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Which Cryptos Have The Best Staking Rewards?

Cryptocurrencies with the best staking rewards

September 19, 2021 | 

3294 Views | 

Jesus Guzman | 

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Crypto Staking is an activity where a user holds or locks their money in a crypto wallet to participate in maintaining the operation of a Proof of Stake (PoS) blockchain. Crypto Staking is a consensus model, just like crypto-mining, as it helps the network reach consensus while rewarding participating crypto-users.

Crypto mining requires a lot of resources and energy, which makes it difficult for some users to participate. But Proof of Stake blockchains gives users the ability to validate blockchain transactions by using their coins as stakes. This method allows users to earn passive income, and it is also a method of income generation that is sustainable in the cryptocurrency market. However, to get the most profit from the stake, you need to find the coins with the highest returns.

Here are some of the coins with the best stake rewards.

Tezos (XTZ) 5-6% return

Tezos was invented in 2018 and has taken the cryptocurrency market by storm as the largest Initial Coin Offering with over $230 million invested. It uses a PoS version known as Liquid Proof of Stake. Tezos' native currency is called XTZ, and the staking process is known as Baking.

Participants or bakers use the native coin of Tezos, and malicious users who engage in fraudulent activities are punished by confiscation of their stake. To participate in the Tezos blockchain, you must have 8000XTZ and be running a full node. You can also use third-party services that allow small coin holders to delegate their XTZ coins to Baker and share the rewards. Note that validators or Baker charge a commission. If you use XTZ, you can earn 5-6% per year.

VeChain (VET) 2.2% ROI

VeChain is an Etherium-inspired blockchain platform focused on enterprise and supply chain management. It offers good rewards for stakes. If you deposit a certain amount of VeChain into a wallet, you can use it to create a node. You do not need any hardware or computing power to run or bet on a VeChain node. All you need is your VET in a wallet.

These nodes come in two categories.

  • Authority nodes for validating all transactions on the blockchain - they have more requirements but also more rewards.

  • Economic Nodes provide stability in the ecosystem and are advantageous for a user compared to VeChain users without nodes.

With VeChain you can earn about 2.2% per year ROI, but it is prone to strong fluctuations.

Cosmos (ATOM) 8% return

Cosmos calls itself the new internet of blockchains, offering startups and developers the ability to easily create their own blockchain services. Cosmos aims to bridge the gap between blockchains so that they can communicate and co-exist more easily.

Validation nodes are already running at Cosmos Testnets. The annual ROI for setting ATOMs is 8% but varies widely. Delegation is not mandatory and delegates cannot spend their ATOMs.

Staked pays out 90% of rewards to delegates and offers the industry's only 100% SLA on block setting. Remember that Staked's ATOMs have a 21-day commitment period during which delegates' atoms cannot be spent, exchanged or transferred.

Algorand (ALGO) 8% Yield

Algorand aims to offer low-cost cross-border payments. As it uses the PoS model, users must commit to transaction processing and ensure network security. Algorand uses a pure proof-of-stake consensus model and requires users to commit to running full nodes.

If you use ALGO, you can make 5-10% profit per year. There are third-party providers that facilitate ALGO delegation. However, the rewards depend on the platform you use. For example, those who use Binance get an 8% annual return.

Icon (ICX) 6-36% return.

Icon is a Korean blockchain that allows for staking. However, it differs from the other coins mentioned above as it uses a delegated proof-of-stake mechanism. In this type of consensus algorithm, a certain number of users create new blocks and verify transactions, while the other users delegate their coins to them. The native staking coin for Icon is called ICX and can earn you an annual staking return of between 6-36%.

Neo (NEO) 1.5-2.50% ROI

Neo is the Chinese EEtherium and provides a platform for new dApps and services as well as a launchpad for new tokens. The Neo platform has two native tokens NEO and GAS, which serve different purposes.

NEO tokens represent ownership of the NEO blockchain and help users create new blocks and manage the network. Whenever you have NEO in your wallet, you are rewarded in the form of GAS tokens. GAS tokens give its users the right to use the NEO blockchain. Basically, GAS powers the transactions in NEO, just like Ether powers the Etherium network.

So you can buy NEO tokens to represent your stake in the future of the platform. While you hold your NEO, you automatically generate GAS when new blocks are added to the blockchain. With each blockchain that is generated, 8GAS are distributed across all 100 million NEOs that exist. The expected annual ROI for NEO is 1.5-2.50, which also fluctuates widely.

Lisk (LSK) 5-6% ROI.

Lisk is one of the blockchain platforms that provide access to the blockchain. Lisk is designed to make it easy for developers to create their own blockchains. Using LSK earns you rewards and also helps maintain the Lisk network. Lisk uses the Delegated Proof of Stake model, where you use your LSK offline by voting on the Lisk delegates you want. Then the delegates fake Lisk and when they earn rewards, they share them with their voters depending on the delegated coins.

CONCLUSION

Staking offers you the opportunity to monetise your idle capital and expand your income stream in cryptocurrencies. Binance and Coinbase are some of the exchanges that support cryptocurrency staking. But you need to identify the most profitable coins before betting on them.

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