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.
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.
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