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Bottom line: Coinbase – Product Name Only and Binance.US – Product Name Only both support staking for multiple cryptocurrencies and digital assets Binance.US is one of the best dogecoin crypto apps for peer-to-peer trading and is best suited for investors interested in over-the-counter trading. Coinbase, as one of the best cryptocurrency exchanges, is a better choice for those in search of more frequent payout rates and more educational resources.
Coinbase vs. Binance.US Staking: The Biggest Differences
With staking, you can earn extra cash by storing certain amounts of cryptocurrencies. However, most platforms require you to have a minimum balance of each asset to begin staking, and this varies by both asset and exchange.
When it comes to Coinbase and Binance.US – Product Name Only, both exchanges have a fairly limited selection of assets that you can stake. In addition, while the two exchanges vary when it comes to the cryptocurrencies and assets that are available for staking, Binance.US offers higher staking rewards.
But Coinbase is arguably a better choice for beginners who value educational resources and want to earn additional rewards from programs like Coinbase Earn. Plus, Coinbase also pays out rewards more frequently than Binance.US.
Coinbase
Binance.US
Staking assets
Ethereum, Tezos, Cosmos, Solana, Cardano, Polkadot. Algorthia, Dia, USD Coin
Staking assets
Ethereum, BNB, Cardano, Polygon, VeChain, Solana, Cosmos, Harmony, Avalanche, Polkadot, Near, Algorand, Fantom, The Graph, Tezos, and more
Account perks
Coinbase Earn rewards for dai, tezos, and algorand; up to a $1 minimum balance requirement and free transfers from external wallets for staking
Account perks
Rewards up to 9.50% for certain crypto, rewards calculated daily and distributed weekly, and no lock-up periods for assets
Human advisors available?
No
Human advisors available?
Yes
Better Business Bureau rating
Better Business Bureau rating
Are Coinbase’s Staking Rewards Right for You?
Pros
$1 minimum to stake assetsCan earn extra money for tezos, and algorand if you watch educational videos on the assets through Coinbase Earn
Cons
Limited selection of cryptocurrencies and digital assets to stake
Staking is a popular way to passively earn crypto by simply holding on to minimum balances of certain cryptocurrencies. And at Coinbase, you can stake multiple assets without paying any fees. The reward amounts and payout rates vary per cryptocurrency, and you’ll only need at least $1 to get started.
Keep in mind that Coinbase takes a 25% commission fee on any staking income.
Coinbase offers rewards for the following cryptocurrencies:
Ethereum: 3.83% interest rate; daily payout rateAlgorand: 7.82%; daily payout rateCosmos: 6.12%; payout every seven daysTezos: 3.19%; payout every three daysUSD coin: 2.00%; monthly payout ratePolkadot: 14.23%Cardano: 2%;
Coinbase also lets you transfer existing crypto balances from external crypto wallets to stake through its platform (these transfers have a $0 fee).
Are Binance.US’s Staking Rewards Right for You?
Pros
No fees for stakingBinance.US calculates rewards daily and pays them weekly for every assetCan earn yearly rewards of up to 9.50% No lock-up periods, and you can stop or start staking assets at any time
Cons
Limited selection of assets for stakingNo staking for stablecoins
Like Coinbase, Binance supports staking for several coins. Plus, for each coin, rewards are typically calculated daily and paid monthly, and the crypto exchange charges zero fees for staking. But the two exchanges differ when it comes to which assets you can stake.
Binance’s staking rewards for the following cryptocurrencies:
ETH: 5.70%; rewards distributed weeklyBNB: 1.30%; rewards distributed weeklyONE: 7.30%; rewards distributed weeklyVechain: 1%; rewards distributed weeklyXTZ: 5.10%; rewards distributed weeklyATOM: 7.50%; rewards distributed weeklyALGO: 2.40%; rewards distributed weekly
If you want to start or stop staking, you can do so at any time. This is because there isn’t a lock-up period (certain amount of time you’re required to hold/stake assets at Binance). However, if you plan to stop staking and withdraw your assets, there is a 24 hour wait period that helps Binance.US ensure that balances are accurately accounted for during its daily staking calculations.