Staking your crypto assets on centralized exchanges is a terribly bad idea, no matter the benefits. So we decided to provide you with a list of the top 5 decentralized staking wallets as alternatives.
Staking has become an attractive alternative to trading or hodling for many crypto investors as it seems to provide greater safety and assured earning.
For example, even in a bear market, many investors testify that staking provides you with an easy means to systematically and passively grow your crypto wealth.
This development has lead to many innovative and forward-thinking crypto wallets integrating the staking as a service solution so that investors need not trust third parties such as exchanges and staking pools with their money in order to participate in staking.
Below are the top 5 staking wallets in descending order, that you should consider using if you ever decide that staking is for you.
Top 5 Best Staking Wallets:
- Atomic Wallet
- Guarda Wallet
- Ledger Hardware Wallet
- Trust Wallet
- Exodus Wallet
Let’s take a closer look at what each of them has to offer below.
5: Exodus Wallet:
Exodus Wallet is a quite popular multi-currency crypto wallet that can be easily integrated with the Trezor hardware wallet.
So far, the Exodus wallet allows staking for TRON (TRX), Ontology (ONT), and NEO.
And new tokens are being added or removed, so you may want to check with the wallet to see what coins are currently stakeable there.
4: Trust Wallet
Trust Wallet is a decentralized hot wallet supported by the popular Binance exchange.
The Trust Wallet works seamlessly with Binance DEX and Kyber Network protocol.
Allowing you to make instant trades on the decentralized exchange.
Trust Wallet also offers you full support for all ERC20 tokens on the Ethereum network and BEP2 tokens on the Binance Chain.
At the moment, Trust Wallet lets you stake Tezos (XTZ), TRON (TRX), Cosmos (ATOM), Algorand (ALGO), and Kava (KAVA).
3: Ledger Hardware Wallet
Most especially if you are holding bigger amounts of crypto, you should definitely consider owning and using a cold wallet.
The biggest advantage of using the Ledger hardware wallet for staking is security.
You can receive your staking rewards while holding your coins secure on your Ledger hardware wallet.
Staking, in general, is safe because you as a user are always in control of your private keys —remember, not your keys, not your coin.
Delegating or staking your assets from a hardware wallet provides you with a greater layer of unbreakable security.
Staking with the Ledger hardware wallet is quite simple and it allows you to securely stake up to seven different cryptocurrencies.
With the Ledger Hardware Wallet, you have two options for staking:
- You can use the Ledger Live or
- external wallet apps.
At the moment, you can only stake Tezos (XTZ) and TRON (TRX) directly with Ledger Live. Tezos was the first coin that gave users the chance to start staking in Ledger Live.
TRON (TRX) followed recently on 15th April 2020.
We can expect that there are more coins following for staking in Ledger Live as the team is currently developing the new staking features.
For staking the other cryptocurrencies with your Ledger hardware wallet, you need to connect your Ledger with an external hot wallet such as Exodus, Atomic, Guarda, etc.
2: Guarda Wallet
The Guarda Wallet is an external hot wallet that lets you connect your Ledger device to their platform, so you can securely display your balances and manage your transactions.
Like Trust Wallet, Guarda Wallet offers you full support for all ERC20 tokens on the Ethereum network and BEP2 on the Binance Chain.
Right now, Guarda Wallet supports staking for Callisto (CLO), Cosmos (ATOM), Komodo (KMD), EOS (EOS), and Tezos (XTZ).
Also, there is a GAS claiming option for holding NEO.
TRON (TRX) staking is coming up soon as well as Reddcoin (RDD) staking.
By the way, you can also create your own token with the Guarda Token Generator. Guarda Wallet made token creation a simple process by taking care of the technical aspects for you. With Guarda Wallet, you are able to create a token in three easy steps.
It’s an awesome feature that’s worth mentioning here.
1: Atomic Wallet
The Atomic Wallet is arguably the best staking wallet you should be using already as it also enables you to buy crypto with fiat, store, transact, exchange, and stake your crypto assets anonymously and securely.
What’s more, you get to keep all the profits or staking rewards as the wallet does not charge you any fees compared to exchanges and staking pools who take between 2 to even 25% of your staking reward in the name of “service fee”.
Simply choose the cryptocurrencies you want to stake and enjoy decentralized, zero-fee staking with Atomic Wallet
Currently, there are more than 18 (and counting) different cryptocurrencies available for staking on the Atomic Wallet .
Staking with centralized exchanges and staking pools is one of the fastest ways to get separated yourself from your crypto assets and should be avoided as much as possible.
Maintain the custody of your funds at all times and protect your money and privacy by using any of the decentralized staking wallets mentioned above.
Which is your favourite staking wallet and what’s been your experience using them so far? Share with us in the comments section below.