What is a Proof of Stake Wallet, and Why do you Need One?

We all know that if you have crypto assets, you need a safe place to store them. With the development of cryptocurrency wallets growing daily, it can be easy to find any old online wallet. But with new technology being created faster than you can say ‘blockchain’, we’ve realized that they simply don’t offer the benefits of some other platforms, such as a POS wallet. However, searching for the perfect Proof of Stake wallet for your altcoins can be a lengthy process, especially as not many exist. So, what is a proof of stake wallet, why do you need one, and where can you find one?

What is meant by ‘Proof of Stake’?

POS is essentially an alternative route for transaction verification on a Blockchain. The Proof of Stake system allows a holder to mine and validate blockchain transactions, according to the number of altcoins and cryptocurrencies you hold, as long as they make use of POS. Therefore, the more coins you own, the more you’re able to generate in return. But staking them not always that easy.

Why do I need a Proof of Stake wallet?

Virtual wallets are a platform to store your digital assets, offering privacy, security, and profitability they’re practically everything you need to look after your crypto. Proof of stake wallets allows you to generate instant, unlimited and fee-less transactions, along with the huge benefit of annual rewards, and interest offered on your POS coins.

‘Crypto makes Crypto’

You’ve probably heard the term ‘money makes money’. This also goes for cryptocurrencies. There are multiple coins that are known for their passive income and staking advantages. POS wallets allow holders to earn crypto, according to the number of coins they already own. Making it easy to earn daily, whilst holding onto your coins securely in the wallet. What better way to increase your income, whilst playing it as safe as possible?

What POS wallet is best?

With the number of pos wallets growing at a significant rate, finding a worthy wallet can be difficult. Cobo has developed a unique wallet by integrating all the necessities of virtual wallets, such as speed and security, as well as using the Proof-of-stake pooling system. With the Cobo wallet being able to hold a vast amount of cryptocurrencies, and more advances on the way – it’s definitely a wallet to look out for.