Proof of Stake involves the purchase of a specific cryptocurrencies and keeping them in a wallet. It akin to keeping your money as fixed deposit and earning a defined interest over a period of time. It refers to a consensus mechanism which is utilized to conduct verification on new crypto transactions. Under the proof of stake, the validators or the people in-charge for verifying transactions, will set aside and lock up a certain amount of crypto coins in a smart contract executed on a blockchain. As a result, they’ll be allowed to confirm crypto transactions and generate a reward. 

Why Proof-of-Stake Cryptocurrency? Proof of stake cryptocurrencies possesses multiple benefits. “Staking” aims to produce the same results mining will produce with none of the humongous energy that is dedicated to mining, i.e., just by holding on to this proof of stake coins you can turn a pretty decent return on investment. 

Besides, unlike mining which requires considerable upfront investment, the entry barrier for most staking is quite low. It also incentivizes the user to hold the coins instead of selling them which essentially promote the stability as well as the growth of the coin value. 

Now that we’re up to speed on what Proof of Stake cryptocurrencies are all about, this open list will aim to provide a comprehensive list of the most profitable / user friendly Proof of Stake cryptocurrencies obtainable. The Proof of Stake cryptocurrencies that make this list should be the best of the pack, the crème de la crème of all the Proof of Stake cryptocurrency.

We have provided a few examples as the starting point, but that doesn’t mean that they are the best of them all. For instance, Solana can also be considered one of the popular proof of stake crypto coins nowadays. This is especially true since Solana staking can help you earn rewards depending on how big your investment is. But, if you’re new to this proof of stake cryptocurrency, you can check out this guide to staking Solana and other resource websites online to obtain more information. 

However, it’s essential to know that we don’t have all the experience working with every possible Proof of Stake cryptocurrency out there, so hopefully we can use a little help from the community, leveraging on the community wisdom and experience to curate the most comprehensive list of the Best Proof of Stake cryptocurrency.

That’s all, let dive in!

Disclaimer: The purpose of this open list is not to pick the ” best ” cryptocurrency, most voted cryptocurrency doesn’t automatically mean that it is the best. The fundamental purpose of this list is to encourage community engagement and intellectual debate among the supporters of different cryptocurrency projects. We provide a third-party platform that hopefully makes people think. Too many times people are blinded by the community enthusiasm in official social media channels of individual projects and fail to see through the veil. By bringing supporters of different projects together, we hope to unravel the actual value and sentiment of each project via civilized debates. p.s. Nothing in this article should be treated as financial advice.

1Reddcoin

Reddcoin provides a decentralized tip platform that enables public to send and receive reddcoin on major social networks to anyone across the globe. It leverages on an innovative algorithm, Proof of Stake Velocity, which essentially encourage both coin ownership (Stake) as well as coin utilization (Velocity). There is also a no limits staking with this cryptocurrency. With an annual return of almost 5%, this is a good coin to invest in.

Cap for Staking : No

Ticker Symbol : RDD

Annual Return : Approx 5 %

Staking Wallet : Reddcoin Core wallet Download

Staking guide : Beginners guide to staking with Reddcoin

Staking Calculator: Reddcoin Stake Calculator 

Consensus Algorithm: Proof Of Stake Velocity

2LISK

Lisk utilizes a delegated Proof of Stake system. Its mode of operation works in a way that only the top 101 delegates get to do the staking. The delegated are decided by voting on a rolling basis decided by the community. You will be charged with 1 LSK for each vote session which allows you to vote up to 33 delegates. You can vote for 101 delegates max. 

3OKCASH

Two years ago, if you’re looking to find the most returns on investment via staking, OKCASH might extremely interesting to you. They started with a whopping annual return of 20%, little other proof of stake crypto coin comes close to this level of returns on investment. Not long ago in 2018, they halved their rewards from 10% to around 5% which is quite a good return when compared to its counterparts. All that needs to be done is to put your OKCASH into a staking wallet and watch your money grows.

  • Cap for Staking: No
  • Ticker Symbol: OK
  • Annual Return: 5.00 % ( Rewards recently halved )
  • Staking Wallet: OK wallet
  • Staking guide: OKCASH Staking
  • Staking Calculator: N/A
  • Consensus Algorithm: Proof Of Stake

4STRATIS

Stratis is a blockchain platform which primarily targets enterprise businesses and financial instituitions, enabling them to develop decentralized applications with ease on private and specific blockchains. The ticker symbol of Stratis is known as STRAT. An added advantage to this coin is that there are no limits in staking. With an annual return of 0.5-1%, it is pretty low but worth the hassle if the coin is possessed in large quantities

5NAVCOIN

Navcoin is one of the very first privacy-focused cryptocurrency that introduced Proof Of Stake as the consensus algorithm. It is based on the latest version of Bitcoin Core. You will have to keep your wallet open and unlocked in order to stake. The wallet can either be a NavPi or a core wallet. Like most of the POS coins mentioned in the list, staking gives an annual return of around 5%.

6PIVX

PIVX is short for Private Instant Verified Transaction.  PIVX is a proof of stake cryptocurrency that focuses on privacy and security. In the beginning of 2016 was when PIVX was forked out of DASH. A great advantage of it is its low entry barrier considering that there is no limit to the amount of this cryptocurrency which can be staked at any given time. However, you are required to keep your wallet active. Alternatively you can run a masternode if you have more than 10,000 PIV with you and you have the necessary knowledge to set up one. With an annual return of approximately 4.6%, it is definitely worth a try. 

7NEO

Operating with a delegated Byzantine Fault Tolerance (dBFT), which is a sort of a proof of stake, NEO is one of the really innovative cryptocurrencies to make this list. You also get an entirely different coin as rewards for staking. The cryptocurrency called NeoGAS is what is gotten as rewards for staking and it is worth knowing that based on market cap valuation, GAS is the 75th largest cryptocurrency at the time of writing. Also, with an annual return of almost 5.5%, it’s an investment worth the risk.

Conclusion

Now that you’re aware of the top proof of stake cryptocurrencies available in the market, it’s time to familiarize yourself with how they can benefit you as an investor. 

Generally, using proof of stake coins allows validators to stake a digital asset and receive a reward based on the size of your investment. It also enables validators to act as a bridge or node in order for transactions to be processed quickly, thereby improving the network speed. As a result, more validators will create blockchains which are responsible for processing many transactions at a lower cost. 

With these potential benefits in mind, many people have started to take an interest in investing proof of stake cryptocurrencies. Hence, to help you determine which options are right for you, keep the information mentioned above in mind and you’ll be in the right direction. 





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