**The site has ceased operations at the start of 2021.
About SimplePosPool
SimplePosPool is a pool where you can put your coins for staking or participate in shared masternodes.
When you’re staking a coin, you will be rewarded with x amount of coins, like a fixed deposit, you will be paid an interest as a reward. The reason why you get paid is because when you’re staking, you have your personal wallet 24/7 opened and are helping support the blockchain network of that coin. The same happens when you purchase a coin masternode. You lock some coins (masternode collateral) and you get coin rewards.
As we already know you will need many coins on the wallet to receive staking rewards and the cost of running a masternode is very high. By taking part in staking pool you will have a higher chance of earning more profit as many members are staking combined. The reward is divided among the pool participants. The same happens with the masternodes as you only need a portion of the collateral to participate and receive rewards.
SimplePosPool offers that service for free and also handles all the technical aspects. You will only pay 3% of each stake you receive. The fee for rewards of shared masternodes is 5%. When you receive your stake it´s already without the fees.
SimplePosPool features
The site offers many coins that you can invest and many coins are added all the time. All you have to do is deposit the number of coins you want and start staking.
When it comes to masternode coins for every coin you will need a minimum amount of coins to participate. Some examples are shown in the image below.
After setting all that, you can start getting daily rewards which can easily be found on the activity tab of your account. You can also set it up to receive email alerts when getting rewards.
The rewards will be added to your account balance. You can leave them there to have them stake (if the coin also allows staking), or you can request a withdrawal at any time. Of course, you can purchase more masternode slots when you have the required coins.
Finally, if you have enough coins to cover the collateral, you have the option to create a dedicated masternode at the SimplePosPool platform.
SimplePosPool is the first staking pool that has allowed users to stake DPOS coins. The first coin added is NULS and you can now stake by having only a small portion of the amount needed to stake solely.
SimplePosPool referrals
You can share your personal invite link with others and when they register over your link they become your affiliates and you will receive a share of the fees they pay. There are currently 4 affiliate levels and you will earn 10% of the fees a level 1 affiliate pays, 5% of a level 2 affiliate, 3% of a level 3 affiliate and 1% of a level 4 affiliate.
Below is an image that explains better those mentioned above.
SimplePosPool pros
Below are the main advantages of using the SimplePosPool site:
- The frequency of rewards is much higher when you’re staking in a pool.
- DPOS coins are available for staking.
- Free to join and no minimum deposit required for staking.
- You can cancel your participation in a shared masternode at any time and get back your coins. The coins are not locked and are available for you at any time.
- Easy to use even if you do not know anything about masternodes or staking.
- All the difficult technical aspects are taking care of.
- You don’t have to leave your computer and coin wallet open 24/7 as with solo staking. Also, you don’t have to pay for hardware, hosting, electricity, servers etc.
- 100% transparent and all your coin balances, deposits, withdrawals and rewards are logged in your personal history in your account. You can check all the rewards for yourself on the coin explorers.
- The rewards will be added to your account balance and increase your staking balance automatically. Also, your masternode rewards will start staking immediately if the coin offers that option.
- Available option for a dedicated masternode.
- Fast withdrawals.
- Wallets are maintained and updated as soon as new versions are released. You are notified on time when you are required to take any action.
- Generous referral rewards.
- Very fast support on the Discord channel.
I cannot find something wrong about the SimplePosPool platform. One minor disadvantage is that for some coins with low interest it might take some hours before you can cancel your participation. Besides some minor technical problems the site has proven their value and is a safe place to invest your money. All the drawbacks come from the masternode ecosystem itself as many coins have turned into scams. So you have always to make research before investing your money into any coin.Â
Conclusion
Investing in PoS and masternode coins is relatively new in the crypto world. SimplePosPool is a tool that simplifies a lot the whole process and gives everyone the opportunity to invest in such projects. You should be aware that the site does not provide investment advice, and you should do your own research before you make any investment. By adding a coin to SimplePosPool, this is not an endorsement of that coin. You make all your investments at your own risk.
If you are keen on that kind of investment, SimplePosPool is the place to start.
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