Staking is one of the easiest ways to make money in the cryptocurrencies industry. It involves depositing your funds in an exchange and acquiring a proof-of-stake cryptocurrency. After this, you will be earning interest every day. Here are some of the best cryptocurrencies to stake in March.
Polkadot is a leading blockchain project that focuses on the creation of web 3.0 projects that are interoperable with other blockchains. It uses the concept of relay chains and parachains to achieve this. Parachains are blockchain projects that have their own native tokens.
Polkadot is a good cryptocurrency to stake because of the platform's positive future as the industry grows. Recently, we have seen positive developments in some of its top parachains like Moonbeam and Acala.
Further, DOT has an excellent staking yield. According to Staking Rewards, it yields about 14.02%, which is significantly higher than other chains. This explains why it has a staked value of $11.5 billion against a total market cap of $20.36 billion.
Cosmos is another proof-of-stake project that has shown substantial growth in the past few months. For one, many projects built using the Cosmos Hub like Terra and Thorchain have seen substantial growth.
Today, Terra has a market cap of over $34 billion, making it the 7th biggest cryptocurrency in the world. It has also become the second-biggest DeFi platform in the world after Ethereum.
And analysts expect that the Cosmos Hub will continue growing in the coming months as more developers embrace it and its networks. For example, we have seen strong growth of applications like Osmosis and Anchor Protocol.
Cosmos is a good coin to stake because of its high yield of 14.19% and the fact that it has a bright future.
Near Protocol is another good cryptocurrency to stake. It is a leading decentralized platform that enables people to build quality applications of all industries. Today, it has been embraced by Decentralized Finance (DeFi) and Non-Fungible Token (NFT) developers.
Near Protocol is also going through changes as it embraces the sharding technology. As a result, there is a likelihood that the network will continue growing in the coming months.
The Near Protocol is a good coin to stake because it is offered by various companies. It is also seeing strong intrinsic growth and has a strong yield of 10.63%. Its staked value is $4.57 billion against a market cap of over $7 billion.