Stellar is an open-source blockchain that mainly acts as a payment facilitator for crypto users. It is known for processing affordable and swift financial transactions that include cross-border transfers, too. The platform does a good job of connecting digital asset users with traditional payments and banks. With its native token XLM, it bridges the gap between cryptocurrency and well-established centralized finance.
Stellar functions with a network of independent nodes that handle a shared ledger of transactions. It operates on a unique Stellar Consensus Protocol (SCP) that validates transactions quickly and safely while safeguarding assets. By design, the mechanism is different from Proof-of-Stake, which makes XLM staking also particular. Its holders can’t stake it traditionally but lend it for earning yields through the “Earn” program on centralized exchanges. So let’s explore the top stellar staking pools to find out what they offer.
Top Stellar Staking Pools
Through top Stellar staking pools platforms, XLM holders participate in its staking through lending or by providing liquidity on decentralized exchanges.
CoinW
CoinW is a Singapore-based company that provides crypto trading services in over 200 countries. Investors can buy, sell, and trade around 1000 assets along with 500 pairs here. They can engage with spot, futures with a leverage of up to 200x and ETFs with up to 6x. The platform offers a competitive fee structure while giving discounts for native token (CWT) holders. It also provides an array of trading tools and features.
This includes automated trading bots and over-the-counter services. For passive income, they can do savings and staking through the CoinW Earn program. XLM stakers can get APY of up to 2.96% with the flexible method and up to 41.24% with the fixed method. They can even participate in the token sale of new projects through their LaunchPad. For security, the exchange implements DDoS, WAF, Bot Guard, IP monitoring, and MFA.
Whitebit
WhiteBit is one of the largest crypto trading platforms operating in Europe. Serving over 5 million users, the exchange supports the trade of over 270 digital assets and more than 600 pairs. It also boasts of executing a trading volume of $2.5 billion. The available trading types include spot, futures with up to 100x and margin with up to 10x leverage. Spot traders have to pay a standard 0.1% for both maker and taker orders. Many consider it among the top stellar staking pools.
The holders of the native WBT token are entitled to free daily withdrawals, reduced fees, and enhanced referral rates. For passive earnings, users can do crypto lending, staking, the affiliate program, and buy tokens from new projects. XLM stakers can earn up to 17.39% of APY based on varied conditions. For preventing security lapses, the platform has acquired CCSS Level 3 certification and implements various other measures.
Binance Earn
Staking Stellar (XLM) through Binance Earn provides a simple and rewarding experience suitable for both new and experienced crypto investors. Binance offers a wide range of staking products, such as Simple Earn, which lets users choose between flexible and locked options based on their liquidity preferences and risk tolerances. Binance’s impressive APY rates, ranging from 3% to 8% on XLM, enable users to earn reliable passive income with little effort. What’s even better is that users can use the auto-staking feature to easily compound their rewards, allowing earnings to automatically go into their XLM balance.
Binance also provides comprehensive reporting, promotional boosts, and security measures, ensuring your tokens are safe and your rewards are accurately calculated. Although the Binance platform has recently been upgraded and plans to introduce more staking products, Binance Earn remains a strong choice for Stellar holders focused on growth; when it comes to returns and user experience, it’s hard to beat.
Poloniex
Poloniex is a US-based exchange that operates globally, serving crypto users in different regions. The platform offers trading of over 200 assets along with NFTs. The available trading methods are margin, spot, and P2P. It gives access to various DeFi products while delivering competitive fees, too. Spot traders pay 0.1550% for takers and 0.1450% for makers. Users also pay low charges on deposits, as they only apply the blockchain fee.
The exchange lets potential traders buy cryptos using their fiat through Simplex. It helps users make passive income through staking various assets. XLM stakers can make the APY of up to 1% without any locking period and up to 100% with one. To tighten the security, Poloniex implements cold storage, 24/7 monitoring, and various other measures. It prioritizes security and mandates verification on withdrawals of large amounts. It’s certainly one of the top stellar staking pools.
KuCoin Earn
For those seeking flexible solutions and unrestricted access to yield opportunities, KuCoin Earn offers an effective channel for generating returns on Stellar (XLM) holdings. As one of the largest cryptocurrency exchanges, KuCoin allows users to stake XLM using both flexible and locked options. These products typically offer promotional annual percentage yields (APY) ranging from 5% to 8%, providing users and investors with attractive short-term and long-term staking opportunities.
KuCoin’s user interface is intuitive, making it easy for users to stake their XLM through the exchange’s staking programs. With just a few clicks, users can start earning yield, as KuCoin automatically deposits rewards directly into their wallets. In addition to staking, KuCoin also offers lending options (periodic yield farming) and unique promotional products for additional rewards.
Importantly, KuCoin boasts a global reach and a robust liquidity infrastructure, enhancing security and stability for yield earnings. The platform prioritizes user loyalty through consistent communication and transparent terms, helping users optimize their earning strategies. Given KuCoin’s commitment to its staking solutions and yield opportunities for Stellar, it stands out as a reliable choice for yield seekers compared to other platforms.
Biconomy
Biconomy is a crypto exchange that focuses on simplification and scalability of dApps and Web3 transactions. The platform delivers a wide range of solutions, including gasless transactions, cross-chain transfers, and much more. It promotes community building while making networking and marketing easier for users. Traders can manage liquidity quite efficiently while accessing low-fee and swift transactions.
It supports buying, selling, and trading of over 268 cryptos along with several pairs. Traders can engage in spot and leverage with a leverage of up to 1:100. Biconomy supports withdrawals and deposits of multiple fiat currencies, besides facilitating the exchange of assets like USDC and USDT. Users can stake various supported assets for additional earnings. XLM stakers can earn an APY of 12.5% without any locking period and 30% with 365 days of hold.
Bitrue
Bitrue is another centralized global exchange headquartered in Singapore. The platform lets its users buy, sell, and trade over 700 assets. They can indulge in spot, futures, and ETFs to keep a multifarious approach in trading. Also, investors can access crypto-backed loans and wealth management services for financial support. The native token Bitrue Coin (BTR) holders also get discounts and other advantages. It’s definitely one of the top stellar staking pools.
Using the “Power Piggy” service, Bitrue users can stake their assets and gain daily interests. XLM stakers can earn up to 18.36% APY with a locking period of 3 days. It offers a competitive fee structure by offering from 0.098% to 0.280% on spot and a similar amount on futures, too. In terms of security, the exchange deploys IP whitelisting, cold storage, KYC, two-factor authentication, and multi-signature protocols.
Upshot: Top Stellar Staking Pools
XLM staking could become a fruitful way to earn additional income for crypto traders. However, stakers need to do proper research before indulging in it. The centralized exchanges provide different ways to earn interest through this practice. Users need to be sure about methods like inflation pools, liquidity pools, and lending. They must also consider factors like specific risks related to platforms, blockchain, and custodial services. The top stellar staking pools give many options to traders to compare and then choose.
Frequently Asked Questions
Is it possible to stake Stellar (XLM) directly on-chain?
XLM cannot be staked on-chain because the Stellar network employs Stellar Consensus Protocol (SCP) rather than a Proof of Stake method. However, XLM holders can still earn passive income returns by lending XLM or by using “Earn” programs on centralized exchanges.
Is XLM staking safe on centralized exchanges?
Centralized exchanges like WhiteBit, CoinW, and Bitrue all place security at the top of their priority list. They use techniques such as multi-factor authentication(MFA), cold storage, IP whitelisting, and CCSS certification. However, it is still important that users assess custodial risks, as well as platform reputation.
How do I start staking XLM?
The first step is to buy XLM from a supported exchange and move it to an appropriate wallet or staking platform. Then choose a program that offers XLM staking or lending. Once you select a program, check the offered APY, lock period, and terms before committing to staking.
