Background
While Bitcoin and Ethereum represent two of the very early cryptocurrencies with a proof-of-work (PoW) consensus mechanism, the crypto world rapidly changed within the last couple of years. Among a vast variety of new alt-coins, the proof-of-stake (PoS) concept became the most popular consensus model to date. Power consuming mining of new blocks got replaced by the eco-friendly alternative of staking existing coins in your wallet.
Having accumulated a specific amount of coins, some currencies also allow the building of a masternode, usually associated with higher rewards. Running such a masternode requires to match the collateral of coins, which for most users is hard to reach on their own.
Earning passive income by either staking or running masternodes still represents a high barrier due to the need for each wallet of the different coins to be online for staking 24h and the high collateral of coins required for masternodes and the associated hassle of setting them up on a remote server.
What StakingLAB.io offers
StakingLAB is a web-based service representing staking pools and shared masternodes.
Staking pools are offered for a variety of popular coins. You send your coins to your deposit address in your personal dashboard and your coins get staked automatically. Even if you own a very small amount of coins, which will most likely have a hard time to hit a block, your coins are staked in the larger staking pool granting you the relative share of each stake.
Shared masternodes provide a way to benefit from the higher rewards of masternodes compared to conventional staking. Once your coins are deposited to your own deposit address, you can choose to participate in one of the two offered shared masternode models, standard shared masternodes and instant nodes. For the instant nodes, you immediately get rewarded based on your share since the masternodes are already running by the stakingLAB.io professors. More details can be found on the stakingLAB.io website or in the discord channel, links provided below. The amount of coins invested in a masternode can be arbitrarily chosen.
StakingLAB.io provides a real way of passive income from your acquired cryptocurrencies of choice, there is no need to run another computer dedicated to staking or renting virtual servers. A big big advantage of this web-based service is the ability for every user to monitor all their staking coins, the shared masternode earnings, a history of all deposits or withdraws and a nice overview of your overall balance, distributed over the different cryptocurrencies. Deposits and withdraws can be handled there as well.
It is also holiday-safe, meaning you can check and manage your coins even from locations like a beach :-). You don’t have to worry about mandatory wallet updates, server restarts or other interruptions. The stakingLAB professors will take care of it for you.
Of course, running such a service is not completely free, servers need to be rented and people need to be paid to ensure a 24h availability. This means minimal fees, paid in the coins you get rewarded, apply. Depending on the different services you use, they range from 3% for staking up to 7.5% for instant masternodes. More info can be found on the help section of the website.
Conclusion
Overall, stakingLAB exists since early 2017 and has grown to over 5000 users (according to the discord channel). Users get a friendly 24/7 support in discord. In my opinion (not a financial advisor), it is a great service for everybody who wants to earn real passive income.
Better stake together
GregMant
More info
Website (ref) – https://pool.stakinglab.io/
Discord – https://discord.gg/Bxfkb6q
Twitter – https://twitter.com/Staking_LAB
Facebook – https://www.facebook.com/stakinglab/