Staking with Pivx (PIVX)
Pivx is one I’ve written about before with the last time being in late September. As I mentioned in that article Pivx is a proof of stake coin and you can stake PIVX by running its wallet.
So I decided to give it a try.
The process is fairly straight forward. Start by going to the Pivx website and downloading the wallet.
Once you get it get it running you’re going to have to download the blockchain. That will take some time depending on your connection speed.
Next you’re going to encrypt the wallet. That means setting a password. You’ll use the password to lock and unlock the wallet.
After that I would recommend backing up the wallet. I saved to the dat file to a couple safe locations.
Finally, you need to edit the configuration file. Don’t worry it’s easy.
Go to the tools tab and then ‘open wallet configuration.’ Open it up in notepad. Then enter in “staking=1” like in the picture below. Then close it, that's it.
Once that’s all done send your PIVX to the wallet. To stake make sure the wallet is unlocked and running. In other words, leave it open.
According to Pivx the stake reward rate is 4.8% right now.
I’ve been running mine for less than a week and have already minted twice.
This is worth checking out, especially if you’re holding PIVX on an exchange.
This one is in my peripheral view. I consider it a bit of a DASH proxy. Similar features without the baggage of DASH.
Exactly
sounds like it has potential
It has a Dash-like model, supposed to be more private, good team.
@g-dubs the 4.8% is monthly? You need to keep the computer opened all the time for the month? If closed, you loose all the stakes? Thanks for sharing. upvoted. @gold84
It's annual. They say the rule of thumb is for every 1000 PIVX you own you should get a reward every 30 days. But it's random so you could mint two days in a row and then none for two months. Once you mint some PIVX it's yours. You don't lose it if the wallet closes.
@g-dubs thanks for following up on this! Really appreciate your further explanation. @gold84
No problem... I've been making more than the 4.8% so far... maybe I'm just lucky? not sure. But check it out if you can.
I have 1 PIVX token in my wallet on my phone. I guess I will have to look into purchasing more in the future to stake........Speaking of Steak I think it is dinner time.
Lol I like that kind of steak too!
Really want to get into a staking coin. PIVX is on the top of the list right now.
I've been happy staking PiVX.
I have heard some good things about Pivx at bitcoin meetups so I think I'll look into this myself thanks for the share. Looks like Dash's potential but with a cheaper masternode of 30,000 USD like early dash
Supposedly more private than Dash as well. I've been staking and it's going well.
really nice post
Thanks!
I love staking platforms just gives another incentive to hold
Agreed and this is a good project too.
upvoted resteemit.
I got my wallet a couple months ago. PIVX is a crypto I definitely like.
Nice!