My favorite part about this is the passive income. I love it. Passive income is truly my dream come true ever since I've been research cryptocurrencies for myself. Thank you for this one, because I'm looking to have my crypto portfolio abound with passive income streams and cold staking sounds interesting and exciting. So far I'm loving DPOS so cold staking can be the bonus nail in the coffin of poverty..
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Congrats on the 5 SMART @kofibeatz (: We agree that passive income is the way to go and we hope that you are at 1,000 SMART because it has been on sale for a very long time LOL and we think that that will be a gold mine of passive income in the future, even just having 1,000 coins.
We hope you get into this ETC fork and have it in the right wallet, there's less than 4,000 blocks to go :O
Here's the wallet: https://ethereumproject.github.io/etherwallet/
Oh my goodness. Thank you so much. Yeah by grace I actually have an abundance of SMART in the stake wallet. I'm yet to experience the payout. I don't really understand how it works; whether or not the interest is fixed. Can you give me an example using 1,000 SMART? How much could that generate in the reward wallet on average? I mean in SMART amount, because I read something about 15% on blocks mined, but it's not clear to me..
Hey @Kofibeatz! For you to earn SmartRewards you must hold a minimum of 1,000 coins in your SmartCash Wallet and you cannot withdraw. The snapshot is every 25th of the month. The interest earned can be 5-12.5% and depends on how many coins you have in there. The more coins the more free coins earned. Off of 1,000 coins we have seen anywhere from 45-85 a month free coins. This can go up or down depending how many people are splitting the rewards pool each month.
Ok, makes sense. So if one is to leave for example 85 new free coin in the reward wallet, it would automatically compound?
Yeah each snapshot, it takes a full picture of your wallet after it adds the new coins from SmartRewards
Do I need to activate the snapshot. What if I don't open my wallet until the 28th, does it effect the snapshot? How do they do the snapshots?
It doesn't matter if you open the wallet or don't open the wallet. You can add coins every day, to all your wallets, and then go check on them if you want. What matters is that you don't SEND any FROM a smart rewards wallet to somewhere else. You can send coins from one of your wallets that isn't smart rewards, marked "spending" by default (: We can do a video on this soon!