Want to move from mining to governance? Staking your crypto may be the best course of action for you. Staking occurs on - surprise, surprise - proof-of-stake modelled cryptos, and is designed to decentralize blockchains through adding new blocks via validators. In plain English, users validate transactions through staking their tokens, creating new blocks onto the blockchain. Better yet, in staking pools, users will be able to have a seat at the table and accumulate interest over time - usually entering accounts every two to three weeks depending on the liquidity pool and wallet provider. Given the variety of blockchains and platforms on offer, though, it is vital that you stake correctly.
So, what's the catch? Well, many platforms are introducing penalties for users who withdraw their stake too early – potentially limiting your investment opportunities and hurting you to boot. There is also the risk of a quick, volatile shift in the market while your tokens are off the exchange. But the larger your stake, the bigger your influence… and long-term rewards. If you’re in this for the long term and have the capital to play – here are some staking options that could potentially work for you.
As many PoS cryptos offer staking options nowadays, this Spark lists those that are that little bit more notable, boasting dedicated and established staking platforms. This list does not constitute advice, and you should always do your own research before placing a trade.