Crypto staking has been rapidly growing due to the promising passive rewards it offers! Staking involves users locking up their crypto assets to earn rewards in return. Regarding crypto staking, we need to keep some important factors in mind.
Annual Percentage Yield (APY)and volatility are vital in determining the best altcoins to stake in 2024. The most apt crypto for a person to stake depends on his goals and risk tolerance—high APY tokens like Bitcoin Minetrix and TG.Casinos offer great returns and come with higher risks. However, stablecoins like Tether provide more security in volatile markets.
This report by Coinpedia has compiled all the essentials you need in your kit while exploring the best altcoins to stake in 2024!
Key Points to Consider
While choosing the right option for you, metrics like these shall be considered:
Consider the most crucial metric for staking, which is APY! It is the percentage return on the crypto asset you stake. Different tokens have different values of APY. Choose before you stake!
The return is mostly estimated based on the total value locked and the network's popularity. The more investors are involved, the more rewards are split among the validators. Make a goal about how much you wish to earn out of staking!
- Validator or delegator
Validators run a node and participate in staking, which requires more technical knowledge. Meanwhile, delegators are token holders who wish to participate in staking, instead choosing to use and trust an existing validating node and delegate their tokens to that node. Validators generally earn a little more, taking a small fee from delegators' rewards in exchange for running the node. Decide what's your category!
Taxation on staking depends on the region you are working in! Staking rewards are treated as taxable in some countries. It is essential to check that the coin you are staking offers good reporting through your chosen platform! Also, know about all taxation policies in the area of operations.
- Staking platforms
Innumerable staking platforms are available in the market that can help you get started. Always do your research before choosing the one for you! Consider the prime points like platform fees, etc.
Top 10 Altcoins to Stake in 2024
- Smog
APY: 42%
$SMOG is ranked as the best staking coin by cryptonews.com. It caught investor attention as a viral meme coin on the Solana blockchain since its recent launch on the Jupiter DEX. Investors can earn rewards by holding tokens and completing targets, supported by a 42% APY staking yield with a 90-day lock-in period. Beginning its journey at $0.001419, its price surged by over 3000% to $0.047, boosting its market cap from $2 million to over $64 million.
This growth makes Smog a potential rival to coins like Bonk, Myro, and Dogwifhat. Also, Smog's fair launch approach with no presale has boosted its credibility. The platform dedicates 50% of its supply to marketing, aiming for broad adoption and community expansion. Additionally, 10% of the supply is reserved for future centralized exchange listings and 5% for decentralized exchange liquidity. Smog offers an astounding opportunity for investors in a new crypto project with a high staking yield and growth potential.
- Bitcoin Minetrix
APY: Above 500%
This stake-to-mine crypto offers tokenized cloud mining credits. $BTCMTX is a new cryptocurrency that combines token staking and cloud mining. On this platform, token holders can stake $BTCMTX and earn cloud mining credits. It is offering staking rewards and APYs as high as 190%. To stake with this, one needs to buy $BTCMTX through the ongoing presale.
From a total supply of 4 billion – 2.8 billion tokens are being allocated equally across ten presale rounds. During the current round, $BTCMTX is priced at $0.0114 per token. The price will jump to $0.0148 by the final round (stage 39). Also, the platform has an exciting minedrop with $30K rewards for early backers.
Bitcoin Minetrix has already raised $3.1 million in just over a month since the presale began.
Isn't it an exciting project? We place our bets on the Bitcoin Minetrix!
- Sponge V2
SpongeBob token V2 has moved to launch on Polygon and was seen making waves in February 2024. With this new network switch, Sponge V2 offered thrills to investors as they experienced a staggering 56% price gain.
Furthermore, the project aims to provide up to 7,500% returns to active SPONGE V2 stakers. Despite skepticism surrounding meme coins, the original SpongeBob token has proved itself by achieving a $100 million market cap and rewarding early holders with great returns.
Spine V2 is the new version of $SPONGE! After the V2 launch on exchanges, V1 tokens won't be supported. The staked tokens will allow us to generate high APYs for the next 4 years! More than 400 million $SPONGE have been staked on the V2 contract. The smart contract is rewarding investors with up to 4000% in APYs. V2 might surge in popularity just like V1. It deserves to be among the top 10 altcoins to stake in 2024!
- Ethereum
Staking rewards: Up to 4.3%
One of the largest cryptocurrencies, Ethereum, has recently shifted from Proof-of-work to Proof-of-stake consensus. It can top the list of the best altcoins to stake in 2024. Ethereum is expected to solve major network concerns like high gas fees, scalability, and transaction speed.
With this new upgrade, investors can stake Ethereum to help secure the network and earn rewards. There is a minimum staking requirement of 32 ETH. ETH currently has a market cap of $148 billion! How can we leave it out regarding the best altcoins to stake in 2024?
- Meme Kombat
APY: 112%
It introduces a concept where popular memes engage in AI-enhanced combat. The MK tokens can be staked to participate in meme battles, earning an APY of 112%. This unique approach has made Meme Kombat stand out in the staking arena and suitable for the ones with high-risk tolerance.
- eTukTuk
APY: Above 30,000%
It is a campaign launched in Sri Lanka to provide financial inclusion by replacing Tuktuks with electric vehicles. It will be further enhanced with AI for route optimization and task automation. This socio-economic revolution aims to bridge financial barriers while helping the environment with breathing space! eTuktuk is known for giving high APY rewards of 33,487%, with 4.75 per BSC block.
A Total 144,981 of TUK have been staked by now. The TUK token has additional benefits like discounts and bonuses for its usage. eTuktuks are zero emission vehicles which are eco-friendly! The whitepaper highlights the ill-effects of pollution and how the project solves it efficiently.
- Cardano
One of the best staking tokens, it is one of the best proof-of-stake blockchains in 2024. ADA can be staked on the Cardano network to earn yearly interest in return for validating blocks on the blockchain. With an average of 75,000 transactions per second, Cardano is one of the fastest networks in the blockchain space. After launching at $0.076 in 2017, it reached an ATH of $3.10 in 2021.
If we stake Cardano on Kraken, an APY of 3-6% can be attained and 5% APY can be received from Atomic Wallet.
- Doge Uprising
$DUP is a Doge-inspired Ethereum-powered crypto token with a focus on manga and storytelling. The story is set in the year 2045, when Mark Zuckerberg has the world under total surveillance. Only a group of brave Doge Mecha NFTs, commanded by pilots (NFT owners) and led by Elon Musk, can save the day. Investment in a Doge Mecha NFT is more than a financial endeavor, rather a commitment to fight against global tyranny. It's also a community-focused project. The project intends to host multiple AMAs and liaison with several prominent influencers in the future.
The price per DUP is $0.00013. ETH, USDT, and BNB could be used to purchase the token. Wallet Connect and MetaMask are required to connect to the presale listing page. There are a total of 450 billion $DUP tokens, of which 270 billion (60%) are available in the presale. 10% of the supply, 45 billion $DUP, is also allocated to airdrops.
Rush to get your hands on $DUP in order to make the best out of your staking game in 2024!
- Tether
Tether is a stablecoin pegged to the US dollar! It offers stability in a highly volatile crypto market. It is preferred by the ones who wish to avoid high price volatility. It is extremely popular in the crypto community and has the third-largest market cap in the crypto market!
- TG.Casino
APY: Above 600%
It is a licensed and KYC-free casino accessible via Telegram! The project claims that it could be very popular in near future and might disrupt the traditional casino industry soon. By staking TGC tokens, one can enjoy an APY of over 600%.