3 Best Crypto Staking and Rewards Platforms of October 2023
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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.
And don't forget that centralized exchanges carry their own risks. Keeping your crypto in the custody of a third party can leave you vulnerable to losses if the company suffers a breach or financial collapse, as happened to FTX in the fall of 2022. Another option, which requires a bit more know-how, is staking crypto from your own wallet without having to trust a third party to do it for you.
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.
And don't forget that centralized exchanges carry their own risks. Keeping your crypto in the custody of a third party can leave you vulnerable to losses if the company suffers a breach or financial collapse, as happened to FTX in the fall of 2022. Another option, which requires a bit more know-how, is staking crypto from your own wallet without having to trust a third party to do it for you.
Best Crypto Staking and Rewards Platforms
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 Coinbase Learn more on Coinbase's website | Best for crypto platforms | 0% - varies by type of transaction; other fees may apply | $0 | Get $200 in crypto when you sign up. Terms Apply. | Learn more on Coinbase's website |
 Binance.US | Best for crypto platforms | 0%- depending on payment method | $0 | None no promotion available at this time | Read review |
 Crypto.com | Best for crypto platforms | 0%- Varies by type of transaction; other fees may apply | $0 | None no promotion available at this time | Read review |
Our pick for
crypto platforms
0% - 3.99%
varies by type of transaction; other fees may apply
$0
Get $200 in crypto
when you sign up. Terms Apply.
Pros
Offers access to more than 250 crypto assets.
Low minimum to fund account.
Quick crypto withdrawals.
Cons
Higher fees than other cryptocurrency exchanges.
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.
0%-0.6%
depending on payment method
$0
None
no promotion available at this time
Pros
Large selection.
Low fees on crypto-to-crypto trades.
Cons
Major regulatory concerns.
Does not accept U.S. dollars.
Why We Like It
The U.S. arm of the world’s largest cryptocurrency exchange by trading volume, Binance.US offers trading of more than 50 cryptocurrencies.
0%-4%
Varies by type of transaction; other fees may apply
$0
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.
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.
Coinbase
Coinbase has a limited selection of coins that are eligible for staking and rewards on its main platform, where there are six assets earning up to about 10%. 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. Rewards payout rates depend on the asset you're staking, and they range from daily to weekly.
Coinbase's rewards offering: 4.1 out of 5 stars.
Binance.US
Binance.US has a decent selection of coins that can earn interest at about 17 and its rewards earnings top out at about 17%. Binance.US users were previously able to trade staked coins, however that is no longer an option. Rewards are calculated daily, but only distributed weekly. It's important to distinguish Binance.US from its global parent company Binance, which has a much larger selection of cryptocurrencies available.
Binance.US's rewards offering: 3.9 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 depending on which app you use. Its main Crypto.com app pays out rewards on more than 20 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: 3.5 out of 5 stars.
Last updated on August 1, 2023
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).
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 October 2023
- Coinbase: Best for crypto platforms
- Binance.US: Best for crypto platforms
- Crypto.com: Best for crypto platforms
