Solana (SOL) is currently one of the most popular blockchain platforms in the world. Because of its speed and security, it is well-recognized in the blockchain community. It is also environmentally friendly because it makes use of historical evidence. Moreover, despite the 2022 global cryptocurrency meltdown, Solana has maintained its appeal. If you own SOL or want to buy some, Solana staking is something to consider. Staking is a method of earning benefits from your cryptocurrency by locking it in the blockchain network for a set period, where it works to confirm transactions.
To stake Solana, you must first move your funds into a wallet supporting it. So, let’s look at seven of the finest Solana wallet alternatives accessible right now.
1. Phantom Wallet
Phantom Wallet comes in second place on this list, as it has nearly all of the same features as Solflare. In addition, it supports Ledger Nano X devices and allows you to access NFTs and digital valuables. It’s also noncustodial, like Solflare.
Phantom integrates inside Chrome and is accessible with a single click. It includes tools for viewing NFTs and supports SPL tokens. Knowing that you can purchase NFTs using Solana makes it helpful. If you ever want to exchange USDC or gain access to the world of DeFi apps created on the Solana blockchain, you can do so immediately.
Because Phantom Wallet supports staking natively, you can rapidly put your SOL to work. However, ensure not to stake all your SOL holdings, as the wallet will not stop you. If you don’t, you must add extra SOL to unstack it!
2. Solflare Wallet
The Solflare Wallet is likely the greatest Solana wallet available. Because of its interaction with Ledger, the app is web-based and provides excellent security. This will work very well if you have a Ledger device.
Solflare also offers a simple browser extension and a mobile app for Solana staking. This is a fantastic option if you need quick access to your SOL. However, only you can access the private keys because it is noncustodial.
It’s also great for NFT because the addon works directly from your browser. So you can effortlessly stake and unstack your SOL with a single click. But before you may stake again, expect a cooling down period.
3. Coinbase Wallet
It is a noncustodial mobile wallet that supports various cryptocurrencies, including SOL. You may quickly stake your SOL using this wallet to gain rewards. The app is simple to use, secure, and includes two-factor authentication and biometric login options.
One advantage of utilizing Coinbase Wallet is that it connects with Coinbase and Coinbase Pro, allowing quick asset transfers between the exchanges and the wallet. For example, you may quickly purchase SOL on the exchange and move it directly to your wallet for staking.
The wallet supports various Solana-based assets and NFTs, allowing for simple interaction with Solana-based decentralized apps.
The wallet levies a gas price for each transaction, which can be costly during periods of significant network congestion.
4. Atomic Wallet
Atomic Wallet is an excellent multi-cryptocurrency wallet for both mobile and desktop platforms.
It is consistent with various operating systems, including Linux distributions such as Ubuntu and Fedora, and Windows, macOS, iOS, and Android. In addition, SOL staking on Atomic Wallet provides 7% annual rewards via its Android wallet.
Atomic Wallet supports 300 cryptocurrencies, and its ease of use makes it a popular alternative for consumers who need instant access to their Solana from anywhere.
5. Exodus Wallet
Exodus, like Atomic Wallet, is a multi-cryptocurrency wallet available for various devices, including Linux distributions, macOS, Windows, iOS, and Android.
To access the desktop version of Exodus, you must link a hardware wallet: a Ledger, Trezor, or any of the most suitable hardware crypto wallets. In addition, Exodus supports over 150 cryptocurrencies and provides access to many crypto apps directly from the dashboard.
Expect a 6 percent APY if you’re interested in staking SOL through Exodus. It’s not spectacular, but it’s also alright.
6. Math Wallet
It supports over 85 public chains and is backed by industry heavyweights such as Multicoin Capital, Binance Labs, and Fenbushi Capital.
Math Wallet also provides access to DApps such as Tulip and Solstake, allowing you to stake your SOL tokens effortlessly. Math, like all other wallets on this list, is noncustodial. However, there is a browser extension, a web-based wallet, and a mobile app accessible.
Math can be connected to your Ledger Nano X or WOOKONG Bio device. Math also has a handy gas tracker app called MathGas, which tracks real-time gas costs for several cryptocurrencies.
7. Zelcore
Zelcore is a multi-cryptocurrency wallet that supports all Solana tokens and SOL. Each Zelcore account has three distinct addresses, allowing you to store each asset independently.
It supports SOL, BTC, ETH, and over 270 other cryptocurrencies. Zelcore is accessible on Android, iOS, and desktop devices. It employs a bespoke adapter solution based on Sollet to enable users to connect all their DApps from a single browser tab.
The wallet’s versatility and ease of use make it a good solution for users serious about staking on Solana.
Why Stake Your Crypto?
Half the struggle is figuring out where to stake Solana. But why bother staking Solana in the first place?
Staking SOL or any other popular crypto allows you to receive incentives if you hold a large amount. You can raise your investment and get more by putting it to work. Staking Solana, or any other cryptocurrency, allows you to make extra money from your initial investment, which is a terrific way to expand your crypto assets.
The interest rates on offer are also significant depending on where you stake. You can stake additional cryptocurrencies besides SOL, such as Ethereum, Tezos, Cosmos, and Cardano.
The ideal place to stake Solana is determined mostly by your particular financial objectives, app feature preferences, and chosen operating system(s). So, grab this list of the top Solana-staking apps and dominate the world.
