Know the basics about POS coin
In this blog, I am going to you a basic idea about a POS coin.
For this blog, I am going to use the NRG coin as an example. It is one of the best POS coins that I have used and still using.
Photo Credit: HERE
A little brief
NRG coin was launched on 14th April 2018 by Tommy World Power. It is an ETH based POS coin that has been by far the greatest, in my opinion, currently with the price of $2.03(at the time of writing this article). The highest it has been ~$9.28. NRG coin is a coin sign for Energi.
How to get started with Staking
Currently, the way you can get your first NRG coin is by buying the coins from the exchanges listed on their website here, OR join the rains It's simple you can get your first NRG coin and then transfer them to your NRG wallet(MyEnergiWallet).
Once you have coins you can start staking the coins by following this guide's listed Here:
The Masternode
Now the name might scare you but it's not that scary. The Masternode is a server type machine that you can run using a computer, It helps manage the network of the CryptoCurrency.
It is always advised to run the Masternode on a VPS(Virtual Private Server), to avoid showing your IP address in their list.
The way their Masternode is paid out is, They have a reserved treasury for Masternode owners so, for example, you have deposited the collateral 1000 NRG, you will receive a little part of the Block that is mined in the server, and if you have deposited more the 1000 NRG then you receive more NRG coins from the block.
The minimum NRG required to start a Masternode is 1000 NRG that's about $2060(at the time of writing this article). This 1000 NRG deposit is a Collateral.
The Guide to run a Masternode is Right HERE.
My Experience
In my experience, the NRG coin has been an amazing coin throughout the time I have used it they have fast transactions, an example I had withdrawn about 2 NRG from their listed exchanges and it took less than 30 seconds to appear in my wallet, now 2 NRG isn't a lot but compared to other coins that I had experience with it's is the fastest withdraw I have seen.
There is still a lot that I want to write about NRG coin and I will be doing it in the future BLOG