5 Best Proof Of Stake Coins To Buy In 2022 - Our Picks
Tamadoge - Best Proof of Stake Crypto to Trade
Battle Infinity - PoS Crypto with Staking Platform
Cardano - Decentralized PoS Cryptocurrency with Low-Cost Transactions
Binance Coin - Native Crypto of Global Trading Platform
Solana - Cryptocurrency Supporting 65,000 Transactions Per Second
A Closer Look At The 5 Best Proof Of Stake Coins To Buy In 2022
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, PoS blockchains have become increasingly popular in the last few years.
This guide reviews the best Proof of Stake coins to invest in this year.
Tamadoge
Tamadoge (TAMA) is a new cryptocurrency token that leverages the decentralized GameFi (Gaming Finance) space by offering its platform members a play-to-earn (P2E) ecosystem. TAMA is the native cryptocurrency in the Tamaverse - a metaverse-style ecosystem that attracts players by hosting tradable NFT competitions.
On the Tamaverse, players can utilize TAMA to invest in tokenized pet NFTs known as Tamadoge pets. Using smart contracts, these 3D avatars have been minted as NFTs (non-fungible tokens). On Tamadoge, players can purchase NFTs and other virtual items to help breed their 3D pets.
Eventually, the P2E element of the Tamaverse will host community-wide competitions, where the top performers will earn dogepoints on a monthly leaderboard to win TAMA rewards.
Tamadoge underwent one of the best crypto presales of 2022, raising $19 million in less than eight weeks. TAMA runs on the Ethereum network, and Ethereum’s new upgrade has switched the network from a PoW to a PoS consensus, making it one of the best Proof of Stake coins to invest in.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Battle Infinity
Combining P2E features with decentralized finance (DeFi) protocols, Battle Infinity (IBAT) provides a unique decentralized cryptocurrency platform. Leveraging IBAT, the native token, along with NFTs and staking protocols, Battle Infinity hosts 6 unique P2E features.
Catering to the growing popularity of GameFi among crypto projects, Battle Infinity will incorporate P2E opportunities through the IBAT Premier League - a decentralized sports fantasy league where players can earn IBAT rewards. To trade IBAT, platform members must access the IBAT Battle Swap - Battle Infinity’s decentralized exchange.
Notably, IBAT follows Binance’s BEP standard to facilitate low-cost transactions on the platform. It also uses the Proof of Stake concept to validate transactions on the different P2E mechanisms. Investors can validate transactions by staking IBAT on the IBAT Battle Stake - a crypto staking platform that provides potentially high APYs (Annual Percentage Yields) to traders.
Striving to become one of the best metaverse crypto coins, Battle Infinity has developed the Battle Arena - a virtual ecosystem where players can use VR headsets to participate in concerts, events, and other virtual ecosystems.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano
Cardano (ADA) is an open-sourced platform built on the proof-of-stake consensus to provide a decentralized and peer-driven blockchain. It uses 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 the network. 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. In addition, the network uses less energy than the best proof-of-work coins, similar to other PoS chains, and this is why some people consider ADA to be one of the most sustainable cryptos on the market.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin
BNB (Binance Coin) is the governance token of Binance - the largest cryptocurrency exchange in terms of 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.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana
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 Solana's protocol to improve speed, SOL still operates as a Proof of Stake consensus mechanism and supports staking protocols. As a result, 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.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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