Are you looking for rewarding staking yields?
Then proof of stake (POS) coins and tokens is probably what you are looking for. Cryptocurrencies are decentralized since no financial institution controls them. That means there is no server to manage the network and process transactions. So how then do they verify transactions? One way they do this is through proof of stake (POS). It is the validation of crypto transactions through a consensus mechanism. You can read more about how staking works here or get started with staking today with Binance.
Through a consensus, people agree on a system used to verify transactions. The system used in the verification system is through using servers called nodes. Besides processing transactions, nodes add blocks of transactions to the blockchain when you stake your coin or token. Staking is a way of earning rewards on your crypto by locking it in the blockchain network.
80 Best Proof of Stake Coins and Tokens
This is the toplist with the best Proof of Stake coins and tokens for people in United States. There may still be restrictions what people in the your geographic region are allowed to do when it comes to crypto currencies. So make sure that you read up on the regulatory restrictions as well as the terms and conditions for each crypto exchange and consider what is allowed or not allowed. Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to loose.
Ether (ETH)
“The leader of DeFi coins, allowing anyone to deploy decrentalized apps.”
BNB Coin (BNB)
“BNB is the native coin of BSC and one of the five biggest cryptocurrencies in turn of daily turnover.”
USDC (USDC)
“A stablecoin based on USD, created by Circle and Coinbase.”
Cronos (CRO)
“Fortune favors the brave, says Cronos – the native token of the Crypto.com exchange.”
Avalanche (AVAX)
“Fast, Low Cost, & Eco-Friendly blockchain.”
Tether (USDT)
“Digital money for a digital age.”
Dogecoin (DOGE)
“Dogecoin is the people’s crypto.”
Chainlink (LINK)
“The top native coins for DeFi operating on the Oracle Networks.”
Arbitrum (ARB)
“Arbitrum’s native coin is finally here!”
Near Coin (NEAR)
“Simple, secure, and scalable technology from Near Protocol.”
Toncoin (TON)
“The utility token native to Telegram’s blockchain on the Ethereum network!”
MultiversX (EGLD)
“The Internet Scale Blockchain Is Live.”
Aptos (APT)
“The native coin of the Aptos blockchain aiming to deliver Web3 to the masses.”
The Graph (GRT)
“Enable a vibrant decentralized future with The Graph on the Ethereum and Solana networks!”
Bittensor (TAO)
“Pioneering the next generation of decentralized AI!”
Waves (WAVES)
“Waves coin enables a world of NFTs, DAOs, and other new business models.”
Sandbox (SAND)
“Play, Create, Own, and Govern a virtual Metaverse made by players.”
Tezos (XTZ)
“The native coin of Tezos, a powerful chain and the official digital collectables partner of Manchester United FC.”
Aave (AAVE)
“Earn interest, borrow assets, and build applications with Aave.”
Render Token (RENDER)
” Rendering the Metaverse – the 1st network transforming the power of GPU with their rendering solutions.”
Basic Attention Token (BAT)
“Basic Attention Token Aims to Make Crypto and DeFi accessible and useable for everyone.”
Gala Coin (GALA)
“Own your gameplay, with Gala Games token.”
Lido Dao (LDO)
“Lido Dao offers a liquid staking service for Ethereum, Solana and Polkadot to name a few.”
TrueUSD (TUSD)
“Exciting US dollar stablecoin to rival the rest of the pack!”
0x (ZRX)
“0x API is a professional grade liquidity aggregator enabling the future of DeFi applications.”
Artificial Superintelligence Alliance (FET)
“Interesting AI coin that’s rocketed upwards in market cap quickly…”
MAGIC (MAGIC)
ArbDoge AI (AIDOGE)
“The innovative AI meme generation token”
Injective (INJ)
“Injective native coin is here, also running on Ethereum and BNB”
1Inch (1INCH)
“1 Inch Network Offers a One-Stop Access to Decentralized Finance.”
Audius (AUDIO)
“Discover and stream up-and-coming artists at Audius.”
Curve Dao (CRV)
“Curve DAO (CRV) is an efficient ERC-20 stablecoin and the native coin of Gnosis Chain, the former xDai chain. “
Arweave (AR)
“Store data, permanently – with Arweave.”
ChainGPT (CGPT)
“Introducing a high-potential chat AI for the crypto space.”
Fasttoken (FTN)
Theta Network (THETA)
“Welcome to a world of decentralized video and streaming made possible with blockchain tech!”
MAGA (TRUMP)
“Make crypto great (and funny) again with the MAGA coin!”
X2Y2 (X2Y2)
“Earn staking rewards from a the new NFT marketplace token.”
Compound (COMP)
“A governance token for the Compound protocol.”
Ooki Protocol (OOKI)
“Powerful DeFi coin is right here!”
BitKong Coin (KONG)
“Discover the awesome BitKong casino’s own coin!”
Aurory (AURY)
“The only token native to the Aurory game”
Pound Token (GBPT)
“Backed by the Pound Sterling (£) and audited by KPMG”
Maker (MKR)
“Very interesting DAI stablecoin governance coin!”
Kava (KAVA)
“Help to lead the world to a decentralized Web3 future with Kava coin”
Battle Infinity (IBAT)
” The next big thing in the Metaverse gaming arena”
Serum (SRM)
“Enabling blazingly fast speeds and low costs in the decentralized finance space, powered by the Solana network.”
MoveZ (MOVEZ)
“Unlock special features while staying fit competitively!”
First Digital USD (FDUSD)
“Say goodbye to BUSD, Binance’s new USD stablecoin is here!”
ApeCoin (APE)
“ApeCoin is a cryptocurrency for the web3 economy.”
Frutti Dino (FDT)
“FDT is running on the Ethereum blockchain as a play to earn token for Frutti Dino. Staking in possible in Dinoverse.”
Binance USD (BUSD)
“The USD stablecoin from Binance.”
CorgiAI (CORGIAI)
“Connect ‘n’ chat about AI!”
Blockton (BTON)
“Delivering unparalleled speed, security, and reliability”
GetKicks (KICKS)
“GetKicks is another move to earn token that is like Stepn and Sweat Token, but runs on the BNB chain.”
LayerZero (ZRO)
“A powerful decentralization project across multiple networks!”
Lucky Roo (ROO)
“Lucky Roo is bringing unique gambling and betting opportunities with their new crypto casino.”
Cartesi (CTSI)
“Smarter smart contracts are made possible with the power of the Cartesi project”
Beep Boop (BOOP)
“Earn $BOOP in a multidrop ecosystem to access unique gameplay mechanics!”
Tribal Token (TRIBL)
“The new coin specifically made to support small and medium sized enterprises “
Arkham (ARKM)
“Leverage artificial intelligence to deanonymize the blockchain!”
Huobi Token (HT)
“Be part of the Huobi ecosystem with the powerful HT token and get lower trading fees as part of owning it.”
Synapse (SYN)
“Enable the transfer of aseets across different chains!”
teleBTC (TELEBTC)
“Empowering BTC on Polygon!”
hiSQUIGGLE (HISQUIGGLE)
“The upcoming NFT coin from FractonProtocol”
OKB (OKB)
“Discover more about the OKX exchange’s native utility token and get the latest updates.”
Decentraland (MANA)
“Create, explore and trade in the virtual world owned by its users.”
EthereumMax (EMAX)
“Leverage EMAX and get in on the hottest sporting events and VIP occasions”
Frax Share (FXS)
“Frax is the world’s first fractional-algorithmic stablecoin.”
Chat AI (AI)
“Bringing artifical intelligence to the everyday consumer market.”
WinGoal (MLS)
“Build the nr 1 football team in the world on WinGoal’s upcoming games.”
Ethernity Chain (ERN)
“The only way to be part of and participate in the Ethernity community!”
Lucky Block (LBLOCK)
“Lucky Block is a worldwide lottery with players using blockchain protocols.”
Uniswap (UNI)
“Swap, earn, and build on the leading decentralized crypto trading protocol.”
CoinsPaid (CPD)
“The utility token of the CoinsPaid payment processor!”
SushiSwap (SUSHI)
“Be a DeFi Chef with Sushi where you swap, earn, stack yield or borrow.”
DEDPRZ (USA)
“Check out the internal token of the amazing DedPrz casino!”
OpenLeverage (OLE)
“The coin that incentivizes trading, lending, and community participation!”
SafeBlast (BLAST)
FTX Token (FTT)
“FTX Token (FTT) is the backbone of the FTX ecosystem.”
POS Coins vs. POS Tokens
Now that you understand what proof of stake is, we need to distinguish between proof of stake coins and proof of stake tokens. A PoS coin is the native asset of a certain blockchain, while a token represent an alternative asset on the same network. For instance, Ethereum is the blockchain and the native coin is called Ether. So, Ether is a Proof of Stake token after the Ethereum merge, and some examples of Ethereum proof of stake tokens include Ox token, 1inch token, Compound token, EUROC token, Euro Tether token, FTT token, PAX Gold token and Tether (USDT) Token. Some tokens may also exist on multiple different blockchains and may therefore even have different consensus methods.
When you stake your coin, you will receive crypto as the reward to your wallet. The yearly APR varies between different PoS coins and tokens.
How Does Proof of Stake Work?
The point of staking your crypto is to earn rewards on it. To earn rewards, nodes analyze your cryptocurrency before they can reward it. The people who analyze your crypto before rewarding it are called validators. So think of nodes as a team of validators.
When you begin transacting, a validator is asked to review your crypto. Once validators are satisfied it is genuine; they include your transaction in the blockchain. It is through including your crypto information that they receive rewards. They give you a portion of it in your wallet when they receive rewards.
It is up to the validator not to be driven by greed or incompetence. For instance, if they try to pass off fake crypto as real, they may lose their position. To the traders, they are likely to lose their rewards when the validator does not reward them justly.
Which cryptocurrencies can I stake?
If you are looking to stake a coin, here is a top list of some stakeable coins and tokens:
+Cardano (ADA)
+Polygon
+Solana
+Ethereum
+Polkadot
+Binance Coin
+Terra (Luna)
+Algorand
+Hydra
+Cosmos.
A point to consider is that not all cryptocurrencies allow for staking. That is because they rely on another system of verifying transactions called proof of work. In a nutshell, the system rewards traders based on how fast they can solve a certain puzzle. So, you will have to work for your rewards. It is commonly the case with Bitcoin and Ethereum 1.0.
Difference Between Proof of stake and Proof of Work
Besides proof of stake, proof of work is another way to earn rewards. POS and POW are similar since they rely on consensus mechanisms to verify transactions. The differences between them is in how you get rewarded.
In POS, validators mine crypto on your behalf. They then share a percentage of their rewards with you. All you have to do is keep your crypto staked to enjoy rewards. As for POW, you mine for rewards in the blockchain. Typically, you will mine through solving a mathematical problem. You then compete with others. The quicker and more accurate you are, the more the rewards.
Most traders prefer POS to POW. Admittedly, some are terrible in mathematics. Others are simply lazy and prefer to wait for their crypto to earn rewards. Lastly, traders resent POW since you would have to invest in expensive hardware to begin mining for your rewards.
Benefits of the Proof of Stake System
+It offers faster transactions.
+It allows for greater scalability.
+With a consensus system, it eliminates centralization by dominant traders.
+Its environmental impact is smaller compared to the proof of work system.
+It offers a financial incentive to approve valid blocks.
+It offers security as users have a disincentive to validate improper transactions.
+It is an effective system for facilitating your transactions, making faster transactions.
+It keeps blockchains secure by rewarding or punishing validators when necessary.
+It does not require one to invest in hardware to earn rewards.
Disadvantages of the Proof of Stake System
-It is still new and hasn’t been tested at scale.
-It tends towards centralization.
-It may not be as secure as the proof of work system.
-Access is limited as individuals need to own cryptocurrencies first.
-Switching to proof of stake can be difficult.
-Some coins have a stipulated staking period before you can sell them.
-Users with a lot of coins can influence the consensus mechanism.
-Compared to mining, you cannot get as much rewards from it.
-Possibility of bribery attacks if the validator acts irrationally.
-It is yet to be thoroughly tested for scalability.
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