What are the best staking pools available right now and which of them are worth trusting with your hard-earned money?
Crypto staking has become a dominant trend in the cryptocurrency space as investors look for revenue-generating returns on their idle assets and PoS networks continue to experience steady growth.
Staking is appealing as both an investment opportunity and an exciting concept for blockchain governance and the industry is expected to more than double or triple its growth in 2020 and beyond –while also serving as a catalyst for institutional interest in cryptocurrency and a prominent driver of crypto mass adoption.
More so, staking pools have become really popular since the inception of the Proof of Stake coins which offers crypto investors the opportunity to earn passive residual income from their crypto holdings regardless of whether the market is going up or down.
Crypto staking is similar to interest yielding savings accounts in a traditional bank and staking pools play the role of the banks.
The pools take users’ funds and stake them for validating transactions and participating in the governance of a Proof of Stake blockchain network for the benefit of receiving what’s called staking rewards.
The earned rewards are then distributed among the members of the pool based on the percentage of their contribution to the total pool of coins.
Just as you’re careful in choosing a bank to lodge your money, one needs to exercise the same level of diligence in choosing a crypto staking pool to partner with, for safety and guaranteed passive and residual crypto income.
In this article, we aim to present to you our top 3 best staking pools yet. This list is by no means close to being exhaustive but it will serve as a good basis in your search for the best staking pools to invest with.
Top 5 Best Staking Pool to invest with
1. BEST STAKING POOL: Simple POS Pool (SPP).
Simple POS Pool staking pool was established in 2017 and gives you access to both PoS coins staking as well as masternode pool services.
SPP allows users to place their staking coins into designated pool wallets and receive their share of the Staking rewards.
More so, you can purchase portions of a Masternode (slots) and enjoy your share of the Masternode rewards.
The Pool makes money by charging a small fee of 3% on every staking reward you earn, for hosting and managing the Coin Pools and Masternode.
The downside of this staking pool is that coins sent to the pool’s wallet are no longer your coins as you don’t have the private keys to that wallet –remember, not your key, not your coins.
Therefore, you trust the pool to be of good behavior and send release your coins to you upon expiration or termination of the staking contract.
A total of 78 cryptocurrencies are supported on the SPP Simple MasterNode Pool and 62 different cryptocurrencies are available for staking in their MasterNode Pool –thus giving you a wide variety of coins to stake.
2. BEST STAKING POOL: StakingLab
Staking Lab offers one of the widest staking services in the industry among which are:
- Staking Pool
- Shared Masternodes
- Shared InstantNodes
- HostingNodes
“StakingLab’s main objective is to offer a comprehensive platform to investors and project owners for proof of stake coins, masternode coins, and other relevant services”. ~StakingLab.
For those who are interested in the more advanced staking services, StakingLabmay be worth more consideration.
Interestingly too, StakingLaballows you to stake in more than one master node –which is a highly uncommon feature in the crypto staking industry. Among the over 58 staking coins available on StakingLab are: Dash coin, Dogecash, Energi coin, ESBC coin, Jackpot coin, Safe insure and Spider VPS.
StakingLab is a Germany based staking pool that was established back in 2017 with a solid track record so far and with over 40,000 community members and 117 different staking coins available on the platform as the time of writing this article.
You can decide to reinvest your earnings and enjoy compounding interest which can help build up your wealth pretty much quickly.
More so, if you are allowed to pull out your coins from the pool at any time –much like a soft staking platform.
However, as expected, all these conveniences come with a cost. The pool charges you 3% deposit fee, a 0.2% withdrawal fee, and another 7.5% on all your staking reward earnings.
3. BEST STAKING POOL: StakeCube
Stakecube is yet another top crypto staking pool offering both the regular staking of PoS coins as well as –Shared MasterNodes and dedicated (monitoring) Masternodes depending on what the investor prefers.
The StakeCube Pool was originally launched in June 2018 as PoS Pool and has since then, grown to service over 30.000 users and supporting over 45 different cryptocurrencies with unique features.
It is important to note that the daily withdrawals limit on StakeCube is pegged $1,000 maximum and no deposit fees are charged when you send your coin for staking.
The Pool charges you 4% service fee on both staking and masternode reward earnings; 0.1% trading fee using their trading App.
More so, you can earn 25% of all fee revenues generated through the people you refer to the platform –another passive income opportunity for those that are able to drive traffic to the platform.
4. BEST STAKING POOL: BTCpop
BTCPop is simply more than just a staking pool. BTCpop offers a unique Peer-to-Peer Banking experience with Instant Loans, Investment Pools, Collateral Tied Loans, PoS Staking and much more.
The Company stores users funds in an in-house offline cold storage with only a small portion available via their hot wallets for daily settlements as is the case with top custodial exchanges and crypto Companies
Services Available on BTCpop:
1. LOANS: Reputation Based Lending
BTCpop’s peer to peer lending is based on reputation, and not a credit score.
You can quickly get loans from other members or make some money by loaning your coins to others –set the amount you wish to loan as well as the terms upon which you are lending your assets.
2. IPO: Fund Your Business
You can fund your next business on the BTCpop platform through community financing –much like crowdfunding, and for investors looking for viable startups to invest in BTCpop may be a good place to look as there are always brilliant startups launching seeking investment.
3. EXCHANGE: Move Your Money Into Another Currency
Convert any of your coins to the other using the BTCpopExchange –for Bitcoin, Litecoinand Dogecoin.
4. STAKING: Proof-of Stake
Stake several PoS coins at the same time, on the BTCpop staking pool for daily staking rewards.
There are over 170 different cryptocurrencies to stake on BTCpop and the exchanges charges 2% service fees on all staking reward earnings –thus making it one of the least expensive pools to partner with.
5. BEST STAKING POOL: Stack of Stake
Best Staking Pool – StackOfStake
With 52 different cryptocurrencies available for staking, 7, 149 active platform users and 914 Live Masternodes, State of Stake is another top staking pool that’s worth the hype.
To start earning starting from day one all you’re required to do are:
- Register or Login to your State of Stake Account on their website
- Select the masternode you want to join. Many more masternode coins are constantly being added, so you can check to see which one you’ll like to participate with.
- Deposit your coins into your staking wallet, starting with any amount you wish to begin with and the pool will take it up from there for you.
- Enjoy your staking rewards as it comes and remember me when you’re spending it –(smile).
Conclusion
There we have it –the top 5 best staking pools you can start investing with and enjoying the crypto wealth of your dreams.
The choice of which pool to join or whether you need to invest in crypto via a staking pool is all yours and should be based on your unique preferences, risk appetite and level of experience or knowledge of cryptocurrency investment generally.
Staking is a developing concept in cryptocurrency and with the increasing growth of Proof of Stake blockchains we sure haven’t seen enough innovation in this market yet.
What staking pool is your favorite and which are you currently investing or considering investing with? Share with us in the comment section below.
This article first appeared on cryptosorted.info: Best Crypto Staking Pools for Passive Income
