Staking $COIN Tokens
Staking your $COIN security tokens is a very simple and quick process once you have deposited tokens into your Coin Wallet.
- 3.Swipe to the $COIN token card for staking
- 4.Tap the yellow Staking button
- 5.Enter the amount of tokens you would like to stake
- 6.Tap the Checkmark to confirm your exchange request
To start, navigate to $COIN token card to stake. If Coin Wallet detects $COIN in your wallet, a yellow staking button will appear. From there, simply tap that button.
Enter the amount of tokens that you would like to stake.
Confirm your staking request details.
Once confirmed, your tokens will be sent to a smart contract for staking execution until you elect to end the stake.
Following your staking request, you will receive a request confirmation in your wallet transaction history. Tap the record to expand and obtain the status of your request directly on the blockchain. Tokens are only staked when the status is updated to Confirmed.
- Staking requires two transactions on the blockchain to completely execute (both incur gas fees):
- 1st: Transaction to approve the staking contract access to your wallet
- 2nd: Transaction to send your $COIN to the smart contract to begin staking
- Coin Wallet currently has zero fees; however, will incur normal network fees for each blockchain. This includes failed (if sent to the smart contract) and successful staking requests. Current fees on $ETH can be anywhere between $2 - $100 USD depending on gas, token type, quantity, etc.
- Your $COIN tokens are safely returned back to your wallet from the smart contract once you have elected to end staking in your transaction record for your request (in your transaction history).
- Staking requests are executed on-chain and execute at the speed of the Ethereum blockchain. This means transactions may take a few minutes based upon network conditions including congestion, etc.
- Unlike exchange requests, you do not have to be online after submitting your staking request for it to execute.