This is very useful info, I'm a few hours away from my savings transfer being completed and I've been wondering what the smartest options were. Whether to power up or delicate the SP...
This is very useful info, I'm a few hours away from my savings transfer being completed and I've been wondering what the smartest options were. Whether to power up or delicate the SP...
Make sure to check out the link I posted in the article. It is helpful to understand how the rewards are earned. Also, it is important to understand that STEEM and SP are the same currency. SP is only STEEM that is locked away. With SP, you earn interest and the coveted daily voting power. Owning more STEEM in the form of SP earns more money.
SP is more secure than holding STEEM or SBD. REASON: SP takes time to power down (i.e. to free up the STEEM). If an account gets compromised, the first thing that happens is any liquid STEEM or SBD gets transferred. Keep in mind that this is caused when users release their master or active key. It is important to keep those keys offline and only use the active key after verifying the URL. While storing STEEM in SP, hackers cannot get access to the STEEM locked away in SP because the hacker would need to go through the power down process.
Good point, did realize it
Will do thanks @socky.