It is the dawn of the crypto age. More and more, businesses and financial institutions are accepting the use of crypto currencies and assets as legitimate stores of value. In the past year, hundreds of new blockchain based projects have been launched – some of which have great potential to change the world.
One very interesting opportunity that crypto currencies present is the ability to create a passive income, through “mining.” However, traditional POW (Proof of Work) mining is difficult to do, and it can be expensive. After buying a computer and graphics card powerful enough to mine, an investor can be thousands of dollars in the hole. And let’s not forget the cost of electricity – mining consumes a lot of energy. However, not all crypto currencies use the Proof of Work method to generate coins. POS (proof of stake) is the more eco-friendly alternative: holders of a coin in a wallet can receive coins through staking, or the holding of a Masternode. Masternodes tend to be expensive, however. The first coin to implement this POS method was DASH, with masternodes currently priced at over $250k. There is a clever new service entering the crypto market: POS pools. The idea behind this is that if hodlers of a coin pool their coins together, the POS reward will be higher and more consistent. After experimenting with POS pools, I can attest to their effectiveness. One of these innovative pools is titled StakingLab.io. Stakinglab was started in Germany in early 2017 with the goal to help novice investors make good decisions in the wild market of crypto currency. Since its inception, it has grown rapidly into a platform with over 7000 users, a thriving online community, and it grows larger every day. It supports a number of quality POS projects like PIVX, LPC, and MONK (more on these coins in a future post), as well as others. In addition to providing an effective pool service, stakinglab.io is also implementing instant nodes. Essentially this means that when their “pool” of coins reaches the threshold required to become a Masternode, it is automatically done. This results in an even higher yield.
New to crypto? Don’t know where to start? Not to worry, because Stakinglab also offers advisory services, as well as video tutorials on how to use their site to start staking. They also have an extensive help section on their site, which answer any question you could have.
Services like stakinglab are removing the technology barrier of Crypto to the public. Their easy-to-use site simplifies the POS process into something that even the most technically challenged grandparent could learn to use (with a little help)…!
There is no minimum amount of coins required to deposit, so join the pool and get staking!