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inigthz

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Posts: 154
Location: Indonesia

Hi,

I want ask about Proof of stake coin.

1) Does exchanger staking our coins in their wallet?? And, if yes. Why the result from staking not added to 'our'??

*Will ask another questions soon..

Thanks.

Posted on November 18, 2014 at 9:40 PM

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ikidesu

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Posts: 625

Ah, i ever thinking about it. And i ever heard exchanger staking our coins and no added to our acount, maybe that's one of profit for them.

Posted on November 18, 2014 at 10:26 PM
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BikerGSX

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Posts: 237
Location: UK

@inigthz Hi,

I want ask about Proof of stake coin.

1) Does exchanger staking our coins in their wallet?? And, if yes. Why the result from staking not added to 'our'??

*Will ask another questions soon..

Thanks.

First of all don't leave any coins on any exchange. A good exchange should store coins in cold wallets, if you want to stake a POS coin you should download the wallet and put your coins in the wallet with a password. Most POS coins pay 2 to 25% A year. You do not have to have the wallet running all the time to stake the full %, open it a couple of times a week will be enough. Once you have been staking for a while, it is best to then use "Coin Control" to tidy up the transaction blocks, which will then make the wallet run faster. You will know when this needs doing when you start getting smaller and smaller stakes at a time. In my opinion the disadvantage of POS coins is that coins end up being kept in wallets and not used which in turn stifles growth and expansion. Good luck with your staking. ^-^

Posted on November 19, 2014 at 2:00 AM
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inigthz

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Posts: 154
Location: Indonesia

@bikergsx

@inigthz Hi,

I want ask about Proof of stake coin.

1) Does exchanger staking our coins in their wallet?? And, if yes. Why the result from staking not added to 'our'??

*Will ask another questions soon..

Thanks.

.. which will then make the wallet run faster. You will know when this needs doing when you start getting smaller and smaller stakes at a time. In my opinion the disadvantage of POS coins is that coins end up being kept in wallets and not used which in turn stifles growth and expansion. Good luck with your staking. ^-^

What does the cold wallet mean?? It mean like an offline storage? Paper wallet?? Or what??

If yes, why an exchange can automatically send withdrawal request?? So, if an exchange need manual withdrawal process, they use wallet client??

Posted on November 20, 2014 at 8:49 AM
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BikerGSX

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Posts: 237
Location: UK

Yeh, it's like offline storage which they keep most of the coins, sometimes exchanges can get caught out and there is a delay of withdrawal of certain coins. That's my understanding anyway, as for exchanges keeping your minted coins, the way I see it is, it's their equipment and electric and why should they give minted coins to customers who are to lazy to withdraw them to their own wallets. At the end of the day the idea behind POS is for members to have wallets minting which in turn supports the network.

Posted on November 20, 2014 at 4:23 PM
Last Edited: November 20, 2014 at 4:26 PM
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