Have you ever wondered how some people can make money without doing anything?
Passive income is one of the best ways to earn money while you’re sleeping. Crypto is no exception.
Passive income through staking coins is becoming increasingly popular among crypto investors, and Binance has some of the best staking coins to choose from.
If you’re relatively new to the concept of staking, don’t fret.
In this article, I’ll provide you with an introduction to staking and walk you through some of the best staking coins available on Binance.
I’ll also share with you our top picks for the best Binance staking coins and give you all the information you need to decide which coins are right for your portfolio. Ready? Let’s get started!
What Is Binance Staking and How Does It Work?
If you’ve been exploring ways to invest your money and make some passive income, then Binance staking could be a great option for you.
Binance Staking is a process of earning rewards by simply holding certain digital assets in your Binance account.
When you use this staking method, you are entrusting your digital coins to a third-party service that will keep them safe, while also generating rewards for you.
This is essentially similar to depositing money in a savings account, but there is no regular interest rate as such – rather, the reward depends on the coin that you choose to stake and the amount that is staked.
To start Binance staking, all you need to do is deposit any of the supported coins into your account.
You won’t have to do anything else – once the coins are there, the platform will automatically start generating returns on them without any extra effort from your side.
The returns generated can then be withdrawn into your bank account or used within Binance for trading or other investments.
The Best Binance Staking Coins for Passive Income: BNB, ZIL and VET
Staking cryptocurrencies is an exciting way to earn passive income from your crypto investments.
The process involves investing in a particular token to help validate transactions and secure the network, while also receiving rewards for successfully doing so.
Not all cryptocurrencies are compatible with staking, but fortunately, Binance users have access to the most popular coins that do.
These include Binance Coin (BNB), Zilliqa (ZIL) and VeChain (VET)—the top Binance staking coins for passive income.
All three offer extensive opportunities to earn rewards depending on the number of tokens you hold.
Here’s a closer look at each one:
Binance Coin (BNB)
The biggest advantage of BNB is its low entry barrier—you only need at least 0.1 BNB to stake and begin earning rewards.
Currently, BNB holders can earn 10-20% annually in staking rewards, depending on how much they hold.
Zilliqa (ZIL): Zilliqa has one of the lowest barriers to entry for staking—you only need 1 ZIL per node.
Even better, it also offers one of the highest interests in staking—up to 36%.
This makes it a great option for both small and large investors wanting to diversify their assets into staking coins.
VeChain (VET)
Last but certainly not least, VET currently offers up to 27% APR in annual rewards for its delegated validator node holders—that’s over two times more than what you would get from regular savings accounts!
VET requires at least 10 VET per node, making it suitable for mid-
Zilliqa (ZIL) – High Staking Rewards and Growing Ecosystem
When it comes to earning passive income with Binance Staking, Zilliqa (ZIL) is one of the most popular options.
With an annual staking reward of up to 20%, Zilliqa offers one of the highest rates available on Binance.
It’s also a rapidly growing ecosystem, making it a great choice for those looking to earn long-term rewards.
Why is Zilliqa such an attractive option? Well, for starters, its reward rate is quite high.
It also boasts a robust ecosystem that is growing quickly, and its network is capable of processing thousands of transactions per second.
Here are some other advantages you get when staking ZIL:
Low inflation: The maximum supply is set at 21 billion coins, meaning that there will be no sudden drops in token value due to inflation.
This makes it attractive for long-term investors.
Low energy costs: Zilliqa uses a unique consensus mechanism called sharding, which helps to keep energy costs down by splitting transactions into small packets and processing them separately.
Privacy features: Zilliqa has built-in privacy features that allow users to maintain their anonymity while using the network.
This makes it an attractive option for users who value their privacy.
With its growing ecosystem and high staking rewards, Zilliqa (ZIL) is a great option for those looking to earn passive income through Binance Staking.
VeChain (VET) – Supply Chain Management and Staking Rewards
If you’re looking for a great Binance staking coin with supply chain management capabilities and a good reward system, VeChain (VET) is a great choice.
VeChain, which is based out of Singapore, has two main capabilities.
The first is its blockchain-based supply chain management system that can track, monitor, and authenticate products in real-time.
The second is its rewards program for staking VET coins.
VET holders are rewarded with VTHO coins when they stake their tokens on the platform.
This rewards program works by allocating a certain percentage of all VET transactions to the stakers as an incentive to continue holding the currency and continuing to support it.
Rewards are issued in regular intervals – usually monthly – and can be used as payment for various services on the network.
In addition to these rewards, VET holders also benefit from the appreciation in value that comes with VeChain’s growth and success as a cryptocurrency project.
As more people start to use the platform for its supply chain management capabilities and utilities, demand for VeChain tokens will likely increase which could lead to further price appreciation of VET coins.
Stablecoins – Earn High Interest on BUSD and USDT
Stablecoins are another great option if you’re looking to earn passive income with Binance staking.
Stablecoins such as Binance USD (BUSD) and Tether (USDT) are backed by fiat currencies, so their value doesn’t fluctuate as wildly as other cryptocurrencies.
This makes them great for long-term investment.
You can earn a high yield on your staked BUSD and USDT, with up to 10% annual returns depending on the amount you stake.
And the best part is that it’s easy to get started—all you need to do is open a Binance account and deposit your coins.
Once they’re staked, you can start earning your rewards right away!
Stablecoins also offer an extra layer of security, since they’re pegged to stable currencies like the US dollar – meaning even if the crypto market tanks, you won’t lose your principal investment.
So if you’re looking for a low-risk way to earn passive income, stablecoins are worth considering when it comes to staking on Binance!
Other Best Binance Staking Coins: ONE, ATOM, ALGO and XTZ
Apart from the three coins mentioned earlier, there are four other notable coins on Binance that you can stake, including ONE (Harmony), ATOM (Cosmos), ALGO (Algorand) and XTZ (Tezos).
Staking these coins allows you to earn passive income and maximize your returns in the long term.
Here’s a brief rundown of each of these four coins:
ONE (Harmony)
Harmony is a blockchain platform that is focused on scaling decentralized applications, enabling faster transactions at a lower cost.
It has a staking reward of around 10-15%.
ATOM (Cosmos)
Cosmos is an ecosystem of independent blockchains, enabling companies to build apps and services for their own particular needs.
Staking ATOM earns you around 6-7% rewards.
ALGO (Algorand)
Algorand is an open-source digital currency and smart ledger protocol built with advanced cryptographic techniques.
Staking ALGO can earn you rewards of up to 5%.
XTZ (Tezos)
Tezos is a self-amending blockchain protocol, allowing it to upgrade without requiring hard forks or downtime.
Staking XTZ tokens can give you up to 8% rewards.
Conclusion
Staking is a great way to earn passive income with a relatively low amount of effort.
By investing in Binance’s staking coins, you can generate returns that may not be seen in traditional investments.
However, it is important to do your due diligence before investing.
Make sure to research the coins you’re interested in, as well as the risks associated with them.
It’s also important to remember that staking is not without its risks.
Make sure to be aware of these risks before investing in any staking coin.
With the right research, Binance staking coins can be a great way to earn passive income and generate returns.
I’m a pharmacist by profession, but my passion for cryptocurrency has led me down a different path. I’ve been staking crypto for years, and I’m always eager to learn more about this exciting and ever-changing field.