12 Best Proof of Stake Crypto to Invest in 2024

Viraj Randev

Last updated: April 26, 2024 04:31 EDT | 18 min read

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 12 Proof of Stake Coins 2024

The sections below provide the top 12 proof stake cryptocurrency list for investors to watch right now.

1. Dogeverse – Doge-themed meme coin offers 15,000% APYs. Provides multi-chain compatibility. 
2. WienerAI – Wiener-themed meme coin with impressive staking rewards.
3. 99Bitcoins – Learn-to-earn crypto built on Ethereum. Get 70,000% staking APYs and airdrops. 
4. Mega Dice Token – PoS crypto offers daily bonuses on the Mega Dice Casino. Get high staking APYs. 
5. Sponge V2 – Offers an innovative Stake-to-Bridge transition with exclusive P2E gaming incentives.
6. Smog – Top alternative for the best proof of stake coin with huge airdrop rewards and a 42% staking APY.
7. Bitcoin Minetrix – Stake-to-mine token with high APYs, cloud mining credits. Raised over $10 million.
8. Cardano – Offers low-cost transactions that are energy-efficient. Also has extensive staking pool support.
9. BNB – Binance’s native token with many trading discounts and a gateway for BEP-based cryptos.
10. Solana – 65,000 TPS decentralized blockchain with an innovative PoH protocol.
11. Avalanche – Unique three-chain architecture with 6,500 TPS and a hub for decentralized apps.
12. 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 11 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. Dogeverse – Multi-Chain PoS Meme Coin Offers a Staggering Annual Yield of 15,000%

Dogeverse ($DOGEVERSE) is the best proof-of-stake token to invest in 2024. While Doge-themed tokens are often associated with limited utility, $DOGEVERSE offers high staking yields and multi-chain compatibility. 

From a total supply of 200 billion, 20 billion tokens will be offered to staked $DOGEVERSE holders as staking yields. At the time of writing, staking the token can generate more than 15,000% APYs (Annual Percentage Yields). 

In only a few hours, over 104 million tokens have been staked on Dogeverse. To join this PoS cryptocurrency, you can purchase tokens through the ongoing presale. Currently, $DOGEVERSE is priced at $0.00029 per token. 30 billion tokens will be offered through the presale. 

Early investors can benefit from the high APYs as the yields decrease once more tokens are staked. This innovative cryptocurrency offers multi-chain compatability – as it is available on Ethereum, Binance, Polygon, Solana, Avalanche, and Base. 

Thus, token holders can seamlessly navigate across blockchains to access the lowest gas fees and fastest transaction speeds. In only a few hours since the presale launch, Dogeverse has raised more than $300K. 

With the hype surrounding Doge Day, which takes place every year on April 20th, we could expect the presale to sell out rapidly. Stay tuned for more project updates by going through the Dogeverse whitepaper and joining the Telegram channel. 

Visit Dogeverse

2. WienerAI – Sausage Dog Themed Meme Coin With Impressive Staking Rewards

WienerAI ($WAI) is the latest in a long line of dog-themed meme tokens promising high returns for staking the token. In such a competitive market place, WienerAI is hoping to have a major impact.

Despite the name, WienerAI is a meme coin with next to no utility. Instead, the team behind the project is relying on marketing hype in a bid to send the token viral. However, in such a crowded marketplace this may be a long shot and so the WienerAI team is also offering passive rewards for anyone who stakes their $WAI tokens.

Buying the token is easy. Simply head to the official presale website and connect your favorite Ethereum wallet. Next, choose how many tokens you would like to buy before clicking ok to finalize your purchase. Your tokens will then be air-dropped to you once the presale has ended. There are 27.6 billion tokens available on the presale so there are plenty to go around.

To buy your $WAI tokens, visit the official WienerAI website. For all the latest news and information, please follow the project on X and join the exclusive Telegram channel.

Visit WienerAI

3. 99Bitcoins – Learn2Earn Crypto Offers 70,000% Staking Yields and Airdrop Rewards

99Bitcoins is a popular crypto educational platform with over 700,000 users and 79 hours worth of trading courses. Now, the platform has launched its learn-to-earn crypto token, $99BTC. 

Built on the Ethereum blockchain, this proof-of-stake token can be staked to generate passive income. Currently, the 99Bitcoins Token is being allocated for the first time to the public, through the ongoing presale. 

Interested investors can purchase $99BTC for $0.001 during the ongoing presale stage, and stake their tokens on the secure smart contract. At press time, stakers can earn more than 70,000% APYs (Annual Percentage Yields) by locking in the 99Bitcoins Token. Over 15 million tokens have already been staked on the smart contract. 

To earn further rewards with 99Bitcoins, users can engage in the interactive Learn-to-Earn environments. Complete assessments, take part in quizzes, and progress through the educational curriculum to earn $99BTC as rewards. 

Community members can also join the 99Bitcoins airdrop, and stand the chance to win from a prize pool of $99,000 worth of tokens. The $99BTC token has a total supply of 99 billion. 14% will be offered as staking rewards, and another 17% as community rewards. 

The ongoing presale has raised over $115K in under 24 hours. For more information, go through the 99Bitcoins whitepaper and join the Telegram channel. 

Visit 99Bitcoins

4. Mega Dice Token – CasinoFi Crypto Offers In-Game Rewards to Staked Token Holders

The next top proof-of-stake cryptocurrency is Mega Dice Token ($DICE). Built on the Solana blockchain, Mega Dice Token powers the Mega Dice Casino and sportsbook. Staked token holders can extract several benefits, such as high annual yields and bonuses. 

Through a secure smart contract, users can start staking $DICE on the platform. You can choose to stake $DICE across three staking pools – ranging from a period of 10 days, 3 months, and 6 months. Your annual yields will vary depending on which staking pool you select. 

Furthermore, staked token holders also have the opportunity to receive daily bonuses on the Mega Dice Casino. The exact bonuses will depend on your past performance within the casino. From a total supply of 420 million tokens, 10% will be distributed through staking rewards. 

On the casino, stakers also receive first-hand access to exclusive casino games, features, and promotional events. Another 35% of the token supply is being distributed through the token presale. At the time of writing, $DICE is priced at $0.069 per token. 

In just one day, the presale has raised more than $320K. Stay tuned for further updates by going through the Mega Dice Token whitepaper and joining the Telegram channel. 

Visit Mega Dice Token Presale

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 exceeding up to 246% at press time, 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. 

These platforms provide the latest updates and information about the project, including details on the Stake-to-Bridge model, P2E gaming, and upcoming exchange listings.

6. Smog – Top alternative for the best proof of stake coin with huge airdrop rewards and a 42% staking APY

Smog ($SMOG) is currently our #1 alternative to proof of stake coins. It is a hot new meme coin built on the Solana blockchain that has gained massive investor attention with its impressive market performance since its launch on February 7, 2024, on Jupiter DEX.

The token offers a huge airdrop campaign and 42% APY on staking its native $SMOG tokens, making it an attractive option for investors looking for high-yield staking coins. Its value surged by over 2000% in just one week, with its market cap rising from $2 million to over $60 million. 

Smog has a fair launch model, avoiding a presale to ensure equal access for all investors. The platform’s ‘Greatest SOL Airdrop’ campaign allocates 490 million of the 1.4 billion total supply for rewards and encourages participation through social media engagement and on-chain activities like buying, holding, and staking.

With 50% of its total supply allocated for marketing efforts, Smog aims to become a leading meme token on Solana.

Moreover, cross-chain accessibility with an Ethereum bridge and plans for listings on centralized and decentralized exchanges show Smog’s commitment to expanding its reach and accessibility.

Investors interested in following Smog’s progress can check out the Smog whitepaper and engage with its community through the Telegram group and X (Twitter).

Visit Smog

7. Bitcoin Minetrix – Earn High APYs and Collect Bitcoin Mining Power with this Stake-to-Mine Cryptocurrency, Presale is Soaring

Next proof of stake coin is Bitcoin Minetrix, a project converging token staking with cloud mining. Bitcoin Minetrix will offer cloud mining credits to investors that stake $BTCMTX – the native cryptocurrency. 

Cloud mining has been run by large corporations that rent out mining power to individuals. However, this space is full of several scams and illegal activities. Therefore, Bitcoin Minetrix is introducing a new way for individuals and everyday people to make money through crypto mining. 

The platform will offer cloud mining credits – ERC-20 non-tradable tokens. These are recorded on the blockchain and cannot be misplaced or tampered with. Therefore, more autonomy and transparency are given to the customers. One must buy and stake the $BTCMTX token to earn the credits. 

They will earn passive income through high APYs (Annual Percentage Yields) and cloud mining credits. While these credits do not offer any direct value, they can be burned to earn Bitcoin mining power. With the mining power you collect, you get access to allocated mining times. This will be used to get a portion of mining revenues. 

This proof-of-stake cryptocurrency will launch the stake-to-mine platform after the end of the ongoing presale. Bitcoin Minetrix aims to raise a hard cap of $32 million through the presale. In only a few months, the presale has collected more than $10 million. 

Currently, $BTCMTX is priced at just $0.0132 per token. Learn more about the staking benefits and features of this crypto by going through the Bitcoin Minetrix whitepaper and joining the Telegram channel. 

8. 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’s ADA 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. 

9. 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. 

10. 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 protocols 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. 

11. 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. 

12. 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. 

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 unrecognisable 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 Dogeverse ($DOGEVERSE). It is a hot new crypto presale with over 15,000% staking APY. Within the first few hours off the presale, it raised over $300K, showing massive investor interest.

Visit Dogeverse

FAQs

What are some of the most popular Proof of Stake coins?

Some of the popular proof-of-stake tokens include Dogeverse ($DOGEVERSE), 99Bitcoins ($99BTC), Mega Dice Token ($DICE), Sponge V2 ($SPONGEV2), Smog ($SMOG), and Bitcoin Minetrix ($BTCMTX).

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.

About the Author

Viraj Randev

Viraj works as a writer for guides and daily news content on CryptoNews. He is an expert on digital asset price movements, price prediction columns, and news breakdowns. Viraj graduated with a BSC in Business Management from the University of Surrey. His content can also be found on online publications such as Economy Watch. Before joining Cryptonews, Viraj was in the top 10% of writers on Upwork. He is a versatile writer, having also worked in the digital, video, screenwriting, and scriptwriting fields.

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