POS is an abbreviation of “Proof Of Stake.” Many new traders would be confused about what Proof Of Stake coin is? Nowadays, cryptocurrencies working on the concept of blockchain are amongst the most popular ones among traders. In this article, we are going to look into what is a POS coin and look at some of the best POS coins available for the traders who are interested in them.
So let’s start off with the concept of crypto staking. Crypto staking is basically a process in which a trader is required to own a minimum amount of any cryptocurrency and then hold them in order to get rewards and stabilize the market. These rewards are pretty good that many investors have shown their interest in staking. So to answer the question about what POS coins are, then let me tell you it is a mechanism in which it is required by a trader to hold Proof Of Stake in order to hold and validate the crypto coins. It depends upon the number of coins that the trader is holding at a time. As it is stated, if a miner is holding a large number of POS coins, then more power to mine he will possess. With that being said, there are many options of coins that are eligible to POS, but in order to remove the confusion among traders of which coins to choose, here are our top picks for the best POS coins.
Top 10 Best Proof Of Stake (POS) Coins
NEO
The old name of NEO is Antshares. It is basically a competitor of Ethereum coin and also known as Chinese Ethereum or Ethereum killer. This is an open-source cryptocurrency and platform of blockchain. Even Though they have their own coins known as NEO cryptocurrency, they are still providing other options such as ANC-Altcoins or GAS. This means that you can even hold a token of GAS on this platform and get a very decent amount of profit. NEO is providing some of the best features for its customers, which allow them not to make a staking account every time they want to stake, but instead, it has a very wide variety of applications that are decentralized. The security features of NEO include different biometric verifications like Facial recognition, Fingerprints, and voice recognition as well.
If traders decide to hold NEO coins on amongst the most popular exchanges known as Binance exchange, they are going to get approximately 1.95% per month as a reward. And that makes around 0.0016 of NEO per month and 0.0195 per annum if they own 1 NEO. NEO has also collaborated with some of the popular wallets, such as Atomic wallet and Guarda wallet, from where you can also stake NEO coins if you wish to do so. Both of the wallets offer the same amount of reward, which is 1.95%.
Tezos (XTZ)
If you have been in the field of cryptocurrency, then probably you would know about Tezos, also known as XTZ. It is one of the most popular staking coins which offers the best yearly interests. It is relatively a new option as compared to the other old ones, but their promising profits and rewards have made their place in the hearts of many traders. According to a report, $232 million was the rise of XTZ during ICO, which shows how much potential this coin has. The crypto is not owned by any individual or group. Instead, it is open for the general public to invest in it and earn some reasonable amount of profits. And XTZ is definitely one of the top options that traders have with incredible features like LPOS, and not only that, but it also provides modern blockchain.
The staking process of XTZ has been kept extremely easy. The fees are also competing with the market as they allow XTZ to be staked on Binance with 0% fees, whereas other POS coins are charging a pretty handsome amount from your staking if you wish to stake them. If you wish to stake through one amongst the most famous platforms, Binance, it is providing you with two options, first is that you can bake Tezos coin with a 6.20% reward per annum, or you have an option to delegate Tezos with 5.50% per annum as a reward. Other staking platforms like Guarda wallet and others are also providing you with the same amount of reward with 0% fees so that you can get all the reward that you deserve without giving it to any of the service providers.
DASH
DASH is again a very popular cryptocurrency that has gained a lot of attention over the years by traders and investors. This cryptocurrency is providing electronic currency, which is decentralized based on peer-to-peer connection, which makes the actual cash transparent in the real world, for example, USD, GBP, or EUR.
If a trader owns around 1000 DASH units, he is capable of running a node known as a master node by staking coins. The current price of 1 DASH unit is approximately $300, which means you need at least $300,000 of investment if you wish to stake DASH, but as the investment is high so the rewards that you are going to get out of it is also very high, the annual reward of 5.27% is offered by the platforms like atomic wallet, Guarda wallet, and ledger wallet, same is the case if you stake it through any exchanges like Coinbase and Binance. If you do the maths, you will come to know that why many traders are so interested in this concept of staking coins, and with keeping in mind that you don’t have to do anything after staking, just sit back and enjoy your life while crypto is multiplying your investment by a significant number every year.
QTUM
QTUM project has created QTUM as an open-source cryptocurrency. The company has kept the blockchain technology decentralized in order to handle smart contracts with the authorities of POS. Hybrid versions of some of the most popular cryptocurrencies are also available, which include Bitcoin and Ethereum, which are still allowing traders to stake them. QTUM is one of the strongest networks when it comes to technology. The platform is focused on two very popular cryptocurrencies in the world, as we have discussed before. The main purpose of making this coin is to provide customers with a trustworthy and rewarding option to stake coins. The platform allows traders to use tools provided by Ethereum and Bitcoin to boost these coins as well. The platform uses Ethereum virtual machines to run QTUM by smart contracts. That means Ethereum and QTUM are working side by side to provide the best services to the traders who are interested in staking.
If we talk about the numbers, QTUM is providing 6.0% of reward to its stakes per annum if you stake it on Coinbase and Binance exchanges. If the trader decides to stake it through the wallet, the reward remains the same, and on top of that, there are no fees that are charged by any of these platforms.
CUTcoin (CUT)
It is one of the most ambitious projects which are offering digital cash. The platform is using one of the best encryption technologies, which allows it to have blockchains like, Bulletproofs, RingCT, and many more. The transactions done on this platform are named digital cash transactions. Privacy is the key factor of digital cash, so for all of the traders who are looking for a platform that provides privacy, CUT is the option they want to try. It is a privacy-centered cryptocurrency but not like some other options. Instead, it is built on an eco-friendly POS consensus.
CUT is providing a platform where traders can stake all of their coins by simply keeping them in their wallets, which means you don’t have to risk your investment by giving it to the developers. It is a human right that is considered a standard right to safeguard his privacy, and CUT is taking that into consideration and providing a platform where you can stake CUT without compromising on privacy. The reward of staking CUT per year 25%, which is not comparable to any other options available in the market. And the plus point is that traders don’t have to wait for a whole year. Instead, the reward is credited on a daily basis in the wallet of the trader.
Cosmos (ATOM)
It is another option that provides one amongst the most decentralized and individualized blockchains. Both networks, one of Tendermint and one of Byzantine, are algorithms that are sensitive to faults. These are also processed by blockchains which are decentralized. ATOM uses DPoS, which means that validators and delegators are the ones who are operating in this platform. The delegates are going to determine the validators who need to be engaged, as well as they, will also verify transactions that are performed by traders and include chains that are new as well. The traders are offered to receive rewards from staking ATOM, but not only that, but they can also utilize any form of representation that belongs to a blockchain that has been incorporated within a network.
Recently, ATOM has secured a standing at the 25th position in the list of the biggest cryptocurrencies in the world by market value which makes it a very preferred and popular option among traders and investors. ATOM is promising to give 8.32% rewards yearly on the Binance and Coinbase exchanges. The same goes for the wallets as well as atomic and ledger wallets. The number of profits is credited into the accounts of traders, and the percentage is quite competitive to other options on this list as well, which makes it a good option for traders to stake.
PIVX
PIVX stands for “Private Instant Verification Transaction.” It is another cryptocurrency that is focused on delivering the best security during your trade. In 2016, PIVX was dissolved by DASH with an ambition to provide a no-limit staking option where traders who are not capable of investing large amounts of money can stake this coin without any minimum limit of investment. This makes it a very popular option among new traders who are just starting with staking.
The platform is also offering a master node option. This means that a trader has to own 10,000 units of PIVX in order to run master nodes. If we talk about the reward, PIVX is granting a total return of 5% on your investment, which makes it a really good option on the list. The traders who have minimum units of 10,000 PIVX can earn this reward by running the node, which is mostly referred to as a master node. There are two options that a trader has while using this option. They can either run a master node. If not, then they can also stake their possessing coins in different exchanges and wallets as well.
LISK (LSK)
This is a platform that is dependent on blockchain that allows traders to construct decentralized applications (DApps) on its network. The platform also provides the ability to the traders and investors to construct side chains as well. These side chains are applications where the app’s structure is built on this platform of LISK blockchain. The interface of LISK has been kept simple and easy to use for users and uses the language of JavaScript for its programming. Traders can stake LISK from many platforms like Kucoin, OKEx, Bit-Z, and many more as well. Lisk coin or LSK is the currency label of LISK. This is a primary option that is used in applications that are decentralized on the chain of Lisk.
Talking about the rewards for which every trader decides to stake coins, LISK can be staked on different exchanges and wallets such as Binance exchange, Atomic wallet, and Coinbase with the same reward, which is 1.6% for the traders who are voting for delegates and 5.24% for those which are running a delegate node. The option of voting for delegates makes LISK the best option for the new investors who have just stepped into the world of crypto staking.
Algorand (ALGO)
It is another blockchain network that is built as a legitimate open-source, open blockchain to allow the economy which is borderless. For the traders who didn’t understand this, in simpler words, Algorand requires an ecosystem that is going to allow everyone to be actively participating. The platform was built with the concept of usability, simple usage, and instant transfers. This feature allows blocks to be finalized instantly, and not only that but the network’s transactions are also improved every second. The mainnet is capable of handling one thousand transactions every second without any error or delay. However, the delay is negligible, with 5 seconds maximum time taken per transaction.
ALGO is listed among the top exchanges and wallet staking sections. Algo is affiliated with many cryptocurrency exchanges such as OKEx and Coinbase Plus that are also a part of the market. If investors choose Binance to stake their crypto, then it can help to gain a good amount of income. The reward can be as much as 5.79% if you choose to stake your ALGO on Binance. This way, you would get 0.0579 if you invest one ALOG per year.
VET (Vechain)
Although there are many network ventures in the market, VET is still one of the biggest and most influential ones. In 2020 it was also recognized as one of the best coins that can be staked, and ever since they have started out in the supply chain, they have gotten a lot of attention. Ever since they have used blockchain technology, it has helped to improve their motive. They started out in 2015 but managed to become very well established. They have worked towards introducing smart transactions. This includes factors such as inventory management monitoring and quality assurance. All of these are a subcomponent of what makes logistics.
Vechain targets two coins which are BTHO and VET, and in order to stake VET coins, you have to access VTHO through the master node. Furthermore, Vechain is fueled by BET. The benefit of using Vechain as compared to others is that it is much more advanced and makes staking easier and more worthwhile, as it also provides access to the mobile app.
If you are looking to stake your VET tokens on Binance, then you have five options to choose from. This variety is really rare, and it includes authority nodes, 3.17% annual reward, or 1.87% annual reward. The first one is the most beneficial, but you can choose any of them.
Conclusion
Many people have started using POS currencies to start earning a passive income. This has been regarded as one of the most innovative and simpler forms to earn. To start using these currencies, you do not have to pay a lot. They have made it quite easy, and the reward is also pretty high. You can expect a free reward of 1% to 5%, and there is a huge variety of coins to choose from. The ones I have listed are some of the best ones, but if you wish to explore them, there are many more. These have the strongest and most beneficial features too.
