As an investor, you have been told you can’t time the crypto market. So you probably look for the best cryptocurrencies to stake for the long term.
After all the cryptocurrencies big guys often say, Long term investment such as staking, holding is critical when building wealth in crypto markets.
Staking forever is very long term, even for buy and hold investors who are known to be patient. But this statement raises the question, which cryptocurrencies are worth staking forever?
Elite answer to that question is quite simple, cryptocurrencies staking for long term staking must meet the following criteria: Must earn a good staking reward return, Must be run by able and trustworthy developers, Must be available to the market at a good price.
With that in mind, here are eight suggestions including the fast-rising cryptocurrency-Etherum and four other not so common cryptocurrencies that you can stake and should be in your Long term investment portfolio
Note: These cryptocurrencies are randomly selected, they are not ranked.
Ethereum 2.0 represent a newer version of Ethereum.
Ethereum is software that enables transfers of values via its native token ‘Ether’.
It’s no longer news that etherum will be switching from proof of work to proof of stake, which means it’s a matter of time we will bid the world of mining goodbye and we welcome the most efficient way to validate – staking, to the Etherum network
The arrival of Etherum 2.0 is to increase transaction speed, reduce gas fees and make the network more sustainable.
Etherum market value – At the time of writing this article.
1 Ether is around 3400 dollars with a market cap of about 401 billion dollars. Ethereum is number #2 on coinmarketcap ranking.
Why you should stake Ethereum 2.0?
Etherum 2.0 staking is a slow but sure way to get rich in the crypto market. Since it was launched in 2017, the network has been grabbing the headline every single time.
Most big investors speculate that the Etherum will outperform Bitcoin with the community surrounding the network, who knows?.
With the service, it provides such as a smart contract and the huge market cap, it’s safe to say Etherum will remain relevant in several years to come.
Another thing worth sharing with you, the Etherum upgrade could have a significant impact on its price as it reduces gas fees and fast transactions open the network to high multitudes of users
Ways to stand Etherum 2.0
To begin with, etherum 2.0.staking is not difficult. Before you start, two things are worth mentioning:
- Etherum 2.0 upgrade is ongoing, which means anyone who chooses to invest and stake in the etherum 2.0 network, will have to wait till it’s over to withdraw funds -this might take one year.
- Like most Pos coins, the Etherum 2.0 annual return is tied with the number of validators existing in the networks. For instance, where they were approximately 500,000 Ether staked in 2020, the APY ( annual per yield) was around 22 %. The APY numbers have gone down to about 6.0%, with over 7 000,000 Eth stakes on the network.
However, a lot of investors believes the APY is quite okay since there is faith that there will be a Bullish tendency on Ethereum price in the future.
Here is all you need to on how to stake Etherum 2.0 and the places you can stake
Ethereum staking reward.
Etherum offers around 6-10 percentage on your investments. Staking rewards depends on the platform used to stake and the type of staking you are running ( either validating a full node or delegating Ether token).
The Cardano project is one of its kind since it went live in 2017, it has been described as an Ethereum killer.
The CEO of IOHK, the company behinds the Cardano project spoke on the Crypto Banter podcast stating that the Cardano is built to solve the biggest problem the industry faces today – the transfers of funds and information.
Cardano leads off Ethereum to market in terms of staking. The rate at which crypto lovers have invested in the Cardano asset over the years has proven that it will become the next big name in the crypto industry in future.
Cardano price ( At the time of writing this blog post)
The price of Cardano is 2.23 USD with a market cap of 71 billion dollars. Cardano is ranked in the third position below Bitcoin and Ethereum according to coinmarketcap.com
Why you should stake Cardano now?
The Cardano has focused on the proof of stake consensual mechanisms from the start, unlike Ethereum, which is slowly converting from proof of work to proof of stake.
The early adoption plays a part in seeing the asset growing rapidly.
The benefits of staking ADA includes;
Cardano is the best alternative to ethereum. With the high market cap and the increase in numbers of people investing on the network daily, it is unlikely for the assets to decline in value.
Looking at the price chart above, you can tell that despite the price fluctuations, ADA still grows
No lock-up period feature: The reason Cardano is more attractive to investors and has a competitive edge over its counterpart ‘palkadot’ is the fact that there is no required amount for staking.
One can choose to stake any amount of ADA and the ADA token has no lock-up period, you can choose to unstake anytime and claim your staking reward.
Therefore the right choice for users who prefer a low-risk investment.
Has a good team of developers : Charles Hoskinson, the founder of Cardano has been involved in several successful projects.
He was the co-founder of fast-rising – Ethereum and he’s also the founder of IOHK Company.
Charles Hoskinson has been part of two leading networks asides from Bitcoin, which are the top three ranked assets in crypto markets. It is safe to say your funds are in good hands.
Ways you can stake Cardano
If you are interested in being part of this project, it’s quite easy to stake Cardano.
All you have to do is to download Cardano mobile wallet ( Daedalus or Yoroi), purchase the Cardano token, also known as ‘ADA’ and access the staking feature, the process is quite simple, you should be done in few minutes.
You can also stake on popular exchanges such as Binance, Kraken etc OR Run a pool that incurs a cost.
Cardona Staking reward.
If you considering building your wealth slowly in the safest way possible, the Cardano project will help you with that.
Charles Hoskinson says the Cardano staking project is for investors who will like to play it safe and prefer to invest in top ten ranked coins globally that offers 5 per cent return for 10 years than on low ranking coin with 25 per cent that has a high chance of fading off in the crypto market.
Cardano offers about 6.12% APY if you stake ‘ADA’ via delegate staking
Below are important details regarding Cardano staking return
A practical example of Cardano staking return
Assuming you stake Cardano worth of 1000 dollars, at the end of the year you should be expecting 61 dollars in return if the price remains the same without lifting a finger.
Tezos is one leading cryptocurrency that advocates for a global, decentralized, community-governed digital future. In Tezos, its developers act to the command of its users. New project ideas are proposed by its users via vote.
Tezo is said to be better than the large network – Etherum when it comes to scalability and transactions speed.
Arthur and Kathleen Breitman, the power couple behind this project stated that the primary focus of the Tezos tokens is ‘governance’ and the right for all its users to vote in project proposals which is the biggest failing of Bitcoin.
Tezos price ( Based on the time of writing this blog post)
Tezos token ‘XTZ’ is worth 7.03 dollars with a market ranking of #32 and a market cap of 6 billion dollars.
Why you should stake Tezos
The price charts indicate that Tezos is booming this year.
In an interview, Breitman hinted that Tezos recently hit 10 million contract calls in the network.
The intriguing part, she mentioned that ” 5 million of those contract calls came in the last three years and the other 5 million in the last eight weeks. A lot of that was motivated by surging demand of NFT(non-fungible token) and another driving usage of the network are in gaming “
Tezos is expected to be a great long term staking investment since is environmentally friendly, unlike Etherum.
Ways to stake Tezos
Tezos can be a stake in two ways; Delegate staking and Baking. To be able to qualify to delegate, first, you need to have the minimum token requirement which is 8, 000 XTZ.
However, there is a chance to stake lower than the specified amount through Exchange and wallets.
A beginner who doesn’t possess the technical expertise needful to run a node should consider the alternative – staking on exchange and wallet
Tezos staking rewards
Tezos investors earn approximately 6 % In yearly return by staking. Baker earns quite more.
Below are a graphical representation of Tezos staking rewards
Unlike the one we learned in elementary mathematics, the polygon is one of the crypto assets most investors are closely monitoring.
The cryptocurrency is built by a group of developers to improve the Etherum network. It’s a crypto assets build by the developers for the developers.
Polygon went live in 2017, since then it has been moving forward in the crypto market although still faces the crypto market volatility
Polygon price – At the time of writing this blog post
Polygon is traded for around 1 dollar. Its current coinmarketcap ranking is #22 with over
8 billion dollars market cap.
The price below shows Polygon price movement since last year
Why you should stake polygon
The reason polygon is remarkable is that it has a layer 2 scaling solution, this means that it does not need to upgrade its current blockchain any time soon.
Another key reason, the polygon is developed to support a wide range of decentralised finance ” DEFI’ present in the ethereum blockchain which means the higher the usage, the higher the return in long run.
Ways to stake polygon
Polygon can be a stake in two ways, choose to be a delegate or validator.
As a delegator, you give out your tokens and the computing power to a validator, this is commonly used for investors who do not have the technical proficiency to validate a full note.
Various Exchanges and mobile wallet backed Polygon staking.
Polygon staking reward
Polygon offers a 14.81 % annual return on your investment(not bad, not bad.).
Nonetheless, these prices change with little percentage on various exchanges and wallets.
Algorand, one of the latest projects designed to enlarge the way cryptocurrency is used by improving transactions speed and lessening the time it takes a transaction to be verified in a given network.
Similar to polygon, Algorand is a project built by developers for developers. It was launched back in 2019 by professor Silvio Micali.
Since its creation, the project has been used in real estate, microfinance etc
Algorand price ( Based on the time of writing this blog post)
Algorand is traded for about $1. Its current coinmarketcap ranking is #12 with over
11 billion dollars market cap.
Why you should stake Algorand?
Algorand is based on a pure proof of stake protocol with the high transaction as regard to slow transaction times of Etherum and Bitcoin.
In addition, Algorand circulation will end in 2030, which suggest that cryptocurrencies are likely to be scarce in the future which can boost price value.
Ways to stake Algorand
Algorand can be stake with exchanges like Binance Coinbase, Kranken etc or Algorand official wallets. One can be a validator in the network by simply staking 1 Algorand.
Algorand staking rewards
Algorand offers 5% returns yearly on your investment.
In real meaning, the world Cosmos means ‘universe’. In the crypto market, its meaning is a bit similar.
Cosmos is a decentralized digital asset that permits data exchange between different blockchains.
The project is similar to that of the polygon.
In contrast to polygon that focuses on Etherum blockchain, cosmos will be focusing on all the blockchains and promote interoperability between them.
Cosmos market value ( Based on the time of writing this article )
Cosmos is worth 38 dollars, with a 9 billion dollars market cap. Cosmos is currently ranked at position #21 according to coinmarketcap.
Why you should stake Cosmos?
Over hundreds of thousands of cryptocurrencies are on the market space, only a few can interact with each other, cosmos ends the misery by making it possible for inter-Network communication.
This is the reason Cosmos Is valuable in the Blockchain ecosystem.
In long term, cosmos usage is likely to climb up, therefore its value.
Ways to stake Cosmos
Investors can either Delegate their cosmos to a validator to run Or run a validator node themselves.
Delegating- which is the easiest way to stake involve staking with a third-party service provider such as Exchanges, staking a pool and Mobile wallets.
Exchanges that offer this feature include Binance, coinbase, among others. List of Third-party providers.
To start with Cosmos staking, you need to have a minimum of 0.05 Cosmos in your possession.
Cosmos staking rewards
Cosmos depends on the type of staking are practising. If you are a delegator, you will be earning a return of about 9.63 % yearly. Validators earn 10.66% annual per yield.
This is a blockchain technology built to allow a wide variety of Blockchain to communicate with each other.
Icon purpose is to act as a sort of connection between various networks.
Since its creation in 2017, ICON has worked with a significant number of companies that make use of this technology, mainly in the government, finance and healthcare sectors
ICON market value – At the time of writing this article
1 ICX is worth 2.15 dollars with a market cap of about 1.4 billion dollars. ICX is currently ranked at position #74.
Why you should stake ICON?
ICON is a blockchain protocol for decentralised applications that are backed by big companies such as Samsung, shinhan bank, saramin, Seoul metropolitan government among others.
Ways to stake ICON
To support the ICON ecosystem, you can simply stake icon token ‘ICX’ through exchanges or ICON official wallet.
ICON staking rewards
ICON offers one of the highest returns for blockchain staking, approximately 11 % APY. The more you stake, the more you earn.