Cosmos is a platform that facilitates blockchain inter connectivity to address key issues such as slow transactions, high fees etc.
ATOM is the native token used to power the ecosystem, i.e for governance and other use cases. But one of the best uses you can put ATOM to is to stake it. Staking is an easy way to earn passive income on your ATOM rather than just holding it in your wallet.
In order to do that, there is a need to choose the right platform for you. The choice of the platform may be based on profitability, security, ease of use, or other factors depending on what is important to you.
In this guide, we discuss the best platforms that you can use to stake your ATOM easily and start earning some passive income right away.
Binance
Binance is reputed as the largest crypto exchange by trading volume, but it is also one of the leading platforms for staking crypto assets. You can use it to stake at least 100 crypto assets, including ATOM.
One of the reasons that the platform is popular is because it doesn’t charge staking fees. The platform also has a great reputation that makes it trustworthy. There is no concern for security when you use Binance to stake.
Rewards for staking ATOM range from 1.5% to 3% depending on the conditions of the staking. Some staking may require that you lock your ATOM while others may not require a lock period but have lower rewards.
Kraken
Kraken is a highly secure crypto trading platform that is also reputable for staking crypto assets. This platform allows you to stake a number of selected crypto assets including ATOM. The rewards are also quite attractive.
You can earn between 6 to 10% reward per annum on your staked ATOM, and the platform doesn’t require any lock up period ATOM. You can easily withdraw your staked ATOM whenever you want and access the tokens even when staked.
Also, Kraken doesn’t charge fees for staking or unstaking ATOM. It only charges a fee as commission based on the reward you receive from the network. You’ll however need to have some ATOM in your Kraken wallet to start staking.
Coinbase
Coinbase is another reputable crypto trading platform that is also an excellent choice for staking ATOM. You can stake the tokens and start earning passive rewards immediately, as long as the service is available to your location.
The platform offers a whopping 13.21% reward for staking ATOM, all you need is at least one ATOM and you’re good to go. However, Coinbase which is notorious for charging fees charges a 5% staking fee from the rewards you earn.
Therefore if you’re looking for a platform that charges no fees, you might want to look elsewhere. On the flipside, the rewards here are way higher than what is available on other platforms, so weigh your options well.
KuCoin
KuCoin also allows you to stake and earn with your ATOM tokens. Through its KuCoin Earn program, you can start earning passive income with your tokens when you stake them. You can earn 12% APR by staking the tokens.
The tokens are however locked up for a period of 21 days before you’re able to access them. Also note that KuCoin charges between 5% to 10% of your reward as staking fees when you’re ready to withdraw your earnings.
Crypto.com
You can stake ATOM on Crypto.com using the staking option available on the DeFi Earn platform of the exchange. Crypto.com is known to be one of the most rewarding platforms for staking crypto assets, and ATOM is no exception.
You’ll just need to pick a staking pool of your choice and stake your ATOM in whatever quantity you want. You may need to hold some CRO, Crypto.com’s native token to benefit from the product maximally.
