Staking PIVX: Staking PIVX on HolyTransaction Wallet
Staking Coins: Staking PIVX
PIVX is a privacy-focused cryptocurrency that stands for “Private Instant Verified Transaction“. It is a fork of another cryptocurrency, Dash. Like Dash, PIVX is also used proof of stake for consensus. This means that there are opportunities for earning PIVX just by owning PIVX. This contribution to the network helps fund the verification of transactions and the creation of new PIVX coins. You can think of this as earning interest on your coin or as a dividend on your investment.
Stake PIVX on HolyTransaction Wallet
HolyTransaction.com is excited to present to you the launch of our new staking service. You can now leverage Proof of Stake (POS) holdings to safeguard crypto networks while earning financial rewards. Staking PIVX has become much easier with HolyTransaction!
How to Stake PIVX
The first step is to register on HolyTransaction.com to get your PIVX web wallet. The official PIVX wallet is available for Windows, macOS, as well as Linux. Android and iOS versions are also available, but these versions do not yet include staking functionality.
After accessing the HolyTransaction wallet, you must wait for your PIVX deposit to reach the minimum number of confirmations for the synchronization to finish. If you move your PIVX in staking before the next rewards distribution is done, your wallet will receive less rewards according to the mininum PIVX held in that time frame.
Once the PIVX address on Holtransaction has received the transaction, you will start staking yourself some PIVX. Your coins must have at least 101 confirmations. These coins are referred to as mintable coins. The number of confirmations on your transaction can be viewed in the history of your account. Once your coins are mintable, you will then be able to stake them and start receiving POS rewards, you can see your rewards in History -> Distributions. Staking can sometimes take as long as 24h to begin once all the prerequisites are met. If staking does not begin after some days, you should wait until you start minting blocks in your wallet.
Risks and Benefits of Staking PIVX
The more PIVX you stake, the more rewards you get. If you have over 10,000 PIVX, this qualifies you as a masternode. This allows you some say in how the PIVX network operates and also qualifies you to receive additional rewards. Masternodes can earn up to 10% of their stake.
You can stake your coin without being online 24/7, but you will not be eligible for staking rewards while your system is offline. Unlike some other proof of stake coins, PIVX does not consider the age of the coins or the amount of time they have been staked. PIVX only considers is your PIVX balance.
Conclusion
HolyTransaction staking wallet makes it much more user-friendly to stake your POS cryptocurrencies. PIVX has great passive income potential, especially for those who hold over 1000 PIVX, this designation greatly increases the rewards you receive. To begin staking PIVX start by depositing your coins in your HolyTransaction Wallet.
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Staking GRC: Staking Gridcoin on HolyTransaction Wallet
Staking Coins: Staking Gridcoin
Gridcoin is a cryptocurrency with ambitions of advancing scientific research. It was originally a simple hybrid of proof of work and proof of stake but now has developed its own custom mechanism blending elements of the two. New coins are created using Proof of Stake, but the number of new coins created depends on how much processing power was used for BOINC.
Stake Gridcoin on HolyTransaction Wallet
HolyTransaction Wallet is excited to present to you the launch of our new staking service. You can now leverage Proof of Stake (POS) holdings to safeguard crypto networks while earning financial rewards. Staking GRC has become much easier with HolyTransaction!
Rewarding citizen science on top of Proof of Stake
According to the PoR mechanism, If a node contributing its hash power to a project that has been whitelisted on the Berkeley Open Infrastructure of Network Computing (BOINC), that node will receive GRC coins corresponding proportionally with the amount of the work done by the node. The BOINC list contains projects of scientific importance that require a supercomputer but don’t have access to one. Of these projects, Gridcoin users vote on a subset of them to be whitelisted for contributions of computing power. Gridcoin, therefore, gives people all over the world the ability to contribute computing power to any of these projects and contribute to scientific research. You can also generate income by running Gridcoin in what the Gridcoin project calls “investor-only mode.”
Investor-Only Mode
Investor-only mode is what the Gridcoin project calls it when you setup earns proof of stake interest as opposed to the DPOR (proof of research) payments that “crunchers”—those who contribute computing power receive. You will only need to install the Gridcoin client and will not need the BOINC client.
Setting up the Client for PoS Rewards
The first step to setting up a Gridcoin client for investor-only mode is to install the Gridcoin Research client. The client is available for Windows, macOS, and several flavors of Linux including Debian, Arch Linux, OpenSUSE, and Fedora. Once the client has been installed, you will want to sync with the Gridcoin blockchain. This can take between several hours to a couple of days, depending on your internet speed. A green check on the connection bar indicates that the synchronization is complete. At that point, you can unlock your wallet for “staking only.” It can take up to 16 hours for the staking to begin. Running the Gridcoin client at all times maximizes your potential for income. Anytime the client is offline, you could miss an opportunity to mint a block.
The higher the balance you have, the higher the chances that you will get to “stake” a block. This is only a result of the fact that a higher balance gives you more chance to mint Pos blocks and thus you get a payout more often. While you can theoretically stake with any number of coins, you can only reliably stake with at least 2000 coins and the Gridcoin project itself recommends at least 5,000. The miners who contribute computing power to these projects come in two varieties—solo and pool. Pool miners earn research rewards whether they stake or not, but solo miners must stake in order to get paid.
Conclusion
Gridcoin provides a way to contribute to important scientific research and earn passive income while doing so. Even those who only stake coins and don’t provide actual computing power to these projects contribute by securing the network and helping the Gridcoin ecosystem. All you need to start staking Gridcoin is to deposit GRC in your HolyTransaction account.
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Staking BLK: Staking Blackcoin on HolyTransaction Wallet
Staking Coins: Staking Blackcoin
Introduction
Blackcoin is a proof of stake-based coin. Blackcoin actually started out in life as a proof of work cryptocurrency but became a proof of stake coin after the 10,000th block was mined. Blackcoin claims in its whitepaper that it was the first cryptocurrency to use a pure proof-of-stake-based protocol on Bitcoin code. Blackcoin provides many of the same features as other cryptocurrencies, including decentralization and a high degree of transparency. It also offers great opportunities for passive income for staking your coins.
Stake Blackcoin on HolyTransaction Wallet
HolyTransaction Wallet is excited to present to you the launch of our new staking service. You can now leverage Proof of Stake (POS) holdings to safeguard crypto networks while earning financial rewards. Staking BLK has become much easier with HolyTransaction!
How to Stake Blackcoin
The process of staking is initiated by not moving your BLK for at least a period of 8 hours while keeping your node syncronized with the Blackcoin network. Your earnings are proportional to the number of coins that you have—the more coins you have, the more you earn. The amount of time you keep your wallet open for staking also has an effect on your block rewards.
Risks and Benefits of Staking Blackcoin
Blackcoin has improved its block time from 60 to 64 seconds. Blackcoin had previously used the scrypt protocol for its hashing algorithm, but this was changed to SHA256d. Blackcoin’s reliance on proof of stake gives it an edge in performance over many proof of work cryptocurrencies. When it comes to retail applications, where transactions cannot take an hour to fully confirm as with Bitcoin, proof of stake cryptocurrencies like Blackcoin are better suited for this role.
Conclusion
Staking your Blackcoin will earn you a reward of between 1% and 8% of the total amount of coins held in your wallet for one year. You just need to deposit BLK in your HolyTransaction account. Wait for 24h to start staking Blackcoin and visit History -> Distributions to see your POS rewards.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Staking PPC: Staking Peercoin on HolyTransaction Wallet
Staking Coins: Staking Peercoin
Bitcoin and many other early cryptocurrencies use a consensus model known as proof of work. This requires powerful computers to perform cryptographic problems that verify transactions on a blockchain. Peercoin originated an alternative to this that is used in many cryptocurrencies.
Proof of Stake Originator
Peercoin introduced the concept of proof of stake, an alternative to the proof of work consensus model. In its initial stages, proof of work played a large part in the consensus model since it was a fork of Bitcoin. But the original proof of work-dominated model has almost fully given way to proof of stake. This is more environmentally friendly, removes the need for purchasing expensive mining equipment and allows transactions to be performed a lot more quickly than on proof of work blockchains.
Stake Peercoin on HolyTransaction Wallet
HolyTransaction Wallet is excited to present to you the launch of our new staking service. You can now leverage Proof of Stake (POS) holdings to safeguard crypto networks while earning financial rewards. Staking PPC has become much easier with HolyTransaction!
How Does Coin Staking in Peercoin Work?
This act of generating a new block is called minting, however staking is a more popular term today. In Peercoin’s implementation of proof of stake, each node tries to find a new block each second. If the block is valid and backed by sufficient coinage (coins*days), it is accepted by the network. Nodes are only eligible to find new blocks when their coins have been in a wallet for 30 days. Their odds of finding valid blocks go up with the age of the coin until it reaches 90 days, at which point the probability is maxed out. Once a node finds a new block, new PPC are then minted and, for each new block, that node gets a block minting reward. After a new block has been minted, the age of the coins in the node’s address that are involved in the minting is reset. The address will then not be eligible to be chosen based on those particular coins until 30 days have passed. Staking your Peercoin assets does lock them up from being spent or moved. However, you can sell or spend the PPC at any time—you will just lose the opportunity to mint new blocks.
Advantages of Staking Coins with Peercoin
Why stake Peercoin and not other cryptocurrencies? The return on staking is lower with Peercoin than with most other proof of stake cryptocurrencies. Vast majority of economic studies shows that ideal inflation is 2-3%. However, Peercoin is serious about keeping inflation low, currently at 3.33%. Peercoin’s reliance on proof of stake means that it should not suffer from the same scalability problems that have plagued proof of work platforms like Bitcoin. This means quicker transaction times and an overall better experience for retail and vending applications—which means great potential for the coin’s success in the future. You can learn more about its ecosystem in the Peercoin Primer video series.
Conclusion
Peercoin was the originator of proof of stake in its whitepaper, even though it took some time for proof of stake to actually make its way into widespread use on the blockchain. Staking Peercoin and its minting process presents a great opportunity to earn coin that will, in turn, earn you more coin. All you need is just to deposit PPC to start staking on your HolyTransaction wallet.
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Staking Coins with HolyTransaction Wallet: Earn Passive Income with Crypto
Staking Coins: Earn Passive Income with Crypto
You might be familiar with mining in cryptocurrencies like Bitcoin, where expensive energy-intensive equipment works to generate blocks. However, there is an alternative to this model that doesn’t require the massive energy costs of mining or equipment. Staking coins can generate passive income without such headaches. Some examples of coins which rely on proof of stake include Peercoin, Blackcoin, Gridcoin and Pivx.
Stake Peercoin, Blackcoin, Gridcoin, and PIVX in HolyTransaction Wallet
HolyTransaction is excited to present to you the launch of our new staking service. You can now leverage Proof of Stake (POS) holdings to safeguard crypto networks while earning financial rewards. Staking PPC, BLK, GRC, and PIVX has become much easier with HolyTransaction! Starting the 1st of September 2020 customers with balances in those cryptocurrencies will begin to receive their rewards distributions.
Key Advantages to Staking with HolyTransaction:
- Start obtaining distributions instantly, you just need to deposit
- Payouts every 24h
- Exit easily from your staking position by transferring your coins out of your HolyTransaction Wallet
HolyTransaction Staking Wallet lets you not only stake coins, but also trade them, buy new ones, or sell the ones you have for fiat.
This makes it rather easy to exchange your rewards earned through staking, withdraw the money, and use it in the real world.
Of course, you can always just keep it and increase the amount you have for staking, which will help you earn more in the long-term.
How does Staking Coins Work?
In contrast to the proof-of-work consensus mechanism that Bitcoin uses, some cryptocurrencies use an alternative model for consensus called proof-of-stake. So instead of miners creating new coins and verifying transactions as in the proof-of-work model, you have what are called forgers creating new coins and performing verification of transactions in the proof-of-stake model. These forgers are chosen in a variety of ways from a pool of coin holders who have staked their coins. The selection criteria vary depending on the cryptocurrency, but the most typical ways are a random selection or how long the coin holder has held the coin. When a forger gets chosen, they can then create new blocks and verify transactions.
Risks and Benefits of Staking Coins
The most immediate benefit of staking coins is that you earn income for doing so. In comparison with proof of work schemes, proof of stake removes the need for expensive equipment to perform all the proofs of work that validate transactions. Such equipment that is used to mine coins on a proof of work blockchain would often soon depreciate as more advanced hardware came out. Staking your coins does not come with this problem. Blockchains which used proof of stake for consensus are greener as they do not require the massive amounts of electrical resources to perform the calculations needed by proof of work schemes. Finally, it is simply just fairer for users who have invested in the cryptocurrency to reap the benefits of verifying transactions on its network.
The only real drawback to staking coins is that the coins can be unavailable while they are staked. This isn’t an issue when the coin is gaining value, but if the coin loses value you can be locked in for the ride. Some cryptocurrencies allow you to stake your coins even if they are in a cold (or offline) wallet. This means that the coins are not connected to the internet at all times. This is more secure, however, some coins require that your coins must be in a hot wallet, which is a wallet that is always connected to the Internet.
Conclusion
Staking coins is a great way to earn passive income, avoiding the exorbitant cost of the hardware required for mining, which quickly becomes obsolete. Staking coins is more environmentally friendly as it does not rely on the massive amounts of electricity needed to power mining rigs. Instead of rewarding those who invest in the expensive hardware needed to verify transactions, cryptocurrency projects which rely on proof of stake reward those who invest in the coins themselves. This results in a fairer system where anyone can earn passive income. HolyTransaction is a very user-friendly wallet all you need is just to deposit for staking to commence.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
HolyTransaction Successfully Completes Cardano’s Shelley Upgrade
Sending and receiving ADA with Cardano‘s Byron and Shelley-era addresses is available on HolyTransaction now.
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How Cryptocurrency is Paving the Future for Hedge Funds
We all know how cryptocurrency rose to power and the impact it’s having on the world, but now it’s confirming its place as a form of finance that is used and accepted around the world, it’s time to look to the future, in particular, hedge funds.
Have you ever thought about how cryptocurrencies are effective hedge funds, and how many believe that cryptocurrencies are, in fact, the future of hedge funds? Well, the future is now. Crypto hedge funds are already popping up here and there, and while 150 exist at the time of writing, there are many more on their way.
In fact, many believe that this number could double, if not triple, over the coming year. While it’s clear the venture capital industry is changing as we know it, today we’re going to share what we already know, and what we can expect in the coming years.
It’s Far from Ready
By many estimates, there are over 15,000 hedge funds around the world, 150 cryptocurrency hedge funds don’t seem like a lot. Even if you triple this number to 450, that still such a small percentage of the total hedge funds count, so why is this such a big deal?
The truth is, the industry is still growing and finding its feet, which means once it’s able to stand up for itself, so to speak, then it will really start to take up. At the moment, it’s still in its crawling days.
Rough estimates state that the hedge fund industry is worth around $3 trillion, whereas the amount of money going to cryptocurrencies is only around $3 billion. I know these are still huge sums of money, but on the grand scale of things, it’s tiny. However, this is predicted to change over the next 12 months.
This is because cryptocurrency values and estimates are still way too high, and many cryptocurrencies are way too volatile, which means investors are being cautious around them. Additionally, with so much competition in the industry, it’s hard for investors to know what to focus on, and what investment opportunities are worth the risk.
Many people still see investing in cryptocurrency as gambling, and it’s true, there’s still a huge factor in investing it. However, if the rate of integration of cryptocurrency into the mainstream continues as well as it is already, this shouldn’t continue to be a problem over the next few years.
When you consider that the top 35 cryptocurrencies are valued at over $1 billion, so it’s not going to be ignored any time soon.
Technology is Evolving
Of course, blockchain technology is responsible for making cryptocurrency work in the way it does, but it’s important to note that this technology is still evolving. There’s no denying that the technologies and services are still being invested in, but it’s a long way off being where it needs to be, although this is changing rapidly, and the hedge funds markets are reflecting this.
The more success that comes from the technology, the more it will be developed, and the more funds it will have invested in it, and therefore the faster it will evolve. This will be represented by a rapidly spiking curve over time and will happen fast.
The Tides are Changing
Look at the market, and what do you see? There’s no denying that cryptocurrency is the way that the market is going to go. After all, millennials are already ‘unbanking’ and moving their money in cryptocurrency deposits, rather than traditional banking systems and networks.
Traditional banking systems are noticing this and now, of course, have to consider cryptocurrencies in their banking strategies, and will continue to do so over the coming years. From an investor’s point of view, it’s important to start looking at these strategies and at how cryptocurrencies can be incorporated into their investment strategies.
If you don’t already have a cryptocurrency investment strategy existing, this is something you need to think about because you’re going to be left behind.
Although investors with cryptocurrency strategies are already ahead of the curve, the tides are changing fast, and you don’t want to be left behind and without a strategy when cryptocurrencies play such an integral role in the markets.
Michael Dehoyos is an economic consultant and editor at Coursework Writing Services. He assists companies in their marketing strategy concepts, and contributes to numerous sites and publications, as well as offering investment advice.
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HolyTransaction supports five new crypto assets
HolyTransaction has added five new crypto assets to the platform: USDC, MANA, ENG, ANT, and LINK.
USD Coin (USDC) is a fully collateralized US dollar stablecoin. It is an Ethereum powered coin and is the brainchild of CENTRE,
Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain. In this virtual world, users purchase plots of land that they can later navigate, build upon, and monetize. Decentraland uses two tokens: MANA and LAND.
Enigma (ENG) is a crypto platform that’s trying to solve the problem of privacy on the blockchain by giving access to data storage and privacy while remaining scalable. Enigma aims to extend Ethereum Smart Contracts by introducing secret contracts.
Aragon (ANT) is a decentralized platform built on the Ethereum network that offers a modularized way to create and manage dApps, cryptoprotocols, and decentralized autonomous organizations (DAO). The ANT ERC-20 token will enable its holders to govern the Aragon Network.
Chainlink (LINK) connects decentralized peer-to-peer networks and smart contracts to real-world data, events, and payments. Since blockchains cannot access data outside their network, oracles (a defi instrument) are needed to function as data feeds in smart contracts.
To create your web wallet you don’t need to have a bank account, so you can set it up in just one minute.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
HolyTransaction supports GAME Token Swap
GAME has been upgraded from a Proof-of-Work blockchain to an ERC20 Ethereum token.
Game Credits users will retain the balance of their GAME addresses, which have been migrated to an Ethereum ERC20 token with the GAME ticker symbol. Balance totals for HolyTransaction GAME users will reflect the same GAME total that they had prior to the GAME Token Swap.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
95% of Cryptocurrency Volumes is Fake
If you have been trading on a cryptocurrency exchange, you might have noticed how these platforms work. Buyers and sellers come together to exchange their favourite coins, in hopes of making a profit. The total volume of those transactions determines the popularity of an exchange, as well as the liquidity of cryptocurrencies.
For the longest time, the public used reported daily volumes of exchanges to determine the quality of an exchange and, as an extension of that, the best option to exchange cryptos quickly.
However, one strange thing started to happen as cryptocurrencies became more popular. The exchanges with the highest volumes were relatively unheard of and, in some cases, completely unknown.
This confused many market participants. How can an exchange with only 2000 Facebook fans and a quiet Telegram group have 3x more volume than Bitfinex?
And how can those same exchanges not create any liquidity for new coins, even though they report such massive numbers?
Long and behold, Bitwise launched an investigation to explore the causes of this issue. A short while later, in a 104-pager, they shared their findings with the world.
Most reported volumes are fake
According to the research performed, many cryptocurrency exchanges were artificially inflating their reported volumes. In fact, the numbers were so highly inflated that it is assumed that about 95% of the total volume is actually non-existent.
Why does this happen? Well, according to the same paper, it happens in order to increase the exchanges’ market position and make more profit on new coin listings. This, of course, makes it hard for new market participants to trust exchanges.
The logical thing to do then, is find platforms that you can actually trust. Exchanges that report real volumes, coherent with the activity of their users.
Paybis has created a helpful infographic to help you understand which platforms you can actually trust. Check the following infographic to better understand the findings of Bitwise.
As you may have imagined, the news was unpleasant for most crypto-enthusiasts. In fact, the community demanded answers from CoinMarketCap. The company that got recently acquired by Binance tackled this issue by introducing a Liquidity metric. Based on this, users are better able to distinguish between honest and “scammy” exchange platforms.
After its acquisition by Binance, the Reported Volumes metric also got a pleasant refresh. Volumes now look a lot more realistic and in line with the actual volumes being made on a daily basis.
Where do we go from here?
Cryptocurrencies, as a market, are still in their infancy. Thankfully, as the space keeps improving, so do the metrics of data collection. As such, it is expected the following year will completely eliminate irrelevant platforms that offer now value to the space.
Moreover, many new FIAT on-ramps for different countries are appearing on the market. We expect that this effort will continue and, eventually, increase the standard of requirements for the proper operation of exchange platforms.
By all means, the cryptocurrency space looks massively different than what it did two years ago. And with companies like Bitwise analyzing the market and helping its growth, we are more than confident about the next 2-5 years.
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