Staking is one of the most popular ways to earn passive income in crypto
Some of the high-APY cryptos for staking include Injective (INJ), Polkadot (DOT), Kusama (KSM), Zilliqa (ZIL), and Avalanche (AVAX).
Injective offers the highest APY (approx. 14.56%)
Polkadot (DOT) and Zilliqa (ZIL) also boast attractive APYs (around 11.91% and 12.35%), while Kusama (KSM) offers a bit lower (9.25%)
Avalanche (AVAX) rounds out the list with a solid 8.49% APY, which is appealing considering its rates of growth in the past year
As the crypto market’s heat increases, staking is starting to become one of the most popular ways of making a passive income.
At the time of writing, several cryptocurrencies are taking charge, and are offering some of the most competitive APYs for stakers.
Let’s explore the five best-performing cryptocurrencies with the highest APYs so that you can ride the staking wave and make the most of the current bull run.
Injective Protocol has been in the spotlight as of late, for its high staking yields.
Injective Protocol’s APY | Source: Staking Rewards
According to data from Staking Rewards, Injective currently offers an impressive staking yield of approximately 14.56% in 2024, meaning that every year, investors make a passive profit of around 15%.
This yield is a result of the Injective protocol’s efforts to push participation and secure its network.
Polkadot also stands out with its unique Nominated Proof-of-Stake (NPoS) consensus mechanism.
Polkadot’s APY
Polkadot allows its users to stake their DOT and secure the network. As per the data from Staking Rewards, stakers can enjoy an average APY of around 11.91%, making Polkadot one of the most rewarding cryptos to stake in the market.
Kusama is often referred to as Polkadot’s wild cousin, and for good reason.
Kusama’s APY
Kusama is known for its higher risk and reward profile. The cryptocurrency currently trades at around $58, and data from Staking Rewards shows that it brings investors an APR of approximately 9.25%, reflecting the network’s dynamic and experimental nature.
Zilliqa has implemented changes to reduce inflation by changing its staking payouts, as a way to aim for a more sustainable ecosystem.
Ziliqa’s APY
As of 2024, the staking APR for Zilliqa sits at around 12.35%, following a community-approved proposal to gradually reduce rewards.
According to Staking Rewards’ APR calculator, an initial stake of 245,500 ZIL would yield around $1,235.3 in rewards after one year.
Another strong competitor in the staking market is Avalanche, which is renowned for its quick transaction times and Ethereum compatibility.
Avalanche’s APY
Staking AVAX in 2024 can yield an average payout of 8.49% according to data from Staking Rewards, which is attractive, given the state of the market and how fast the cryptocurrency is climbing at the moment.
The earnings provided by these five cryptocurrencies are evidence of the expanding potential in the crypto ecosystem, and staking has emerged as a key tool of many investors’ strategies.
However, we must mention as usual, that before staking your money, make sure to do your own research and due diligence to weigh the risks and choose a plan that suits your risk appetite.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.