Proof of Stake, The Best Way to Earn Crypto Currencies
Proof of Stake the best way to Earn Crypto

Proof of Stake, The Best Way to Earn Crypto Currencies

By CryptoPk | Blockchaintech | 23 Mar 2020


The question arises in your mind why proof of stake? and what are the benefits of it to earn cryptocurrencies. Well, the answer is Proof of Stake aka PoS is the easiest way so far to earn cryptocurrency without any hashing power. When you are earning through proof of stake, you are also holding your crypto asset for the long term profit in a bullish market. So, choose your coin for PoS wisely. 

Developers at Ethereum 2.0 are also working to improve and upgrade the algorithm behind Delegated Proof of Stake DPoS and will be functional as expected in somewhere July 2020. Proof of stake enables the holders of cryptocurrency to earn a reward or share annually at a certain percentage by staking their coins on the master node or wallets on different exchanges. 

To simply elaboration of the PoS you can earn different stackable cryptocurrencies by holding on exchanges or master nodes.

Binance which is the world biggest and renowned cryptocurrency exchange has enabled PoS features to earn a reward by staking many different coins as shown in the image below:

The simplest way to stake crypto currencies

The most profitable coin on Binance for staking is ALGO (Algorand) with 12 to 14% of Anual Reward. You can also calculate the monthly reward of around 1 to 1.2% and you can compound them too. Like if you are staking 1000 ALGO on Binance then you will earn 100 ALGO coins a month and 1400 Coins a Year. 

Make a new Binance account at this link: Click Here

I am currently staking TRON at Binance and NRG on Kucoin. kucoin also has a feature of staking reward from the staking pool. Many other coins like NEO also produce rewards in GAS tokens which can be tradable at any time. The minimum coins are also to behold on exchanges or in a separate wallet with full master nodes and footprint of complete blockchain. 

Ethereum 2.0 is promising more about the staking reward and the minimum amount of coins for staking is about 32 ETH as discussed on many forums. 

As the price of the cryptocurrencies are variant and doesn't hold a certain value due to its high volatility in the market, you should do comprehensive research on the certain coin before investing to earn through proof of staking reward. like if you bought certain 1000 coins worth 1000$ and price fluctuates and forms a bearish pattern after a month resulting in 0.8$ a coin instead of 1$ then the earning of 1100 coins will result in the only outcome of 880$ instead of 1000$ invested initially. So you have to be wise and equipped with knowledge of the market enough before investing in Proof of Stake algorithm on exchanges. However, if you are going long and holding an asset, Proof of Stake is recommended.

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CryptoPk
CryptoPk

Crypto enthusiast and trader


Blockchaintech
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