Table of Contents
What is stellar?
Stellar is a decentralized, open-source blockchain platform created to facilitate the movement of money quickly and cheaply. Stellar’s native currency, XLM, can send money across borders or pay for goods or services in real-time. [1]
Stellar was founded by Jed McCaleb, who co-founded Ripple. Stellar has similarities but also differences with Ripple. Ripple is a closed system, while Stellar is open-source. Another is that Ripple was made for established banking institutions and consortiums, and Stellar focuses on developing markets and use cases. [2]
Is it possible to stake Stellar?
Technically no, you can’t stake stellar. But you can earn interest through platforms like Celsius, Nexo, yXLM, and others. You can earn by participating in lending pools or providing some liquidity to the platform. [3]
1. Celsius Network
Celsius is an excellent platform for earning and borrowing cryptocurrencies. The company is relatively new – it was founded in 2017 but has a good reputation and is considered relatively safe. As of May 1st, 2022, Celsius Networks offers a modest 1.31% APY for their Platinum-level investors.
2. Nexo
Nexo is another excellent platform for earning interest in your cryptocurrencies. The company has been in business since 2017 and has a good reputation. Nexo offers a much higher APY than Celsius – as of May 1st, 2022, they provide a whopping 7.5% APY.
Remember that Nexo doesn’t offer staking or lending in many U.S. states.
3. yXLM
yXLM is focused exclusively on staking XLM, and it’s one of the easiest ways to earn interest on your stellar investments. yXLM offers an 8% APY and no withdrawal or holding limits. You get yXLM when you lend your XLM in the platform, and every yXLM is backed 1:1 by deposited XLM.
Can you stake XLM on Binance?
Unfortunately, it’s not possible to earn rewards on XLM on Binance since 2019.
Can you stake XLM in Coinbase?
As we already explained. You can’t technically stake stellar coins, but you can earn rewards for holding them on a specific platform. So, the answer to this question is no – you can’t stake XLM in Coinbase.
If you’re interested in staking cryptocurrencies, take a look at some of the best ones that allow it:
