Yes there is a fee of 500 BTS (about $30.00) to set up the account. For that you get a real name and it stops name squatters and phishing schemes. It also helps offset the costs of the $500,000.00 spent so far to build BEOS.
For me the cost was well worth it.
It's not necessarily the cost for me ( I already invested most of my money in cryptocurrency and this isn't a lot for me ), it's more about the hassle and number of steps I need to take without knowing what it will actually lead to / bring me.
That, plus having less BTS available and not being a fan of exchanges. I will get there, eventually.
Thank you, old dog!
The staking account is help in cold storage by Blocktrades and can be moved out at will.
Oh lord please don't put it like that... $30! OUCH. I've gone a bit crypto crazy this last month, so that's not a lot in the grand scheme of things but a wake up call for to me to be a little bit careful.
Also a handy indictor for how much BTS I've actually invested cheers.
Risks and rewards. Weigh them and take them......or not!
Here in Switzerland $30 is a pizza and a beer.
P.S. Here in rural Portugal, 30 dollars that is going out for lunch three times ( one drink and dessert included ). I am Dutch though and used to higher prizes but nothing like those in Switzerland.
A move to Portugal might be in my future!
:>)
If it ever happens, feel free to reach out