Tag Archives: wallet

Staking PIVX: Staking PIVX on HolyTransaction Wallet

pivx staking 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.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Staking GRC: Staking Gridcoin on HolyTransaction Wallet

gridcoin grc staking 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.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Staking BLK: Staking Blackcoin on HolyTransaction Wallet

blackcoin blk staking 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.

Satoshi

Staking PPC: Staking Peercoin on HolyTransaction Wallet

peercoin staking ppc 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.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Staking Coins with HolyTransaction Wallet: Earn Passive Income with Crypto

Peercoin Blackcoin Gridcoin PIvx Staking HolyTransaction Wallet

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.

Satoshi

Wallet Monero: how to store XMR

As of today, you can instantly purchase Monero on HolyTransaction, transfer them to any HolyTransaction’s customer for free, and do crypto-to-crypto swaps between your Wallet Monero and more than other 30 cryptocurrencies.

monero-howto

Monero (XMR) was released in April of 2014, it was originally called BitMonero and launched as a preannounced and fair launch of the CryptoNote reference code. Since its original launch, Monero has migrated the blockchain to another database structure, improving flexibility and efficiency. The developers also set minimum ring signature sizes to make all transactions private, and RingCT was added. Almost every improvement made so far has made Monero easier to use or enhanced its security and privacy. The cryptocurrency was founded by Riccardo Spagni alongside 6 other developers, 5 of whom have decided to remain anonymous till date, but more than 240 have contributed to the code.

All HolyTransaction customers can create a new address for XMR and use the simple HolyTransaction Web Wallet to send and receive transactions or to instantly convert them to any other cryptocurrency.

Just like with Bitcoin, you can:

  • Send XMR to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange XMR with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

To add Wallet Monero just click on the “plus” button you find at the top right of the balance page, once you successfully enter into your wallet.

You can find the “plus” button to select the wallets you want to see in the main page like shown in the picture below:

Add new cryptocurrency

We’re excited to be part of the XMR community!

NOTE: Our multicurrency wallet can store more than 30 cryptocurrencies, including: Bitcoin, Dash, Ethereum, Dogecoin, Litecoin, DecredZcash, Dai Stablecoin, DigixDao, Augur, 0x Project, Gamecredits, Enjin CoinBlackcoin, Gridcoin, Aidcoin, Peercoin, Syscoin, Groestlcoin, Power Ledger, BAT, BlockVPIVXTrueUSD, Cardano, STORJ and Monero among the others.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Welcome to the Universal Wallet, DAI Stablecoin.

If you thought about holding or exchanging DAI Stablecoin, now you can do so directly with your HolyTransaction Universal Wallet.

It’s now possible to add DAI wallet to your dashboard and use it to access and exchange 24 different crypto, instantly. This is just one of the many recent adoptions, which brought the number of cryptocurrencies accepted on our platform to 24.

Now you are free to store DAI on HolyTransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from and to DAI. All HolyTransaction customers can create a new address for their own DAI Wallet.

DAI Wallet features
Just like Bitcoin and all the other 23 digital currencies supported, you can now:

• Send DAI to any address, even to addresses of other crypto, with instant conversion on the fly;
• Receive transactions;
• Exchange DAI with any supported coins;
• Make instant transactions between HT users;
• Get real time exchange rates on the website;
• Set OTP for additional protection.

If you are not able to see your newest DAI Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.

About DAI:

DAI is a cryptocurrency that is price stabilized against the value of the U.S. Dollar. DAI is created by the Dai Stablecoin System, a decentralized platform that runs on the Ethereum blockchain.

With DAI, anyone, anywhere has the freedom to choose a money they can place their confidence in. A money that maintains its purchasing power.

MKR holders govern Dai

Maker is a decentralized autonomous organization on the Ethereum blockchain seeking to minimise the price volatility of its own stable token — the DAI — against the U.S. Dollar.

Maker smart contract platform controls and sells Dai. Indeed, decentralised and trustless, the Maker platform stabilises the value of Dai to one U.S. dollar using external market mechanisms and economic incentives. 

Eliminating the necessity to trust a centralised organisation and the hassle of third-party audits, Maker offers a transparent stablecoin system that is fully inspectable on the Ethereum blockchain.  

Maker’s Dual Coin System

The Maker Platform has two coins: Maker (MKR) and Dai (DAI).

Maker – A token with a volatile price that is used to govern the Maker Platform. Maker DAO is a decentralized autonomous organization within the Ethereum blockchain. Maker works to minimise the volatility of DAI, its stable token, compared to the U.S. dollar, with holders of MKR tokens governing DAI.

DAI – A price stable coin that is suitable for payments, savings, or collateral. With DAI, the team at MKR hopes to overcome the extremely volatile prices of cryptocurrency. The team at Maker DAO feels that stablecoins are necessary to let blockchain technology reach its full potential. Because of this, it introduced DAI, which is backed by ETH collateral.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack

Creativecoin Wallet: HolyTransaction adds CREA


Do you want to open a Creativecoin wallet?

You are in the right place, as we at HolyTransaction decided to add this cryptocurrency among the 17 crypto available on our multicurrency wallet.

So, from now on you can store Creativecoin on Holytransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from/to Creativecoin, and ten more cryptocurrency’s networks.

All HolyTransaction customers can create a new address for their own CREA Wallet and use the user-friendly HolyTransaction Wallet platform to send and receive transactions or to instantly convert them to any other cryptocurrency we currently support.

Creativecoin Wallet features

Just like Bitcoin and all the other supported digital currencies, you can now:

  • Send Creativecoin to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange Creativecoin with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

If you are not able to see your newest Creativecoin Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.

What is Creativecoin?

Creativechain has created its own coin called Creativecoin (CREA), the first cryptocurrency designed to meet the needs of all creative communities that produce and distribute digital content.

Creativechain is a decentralized platform for the registration and distribution of multimedia content that proves in an indelible way the authorship and license of any work or creation.

Imagine a social network of content exchange like Facebook, Spotify or Youtube totally decentralized, without managers or intermediaries, without censorship and with its own P2P system of electronic money based on its own cryptocurrency.

The technological innovative proposal of this platform also directly challenges the centralized power of traditional systems of copyright management entities.

The platform applies the power of attorney of blockchain technology to create incorruptible timestamps that certify the authorship of any digital work such as photos, videos, films, texts, electronic books, software or any digitizable file. Creativechain is presented as a public and transparent alternative of intellectual property registration according to the new times, in which there are so much cultural production circulating on the internet.

Blockchain technology opens up a universe of possibilities for the registration and distribution of intellectual property without intermediaries. The power of attorney along with the decentralized p2p distribution of digital content create a new paradigm shift in the era of digital culture.

So, do you want to open your CREA wallet? Click here.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

HolyTransaction adds Pivx to its wallet

Do you want to open a Pivx wallet?

You are in the right place, as we at HolyTransaction decided to add this cryptocurrency among the 16 crypto available on our multicurrency wallet.

So from now on, you can store Pivx on Holytransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from/to Pivx, and ten more cryptocurrency’s networks.

All HolyTransaction customers can create a new address for their own Pivx Wallet and use the user-friendly HolyTransaction Wallet platform to send and receive transactions or to instantly convert them to any other cryptocurrency we currently support.

Pivx Wallet features

Just like Bitcoin and all the other supported cryptocurrencies, you can now:

  • Send Pivx to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange Pivx with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

If you are not able to see your newest Pivx Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.

What is Pivx?

Pivx (PIVX) is the acronym for Private Instant Verifiable Transaction.

The main goal of PIVX is to achieve near instant private transactions and a governance that helps sustain the network for the benefit of all of the users involved.

PIVX is an open source, privacy-focused, Proof of Stake crypto-currency. PIVX utilizes Proof of Stake 3.0 and an innovative Seesaw reward mechanism that dynamically balances 90% of its block reward between Masternodes and Staking nodes with the remaining 10% used for budgeting. The budget and protocol are managed through a decentralized governance system.

So, do you want to open your Pivx wallet? Click here.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

UASF Bitcoin: a Crypto Guide for Beginners and not

Yesterday we published the image below on Facebook, related to UASF Bitcoin we support. But what does it mean?

uasf bitcoin

What is UASF Bitcoin?

UASF is an abbreviation that stands for User Activated Soft Fork.

It’s a mechanism for the activation of a soft fork that might occur on a specified time enforced by full nodes, a concept that is also called “economic majority”.

In the past years, a UASF was successfully developed to activate the P2SH soft fork (BIP16).

Instead, currently, the UASF is combined with the so-called SegWit activation in the BIP148 proposal you can read here: github.com/bitcoin/bips/blob/master/bip-0148.mediawiki.

What is a MASF?

MASF means Miner Activated Soft Fork. It’s a system by which miners can trigger the activation of a soft fork when a majority decides to execute an upgrade. This allows a faster activation of the soft fork, leaving full nodes to upgrade when they decide to do it.

This mechanism is a tradeoff because it puts trust in the hash power,  enforcing the new rules. Conversely, it can cause invalid chains. This was the case with BIP66.

What is BIP148?

BIP148 is a UASF designed to run the current SegWit MASF deployment in order to activate it in all the existing SegWit capable node software (80% + at this time).

From August 1st, 2017, miners have to signal their readiness for SegWit creating blocks with the version bit 1.

What is Segwit?

SegWit is an upgrade to the bitcoin blockchain that might be able to solve the so-called block size debate, by increasing the capacity of each block of the digital currency chain in order to allow more transactions in less time and with fewer fees to be executed and registered on the blockchain itself.

Right now, Bitcoin supports up to 2000 transactions per block in 10 minutes, but SegWit will be able to double this capacity up to 4000 transactions.

Read this infographic to know more about SegWit.

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio