5 Best Solana Staking Platforms
Want to know where to stake Solana, how to stake Solana & the best place to stake Solana? Check out our Solana staking guide for 2025 for all you need to know.
Best Solana staking platforms: At a glance
Platform | Staking Rewards (APY) | Fees | User-Friendliness | Additional Features |
---|---|---|---|---|
Phantom Wallet | Varies by validator | None | High | Non-custodial, easy setup |
Solfare Wallet | Varies by validator | None | Medium | Ledger integration |
Coinbase | Approx 6% | Low | High | Beginner-friendly platform |
Jito Networks | Varies by validator | None | Medium | High-performance validators |
BlazeStake | Approx 6% | None | Medium | Auto-compounding rewards |
Let’s take a look in more depth.
Phantom Wallet
Phantom Wallet is a user-friendly, non-custodial option that allows you to stake SOL directly from your wallet. The rewards vary depending on your chosen validator, so selecting a reliable option is crucial. Phantom’s intuitive interface and strong ecosystem support make it ideal for beginners and experienced users alike.
Solflare Wallet
Solflare is a non-custodial wallet that supports staking through various validators. With no fees and the ability to integrate with hardware wallets like Ledger, it provides enhanced security for your SOL holdings. This platform is suitable for those who prefer greater control over their staking activities.
Coinbase
Coinbase simplifies Solana staking for beginners, offering APYs of 5-6%. The platform’s user-friendly design and reputation for security make it an attractive option for new investors. While Coinbase charges a small fee, its convenience often outweighs the cost for many users.
Jito Networks
Jito Networks focuses on providing high-performance validators, ensuring maximum uptime and rewards. With no staking fees and reliable infrastructure, it’s a solid option for users who value efficiency and security. This platform appeals to those looking for stable and optimized staking services.
BlazeStake
BlazeStake offers decentralized staking with an APY of around 6%. Known for its auto-compounding rewards, BlazeStake helps users maximize their returns with minimal effort. Its transparent and efficient system makes it a popular choice for staking enthusiasts.
Read next: Best Solana Wallets
Should I stake Solana?
Staking Solana can be a smart move if you’re looking to earn passive income on your holdings while contributing to the security and decentralization of the network. With a variety of platforms offering competitive rewards, staking SOL can be both rewarding and straightforward. However, it’s essential to weigh potential risks, such as validator downtime or market volatility, before committing your funds.
Read next: Best Crypto Staking Platforms
How do I stake Solana?
Staking Solana is a simple process that varies slightly depending on the platform you choose. Here’s a general step-by-step guide:
Choose a platform: Decide between a centralized exchange like Kraken or a non-custodial wallet like Phantom.
Transfer SOL: Deposit SOL into your chosen platform or wallet.
Select a validator: If using a wallet, research and choose a reliable validator with a good track record. Skip this step if you’re using a custodial platform.
Start staking: Follow the platform’s instructions to stake your SOL and start earning rewards.
Monitor your rewards: Periodically check your staking rewards and validator performance to ensure everything is running smoothly.
Is staking Solana safe?
Staking Solana is generally safe, especially when you use trusted platforms and reputable validators. However, there are some risks to consider:
Validator risk: If your chosen validator experiences downtime, your rewards may be reduced.
Custodial risk: Platforms like Coinbase or Kraken hold your funds, which could be affected in rare cases of hacks.
Market risk: SOL’s price can be volatile, impacting the overall value of your staked assets.
By choosing reliable platforms and validators, you can minimize these risks and enjoy the benefits of staking Solana.
Don’t forget the tax bill…
Don’t forget, your Solana staking rewards come with a tax bill. You’ll generally pay Income Tax on your SOL rewards, based on the fair market value at the time you receive them (although this does vary depending on where you live so check out our crypto staking taxes guide).
For investors receiving regular staking rewards, it’s a lot of admin come tax time. Fortunately, you can use Koinly to easily and automatically calculate your tax liability, including identifying the fair market value of any staking rewards on the day you received them in your fiat currency.