- Staking BNB is a great way to earn passive income during both a bull and a bear market
- There are multiple platforms that offer different staking options for BNB, all with varying rewards
- BNB is the native token of the Binance Smart Chain
- You can chose to stake your BNB in a locked or an open contract
- Below we cover the 5 best places to stake your BNB for the maximum rewards
What is BNB?
BNB emerged in 2019 and quickly rose in the rankings as the native token for the Binance Smart Chain.
Backed by the biggest Crypto exchange Binance and having plenty of utility based around the exchange such as paying fees the BNB token had a very impressive run during the 2020 bull run which saw a lot of people investing and looking for somewhere to stake their BNB.
Luckily for you and all the other investors BNB can be staked very easily through multiple different platforms that all offer slightly different rewards, but worry not you don’t have to figure out which is the best since we have done that for you in this article!
When deciding where to stake your BNB or any other crypto assets you should always shop around a few different platforms to find the best APY.
Also be sure to take note whether the staking is locked staking or flexible as once you have entered a locked staking contract you cannot withdraw your token until the staking period is finished.
What is Staking?
Staking is the act of placing your tokens in a smart contract where they can be used verifying transactions and other actions and in return you receive rewards. Similar to how you earn interest in a bank account.
Staking is arguably one of the best ways that you can earn passive income in the crypto space as it allows you to earn “interest” or staking rewards whether the token price is going up or down. Perfect for long term hodlers.
A large portion of Cryptocurrencies can be staked on various platforms, some of these tokens that can be staked for great rewards are the following:
The Best Places To Stake BNB
Binance is possibly the safest place that you can stake your BNB though it does offer slightly lower rewards than other platforms that we explore below.
Binance currently offers an estimated APR of 0.35% in their BNB Vault
Staking BNB on Binances Vault
Staking your BNB on Binance can be super easy using either their mobile app or desktop app. The great thing about choosing Binance as your staking platform is the ability to buy, sell and swap BNB all within the same app.
If you are only trading large tokens such as BNB, BTC and ETH then chances are Binance is the only platform you need to use. By staking your BNB on Binance you can keep everything in one app.
Trust wallet offers staking and support for over 100 different crypto assets making it one of the biggest and most popular crypto wallets in the space.
From within the Trust Wallet app you can store your crypto, buy crypto, sell crypto and even view your NFTs. People find this very convenient hence why it is one of the biggest wallets.
Trust Wallet also offers some of the highest APR for staking BNB and other coins, currently offering 11% APR on BNB. Trust Wallet can be a great choice for its simplicity and ease of use directly from your phone.
Stake BNB in Trust Wallet
The only thing that lets Trust Wallet down is its questionable security which has been brought up a few times in the past around their lack of 2FA and other security features.
Since it is also mainly a cellphone based wallet you also have to take into account the security of your phone when deciding to use Trust Wallet to stake your BNB or other crypto assets.
Kucoin is another exchange similar to Binance that offers a very wide range of staking opportunities. With locked staking options of 7 days right up to 30 days you have lots of flexibility in what APR you want to earn and how long you want to lock your crypto away for.
The longer you lock your crypto generally the higher the APR. This is done through Kucoins “Kucoin Earn” feature.
Kucoin Earn offers BNB staking in three different options, 14 days, 7 days and Flexible.
Stake BNB on Kucoin
Ranging from 1.11% upto 8.23% Kucoin is a great option for its user friendliness and range of staking options.
Crypto.com again is a platform where you can buy, sell and swap tokens all within one app, this makes it very popular and a great place to stake your BNB.
The big pitbull with Crypto.com is their staking rewards are based on how much of their native token CRO that you are staking alongside BNB. This means that you have to have both CRO and BNB to be able to stake your BNB.
If you have under $4,000 USD worth of CRO staked your BNB rewards sit at 2% p.a while if you have $4,000-$40,000 worth of CRO staked alongside your BNB your rewards are bumped up to 3% p.a.
Stake BNB on Crypto com
Crypto.com does however offer some of the most competitive rates when it comes to staking stablecoins such as USDC offering upwards of 14% p.a on stablecoins. They also offer staking on a very extensive amount of tokens.
To wrap things up you should now have a good idea of what kind of rewards you can earn from each of the above options and also an idea of what each platform also offers alongside staking.
Staking is a great way to earn passive income whether in a bear or bull market.