Smartrewards with Smartcash rule to remember!

in #smartcash7 years ago

So some of my followers are aware that I try to promote smartcash a ton! Well just in case some of you actually have 1,000 SMARTS or more there are a few key rules to remember in order to earn smartrewards.

  1. The 1,000 SMARTS has to be in an official smarts wallet. Not an exchange.

  2. The coins have to be held at least 30 days before the 25th of a month. Example if you put your 1,000 SMARTS on the 10th of the month you will have to wait for the following month's 25th in order to count towards your earning. The next next month, 3 months out, would actually be your first month to receive earnings.

  3. The SMARTS in the wallet must remain over 1,000 and no withdraws allowed. If you withdraw any amount the clock toward the 25th of the month resets. You can deposit SMARTS and not affect the days but can not move coins out.

Three is a big one a lot of people may not be aware of. I wasn't until I read into it in discord and smartcash forum. So for instance even if you have over 1,000 SMARTS and you withdraw some and remaining balance is still over 1,000 your ability to earn SMARTS will reset! Users are recommending to have two wallets one for daily withdrawl while another is to store and earn SMARTS.

Now speaking of which I still can not withdraw my SMARTs from Hitbtc. I am weighting on two options here, one hold out and wait it out until Hitbtc completes the SMARTS wallet upgrade. Or two trade out of Hitbtc all together and move my assets into another exchange and trade for SMARTS that will allow me to withdraw. I am leaning toward the latter. Will keep you guys posted.

Follow Smartcash's official twitter feed https://twitter.com/scashofficial

The Smartcash official slack https://smartcashinvite.herokuapp.com/

Read more on Smartcash official website https://smartcash.cc/

Smartcash Official Wallet https://smartcash.cc/wallets/

Where to buy Smartcash
stocks.exchange https://stocks.exchange/trade/SMART/BTC
coinexchange https://www.coinexchange.io/market/SMART/BTC
cryptopia https://www.cryptopia.co.nz/Exchange?market=SMART_BTC
hitbtc https://hitbtc.com/SMART-to-BTC
masternodexchange https://masternodexchange.com/markets/smartbtc

Thanks for reading!

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I am late to the game on this so please be gentle if you have answered this question. If I were to stake 1000 SMARTS, what is the expected return on that 1000 SMARTS?

Very good question: https://smartcash.cc/what-are-smartrewards/#toggle-id-1

It is 15% of the block reward allocation. The calculator from link above is posting next payout to be ~55.8 SMARTS. Remember you do nothing after you put in this amount into the wallet and it will continue to earn. Thanks.

Follow question. I have never had a currency that stakes so I wanted to ask you. Once I install the wallet on my computer and sync it to the blockchain as well as complete the 1000 coin transaction, do I have to keep the wallet and computer running all the time for the coins to stake or sync my transaction and then just put my computer to sleep and use it normally? Might be a dumb question, but I am curious how the staking process works versus mining.

There are many different types of staking. The type of staking you are thinking of I am not in favor of. Where you keep your computer running with wallet open. Navcoin is an example of that. I can never remember if my computer is on idle or off and it so old even the power on light is off when the computer is on. lol.

FYI the two known ways of mining coins are proof of work and proof of stake. The first cryptos are proof of work which is basically mining. BTC, ETH, and LTC we all know. Then there is proof of stake. Where you basically earn more based on how much of that coin you have. If you do a search on "altcoinmarathon" on steemit, I complied some of the coins that I looked at that are proof of stake ones. Its pretty cool as some you need to vote for delegates to earn such as steem, ark, lisk, and bitshare. Don't take my word for it look into them yourself. I am as new at this as much as you are. I just babble more.

SMARTS is literally once you put it in the wallet you can forget about it. It will always collect more SMARTS every 25th of the month even if you leave it alone without opening or looking at it. Computer can be off and wallet closed. Is that insanely cool or what. Truly one of the safest way to earn passive income.

Thank you for the follow up information. I wanted to get into a couple POS coins but I was unsure of what the process was for them. I am ever so slowly dipping my toe into the crypto pool.

Slow and steady is always the best. I been through parts were I made a bad investment and lost a bit of crypto. Lessons learned and move on but it is always good to double check everything. The time it takes us to save the little btc is difficult enough that we should also spend some time studying on what to invest before we invest. Thanks.

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