Hello friends,
Today I am doing something a little out of my comfort zone but hopefully some will gain knowledge from this post. I have been in Crypto for a little while now, essentially as an investor; but when the green turned red I wanted to become less depended on using money to acquire new coins.
Naturally I turned to mining, however as we all know, mining is becoming less and less profitable. With the high initial startup cost and inflated prices of GPU's that was out of the picture for me. Then I heard about Proof of Stake (PoS) a way to passively stake and acquire coin simply by holding the coins and running the wallet. With a simple investment in a coin you get access to the ability to earn more.
PoS coins seem pretty cool, but right now it’s like the wild west out there. PoS coins are notoriously known for their sketchy nature. Some coins promise insane ROI's and as an investor it’s your job to weed them good ones out from the bad ones. I'm not claiming to be a good investor (lol) and this is not financial advice, but here are some of the PoS coins I like. Tier 1 coins like Pivx and Neblio are well developed projects that to me seem trustworthy. Unfortunately for us that means the initial investment will have to be a lot bigger to reap the benefits of staking coins, therefore less growth potential.
Now on to the Tier 2 coins and real underdogs. These coins are risky to say the least. Majority of them probably will fail, but PoS coins are a gamble especially when they are in their infancy. But getting into a coin early is where the real profit lies. Two coins that interest me are Shard and Lux. Lux offers a hybrid PoW and PoS coin that allows for private transactions. The coin took a hard hit in the bear economy and I hope to see good growth when a bull run hits the economy.
For me Shard seems to have developed a sustainable way of PoS still with a great ROI. By using their shard investment fund, the team will be able to take their earnings and buy back shard to control inflation. The bought back shard is then burned. I got in this coin recently and there is still an opportunity to get in while it’s in Pre-Sale. I see big things for this coin but at the end of the day who really knows. Don't invest more than you can lose.
For those who can't invest larger amount for staking, consider using StakeUnited which pools coins together just like a Mining pool. Staking in pools give more consistent payouts allowing for better compounding interest. Peace and happy investing.
Shard Website:
https://shardcoin.io/Shard Pre-Sale:
https://shardcoin.io/account/register.php?r=Nick Lux Website:
https://luxcore.io/StakeUnited Pool:
https://stakeunited.com/nickman123
