A recent phenomenon in the Crypto world is the introduction of high staking digital currencies. These Proof of Stake (PoS) coins have spawned large Staking Pools where people can send in their coins to be staked for them. There are pros and cons to doing this.
I personally am very cautious about sending my coins off where I am not in control of them, and prefer to do my own coin staking on my own computer. Running a Proof of Stake wallet requires very little system overhead and can be done on almost any computer. However, there are various reasons this may not work out for you, and it is good to know your options.
Pros for using a PoS Pool…
- You don’t need to install the wallet and get the staking working
- You don’t need to keep up with wallet updates
- You don’t need to leave your computer running, hence no electricity costs
- Any advanced Coin Control decisions are taken care of by the pool
Cons to joining a Staking Pool are…
- You send off your coins to the pool for staking, so you do not control them
- There is a 3% fee for any staking rewards earned
- You are contributing to the Centralization of the currency you are staking
I personally have chosen to use a staking pool for my Interstellar Holdings (HOLD) coins. I just could not get the wallet to stake correctly for me, and by the time I gave up, the price was below what I had paid. Rather than have the coins sit on an exchange doing nothing, I decided to try out a PoS pool instead. HOLD is supposed to be returning 500% & 800% rewards over the next few months. I don’t want to miss out on those returns.
There are a few Staking pools to choose from, but I would recommend doing some research before joining to see how people feel about each. For example, I hear very little positive feedback about POSW (https://poswallet.com). They have been around the longest, but at one point people staking coins with them were completely disgusted with the decisions being made and lack of customer service. For this reason, I would not recommend them, but I wanted you to know they are available and you should include them in your research. They made a poor first impression with me, but perhaps people have changed their minds now.
A few other newer Staking pools are available. They are similar in structure. All charge a fee on rewards received, offer many of the same coins to stake, and the interfaces for all are very similar.
The first is Stake United (StakeUnited.com). They have a low 3% fee, I like the 2FA security feature, and while their currency selection is still limited, they have all of the coins I am interested in staking available. Their how-to section was easy to understand, and the account confirmation showed up quickly. I received more HOLD coins in the first 24 hours there than I had in the previous stressful two weeks of trying to get the wallet to work correctly.
Another PoS Pool option is Staking Lab (StakingLab.io). They also have an automated system and 2FA security option. The fee is a little higher (5% I believe). They offer a few coins of the very latest coins which are unique to their pool and have some Masternode services available as well.
Another newcomer you may want to look at is Simple POS (SimplePOS.com). It is a more manual pool where there is a wait for things, such as withdrawals, to be processed. I have not heard anything negative about anyone’s experience there, but again, take a look to see if they offer the services and staking currencies you are searching for.
The coins available to stake at these pools are offering some truly staggering staking returns. They include…
- OPC (OP Coin) – currently at 1200% and increasing to 1500%
- DVRS (Diverse) – returns 3000% to 7000%
- DV7 – currently at 10000%
- AERM (Aerium) – up to 100%
- MONK (Monkey Project) – Variable staking up to 1850% ROI
- MUT (Mutual Coin) – 5000% base return
- XGOX (GO Coin) – 1000% to 2000% staking rewards
These are just some of the coins available for staking, and you can see the returns are ridiculous. Also available are coins such as EMBER, LAMBO, BUZZ and B3.
Thanks for taking a look. I have some more information available on high staking return coins for you. Also check out…