Best Staking Cryptos to Watch Out for During 2023 (2024)

Investors are always looking to make their money work for them. For crypto investors, there's nothing better than the passive income opportunities that come with the best staking cryptos.

Staking comes in lots of shapes and sizes, but when staking your tokens, you can expect them to be locked away for a period of time and for you to be rewarded for having staked them. The most common example is proof-of-stake protocols such as Ethereum (ETH), for which you stake your tokens to validate transactions, which helps secure the network and earns the staker ETH rewards.

This article will explore why these are some of the best staking cryptos available in 2023.

Chancer (CHANCER) ― Disrupting the betting industry and empowering bettors

Chancer is the world's first blockchain-based decentralized predictive markets app. Chancer aims to revolutionize the betting and gambling industry by removing the need for a bookmaker or house entirely. Chancer is a betting facilitator that allows people to make peer-to-peer (P2P) so the odds are equal and never stacked against users. Any type of bet can be made, from a small bet among friends, to viral bets on huge events such as the Superbowl or the Oscars. Unlike traditional bookies, bets aren't limited to just sports.

All bets and pay-outs are made in Chancer's native token, CHANCER. Additionally, users can earn CHANCER simply by using the platform and placing bets, presenting users with a great opportunity to earn a passive income. The rewards don't stop there; users can get discounts on bets, making it cost-efficient for frequent bettors. CHANCER holders can also stake their holdings into liquidity pools. This will allow investors to earn in the background while also enjoying the appreciation in value.

CHANCER has great utility as a token as it fuels Chancer's entire platform. Given that the size of the betting and gambling industry was worth an eye-watering $64 billion last year, there's a real chance that Chancer will disrupt the market and take a sizeable chunk of it through its democratized, decentralized platform that puts bettors first. This makes Chancer a great investment with lots of potential for both betting and crypto enthusiasts.

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Shiba Memu (SHIBA MEMU) — A meme coin fueled by AI

Shiba Memu is a brand new meme coin based on the adorable Japanese Shiba Inu dog. However, this deceptively cute coin has a marketing powerhouse behind it and aims to do the work of 100+ marketing agencies in real time. It's leveraging the power of both blockchain and AI technology to transform marketing, taking time-consuming tasks from marketers so they can focus their efforts elsewhere.

Shiba Memu learns from successful marketing strategies, writes its own PR and promotes itself across relevant forums and social networks. It will be able to generate content based on the data that its AI continually analyzes, publishing this on several online platforms. It will then monitor and analyze the success of its marketing efforts and adjust them accordingly, constantly learning and improving content in order to optimize results.

Shiba Memu will undoubtedly benefit from being a cute, funny meme. However, unlike other meme coins in the market which rely on initial hype and then drastically lose value because they have no long-term use, SHIBA MEMU has innate utility as it fuels the entire Shiba Memu platform. Meme fans and crypto enthusiasts looking to invest in a meme coin and see long-term returns should consider Shiba Memu.

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AltSignals — AI-powered trading signals

AltSignals is one of the crypto market's leading signal providers, producing over 1,500 trading calls since 2017. It's established itself as a highly-reputed and trusted platform over the years, consistently generating 100%+ returns across many of its signals each month and earning a 4.9/5 star rating on its Trustpilot page. AltSignals has achieved this through its team of veteran traders and the AltAlgo™ algorithm, a cutting-edge tool developed in-house by its trading experts.

Now, AltSignals is taking its service to the next level with the ActualizeAI algorithm and its new token, ASI. ActualizeAI is effectively AltAlgo™ 2.0, combining the best assets of its existing algorithm with the most advanced AI technology. It'll leverage features like machine learning, sentiment analysis, natural language processing, and predictive modeling to offer even more profit-making opportunities to its users, aiming to take AltSignals' win rate from 64% to 80%+.

Investing in ASI could be an excellent idea if you're looking for a utility token that offers gains in more ways than one. ASI will be necessary to access the ActualizeAI algorithm, with investors picking up more than 50,000 tokens being granted lifetime access once it goes live. ASI investors are not only exposed to price appreciation in the platform's native token but will also be given exclusive access to some of the industry's best signals.

There are even planned trading tournaments where community members can show off their trading skills and compete to earn the most profit. This means they can not only profit from AltSignals' trading signals but be in the running to win significant prizes! To help keep the AltSignals' priorities aligned with the community, ASI will also act as a governance token, allowing users to vote on changes made to the algorithm and the platform.

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Metacade (MCADE) – High-potential project with powerful staking

Metacade is an innovative new project that looks ready to begin a revolution in Web3 gaming. The project is building the largest play-to-earn (P2E) arcade available to gamers and creating a one-stop community hub in the process. With ambitions to be the project that defines GameFi, investors are understandably excited about the potential the project holds.

While Metacade's P2E arcade might be considered the crown jewel of the project, there is much more to its ecosystem. An extensive rewards system has been designed to enable users to earn income as they play their favorite titles and connect with their friends and other gamers. Competitive gaming and tournaments also provide a way for players to build up the amount of MCADE they hold. With rewards for contributing to the community through game reviews and other interactions, a high level of user engagement and retention is practically guaranteed.

The numerous revenue streams fuel these user income opportunities for the project that the team has taken into account. These include on-platform advertising, a games launchpad that can charge game studios to launch games on the platform, and even advertising jobs and internships in the industry on a community jobs board.

These revenue streams are extremely important, as a project with profits can become self-sustaining quickly and will find it much easier to build adoption and scale.

The ecosystem is supported by the utility token, MCADE. The token is critical to the use of the platform, with all users requiring the token as the main way to transact on the platform. This means that as all value exchanges require MCADE, the token price can be expected to rise as the adoption of the platform increases.

Another benefit for token holders relates to one of Metacade's most lauded features — Metagrants. Game developers can use the Metagrants program to pitch their ideas to the Metacade community, with MCADE token holders voting on which projects they believe deserve funding. This will drive token holders and user engagement while also attracting users who are excited by the games being developed on the platform.

Metacade also plans to transition over time into a decentralized autonomous organization (DAO), with the process due to complete in Q4 of 2024. This step really drives home the ambition of the team to put gamers in control of their own destiny through community ownership of the Metacade ecosystem.

Given how comprehensive the Metacade project is, it will come as no surprise that the project also has plans to offer extensive staking abilities to MCADE token holders, aside from entry in pay-to-play tournaments. Stakers will be able to earn a passive income while contributing to the project through their staked tokens. Metacade is an especially good candidate for staking, given that earning additional rewards during the MCADE token's inevitable price rises increases investor profits even further.

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Binance Coin (BNB) – The most staked crypto

Binance Coin (BNB) is the native token of the Binance Smart Chain, a Layer-1 protocol owned by the world's biggest crypto exchange, Binance. Binance has captured a significant amount of market share, up to around a quarter of the transaction volume of Ethereum.

Binance has built momentum through extensive marketing campaigns coupled with exceptionally low transaction costs due to the largely centralized nature of the validators on the BSC.

Staked BNB returns around 4.1% annualized returns, and Binance regularly burns BNB to keep the supply in check, BNB is a good choice for those who believe in Binance.

It only requires one BNB to stake via delegation, and so it remains a popular choice with investors who have not identified more compelling projects. The biggest risk is any unforeseen issues with Binance like those seen recently with FTX.

Chainlink (LINK) – Helping bring off-chain data on-chain

Chainlink is an open-source, decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. The platform connects blockchain networks with existing infrastructure, allowing real-world data integration into smart contracts.

This gives developers a secure way to access off-chain information, such as price feeds from exchanges, in a trustless way. Chainlink is used by leading DeFi platforms like Aave and Synthetix, as well as enterprise clients too.

While the LINK token has seen a significant fall in its price since 2021, it now has the staking options that many have been waiting years for. LINK staking rewards node operators who help secure the network by increasing their node's "reputation score."

Unfortunately, LINK staking is not likely to be the best investment for anyone, but the biggest Chainlink fans and better options are out there for those focused on returns.

Polkadot (DOT) – Staking to support interoperability

Polkadot was created by Gavin Wood, one of the co-founders of Ethereum, and has been gaining traction since its launch in 2020.

The Polkadot network is made up of two components: parachains (parallel chains) and bridges that enable communication between parachains. Parachains are independent blockchains that can run their own applications or processes while still being able to communicate with other chains on the network via bridge connections. These connections enable assets to be transferred across multiple networks without relying on a single chain.

Polkadot's native token, DOT, is used both as fuel for transaction fees within its ecosystem and also functions as an asset that can be traded freely. The project also supports proof-of-stake consensus, which allows users to stake their DOT tokens as collateral for validating transactions on the network and earn rewards for doing so. This incentivizes users to join the network in order to validate transactions as well as participate in governance decisions about upgrades or changes within it.

Polkadot offers decent returns, and so is a decent staking opportunity despite the challenges facing the price of the DOT token itself, such as the recent standing down of Gavin Wood from the CEO position.

Ethereum (ETH) – Excellent long-term staking crypto option

Ethereum is a decentralized open-source blockchain network and the world's second-largest cryptocurrency by market cap. The Ethereum platform is the blockchain platform that first introduced the innovation of smart contracts and is by far the most utilized public blockchain for this reason.

In addition to providing an infrastructure for dApp development, Ethereum also allows users to stake their Ether (ETH) tokens to earn rewards as part of its proof-of-stake consensus mechanism. Staking on Ethereum is a process whereby users lock up their ETH tokens in exchange for potential rewards over time, depending on how much they stake and how long they hold it. The more ETH staked, the higher the chance of earning rewards from validating blocks on the network.

When staking ETH, users become validators who are responsible for verifying transactions on the Ethereum blockchain by solving cryptographic puzzles known as cryptographic hashes or "proofs-of-work" with specialized hardware or software solutions known as validators. In return for successfully verifying transactions within blocks, these validators receive block reward payments from transaction fees.

Stakers on Ethereum should be mindful that there is some risk associated with staking because if any malicious activity occurs within a block validated by them, then all involved parties risk losing any Ether staked (slashed) as a result of penalties imposed upon bad actors. Therefore careful consideration should be taken before staking on Ethereum and any other staking setup that involves slashing.

Ethereum is a project with a bright future. While this might not translate to substantial price increases for ETH itself, it is a strong contender as a staking project.