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How to setup wallet for staking

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CrypToExpress
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How to setup wallet for staking

Post by CrypToExpress » Thu Nov 08, 2018 3:19 am

This article is step by step guide on how to start staking using GPTCash's Windows Hardware Wallet, it's also applicable in any other Qt wallet.

I. Open you GPTCash hardware wallet and check if it's fully synced.
Image

II. Encrypt Wallet
Go to settings >> Click Encrypt Wallet
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Fill up your desire wallet passphrase and click "OK" when your done.
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after the passphrase have been set, Qt will require to restart.

III. Activate Staking

Go to Settings>>> Click "Unlock Wallet"
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Unlock wallet make sure that "For staking only" is checked.
Image


Check the status in the image.
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Coin Specification
Algorithm: Proof of Stake
Total Supply: 100,000,000
Premine Supply: 40,000,000 (40%)
POS Rewards: 10% Annually
Minimum Stake Age: 8 Hours
Maximum Stake Age: Unlimited

This article is also published here: https://steemit.com/airdrop/@eiijee13/g ... ash-wallet

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Re: HOW TO SET-UP WALLET FOR STAKING

Post by ATrsh29 » Thu Nov 08, 2018 2:33 pm

I also use coin control to get more stakes. Sending my coins to my own address. Does anyone try this tricks?

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Re: HOW TO SET-UP WALLET FOR STAKING

Post by diprainx » Thu Nov 08, 2018 2:55 pm

Nice tutorial more of this for other important things. Thanks

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Simpson
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Re: HOW TO SET-UP WALLET FOR STAKING

Post by Simpson » Thu Nov 08, 2018 2:58 pm

Thank you for this tutorial. Pretty straight forward ! Let's get the stake going !

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cryptoman
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Re: HOW TO SET-UP WALLET FOR STAKING

Post by cryptoman » Thu Nov 08, 2018 11:36 pm

ATrsh29 wrote:
Thu Nov 08, 2018 2:33 pm
I also use coin control to get more stakes. Sending my coins to my own address. Does anyone try this tricks?
How do that work, each time you send you coin or you coinblock get a steak your coin have a cool down periode.

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Re: HOW TO SET-UP WALLET FOR STAKING

Post by maveryck » Fri Nov 09, 2018 9:34 pm

cryptoman wrote:
Thu Nov 08, 2018 11:36 pm
ATrsh29 wrote:
Thu Nov 08, 2018 2:33 pm
I also use coin control to get more stakes. Sending my coins to my own address. Does anyone try this tricks?
How do that work, each time you send you coin or you coinblock get a steak your coin have a cool down periode.
Just use coin control and let the wallet splits the coins automatically. It's a good way to optimize your staking.

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Forlorne
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Re: How to setup wallet for staking

Post by Forlorne » Sat Nov 10, 2018 6:32 am

Oh yea, thanks bud im sure this will help our new folks. Staking this coin is great. Reward frequency is nice even tho net is just 10%.

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jfski143
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Re: How to setup wallet for staking

Post by jfski143 » Sat Nov 10, 2018 6:57 am

Forlorne wrote:
Sat Nov 10, 2018 6:32 am
Oh yea, thanks bud im sure this will help our new folks. Staking this coin is great. Reward frequency is nice even tho net is just 10%.
I think 10% is already big enough if we will compare it to annual interest (stake) time deposit on regular banks. This is actually one of the big difference between cyptocurrency and fiat. Making profit usually higher on crypto, even if you just keep/stake your coins and that's a fact :)
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Forlorne
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Re: How to setup wallet for staking

Post by Forlorne » Sat Nov 10, 2018 9:24 am

jfski143 wrote:
Sat Nov 10, 2018 6:57 am
Forlorne wrote:
Sat Nov 10, 2018 6:32 am
Oh yea, thanks bud im sure this will help our new folks. Staking this coin is great. Reward frequency is nice even tho net is just 10%.
I think 10% is already big enough if we will compare it to annual interest (stake) time deposit on regular banks. This is actually one of the big difference between cyptocurrency and fiat. Making profit usually higher on crypto, even if you just keep/stake your coins and that's a fact :)
Yea I do agree with all that. My point is not really that 10% is too low:)

Compared to some other 10% coins this has nice reward frequency (lots of small rewards per day rather than one or 2 big ones) making it more flexible for "non-24/7" stakers like myself!

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Re: How to setup wallet for staking

Post by 623384987 » Sat Nov 10, 2018 7:06 pm

thanks so much. :roll: :roll: :roll:

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