The world is changing fast – especially the world of cryptocurrency. This requires crypto investors to make fast decisions. This article will tell you about the best app to stake crypto in 2022, including some of the best-known behemoths on the market as well as rising stars that offer great service with reduced fees.
Here’s a quick recap of what staking is. With classic staking, you lock your crypto assets for a certain period. Your locked tokens will be contributing to the blockchain network. Basically, crypto staking is similar to bank deposits, when investors also get their money locked and earn interest in return. When you stake crypto, you can also earn good rewards. Even though there are multiple platforms that offer staking services, not all of them have great mobile equivalents. Keep reading to find out about the most profitable and user-friendly mobile apps available.
Best crypto staking app – main factors to consider before signing up
With all the information available on the web these days, it’s just unjustifiable to make a decision without prior research. That’s what you’re doing right now – trying to compare different platforms to find the best staking crypto app for you. So invest your time in good research before investing your money. What’s the best way to do it? Find 5-7 common aspects that are most significant for you and compare the resources based on these characteristics. Here are the main ones to lean on when comparing the apps: fees, security and regulations, supported markets, tools and features, and user-friendliness.
● Fees
You need to dig deeper to find out about the fees you will get charged on various crypto trading apps. There are several types of fees, like trading commissions, reward fees, withdrawal fees, etc. It’s crucial to choose the right app before investing to make sure you don’t overpay the fees since they can eat a good share of your profit margin.
While a lot of users are used to reward and withdrawal fees, for some it might come across as unexpected, but a lot of platforms have deposit fees. Yes, you need to pay for putting money into their wallet and the amount you’re charged varies depending on the payment method (usually 3-5% for Visa and Mastercard payments).
● Security and regulations
No matter what amount you’re depositing, the last thing you want to know is that your money was stolen by a crypto criminal from another continent. It’s one thing when you buy a cryptocurrency that suddenly falls – this was your decision, and you’re responsible for it. But it’s a completely different thing if someone steals your investment. Of course, we cannot be 100% even of the most regulated and safe platforms, but you have to do everything that depends on you to avoid the loss. And that’s exactly what you can do – choose an officially registered and regulated app. All the apps on this list are safe and have a sufficient level of security so that you could sleep well once you deposit your funds and buy some coins.
● Supported assets
Some of the apps focus on a select number of assets, while others offer a wide range of crypto coins. If you have already chosen the currencies you want to invest in, it’s okay to choose an app with 10-20 assets. However, it’s best to sign up in an app that offers multiple cryptocurrencies and regularly adds new ones which will give you more flexibility and a chance to buy promising coins without the need to jump between different wallets. Binance, Crypto.com, and MyCointainer have the biggest number of coins offered with 1000+, 250+, and 150+ cryptocurrencies respectively.
● Tools and features
Staking and HODLing are cool but try to opt for an app that will give you more opportunities to earn crypto. It’s important to strike a balance here – a wide range of features is cool, but once you try to figure out how everything works, it can seem like too much to grasp. Also, don’t be deceived by a desktop version of the platform. Sometimes the developers focus on it and the mobile app vaguely resembles the desktop version with very limited functionality.
If you’re looking for a good crypto app, you’re definitely planning not only to track the rewards generated and the changes in the value of the coins but also to be able to trade and exchange your crypto from the app on the go. The 5 apps we included in the list have decent apps allowing you to get access to your money anywhere and anytime you need.
● User-friendliness
This factor is important for everyone but is vital for the newbies who are just learning to earn crypto. In their case, poor user experience affects not only their impression of the app but also can influence their success as crypto investors. Remember: a great crypto app should be able to give you all the information you need to see at the same time to be able to make good purchasing or selling decisions on a much smaller screen than your computer. The most trustworthy platforms on this list were able to create very user-friendly and efficient apps.
Now when you have the list of the most important factors for the assessment, you can analyze any app you come across to choose the best crypto app for staking, hodling, and selling cryptocurrency.
Best apps to stake crypto – choose your favorite from the five below
It might be hard for you to choose the best crypto apps to stake from the list of five apps we add below, but we assure you that these five will be the best you can find on the market.
1. MyCointainer
Like most of the apps on the list, MyCointainer app gives you the possibility to buy, sell, exchange, deposit, and track crypto. Also, with MyCointainer app, you can stake crypto and participate in the airdrops. MyCointainer supports more than 150 assets, and there are a lot of payment methods available like bank transfer (SEPA and SWIFT), debit/credit card, Wise as well as 10+ options. The beauty of MyCointainer app lies in its no-frill UX combined with the detailed tracking of rewards you’re getting every day. Also, you’re charged the fee only when (and right after) you get the reward. Overall, it’s the best place to stake crypto for beginners who are looking for a good balance between simplicity and variety.
2. Binance
Binance has a great app for intermediate and advanced crypto stakers and traders. The trading commissions are very competitive and the list of cryptocurrencies is the longest on the market, so if you found out about a newly emerged coin that might bring you great profit, you will most likely find it on Binance. Overall, the Binance app gives you access to your wallet, crypto market analytics, buying/selling, depositing/withdrawing crypto, and learning guides. As a beginner, you might be quite overwhelmed by the app’s functionality. So if you go for it, we suggest that you try the features one by one to make sure you keep track of your assets and follow the undergoing changes in your wallet.
3. Coinbase
Coinbase has one of the best mobile apps on the market with quite well-developed functionality and yet very beginner-friendly. The app supports over 50 crypto assets giving you access to your wallet, including NFTs, games, communication with other users, DeFi pools as well as buying, and swapping functionality. You can also send and receive crypto to/from the other users. One of the drawbacks of the app is that the fees for purchasing crypto are quite hefty – up to 4%. Coinbase’s security is fantastic, ranging from the availability of universal security tools like 2FA to supporting cold storages and the ability to block withdrawal requests for 48 hours if needed.
4. Crypto.com
Crypto.com currently supports more than 250 cryptocurrencies you can buy with Visa or Mastercard paying a fee of 3%. This means that with their app, you can create a great crypto portfolio with different assets which allows you to win anyway once the value of some of them falls. Crypto.com has its own credit card which is an important factor for some investors. Also, with Crypto.com you can earn additional profit by putting your money in a savings account and locking them up for some time. Additionally, you can get a loan on Crypto.com, earn cash back by paying with their native coin and send crypto to other users with 0% fees. With the user-friendly interface, beginners can try their hand as well.
5. eToro
eToro offers a secure wallet regulated by the Gibraltar Financial Services Commission. The app is suitable for both newbies and experienced investors. With their mobile app, you get access to a great number of crypto market insights, your crypto portfolio, and eToro crypto community with the possibility to learn from other investors. However, be ready that some regions are not included. For example, eToro is not available for users from Ukraine, but we’re sure their team is working on covering as many areas as possible in the near future. eToro offers a bit less than 50 crypto assets and is a regulated crypto trading and staking platform. The great news is they don’t have any fees for deposits in USD and support the most popular payment methods like debit and credit cards, ACH, bank wires, and PayPal.
How to stake crypto on MyCointainer app – staking can take up to 10 minutes
Even though you might be used to staking on your laptop, you can think about how to stake crypto on an app since you do not always have access to your computer, but sometimes you need to make fast steps to earn the best profit. Crypto staking is available in the MyCointainer mobile app for both iOS and Android as well. Mobile staking is as straightforward as on the website: you buy the coin either by exchanging it for the crypto assets you have in your wallet or by the cash you deposited earlier. It’s done – MyCointainer is now generating rewards for you. No need to lock your assets or delegate them, just watch your portfolio grow right in your smartphone.
Staking app for crypto–conclusions
These days, it’s extremely important not only to consider aspects like fees, security, and features available but also to look at the apps that don’t have any lockup periods. Your best app for staking crypto should offer you great rewards without locking your money for a month or even more. Thus, you will feel safer and enjoy the flexibility of earning crypto without additional risks.