E Beginner’s Guide To Cryptocurrency Staking

Choosing a Staking pool to collectively stake and get rewarded is considered a reliable way to make regular reliable profits. Staking pools can help you generate income without doing much work individually as all responsibilities can either be distributed or delegated. Here’s a list of some of the Best Staking Pools in the market.

Masternode Platforms

Another addition to Proof of Stake is the introduction of Masternodes. Masternodes act as a different type of user in PoS networks. They are often lumped together with regular staking users, but their roles are very different. A Masternode has added responsibilities when compared with a regular Staker. Projects that support Masternode staking such as DIVI, PIVX, etc., place extra responsibilities on their masternodes. They are assigned tasks such as voting, delegation, decision making and so on. It is obvious that with the increased responsibilities, Masternodes are generally paid more than regular stakers.

Cold Staking

Cold staking means that you can start staking cryptocurrencies but hold them on a secure wallet that is not connected to the internet at all times, i.e., a hardware wallet. Cold Staking is much easier and more secure than regular staking. Networks that support cold staking allow users to stake while securely holding their funds offline. However, if the stakeholder moves the coins out of the cold storage, the stakeholder will stop receiving rewards. This method is particularly useful in allowing large stakeholders in the network to ensure maximum protection of their funds while still supporting the network.

As of January 2020, there are only a handful of projects that support cold-staking. Some of them are         

  • DIVI
  • Stratis
  • Nav Coin
  • COLX

Resources for Staking

Following are some of the resources that an Investor might use to settle on a Staking platform and start generating returns

View single page >> |

All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.