Solana (SOL) is one of the most popular blockchain platforms in the world right now. It's highly regarded in the blockchain community because of its speed and security. It's also eco-friendly since it uses proof of history. And despite the universal cryptocurrency crash of 2022, Solana has maintained its popularity.
Solana staking is worth considering if you own SOL or plan on buying some. Staking is a way to earn rewards from your crypto by locking them in the blockchain network for a certain time, where it works to confirm transactions.
But to stake Solana, you must move your holdings into a wallet that supports it. So, let's unpack seven of the best Solana wallet options available today.
1. Solflare Wallet
Solflare Wallet is arguably the best Solana wallet on the market. The app is entirely web-based and offers fantastic security, thanks to its integration with Ledger. If you have a Ledger device, this will work very easily.
Solflare also has a simple browser-based extension and a mobile app for Solana staking. This is an excellent choice if you want easy access to your SOL. It's noncustodial, so only you control the private keys.
It's also very NFT-friendly since the extension works directly from your browser. You can easily stake your SOL with a click and unstake it just as quickly. However, expect a cooldown period before you can stake again.
Download: Solflare Wallet for Android | iOS (Free)
2. Phantom Wallet
Phantom Wallet is a close second on this list, as it shares virtually all the same features as Solflare. It supports Ledger Nano X devices and gives you access to NFTs and digital collectibles. And, similar to Solflare, it's noncustodial.
Phantom integrates into your Chrome browser and is available with a single click. It has built-in tools for viewing NFTs and also supports SPL tokens. This makes it useful, especially knowing you can buy NFTs using Solana. So, if you ever want to swap USDC or access the world of DeFi apps built on the Solana blockchain, you can do that immediately.
Since Phantom Wallet offers native support for staking, you can quickly put your SOL to work within minutes. Ensure you don't stake all your SOL holdings, as the wallet doesn't stop you. Otherwise, you'll have to add some more SOL to unstake it!
Download: Phantom Wallet for Android | iOS (Free)
3. Atomic Wallet
If you are looking for a versatile multi-cryptocurrency wallet for mobile and desktop platforms, go with Atomic Wallet.
It can be installed on several operating systems, including Linux distros, such as Ubuntu and Fedora, Windows, macOS, iOS, and Android devices. SOL staking on Atomic Wallet also gives you 7 percent annual returns through its Android wallet.
Atomic Wallet supports 300 cryptocurrencies, and its accessibility makes it a popular choice for people who want quick access to their Solana, no matter where they are.
Download: Atomic Wallet for Android | iOS (Free)
4. Coinbase Wallet
Coinbase Wallet is a noncustodial mobile wallet that supports many cryptocurrencies, including SOL. With this wallet, you can easily stake your SOL to earn rewards. The app is user-friendly, highly secure, and has two-factor authentication and biometric login options.
One of the benefits of using Coinbase Wallet is that it's integrated with Coinbase and Coinbase Pro, which allows for easy transfer of assets between the exchanges and the wallet. This means you can easily buy SOL on the exchange and move it directly to the wallet for staking.
The wallet supports other Solana-based assets and NFTs, allowing easy integration with decentralized applications built on the Solana blockchain.
The wallet charges a gas fee for every transaction, which can be expensive during high network congestion.
Download: Coinbase Wallet for Android | iOS (Free)
5. Exodus Wallet
Like Atomic Wallet, Exodus is a multi-cryptocurrency wallet available for several devices, including Linux distros, macOS, Windows, iOS, and Android.
Exodus requires you to connect a hardware wallet to access its desktop version, so you can use either a Ledger, Trezor, or any of the best hardware crypto wallets. Exodus supports more than 150 cryptocurrencies and also gives you access to a host of crypto apps directly through the dashboard.
If you are interested in staking SOL through Exodus, expect a 6 percent APY. It's not that awesome but also not terrible.
Download: Exodus Wallet for Android | iOS (Free)
6. Zelcore
Zelcore is another multi-cryptocurrency wallet that supports all Solana tokens and SOL. Each account you create on Zelcore will come with three discrete addresses, allowing you to store each asset separately.
It supports SOL, ETH, BTC, and over 270 other cryptos. Zelcore is available on both Android and iOS mobile platforms, as well as for desktop devices. It uses a customized adapter solution based on Sollet to allow users to quickly connect all their DApps straight from a single browser tab.
Zelcore's versatility and ease of use make the wallet an excellent choice for users serious about staking operations on Solana.
Download: Zelcore for Android | iOS (Free)
7. Math Wallet
Math Wallet supports more than 85 public chains and is backed by big names in the industry, including Multicoin Capital, Binance Labs, and Fenbushi Capital.
Math Wallet also gives you access to DApps, such as Tulip or Solstake, so you can easily stake your SOL coins. As with all other wallets on this list, Math is also noncustodial. A browser extension, a web-based wallet, and a mobile app are all available.
You can hook up Math to your Ledger Nano X device or your WOOKONG Bio. Math also has a nifty gas tracker app called MathGas, which tracks gas prices in real-time for different cryptocurrencies.
Download: Math Wallet for Android | iOS (Free)
Why Stake Your Crypto?
Knowing where to stake Solana is half the battle. But why even bother with Solana staking in the first place?
If you have a significant amount of SOL or any other popular crypto, staking it lets you earn rewards. You can increase your investment and get more by putting it to work. Staking Solana, or any crypto, enables you to make more money from your initial investment, which is a great way to grow your crypto savings.
Depending on where you stake, the interest rates on offer can be pretty generous, too. Apart from SOL, you can also stake other cryptocurrencies, including Ethereum, Tezos, Cosmos, and Cardano.
The best place to stake Solana largely depends on your personal finance goals, app feature preferences, and preferred operating system(s). So, take this list of the best Solana-staking apps, go forth, and conquer.