Which Cryptocurrencies Can Be Staked?
Staking is a popular way to earn rewards in the cryptocurrency space. Not all cryptocurrencies can be staked; however, many prominent ones allow users to participate in staking. Below is a list of some of the most common cryptocurrencies that can be staked:
- Ethereum (ETH): After its transition to proof-of-stake with Ethereum 2.0, ETH can be staked for rewards, helping secure the network.
- Cardano (ADA): ADA holders can stake their coins to support the network and earn rewards through various staking pools.
- Solana (SOL): Users can stake SOL tokens to earn interest while contributing to the network's security.
- Polkadot (DOT): DOT holders can stake their tokens to participate in the network’s governance and earn rewards.
- Tezos (XTZ): XTZ can be staked to earn rewards while participating in the network's consensus process.
- Algorand (ALGO): ALGO holders earn rewards simply by holding the coin, making it an attractive staking option.
- Cosmos (ATOM): ATOM can be staked to earn rewards and take part in governance decisions.
Before staking, it's essential to research each cryptocurrency's staking requirements, rewards, and risks involved to make informed decisions.