Best staking platforms of year 2022
Among the main methods of obtaining cryptocurrency in a passive way there are two options – mining and staking. With the flow of time, the first one is getting replaced with the latter due to the discovered disadvantages and developed alternatives. One of the key reasons for switching to the staking has become the “green” issue, as mining has the massive impact on worsening the condition of the environment. But then the question is: what will happen to the proof-of-work blockchains involved? The possible solutions already exist, gradually getting more recognition, which will be shown later.
Why the staking platform should be chosen with caution
Unfortunately, the platform activity cannot be always predicted, working on the concepts of mutual trust, so, before starting performing operations on the certain platform, make sure to check the reputation through the client reviews. In other case, the neglection of check can be quite costly.
Another issue to be taken care of is the amount of fee charge the platform takes for the services presented. Not everyone is ready to pay up to the quarter of assets gained during the withdrawal of funds, so that is the criteria that may be quite important for many.
Which platforms are best to pick from
Coinbase. One of the most known platforms for staking with exchange support, has quite the choice of coins working on Proof-of-Stake consensus mechanism. As a disadvantage, it is quite expensive, taking the 25% of income during withdrawal.
Figment. SaaS type of staking allows to stake the funds from their participation in smart contracts or blockchain apps, supporting ETH2, DOT, SOL and other cryptocurrencies compatible with deploying smart contracts. The only possible drawback is that the fee can reach 12% percent from funds.
Oreol Staking. Aside from the usual staking, also offers such technology as cross-chain staking, allowing to stake the Proof-of-Work coins, too, its list includes all the most popular cryptocurrencies, giving the high rewards. The functional range of the platform is still in the ongoing phase of development.
Prime Stake. The provider-type platform, working with both the PoS and PoW coins thanks to the help of cross staking technology, introduces the opportunity to stake stablecoins, too. Due to the recent start, the cryptocurrencies available are only gradually added with each update.
Staked.us. Contains the stable 10% fee for the services, combining within the staking from SaaS and DeFi operations. Offers around thirty coins for staking, including mostly popular ones.
Among the list there are the staking platforms which not only limit the activity to basic Proof-of-Stake coins, but also expand their services to Proof-of-Work blockchains. Such option is possible thanks to the applied technology of cross-chain staking, which is able to perform the smooth transition from mining to staking without the need for blockchains to forcefully change the consensus mechanism, which is a costly and long-term procedure that little can handle. Its other advantages include the “green” protocol, improved security, increased speed for processing of data flow and, which is most beneficial for common user, increased rewards for several times for participating in staking, so it is quite worth paying attention, too.
Original article https://ko-fi.com/post/Cross-Staking-Z8Z5CJ3RR