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The cryptocurrency sector has significantly grown since the introduction of the first coin, Bitcoin, in 2009. Today, there are thousands of cryptocurrencies in existence, although bitcoin is still the industry leader. The crypto industry is reportedly attracting more millennials who have greater access to the internet and smartphones. Trading has been their major attraction and is still a significant incentive to many towards the industry.
However, most coins initially operated on energy-inefficient consensus algorithms, and this poses a threat to the environment with the growing interest in trading. Such coins work under the proof of work algorithm to verify transactions, making them slow and unreliable. Luckily, new coins are coming up to solve this challenge by utilizing the energy-efficient proof of stake consensus mechanism to validate transactions. Investors only need to hold these coins on proof of stake platforms like StackOfStake and wait to earn incentives.
StackOfStake is an automatic staking and masternode service launched in April 2018. Initially, it served as an instant and automated shared masternode investment platform for the SCRIV community. Months after its launch and successful operation, it expanded to a platform that offers a masternode service and a staking pool, cryptocurrency exchange, API, and mobile apps services. Investors can stake different blockchain projects and earn a passive incentive.
Currently, the platform supports more than 50 cryptocurrency projects, including SCRIV, KYD, Escrow Coin, MONK, DASHD, POT, XGS, BPS, SMART, BC, Divi, POLIS, ESBC, MIDAS, SCC, Energi, Reddcoin, Rapids, Nebulas, Neblio, NavCoin, etc. Each of the projects has different staking rates.
How Does StackOfStake Work?
As a masternode investment platform, StackOfStake works by running masternodes that allow users to earn rewards on their stakes. A masternode refers to a server on a decentralized network that keeps copies of blockchains in real time. It completes unique functions and has the capability of executing instant and private transactions. Anyone can run the masternodes, although the stake serves as the barrier. Users must stake an amount on which they earn rewards based on the set interest rate.
Any amount can be deposited and earn incentives, but larger amounts mean more reward. The stake ensures that masternode owners do not cheat the system because they have a stake in it. Attempts to corrupt are punishable by devaluing the owner’s holdings.
Most coin holdings come with different reward fees that range between 5% and 40%. The staking pool of the StackOfStake platform is the masternode reward infrastructure, and investors receive incentives automatically in their wallets. The new balances form the stake for the next reward cycle. Investors do not need to do anything after their first deposits as the masternodes run automatically with the available balances.
How to Deposit and Withdraw on StackOfStake
To deposit, sign in to your account and find ‘Explore’ and choose the coin to invest in on the dashboard. You will have the option of making a direct deposit or exchanging Bitcoin for the chosen coin supported by StackofStake. For direct deposits, send the selected coins amount to the deposit address. The amount will appear on the platform dashboard. There is no minimum amount for deposits.
To withdraw, you go to your selected coin on the dashboard and click on withdraw. Fill the number of coins you want, and paste the wallet address at the tab below the amount. Refresh the page to see the pending status, wait for a few minutes, and complete the withdrawal. There are no withdrawal fees.
How Do I Earn Rewards?
At StackOfStake, rewards are automatic and only require the first deposits. All you need to do is choose your preferred coin and make the deposit. Once the deposit transaction confirms, you can begin earning your passive incentives.
StackOfStake Application Programming Interface
Application Programming Interface (API) refers to a communication protocol between a user and a server. It allows for the integration of different StackOfStake services by abstracting underlying processes to expose only what the user wants.
The platform integrates both Public API and Partner API. Partner API is the most advanced and the best facility to earn with StackOfStake. It allows for the management of multiple digital assets in terms of deposits, withdrawals, incentive earnings, and balances.
Public API integration allows for the development of applications for personal use, or for those planning to engage the platform in decentralized finance. Users must first register with StackOfStake and generate their API keys. The API keys vary in types, and owners can use each of the keys in different scenarios. For example, users can have a deposit for savings app in which their balances get diversified into different ways of receiving passive incentives, including the platform’s stakes.
StackOfStake Express Trade
The StackOfStake platform incorporates Express Trade, a cryptocurrency exchanger that allows users to exchange bitcoins for StackOfStake coins and vice versa.
Benefits of StackOfStake
The platform allows its users to enjoy the benefits of:
- Automated operation with an auto reinvestment feature
- Instant masternode joining and investment
- No minimum deposits or masternode entry-amount
- Express trade cryptocurrency exchange
- Immediate withdrawal at zero fees
- Users receive rewards even on the smallest stake amount
- StackOfStake API and Mobile application
StackOfStake provides a platform where users begin to earn from masternodes even before they have a full node. One coin is enough to start earning. The compound interest accrues on your stake, and the subsequent incentive gets compounded from the total amount after the previous reward. Rewards do not come from one node, and this secures StackOfStake as the platform for ultimate shared masternode experience. Rewards come from every node based on the ratio of your coins to the total number.