I recently read about PayAccept having some kind of staking system active from 1st August -
https://www.payaccept.net/pay-stakeI read about it a lot from Telegram groups where people join and share about this but I am not able to understand how does it work? I tried from that above link but did not understood. Anyone using it? Please tell me how does this work?
Like you mentioned the staking program begins on 1st August, so not yet. When staking begins you can join the staking directly from your Payaccept wallet and this helps in minting PAY tokens and you get rewarded for locking your tokens throughout a given duration. Staking is cool only if you have long term investor mindset and wish to add more tokens to the ones you are holding. The cons associated with staking is that your tokens will be locked throughout that period and you can't transfer or sell them if need arises till staking period is over.