There are many aspects to consider when it comes to staking; looking solely at the yield seems inadequate to me. The world has changed, and the powerful are turning to various regulations against the freedom-oriented crypto scene.
The regional aspect of selecting the right provider is therefore just as important as the achieved net yield. Some countries without specific regulations (such as the USA) could complicate, block, or even make staking impossible, and possibly even seize coins. Countries like Switzerland, Singapore, and more crypto-friendly EU states are therefore more suitable options than American providers. In the case of significant sums, even regional diversification makes sense by using multiple providers in different countries. This prevents the risk of being blocked due to short-term changes in legal conditions or the initial creation of regulations in one country.
Of course, one can also choose decentralized platforms, but on the one hand, this means foregoing advice and support, and on the other hand, there are usually additional risks, as so-called liquid staking protocols like the ETH staking leader Lido are based on smart contracts. Whether a slightly higher yield is worth this additional risk is a decision each person must make. Personally, I use such platforms to a limited extent and prefer established partners.
However, the net yield is not immediately apparent, even if the returns are stated in "APR" percentages after fees. This is because most providers have yield-free waiting periods to consider, meaning you might stake your Ethereum, but it takes some time before you receive your returns. These waiting periods are less relevant for very long investment durations of many years. However, the crypto space is highly volatile, and many developments occur suddenly, causing us to reconsider our decisions. For shorter timeframes, these waiting periods strongly affect the actual yields:
Let's take Ethereum service providers (investment period from today, August 24th, to Christmas): Decentralized platforms (with additional risks: smart contracts, detpeg of staking tokens from ETH price):
Lido: Offered yield 4.8% - Waiting period 14 days = real yield 4.25%
Rocket-Pool: Offered yield 3.8% - Waiting period 21 days = real yield 3.15%
Companies:
Coinbase (USA): Offered yield 3.25% - Waiting period 30 days = real yield 2.45%
Binance (wherever the legal home of the staking service is? Definite additional risk due to legal prosecution in the USA): Offered yield 4.28% - Waiting period 45 days = real yield 2.7%
Bake (Singapore): Offered yield 3.59% - No waiting period = real yield 3.59%
It is clear that waiting periods have a particularly strong impact on real yields for sub-year periods. Additionally, when and how often the earnings are credited to generate "compound interest" also plays a role. Here, Bake leads with twice-daily credits ahead of all competitors.
Furthermore, one must consider how quickly one can have their staked coins available again. In this aspect, decentralized platforms have a clear advantage, as the "staked ETH" tokens are also tradeable. Only Bake can offer a comparably fast liquidation here with the help of the Defichain DEX.
The highest yields are naturally achieved by those who do everything themselves and keep their computers running 24 hours, but this requires expertise and costs energy and equipment depreciation.
Therefore, I use the staking service provided by Bake https://bake.io/?ref=517057, as I do not know yet how long I want to remain invested in Ethereum staking, for example.