Proof of stake (POS) cryptos have many technical benefits but apart from that some proof of stake cryptos also give different economic benefits/dividends to their holders by giving them the option of running a master node or staking their coins in a stake-able wallet.
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Moving on, here are the most profitable proof of stake cryptocurrencies you could invest in.
10 of The Most Profitable Proof of Stake Coins You Could Invest In
Ethereum is currently a Proof of Work (PoW) network, and to solve its scalability issues, it is scheduled for its next big update, i.e., Ethereum 2.0, which would convert it into a Proof of Stake network. This would optimally scale and secure the network and allow building more innovative Decentralized Applications. Although the final merge of Ethereum 2.0 is yet to happen, the Beacon Chain of Ethereum 2.0 was launched in December 2020, and ETH holders can stake their tokens on the network.
The easier way is to stake your ETH with staking service providers who have their node operators and take a portion of your staking rewards as a fee. Some service providers also allow you flexible staking, which means that you can unstack your funds anytime.
Hence, there are predominantly three ways to Stake your ETH
- Become a node operator on the network
- Use a centralized Ethereum staking service providers such as Coinbase, Kraken, and Binance
- Use a decentralized staking service provider such as Lido Finance
BNB (Up to 30%)
BNB is the native coin of popular exchange Binance. There are multiple ways by which you can stake BNB coins and earn up to 30% or more by staking alone. The most popular way is by using BNB Vault which is available inside Binance exchange. Another way to stake BNB is by using the Trust wallet, which is a popular mobile wallet.
Flow is an independent Layer 1 blockchain for games and NFT.
You can get Flow tokens on:
Akash Network (AKT token)
Akash Network is a proof-of-stake chain, built on Cosmos Hub, that leverages Akash Token (AKT), a native utility token, to govern, secure the blockchain, and provide a store and exchange of value. You can stake Akash (AKT) token to earn up to 58% APR. Unlike other proof of stake tokens, this offers one of the highest staking rewards.
You can use the Keplr wallet to stake your AKT token. You can get AKT token from:
- AscendEX (Bitmax)
Raydium is an automated market maker on Solana platforms, which boasts high TPS and fast settlement. You can participate in Ray staking on the Raydium platform to earn close to 50% APR. You need a Solana wallet like Phantom to access the Raydium platform. The best part, you can also use the Phantom wallet with your Ledger wallet for enhanced security.
Ray Token can be purchased on the following high-quality exchanges:
- FTX Exchange
- MXC Exchange
However, I recommend you to buy Ray token on FTX, as it offers a Solana blockchain withdrawal address.
Tezos is a multi-purpose blockchain with on-chain governance. By Staking Tezos (XTZ), you will be able to earn passive income. Tezos is also the first proof of stake cryptocurrency that is supported by all major exchanges for staking. The easiest way for staking Tezos is by using Binance. They are the only one that offers zero-fee staking and all you need to do is, just hold the coin in your Binance wallet. It is perfect for traders and investors.
- Annual Return – Approx 6.8%
- Staking Wallet – Binance or Atomic Wallet
You can get Tezos (XTZ) from Binance (Global) or CoinBase (USA).
Decentral Games ($DG)
$DG is an ERC20 governance token awarded to community members who provide value to the decentral games ecosystem, such as playing games, providing liquidity, participating in governance, and referring new players. There will never be more than 1 million US$DG.
NOW token is a native cryptocurrency of an instant crypto exchange known as ChangeNOW. It was issued in 2018 and serves as an internal currency on NOW products. The token was issued as an ERC20 token, but now it also exists on Binance Chain (BEP2 Standard). In 2020 it has introduced NOW Staking as a way of profit from holding NOW tokens. NOW Staking offers up to 25% in yearly interest, making it one of the tokens with the highest expected return. There is a progressive reward scale in place, meaning that it gradually increases with time. If you hold a NOW token for a week – you’ll get a 5% reward after a month it increases to 10% and reaches 25% in a year. ChangeNOW has an informative reward calculator to approximate your profits during a staking period.
DASH is a popular cryptocurrency known as digital cash. It is one of the pioneer’s cryptos to implement a proof of stake consensus mechanism. Dash is a unique cryptocurrency built upon Bitcoin’s core with additional privacy and quick transaction features such as PrivateSend and InstantSend. It advocates itself as peer-to-peer decentralized electronic cash and intends to be as liquid as real cash which we use in our respective countries like USD/GBP/EUR/INR or CNY. DASH also allows its holders to earn dividends in the form of DASH by running a master node. But the catch is that you need a minimum of 1000 DASH units to run a master node.
NEO, formerly known as Antshares, is the first Chinese open-source blockchain project, tagging itself as a “distributed network for the smart economy”. NEO is also a cryptocurrency that exists on NEO’s blockchain. Apart from the NEO cryptocurrency, NEO has one more crypto-token called GAS (formerly known as ANC or Antcoins) which can be staked in a NEO wallet for a handsome return and doesn’t require you to keep your staking wallets open all the time like in other POS cryptos.