Those of you who were there during the rise of Bitcoin and mined it along with Ethereum early on, can easily name the downsides of proof-of-work mining. No doubt, a sizable mining farm brings substantial profits, but the noise, the heat, and the electricity expenditures might have left you wishing for a cleaner alternative.
PoW mining is definitely not beginner-friendly. This is why newcomers look into best crypto staking possibilities rather than into highly competitive, energy-hungry, expensive, and uncomfortable PoW mining. This is where the overview of best staking coins would be most helpful.
Take a closer look at the advantages of staking or skip down for a staking coins list right away!
Best staking crypto
Mining crypto through staking or delegation is generally better than PoW mining. Is it true? Let’s try and prove it.
Truly passive income
Proof-of-work mining requires your hardware to be up all the time. In the case of Bitcoin, your equipment is not even involved in any meaningful activity most of the time: it brute-forces SHA-256 cryptographic problems.
In other networks, the hardware could run dApp, match DEX trading orders, or store media… but the thing is, none of your devices has to be online if you delegate your stake to another node. You can make a one-time investment and literally forget about it for a time – unless the node goes offline, you will keep earning.
No strings attached
One of the minor problems with ASIC mining is that a miner cannot immediately switch to another blockchain with an incompatible mining algorithm. The same is true about any coin that uses a particular piece of computer hardware—storage, RAM, CPU, or GPU—they all need completely different rig setups.
What would you do to switch one PoS coin for another? Unstake and sell the initial share of coins, buy another asset, and stake it, period. The only inconvenience one may run into is the delay before the staked assets are fully unlocked.
You know that plastic production is one of the causes of the global pollution crisis, right? Choose PoS over PoW to leave less electronic garbage for your children to sort out. It is unlikely that ASICs are properly recycled once broken; still, their market is predicted to grow in the coming years.
Bitcoin maximalists turn a blind eye to the problem of high energy consumption and the resulting dioxide emissions. They even view Bitcoin as the solution to the problem of energy overproduction by certain power plant types.
On the contrary, as you search for the best staking crypto assets, you support a sustainable future.
Low entry barrier
The starting value of coins that one must delegate to start staking is ridiculously low compared to the price of a competitive PoW mining rig. A powerful GPU or an ASIC would cost thousands of dollars while, for example, Solana minimum stake is 0.01 SOL, which is about two dollars at the time of writing. You don’t need any computing equipment to start earning.
The good news for Trustee Wallet owners is that they can easily turn staking on and off in their app for a number of coins. We already support Solana, VeChain, and Tron staking.
Staking coins list
Considering project development perspectives and annual yields as well, the following coins are fairly profitable when it comes to staking:
Ethereum (ETH). Although the London hard fork seemingly leaves miners at a disadvantage, most of the leading pools chose to support it and keep mining. It is still profitable and Ethereum is still the second largest cryptocurrency in the world.
Mind that to run your own node, you need to lock 32 ETH, which is a pretty penny for an average crypto enthusiast.
Tezos (XTZ) used to compare itself with Ethereum in its early days, and it had the proper reasons: smart contracts, low fees, speed, scalability…
This blockchain implements a peculiar governance model that makes it different. Users decide where the development will go, as opposed to the decisions of core developers.
Algorand (ALGO) relies on what they call a pure proof-of-stake. As a fairly young technology (founded in 2017), it is still being actively developed, gaining renown around the world at the same time.
The network infrastructure facilitates transparency and trust. Algorand consensus protocol enables transaction finality in seconds without sacrificing security
VeChain (VET) and Neo (NEO) are both Chinese developments launched in 2014-2015 and similar to Ethereum. VeChain focuses on enterprise solutions, while Neo facilitates mass adoption as a dApp platform and token launchpad.
Cosmos (ATOM) automates blockchain creation workflow, so to say. If you dream about creating your own “coin”, you have plenty of choices on the market: any blockchain that supports token issuance is at your disposal.
Cosmos took this idea a step further, so we are close to a boom of interoperable blockchains, similar to the crypto boom of 2017.
A handful of promising indicators that a given network is useful are the number (and quality) of dApps, speed, fees, partnerships, and general community adoption.
That said, NEAR Protocol (NEAR) must be mentioned among the best staking coins.
We have mentioned only a few examples, so this staking coins list is far from complete. Check the market news daily to determine the best staking crypto. The market is volatile, and the decisions of large institutional holders, celebrities, governments, and regulators can swing it in any direction, any moment. It goes without saying that developers and communities influence coin prices as well.
Top staking coins
If you are a fan of staking coins lists, have a look at Coinmarketcap and select the best staking coins by their total market cap and price dynamics. For example, the price of Cardano has been stubbornly rising since 2017, taking it to the Top 5 cryptocurrencies of all time. It is a sign that the project is developing and building partnerships, drawing more investments. Therefore, it could be a good long-term choice.
On the other hand, Internet Computer Protocol (ICP) has troubles with the price stability, which could mean that the project is stuck.
Take good care of both your crypto and fiat, and see you around!