BNB coin ( or Binance Coin ) is a cryptocurrency created by Binance, one of the world’s leading cryptocurrency exchanges. BNB coin can be used to pay for fees on the Binance exchange and traded on the open market.
BNB coin has several advantages over other cryptocurrencies. For example, it is less volatile than many other coins and has a lower transaction fee. BNB coin is also easy to use and can be stored in several different wallets.
Many BNB investors now find out that some exchanges offer up to 20% annual returns on staking it and want to know where is the safest and, generally speaking, the best place to stake their coins.
Here’s everything I learned after a few hours of research on the topic.
Table of Contents
Best places to stake Binance Coin in 2022
1. Binance ( BNB Smart Chain )
Binance is a relatively new cryptocurrency exchange founded in 2017 and is domiciled in the Cayman Islands. Despite that fact, Binance is the largest exchange globally in terms of the daily trading volume. As of May 13th, 2022, Binance offers 3.58% est. APY.
2. Nexo
Remember that Nexo doesn’t offer staking or lending in many U.S. states.
3. Trustwallet
Trust Wallet is an excellent Ethereum wallet owned by Binance that offers some extra features. One of those features is staking many cryptocurrencies like Osmosis, Kava, Algorand, Cosmos, Tezos, and Binance Coin.
To stake your BNB coins on Trust Wallet, you need to download the app on your smartphone, create a wallet and send your BNB coins there. Once your coins show up there, you’ll be able to stake to any delegator you want. Keep in mind the yield changes daily, meaning the full validation that currently offers 11% might change to 3% or even less tomorrow.
4. Swissborg
Swissborg is a safe and robust wallet app that supports staking. In the middle of 2021, they started offering BNB staking in their Smart Yield Wallet with a yield of up to 9% APY. To stake your Binance coins, you need to create an account and deposit your coins there. Then on the portfolio screen tab on BNB, scroll down and tab Yield Wallet. Follow the prompts to start earning a daily yield on your BNB coins.
Final Thoughts
There are many different ways to stake your Binance coins, but our favorite ones are Binance ( BNB Smart Chain ), Nexo, Trust Wallet, and SwissBorg. Remember that whatever you choose, staking cryptocurrency is a risky thing, and you should never overexpose yourself to it.
If you’re interested in staking other cryptocurrencies, take a look at some of the best ones that allow it:
