11 Best Proof of Stake Coins to Buy in 2024

Proof-of-stake (PoS) coins are gaining popularity due to their main features – staking and control over the crypto project. Unlike Bitcoin’s proof–of-work (PoW) consensus, PoS does not require any (expensive) mining equipment – you just need to purchase tokens and stake them.

Apart from potential huge returns and APY, staking allows you to participate in the project’s governance. By purchasing and staking coins, you become part of the system and get voting rights concerning the project’s future developments.

This is why many investors opt for the best proof of stake coins. Keep reading to learn more about selecting a PoS coin that best suits your investment portfolio.

Best Proof of Stake Cryptos to Buy Now Reviewed 

In the sections below, we will review 11 of the best proof of stake coins to buy in 2024.

Our review will include each PoS token’s unique benefits, prices, staking APY, and other important features. 

1. Pepe Unchained

We have picked Pepe Unchained ($PEPU) as the best proof-of-stake token to buy in 2024. This meme coin is built on the efficient and scalable Ethereum layer-two (L2) blockchain and promises huge staking rewards due to the reduced operational costs. 

At the time of writing, $PEPU, the native token, can be staked to generate an APY (Annual percentage yield) of 231%. Of the total supply of 8 billion tokens, more than 600 million are locked in the staking mechanism. 

In the long term, 30% of the total token supply will be distributed through the staking pools. Since the L2 token offloads transactions from the main chain, it increases scalability while reducing costs. 

Another 20% of the token supply will be distributed through the ongoing presale. At press time, $PEPU is priced at $0.0090178 per token. Within a few months, the Pepe Unchained presale has raised more than $8.4 million. 

To learn more about this meme coin, go through the Pepe Unchained whitepaper and join the Telegram channel. 

2. Crypto All-Stars

Crypto All-Stars ($STARS) is one of the top proof-of-stake (PoS) meme tokens to watch in 2024. It is expected to launch a revolutionary staking mechanism, known as the ‘MemeVault.’

On the MemeVault, holders of the world’s best meme coins can stake all their holdings together. This vault will support the staking of tokens such as Dogecoin, Shiba Inu, Pepe, Brett, Floki Inu, and Turbo. 

As a reward, this PoS ecosystem will reward token holders with $STARS, the native currency. Notably, staked token holders can get a 3x increase on the standard APY, by simply holding $STARS in their portfolio. 

Alternatively, $STARS can directly be staked on the Crypto All-Stars ecosystem to generate an annual yield of up to 5,073%. Over 145 million $STARS tokens are staked on the smart contracts. 

From a 42.069 billion token supply, 50% will be distributed through the MemeVault and staking rewards. The ongoing Crypto All-Stars presale has raised $350K in only a few days. Read the Crypto All-Stars whitepaper and join the Telegram channel for more information. 

3. The Meme Games

The Meme Games ($MGMES) is an Olympics-themed meme token that offers high staking rewards and provides gamified bonuses to presale investors. Built on the Ethereum blockchain, The Meme Games offers a high staking yield by allowing $MGMES investors to lock their holdings on smart contracts. 

At press time, $MGMES can be staked to earn an APY of more than 571%. From a 2.024 billion token supply, 10% will be distributed as staking rewards. 

Another vital component of The Meme Games is its Olympics-style races. After purchasing $MGMES on presale, investors can choose from a variety of meme avatars and take part in a 169m dash race. 

Should your meme avatar win this randomized race, you will receive a 25% presale investment bonus. This, along with the staking mechanism, is a great incentive to attract long-term investors. 

So far, The Meme Games presale has raised more than $362K within a week of the presale launch. Learn more about this project by reading the Meme Games whitepaper and joining the Telegram channel. 

4. ShibaShootout

The next top PoS Coin in 2024 is ShibaShootout ($SHIBASHOOT). This is a Wild West-themed meme token that offers multiple use cases – including high staking returns, lottery giveaways, and storytelling rewards. 

Firstly, the staking mechanism allows $SHIBASHOOT holders to lock their holdings and earn up to 1,000% in annual yield. So far, more than 23 million tokens have been staked on ShibaShootout. To earn a further reward, token holders can purchase tickets and join lottery rounds hosted on the platform. 

This innovative platform also offers token rewards through its ‘Campfire Stories’ mode. On this feature, users can share their meme coin journeys in an engaging storytelling format. The best storytellers can win $SHIBASHOOT tokens. 

From a total supply of 2.2 billion tokens, 440 million will be allocated as staking rewards. Another 770 million are being distributed through the presale. Currently, $SHIBASHOOT is priced at $0.0198 per token. 

In a few months, the ShibaShootout presale has raised over $933K. Learn more about this meme coin by going through the ShibaShootout whitepaper and joining the Telegram channel.

5. Mega Dice Token

Mega Dice Token ($DICE) is the next crypto on our list of proof-of-stake coins. It’s built on the Solana blockchain and is the native token of the Mega Dice Casino and sportsbook.

You can stake your $DICE tokens to earn high passive income. There are three different ways to stake, depending on the time period: 10 days, 3 months, or 6 months. The annual yield will differ based on the option you choose.

Moreover, you can also get daily bonuses in the Mega Dice Casino when you stake your tokens. Out of the total supply of 420 million $DICE tokens, 10% will be given out for staking.

The platform also offers exclusive perks for $DICE stakers, like early access to new casino games and other exclusive events. 

Mega Dice currently offers 35% of its tokens in the presale at a relatively low price for early buyers. At the time of writing, each $DICE token is selling out for just $0.069. The presale raised over $880K in just a few weeks of launch, showing strong investor trust.

You can learn more about the project by reading the Mega Dice whitepaper and can also enter its Telegram group to get the latest updates.

6. Sponge V2

Sponge V2 is a major upgrade of the SPONGE meme coin, a meme crypto that captured significant attention in 2023. Rising from a $1 million market cap to an impressive $100 million, SPONGEV2 aims to sustain its predecessor’s legacy and offer innovative features to improve its appeal and utility.

Central to Sponge V2 is the Stake-to-Bridge model. This unique mechanism allows existing Sponge V1 token holders to transition smoothly to the new version by staking their V1 tokens.

The total supply of SPONGEV2 is set at 150 billion tokens, with over 51% allocated to staking rewards and the P2E gaming experience. This allocation strategy is designed to incentivize user participation and create community engagement.

The project engages its community through various channels, including Telegram and Twitter.

7. Polygon

Polygon (MATIC) is a proof-of-stake cryptocurrency used to increase the scalability and flexibility of the Ethereum blockchain. Since Polygon is built on Ethereum, it leverages the security and structural benefits of the popular blockchain. 

MATIC, the native cryptocurrency, is used to settle transactions on the network and govern the Polygon ecosystem. By using the PoS consensus, Polygon validates all blocks on the network. By staking MATIC users help validate the network transactions on the Polygon ecosystem.

The successful validators are rewarded with free MATIC tokens. Polygon is also a faster alternative to Ethereum since it processes blocks in just 2.1 seconds. This cryptocurrency uses zero-knowledge rollups to decrease network congestion and increase transaction speed.

Currently, MATIC is priced at $1 per token. One of the best altcoins, Polygon has a market cap of nearly $10 billion.

8. Cardano

Cardano (ADA) is a unique proof-of-stake cryptocurrency. This cryptocurrency has been built on the Ouroboros consensus algorithm, the first ever to be created via peer-reviewed research. 

To help validate new blocks, Cardano leverages stake pools. Each stake pool is run by a stake pool operator and allows ADA tokens to be staked. Stake pools enable all users to participate in the staking protocol.

This is because token holders can maintain nodes on the staking pool without holding any technical expertise. A single stake pool will hold the stake of numerous stakeholders with a maintenance focus.

By staking ADA, token holders can earn rewards as new blocks are validated. Furthermore, this crypto token is used to settle transactions on the network. One of the best cryptocurrency tokens, Cardano is also used by developers to build DeFi applications and dApps. 

At the time of writing, ADA is priced at just $0.6354 per token. ADA is still the 8th largest cryptocurrency despite the price, with a market capitalization of over $22.5 billion.

9. Solana

Solana (SOL) combines two protocols, unlike other proof-of-stake coins on our list. While Solana does adhere to the PoS protocol, it also uses a proof-of-history (PoH) consensus. 

The PoH algorithm helps Solana become a more scalable blockchain, which helps increase the number of users in the ecosystem. Boasting one of the shortest processing times, Solana has a block processing time of 400 milliseconds. Furthermore, this unique cryptocurrency can process up to 65,000 transactions per second.

Solana supports smart contracts and the creation of decentralized applications. The SOL token can be staked on the ecosystem and is used to settle transaction fees. 

After SOL was released in 2020, the token traded under $1. It enjoyed a sensational price increase, but at the time of writing its price stands at $188, with a total market cap of nearly $84 billion.

10. BNB

Binance Coin (BNB) is the native cryptocurrency of one of the biggest crypto exchanges in the world, Binance. For context, Binance has a trading volume of around $1 trillion every day. 

BNB offers high scalability and quick transaction processing times by operating on a proof-of-stake consensus. Based on the Binance Smart Chain (BSC), BNB is used to settle network transactions and can be staked to earn rewards.

Binance has noticed a growing interest in this cryptocurrency due to the rewards it offers token holders. For example, users can save up to 25% on spot trading fees by holding this token. Thus, BNB is one of the best utility tokens to hold. 

While BNB has a maximum supply of 200 million, the cryptocurrency uses an auto-burn feature to reduce the token supply. The token can become more valuable with increased demand as the supply reduces. 

Therefore, cryptos with limited supply are usually in high demand. So far, nearly 20% of the token supply has been burnt. The $BNB token is priced at $560 and has a market cap of over $83 billion.

11. Ethereum 

Until 2022, Ethereum operated on a proof-of-work consensus. However, it shifted to a proof-of-stake algorithm to become a more secure and less energy-intensive network. 

On the Ethereum PoS, validators stake ETH into a smart contract. The validators then ensure that new blocks are validated on the blockchain. To become a validator on Ethereum, one needs to stake at least 32 ETH. As new blocks are executed, the validators earn free tokens on the ecosystem.

After Bitcoin, Ethereum is the largest cryptocurrency in the world. The popular altcoin is currently priced at $3,533 per token, with a market cap of $424 billion. During its peak, Ethereum reached an ATH of nearly $5,000. In 2022, the token declined from the highs to the $1,000 level.

What Are Proof of Stake Coins?

Generally speaking, PoS is a mechanism used to validate a cryptocurrency transaction. Since many digital assets are decentralized and not controlled by any government or financial institutions, proof-of-stake has developed as a concept to verify the validity of these transactions. 

One of the key stakeholders of this consensus is the validator, users willing to stake their tokens to secure the network and verify the transactions. The tokens are used as collateral and are locked into the ecosystem. In return for staking their tokens, the validators earn rewards. 

The rewards on the PoS consensus are shared in proportion to your staked amount. Therefore, a validator who stakes more tokens and successfully validates new transactions can earn higher rewards. 

If the validator is negligent in validating the transaction or tries to verify a fraudulent transaction, the system will automatically detect this event. The validators could be punished by slashing, a concept where all the staked tokens are burnt. 

What’s the Difference Between PoW and PoS?

PoW and PoS protocols have the same goal – to verify new blocks on the network. However, the difference between these two methods lies in how they function. 

While the block creators are referred to as validators on PoS, they are termed miners on the PoW mechanism. 

Miners verify new transactions by trying to solve a complex mathematical equation. The goal is to find the hash, a cryptographic number used to validate the transactions. Miners are required to purchase processing equipment and large machines to mine new tokens using the PoW mechanism. 

PoS mechanisms, on the other hand, require validators to stake crypto tokens on the network. This is used as collateral while the validators work to validate new blocks. The reward received is proportional to a user’s ownership stake. 

The PoW mechanism has been criticized for using vast amounts of energy used to validate blocks. The PoS mechanism was designed as a more energy-efficient and sustainable alternative to the outdated proof-of-work concept.

Are PoS Cryptos Worth it in 2024?

While our proof of stake cryptocurrency list covered the most popular tokens, it is crucial to determine whether this sector would make for a good investment. Therefore, the sections below analyze whether investing in the PoS space in 2024 makes sense. 

New Investment Opportunities

We are witnessing the rise of new cryptocurrency tokens, which offer proof-of-stake mechanisms. For instance, token presales such as Smog (SMOG) and Sponge V2 (SPONGEV2) have raised millions. The success of these projects can be attributed to their staking mechanisms. 

While most large-cap cryptos have corrected in the past few years, investors may be interested in diversifying their portfolios with new tokens such as the ones mentioned above.

Offers Passive Income Despite Volatility 

One of the main advantages of holding proof-of-stake cryptos is the passive income they offer to investors. While there is no guarantee of making a profit on your investment, locking up the assets can generate regular yearly income. 

Thus, even if your investment corrects throughout the year, you will earn a side income through the staking APY. Thus, proof-of-stake cryptos could be a valuable investment for those seeking safety in this highly volatile market.

How We Ranked the Best Proof of Stake Coins

The sections below discuss how we ranked our top 14 proof-of-stake cryptos list. We discuss several features, such as the staking returns, available use cases, and the blockchain’s processing speed. 

Staking Returns 

One key factor when finding the best proof-of-stake coins is the staking APY and returns. The higher the APY, the more likely investors are to invest in the project. 

Throughout this review, we have found that some new PoS projects offer the highest returns. One of the cryptos with the best payout, SPONGE V2, offers an annual yield as high as 406%.

It is important to note that these APY are subject to change as more tokens are staked on the ecosystem. 

Block Processing Times

The faster a network can process transactions, the higher the chance of increasing scalability and usability. This review has identified multiple networks, such as Solana and Cardano, which process transactions quickly. 

For instance, the Solana blockchain can process a block in 4 milliseconds. This makes the network more attractive to developers looking to attract a large range of users to their applications. The more users on the network, the higher the likelihood of the trading volume to increase.

Additional Use Cases

Many of the cryptos we have covered offer stellar use cases, which make the asset an attractive investment. For instance, the BNB token makes trading cheaper on the Binance crypto exchange. One can access lower trading fees on various markets and earn higher staking rewards. 

Similarly, tokens like MATIC are used to govern the ecosystem and settle transactions.

What Are the Risks When Buying PoS Coins?

Before purchasing any asset, it is important to be aware of the pros and cons. That said, we will now cover some potential risks of buying the best pos coins. 

Price Volatility 

When investing in PoS cryptocurrencies, many investors may forget to analyze the asset’s technicals or fundamentals and simply focus on the returns. While a high return can be beneficial, it may not cover up for the potential price correction the asset faces.

For instance, you may earn a 10% APY on staking a token, but the token’s use cases and long-term potential should also be taken into consideration. Otherwise, you may end up holding a coin that drops by 50% in no time. 

While no crypto is immune to price corrections, investors should carefully analyze the project’s use cases and features before investing.

Lockup Periods 

Another associated risk with holding PoS coins is the lock-up period. Depending on the cryptocurrency, you may have to stake your coins anywhere from 7 days to a year. If you wish to sell a particular token that is correcting in valuation but have yet to complete the lock-up period, your assets will be stuck. 

Therefore, it is worth looking at projects that offer more flexibility.

How to Buy Proof of Stake Coins Today

We will now show readers how to purchase Pepe Unchained. Follow the sections below to learn how to purchase $PEPU. 

Step 1: Get a Crypto Wallet 

To purchase $PEPU, you will need a compatible cryptocurrency wallet. Wallets such as MetaMask and Wallet Connect are compatible with this cryptocurrency. 

Get the web extension or download the crypto wallet app to get started.

Step 2: Purchase ETH, BNB, or USDT 

After downloading the wallet, you can purchase crypto tokens using BNB, Ethereum, or Tether. If you do not hold these tokens, purchase them from a suitable crypto exchange, and transfer them to your crypto wallet. 

Step 3: Connect to the Website

Visit the Pepe Unchained website. The homepage has a widget through which you can purchase tokens using BNB or USDT. Click the ‘Connect Wallet’ icon, and connect your wallet to the website.

Step 4: Buy $PEPU Tokens 

When buying $PEPU through the website, choose either ‘BNB,’ ‘USDT,’ or ‘ETH.’ Enter the number of tokens you wish to buy, and confirm the transaction.

Conclusion

Even though Bitcoin is going to stay the king of crypto, at least for a while, you should definitely consider investing in the best proof of stake coins, too. Apart from traditional trading, you can use them to earn passive income through staking, which requires minimal technical knowledge.

While established projects such as Solana and Ethereum are popular options among investors, we have noticed that new presale tokens are among the most exciting PoS assets, such as Pepe Unchained ($PEPU), which offers an annual staking yield of over 173% during the early presale stages.

References 

• https://dydx.exchange/crypto-learning/polygon
• https://markets.businessinsider.com/news/currencies/wall-street-bull-nft-collection-gamification-wallstreetbets-crypto-2022-1#:~:text=Street%20Memes%20company.-,An%20NFT%20collection%20of%2010%2C000%20Wall%20Street%20bulls%20sold%20out,in%20a%20retail%2Dtrading%20community.
• https://www.quora.com/How-and-when-do-block-and-transaction-validations-take-place-in-blockchain
• https://www.analyticsinsight.net/10-ways-ai-is-changing-the-crypto-industry/
• https://www.zeeve.io/blog/comprehensive-guide-on-polygon-blockchain-use-cases/
• https://docs.cardano.org/new-to-cardano/proof-of-stake/#:~:text=Features%20of%20proof%20of%20stake&text=This%20means%20a%20higher%20chance,election%20occurs%20within%20the%20chain.
• https://ieeexplore.ieee.org/abstract/document/9825807 
• https://www.statista.com/statistics/802775/worldwide-cryptocurrency-maximum-supply/#:~:text=Crypto%20investors%20tend%20to%20be,they%20hope%2C%20guarantees%20value%20gains.
• https://docs.google.com/spreadsheets/u/0/d/1RPFDqiRqvZITfqZ0UrLQzTWxoDJ_Z8B72gIpSsObDZo/edit
• https://ethereum.org/en/energy-consumption/
• https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-proof-of-stake
• https://web.archive.org/web/20190429064714id_/http://elit.lnu.edu.ua/pdf/9_10.pdf 
• https://coinmarketcap.com/academy/glossary/token-lockup

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