You have been exploring a lot about cryptocurrencies ever since it has become a global phenomenon after the success of Bitcoin. But have you ever come across a question about cryptocurrencies proof of stake? If not, then better know it today. Proof of stake or POS cryptocurrency is comprised of several technical advantages. But besides this, you will also find that HODLers are also being benefitted with dividends or economic benefits by staking their coins in a stake-able wallet or through a masternode by some POS cryptocurrencies.
In short, we can say that earning is possible by merely holding Proof of stake cryptocurrencies. And this serves the two-way advantages, one is allowing users to get dividends or incentives on their holdings. And other is the securing of the blockchain network. If there are any POS cryptocurrencies held by you, then you should be knowing about buying dividends and staking them in the authentic wallets. And if not, then better start thinking about it, as POS cryptocurrencies can fetch you with a smart income source.
Binance, the world-famous cryptocurrency exchange is an example of adding the feature of staking. This is the better way of finding the profit-making Proof of stake crypto coins. If you don’t know how to access it, then let us help you with knowing it. First, you need to create your Binance account, and then you have to click on the option of Earn>Stake.
Other than Binance, there is another prominent cryptocurrency exchange, Bitfinex, that too provides POS features. With the evolvement of this technology, it has paved the simple and speedier way to stake coin and getting profit. Below are some of the proof of stake cryptocurrencies, which every beginner must know.
OKCash
Starting with OkCash, a proof of stake cryptocurrency. It made its debut around six years back. This POS cryptocurrency is efficient in being faster and can be best utilized for microtransactions. Its users are offered with highest returns when it comes to staking rewards.
Tezos
Tezos is the most profitable proof of stake cryptocurrency. You can benefit from earning passive income by staking Tezos. It is known to be the first POS cryptocurrency for staking and is underpinned by major cryptocurrency exchanges. Among these cryptocurrency exchanges, the Binance exchange is the best and simplest option for staking Tezos. It is because this crypto exchange will offer you zero fees. All it requires is holding the coin in the Binance wallet.
Reddcoin
In the list of proof of stake cryptocurrencies, Reddcoin stands as tipping cryptocurrency. The
use of this POS cryptocurrency can be preferred for tipping anyone regarding any content which is liked on social media platforms. Reddcoin is the best POS currency that can benefit its holders with impressive returns.
DASH
Built on Bitcoin’s core, DASH is famously known as digital cash that came up with additional privacy. It is featured with a speedy transaction like InstantSend and PrivateSend. DASH is one of the pioneered cryptocurrency to execute a POS consensus procedure.
Conclusion
If you choose to stake on Proof of staking cryptocurrencies, then it will result in earning passive income. The entry barrier is much low for beginning in many currencies. Even if you go by zero interest rates in a country like the US, the staking of cryptocurrency will render you more profit. Apart from the POS currencies mentioned in the list, there are other currencies including PAY and NXT that too facilitate in staking rewards. However, these rewards are very much lower, which is why they don’t make a suitable choice to be listed in the category of top proof of stake cryptocurrencies.