Hi, I am not very tech savvy but got some Nex a while ago. I would like to stake my tokens but have a few questions…
Is now a good time to stake? Should I wait until there is more volume, I plan to stake for 2 years.
The Nash chrome extensions says it will no longer be updated, does this mean it has no use anymore apart from logging in to this forum? Should I just be using my account on the Nash website to Stake?
Can I send NEX straight from my Neon wallet to my account on the website and then stake?
Then is my NEX completely safe for 2 years? WIll it be automatically put back in my online account in 2 years time? I just like to keep it safe using my Ledger as much as possible.
Do dividends get re-staked, or just put in my account?
Any other advice you think I should know
Thanks very much in advance
you are asking on the official forum, hence the general opinion might be that it’s a good time to stake, keep that in mind.
My two cents are that it’s not a good idea to stake right now, until we can see volume increases that keep going up, it means more people use Nash and its success seems more certain. The amount of volume does not even matter so much in my opinion, as a snowball effect would come later. If you now stake, you get your tokens unlocked at the date you have chosen, but if nash fails to deliver and something bad happens, you’l have no way of selling/quitting. I do find the chance of success at nash quite high, but i am not staking yet.
The nash extension will be discontinued and will be integrated with the main website account. So you can then simply use your main nash.io account to login to the forum.
Yes, make sure you use the nex wallet on the nash website to receive the nex tokens.
Nash uses smart contracts thus your nex is secured for the time you stake. Unfortunately this means you cannot use your ledger during this time for nex, neither can you then use anything else to interact wth the nex. staking means locked. not even you, neither the team, can change that.
Dividends re-staked? If you refer to getting NEX as dividend, that won’t happen. Nash first needs a security license for that, and that is not happening any time soon. In fact don’t count on 2020 at all for this to happen. But you could purchase nex with the tokens you receive as dividends and stake those again, as a option.
take a look at https://nash.blockshain.com/ (a nash fan built this). This shows how many nex is staked and for what period. There are videos on nash site that shows how to stake. you can stake from 1 month to 24 months, you can stake a small amount and see how it behaves , once the staking period is over, you can claim to get tokens back to your account and decide to re stake again
The decision when to stake and for how long, it’s all personal similar to your decision to invest in nex and for what amount.
Good time to stake? staked nex generate dividends even if the volume today is very low is still > 0. So if your nex is not traded then keep is in a wallet generate no value. When you stake you have choices for the duration, the min is 1 Month.
It wil be replaced by an auth protocol same as we used in the exchange. To stake you need to have nex in your nash exchange account.
Yes just double check your destination wallet.
From my experience, when period stake finish; you have to click on released my stake to saw it in your account.
Whether or not you want to stake is a personal investment decision. It will lock up your tokens for however long you choose, so that’s up to you.
You will need to use your Nash account (staking tab) to stake, not the Chrome extension.
Your NEX is perfectly safe in the smart contract. You’ll need to manually re-stake it, if you choose to do so. It’s as safe as if it were in your Ledger, as long as your password and keys are safe.
If you want to do compound interest, I guess you could use the dividends to buy more NEX on Switcheo or Tokok.
I think I might just stake all my nex for 2 years as I dont have that much and I dont trade. Honestly i dont spend any time on my cyrpto, I like to just leave it and hope in 5 years things will be better than now!
If something goes wrong with Nash and everyone sells, I’ll probably find out too late and not be able to sell anyway! Its happened before with other coins
