Maximize Your Returns on RISE and Other DPOS Coins

in #crypto5 years ago

I've been a fan of Delegated Proof of Stake coins since I first learned of them. Not wanting to try to learn how to mine Proof of Work cryptocurrency and spend money on sometimes expensive hardware and electricity, I naturally started looking into Proof of Stake coins. I ran a couple of POS wallets for a while but I just didn't like leaving my wallet open and unlocked on my computer. I'm kind of a paranoid person because I don't understand how the technology works, so I can't trust myself to protect my computer against dangers.

Once I found out about DPOS consensus, it made my life much easier. You log into your wallet, you cast a vote, you log out of your wallet. No other action is required other than occasionally checking to make sure everything is as it should be. Delegates do the work and, more often than not, they share their forging rewards with their voters.

But you can still do your homework while voting for a delegate. There are so many people that are getting much less in rewards than they could be. This goes for many DPOS coins, but I've long been a fan of RISE so that is my main focus with this post.

When choosing a delegate it seems a lot of people just vote for one of the top delegates. Being on the top of the delegates list doesn't necessarily mean that delegate is the best, it just means that they have the most votes. By voting for them you are cutting yourself short on potential rewards.

Here's a screenshot from I entered a wallet balance of 10,000 RISE to show how vast the difference between voting for the top-ranked public delegate is from voting for the lowest ranked public delegate.

First of all, and this is very important, if you aren't voting for a public delegate you may not receive any rewards at all. There are people that have large amounts of RISE that run their own delegate nodes, and there are even more people that run private nodes that only pay out if you pre-arrange it with the delegate.

I recommend everybody check and see if you can optimize your rewards by choosing a different delegate at least every couple of months. Looking at this screenshot, someone with 10,000 RISE that votes for the "official_pool" delegate will receive 28 RISE per month from forging rewards. The same person could be receiving 96 RISE per month by voting for "maxwell_pool". That's almost four times as much in shared forging rewards.

Unvoting only costs 1 RISE and finding the best public delegate could make a huge difference in the amount of RISE you collect on a daily basis.

If you hold a much larger balance in your wallet there are other options as well. You can try to find a private pool to join. You could run your own delegate node if you have enough. You could even split your balance into multiple accounts and vote for different delegates from each address.

As always, if your need help with anything or have any questions you can usually find help in the RISE Telegram Channel (