Please help out a noob, staking etc

Hi, I am really quite a crypto noob but i have my NEX tokens from the ICO as I like the project.

Can anyone advise me on how to stake my tokens that are currently stored in Neon Wallet with my nano ledger. I also have the nex extension account which is empty. Or is there a guide on how to stake anywhere?

Is there any hurry to stake, or does it not really matter whether I do it now or in a few weeks… Would it be better to wait until the volume picks up? What happens at the end of the staking period?

Also, once my tokens are staked how safe are they? Does it mean we are trusting Nash to look after these tokens for 2 years? It feels a lot less safe than my current way of using my Ledger Nano

Any help would be great

Here you go:

What happens at the end of the staking period?

Your tokens are returned to your personal wallet.

Also, once my tokens are staked how safe are they? Does it mean we are trusting Nash to look after these tokens for 2 years?

Your tokens are locked in the staking smart contract for the whole staking period. It is impossible for anyone to access them – not even you.

Thanks very much, I’m just a little confused still, so with the tokens I have in Neon Wallet, I have to send them all to the exchange to stake?

Also, is there any rush to stake now, as I’m crazy busy and havent even setup an account, done KYC etc. And woudl it be better to wait until volume picks up if I’m staking the full amount for 2 years?

Its not really sending it to the exchange. You send it to a wallet that you created while registering on the exchange. Its still yours. You can still use the NEON Wallet with your new keys.

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As @kabelman said, you are not really sending them to “us” – you’re sending them to the wallet you created on our platform, which only you control.

We need people who stake to do KYC, so you have to do it from the wallet on our platform, which we’re able to associate with your verified identity. Also, our platform is the only way to configure your staking preferences, so you need to use our UI to interact with the staking contract.

Nash is totally non-custodial, though. We do not control the tokens in your personal wallet. We just offer you the tools for interacting with them, sending them to the staking contract, etc.


Thanks, yes I understood that. Will there be a way in the future to interact with the wallet on your platform with my ledger nano? Because thats how I store my numerous other tokens and I like the security of it.

Also, I noticed on your platform that I can just click ‘forgot password’ and I can reset the password that easily, so if someone hacks my email account they can access my funds right? They can get my seed if they can get into my account also?

I see everyone on the forums rushing to stake their tokens, is there any reason for those? I dont understand the hurry, I’m just trying to work it out while being crazy busy with work. So thanks for any help

In regards to your last question, there are no promotions or bonus for staking tokens this early. Users are just excited to stake and earn dividends, I guess!

Thanks, thats good to know, so no hurry!

As for security, I was just a bit worried about the fact I could click forgot password and reset my password, so if someone hacked my email they could get my tokens. But I guess if they are staked then its safe for the time being?

I am so used to having everything on my ledger, and Nex is my biggest holding (but still only the ico amount), so I just want to feel my tokens are safe! I’d love to store them using my ledger, and not have to worry about another seed etc.

That’s not correct. You need your twelve words in order to reset a forgotten password.

See Chris message above, that is not the case. I ask members of the community to familiarize themselves with the knowledge base before making assumptions such as these, it is okay to not know. Just don’t make statements that an uninformed user would read and think to be true.

We can mod the messages but we really try to avoid it :sweat_smile:


I was atcually just asking.

So the fact I was able to reset my password just by clicking ‘forgot password’ must be due to the fact that I hadnt written down my 12 words yet or even passed that page, I changed my password as soon as I set up an account by clicking 'forgot password

So in that sense maybe my wallets havent even been created yet?

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That is correct.