Profitable With Proof-of-Stake Ways - With cryptocurrency, there are several ways to earn extra income:
Buy and hold cryptocurrency - due to price spikes, so you'll earn a cool income. The problem is, he can go the other way too, and you lose a lot of money.
Trading cryptocurrency - try to buy low and sell high. As simple as that sounds, you must have the right knowledge for this to venture into it.
Mining cryptocurrencies - this will cost you some money to buy the necessary hardware to generate a reasonable amount of money. While it is fun to do, choosing the wrong coins can be disastrous. The good part is that the mining device usually works for more than one crypytocurrency, so you can easily exchange.
Staking cryptocurrencies - with a process called Proof-of-Stake, you can make extra money while spending cryptocurrencies that worry about more profits.
We will look at the 4th option in this article to learn how to make some extra money from cryptocurrency proof-of-stake.
How Does Staking Coin Work?
Staking, also referred to as Proof-of-Stake involves purchasing certain coins and storing them in a designated wallet for a certain period of time without spending it. You can connect it with a fixed deposit in a commercial bank. When the set time expires, you can choose to spend the coins + flowers or re-invest to get more profit.
While all this sounds interesting, there are some counter and pro to you to think about.
Unlike mine cryptocurrency, by lurking, investors do not need to buy high-configuration devices to produce. The money will be used to buy coins for hodl, and the more coins you have, the more you earn.
One of the major disadvantages is when the coins are locked for investment, you can not use those funds until the investment period ends. Well, since your money is with you, you can decide to spend it, but that means you will lose the profit you can have if you have to hold your coins / tokens for that period.
Looking at the Best PoS Coins
So how do you know what cryptocurrency is good for POS? Well, this question, although very important does not have a clear answer. First of all, you need to identify the Proof-of-Stake coin, and secondly, you must choose a coin that has a good reputation. To do this, you need to commit yourself to doing hours of research so you will not end up with coins that will not be somewhere along the line.
Fortunately, you've landed in the right article. Here are the best options You can confidently invest some of your hard earned money and lurk for a long time.
3 Profitable Cryptocurrency By Proof-of-Stake
In no particular order, here are some good choices that we think have a good reputation in the market. Designing this coin will give you a starting percentage of 20%, 50%, and even 99% of your coin value at stake.
- NavCoin (NAV)
This is a decentralized cryptocurrency that uses peer-to-peer technology to operate, eliminating intermediaries that are central authorities or commercial banks that will manage transactions for a fee. With cryptocurrency NavCoin, no one owns or controls transactions, and anyone can be a part of it.
How to Staking NavCoin (NAV)
What you need first and foremost is the core version of the NavCoin cryptocurrency purse with the value of the coin you want to bet on it.
To get some tokens, you need to buy using fiat (EUR) or exchange cryptocurrency BTC, ETH, BNB, or USDT for that on crypto exchange.
When you send some coins to your wallet at first, your coin must go into an immature state that requires you to wait about 2 hours or for 240 blocks to be exact. Then stalking starts automatically without any extra effort.
At each Staking NavCoin, you earn 5% ie 0.05 NAVs per year. So to make something substantial, you need to invest something tangible. This is the NavCoin calculator to help guide you on how much you will generate from your budget.
To download NavCoin Core Wallet for your device, click here.
To get the most out, the device where you install the wallet must remain active and your wallet is active.
- NEO (NEO)
Neo Token is not just cryptocurrency; it is also a platform for running decentralized applications (dApps) as well as the Ethereum blockchain.
Neo, otherwise known as Ethereum China is a platform that uses blockchain technology to automate digital assets using smart contracts.
How To Steal Token NEO (NEO)
Staking your NEO coins gives you GAS, another token used to pay for services on the NEO blockchain. The GAS Token can also be traded for other crypto currencies on the exchange.
You can bet your NEO tokens in two ways, on the exchange, and in NEON's wallet.
If you choose to exchange, we recommend asking support from your exchange if you will get GAS for your NEO on the platform. The two favorite exchanges that are confirmed to give users their GAS rewards are Binance and KuCoin currency exchange.
Staking your NEON wallet, on the other hand, will require you to install a NEON wallet on your PC. You can click here to get download link.
You get 3.34% per year for the coins at stake. For every NEO you hold, you get 0.0980 GAS per year. You can use NEO calculator to know your return on investment.
With NEO, you do not need your wallet active to get your GAS rewards.
- Lisk (LSK)
Lisk is a platform similar to Ethereum and NEO. This platform provides JavaScript-based SDKs for developers who extend the functionality to build the desired application.
Lisk cryptocurrency (LSK) is the native currency for the Lisk platform. This token can be obtained from several cryptocurrency exchanges such as YoBit, CoinEgg, Bit-Z, Binance, HitBTC, Livecoin, and a host of others. Lisk can be traded for dollars, pounds, and euros. It can also be traded / exchanged for other crypto currencies.
How to Staking Tokk Tokens (LSK)
The first step to start earning passive with Lisk is to download the Core wallet for your LSK token. To do so, click here to download your Lisk Nano wallet app for your PC.
When you install and manage your wallet, send some Lisk you buy into it. It's important to keep your seeds in a safe place, so you do not lose your tokens.
You can choose up to 33 delegates at a time, and a maximum of 101 representatives. Click on "Voting Tab" and select your favorite delegate by selecting the check box in front of their name.
It will cost you 1 LSK to choose. The more delegates you choose, the more you generate. The Nano Wallet will require confirmation, click "Confirm" and that's it.
Because getting the LSK token must be done by voting for delegates, these delegates are the ones who set the percentage you get from your investment. Rates range from 6.25% - 100% depending on the delegate you choose. This is a good resource that lists the Lisk delegates and the percentage they pay. You can also use the calculator to find out the average results.
Once you've done that, you do not have to keep your wallet active because the delegate you selected has their node running for you. For more news about Lisk, you can check out Lisk Magazine.