Deciding what to do with your Ark Reward
Now that you’ve confirmed your victory and safely received the promised ARK prize to your Desktop Wallet, you have a couple of options from here on…
OPTION 1: HOLD YOUR ARK AND PARTICIPATE IN STAKING/VOTING
Voting and staking within the Ark Ecosystem serves as an undoubtedly lucrative investment. With the current average percentage paid out to voters, you stand to reap the benefits of up to 9% ROI. Additionally, as the adoption of this network increases, the value of the token increases too. The higher the ARK/USD exchange rate, the more tournaments we are able to offer you as a gamer and the higher the quality of our organizing and hosting services. Here are some benefits of voting for The Arkade.
OPTION 2: TRADE YOUR ARK FOR ANOTHER COIN(S) ON BINANCE
You may choose to invest your money in another coin or participate in the heated coin trading field on Binance. Make sure to research the coins and their development team members and use trusted sources to track trends and tendencies of the cryptocurrency market:
> Coin Market Cap
> Blockfolio
> BitScreener
Please note that sending/holding your ARK on Binance DOES NOT allow you to participate in Ark’s staking and voting program.
OPTION 3: CASH OUT YOUR ARK TO FIAT
The cryptocurrency world is not for you? Then good old cash sure is! The following will guide you through exchanging your Ark for Fiat:
a. Set up a Coinbase account
b. Deposit your Ark prize into your Binance Ark Wallet
c. Trade your coins for the Litecoin token (LTC) on Binance
d. Transfer your LTC to your Coinbase Account
> Copy the appropriate Coinbase Wallet Address (coin specific)
> Register your bank account on Coinbase to cash out
Please note that Coinbase works for a limited number of fiat currencies.
We use LTC seeing as that is the option with the lowest withdrawal limit so that you may get the prize to Coinbase from Binance.
OVERVIEW:
While it may sound complicated, the sequence is actually very simple and the available routes are straightforward. Make sure you familiarize yourself with the associated fees for each of the transactions (sending money to wallets/exchanges, trading coins, and cashing out are all considered transactions).
