hi is there a difference between staking 24 hours a day vs just staking whenever you want to?
will i get less total coins stake if i dont stake it always? or it is the same?
GOOD QUESTION!Look at Staking Like Fishing.If you have your "line" in the water 24/7. You are going to catch more "fish" than someone who just throws the line in "now and then" for several hours at a time.
Remember, when coins stake, your wallet is competing against other wallets to win the stake "reward".
So the longer you can stake in one continuous session, the better.
I am unable to stake 24/7. But i simply stake from the moment i wake up, till the moment i go to sleep, which is often from 8am to 10pm. 7 days a week.
Hope that helps.
sorry i have a follow up question. haha this coin says it has 2% interest rate? what is that annual interest? if so, is it fixed even if you dont stake 24/7?
like scenario 1 you stake 24/7 you get 2% a year
scenario 2 you just stake whenever you want and you still get 2% a year or if you just stake whenever you want you will get less of 2%
scenario 3 you get more than 2% if you stake 24/7?
Just taking a quick look at the first page and top image it says
"2% Constant Intrest"
So it should be a case of when ever you are staking you get 2%.
To be honest, staking rewards is a bit of a mystery there are several variables, the number (percentage) of people staking will also determine your chances of getting stake rewards, the higher the percentage, the more people staking, the less likely you are to get the reward.
Staking reward system for ALL POS coins is plain overcomplicated and hard to understand.
I/O Coin should work on this fact and be the First coin to make rewards much more simplified.
So for now.
The only way to work things out is to stake daily.
Record the number of hours each day.
Then in your wallet, Transaction Tab.
second drop down menu, select MINED.
And note down how many coins you got for that day.
See what you have over the week.
Rinse and repeat, then in 4 weeks Add up the total hours
Divide this by the total coins received
and you will have a very good idea of how many coins you will get per day (24hrs).
Also, when it comes to staking, extra coins are simply a bonus, the most important reason for staking is to secure the network.