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Staking CryptoCurrency

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  • 30-08-2020 4:38pm
    #1
    Speculator
    Registered Users Posts: 300 ✭✭


    Staking cryptocurrency means you are holding cryptocurrency to verify transactions and support the network. In exchange for holding the crypto and strengthen the network, you will receive a reward. With staking you can generate a passive income by holding coins.

    These are the coins I'm staking at the moment.

    MATIC reward is 35%

    ONT reward is 5% down from 16%

    What are Boardies staking?


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    #2
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    VET, ALGO, XTZ & SXP at the moment


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    #3
    RasTa
    Closed Accounts Posts: 15,116 ✭✭✭✭RasTa


    Tezos


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    #4
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    CRO


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    #5
    Whelo79
    Registered Users Posts: 2,649 ✭✭✭Whelo79


    RasTa wrote: »
    Tezos

    Axion next month when its live. Passive income is one of its main aims. A high interest, time locked savings account.

    XIO also when their flash staking app is launched next month. Staking rewards are paid out up front.


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    #6
    Stormington
    Registered Users Posts: 521 ✭✭✭Stormington


    Speculator wrote: »
    Staking cryptocurrency means you are holding cryptocurrency to verify transactions and support the network. In exchange for holding the crypto and strengthen the network, you will receive a reward. You can also call the an interest. With staking you can generate a passive income by holding coins.

    These are the coins I'm staking at the moment.

    MATIC reward is 35%

    ONT reward is 5% down from 16%

    What are Boardies staking?
    You will have to try harder than this Revenue Commissioners.


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    #7
    SkySter
    Registered Users Posts: 828 ✭✭✭SkySter


    Speculator wrote: »
    Staking cryptocurrency means you are holding cryptocurrency to verify transactions and support the network. In exchange for holding the crypto and strengthen the network, you will receive a reward. You can also call the an interest. With staking you can generate a passive income by holding coins.

    These are the coins I'm staking at the moment.

    MATIC reward is 35%

    ONT reward is 5% down from 16%

    What are Boardies staking?

    Not staking at the moment, but I have BAND and KAVA and thinking it might be a good way to hedge if the market gets a bit bumpy for Alts in the next few weeks.


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    #8
    unkel
    Registered Users Posts: 64,974 ✭✭✭✭unkel


    Staking meh. Masternoding is where it's been at for the last few years :D


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    #9
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    any stakers out there, you can now stake your Zilliqa on the ATOMIC wallet for up to 29% returns


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    #10
    Whelo79
    Registered Users Posts: 2,649 ✭✭✭Whelo79


    Lex Luthor wrote: »
    any stakers out there, you can now stake your Zilliqa on the ATOMIC wallet for up to 29% returns

    I offloaded my ZIL a few months ago.

    I'll be staking my Axion come Monday morning. Staking is a guaranteed 8% (but that is based on 100% of tokens being staked). If 50% of tokens are staked the rate becomes 16% and so on. Additional interest is gained on the big pay day dates also for those who are staked for 350+ days. Earlier stakes get a better share rate of BPD's.

    There are huge penalties for ending a stake early (50% I believe). So it's a big incentive for people to stick with their commited stake length rather than break out early of the price jumps.


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    #11
    Donegal1234
    Registered Users Posts: 522 ✭✭✭Donegal1234


    Been staking my Matic past 3 months. Been great passive income and at 30% apr can’t go wrong. Celsius network are offering 16% I think atm.


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    #12
    Irish_rat
    Registered Users Posts: 2,555 ✭✭✭Irish_rat


    How is 30% staking rewards feasible?


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    #13
    Gooey Looey
    Closed Accounts Posts: 1,297 ✭✭✭Gooey Looey


    Donegal1234 wrote: »
    Been staking my Matic past 3 months. Been great passive income and at 30% apr can’t go wrong. Celsius network are offering 16% I think atm.

    Where are you buying Matic?


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    #14
    Donegal1234
    Registered Users Posts: 522 ✭✭✭Donegal1234


    Irish_rat wrote: »
    How is 30% staking rewards feasible?

    It’s not always going to be 30%. It will be much much lower as more people stake on it. Matic is backed by Coinbase and already on Coinbase custody so it ain’t some scam.


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    #15
    Donegal1234
    Registered Users Posts: 522 ✭✭✭Donegal1234


    Gooey Looey wrote: »
    Where are you buying Matic?

    Crypto.com is cheapest. Can buy also buy on binance,


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    #16
    Dohnjoe
    Registered Users Posts: 17,799 ✭✭✭✭Dohnjoe


    Irish_rat wrote: »
    How is 30% staking rewards feasible?

    It's an artificial token creating more artificial tokens, the staking rewards can be whatever they want.

    Obviously a project needs to put all sorts of mechanisms to discourage token holders from selling and diluting the value of the extra tokens being created - some do a better job of this than others.


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