Learn how to gain intereset on your cryptocurrency by using certain services and wallets to help validate transactions. It's a pretty cool aspect of blockchain, crypto, and Proof of Stake algorithms.
2. Proof of Stake and Staking Explained
The term staking comes from Proof of Stake
(PoS), a way some cryptos validate transactions
and create new blocks. A random validator is
chosen, but can be influenced by amount and
age of staked coins. The chosen validator
collects the transaction fees. Staking sites
(exchanges, apps, etc.) compile people’s crypto
and distributes the rewards.
CryptoJBro.com/staking
3. Staking Definitions
⬥ Proof of stake (PoS): A validation algorithm
based on the amount of coins held.
⬥ Soft staking: Locking up coins with a third
party which will do the techy PoS for you.
⬥ Masternode: a governing node for a
blockchain that hosts a full copy of the ledger
and requires more coins and hardware (VPS).
CryptoJBro.com/staking
4. Staking Definitions (Continued)
⬥ Staking pool: group of coin holders that put
their coins together to increase their chances of
being chosen to mine a block.
⬥ Exchange staking: earning interest on
stakable coins in your exchange for a fee. The
exchange does the technical staking.
CryptoJBro.com/staking
5. Benefits of PoS over Proof of Work (PoW)
⬥ In most cases, PoS is validated more
quickly.
⬥ PoS validation requires less energy since
there are no competing miners doing
unnecessary work solving problems.
⬥ The algorithm chooses the validator.
⬥ Coin holders can stake and earn interest.
6. PoS Hackers and Bad Actors
⬥ If a validator stakes coins and then tries to
attack the network, they will lose their coins.
⬥ A bad actor would need to hold 51% of the
total crypto coins. The market would react
and the price would drop.
⬥ Therefore, the incentive to attack a PoS
network is not there.
7. How we Earn Staking Coins
We lock up PoS
coins in a wallet
which uses our
coins for Proof of
Stake. This is similar
to earning interest
on those coins.
Some sites are
made for staking.
A few exchanges
and apps offer
this service too.
Being part of a
large pool of
validators gives us
a higher chance of
sharing in the fees.
7Read my full staking guide at CryptoJBro.com/staking
8. Top Crypto Coins for Staking
● Dash (DASH)
● Tron (TRX)
● NEO (NEO)
● VeChain (VET)
● Ontology
(ONT)
● Decred (DCR)
● Energi (NRG) 8
Just a list to start your research, not advice...
● Tezos (XTZ)
● Synthetic (SNX)
● Algorand (ALGO)
● Loom Network (LOOM)
● Cosmos (ATOM)
● Icon (ICX)
● IOStoken (IOST)
CryptoJBro.com/staking
10. Researching Staking Platforms
⬥ What are their historic returns?
⬥ What coins do they offer?
⬥ How long do you have to lock up coins?
⬥ Who is behind the company? Check their
LinkedIn profiles.
⬥ What are their reviews and complaints?
⬥ Can you transfer into other PoS coins?
CryptoJBro.com/staking
12. Crypto Staking Summary
⬥ We earn interest on certain PoS coins by
keeping them in staking wallets.
⬥ Be sure to do your research on the platforms.
⬥ If this video helped you, please like, subscribe,
and share it on social media.
⬥ Visit CryptoJBro.com for my newsletter and
free E-book on making crypto money!
CryptoJBro.com/staking