Best coins for staking currently
Best coins for staking currently

By fblauer | Defi_Opfi | 7 Jun 2019


Introduction

There have been a number of articles written about Proof of Stake consensus, and how to earn rewards by staking your coins, voting and delegating to validators. So I will refer to some of those guides below. A good meta site for listing and ranking of various POS coins is at stakingrewards.com. I don't know if I agree with all of their rankings, but its a good place to start when deciding which coins to stake

Validators

The validators perform an important function on the proof of stake networks. If you dont want to invest in a lot of equipment and resources to become a validator, you can still participate by delegating, voting and staking. Sometimes there are minimums, but not usually. There are a lot of good resource guides, and educational material on the validator sites. Some of them also have good dashboards to monitor the rewards, or mobile wallets to manage the staking and claiming process

Here are some of the validators that I have personally used, and found them to be reliable. 

Web based/desktop

  • Staked.us - good variety of coins​
  • Chorus.one - good blog, and article on Loom staking
  • Bitfish - reliable validator
  • Figment networks - good variety of coins
  • Cryptium labs - good info on their site
  • Stakewith.us - check their site

Mobile wallet based (they are also validators)

  • Cobo cloud wallet supports many coins including Loom, Atoms, IOST, and various others (see article that I wrote about cobo wallet on Publish0x)
  • Wetez - for Tezos, Cosmos, Iris

Best coins (my opinion)

Web based/desktop

  • Tezos - see guide on medium, or article here on Publish 0X
  • Loom - See guide here or medium article or validator site
  • Livepeer - See guide here or medium article or validator site
  • EOS - Use REX

Supported by mobile Wallet

  • Tezos - Wetex, Trust wallet (Binance)
  • Cosmos, IOST, Loom, Vechain, Ontology, IOTX, Decred, Dash - all can be handled with Cobo

Conclusion

It will be easier and more convenient if you manage the skaking, claiming, and re-staking process with a mobile wallet since there are usually less steps involved. But you will have to use Cobo/Wetez or Trust as the validator, so you won't have as much control. Don't just rely on the staking rewards yield %. There are other factors to consider like:

  • How reliable is the validator
  • Is it a good project that you believe in
  • Will it be around for the long term
  • Will it go up in value.

As usual, this is my opinion from my own evaluations and research, and is not investment advice. In future, we will probably be able to add etrherium to that list when they make the transition from proof of work to proof of stake. 


fblauer
fblauer

Self styled crypto enthusiast. Unbank yourself


Defi_Opfi
Defi_Opfi

This ia a blog about the intersection between crypto currency and finance. I have been testing and evaluating various defi (decentralised finance) and opfi (open finance) projects, and am really excited. Stay tuned for more..

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