What is the Best Wallet for Staking on Starknet?
Starknet, the new place for Staking!
Starknet offers great staking opportunities, but to get the most out of it, you’ll need the right wallet! We’ve explored the available options so you can start on the right foot.
Being early in a growing ecosystem has the potential to produce high yields, and Starknet is no exception. We have seen average yields on Staking solutions ranging from 5% to 30%. Recently, with the launch of AMMs featuring concentrated liquidity, we’ve observed yields of up to 41%!
So, if you’re ready to lock your crypto and earn rewards, make sure to start with the right wallet, one optimized for staking activity. And Starknet has what you need!
The three reasons why staking on Starknet is the right choice
If you’re looking for new staking solutions, Starknet has some surprises.
- As a scalability solution built on Ethereum (ETH), you can use your ERC20 tokens easily and benefit from the same security as Ethereum. There are already a few bridges in place for smooth transfers.
- Starknet’s value proposition is fast transactions and low gas fees. The network is steadily improving, with fees an order of magnitude lower than on Ethereum. Even lower fees are expected by Q1 2024.
- Lastly, Starknet wallets offer a radically different user experience thanks to Account Abstraction, a new technology that makes crypto as easy to use as Apple Pay.
These wallets are known as ‘Smart Wallets.’ Comparing your EVM wallet to a Smart Wallet is like comparing a mobile phone to a smartphone—a world of possibilities opens up.
The smart wallet, the advanced DeFi wallet for staking
Yes, Smart Wallets are revolutionary. Smart Contract Wallet offers a vastly improved user experience (UX) and incorporates security features that are unprecedented. That’s right!
But we can anticipate your concerns. You might be thinking that creating a new wallet will be complicated and time-consuming, but wait! As mentioned earlier, the UX is significantly better than what you’ve experienced before. You can create a wallet in just a few clicks, and you can onramp funds directly from the wallet itself.
Several Smart Wallets are already available on the market, and more are on the way.
Currently, four wallets are operational on Starknet:
- Braavos Wallet: as of this writing, this smart contract wallet has the highest growth rate in the last 12 months on Starknet.
- OKX: this is the latest wallet launched on Starknet, offering basic features.
- Argent X: this standard wallet has recently announced its decision to cease activity on ZKSync and concentrate on Starknet.
- MetaMask: the popular EVM-compatible wallet is not yet fully operational on Starknet. MetaMask Snaps, an extension of MetaMask, is compatible but offers limited functionality on Starknet.
While Starknet has indicated that other options are in development but not yet operational, our focus will be on Braavos, OKX Wallet, Argent X, and MetaMask Snaps.
If you’ve heard that MetaMask is available on Starknet, that’s not entirely accurate. MetaMask Snaps, a separate extension, is compatible, but it doesn’t enable staking activities.
Best staking wallets on Starknet: a comparison
Smart Wallets come with a variety of features. In this comparison table, we will focus on those that offer the best value for Staking and, in a broader sense, DeFi activities.
(⭐ 1FA, ⭐⭐ 2SV , ⭐⭐⭐ 2SV Decentralized , ⭐⭐⭐⭐2FA , ⭐⭐⭐⭐⭐3FA)
What is the best wallet for staking on Starknet?
Braavos Wallet is the optimal choice for staking on Starknet.
The key reasons include its built-in ‘One-Click Earn Yield’ feature and superior security levels that surpass all competitors.
You can learn more about their Stake+ solution by clicking this link. But the best way to experience it is by downloading and trying the wallet. In the test version, no real funds are required to see how it works and make your decision.
Download and try Braavos, the Smart Wallet, for your staking needs today!