Cryptocurrency has been gaining more traction in recent years, and with it, the demand for convenient and secure wallets that offer a range of features crypto wallet. One of the most attractive features for crypto enthusiasts is staking, which allows users to earn rewards by holding and locking their digital assets in a wallet to support the operations of a blockchain network. If you’re looking to both store and stake your crypto in one place, here are some of the best crypto wallets with integrated staking features.
What is Staking?
Staking is a process in which cryptocurrency holders participate in the validation of transactions on a proof-of-stake (PoS) blockchain by locking up their coins. In return, they earn staking rewards, which are typically paid out in the form of more cryptocurrency. Many blockchain networks rely on staking to secure their networks, as opposed to the energy-intensive proof-of-work (PoW) method.
Key Features to Look for in a Staking Wallet
When choosing a crypto wallet with staking features, here are some important aspects to consider:
- Security: The wallet should offer robust security features, including private key management, two-factor authentication (2FA), and backup options.
- Ease of Use: A user-friendly interface is crucial, especially if you’re new to staking.
- Supported Assets: Make sure the wallet supports the coins and tokens you want to stake.
- Fees: Some wallets charge fees for staking. Be sure to compare the staking rewards with any associated costs.
- APY (Annual Percentage Yield): This is the annual return you can earn from staking. Different wallets may offer varying APYs for different coins.
- Control: Some wallets give you full control over your staked coins, while others may lock them for a certain period.
1. Exodus Wallet
Supported Cryptos: Cardano (ADA), Solana (SOL), Polkadot (DOT), Ethereum 2.0 (ETH), and more.
Staking Rewards: Varies by cryptocurrency, typically offering competitive APY.
Best For: Beginners and intermediate users.
Exodus is a popular software wallet that combines ease of use with powerful features, including an integrated staking platform. With Exodus, you can stake a variety of cryptocurrencies, such as Cardano, Solana, and Polkadot, directly within the wallet. The wallet provides real-time rewards and an intuitive user interface, making it an ideal choice for those just starting with staking. Exodus does charge a small fee for staking, but the rewards are generally competitive.
Pros:
- User-friendly interface
- In-app staking rewards tracking
- No minimum staking requirements
Cons:
- Limited to the assets Exodus supports
- Staking fees may reduce overall returns
2. Trust Wallet
Supported Cryptos: Binance Coin (BNB), Ethereum (ETH), Cosmos (ATOM), and others.
Staking Rewards: Varies by asset, with some offering attractive returns.
Best For: Users who want a mobile-first experience.
Trust Wallet is a mobile wallet that allows users to store and stake a wide variety of cryptocurrencies. It has a straightforward staking feature that’s easy to access, and it supports popular assets like Binance Coin (BNB), Cosmos (ATOM), and many others. Trust Wallet is known for being secure, with private keys stored on your device, and it doesn’t charge any fees for staking. The platform also provides a simple way to monitor your staking rewards.
Pros:
- Supports a wide range of assets
- Mobile-only app for on-the-go staking
- No staking fees
Cons:
- Limited support for certain lesser-known tokens
- Mobile-only; no desktop app
3. Ledger Live (Ledger Hardware Wallet)
Supported Cryptos: Ethereum (ETH), Cardano (ADA), Tezos (XTZ), and more.
Staking Rewards: Varies, but typically offers strong returns with the added security of hardware storage.
Best For: Security-conscious users.
For those who prioritize security, Ledger Live offers a hardware wallet with integrated staking features. The Ledger Nano X and Nano S devices support staking for popular cryptocurrencies like Ethereum 2.0, Cardano, and Tezos. The Ledger Live app allows you to stake directly from the device, while keeping your private keys offline and protected. While the process is slightly more involved than a software wallet, the additional security makes it a great option for long-term holders.
Pros:
- Excellent security with hardware wallet features
- Supports a broad selection of cryptocurrencies for staking
- High-level control over your staked assets
Cons:
- Requires purchasing hardware wallet
- Slightly more complex than mobile or desktop-only options
4. Coinbase Wallet
Supported Cryptos: Ethereum (ETH), Tezos (XTZ), Cosmos (ATOM), and others.
Staking Rewards: Competitive rewards, especially for Ethereum 2.0 and Tezos.
Best For: Users looking for both staking and easy exchange integration.
Coinbase Wallet is a highly trusted and widely-used wallet in the cryptocurrency space, with easy access to the Coinbase exchange. Coinbase allows you to stake several coins, including Ethereum 2.0 and Tezos, directly within the wallet. It’s an excellent choice for users who want to seamlessly move between buying, trading, and staking their assets. Coinbase takes a commission on staking rewards, but it’s very user-friendly and trusted by both beginners and seasoned users.
Pros:
- Easy to use and trusted platform
- Seamless integration with Coinbase exchange
- Strong customer support
Cons:
- Coinbase takes a commission on staking rewards
- Limited crypto staking options compared to other wallets
5. Mycelium
Supported Cryptos: Bitcoin (BTC), Ethereum (ETH), and others.
Staking Rewards: Varies, depending on the cryptocurrency.
Best For: Advanced users who prefer total control.
Mycelium is a mobile wallet that has been a favorite among privacy-conscious users. It offers a range of features, including the ability to stake Ethereum and other assets through its integration with third-party platforms like the Bity service. While it’s not as beginner-friendly as some other options, it gives users a high degree of control over their private keys and the staking process.
Pros:
- High degree of control over staking
- Advanced privacy features
- Supports a variety of coins and tokens
Cons:
- Limited staking options compared to other wallets
- Not as beginner-friendly
Final Thoughts
Selecting the right wallet for staking depends on your level of experience, security preferences, and which cryptocurrencies you want to stake. For beginners, wallets like Exodus and Trust Wallet provide simplicity and ease of use. Meanwhile, advanced users looking for better security might prefer a hardware wallet like Ledger Live. Coinbase Wallet is ideal if you’re already using the exchange, and Mycelium is great for users who want more control over their crypto.