Top 7 Profitable Proof Of Stake (POS) Cryptocurrencies

Let’s talk about popular proof of stake cryptocurrencies today…

We already know one of the more important question that might cross your mind would be:-Why proof of stake cryptocurrencies? Why should one know them? What’s so special about them?

So to answer such questions let’s get started…

Proof of stake (aka POS) cryptos has many technical benefits but apart from that some proof of stake cryptos also give different economic benefits/dividends to its HODLers by giving them the option of running a masternode or staking their coins in a stake-able wallet.

To simply put into perspective i.e you can earn by just holding many POS cryptocurrencies.

This provides dual benefits of securing the blockchain network as well as creating an opportunity for users to get incentives or dividends on their holdings.

New: $KCS is new coin of KuCoin exchange and their offer seems very lucrative. Right now the price is low and a good time to get in. I will do a detailed guide on KuCoin later. For now, you can watch this video to understand more about this exchange and the coin itself.

But for the newcomers, let me explain what distributed consensus and POS is:

Distributed consensus simply means a large pool of people who are geographically segregated agreeing on something. In cryptocurrencies like Bitcoin, ‘something’ here means agreeing on which transactions or blocks are valid and which are invalid to be added/rejected to the blockchain.

AND

Proof of stake is a typical computer algorithm through which some cryptocurrencies achieve their distributed consensus. It is also a better alternative to the proof of work algorithm by achieving the same distributed consensus at a lower cost and in a more energy efficient way.

So if you are holding any such POS cryptocurrencies, then I think you should know how to start earning dividends by staking them in the right wallets.

And if you are not holding any such POS currencies, then you should start looking into them, as they can be an excellent source of smart passive income.

For starters, here is a list of the seven best POS cryptocurrencies…

Top 7 Profitable Proof Of Stake Cryptos

1. DASH

DASH is a popular cryptocurrency known as digital cash. It is one of the pioneer cryptos to implement a proof of stake consensus mechanism.

Dash is a unique crypto built upon Bitcoin’s core with additional privacy and quick transaction features such as PrivateSend and InstantSend. It advocates itself as peer-to-peer decentralized electronic cash and intends to be as liquid as real cash which we use in our respective countries like USD/GBP/EUR/INR or CNY.

DASH also allows its HODLers to earn dividends in the form of DASH by running a masternode. But the catch is that you need minimum 1000 DASH units to run a masternode and at the time writing one unit of DASH is approx $300 in price. So if you want to make an investment of $ 300,000 (i.e. 1000 units * $300) to get an annual return of 7.5% plus the price appreciation reward of DASH over the time then this the best way forward because DASH is a promising crypto to HODL. And what is better than earning even on your HODLings.

Also if you were an early adopter of DASH and have a significant amount of DASH units then you should definitely look into this.

Note: We know DASH is not a truly POS but its masternodes work kind off in a POS way and keeping DASH coins there is very profitable that’s why We have listed it here.

2. NEO

NEO, formerly known as Antshares, is the first Chinese open-source blockchain project, tagging itself as a “distributed network for the smart economy”.

NEO is also a cryptocurrency that exists on NEO’s blockchain. Apart from the NEO cryptocurrency, NEO has one more crypto-token called GAS (formerly know as ANC or Antcoins) which can be staked in a NEO wallet for a handsome return and doesn’t require you to keep your staking wallets open all the times like in other POS cryptos.

The return one earns is in the form of NeoGAS, which is now worth $24 each (at the time of this writing).

3. PIVX

PIVX is the abbreviation for Private Instant Verified Transaction. It is a POS cryptocurrency that focuses on privacy and security while transacting.

It was forked out of DASH in early 2016 and is a fully functional POS currency that allows its users to stake coins on the blockchain with a decent return. Another important thing is that you can stake any amount as there is no cap on it, which I think is a nice low-entry barrier.

Another way of earing thorough PIVX is by running a masternode of 10,000 PIVX units which also gives you an annual 5% return on your holdings. So if you have PIVX ins significant amount you can start right away staking them in a masternode from now. Here is a DIY guide to set up your masternode and if you don’t want to do it yourself then here are a few masternode services that do it on your behalf for a small fee.

4. OkCash

OkCash is another proof of stake cryptocurrency that started off in 2014. It aims to be a fast currency that can be used for microtransactions.

And in terms of staking rewards, it provides the highest returns to its users.

For this, you just need to move your OkCash coins to a staking wallet, and it will start earning OkCash at a fixed percentage as a reward of minting blocks through staking. Another important thing is that you can stake any amount as there is no cap on it, thus making it low-barrier.

5. NAV Coin

NAV Coin is the first cryptocurrency that has a dual blockchain for private transactions.

It is a fully functional POS cryptocurrency operating since 2014 based on Bitcoin’s core code. Some of the USPs of this currency are faster transactions (30 seconds), optional privacy with dual blockchains, and a POS staking rewards system that allows you earn while you are sleeping.

There is also no cap for staking.

6. Stratis

Stratis a POS cryptocurrency and a blockchain-based platform which simplifies development, testing, and deployment of C# applications on the dot NET framework.

STRAT is the native token (or cryptocurrency) which runs the Stratis platform and can be staked in a Stratis wallet to earn rewards.

Profit rewards are quite low for Stratis staking in comparison to its peers, but if you have a significant amount of STRAT, then you can think of staking it.

There is also no cap for staking.

7. Reddcoin

Reddcoin aims to be the tipping currency of social networks.

Using POS cryptocurrency Reddcoin, you can tip anyone for any content that you like on various social media platforms.

Being a POS currency, Reddcoin can also be staked in a wallet which gives handsome returns to its holders.

Like all the others, there is no cap for staking.

Our Thoughts On Staking

Staking POS currencies is definitely one of the smartest ways to earn passive income. And in many currencies, the entry barrier is low to get started.

A 1% to 5% free reward is not bad at all for literally doing nothing and just keeping your wallet open.

Also, when we think of negative and zero interest rates in some countries like the US, then cryptocurrency staking is much more profitable.

There are few more currencies such as NXT, PAY, etc. that provide staking rewards, but the rewards are so low that I didn’t feel it worthy to list them. On the other hand, there are currencies like DASH and PIVX that provide rewards only to masternodes that are staking a minimum of 1000 DASH units & 10,000 PIVX units respectively, which I believe is a very hefty investment for many.

 

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