The crypto industry is maturing, and staking is becoming an increasingly favored method for people to earn passive income in the crypto space. As DeFi and other crypto-based projects gain more traction and generate more interest from investors, 2023 is on track to be another big year for staking and other related services.
With that in mind, here are three of the best staking cryptos of 2023: Solana (SOL), DigiToads (TOADS), and Chainlink (LINK).
Solana Staking
Popular among DeFi tokens, Solana was created with scalability in mind. The blockchain’s ability to permit fast transactions at cheap rates has caused its market success in 2021. In just a year, the price of Solana jumped from roughly $18 to over $100.
Although the value of Solana has plummeted since the beginning of 2023, the coin continues to keep its momentum among developers. Depending on the platform, staking this cryptocurrency might yield between 7% and 11% annual profits.
DigiToads, a cutting-edge meme coin, has several characteristics that might shake up the cryptocurrency market, including NFT staking. NFT Staking on DigiToads is a one-of-a-kind feature of the DigiToads ecosystem that allows users to gain incentives by keeping and staking their NFTs.
Each time a TOADS is traded, a small percentage of the transaction fee is added to the staking pool and distributed to NFT holders who have activated staking. An NFT holder will receive more payouts the longer the token is staked. Consequently, the platform’s liquidity improves as users are encouraged to hold their NFTs longer.
To ensure community members are always rewarded for their involvement, the treasury fund replenishes the prize pool regularly, and top performers are distributed their share regularly. This novel feature creates a stream of passive income for NFT holders and positions DigiToads favorably among cryptocurrency investment options.
How can you stake Chainlink?
One of the most promising digital currencies, Chainlink, has attracted considerable investor interest. It bridges the gap between digital ledgers and physical information. Chainlink stands out as the most advanced oracle system due to its many available integrations and partnerships.
While the Chainlink Network does not yet facilitate staking, tokens can be staked on external platforms where they will earn interest. You can invest your funds in a crypto interest account and earn up to 9% APY if you acquire Chainlink and retain the coins for the long term while waiting for capital gain.
Bottom line
2023 is sure to be an exciting time for cryptocurrency as these three projects make their mark in the staking world.
Solana (SOL), DigiToads (TOADS), and Chainlink (LINK) all bring something unique to the table when it comes to staking and offer great potential in terms of returns, security, and scalability.
