Staking cryptocurrencies is often a great way to increase one’s portfolio. In the case of Tezos, the staking process is referred to as “Baking”. The following bakers offer the highest staking yield, although their fees may differ quite a bit.
At the top of the list, we find the 95th baker to be added to the list on MyTezosBaker. Baking Team is very popular, despite only being added in September of 2019. That makes it one of the more recent offerings to come to market, considering how some other services on the list date back to July of 2018.
What makes Baking Team of great appeal is how it has a 0% Tezos Bakingfee. For a service where users delegate their baking rights, operating at 0% fee is relatively rare. Especially when considering how its staking yield is 6.24% per year. It is the most efficient baking service today, but it is also almost always at full capacity.
Some people may be surprised to see the world’s biggest cryptocurrency exchange on the list. While not everyone may like Binance or how they handle business, it is evident that baking Tezos on this platform is worth looking into.
At the time of writing, Binance maintains 0% fee for baking XTZ, at an annual yield of 6.23%. It is slightly less efficient compared to Baking Team, but it still has available capacity. Relying on Binance for baking is an option, but only if one feels comfortable with doing so.
Another relatively new baking service comes in the form of Ateza. It originally launched in November of 2019 and quickly rose the ranks on MyTezosBaker. Offering to operate at a 0% fee is a smart decision, as it will attract a lot of attention from users looking to delegate their baking rights.
The annual yield for Ateza is more than respectable. Offering a 6.17% staking yield per annum is very competitive, as only a handful of providers manage to offer more than 6%. It is another baker almost always at full capacity, however, which is worth keeping an eye on.
Tezos San Diego
For a service that has only launched in April of 2020. Tezos San Diego is a rather surprising entrant in the list. Part of its high ranking is the high staking yield of 6.07%. Unfortunately, it would appear that this comes at a cost. Looking at its efficiency rating, it scores a “D”, which isn’t too great.
Moreover, Tezos San Diego manages a 3% fee on all rewards paid out to users. This may be the main reason why this project is at very low capacity, Upping its efficiency needs a bit of work, as a low efficiency indicates the service has missed its opportunity to validate blocks a few times already.
Another new baking provider has managed to make it in the top 5 at this time. Baking Tezos through Tezos Maximalist will be more appealing compared to the previous provider for obvious reasons.
Not only does it have a higher efficiency of “AAA”, but it also has ample capacity to be filled. Furthermore, this baker has a lower fee of 2.5% compared to the 3% of San Diego. Its staking yield is slightly lower at 6.05%, which is still more than respectable.