🤝Staking Pools

Staking is holding cryptocurrency in a wallet for a period of time to support blockchain operations.

What are Staking Pools?

• Purpose: Groups of users combine their crypto holdings to increase their chances of validating transactions and earning rewards.

• Benefit: Even those with a smaller amount of cryptocurrency can participate and earn rewards.

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How to Get Started with Staking

Available Tokens: KoinBay offers staking for KBT and USDT.

1. Choose Staking Product:

   • Navigate to the Staking page.

   • Select the asset and lock period.

   • Review the estimated APY, lock period, and minimum amount.

   • Note that staked assets will be locked and cannot be withdrawn or transacted with during the staking period.

2. Subscribe:

   • Enter the amount you want to stake.

   • Confirm by clicking 'Agree to PoS'.

   • Interest starts accumulating from 00:00 (UTC) of the following day.

   • Rewards are distributed weekly to your Fiat and Spot Wallet.

3. Tracking:

   • Check 'Pending', 'Processing', and 'Finished' staking operations.

   • View staking history under 'Staking Report' or 'Financial Account'.

What is Locked Staking?

• Process: Locking digital assets on a Proof of Stake blockchain.

• Rewards: Earn staking rewards for contributing to the network.

• Ease of Use: KoinBay handles the technical requirements.

Rewards and Redemption

• Accrual of Rewards: Interest begins from the start date and is distributed daily.

• Redemption:

  • Assets are redeemed after the staking period.

  • Unlocking takes about 48-72 hours due to time zone differences.

  • Principal withdrawal is only possible on the release date, but interest can be withdrawn anytime.