For the average person, investing in cryptocurrencies means buying and selling coins on major exchanges. The experienced cryptocurrency investor understands that there are a few other ways to earn by investing in digital coins, including mining and staking.
Staking is one of the most prominent ways to earn passive income from cryptocurrency investing. It is a less resource-intensive alternative to mining. Staking is also an important strategy when you are trying to minimize risks while trading cryptocurrencies. It is a way of earning from your portfolio without selling your coins.
Is Staking Profitable?
To answer the question above without mincing words, “YES”, cryptocurrency staking is profitable. However, that doesn’t mean you become immune to losing money once you stake your digital coins.
For a start, not every cryptocurrency can be staked. Again, you can’t stake on every cryptocurrency platform, and the rewards you will get from different platforms will differ significantly. We also understand that people prefer to stake cheap cryptocurrencies instead of expensive ones.
To enjoy profitable cryptocurrency staking, you need to choose your coins carefully. In the light of what we’ve covered so far, you will need to choose coins that are both cheap and profitable. So, what are the best coins to stake in 2023 that are both cheap and profitable?
We’ve got you covered.
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10 Best Cryptocurrencies To Stake That Are Both Cheap And Profitable
Without further ado, here are 10 of the best cheap cryptocurrencies you can stake in 2023, with the hope of making a reasonable profit:
1. Binance Coin
Binance remains the biggest and one of the most popular cryptocurrency exchanges in the world. It launched its native coin a few years ago, and it has already become one of the best coins you can stake and earn a reasonable return.
You can expect as much as 30% profit when you stake Binance Coin (BNB). Also, there are many ways to stake the coin, including using BNB Vault, which is available inside the Binance exchange. It is safe to use the other methods of staking.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. Dash
Dash is recognized as one of the first cryptocurrency platforms to implement a proof of stake consensus mechanism. Though it is built around Bitcoin’s core, Dash has unique privacy features. It is also known for its quick transaction features.
DASH, the native currency of the network is a cheap and profitable coin to stake. It allows its HODLers to earn dividends by running masternode. The only challenge is that you may need as much as 1000 DASH to run a masternode. Also, you can use the DASH Desktop Wallet for staking.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. Ethereum
Ethereum is one of the most popular cryptocurrency platforms, and its native currency (Ether) can be staked for profits. It may not appear like a cheap coin when you consider the price of one ETH, but when you look ahead, you can see that it is currently cheap when compared to what it can become in the future.
Ethereum is one of the most valuable tokens in the cryptocurrency universe and it is a good thing that the coin can be staked. In addition to helping grow the dynamic Ethereum system, staking ETH gives participants opportunities to become validators.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
4. EOS
At a point, EOS was considered the most profitable proof of stake coin. Of course, this had a lot to do with the remarkable growth of the EOS.IO network protocol after its launch in 2017. By June 2018, the protocol had earned a staggering $4 billion. The coin is doing really well, by all standards, and it is a good thing that it can be staked.
EOS coin is still a very cheap coin, trading at $3.95 per token at the time of writing this piece. You can get yourself a sizeable EOS investment without breaking the bank. What is more, you can stake your coins and expect reasonable profit in no distant time.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
5. Stellar Lumens
Stellar was launched to make the transfer of digital assets easier for people in every part of the world. So far, the network has delivered lots of dividends to users. In addition to buying and selling digital coins, investors can stake Stellar Lumens (XLM) for profit.
Stellar Lumens is a relatively cheap cryptocurrency. Holders of the token are free to vote for a staking pool with their tokens and get a 1% annual reward. In addition to Lumens XLM you will earn for staking, you will also get the profit that arises as a result of increases in the price of the valuable coin.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
6. Cardano
Cardano is seen as one of the most lively cryptocurrency platforms when it comes to creating positive global change. It was designed for this purpose and has the necessary features and functionalities to improve the way people look at the cryptocurrency universe.
Cardano has an incredible native coin called ADA. The coin can be staked for profit, just like many other proof-of-stake coins. It is also a cheap coin, meaning anyone can start investing and staking. It is also a high-performance token, so the chances of getting meaningful profits are high.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
7. Uniswap
Uniswap is a fully decentralized cryptocurrency platform that uses a unique exchange protocol called automated liquidity protocol. It provides a fast and efficient crypto trading service, especially for ERC-20-compliant tokens.
The Uniswap token trades under the ticker symbol UNI. It is a relatively cheap cryptocurrency, trading at about $22.42 per token at the time of writing this piece. It is also a profitable coin when you decide to stake it.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
8. VeChain
VeChain is an Ethereum-inspired blockchain platform that is focused on enterprise and supply chain solutions. Businesses within the supply chain industry will easily see it as the most important cryptocurrency. However, it is still a great coin for regular investors, especially those who are willing to stake their assets.
The native currency of VeChain is called VET. It is a pretty decent coin by all standards. Like other tokens we have discussed here, it is cheap, can be staked, and significantly profitable.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
9. Cosmos
Cosmos is the self-acclaimed internet of blockchains. It is a robust ecosystem that allows startups and innovators to create their very own blockchain services with little or no barriers. Interoperability is one of its biggest advantages, and users love it for that.
Cosmos’ native currency is called ATOM. It is a relatively cheap cryptocurrency, selling for about $26.44 per token at the time of writing this piece. As you can tell, the token can be staked for profits. It has performed well in the past and has the potentials to perform even better in the near future.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
10. Tron
Tron is a shared cryptocurrency network that allows users to freely post, save, and own data through its protocol. It was created with the intention of becoming a worldwide, open digital entertainment infrastructure that uses blockchain and distributed storage technologies. So far, it is living up to the expectations.
The Tron token trades under the ticker symbol TRX. It is a very cheap coin. At the time of writing this piece, it was available at $0.096 per token. Again, it allows for staking. What this implies is that you can buy the coin at the current cheap price, stake it to earn some rewards, and wait for the price to improve for better profit.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Final Words
If you are one of those people who are new to the cryptocurrency staking space, then these 10 cryptocurrencies are the best choices for you. These 10 will show potential profit and are also cheap.
There are many cryptocurrencies you can stake. However, if you are a prudent investor, you will focus on finding coins that are profitable. It is also helpful to stake coins that are both cheap and profitable. They minimize your investment risks and improves your potential profits.
You also need to understand the importance of investing through reliable platforms. There are many places you can buy digital currencies, but you need to be careful to protect your investments. It is advisable to buy digital assets through reputable brokerages like eToro.
In addition to having almost every valuable and popular coin, Etoro provides users with multi-token wallets for storing their digital assets. For security reasons, it is best to stake your cryptocurrencies from a secure digital wallet.
It is important that we stress the importance of continuous learning when you want to make money online. You need to research and learn a great deal before making online investment decisions. Trading education is one of the top places to learn and grow as an online trader or investor.
eToro – The Best Platform To Buy Cryptocurrencies
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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