Staking cryptocurrency is a popular way for users to make idle income by putting their digital assets in a wallet and leaving it to help the network run. You can stake your coins on many blockchain networks, like Ethereum 2.0, Polkadot, and Solana. You can use either a hot or cold wallet to do this. If you want to stake crypto assets in the U.S., ensuring the right wallet is essential for safety, freedom, and ease of staking. Considering both hot and cold wallets, this guide will show you the best crypto wallets for staking.
Hot Wallets for Staking Crypto
Hot wallets are digital wallets that remain connected to the internet and provide convenient option for active traders and stakers. Wallets enable you to trade, stake, and manage digital assets and are usually free. Their user-friendly design and functionality make them perfect for everyday transactions.
1. Zengo Wallet
- Assets Supported: 1,000+
- Can Convert to Cold Storage: Yes, via WalletConnect
- Staking/DeFi Support: Yes
Zengo Wallet is the go-to app for safe, convenient, and secure crypto storage. Its innovative multi-party computation (MPC) wallet protects assets differently from seed phrases and private keys. It simplifies secret key management and improves security. Thanks to Zengo’s enhanced security measures, there will be no Zengo wallet hacks in 2024.
However, Zengo does not support Solana, XRP, or Cardano and does not have desktop versions. This can cause issues for customers with significant cryptocurrency investments. Despite these issues, Zengo is a good choice for crypto holders who want to prioritize security and simplicity.
2. Crypto.com DeFi Wallet
- Assets Supported: 1,000+
- Can Convert to Cold Storage: Yes, on desktop
- Staking/DeFi Support: Yes
The Crypto.com DeFi Wallet is a particular option for DeFi users. In addition to lending and staking, it lets you use several DeFi products from your wallet. The Crypto.com DeFi Wallet works seamlessly with the leading exchange app to transfer assets to your wallet.
It supports several digital assets and has excellent stakes, but BTC transfers require a $100 minimum withdrawal, which may not be optimal for smaller investors. Users can stake several cryptocurrencies with its mobile app and computer extension’s simple UI.
3. Guarda Wallet
- Assets Supported: 400,000+
- Can Convert to Cold Storage: Yes
- Staking/DeFi Support: Yes
Guarda Wallet hosts approximately 400,000 digital tokens, one of the most diverse assets. Guarda works as a crypto wallet on phones, computers, and browsers. It supports cold storage with hardware wallets like Ledger and enables users to stake assets from the wallet.
A highlight of Guarda is staking. You can win rewards using the crypto in your wallet. It’s ideal for those who want to stake many coins without worrying about compatibility. Some users say the wallet can be slow or laggy at busy times, which could affect fast transfer speeds.
4. Exodus Wallet
- Assets Supported: 300+
- Can Convert to Cold Storage: Yes
- Staking/DeFi Support: Yes
The famous hot wallet Exodus is easy to use and attractive, making it ideal for crypto-staking beginners. Exodus handles 300 assets and simplifies cold storage conversion with the Trezor hardware wallet.
With Exodus, users can stake several coins and collect rewards in their wallets. Its built-in exchange lets users swap currencies without leaving the wallet, ideal for stakes diversification. However, its lack of compatibility with several less popular cryptocurrencies may hinder niche asset holders.
5. Coinbase Wallet
- Assets Supported: Thousands
- Can Convert to Cold Storage: Yes
- Staking/DeFi Support: Yes
Coinbase Wallet is popular among U.S. cryptocurrency users, especially those who utilize Coinbase’s exchange. The Coinbase Wallet lets users store their assets and stake Ethereum and Algorand for rewards. It works with Coinbase, so customers can quickly transfer money from their exchange account to a wallet without holding it, providing them full control over their assets.
Coinbase Wallet is easy to use and supports several coins. However, it needs a desktop interface and has fewer assets for staking than other wallets. Still, it’s a good spot for crypto beginners.
6. MetaMask
- Assets Supported: 650,000+ (ERC-20 tokens)
- Can Convert to Cold Storage: Yes
- Staking/DeFi Support: Yes
Many Ethereumers use MetaMask as their wallet. DeFi and staking enthusiasts love it. MetaMask allows users to add non-enabled ERC-20 tokens to their wallets and works with Web3 apps, making it useful for DeFi users.
Due to its compatibility with the Ethereum network, MetaMask is the finest tool for staking Ethereum and other ERC-20 tokens. MetaMask has a mobile app and browser plugin but no desktop app, which may be a drawback.
Cold Wallets for Staking Crypto
People believe hardware or cold wallets are the safest way to keep cryptocurrency. These devices stay private keys offline, protecting them from hackers. They cost more than hot wallets but are safer for long-term storage and staking.
1. Ledger Hardware Wallet
- Assets Supported: 5,500+
- Can Convert to Online Storage: Yes
- Staking/DeFi Support: Yes
Ledger is a famous cold wallet brand. It supports over 5,500 cryptocurrencies, including Crypto.com and Guarda software wallets. Ledger protects your assets with two-factor authentication and offline storage.
Ledger uses DeFi technology to secure crypto stakes. The Ledger Nano S and Nano X cost $79- $149, respectively.
2. Trezor Hardware Wallet
- Assets Supported: 9,000+
- Can Convert to Online Storage: Yes
- Staking/DeFi Support: Yes
Trezor is the safest crypto wallet and staker, supporting over 9,000 assets. Trezor’s touch screen gadgets are easy to use and don’t connect to Bluetooth, safeguarding your secret keys offline.
Trezor provides high security and works with third-party apps, so serious stakes should be used even though it doesn’t support all NFT management or staking coins. Model One from Trezor costs $60, while the more powerful Model T costs $179.
Conclusion
If you’re in the U.S. and want to stake crypto, choose a wallet based on security, asset support, staking benefits, and usability. Zengo, Crypto.com DeFi Wallet, and Trust Wallet are popular staking wallets with easy-to-use interfaces for freedom and quick access. Advanced users who value security should stake substantial cryptocurrency on Ledger or Trezor. Consider the wallet’s supported assets, staking capabilities, and security to stake safely and profitably.
