Cryptocurrencies have restructured global economics by incorporating decentralized finance (DeFi) in place of the traditional finance system which actually offers all the financial services like lending, borrowing, and even earning interest.
In the DeFi staking process, you need to lock your crypto on a DEX (Decentralized Exchange) platform for any of the ways of earning- liquidity mining, yield farming, or liquidity pool. DeFi staking platform development comes in three main stages, namely- smart contract, crypto wallet, and security testing.
Why is a DeFi staking platform preferred?
There are two major reasons for the inclination of crypto enthusiasts towards the DeFi staking platform, those are-
- Full authority over funds which even draws the accountability for the platform in case anyone misuses it.
- It’s permissionless as DeFi protocols are openly accessible without having any intermediary or third party which makes it a free and fair system.
DeFi staking platforms to consider
- Binance
Binance is one of the prominent crypto staking platforms, especially for users who want to earn high rewards because it usually holds daily trading volume ranging between $50 and $100 billion. It offers zero staking fees, daily interest revenues, high rewards even up to 120% APY and holds 100+ cryptos available for staking.
- Coinbase
Coinbase is the world's most trustworthy cryptocurrency exchange platform and is considered the best crypto staking platform for beginners with a user-friendly interface. It supports six currencies for staking- Ethereum, Algorand, Cosmos, Tezos, Dai, and USDC. There is no minimum staking limit n this platform.
- DeFi Swap
A brand new cryptocurrency exchange and one of the top DeFi staking platforms that can be used right now. The platform offers 4 staking periods- 30 days, 90 days, 180 days, or 365 days. Here, the token holder can stake DeFi Coin and earn interest up to 75% APY depending upon the chosen period.
Wrap up
Overall, DeFi staking is considered a good investment in the DeFi space for its good returns thereby attracting more crypto fans to stake and earn. However, out of numerous DeFi staking platforms, the top 3 mentioned above are considered reliable and fruitful to work on.
For prominent DeFi staking platform development, partner with a trustworthy blockchain development company and go stake!
