Bitcoin is at the forefront of decentralization in regards to blockchain technology. The first-ever digital asset still owns a majority of the total market capitalization in the industry. However, earning bitcoin is a challenge for those that don’t have access to powerful mining rigs. This is due to the fact that bitcoin is a Proof of Work (PoW) digital coin.
Recently, we’ve seen the emergence of Proof of Stake (PoS) coins. These projects are now more common and are gaining popularity since they don’t require a lot of energy or hardware to verify a transaction.
Additionally, investing in a Proof of Stake coin could potentially result in significant profits, especially if you’re able to find a solid crypto staking pool to join.
What Is a Staking Pool?
No, not that kind of pool.
A staking pool is a way to focus on getting the most out of the staking process. Think of a mining pool, which many Proof of Work projects use, and apply the same logic to a Proof of Stake coin. The goal is to earn better gains for everyone involved.
How Do They Work?
Staking pools use the staking capacity of many users combined together. This creates a larger staking pool. Generally speaking, when a staking pool is bigger, it is more likely to be chosen to verify a specific block. This, in turn, earns everyone involved a larger return on their investment.
We’ve done our research and created a list of the top crypto staking pools on the market. We’ve rated each option on a scale of 1 to 3 according to year established, how easy they are to use, the fees they charge, and the number of coins they support.
|Items To Be Rated||Description||Year Established||Ease of Use||Platform Fees||Number of Supported Coins||Score|
|StakeCube||Stakecube is one of the most popular crypto staking pools out there. Users can find coins they want to stake in, or they can opt into Shared Masternodes if they prefer. Stakecube also supports monitoring Masternodes, plus has lotteries and airdrops available on the platform. There are games and bounties available for certain projects as well.||2018||Easy||2.5-3%||38||2.5|
|Simple POS Pool||Simple POS Pool is an old school staking pool that has been around for a few years. Users have access to both PoS coins as well as masternode pools if they're interested. On top of these options, uses can also participate in a referral program which gives them incentive to sign others users to the platform.||2017||Easy||3%||19||2.3|
|4Stake||The 4Stake mining pool is both a poof of stake platform and a Masternode. 4Stake also offers a program which gives users the ability to suggest new coins they want to see listed on the site. Plus, it offers a 3-tier program for referrals which are converted to the platform's native token and can be sold. ||2016||Easy||3%||26||2.5|
|BTCPop||BTCPop is a crypto staking pool that gives its users the ability to have a stake in several coins at the same time. However, this pool also allows users to lend altcoins to other people on the platform for interest. Additionally, every coin on BTCPop has its own platform, which means users can start earning and investing immediately. To top things off, users on the BTCPop site can exchange coins via the built-in exchange as well.||2019||Moderate||2%||30+||2|
|Staking Lab||For those more interested in the mastnode side of proof of stake pools, StakingLab is worth considering. However, the platform does also offer proof of stake coins. Users are eligibile for affiliate programs which provide solid rewards for those who get others to sign up. Plus, those who are active in the StakingLab community vote to have new coins added to the site.||2017||Moderate||5%||10||2|
|MyCointainer||MyContainer's staking pool service is perfect for those who want to find a simple and easy to use dashboard. It's intuitive and clean, which means new users don't have to know a lot about staking to get started. Users can purchase directly from the platform if they don't hold any PoS coins, or they can send them directly to their onsite wallet. Investors have plenty of information available to them on the MyContainer platform.||2018||Easy||N/A||16||2.5|
Should You Join a Staking Pool?
Of course, the answer entirely depends on your expectations and needs. If you’re already getting pretty good results from staking the coins you already have, then you may not need to consider joining a staking pool.
On the other hand, if you don’t have a lot of coins, you could stand to gain more profits if you participate in a staking pool.
To learn more about staking pools and how they work, as well as other bitcoin and altcoin related news and information, subscribe to the Bitcoin Market Journal newsletter. You’ll get the information you need to make knowledgable investing decisions.