Best Cosmos ATOM Staking Rewards and Interest Rates

Best Cosmos ATOM Staking Rewards and Interest Rates

Welcome. in this article we present the best Cosmos (ATOM) staking rewards interest rates on the market.

Cosmos might become the most important cryptocurrency with regards to blockchain interoperability. Nowadays, it can be very annoying to transfer cryptocurrencies between different protocols and have one separate wallet for each one of them. Cosmos, with its ATOM currency, might have a solution for this.

If you HODL your cryptocurrencies it can be a perfect opportunity to earn crypto passive income on them.

No Financial Advice, Information only. Do your own research

What is Cosmos ATOM?

Cosmos (ATOM) is a decentralized ecosystem of independent blockchains. Cosmos is enabling blockchain interoperability, currency exchanges, and an Internet of Blockchains (IoB).

Atom (ATOM) is the proprietary staking coin used by the network and also tokenizes transactions.

What problem does Cosmos ATOM solve?

Cosmos solves the interoperability challenge for cryptocurrencies.

Without Cosmos two digital currencies need to have compatible technologies and protocols in order to interact. Cosmos’ Inter-Blockchain Communication protocol gives users the possibility to exchange assets from one blockchain to another.

Best Cosmos ATOM Staking Rewards

In the table below we have listed the best Cosmos (ATOM) staking rewards you can find.

Below the table we compare these three services with pros and cons for each one of them.

Reviews

Interests

Invest

*Sign up bonus with terms and conditions

**Reduction in fees

Binance best Cosmos ATOM staking rewards

Binance has the best Cosmos ATOM staking reward rate with 10.92%. Binance is the largest crypto exchange and has very good interest rates for many different cryptocurrencies, including ATOM.

However, notify that the Binance locked staking has to manually be renewed every 15, 30 or 60 days, dependent on your staking interval.

  • Stake 60 days: 10.92% APY
  • Stake 30 days: 9.47%
  • Flexible staking: 1.42%

Pros and Cons with Binance Earn staking

Pros and Cons with Binance Earn staking

Pros

  • Great staking rewards (Often the highest APY)
  • Many cryptocurrencies available
  • Very easy and user-friendly interface
  • Binance crypto VISA debit card accessible

Cons

  • Lockup periods for 30 or 60 days to achieve the best interest rates
  • Doesn´t allow US customers
  • Have to manually renew the staking periods and the interest rate might change over time
  • Certain staking products can be filled up

Kraken 2nd best Cosmos ATOM staking rewards

Kraken is offering the 2nd best Cosmos (ATOM) staking reward. Kraken is one of the largest crypto exchanges and is based in the US. Kraken is offering very competitive staking rewards for all its listed staking cryptocurrencies.

Kraken is the best crypto exchange for US citizens according to us. In addition to staking rewards Kraken is offering Polkadot parachain slot auctions.

 

Kraken Staking Pros and Cons

Kraken staking pros and cons

Pros

  • No lockup period
  • High rewards
  • Allow US customers
Cons
  • Not user-friendly for a beginner

Coinbase 3th best Cosmos ATOM staking rewards

Coinbase is not offering the best Cosmos (ATOM) staking rewards. Coinbase is focusing more on offer a beginner friendly platform than on maximum payouts and minimal fees for their customers.

Coinbase is a regulated crypto exchange in the US and therefor allowing US citizens trading on their platform.

Also, Coinbase is offering a crypto VISA debit card.

Coinbase staking Pros and Cons

Coinbase staking rewards pros and cons

Pros

  • Easy and beginner friendly interface
  • Competitive yields (but not the best)
  • Regulated US exchange

Cons

  • Only a few countries are supported for this feature

Risks with Cosmos ATOM staking Rewards

As all financial investments, Cosmos ATOM staking involves certain risks.

Since all staking rewards we have mentioned in this article are through a 3th party service, there will be some additional risks.

Some of the risks are, but not limited to,

  • The third party can be hacked
  • The third party can run bad business and go bankrupt
  • The third party can turn out to be a scam
Read more about crypto risk management 2021.

Where to buy Cosmos ATOM?

So,where to buy Cosmos ATOM if you don´t already hold them?

There are two great crypto exchanges for Cosmos ATOM

  • 1 for non US residents
  • 1 for US residents

Best place to buy Cosmos ATOM for non US residents

It´s easy to find the best place to buy or sell Solana SOL cryptocurrency. Follow these steps

  1. Go to Coingecko
  2. Search for ATOM
  3. Go to the markets tab 
  4. Look for the markets with most liquidity. In this case Binance

Best place to buy Cosmos ATOM for US residents

Coinbase is the largest US exchange and the largest regulated crypto exchange. Here, you will find all the largest marketcaps but not as many markets as on Binance. Also, Coinbase is a bit more expensive than Binance and Kraken.

You also might want to check Kraken exchange if you are US resident.

How to pay tax on Cosmos ATOM interest payouts?

Yes, you have to pay tax on your interest income from Cosmos ATOM, or any other cryptocurrency. 

We have an article about how to pay tax on crypto interest payouts.

Remember, there are crypto tax software specialized to identify your transactions and categorize them. In addition, these software automatically calculate your taxes and can even generate a complete tax file for you.

You need to connect your exchanges and wallets via an API to one of these software. Also, manually import via a CSV file will do the work for you.

We have tested a few different crypto tax software and landed in that Koinly and Cointracking are the overall best crypto tax software, both free version and premium version exists.

Tax Software

Offer

Go

Cointracking crypto tax software logo

No Financial Advice, Information only. Do your own research

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