and other coins, such as BTC, LFT and APTR.

What Is Crypto Staking?

Crypto staking is a process that involves placing funds into a digital wallet and keeping them there to support validating transactions for PoS blockchains. By participating in transaction validation, participants earn extra cryptocurrency.

The main benefits associated with staking crypto include the following:

• Crypto staking doesn’t require any extra equipment, unlike crypto mining.

• You can earn a certain amount of interest on your crypto holdings.

• Staking is substantially less harmful for the environment than mining.

• Staking directly enhances the efficiency and security of PoS blockchains.

There are some notable differences between mining and staking. In general, while mining only occurs with proof of work (PoW) systems, you’re able to get a return on both PoW and PoS coins on staking platforms.

Both PoW and PoS as consensus mechanisms are able to confirm blockchain transactions without needing a third party, such as a bank or other financial institution. The main difference between the two mechanisms is in their energy consumption. If you’d like to get started with the staking process, you first need to obtain PoS coins. Once you’ve selected the coins you want to use, you’ll decide how much of your top staking coins you’d like to stake. This process can be done on any major cryptocurrency exchange.

Keep in mind that it’s also possible to earn additional income through yield farming. Although somewhat more complicated than staking, yield farming involves earning coins by lending your current crypto assets to various decentralized finance (DeFi) platforms. With yield farming, you can contribute crypto assets for anywhere from a couple of days to several months. Higher lending amounts invariably lead to higher rewards.

Risks of Staking

Despite the benefits of crypto staking for earning passive income, there are several risks to be aware of. The primary ones are as follows:

• Crypto prices are relatively volatile, which means they can depreciate quickly. In the event that your assets drop by a sizable amount, you may not earn enough interest to outweigh your losses.

• While it’s possible to “unstake” your crypto earnings, doing so can take at least seven days for certain platforms. Conversely, platforms like Bybit offer Bybit Savings which allows for instant withdrawals.

• If you want to use some of the top staking coins, it’s important to understand that these coins will remain locked for a short period of time. This means that nothing else can be done with these assets in the interim.

What Are the Best Coins to Stake?

The following is a comprehensive look at 20 of the best staking coins you can purchase in order to start obtaining staking rewards. The tokens’ symbols are listed after each crypto platform.

1. Tether (USDT)

If you’re looking for the highest APY crypto staking token that won’t depreciate in value, Tether (USDT) is a good choice. As the world’s leading stablecoin, ranked third among cryptos after Bitcoin (BTC) and Ethereum (ETH), USDT boasts a market capitalization of $114.34 billion (as of Jul 23, 2024). Since 2014, USDT has provided crypto users with a cushion against the volatility of cryptocurrency markets.

Instead of holding fiat currency in traditional financial systems (such as banks), you can stake USDT, which will provide you with an attractive passive income and help you hedge against inflation, especially during these uncertain economic times. 

USDT reserves are backed 100% by the U,S, dollar (Tether’s platform provides a transparency page where you can verify this). Better yet, USDT has a huge trading volume and deep liquidity, allowing you to easily swap your tokens for digital assets. 

Ready to hold crypto without the risk of losing value due to volatility? Then try Bybit Savings, where you’ll earn an APR of 9.27% from staking USDT for a flexible period. Staking for a flexible time means that you can unstake your tokens at any time, as the yields are paid out daily. Bybit is also holding an exclusive USDT staking event, during which staking USDT earns you 300% interest for both fixed and flexible terms — making it the highest-APY crypto staking offer around.

2. Ethereum (ETH)

Popularly known as “digital silver,” Ethereum is ranked second among cryptocurrencies after Bitcoin. The blockchain has been improving its network through various successful upgrades, which have increased its efficiency.

Ethereum’s ecosystem remains one of the busiest in the crypto space, as people leverage its security and smart contract capability for building DApps. A considerable number of well-performing Layer 2 blockchains, such as Arbitrum (ARB) and Optimism (OP), have also helped scale Ethereum by providing low-cost, high-speed transactions.

ETH is one of the best crypto staking coins, with numerous ways to earn passive income from it. You can stake it with Bybit Savings flexibly and enjoy an interest rate of 3%. 

Also, following the upgrade to ETH 2.0, liquid staking has become popular. It allows you to access your staked ETH in the form of liquid staking derivative (LSD) tokens and use them for DeFi activities, such as lending and providing liquidity. 

You can stake your ETH with Bybit to receive stETH, or on the Lido liquid staking platform to enjoy 2.89% interest while earning passive income from stETH collateralized loans on Bybit. You can also stake ETH on Mantle Network and receive mETH with an APR of 1.1%. Bybit provides multiple ways to maximize yield from your mETH.

3. USD Coin (USDC) 

Another top crypto to stake without any fear of value depreciation is USDC. It was created by fintech giant Circle, and has strong partnerships through the Circle Alliance Group, which includes notable names such as Visa, Mastercard and BlackRock. Over the years, USDC has risen to become an in-demand crypto, especially for those looking for a stablecoin to stake.

USDC is designed to facilitate fast and cheap cross-border payments, and to provide crypto users with a transparent and safe cryptocurrency for transactions. Circle has increasingly expanded its reach across the globe, driving USDC up the crypto rankings to become the second-most popular stablecoin after USDT.

To earn passively from HODLing USDC, lock it with Bybit Savings for flexible staking. You’ll enjoy an APR of 7.32%, and can withdraw your assets instantly and convert them into your preferred currency without much hassle. The process is fast, straightforward and transparent.

4. Toncoin (TON)

The Open Network (TON) was founded by Telegram in 2018 to provide scalable and affordable cross-chain interoperability. Toncoin (TON), the native token powering the project, has been pumping hard in 2024, shattering its all-time high with a price of $8.01 on Jun 14, 2024. 

TON's surge was fueled by Telegram's announcement in April 2024, stating that channel owners could now pay for in-platform ads for their channels using the token. TON has also been attracting major partners, such as Pantera Capital.

Ready to earn passive income from one of the best crypto staking coins? Stake TON with Bybit Savings to earn an interest of 8.36% for a flexible term. 

You can also stake your TON tokens to become a validator and secure the TON blockchain, where you'll earn an APR of 2.99%. With the popularity of Telegram-related projects, such as Notcoin, Hamster Kombat and TapSwap, the TON blockchain is thriving. Hence, HODLing and staking TON can be a smart investment decision.

5. Bitcoin (BTC)

Bitcoin remains the top crypto in terms of market capitalization. So far, 2024 has been a good year for BTC, which hit a new all-time high of $73,737 on Mar 14, 2024, following the approval of Bitcoin Spot ETFs in January. Furthermore, the Bitcoin halving event that was completed in April has made it harder to mine BTC, reducing the amount of coins in the circulating supply. Based on these factors, it’s ideal to hold and stake Bitcoin, since its value will continue to soar over time. 

Having been around since 2011, and with various developments on the network designed to increase its value, Bitcoin remains one of the best crypto staking coins around. With Bybit Savings, you can enjoy a yield of 2.5% when staking Bitcoin for a flexible period. 

6. MNT

MNT is the native token for Mantle Network, a modular L2 Ethereum scaling solution that combines data availability, superior performance and security by using optimistic rollups. 

Furthermore, Mantle is EVM-compatible, allowing developers to leverage smart contracts and other tools to easily build DApps. Compared to other Ethereum L2 solutions, Mantle has an extensive network of partners tied together by the MNT token, making its blockchain a rapidly growing haven for app developers.

MNT is also one of the best crypto staking coins on Bybit, with a rate of 20.35% for its flexible plan.

7. Solana (SOL)

The Solana blockchain has been making a comeback in 2024 following a catastrophic phase during the bear market, especially with the collapse of FTX. There’s been growing demand for SOL, especially around Solana-based meme coins, which have been performing remarkably well in 2024.

We've seen increased liquidity on Solana, and the SOL token has returned to the top five in crypto rankings. The heightened activity on Solana — which could continue during a full-blown bull market — suggests that investing in SOL could be a good move.

Since you hold your SOL tokens, you can stake them flexibly with Bybit Savings to earn an APR of 1.2%. In addition, you can help secure the Solana network by staking your SOL tokens on its PoS platform at a yield of 6.97%.

8. USDe

USDe, a creation of Ethena Labs, provides an efficient and scalable stablecoin (synthetic dollar) that enables crypto users to explore and invest in the crypto space without worrying about volatility. Besides trading USDe as a Spot pair, USDe’s integration into Bybit also allows you to use it as collateral to trade perpetual contracts. 

You can also earn passive income by staking USDe on Bybit Savings to earn a high interest of 30% for either a flexible or fixed term — a rate that makes USDe one of the highest APY crypto staking tokens currently available on the platform.

9. Dai (DAI)

The Dai stablecoin was created by MakerDAO to provide crypto users with volatility-free financial freedom. An ERC-20 token, it's powered by smart contracts, and can easily be integrated into DApps. 

With Dai integrated into over 400 apps and services, its utility has grown over time, making it a worthy contender in the stablecoin niche. As such, DAI is among the best coins for staking, since it can easily be converted into other assets. Its popularity is also due to increased demand for a decentralized stablecoin. To earn passive income, you can flexibly lock your DAI tokens on Bybit Savings at an interest rate of 6.24%.

10. Aperture Finance (APTR)

The explosion of artificial intelligence (AI) technology has led to many crypto projects merging AI with blockchain technology, pushing the limits of technology even further. Aperture Finance (APTR) is one of the leading DeFi projects to create an innovative intention-based protocol powered by a chatbox, allowing users to achieve their goals easily by using natural language prompts. The requests are then efficiently processed by a decentralized network of solvers, with the solver integrity maintained via zero-knowledge (ZK) proofs. 

Its native token, APTR, can be staked on Aperture Finance for the right to governance and voting, as well as to earn staking rewards. APTR staking is split into three different durations: Staking APTR for 30 days yields an APR of 10% APTR and 23% USDC; a 60-day period gives you 15% APTR and 35% USDC; and staking for 90 days earns you 20% APTR and 47% USDC. APTR is currently among the best cryptocurrencies to stake on Bybit Savings, where you can earn an attractive rate of 50% for a fixed period. 

11. Cosmos (ATOM)

Referred to as the “internet of blockchains,” Cosmos is a Layer 0 blockchain that enables the creation of customizable application-specific chains through Cosmos SDK. These independent blockchains can then communicate effectively with each other via Cosmos’s Inter-Blockchain Communication (IBC) Protocol. Its native ATOM token powers Cosmos’s PoS consensus system by incentivizing holders to stake their ATOM tokens to a validator that helps secure the network. 

By staking your ATOM tokens on Cosmos, you’ll receive rewards at a rate of 17.18%, making ATOM one of the highest APY crypto staking coins. You can also lock your ATOM tokens flexibly on Bybit Savings, where you’ll receive passive returns at a rate of 1%.

12. VaporWallet (VPR)

VaporWallet (VPR) launched in 2023 and went on to become one of the biggest IDOs on Bybit, with over 40,000 investors participating. Its gas-free crypto wallet is supported by Visa and lets you enjoy a seamless experience when transacting your digital assets, without the complexities of gas fees.

VPR is used to incentivize users to buy mutual funds on VaporWallet. You can also stake VPR and other cryptocurrencies in the wallet to earn rewards.

Furthermore, VPR is among the highest APY crypto staking coins on Bybit, with a yield of 60% on your staked assets. Combined with the versatility and convenience of VaporWallet, this high APY makes VPR one of the best staking coins to hold for passive income.

13. Polkadot (DOT)

DOT, the native token for the Polkadot ecosystem, is one of the best staking coins to hold, due to its utility in facilitating the governance and security of the Polkadot blockchain. Created by Ethereum's co-founder, Gavin Wood, Polkadot has remained a popular multichain network, designed to enhance interoperability and communication across different chains.

DOT is used for bonding, staking and governance on Polkadot. There are two ways to stake on Polkadot: by holding at least 566.802 DOT to become an active nominator (the minimum amount changes every 24 hours), or by staking a minimum of 1 DOT in the nomination pools. Rewards are paid out every 24 hours at a current rate of 11.4%, making it one of the highest APY crypto staking tokens in the DeFi space. Alternatively, you can choose a simple staking solution on Bybit Savings with an APR of 1% on your staked DOT assets.

14. Lifeform (LFT)

LFT makes our list of the best staking coins since it's the native token for Lifeform, a platform that lets you create a realistically human-like avatar to use as your digital identity across the web3 space. You can stake your LFT tokens on Lifeform to earn rewards from minting NFT avatars. LFT is among the highest APY crypto staking tokens available on Bybit, with an interest of 40% on Bybit Savings.

15. Avalanche (AVAX)

AVAX is the fuel powering the Avalanche blockchain, a smart contract platform designed to help developers create fast, efficiently and cheaply. Individuals and enterprises can access affordable, low-code tooling on Avalanche to launch their apps. AVAX is used to pay gas fees on the Avalanche blockchain and secure the network through validators.

You can stake your AVAX tokens to become a validator, and earn staking rewards at an annual rate of 7.97% — which makes AVAX one of the highest APY crypto staking tokens in the DeFi space. You can also stake your AVAX on Bybit Savings, where you’ll earn a return of 1% and can conveniently withdraw your assets at any time.

16. Spectral (SPEC)

Spectral is another crypto project that has incorporated AI into its blockchain technology. It offers two core products — a decentralized oracle, Spectral Nova, comprising a network of AI and ML models that provide verifiable inferences and insights to blockchain smart contracts and apps, and Spectral Syntax, a generative AI tool to help you build your own on-chain AI Agents through easy smart-contract programming code via textual prompts. Its governance token, SPEC, also offers incentives to holders who stake the token on its two platforms. On Spectral Nova, validators have to stake SPEC as collateral, which incentivizes them to act with integrity, and on Spectral Syntax, users can stake SPEC for elevated agent creation and monetization rights. SPEC is also one of the highest APY crypto staking tokens on Bybit Savings, with a rate of 30% for both flexible and fixed periods.

17. Cardano (ADA)

Often compared to Ethereum, Cardano provides users with faster transactions by using the Ouroboros PoS consensus mechanism. ADA is the native token powering Cardano that facilitates payments within its ecosystem. Staking pools help run the Ouroboros PoS protocol 24/7. ADA holders can delegate tokens into staking pools to enjoy staking rewards at a rate of 2.86% while being able to spend their delegated ADA at any time.

You can stake your ADA tokens on Cardano using the blockchain’s official wallet, Daedalus, a secure desktop wallet that allows you to set up a bundled Cardano node with a single click. However, its complexity of use has led users to seek alternatives, such as Yoroi and AdaLite. If you wish to reap simple yields without the challenges of staking on a PoS platform, you can flexibly stake ADA Bybit Savings at a rate of 1%.

18. BNB Coin (BNB)

BNB is one of the best crypto staking coins, due to its pivotal role in the cryptocurrency space, especially as it powers Binance, one of the world’s largest cryptocurrency exchanges. The coin’s versatility and critical role in BNB Smart Chain (BSC), coupled with solid tokenomics, make it one of the best cryptocurrencies to stake. BNB is used to pay fees on the Binance exchange and BSC, to pay merchants, and for staking to receive passive rewards.

Since BNB's use cases are rapidly continuing to expand, you can stake your BNB with Bybit Savings for a flexible period to earn rewards at a rateof 1%. You can also become a validator and contribute to the security of BSC by staking your BNB to receive daily staking rewards. Otherwise, you can contribute as a delegator by staking your BNB to validators via supported wallets, such as BNB Chain Wallet, Trust Wallet and MathWallet. 

BNB is one of the top staking coins you can hold, since it can also be liquid staked on various platforms. You can then receive LSD tokens to use for other DeFi activities while your BNB yield continues to generate. For instance, by liquid staking BNB with Ankr, you'll earn your reward at a rate of 1.08%. Meanwhile, Stader offers 2.24% APR for its liquid staking service. 

19. Dymension (DYM)

DYM is the native token of Dymension, a Layer 1 modular blockchain platform built to provide security, bridging and liquidity to RollApps, which are Layer 2 application-specific rollups created for a single DApp use. Similar to Layer 1 blockchains built with Cosmos SDK, each RollApp is equipped with on-chain governance, the ability to mint native tokens and IBC bridging to over 100 external chains in the IBC ecosystem, including major chains like Tether, USDC and Ethereum. 

RollApp Sequencers need to stake DYM tokens to process blockchain transactions. DYM token holders can also act as delegators and stake their tokens to Governors, who participate in the on-chain governance of a RollApp to receive a portion of the rewards. A more straightforward way to earn from staking is through Bybit Savings, where you can earn 3.8% APR via the flexible term.

20. Medieval Empires (MEE)

MEE is the utility token for Medieval Empires, an NFT blockchain game based in the 13th century in which you build an empire and an army with the aim of becoming the most powerful empire in this medieval land. 

MEE is among the top staking coins you can hold, since it unlocks benefits such as VIP status in the game, land access and other rewards. You can also stake MEE on Bybit Savings for a fixed period of 30 days, during which you’ll earn staking rewards at an APR of 8%.

The Bottom Line

Staking your coins, either on a PoS blockchain network or on Bybit Savings, offers you a great way to earn passive income and generate high returns. These investments come with very little risk and pay handsome rewards in earned interest. With this guide in hand, you should have everything you need to begin the staking process.

Disclaimer: All trading carries risk. Only risk capital you can afford to lose.

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