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1What is staking coins?
Put simply, staking is holding funds in a cryptocurrency wallet to maintain a blockchain network’s operations.
2How to participate in CEX.IO staking?
To start participating in staking, you just need to buy supported staking crypto on CEX.IO or deposit it to your CEX.IO account. Your staking reward will be added to your balance automatically. No additional actions are required.
3Can I trade while staking?
Yes, you can trade your Proof of Stake coins. Your reward will be calculated as long as these coins sit in your CEX.IO account, even if you place an order. However, once your order is fulfilled, the amount of staked coins will change, and your rewards will change accordingly.
4What is Proof of Stake?
Proof of Stake (PoS) is a consensus mechanism. Unlike Proof of Work, in which miners solve equations to mine coins, with PoS validators “stake” coins in exchange for the right to validate blocks on a network. After new blocks are produced, the validators receive a reward. The advantage of PoS consensus is that it requires less computing power to mine coins and also gives PoS validators another source of income.
5How does CEX.IO calculate and send rewards?
Rewards are calculated every hour and are sent to your account once a month. In the future, we’ll work on increasing the frequency of payouts. If you hold coins less than a month, your reward will still be calculated for the period you held the coins in question.