Staking is an important way to help sustain a crypto network. In return, you get rewarded with some of the network’s token for playing that role.
The word “staking” can also be used loosely to mean any form of savings or locked up assets on which the owner may receive more tokens. Staking in its strictest sense is only feasible on proof-of-stake (PoS) networks, but any assets can be locked for some time to earn rewards.
Tron (TRX), the token that powers the entire Tron ecosystem, is a PoS network token. Therefore, holders can stake the token to earn rewards for helping to secure the network. If you’re interested in staking the TRX token, we’re here to help.
The following are the best platforms for securely staking the token and earning impressive rewards for it.
Binance
Binance is the largest crypto trading platform in the world by trading volume, but that’s not all it is known for. It is also an excellent platform for staking crypto assets to earn passive rewards, there are over 100 crypto assets you can stake on the platform, one of which is TRX.
On this platform, you’ll enjoy impressive staking rewards and also the highest possible security for your staked assets. There are two options available for staking. The first is the flexible option which allows you to withdraw your tokens whenever you want.
The second is the fixed option which requires you to lock your assets for a period of time in order to access the rewards. You can use any of the two depending on your goals, but the locked option pays much higher rewards.
eToro
eToro is another top crypto trading platform you can use to stake TRX. It is a reputable crypto platform known for its social trading feature. It is also a multi-asset platform that allows you to stake your TRX for passive rewards.
The platform’s ease of use is one of its strong points, and it also pays impressive rewards for staking TRX. It caters to everyone from absolute newbies to crypto pros, helping to train those who wish to become traders for free.
You can also use a highly secure crypto exchange that you can use with confidence knowing that your staked assets are safely held. eToro is also a regulated crypto exchange in many countries, adding a layer of security to it.
Nexo
Nexo is a crypto trading platform famous for its lending services. It lets you borrow and lend crypto. Lenders therefore earn passive income by making available their assets to lend and earning from the interest charged on the loans.
Rewards on Nexo are paid on a daily basis, so you start earning the very next day after you begin staking. The platform also has a tiered system for paying rewards, where you earn higher rewards by holding more of their NEXO tokens.
Perhaps the coolest thing is that you can borrow against your staked TRX and use the borrowed funds for other things. This is known as liquid staking in decentralized finance. The rewards on this platform are generally impressive, but the requirement to hold their NEXO tokens can be a turnoff for some users.
Start Staking TRX Today
If you were looking for the best platforms to stake TRX, look no further because these are the ones that you easily use and start earning rewards. They all have different conditions for participation, so you;ll need to check those conditions before proceeding with the staking.
The rewards also vary from platform to platform, so you should check those out before you proceed to be sure of what you’re getting into.
That being said, staking is an easy way to earn passive income on crypto assets you aren’t using. Rather than just hold the tokens in your wallet, why not put it to some use to earn more money?
Other way to earn income fast is to trade digital currencies. You can trade crypto assets with the help of an online crypto trading platform like Corporate Brokers Limited where you get a lot of useful trading services.
