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6 Best Crypto Staking and Rewards Platforms of August 2022

Jul 1, 2022

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While cryptocurrency marketplaces have traditionally been focused on providing a place for people to buy and sell digital assets, many have introduced rewards programs designed to help people get additional value out of their holdings.

These programs vary in their specifics. Some reward people for "staking" their cryptocurrency, or using it to help verify transactions on the underlying blockchain network. Others offer lending programs in which people can earn interest on their assets by holding them on a platform. This list considers exchanges that have been reviewed by NerdWallet and offer customers a way to use their cryptocurrencies to earn rewards. Detailed information on each platform's rewards program is included below.

When choosing an exchange for staking or rewards, factors to consider include the rates at which you can earn rewards, how often they're paid out, how easy it is to pull your holdings out of the program and the number of eligible cryptocurrencies. We also looked at key features for any exchange service, such as customer service options, website quality and mobile app ratings.

Before choosing a program, be sure to review the terms and technical aspects in detail to make sure you feel the rewards balance out the potential risks. Also keep in mind that state regulations on crypto staking and lending vary, so not all of these services may be available where you live.

Best Crypto Staking and Rewards Platforms

Our pick for

crypto platforms

Gemini

5.0

NerdWallet rating 
Gemini

Fees

0.5% - 3.99%

depending on payment method and platform

Account minimum

$0

Promotion

$20 of BTC

for new users after trading $100 or more within 30 days


Promotion

$20 of BTC

for new users after trading $100 or more within 30 days

Why we like it

For casual investors, Gemini offers a trading platform that’s easy for beginners, but a confusing fee structure that’s higher than some cryptocurrency exchanges.

Pros

  • More than 50 cryptocurrencies.

  • Site insurance of digital assets against exchange hacks.

  • Available in all U.S. states.

Cons

  • Higher fees than some other crypto exchanges.

Read Full Review

Kraken

5.0

NerdWallet rating 
Kraken

Fees

0.9%-2%

varies by type of transaction; other fees may apply

Account minimum

$0

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Pros

  • Large selection of digital assets.

  • Low fees for advanced traders.

Cons

  • Limited options for funding accounts.

  • Not available in all U.S. states.

Read Full Review

Crypto.com

4.5

NerdWallet rating 
Crypto.com

Fees

0%-2.99%

Varies by type of transaction; other fees may apply

Account minimum

$0

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Pros

  • Large selection of crypto assets.

  • Fees are low if you fund your account with cash transfers.

Cons

  • Fees for credit and debit purchases are relatively high.

  • Some services not offered in the U.S.

  • No crypto-to-crypto trading.

Read Full Review

Coinbase

5.0

NerdWallet rating 
Coinbase

Fees

0.5% - 4.5%

varies by type of transaction; other fees may apply

Account minimum

$2

Promotion

Get $5 in Bitcoin

when you make your first trade. Terms Apply.


Promotion

Get $5 in Bitcoin

when you make your first trade. Terms Apply.

Why we like it

Coinbase is the largest U.S.-based cryptocurrency exchange, trading more than 30 cryptocurrencies. Its fees, however, can be confusing and higher than some competitors. While Coinbase offers attractive security features, cryptocurrency trading is highly volatile: Always consider the risks.

Pros

  • Offers access to nearly 100 cryptocurrencies.

  • Low minimum to fund account.

Cons

  • Higher fees than other cryptocurrency exchanges.

Read Full Review

FTX.US

5.0

NerdWallet rating 
FTX.US

Fees

0%-0.4%

Account minimum

$0

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Why we like it

FTX has low fees for cryptocurrency trading, with a decent selection of digital assets on offer. It also has some features for advanced traders, including the ability to trade between cryptocurrencies and multiple national currencies.

Pros

  • Low withdrawal fees.

  • Advanced trading options.

Cons

  • Limited support options.

  • Smaller selection of cryptocurrencies than some competitors.

Read Full Review

Our pick for

traditional brokers

TradeStation Crypto
Learn more

on TradeStation's website

TradeStation Crypto

4.5

NerdWallet rating 
TradeStation Crypto

Fees

0.30%

or lower for larger balances

Account minimum

$0

Promotion

Get $150 in Bitcoin

when you purchase or deposit $500 in Crypto. Offer Code: NERDAGCT.

Learn more

on TradeStation's website


Promotion

Get $150 in Bitcoin

when you purchase or deposit $500 in Crypto. Offer Code: NERDAGCT.

Why we like it

TradeStation Crypto charges 0.3% or lower on crypto trades, and unlike many other brokerages enables users to transfer crypto to a personal wallet.

Pros

  • Lower fees compared to most cryptocurrency exchanges.

  • Allows transfer of cryptocurrency assets to a personal crypto wallet.

  • Convenient if you already have a TradeStation brokerage account.

Cons

  • Comparatively fewer cryptocurrencies offered.

Read Full Review

More about our picks

The star ratings above represent the provider's overall score across a variety of categories. Below, we've included more detail about how we rated these providers specifically for their staking and rewards offerings.

Crypto.com

Crypto.com offers its services to U.S. users largely through its mobile applications, and the staking and rewards programs vary depending on which app you use. Its main Crypto.com app pays out rewards on about 50 cryptocurrencies. The returns vary based on factors including how long you’re willing to lock up your crypto, but the platform says they can be as high as 12.5%. Crypto.com also has some staking and rewards offerings on its separate DeFi Wallet application.

Crypto.com's rewards offering: 5 out of 5 stars.

Kraken

Kraken's staking rewards are available for more than a dozen cryptocurrencies, and some exceed 23% per year, which is tops among the platforms reviewed by NerdWallet (make sure you look at the rate for the cryptocurrency you want to use). The service also gets high marks for the liquidity it offers. There's no minimum time you need to stake your cryptocurrency to earn rewards, though you earn more the longer you stake. Rewards are distributed either once or twice a week, depending on the cryptocurrency being used.

Kraken's rewards offering: 5 out of 5 stars.

Gemini

Gemini's has over 40 cryptocurrencies for which rewards are available, the largest number among platforms reviewed by NerdWallet. Though it does not advertise its offering as a traditional staking program, its "earn" features pay out interest on certain cryptocurrencies. Rates range as high as 8.05% APY. Gemini has some limits on liquidity; users can request the return of their cryptocurrencies anytime but may wait up to five business days to receive them. Rewards are distributed daily.

Gemini's rewards offering: 4.5 out of 5 stars.

Coinbase

While Coinbase has a limited selection of coins that are eligible for staking and rewards on its main platform, users of the Coinbase wallet service (which allows users to keep crypto in their own custody) have additional options. There are five assets available on the main platform, with rewards up to 5%. On the wallet service, 26 assets are available, with rewards approaching the 15% range. If you're staking on Coinbase's main service, make sure you pay careful attention to the terms around liquidity. The company says that redemptions may take some time to unlock "in rare circumstances." Rewards payout rates depend on the asset you're staking, and they range from daily to quarterly.

Coinbase's rewards offering: 4.5 out of 5 stars.

FTX

FTX has a relatively simple program available on its mobile application. If you opt into the program, you can get up to 8% APY on whatever you're holding on the platform — even U.S. dollars. The rewards rate drops to 5% for any amount you hold in excess of $10,000. FTX has 21 cryptos on its app. You can withdraw or spend assets held in the program any time, and the rewards are calculated hourly.

FTX's rewards offering: 4.5 stars.

TradeStation

TradeStation, known mostly as a platform for trading stocks, also offers a cryptocurrency platform. Among its offerings is a lending program that pays interest on cryptocurrency.  While its selection is somewhat small, with five cryptocurrencies eligible for rewards up to 5% per year, TradeStation offers liquidity to participants that rivals any of its competitors. Digital assets earning interest can be traded in the same way as those not earning interest. Rewards are distributed monthly.

TradeStation's rewards offering: 3.5 out of 5 stars.

Last updated on July 1, 2022

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4.5

NerdWallet rating 
American Express® High Yield Savings Account

APY

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LendingClub High-Yield Savings

5.0

NerdWallet rating 
LendingClub High-Yield Savings

APY

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Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

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Methodology

How do we review cryptocurrency platforms?

NerdWallet’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

For more details about the categories considered when rating brokers and our process, read our full methodology.

To recap our selections...

NerdWallet's Best Crypto Staking and Rewards Platforms of August 2022