The cryptocurrency era is here, and with it are multiple opportunities for people to make money. One of easiest ways to make money in the crypto space is through staking. So what exactly is staking? Staking simply stands for holding a cryptocurrency in your wallet for a fixed period, then earning interest on it. The reward that one earns from staking varies depending on the length of the time that they hold it. The longer the stake duration, the higher the returns.

Where can you stake cryptocurrency?

Staking is common with alt-coins. You cannot stake Bitcoin. That's because bitcoin rewards people through a different system known as the proof-of-work system, where the reward is determined by how many coins a person mines.

What are the advantages of staking crypto?

One of the main advantages of staking is that it eliminates the need to invest in expensive mining hardware. You just need to buy the coins and hold them in your wallet. The next thing to do is to sit back and watch as your wallet balance grows in value. It's quite an easy way to make money.

The other advantage of staking is that it gives you a guaranteed and predictable source of income. That's because, the value of coin increases in predictable figures. It's the same as putting money in a fixed account. You are always guaranteed of getting your money back.

Is there a downside to staking crypto?

Just like with everything else in life, staking has its drawdowns. The main drawdown to staking is that you lock up your coin for the period of the stake. This means you cannot sell your coins during this period. While this is not a problem when the coin is growing in value, it can lead to massive losses in a bear run. The amount you earn may not be enough to cover for the losses that you incur from your coin's declining value.

Proof of stake (aka POS) cryptos has many technical benefits but apart from that some proof of stake cryptos also give different economic benefits/dividends to its HODLers by giving them the option of running a masternode or staking their coins in a stake-able wallet.

So if you are holding any such POS cryptocurrencies, then I think you should know how to start earning dividends by staking them in the right wallets.

First of all you have to understand the difference between Proof of Stake ( POS ) and Proof of Work ( POW ) coin.

Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. Unlike proof-of-work (PoW) based cryptocurrencies (such as bitcoin), where the algorithm rewards participants who solve complicated cryptographical puzzles in order to validate transactions and create new blocks (i.e. mining), in PoS-based cryptocurrencies the creator of the next block is chosen in a deterministic (pseudo-random) way, and the chance that an account is chosen depends on its wealth.

This tells us that we dont have to setup a miner, using CPU or GPU running 24 hours to earn coins. We can earn coins in a much easier way.
We have to setup wallets - for each coin - running 24 hours 7 days a week to hit blocks based on the coin-age. You dont need a mining graphic card anymore, Wallets run on almost every PC.

Every PoS Coin is working with a different way - some coins have to mature 6,12 or 24 hours to be able to receive stakes, some coins hit a reward every couple of days. I will try to present you each coin with detailed information so you can know how and when you will receive your next rewards.

A Wallet shall run 24 hours, 7 days a week - as mention above already - to make sure that your transfered coins can mature and receive stakes. You have two possibilities to handle this problem.

Possibility 1 You can leave your PC open whole day to make sure coins mature and stake.

Possibility 2 You setup a Windows Server.

Almost every PoS Coin is listed on different exchanges.

You have to understand that every coin uses their own, unique Wallet. So you have to download a Wallet for each coin.

HOW TO SETUP A WALLET?

Step 1 Download the Wallet let all processes run at the same time.

         Navigate to the Bitcointalkthread or Homepage of the coin,  showing us the destinations where to download the wallet.

Step 2 Synchronize the Wallet and Encrypt it

       After you downloaded the wallet you can open it for the first time by simply starting the application. Next step is to navigate to "Settings -> Encrypt Wallet" to setup a Password you can remember and which is not so easy to guess. After you setup a Password you are kindly asked to restart the wallet, please do so. Now the wallet will proceed to synchronize with the current block, depending on how old and fast the coin is this could take several minutes to hours. Once you are finished with synchronizing please navigate again to "Settings" and unlock your wallet by entering your Password. This progress is needed to allow the wallet to "work" with your coins (mature them to receive stakes).

Step 3 Transfer the coins to your wallet

    Navigating to your "Receive Coin" Tab will show you a wallet adress. This wallet adress needs to be used to transfer coins from your exchange ( see above ) to your encrypted wallet.
Once you transfered the coins you shall receive a new transaction in your wallet. After you received them you are done with the basic setup and your coins begin to mature.