We are going to cover the top 3 Highest APY crypto staking and the risk-to-reward opportunity is very interesting because we are in a bear market. We may be near the bottom not exactly but near meaning that if the coins we speak about can make it out alive of the bear market into the next bull market reach their all-time high and even break it. These coins can do anywhere from 5-10 times and also the staking rewards are earned in the crypto. If the coins do a 5 to 10x the interest that is earned on staking rewards can also do multiples.
There is something very important that needs to get out of the way right now and that is staking has risks. One of the biggest risks of staking is that the underlying asset loses value even if you find a coin with a high yield. Let’s say 50 or 100 APY, it’s meaningless if the underlying asset loses 50 to 80 of its value. In that case, you’re not making money at all. So here, we are going to focus on higher cap coins with a higher probability of making it into the next bull market not a guarantee but a higher probability.
Also Read: Cardano staking and How does it work?
Three Highest APY crypto staking
1. Cosmos Highest APY crypto
Let’s get to it the first high-yield staking coin. The first Highest APY crypto staking is Cosmos (ATOM) in our list with an apy of 18 very very high. Cosmos is currently number 22 in the marketcap with a current price of $9.63 and an all-time high of 44. If the cosmos reaches its all-time high this will do about 5x and Cosmos is pretty easy to stake. You can get started with as little as 0.05 atom. But there is a downside for cosmos and that is there is a lock-up period of 21 days. But overall very simple and easy to stake with just a few clicks and many different options for wallets. It can be staked using exodus wallet or something like trust wallet (a very simple option). Also, you can stay cosmo self-custody with a ledger wallet as well. So with all of these options, it’s very simple to stake it. You can get started with a very small amount. Earn a very high apy at 18 but the downside is the lockup period of 21.
2. Polkadot Highest apy crypto
At number two for high-yield staking cryptocurrencies is Polkadot with an apy of 14. Polkadot (DOT) is ranked number 11 in marketcap with a current price of $5.31 and a high of $54. If polkadot makes it to its all-time high, it will do nearly an 8x. Polkadot is one of the largest cap coins. One of the most popular coins with a high probability of making it to the next bull market. But there are downsides to Polkadot staking. It’s not as simple as most other cryptocurrencies. There are many steps to stake polkadot. If you’re doing it through self-custody and also there is a lock-up period of 28 days. There is a minimum amount to earn staking rewards with Polkadot but the thing is it’s dynamic. It actually changes and right now the minimum amount is 138 polkadot. One of the best ways to stake Polkadot is using the Polkadot js wallet. Also, Polkadot can be staked using a ledger wallet but not everyone will be able to meet these requirements.
Fortunately, there are other options and that is using a third-party exchange but of course, that has its own set of risks because you are giving your crypto to a third party. Remember in third-party keys and crypto are not yours but overall it does simplify the process. For example, with binance you can lock up your dot for different interest rates. If you do it for 30 days 11 apy and the longer you lock it up the higher the interest rate. 120 days of lockup period will give you 20 apy but the main feature of Binance on top of it simplifying. The process is the minimum amount 10 DOT for plain staking on the Polkadot blockchain. Every exchange has its own minimum staking amount for example 130 or 150 minimum.
To fix lock-up period issue, you can use Kraken. Which also offers to stake for as little as a minimum of fractions of a dot. But the great thing about using kraken is that there is no lock-up period. So if you want to unstake your dot on Kraken you can quickly exit from your staking position, transfer those assets or trade those assets. So when it comes to polkadot it is more complicated and has higher requirements than most other cryptocurrencies to stake. But at the same time, it is one of the largest cap cryptocurrencies with a higher probability of actually making it into the next bull market and also a very high apy with 14.
At number three for Highest APY crypto staking is avalanche (AVAX) with an apy of 8.64. Avalanche is currently ranked number 18 in marketcap with a current price of $13.22 and a high of 144. If avalanche reaches its all-time high this will be about a 6.6x. When staking avalanche there is a minimum of 25 avalanche not too bad and a lock up period of 14 days. The best way to stake avalanche is using the avalanche wallet but also just like dot you can also stake avalanche on Binance as well. But remember third-party risk not your keys and not your crypto. Avalanche can also be staked using a ledger in useful self-custody with the option to stake.