Stacks is a Bitcoin layer that functions as an independent blockchain. It operates on Proof of Transfer (PoX) consensus, which utilizes Bitcoin’s security and other capabilities. The network plays an instrumental role in bringing smart contracts and dApps to the Bitcoin ecosystem. STX is its native token that powers the Stacks platform. It’s used for executing smart contracts, paying fees, and staking purposes, too.
STX holders can lock their tokens and participate in the network while earning rewards. Stacks are also known for some other salient attributes. It deploys the Clarity programming language for executing smart contracts. The program enhances the predictability and safety of its operations. Lately, many platforms have started offering STX staking as it has gained popularity. So let’s explore the top platforms to stake STX to see what they offer.
Top Platforms to Stake STX
STX holders can engage in staking with non-custodial wallet pools, liquid staking solutions, regulated investment products, and centralized exchanges.
Xverse
Xverse is a non-custodial wallet that facilitates staking of multiple tokens, including STX. With up to 10% APY, it makes rewards quite attractive for STX holders. The platform works as a desktop browser extension and as a mobile app on Android as well as iOS. It is specifically known for being a gateway to Bitcoin’s Web3 space. Users can manage a wide array of Bitcoin-native assets with it.
They send, receive, and store the likes of Ordinals, Runes, and BRC-20 tokens. Besides them, the wallet gives access to DeFi apps on Layer 2 networks such as Bitlayer and Stacks. The simple interface makes overall usage convenient for beginners and proficient users. Furthermore, Xverse offers the option of cloud backup to make asset recovery easier. For security, it conducts regular audits and supports hardware wallets.
StackingDAO
StackingDAO functions as a decentralized protocol on the Stacks network. It allows STX holders to engage in liquid staking and earn handsome rewards. The principal token is represented by liquid tokens like stSTXbtc and stSTX. These assets can be utilized on various DeFi protocols to gain liquidity as well as yield. The liquid tokens accrue value, which is compounded daily and generates rewards. It’s certainly one of the top platforms to stake STX.
STX holders can earn up to 10% rewards while enjoying flexible custody of private keys. Users can go for custodial or non-custodial solutions based on their preference. StackingDAO works like an entry point for a broader DeFi ecosystem. Users gain access to services like Arkadiiko or Velar to earn more yields. At the same time, they enjoy good liquidity, reliable security, and ease of usage.
Ledger
Staking STX on Ledger is a safe method to receive Bitcoin rewards by delegating your Stacks (STX) tokens without losing control over your assets. With a Ledger hardware wallet and either the Hiro Wallet or Xverse wallet, users can safely stake STX without relinquishing custody, as is the case with centralized exchanges. Once Ledger is connected to the selected wallet, users choose a staking pool and lock up their STX for a certain time, receiving BTC rewards using the Proof of Transfer consensus mechanism.
Solo staking requires approximately 100,000 STX, which pools reduce. Staking via Ledger provides protection of stored STX in cold storage, mitigates the risk of hacking, and helps secure the Stacks blockchain on top of the Bitcoin blockchain. This approach is an amalgamation of the highest security ownership and passive revenue opportunities to STX holders who want to receive Bitcoin rewards.
Binance Earn
Binance Earn is a dedicated feature on the Binance exchange that helps users earn passive income. It supports staking, lending, and dual investment to enable users to generate yields. STX holders can earn up to the APY of 10% using fixed or flexible staking models. The platform focuses on bringing ease into the process of staking. Users can effortlessly pick their asset, deposit it, and start staking.
It even makes monitoring and redemption of assets seamless. Rewards can be distributed daily or at regular intervals, depending on the token and conditions applied. In addition, Binance safeguards the amount of the initial deposit from market conditions. The Autosubscribe feature automatically transfers idle assets into services that generate passive earnings. It supports a broad array of cryptos, including stablecoins. Many consider it among the top platforms to stake STX.
Crypto.com
Crypto.com is an exchange that offers a diverse range of solutions to digital asset enthusiasts. The platform works on desktop and as a mobile app with a simple interface. It supports staking of several tokens, including STX, whose holders can earn up to 8% to 11.6% APY. Users can buy, sell, and trade a large number of cryptos, including altcoins and the likes of Bitcoin. They also get a dedicated marketplace for NFTs.
The platform offers crypto-linked debit cards that come with assorted features. Users gain access to loyalty programs, cashback and much more. To maintain robust security, it implements cold storage, insurance, and multi-factor authentication while complying to all regulations. Crypto.com also offers an integrated wallet that gives access to various DeFi protocols. The platform endeavours to bridge the gap between traditional and decentralized finance.
Kiln
Kiln is a staking service provider that exclusively serves businesses and institutions. It provides advanced tools that help firms automate the staking operations. Users can run validators and execute Defi integration seamlessly with this platform. It makes the process easy with advanced tools, smart contracts, pools, and a comprehensive dashboard. Also, it offers APIs for white labeling yield-generating structures into other apps. It’s regarded as one of the top platforms to stake STX.
STX stakers gain varied APY depending on different factors. They enjoy optimized commission and data management, too. Kiln has supported many fintech companies in integrating earning functionality into their products. Various exchanges and wallets have empowered their ecosystem with their services. Companies can opt for dedicated or shared validators based on their preferences.
Figment
Staking Stacks (STX) on Figment is a special chance to get rewards directly in Bitcoin and contribute to one of the most innovative blockchain ecosystems. Stacks is a Bitcoin-based Proof-of-Transfer (PoX) consensus that opens up smart contracts, decentralized applications and other BTC applications without undermining the security of Bitcoin. You can also earn an attractive staking reward rate of 8.36% by staking STX, and the reward is distributed at the block level every minute, which provides a constant stream of incentives.
Figment complements this experience with enterprise-grade infrastructure, professional node management, and in-depth protocol knowledge, so you can maximize rewards and reduce operational risks. Staking STX is associated with being part of the growing ecosystem of Bitcoin and enjoying the long-term growth of the network because of its market capitalization of $1.1B and steadily increasing developer base. Figment is institutional-grade staking, which means that your assets are working safely and you are receiving consistent rewards in Bitcoin, which are paid out in Bitcoin.
CoinUnited.io
CoinUnited.io is a global exchange that delivers a wide array of services to crypto users. Besides digital assets, it offers trading of forex, stocks, and commodities too. Traders gain advantages like fast withdrawals, zero trading fee on spots and leverage up to 2000x. They can buy cryptos using credit/debit cards and bank transfers while experiencing a user-friendly interface and 24/7 customer support.
Investors can deal with over 19,000 markets on this platform. Using the “Stake & Earn” program, token holders can ensure passive earnings. STX holders can earn up to 35% to 125% APY here. The platform is known for making transactions faster, including 5-minute withdrawals. With a scalable trading profile, speed, and high-grade security, CoinUnited.io becomes a go-to option for many investors.
Final Words: Top Platforms to Stake STX
Being a Layer-1 blockchain, Stacks delivers multiple merits to its holders. It offers stability, security, and the efficiency of the Bitcoin network. It does all that without compromising the abilities of the network. Top platforms to stake STX make passive income more accessible and rewarding. Using them, traders can strengthen their earnings while enjoying convenience and plenty of options to explore.
Moreover, they offer flexibility, minimum investment, and much more. They can indulge in diverse DeFi solutions and take their trading to a whole new level.
Frequently Asked Questions
What is STX staking and how does it work?
STX staking, or stacking, enables the holders of the Stacks token to lock their tokens and engage in the Proof of Transfer (PoX) consensus of the network. They, in turn, receive Bitcoin rewards. It enhances the Stacks ecosystem and offers a passive income opportunity.
What are the top platforms to Stake STX?
The top platforms to stake STX are Xverse, StackingDAO, Ledger, Binance Earn, Crypto.com, Kiln, Figment, and CoinUnited.io. These platforms support various requirements, providing the choice of non-custodial wallets, centralized exchanges, institutional-grade services, and liquid staking solutions to be flexible and get a higher yield.
What are the risks involved in staking STX?
The risks are market volatility, custodial risks in the case of tokens being stored on centralized exchanges, DeFi risks in smart contracts, and liquidity limitations during lock-up periods. Hardware wallets such as Ledger and non-custodial wallets are more secure, though the percentage of rewards can be a little lower than with more risky alternatives.
