Staking NEX tokens, some advice for a noob?

staking
(Robodelfy) #1

Hi

I got some NEX in the first round of the ICO. I am not very crypto savvy but I believe in the project. I use my Ledger and Neon wallet to keep my NEX.

I am interested in staking my tokens. When will the time come to do this? And what will the process be as I’ve never staked anything before? Is it just a case of sending your tokens somewhere, and how do you know they are secure if you dont have control of them?

What are others thinking of doing, are you staking, if so for how long? Do you think its risky to stake for the full 2 years?

Thanks, an sorry for any silly questions

3 Likes
(Trust Yourselves ) #2

Hi Rob. These are not silly questions, i’m sure there are others on this forum that would like to know too.

when the exchange launches, you will be able to send the tokens from your neon wallet to your NEX account address.
I wouldn’t worry too much about how to stake. The exchange will be very easy to use and you shouldn’t need assistance. However, if you do need assistance, it will be easier for people in the community to help you when they can see the exchange live.

In terms of staking, it may depend on your personal financial situation.
My plan is to stake about 80% of my tokens for 2 years and i will create small, frequent stakes (about 2 months at a time) with the remaining 20%. I will break that 80% portion into four and make four separate stakes, each week for four consecutive weeks. This will allow me to have a payout each week for a full two years.

8 Likes
(Mao Mao) #3

Hope nash will create videos on how to stake like how well their ICO video instructions was… if not im sure we will see instructions being made on youtube by some nash users.

2 Likes
(Nick) #4

Glad to have inspired you :wink:

2 Likes
(Robodelfy) #5

Thanks for the advice. I guess its just wait and see, but it sounds loike it will be simple for a simpleton like myself!

(Nash101) #6

Also worth a look at this thread/post:

(Cammofunk) #7

As long as you’re realistic about volume and have your expectations controlled 2 years is definitely the way to go :slight_smile: Once the exchange is live (within 3 months) you will be able to send your nex tokens to your extension and stake them from their through the exchange. The team has stated in the past that it will be a very easy process.

Personally I’m long term staking at least half of my position right away but am aware it might not pay very well for a year or 2. The other half I will increment into staking contracts and take my initial USD investment out when it goes to 3-15$ range.

It’s all your preference and what your goals are for it. As far as dividends go, this has huge potential, especially if you look 5-10 years down the road.

2 Likes
(Mao Mao) #8

Who doesnt want passive income … especially coming from crypto exchange :))

1 Like
(Cammofunk) #9

ya, legit could be life-changing