Cryptocurrency staking

Top Cryptocurrencies To Stake For Profit

Read Time:3 Minute, 35 Second

 

WHAT IS CRYPTOCURRENCY STAKING?

Staking is the act of locking or storing coins in a network. As a result, the stake gets interest based on the amount staked. Staking strengthens the security of a network by incentivizing users to do so with passive income. Validators are high-priority users who indicate to the network that they will lend themselves to validating transactions if they stake a specific amount of coins.

Cryptocurrency stake

BENEFITS OF STAKING CRYPTOCURRENCIES

1. IT CAN BE DONE AT EXCHANGES

Staking a coin can be done quickly and easily at an exchange. KuCoin, Binance, and Coinbase are the exchanges that allows you to stake cryptocurrency.

 

2. IT’S EASY WITH COLD STAKING

Another unique feature is the ability to stake your cryptocurrencies ‘cold’, that is, meaning without them being connected to the internet at all times. This is quite useful and will make staking much easier.

 

3. STAKING REQUIRES LESS ENERGY

Staking uses less energy than mining since it needs less processing power, leading to lower energy consumption.

 

10 BEST CRYPTO STAKING COINS

1. ETHEREUM 2.0 (ETH)

 

Ethereum is the second most popular cryptocurrency in the world after bitcoin. It’s also a blockchain-based platform that allows smart contracts and decentralized applications (dapps) to be developed and run without the need for any downtime, fraud, control, or third-party intervention.

Staking Return: 7.5% Annual Percentage Rate (APR)

 

2. CARDANO (ADA)

Cardano is a distributed ledger technology that is open to the public. It’s open-source and decentralized, and it uses proof-of-stake to establish consensus. Its own coin, Ada, can help enable peer-to-peer transactions.

Staking Return: 19% Annual Percentage Rate (APR)

 

3. COSMOS (ATOM)

Cosmos is a scalable, decentralized, and interoperable platform on which new blockchain start-ups can easily build their services. It is bridging the gap between different blockchain service providers and making communication between them easier. This made it easier for everyone in the community to collaborate with various blockchain service providers.

Staking Return: 8.37% Annual Percentage Rate (APR)

4. ALGORAND (ALGO)

Algorand coin was created with the goal of enabling a borderless economy and eliminating the scalability problem in the blockchain while retaining security and decentralization. At the same time, by charging small transaction costs, it has managed to build a borderless economy.

Staking Return: 8% Annual Percentage Rate (APR)

 

5. TEZOS (XTZ)

Tezos is a project that emphasis on governance. While many blockchain networks, including Ethereum and Bitcoin, have some kind of governance, Tezos places a considerably greater emphasis on it. Tezos goal is to create an ever-lasting blockchain that can manage upgrades and development without the need for hard forks, similar to Ethereum and other rival blockchains.

Staking Return: 8% Annual Percentage Rate (APR)

6. LISK (LSK)

Lisk is a free and open-source blockchain platform that serves as a “gateway to the blockchain.” Lisk’s amazing feature is that it lets any investor, developer, or project designer to build their own side chains.

Staking Return: 6% Annual Percentage Rate (APR)

 

7. DECRED (DCR)

Decred was designed to solve the scalability issues that plagued Bitcoin. It is a public ledger that is highly secure and resistant to censorship. In 2016, DCR was established with an emphasis on consensus mechanisms and on-chain governance.

Staking Return: 8.5% Annual Percentage Rate (APR)

8. ICON (ICX)

Icon is a decentralized blockchain network from Korea that allows staking. It also uses the ‘Blockchain Transmission Protocol’ to make connections and transactions across multiple blockchains easier.

 

The primary goal of this platform was to allow the movement of digital assets even in the absence of a centralized organization.

Staking Return: 26.3% Annual Percentage Rate (APR)

9. SYNTHETIX (SNX)

Synthetix is a cryptocurrency that is used to create synthetic assets. These assets are also known as ‘Synths,’ and they represent physical assets such as fiat, cryptocurrency, and stocks.

 

Staking Return: 55% Annual Percentage Rate (APR)

 

10. LOOM NETWORK (LOOM)

 

Loom Network describes itself as a blockchain-based platform for large-scale social apps and online gaming. It’s like your favorite game or social media network but it’s on the blockchain and based on Ethereum.

Staking Return: 25% Annual Percentage Rate (APR)

About Post Author

David The Writer

A season blogger and writer who derives joy writing and promoting Contents that helps the financial world, making it easy and simple to get vital informations free. Well experienced researcher||writer
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