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5 Best Crypto Staking and Rewards Platforms of May 2022

Mar 16, 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 picks for

crypto platforms

Gemini
Learn more

on Gemini's website

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

Learn more

on Gemini's website


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

BlockFi

4.5

NerdWallet rating 
BlockFi

Fees

$0

spread of about 1%

Account minimum

$0

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Pros

  • Ability to earn interest on bitcoin.

  • One free withdrawal each month.

Cons

  • Services are limited in several states.

  • Website is not easy to navigate.

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 $10 in FREE Bitcoin

on all newly approved accounts.

Learn more

on TradeStation's website


Promotion

Get $10 in FREE Bitcoin

on all newly approved accounts.

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.

Kraken

Kraken's staking rewards are available for 10 cryptocurrencies, and they go as high as 20% 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.

Crypto.com

Crypto.com offers its services to U.S. users largely through its mobile applications, and the staking and rewards programs vary widely depending on which app you use. Its main Crypto.com app has staking available only for the native CRO token of the exchange, and it comes with a 180-day lockup period. However, users can also participate in an “Earn” program in which they can get rewards on dozens of other cryptocurrencies. The rewards 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 14 percent. Crypto.com also has some staking and rewards offerings on its separate DeFi Wallet application.

Crypto.com's rewards offering: 4.5 out of 5 stars.

Gemini

Gemini's has 43 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 from 0.74% to 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.

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 6% 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: 4 out of 5 stars.

BlockFi

BlockFi, which pays interest on cryptocurrencies but does not offer staking, has rewards available for 13 cryptocurrencies. It allows users to withdraw anytime, but those transactions may carry fees depending on the timing and the cryptocurrency being used. Rates range from 0.1% to 9.5% APY, and rewards are distributed monthly.

BlockFi's rewards offering: 4 out of 5 stars.

Last updated on March 16, 2022

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Marcus by Goldman Sachs Online Savings Account

5.0

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

0.60%

With $0 min. balance for APY

at Marcus by Goldman Sachs, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

0.60%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

LendingClub High-Yield Savings

5.0

NerdWallet rating 
LendingClub High-Yield Savings

APY

0.85%

With $0.01 min. balance for APY

at LendingClub Bank, Member FDIC

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 May 2022