10 Best Proof of Stake Crypto to Invest in 2024
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Proof of Stake (PoS) is a blockchain-based consensus that allows cryptocurrencies to verify transactions. A more sustainable and energy-efficient alternative to the Proof of Work (PoW) consensus, Proof of stake blockchains have become increasingly popular in the last few years.
This guide reviews the best proof of stake coins to invest in this year.
Top 10 Proof of Stake Coins 2024
The sections below provide the top 10 proof stake cryptocurrency list for investors to watch right now.
- Pepe Unchained – Best PoS meme coin, built on the Ethereum L2 blockchain.
- Crypto All-Stars – The ultimate staking platform where you can stake popular meme coins.
- Flockerz – Revolutionary vote-to-earn meme coin with massive staking rewards.
- ShibaShootout – Wild West-themed meme coin. Get up to 808% staking APY.
- Sponge V2 – Offers an innovative Stake-to-Bridge transition with exclusive P2E gaming incentives.
- Cardano – Offers low-cost transactions that are energy-efficient. Also has extensive staking pool support.
- BNB – Binance’s native token with many trading discounts and a gateway for BEP-based cryptos.
- Solana – 65,000 TPS decentralized blockchain with an innovative PoH protocol.
- Avalanche – Unique three-chain architecture with 6,500 TPS and a hub for decentralized apps.
- Algorand – Pure Proof of Stake consensus that randomly selects users for block validation.
Closer Look at the Top Proof of Stake Cryptocurrency to Buy
Here is an in-depth analysis of the top 10 PoS cryptocurrencies to look at this year. Keep reading to learn about the features, tokenomics and price rises for the trending Proof of Stake coins in 2024.
1. Pepe Unchained – Overall Best Proof of Stake Token, Get 464% Staking APY
Pepe Unchained ($PEPU) is an Ethereum-based layer-two (L2) meme coin that offers huge staking benefits.
Since Pepe Unchained is an L2 token, it offers greater transaction efficiency while reducing gas fees. The platform also reduces operational costs by offloading transactions from the main chain to the L2 chain.
Therefore, Pepe Unchained manages to provide huge staking benefits to $PEPU token holders. At the time of writing, $PEPU can be staked to earn an APY (Annual percentage yield) of up to 130%%. Over 300 million tokens are staked on the platform.
From a total supply of 8 billion tokens, 30% will be distributed through staking pools in the long-term. For all these reasons, Pepe Unchained is the top proof-of-stake coin in 2024. Currently, $PEPU is priced at $0.00989 on presale. In a few months, the presale campaign has raised over $16.5 million.
To learn more about this meme coin, read the Pepe Unchained whitepaper and join the Telegram channel.
| Presale Started | June 2024 |
| Purchase Methods | ETH, BNB, USDT, Card |
| Chain | Pepe Unchained (Ethereum L2) |
| Staking APY | 130% |
2. Crypto All-Stars – Ultimate Staking Platform Where Locking Popular Meme Coins Earn Rewards
Crypto All-Stars ($STARS) could be one of the best staking platforms as it allows investors to lock their Dogecoin, Shiba Inu, Brett, Bonk, and many popular meme coins into the MemeVault. This smart contract distributes $STARS tokens as a reward to its users.
Users who also hold $STARS tokens will earn 3x more rewards. Because of that, the Crypto All-Stars presale has raised $1.83 million so far, showing strong investor support. During the presale, investors can buy $STARS at a discounted price of $0.001471.
The discounted price, however, won’t last long. During the presale, there will be 50 stages and each stage will see a small increase in token price. This makes early purchases more rewarding.
On top of that, the early presale stages reward stakers with a generous APY of 813% dynamic. The APY will drop, giving the biggest rewards to early investors.
Make sure to follow Crypto All-Stars on X and join their Telegram group to get the latest updates.
| Presale Started | Aug 2024 |
| Purchase Methods | ETH, USDT, BNB, Card |
| Chain | Ethereum |
| Staking APY | 813% |
3. Flockerz – Ethereum-based Meme Token Offers Vote-to-Earn Rewards and Presale Staking
The next top proof-of-stake cryptocurrency is Flockerz ($FLOCK). Built on the Ethereum blockchain, Flockerz empowers its community members by rewarding them for voting on future decisions of the meme coin project. Contributors are rewarded with $FLOCK, the project’s native token.
At the heart of the Flockerz ecosystem is the FlockTopia DAO (decentralized autonomous organization), which gives each $FLOCK token holder voting rights to shape the meme coin’s future. The more a community member votes, the more they earn through the platform’s vote-to-earn feature.
Additionally, $FLOCK holders can stake the token and earn high APY rewards, especially when staking the token early on in the presale. Currently, staking rewards go for 7,895% APY, which will decrease as more investors join the staking pool. Over 23 million $FLOCK have already been staked on the platform.
25% of the total token supply is reserved for staking rewards, promoting long-term passive earnings that contribute to the stability of $FLOCK. Staking $FLOCK helps secure the Flockerz ecosystem, so participants of the staking pool get the proper rewards.
Those looking to buy $FLOCK can buy the token with ETH, USDT, BNB, or a credit card. To learn more about the project, check out the Flockerz whitepaper and join the Telegram channel for the latest news.
| Presale Started | September 2024 |
| Purchase Methods | ETH, USDT, BNB, Card |
| Chain | Ethereum |
| Staking APY | 7,895% |
4. ShibaShootout – Cowboy-Themed Meme Coin Offers Staking and Storytelling Rewards
ShibaShootout ($SHIBASHOOT) is a Shiba-themed meme coin that offers huge staking rewards to token holders. This project is set in the virtual world of the wild west and offers multiple financial-earning opportunities.
Through the staking mechanism, $SHIBASHOOT can be staked to generate an annual yield of more than 808%. However, the staking yield will reduce as more tokens are locked on the platform.
To earn further rewards, users can share engaging meme coin stories on the ‘Campfire Stories’ mode. The best storytellers will earn $SHIBASHOOT tokens. ShibaShootout also hosts lotteries, and gives voting rights to token holders.
From $SHIBASHOOT’s total 2.2 billion token supply, 440 million tokens will be allocated through staking rewards. So far, more than 40 million tokens are staked on ShibaShootout. At press time, $SHIBASHOOT is priced at $0.0205 per token, on presale.
In a few months, the presale has raised over $1.17 million. To learn more about this project, read the ShibaShootout whitepaper and join the Telegram channel.
| Presale Started | April 2023 |
| Purchase Methods | ETH, USDT, BNB, Card |
| Chain | Ethereum |
| Staking APY | 808% |
5. Sponge V2 – PoS Crypto With A Stake-to-Bridge Model And Exclusive P2E Game, Offers a Live APY of 246%
Sponge V2 is a new upgrade to the wildly popular $SPONGE meme coin. After its debut in 2023, skyrocketing from a $1 million market cap to nearly $100 million, Sponge V2 is now set to build upon this legacy.
This new version offers innovative mechanisms and gaming elements to provide more value and engagement for its community. Per the Sponge V2 whitepaper, the platform offers a unique Stake-to-Bridge model. This model requires users to stake their existing V1 tokens, which are then permanently locked, in exchange for V2 tokens. This approach ensures a smooth transition to the new version and instills a sense of long-term investment in the community.
Initially, obtaining V2 tokens is exclusively possible through staking V1 tokens, with plans for the new version to launch on tier-one centralized exchanges (CEXs) eventually. This exclusive access period via staking is a strategic move to reward existing token holders.
A key addition to Sponge V2 is its Play-to-Earn gaming ecosystem, offering free and paid versions. This P2E game allows players to earn V2 tokens, improving the token’s utility and providing an interactive way for the community to engage with the token. The total supply of Sponge V2 tokens is set at 150 billion. A significant portion, over 51%, is allocated for staking rewards and P2E incentives. This distribution shows a commitment to rewarding community participation and creating long-term token utility.
With APYs reaching up to 34%, the project strongly focuses on incentivizing community involvement and investment. Sponge V2 aims to build on the success of its predecessor, leveraging a strong community base of over 30,000 members. The team aims to expand this community further, using targeted marketing strategies and the appeal of new token features. Users interested in Sponge V2 and its ongoing developments can join the Discord and Telegram channels.
| Presale Started | Dec 2023 |
| Purchase Methods | ETH, USDT, Card |
| Chain | Ethereum |
| Staking APY | 34% |
6. Cardano – Decentralized PoS Cryptocurrency With Low-Cost Transactions
Cardano (ADA) is an open-sourced platform built on the proof-of-stake consensus to provide a decentralized and peer-driven blockchain.
Cardano used the PoS protocol Ouroboros, allowing the network to support staking pools where ADA holders can delegate their stake. Staking pools ensure the maintenance of the staked assets and validate the transactions on Cardano. Since PoS protocols support cheaper transactions, Cardano’s average transaction cost is roughly 0.16 ADA ($0.064) making it one of the most energy-efficient cryptocurrencies on the market.
After launching in 2017, Cardano implemented the Alonzo hard fork in 2021, which allowed the blockchain to support smart contracts and deploy various NFTs and DApps (decentralized applications). Cardano deployed over 100 smart contracts within 24 hours of the Alonzo upgrade, resulting in an ADA price rally in September 2021. Cardano uses less energy than the best proof-of-work coins, similar to other PoS chains which is why some people consider Cardano to be one of the most sustainable cryptos on the market.
Currently trading at $0.47, Cardano has corrected from its all-time highs (ATHs) of $3.10 set in 2021. However, the growing use cases and the low-cost efficiency makes it one of the cryptos with the most potential for growth.
7. BNB – Native Crypto of Global Trading Platform
BNB (Binance Coin) is the governance token of Binance – the largest cryptocurrency exchange in terms of the trading volume. Operating on the Binance Smart Chain (BSC), BNB follows the BEP standard to integrate smart contracts.
BNB follows the Proof of Stake Authority consensus, allowing a validator to stake a specified amount of BNB to validate transactions on the network. The token is the 5th largest cryptocurrency asset, with a market cap of $45 billion.
As the main token of the Binance exchange, BNB provides various benefits to Binance customers. Investors can get a 25% discount on spot trading crypto transactions on the platform, which generally costs 0.1% per transaction. Investors holding BNB can also save 10% on futures trading
The popular token is also used as a swapping mechanism for investors looking to purchase other BEP-based cryptocurrencies. For example, investors looking to buy Battle Infinity, one of the best new cryptocurrency assets, must purchase tokens with BNB.
After reaching an ATH of $690 in 2021, BNB is available to buy at only $280. Staking BNB typically offers an APY of around 5% to 15%, though this can vary based on the platform and staking method. You can stake BNB on platforms like Binance, Trust Wallet, or directly on the Binance Smart Chain (BSC).
8. Solana – Cryptocurrency Supporting 65,000 Transactions Per Second
Solana (SOL) is a fast and secure decentralized blockchain that uses an innovative protocol to validate its blocks.
Solana uses the innovative Proof of History (PoH) protocol, allowing the network to process transactions as they come in.
The protocol’s architecture allows Solana to achieve high throughput – processing 65,000 transactions per second (TPS). On the other hand, the Ethereum blockchain processes an average of 17 TPS. The high scalability makes Solana an ideal network for decentralized applications (DApps), as developers can achieve high levels of scalability with Solana.
While PoH is the protocol Solana uses to improve speed, SOL still operates as a Proof of Stake consensus mechanism and supports staking protocols. SOL has proven to be one of the best altcoins to invest in, as the token has increased from $0.78 in 2020 to $33 in September 2022. Despite the enormous growth, SOL is 87% below its ATH and may be a potential long-term investment opportunity.
Staking Solana typically offers an APY of around 6% to 8%, though the exact rate can vary depending on the validator and network conditions. Rewards are distributed automatically, usually every 2 to 3 days. You can unstake your SOL at any time, though there may be a brief unstaking period.
9. Avalanche – PoS Cryptocurrency With 3 Sub-Blockchains
A layer-1 network, Avalanche (AVAX), is another smart contract-compatible platform that acts as a hub for decentralized applications and custom blockchain networks. A popular Proof of Stake crypto, Avalanche can support 6,500 TPS.
The high transaction speeds are made possible due to Avalanche’s unique blockchain architecture. The cryptocurrency consists of three different blockchains, each partaking a different role in validating the transaction process. The Exchange Chain (X-Chain) is responsible for sending and receiving funds on Avalanche.
The Contract Chain (C-Chain) handles the transactions generated by DApps or smart contracts, while the Platform Chain (P-Chain) takes care of the staking/validator transactions on the Avalanche network. AVAX, the native token, is currently trading at $19 with a market cap of $5.6 billion. Avalanche is currently a strong buy, according to our AVAX price prediction.
Avalanche’s staking APY is around 8% to 11%. Your AVAX will be locked for the staking period, which can range from 2 weeks to a year, with rewards distributed at the end.
10. Algorand – Cryptocurrency With a Unique Take on the Proof of Stake Protocol
Algorand (ALGO) is a self-sustaining blockchain-based network that uses the Pure Proof of Stake (PPoS) consensus, slightly different from the PoS algorithm.
With the PPoS network – platform users are chosen randomly to validate blocks and vote on proposals. The likelihood of a user being selected is linked to the amount of ALGO they stake.
Therefore, Algorand’s unique consensus strives to increase security, ensuring that minority shareholders do not have the power to harm the whole system.
In 2022, Algorand also developed the London Bridge – a trustless bridge that makes the network compatible with the Ethereum blockchain. In the long term, Algorand looks to solidify its DeFi ecosystem. Currently, ALGO is trading at $0.3 per token.
For Algorand, staking usually provides an APY between 5% and 10%. Unlike some other cryptocurrencies, Algorand doesn’t require you to manually stake your ALGO. Simply holding ALGO in your wallet allows you to earn rewards, which are automatically distributed. There’s no need to lock up your funds, so you maintain full control over your ALGO at all times.
Proof of Stake Explained
Proof of Stake (PoS) is a network consensus used to validate transactions on different blockchains. Since cryptocurrencies aim to be decentralized networks, transactions are validated in a distributed databases, known as blockchains. Each block comprises a new transaction which has been validated on the network.
To verify transactions using the Proof of Stake consensus, coin owners can act as the validators of transactions. Coin owners stake their own token holdings to get assigned the responsibility of validating transactions on the network.
These coin owners or ‘validators’ are selected at random, with each crypto network offering different rules to become a validator. For example, Ethereum requires its coin owners to stake at least 32 ETH ($51,000 at the time of writing) before standing a chance to become a network validator.
Proof of Work vs Proof of Stake
When Bitcoin was launched in 2008, the cryptocurrency space adhered to a Proof of Work (PoW) consensus. With Proof of Work, the consensus provides an objective way for Bitcoin holders to navigate and manage transactions on the platform.
Proof of Work enables the concept of hashes, which comprise a long string of numbers, each assigned to a particular block. When a given data set is put through a hash function, it will only generate one hash. The hash will become totally unrecognizable if the data is tampered with or changed.
Each block is identified by its own unique hash, and one block connects directly to another on the blockchain. Therefore, it is impossible to tamper with a different set of hashes since one validates the other. Generating even one hash requires tremendous amounts of computational power. Therefore, the validators of Proof of Work networks are known as ‘Miners’.
For example, the production cost to mine one Bitcoin is expected to be around $13,000. The high cost of production combined with the limited token supply of Bitcoin is one of the big reasons for its high price.
However, the Proof of Work network has been blamed for requiring an unsustainable amount of energy to facilitate the process. Therefore, Proof of Stake originated as a quicker and cost-effective alternative to validate transactions.
Should You Invest in Proof of Stake Tokens?
Before investing in PoS cryptocurrencies, investors should analyze why this particular asset class may be a good investment. The sections below discuss some of the main advantages of Proof of Stake cryptocurrencies.
Energy Efficient
Bitcoin miners are required to solve a complex mathematical equation to receive a Bitcoin. This process requires large among of energy, which has led many miners to switch to green energy resources. Since 2015, the energy requirements to mine one Bitcoin has rapidly increased, meaning that only the best bitcoin miners are enough to be competitive.
Growth of the Consensus
With the PoS consensus, many blockchains are managing to increase scalability while quickly establishing new blocks on the blockchain. In fact, Ethereum has developed close competition from upcoming crypto coins such as Cardano, Solana, and Algorand, all of which have applied this consensus.
The popularity of the Proof of Stake consensus is now at its peak, as Ethereum will be undergoing a network upgrade which will see it switch from the Proof of Work to Proof of Stake consensus. In the long term, it is more likely for PoS tokens to be more sustainable.
Conclusion
After reviewing the best Proof of Stake cryptocurrencies, we recommend Pepe Unchained ($PEPU). It is a hot new meme coin built on the Ethereum L2 blockchain. $PEPU, the native token, can be staked to get up to 464% in annual staking rewards.
FAQs
What are some of the most popular Proof of Stake coins?
Some of the popular proof-of-stake tokens include Pepe Unchained ($PEPU), and Crypto All-Stars ($STARS).
Is Shiba Inu a Proof of Stake crypto?
Yes, it was previously a PoW coin but after the Ethereum Merge – which saw ETH switch to PoS – Shiba Inu is also now PoS.
Is XRP token a PoS cryptocurrency?
Unlike most blockchain networks, Ripple (XRP) does not use a PoS or a PoW consensus. The network relies on a consensus system that is controlled by various bank-owned servers. However, the new cryptocurrency, $XRP20 is a proof-of-stake token, and offers staking benefits to token holders.
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