Proof of stake is one of the best ways to get free money just by owning a coin.
I personally stake Tezos in the Trust wallet, but there are other coins you can stake to get a profit
Staking is simply the "donating" of your coins for the development of the blockchain. You "lock up" your tokens for a set period of time, and after that time is exhausted, you collect your coins.
You earn a fixed profit annually, and this annual profit is paid out daily.
These profits come from the fees gotten from transactions on the Blockchain. The fees are shared among users who staked their coins. It's a pretty straight forward way to earn some more crypto for free.
But what are the best cryptocurrencies to stake?
First off, I'd like to clear the air about the fact that I will not be listing USDT here. Yes you can stake USDT in the trust wallet, but I personally don't like USDT because of the controversy behind it and Bitfinex. Also, the interest margin is pretty low at 2%.
If it wasn't obvious already, I'm in love with Tezos. I live the tech behind the coin, as well as the coin itself. It has utility and has intrinsic value. These features make me really love this coin and the efforts put into its blockchain to make it this good.
Tezos currently pays an annual interest of 6% on the Trust wallet. This is amazing, and I personally have Tezos in my crypto retirement fund.
Known as Digital Cash, DASH is also a great cryptocurrency to stake. I personally don't stake, and I don't know why. It has great intrinsic value and the problem it tries to solve is a pretty common one that needs solving.
Dash can be staked in Trust wallet at a whopping 6.44% per annum. This is an enticing deal, and I will definitely look into DASH in the future.
Stellar is a wonderful investment in my unpopular opinion. It solves the problem of the unbanked better than most other alternatives, and it's REALLY cheap for all the stuff it does.
Stellar is built on the Stellar Consensus Protocol and can be staked on Binance. It will however pay out a pretty low 1% per annum, but if you can live with that, it's a pretty good deal in itself, even without the staking function.
4. Binance Coin
Binance coin was created by the popular exchange to act as the cryptocurrency of the exchange. It can be used to pay for fees, which brings the fee payment down by 25%.
If anything, I love Binance coin for itself, not even for the fact that it can be staked.
I hold a few and actually trade them once in a while to increase my number of tokens. At BNB trades very well. I deposited $10 worth of BNB sometime back, and I haven't deposited another set because I trade and stake it to get more for free.
BNB currently stakes for 3% on Binance. To me it's a great deal.
Those are my picks! I know you can stake NEO too, but I couldn't find an Annual interest rate for it.
If anyone knows it, please leave it down below.
Thanks for reading!