Solana (SOL) is one of the most popular blockchain platforms in the world right now. It’s highly regarded in the blockchain community because of its speed and security. Since it uses proof-of-history, it’s also eco-friendly. Solana has become a very attractive cryptocurrency in 2021, as its value soared by more than 5,077 percent in a mere eight months.
If you own Solana, or plan on buying some, you should absolutely consider staking. Staking is a way to earn rewards from your crypto by locking them in the blockchain network for a certain time, where it works to confirm transactions.
To stake Solana, you must move it into a wallet that support staking. Here are seven of the best.
Solflare Wallet is one of the best wallets for staking Solana. It’s entirely web-based and offers fantastic security, thanks to its integration with Ledger. If you have a Ledger device, this will work very easily.
Solflare has a simple browser-based extension, and the company is also working on a mobile app. If you want easy access to your SOL, this is a great choice. It’s non-custodial, so only you control the private keys.
It’s also very NFT-friendly since the extension works directly from your browser. You can easily stake your SOL with a click, and unstake it just as quickly. There is a cooldown period, however.
Phantom Wallet is a close second on this list, as it shares virtually all the same features as Solflare. It offers support for Ledger Nano X devices and gives you access to NFTs and digital collectibles. And, like Solflare, it’s also non-custodial.
Phantom integrates into your Chrome browser and is available with a single click. It has built-in tools for viewing your NFTs and also supports SPL tokens. So, if you ever feel like swapping USDC or wish to access the world of DeFi apps built on the Solana blockchain, you can do that right away.
Since it offers native support for staking, you can quickly put your SOL to work within minutes. Just make sure you don’t stake all of your SOL holding (the wallet doesn’t stop you!), otherwise, you’ll have to add some more SOL to unstake it!
If you are looking for a versatile multi-cryptocurrency wallet that’s available for both mobile and desktop platforms, go with Atomic Wallet.
It can be installed on several operating systems, including different Linux distros like Ubuntu and Fedora, as well as Windows, macOS, and Android devices. SOL staking on Atomic Wallet also gives you 7 percent annual returns through its Android wallet.
Atomic Wallet supports 300 cryptocurrencies, and its accessibility makes it a popular choice for people who want quick access to their Solana, no matter where they are.
Sollet has a bare-bones interface, but you don’t really need much more. As soon as you log onto the site, it asks you to record a 24-word seed phrase. This is used for accessing your Sollet wallet, so you must save it in a safe and secure place, away from prying eyes.
Sollet is a fantastic platform for managing your SOL as it lets you quickly connect to your Ledger hardware wallet. It’s entirely web-based, thus making it accessible from any device (though you’ll need the seed phrase).
You can also connect to Solana DApps with Sollet, though, it’s generally not a wise idea to connect directly to DApps without your Ledger wallet. That’s because the browser extension still has a few bugs.
Like Atomic Wallet, Exodus is also a multi-cryptocurrency wallet that’s available for several devices, including Linux distros, macOS, Windows, iOS, and Android.
Exodus requires you to connect a hardware wallet to access its desktop version, so you can use either a Ledger, Trezor, or any other hardware wallet. Exodus supports more than 150 cryptocurrencies, and also gives you access to a host of crypto apps directly through the dashboard.
If you are interested in staking SOL through Exodus, expect a 6 percent APY, which is not awesome, but also not terrible, either.
Zelcore is another multi-cryptocurrency wallet that offers support for all Solana tokens, as well as SOL. Each account you create on Zelcore will come with three discrete addresses, allowing you to store each asset separately.
It supports SOL, ETH, BTC, and more than 270 other cryptos. Zelcore is available on both Android and iOS mobile platforms, as well as for desktop devices. It uses a customized adapter solution based on Sollet to allow users to quickly connect all their DApps straight from a single browser tab.
It’s a great choice for users who are serious about staking operations on Solana because of its versatility and ease of use.
Finally, there’s Math Wallet. It supports more than 85 public chains and is backed by big names in the industry, including Multicoin Capital, Binance Labs, and Fenbushi Capital.
It also gives you access to DApps like Tulip or Solstake, so you can easily stake your SOL coins. Like all other wallets on this list, Math is also non-custodial. A browser extension, a web-based wallet, and a mobile app are all available.
You can hook up Math to your Ledger Nano X device or your WOOKONG Bio, too. Math also has a nifty gas tracker app called MathGas which tracks gas prices in real-time for different cryptocurrencies.
Why Stake Your Crypto?
If you have a significant amount of SOL or any other popular crypto, staking it lets you earn rewards. You can easily increase your investment and get more by putting it to work. Staking crypto lets you earn more money from your initial investment, and it is a great way to grow your crypto savings.
Depending on where you stake, the interest rates on offer can be quite generous, too. Apart from SOL, you can also stake other cryptocurrencies, like Ethereum, for example.
Read Next
About The Author
This news is republished from another source. You can check the original article here
Be the first to comment