Today we are going to talk about several Proof of Stake (PoS) coins that may be worth investing into.
As the DeFi craze led to considerable Ethereum fees, numerous investors are looking into PoS instead.
With wider crypto adoption, investors are searching for new income sources to make their cyber-money work for them.
However, in today’s world, that is easier said than done.
Proof of Stake (PoS) is a decentralized (and trustless) mechanism that helps investors safely earn passive incomes via crypto.
PoS doesn’t rely on any centralized exchange, as the blockchain itself is the ledger, and participants earn income according to the quantity they staked.
Let’s see our top picks!
Tezos is an impressive project developed via the OCaml programming language.
OCaml is a programming language that is widely used in aerospace and high-end engineering applications, particularly in France, its birthplace.
OCaml is tied to formal software verification methods.
The Cox proof assistant, particularly, can generate OCaml source code for formally verified constructs.
Tezos has yearly returns somewhere among the 5.x% region. It is safe, very well developed and is backed up by a fantastic community.
PeerCoin isn’t particularly popular, as it is ranked 145 at CoinMarketCap.
The main reason for that is the 1% yield it has. However, there is a catch – the 1% yield is hardcoded into the coin algorithm, so it’s not the result of a network difficulty.
NEO doesn’t yield coins directly. Instead, the rewards are returned in the form of GAS.
At the moment, NEO yields 0.3% monthly and 3.35% yearly.
NEO is a top 20 crypto and has convenient liquidity and a consistent user base, mainly in Asia and particularly in Asia.
VeChain has a yearly return of 2.45%, which is excellent for numerous application, but not as a PoS passive income investment.
High liquidity and numerous exciting projects based on the VET ecosystem are not necessarily the best passive income asset.
Qtum has a 5.23% yearly return. Though that’s not top performance, it is very popular and easy to trade, making it a widely spread asset among PoS users.
Cardano is a 3rd-gen crypto that is popular among numerous users. It became fully decentralized in Q3 2020.
Currently, it has a yearly yield of approximately 2.80% a year.
Keep in mind that crypto trading is highly volatile, and, generally speaking, it’s not wise to invest all of your life’s changes into something that you are not too sure about.
We strongly suggest that, instead of buying a single coin in high quantities, you invest in multiple coins (at least two or three).