The 5 Best Platforms to Stake Solana (2024)

Staking Solana (SOL) presents a valuable opportunity for long-term investors to earn passive income. In this guide, we’ll walk through the top 5 platforms for staking SOL!

Quick look: The 5 best places to stake Solana

Phantom: Best overall ‍

Solflare: Best Phantom alternative 

Coinbase: Best centralized exchange for staking SOL 

Jito Networks: Best liquid staking solution for SOL 

BlazeStake: Best multi-validator staking 

The 5 best places to stake Solana

Phantom

Best overall

Reward rate: Varies based on the validator selected. Can be as high as 7.5%! 

Phantom is one of the most popular wallets for Solana users. Phantom allows you to stake SOL directly through the wallet’s browser extension and choose the staking validator you wish to earn rewards with. 

Solflare

Best Phantom alternative 

Reward rate: 7.11%

Solflare is another popular wallet for Solana users that’s available via desktop, mobile, and browser extension. The wallet allows users to stake SOL directly from their wallet — with a sleek interface and detailed analytics to track staking performance. Unlike Phantom, Solflare only allows users to stake through the Solflare validator. 

Coinbase

Best centralized exchange for staking SOL 

Reward rate: 5% 

Coinbase allows users to stake Solana directly on the platform. It's a convenient option for those who prefer to keep their crypto investments in one place. While Coinbase offers lower rewards than other options, the platform offers top-notch security! 

Jito Networks

Best liquid staking solution for SOL 

Reward rate: 7.8% 

Jito Networks is a liquid staking network that allows users to stake SOL without locking up their assets. When you stake your SOL with Jito, you’ll receive JitoSOL — a tokenized representation of your staked assets that you can freely sell and trade! This gives you an additional level of flexibility with your staked crypto! 

BlazeStake

Best multi-validator staking 

Reward rate: 6.1% 

BlazeStake is another liquid staking solution that allows users to earn flexible rewards. The platform is unique in that it spreads stakes among hundreds of validators to minimize the risk of failure! 

Should I stake Solana? 

Staking Solana can be a great way to generate passive income, especially for investors who are planning to hold SOL for the long-term! However, you should consider the staking platform's credibility and security, as well as the volatility of the cryptocurrency market before getting started. 

Do I have to pay tax on my staked Solana? 

Generally, staking rewards in SOL and other cryptocurrencies are subject to income tax upon receipt. 

For more information, check out our guide to how staking rewards are taxed.