The process of “staking” cryptocurrencies is based on locking the currency holder for the currency in his possession for a specific time and period of time, provided that the encrypted currency supports “staking” to benefit from a free distribution of coins of the same sex as the currency in his possession, according to the duration and according to the number of coins locked to it.

This process is based on the PoS Proof of Stake mechanism.

The owners of the coin and token can participate in the right to vote and participate in the management of the network.

Because they subscribe to that amount without using it, and they are rewarded for it.

There are different types of verification algorithm, and one of the most popular is Delegated Proof of Stake (DPoS).

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With DPoS, users can allocate their credits as votes, which are used to elect a certain number of delegates.

These delegates are the ones who run the blockchain operations on behalf of the people they voted for.

“Staking” on cryptocurrency wallets:

Crypto investors can hold their cryptocurrencies in their designated wallets, and take an active part in the tireless efforts of the cryptocurrency blockchain network.

Usually this happens as part of a pool, but some wallets can easily add equivalent tokens.

Below we will learn about the four best wallets for staking cryptocurrency in 2020

1- Ledger wallet:

The Ledger hardware wallet is one of the most popular wallets in the crypto community when it comes to storing digital currencies.

The wallet offers two storage options using Ledger Live or the third-party wallet app.

The first option requires the user to install an app on the device and create a Ledger Live account.

Then the funds must be transferred, and the staking process is triggered automatically.

The second method works similarly, but after installing the Ledger Live app, the user needs to choose a suitable third-party wallet for asset management.

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After that, the funds must be transferred, and users can start earning rewards.

It’s also worth noting that Ledger is a cold storage wallet, which is generally considered the safest option since it’s a physical offline device.

According to Mattia Sarfati, in charge of growth and marketing:

So far, staking is only possible in Tezos coin.

But other cryptocurrencies can be shared using third-party wallets (such as TRX with TronScan wallet).

Our idea is to develop this future in Ledger Live in the near future.

2- Exodus wallet:

Exodus is a wallet that supports several popular currencies and is compatible with both desktop and mobile devices.

The wallet app can also be easily integrated with the Trezor hardware wallet.

Exodus offers an option to store cryptocurrencies, and after a recent partnership with Switchain has made the wallet a API.

Additionally, the Switchain system is designed to display information only rather than retain it.

Exodus wallet provides staking rewards for Ontology (ONT) and NEO and new coins are expected to be added soon.

3- Atomic wallet:

Atomic Wallet is another multi-crypto wallet, compatible with desktop operating systems such as Windows, macOS, Ubuntu, Debian and Fedora, as well as mobile devices for both Android and iOS.

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To take advantage of the staking service, the cryptocurrency must be transferred to the storage address provided by the wallet.

Once the rewards are received, the investor can convert them to any other currency.

The Atomic wallet allows staking for Tezos, Cosmos, NEO, VeChain, and Ontology.

4- Trust Portfolio:

Trust Wallet is a “secure wallet that supports multiple cryptocurrencies”.

It can be installed on mobile devices that work with Android and iOS.

Recently, Binance acquired the Trust Wallet to increase the security of the growing number of users’ coins.

The process of setting up a Trust wallet staking is similar to other wallets in that after downloading and installing it on the device, the user needs to send the cryptocurrency to be accumulated to the provided cache address.

The Trust Wallet offers staking for a wide variety of cryptocurrencies such as:

VeChain, Tron, Callisto, TomoChain, Tezos, Cosmos, IoTeX, Algorand.

Other staking methods:

There are cryptocurrency exchange platforms that also offer aggregation and rewards to users from these platforms:

Binance, Coinbase, Kraken, OKEx, KuCoin, Huobi, Bithumb, Poloniex…

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