Best Staking and Masternode Platforms in 2020
Cryptocurrency, News, Opinion

Best Staking and Masternode Platforms in 2020

With the advent of Proof-of-Stake (PoS) digital currencies, a lot of connected services have started to emerge that help the average investor and crypto enthusiast make most out of their cryptocurrency portfolio without the stresses of various technical difficulties.

Staking pools are one such way through which investors can earn passive income. In this case, several coin holders merge their resources to increase the chances of validating blocks and receiving rewards. They bring together their staking power and share the final block rewards proportionally to each member’s contributions.

Selecting a staking pool to stake and earn rewards jointly is a dependable way to make a regular profit. Staking pools can help you generate income without doing much work individually, as all responsibilities can either be distributed or delegated.

Another addition to Proof of Stake is the introduction of Masternodes. Masternodes act as a different type of user in PoS networks. A Masternode has added responsibilities when compared with a regular Staker. 

Projects that support Masternode staking place additional tasks on their masternodes that often include voting, delegation, decision making, etc. With these added responsibilities, these Masternode platforms are usually rewarded more than regular stakers.

In this guide, we will cover 5 of the most popular Masternode platforms to use for staking and earning an income.

1. MyContainer

Estonia-based platform MyContainer is a regulated staking-as-a-service provider that gives both newbies and experienced crypto investors to soft stake a wide range of PoS tokens via an easy and well-organized online platform.

This platform is the ultimate automated PoS and masternode coin staking platform, and it also provides an effective gateway for anyone interested in cryptocurrency to buy BTC with Fiat currency or exchange BTC for a variety of available altcoins on the platform.

One of the main rewards of purchasing crypto on the MyCointainer platform is that users can easily browse through numerous exchanges to find the best deal for the coins they want to buy, based on prevailing market prices.  

What sets MyCointainer apart in this category is the fact that it offers mixed and finalized PoS and Masternode staking as long as the coin you own supports Masternode technology. This makes it better than numerous other platforms that offer PoS staking only.

Moreover, staking fees on MyCointainer are very transparent and relatively low, with the possibility of staking some coins at no fee at all. 

Another factor that sets the staking service aside is its emphasis on security. MyCointainer does a pretty good job of deterring hacking risks by employing a layer of security features. They have also introduced the Secure Asset Fund for Users system to cushion investors in the event of a widespread hacking attempt

2. DASH

Dash is amongst the most noticeable hardforks allied with BTC, serving as a digital currency that sheds the speculative facets of Bitcoin while endeavoring to provide a prompt and easy-to-use token to crypto users. 

In February of last year, DASH unveiled its staked masternode program that gives users a simple means to earn DASH tokens passively.

DASH uses a dynamic number of masternodes, but users can enroll in the program by staking 1,000 DASH as collateral. 

The staking platform estimates a 7 percent annual return for participants, meaning that it serves as one of the most profitable and well-recognized platforms. Moreover, the long-term platform viability that exceeds its current price point.

Enrolling as a masternode, offers a unique and affordable way to both support DASH’s proliferation while also acquiring additional crypto along the way.

The staking platform also prides itself as a decentralized P2P electronic cash with hopes to become as acceptable as fiat.

3. Zcoin

Zcoin highlights the privacy element of blockchain tech, permitting users to exchange crypto using zero-knowledge cryptographic proofs

The platform uses a Proof of Work model called MTP, which endorses unrestricted mining while retaining fast verification. The process of achieving this is complex and intense, which is why the platform depends on its masternodes to maintain the blockchain. 

Masternodes on the platform are known as Znodes, and they verify Zerocoin (XZC) transactions, earning a 30 percent block reward commission.

Participants wishing to run a Znode are required to stake 1,000 XZC and download Zcoin’s certified wallet software. Furthermore, there are several technical requirements to facilitate staking, which include a computer a minimum of a single-core CPU, 1GB RAM, and 40GB of disk storage space. 

Fortunately, once the technology is in place, users are ready to start earning cryptocurrency from a platform embracing one of the dominant ethos of digital currency. 

4. Velas

Velas combines blockchain technology with Artificial Intuition, and, in November last year, it announced its highly secure crypto wallet, opening the door for a masternode program. 

Now users can enroll as masternodes by staking 1 million VLX, the platform’s native digital currency. That said, even users who don’t have 1M VLX to stake can sign up for rewards using CoinPayments, a well-known crypto gateway with links to Velas.

Most importantly, users don’t need to be tech-savvy to be a Velas masternode as they can simply download the Velas web wallet and start staking their VLX. Participants in the program can expect payouts every 4 hours, with projected yearly returns of about 8 percent.

5. PIVX

PIVX is a staking platform that offers private, prompt, and verified transactions, and its effectiveness is wholly reliant upon its masternode program

Users wishing to maintain one PIVX masternode have first to deposit 10,000 PIVX into the platform’s wallet and start intently earning rewards paid out every 60 seconds when 6 PIVX are created. 

Out of the total PIVX mined, one is designated to the development pool, and the rest is distributed proportionately amongst the participating masternodes.

PIVX masternodes provide users with a 4% reward for their efforts, although this amount can vary from time to time. 

To participate in the PIVX masternode program, users need to meet certain tech requirements, including 25GB free disk storage space, 1GB of processing power, and 1 TB bandwidth. 

The rewards aren’t as prominent as those offered by DASH and Velas, but it’s still a compelling opportunity for crypto users looking to add new digital assets to their reserve.

Conclusion

Participating in a masternode program warrants that crypto investors can buy new coins without designating weighty computing power or electricity to the process. Even more importantly, they can participate without the extreme competition that regularly surrounds other consensus mechanisms.

As the crypto revolution surges into 2020, a masternode program should be on the radar of every cryptocurrency investor or an enthusiast looking to exploit and earn revenue from the industry’s most recent trends.

Before enrolling in a staking service, be sure to consult platforms like CoinMarketCap, Masternodes.online, and other information arbitrators that provide detailed information regarding each project. Ultimately, choosing a reliable network to stake on is the most important part of staking. 

From our analysis, we recommend MyCointainer as the best staking and masternode solution currently available, mainly because the platform allows an easy gateway for anyone interested in leveraging the community staking pool and masternode pool platform to earn passive income.

MyCointainer is also very easy to use, as investors don’t need to set-up or manage any wallets or handle any technical facets of the staking process, as may be the case with other platforms. 

coinmag

Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.

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