SMARTCASH - How to Setup and Earn Smart Rewards - Why smart Rewards are better then Master Nodes - Step by Step Guide.
Hi Steemians,
Here is the last post i have written about smartcash around 20 days ago which was selected as smartcash weekly winner post on steemit and i simply got 210 SmartCash as reward/tip for single post and i want to thank team smartcash for this.
SMARTREWARDS
Today's topic is about SmartRewards that is offered to SmartCash holders for simply holding SmartCash in their wallet.
There are three simple rules if you want your wallet to be eligible for smart rewards.
Let's make thing simple here.
If you have more then 1000 SmartCash in your wallet before 25th of each month and you hold it till 25th of next month then you will be eligible for smart rewards.
As per current calculations smart rewards is around 5.2% per month.
It means for 1000 SmartCash the reward in 52 SmartCash.
HOW TO SETUP
Recently i have filled my smartcash account with 1000 to be eligible for smart rewards.
Here are the setups:
Because i used SBD as my base investment so the steps are as follow:
- Moved my SBD to bittrex account and exchanged it to bitcoin.
- I bought verge from bitcoins.
- Transferred Verge to my crypto-bridge account.
- Exchanged verge to Bitcoin.
- Exchange bitcoin to smartcash.
- Withdraw my smartcash to wallet.
Different wallets can be used but i use the online wallet.
The reason I took lengthy steps is because i want to make it handy for steemians who want to use SBD or Steem as their base currency.
Another reason why i don't want to transfer bitcoin directly because it will take a lot of time and fees and it's not a good idea for making small transactions.
Note: the above process incurred less then 1% fee and less then 10 minutes for complete conversion from SBD to smartcash wallet.
Here is how my account looks like and no further action is required.
Just hold these coins and that's it.
I will keep posting practical updates about Smartrewards on my steemit blog
SMARTREWARDS VS MASTERNODES
Now here is the most important part.
Why smart rewards are better then master node?
If you want to buy master nodes then you need a hosting platform and complicated setup while for smartreward nothing is required except the wallet and funds.
At time of writing this post smartcash is 0.32$ and 1000 smartcash are required for smartrewards which is around 320$.
While a master node of worthy token is not less then 5000$.
off-course you might get master nodes for less then 300$ but those coin are not even listed on coinmarketcap while smartcash is in top 100 as per trading volume which is always a worthy asset.
For master nodes you need xx number of coins for example 10000 coin and you will be rewarded for complete node no matter how long you are going to hold it.
In smart Rewards for example: you will be rewarded 52 coins for holding 1000 smartcash and next month you will be rewarded 54.7 coins for holding 1052 coins including your last month reward and this is called the compounding. Power of compounding is the most unique point in any investment model.
Give it a try and as the market is strongly bearish This is the best time to buy anything you want
Thanks for Reading
Get rewarded in smartcash as content creator
Crowd Funded Mining Rig project by @uxair
I took the SBD-DOGE-SMART route back when cryptopia still had it's doge/smart pair!!
yup. this is probably more quick option.
However the basic strategy is same, to eliminate bitcoin transfer and avoid high fees.
Yep BTC transfer fees makes small purchases extremely unprofitable.
as far as I understand it this is wrong...
you get rewards for 1000 smart if put into a wallet before the 25th
but if you put 1000 or 1500 or 1999 you will only get 5,2% (currently)on 1000
So the staking goes in blocks of 1000
The added value of the nodes is that they both give staking rewards and node rewards so you can add those up but they are the same principle: a node required 10000 smartcash but having 15436 smartcash in there will not make you get more revenue from the node (it will from staking)
This is still confusing for me so i added more then 1000 smart to my wallet in order to see how it works?
If staking is in block of 1000 smart then why there is the calculator on smartcash website that allow us to change value of smartcash we hold for smart rewards.
Have you got any smart rewards? If yes then please share some details with us.
I have been reading up on smart for months and have written some posts about it as well, also on my journey to get my first smartcash and be able to buy it
I am now staking in my wallet and am expecting my first rewards for this wallet
SkJbUr35DMN7iLLkRDdAHPc7HKui4qw5Sn
this one is now holding 10007 smartcash but out of those only 4000 is staking at the moment
So on the 25th I should be getting 4x 6%(ish) 240 steem
If I would leave it then I would get rewarded next month for 10000 steem and not for 10247
The sad thing is that if you remove coins that are between the multiples of 1000 you will not get any rewards.
You are allowed to add to a wallet but not withdraw as that cancels out your staking
I am here appealing to @hannahlicious and @smartcash or @hedge-x to correct me here (or any other smartcash pro) @lukestokes also wrote some good articles
another thing I forgot to mention
why not just take them to BTS since you have a cryptobridge wallet?
I have been buying my smart with bitshares
steps:
less time and less fees
yes sir.
I watched this SBD-BTS-SMART method earlier but BTS/SMART trading volume is too low on cryptobridge. And the spread is as high as 20%.
Also the trading volume is low so market order may take hours to fill.
well if you are not in a hurry (near to the 25th of the month) then it does not really matter right but you are correct about the spread being huge but that also allows to snap up some at a rate cheaper then the current market sometimes
Ok. Thanks for sharing BTS method. It's noted and I will keep close eye on spread if I m able to get thin spread I will execute a transaction.
@uxair - excellent post, very informative about smartcash rewards. I learned more from your post about SmartCash than any other single post I've seen about the topic! Steemit has a learning curve & SmartCash also has a learning curve- you helped move me along the curve quickly. Keep up the good work. Upvoted this post!
This post has received a 0.13 % upvote from @speedvoter thanks to: @uxair.
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@smartbot tip @uxair 10
Σ$$$ Tipped @uxair
Σ10 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.247 USDperSMART. Current value of the tip is$2.47 USD. To find out more about SmartCash, please visit https://smartcash.cc.It must cost you a lot in charges. You could transfer Bitcoins directly to cryptobridge. i do that from Bittrex its actually very quick.
It's good idea but if you are doing big transaction only. For example if you want to send 0.01 BTC then bittrex withdrawal fee is 0.001 which is huge enough.
But if you want to transfer 10 BTC then 0.001 is a fair deal.
From steemit to blocktrades to CryptoBrigde, SBD > LTC > SMART.