Maybe you already know PIVX? If so, this article will please you if you want to earn passively.
PIVX is a cryptocurrency with the major characteristic of being confidential. We can therefore make transactions completely anonymously. Likewise, the fees are very light and especially compared to bitcoin. Finally, the network is extremely secure and even a 51% attack would be almost impossible.
Here, I am of course summarizing, because what interests us is to earn PIVX for free through staking.
Here is the principle:
You can stake your PIVX coins to help keep the PIVX network running smoothly. In exchange for staking your PIVX, you therefore also receive your rewards in PIVX.
Staking is actually a great way to put your capital to work passively. You don't have to do anything afterwards but wait and watch your capital grow by itself.
I show you here, therefore, how you can store PIVX to earn passive income in cryptocurrency.
Steps to staking PIVX:
You will see, the steps are very very simple. You will be able to quickly earn PIVX, you will see.
1. Download the official PIVX wallet
The first thing you will need is the official PIVX wallet.
(I assume you already have PIVX ready to send to your wallet. Otherwise, you can purchase some directly on the Binance platform.
Go to the PIVX wallet download page. The PIVX wallet is available for Windows, macOS and Linux.
Please note: : Certainly, the PIVX wallet is available for Android and iOS, but the staking function is only available for the desktop version. This is often the case for staking in general.
2. Install and sync
Next, you need to install the PIVX wallet on the device of your choice.
Once the installation is complete, there are two essential tasks to do.
A. You need to create a passphrase.
The first is to choose a passphrase with which to encrypt your PIVX wallet. A passphrase is longer than a password and contains more individual characters. Your passphrase should also be easy to remember, instead of a hard-to-remember alphanumeric string.
Really, I can't stress enough to tell you to write down your private key on paper, in a notebook or on a USB key.
B. Wait to sync everything
Once you have chosen a password and secured your account, you must wait for the PIVX blockchain to download.
This is the longest part of the process. Really, it will depend on the power of your computer but in general it takes time.
If you leave your system powered on and the PIVX wallet open, it should only take a day, maybe two…
3. Transfer PIVX to your wallet
Once the PIVX wallet sync is complete, you are ready to send tokens to the wallet.
In the left column, select “Receive”.
You can make a payment request using the form, or you can copy the incoming payment wallet address to where you are sending.
To do this, click on the “Request payment” button and copy the PIVX wallet URI or the address itself.
Make sure you copy the full address correctly, otherwise the transaction will not work.
Example of PIVX wallet QR code address.
Alternatively, you can select one of the buttons at the bottom of the payment request box to copy the address to your clipboard.
You can also save the PIVX wallet QR code and then send or display it wherever you want.
PIVX transactions are very fast, you will see them appear very quickly.
4. Activate your PIVX
Now go on
Settings > Unlock Wallet. Then click on For anonymization and staking only
In French, we could translate it as “For anonymization and staking only”.
Enter your PIVX wallet passphrase to unlock your wallet.
Click on OK.
That's all!
Yes, the tutorial is finished! Have you seen how simple it is?
You are now staking PIVX on the PIVX blockchain to keep the network as a whole functional.
For this, we will pay you in PIVX.
How much can I earn by staking PIVX?
The amount of PIVX you earn as a dividend depends on the amount of PIVX you are going to stake.
In the past, there was a calculator to see how much you could earn.
However, you should know that PIVX staking does not offer fixed rewards. It's quite random like a lot of crypto.
For staking, a general rule is that for every 1000 PIV (a little more), you can expect a reward once every 30 days. Once a month is quite common in crypto staking.
That being said, a Masternode requires 10.000 PIV, and each Masternode should receive a reward every 1-2 days.
Well, the masternode is another matter. Already, a masternode requires a virtual private server (VPS) to ensure that the masternode remains online 24/7. You must take this into account in your profit calculations. It's still different and we'll talk about masternodes next time.
(If you want to know the difference between staking and masternode, I suggest you read the article, here).
A masternode earns you additional PIVX interest, as well as a direct voice in the operation of the PIVX network. At the time of writing, a 10 PIVX masternode would earn you 000 PIVX per day, or 2,48 PIVX per month. Those are estimates, eh 😉
Is PIVX a good investment?
When you qualify for a PIVX staking reward, it appears in your transaction history, along with your other entries and exits.
You can withdraw them at any time.
Now to answer the question of whether it is a good investment…
PIVX staking is interesting. If you're not using your coins for anything else, why not do staking? This is how I generally view it.
Your stake determines your reward.
Only, I know that the returns are quite low and that the rewards are too.
The low return rate is relatively similar across the board with other tokens although it can be as low as 10% if you have a masternode.
To know if a crypto is a good investment to make, the ideal is to look at its history. More generally, we will refer to its curve.
It is important to note the major trend since its creation. It is also very important to note the ultimate price peak that the crypto reached.
For example, what we can see is that PIVX has reached the incredible price of $13. Can you imagine those who bought it when it was barely worth $1?
Today, it is clear that the curve is rather regular and constant and that the price is not very high…
Today, a PIVX costs US$0,426656… For some, when the price is low, it means it's time to buy.
This remains a good price and many holders of this token believe it will increase.
Well, in general, when you own cryptos or tokens, you always expect them to go up.
It's up to you to judge whether it's a crypto that interests you or whether you prefer to stake on another crypto.
Know that the processes are more or less simple. And, quite similar to the one I present to you here.
How to stake more easily, without a computer?
I know that staking on your computer is not at all easy. You have to keep it online non-stop and that consumes a lot of data. Unless you have a monster of a computer, it makes more sense to opt for Stakeboxes.
I've already told you about it, but I have to say that I'm a big fan of this ready-to-use system.
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Order a StakeBox
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There are many tutorials on staking boxes that explain very well how to do it. I'm thinking of doing a tutorial for you myself next time.
Likewise, I would like to end like this: We saw PIVX staking here because I wanted to show you a concrete example of how staking works. However, there are plenty of other even more interesting tokens.
😛 Likewise there are Stakeboxes for other tokens!! Don’t hesitate to take a look at the store: Stakebox.
We will talk about it again on the videos on the Youtube channel and also in articles.
See you soon and happy staking PIVX!
