Passive Income with Cobo Wallet: How to stake Nexty (NTF)
What is Nexty (NTF)?
Aiming to disrupt the traditional banking and e-payments industries, blockchain projects like Bitcoin and Ethereum have been long been touted as the forerunners for the blockchain revolution. However, the reason why they are still not widely adopted in making digital transactions is due to niggling issues like long transaction time, high transaction fees and most importantly, fluctuating coin prices. Many blockchain projects have managed to solve 2 out of 3 problems but none has actually managed to solve all 3 so far. That is why Nexty was created as they strive to be the first to solve all 3 problems.
Nexty hopes to bring more e-commerce startups into its eco-system as its platform could be the game-changer for e-commerce startups. Not only can Nexty help e-commerce startups to raise funds from the community, its instant transactions and zero transaction fees features are especially alluring. Moreover, having a stable price is potentially what’s going to help Nexty pull away from its competitors. No one enjoys the hassle of buying on e-commerce sites while always having to worry about fluctuating prices.
How to stake NTF?
In Nexty’s network, you can earn passive income by either running your own “sealing pool” or join an existing one.
To run your own “sealing pool”, it can get a bit complicated if you are not technology well-versed. There are certain software requirements to be met and there is a minimum sum of 50,000 NTF to be deposited into the registration contract. To read more about running your own “sealing pool” you can follow this link.
In contrast, you can join an existing one through Metamask by following the set of instructions in this link.
What if you did not understand any of that and just want to earn passive income?
Well you are in luck! Cobo Wallet has in-app staking feature that allows you to utilise funds from your wallet for staking without going through any third-party applications.
If you haven’t downloaded Cobo Wallet, you can find us on all major app stores (e.g., Play Store, App Store) or download it directly from our website.
You can start earning NTF rewards with Cobo Wallet through staking with as little as 2 NTF, with rewards paid out every day. The rewards are proportional to how much you put in. The more you deposit, the higher your reward. Users can expect to earn a handsome interest rate of approximately 20% per year just by staking with Cobo Wallet.
How?
- Store your NTF into Cobo Cloud Wallet.
- Tap on Finance tab and choose the amount of NTF you want to stake.
- That’s it! There is no lock-in period, however do note that rewards for current period will be forfeited if you withdraw before the end of the staking period.
Is there any risk to stake NTF?
There is no risk to stake NTF. You will always keep possession of the private keys by leasing to nodes. In case your chosen node fails to maintain constant uptime, you will only miss out a small percentage of the rewards.
Will the rewards for staking NTF change over time?
Yes, the rewards will change according to the number of coins staked. It’s just a balance between demand and supply.
How does Cobo charge?
Cobo takes 10% of the NTF rewards. Holding your assets in Cobo Wallet will always be free.
About Cobo
Cobo is a company that is firmly committed to supporting blockchain development and making cryptocurrencies easy to own and use. We emphasize long-term security, reliability, and convenience. Our key products and services reflect that vision. Altogether, Cobo offers a secure mobile wallet (Cobo Wallet), high-end cold storage wallet for advanced users (Cobo Vault), and custodial services for institutional investors (Cobo Custody).
For more information about Cobo, visit https://cobo.com
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