There are various ways to make a profit on our exchange. The most common one is trading. However, cryptocurrency trading requires an understanding of the market, trading skills, and a willingness to take risks. Yet, there is another way to generate income, and that is SMART Staking.
This is a tool allowing you to make a profit by holding funds on one of the available plans. Make a deposit, select one of the recommended plans, and get rewarded when the staking period ends. Unlike with trading, you do not need either specialized knowledge or trading experience. A few steps and your funds are already working for you. What could be easier?
This article features the answers to all questions about the use of SMART Staking: from choosing a plan to getting an interest. We hope you will find everything necessary for the successful use of the tool. Let’s get started!
How to choose a plan?
There are 44 plans (at the time of writing) with various coins on our exchange. They differ based on the size of the interest rate, terms, and the minimum/maximum deposit amount.
Study the information on all active plans to be able to select the optimal plan to invest in. All the info is available in the SMART Staking tab, which is located in the top menu.
Note that for some coins, several plans are available. Those have different terms, and you can choose the most suitable plan or all of them.
To find out the amount of potential benefit, specify the deposit size in the corresponding field. Below are the minimum and maximum deposit amounts.
How many plans can I use at the same time?
You can simultaneously invest in many plans. The only condition is that you cannot invest in the same plan until the end of its period. For example, you can use several plans for the same coin at the same time, but their conditions (a staking period and interest rate) must be different.
Let’s say that you invest in the USDT SMART plan with a 30% interest rate intended for 360 days. It means that you will not be able to use this plan again till the end of its period. You can invest in other plans, including those with USDT. However, for this coin, the staking period must be different (10, 20, 30, 90, or 180 days).
Which balance can a deposit be made from?
To be able to invest in a SMART plan, you should first replenish the Main Balance. Before depositing, we recommend checking whether the sum on the Main Balance exceeds the required minimum for this SMART plan. To do so, go to the Balance → Spot tab at the top of the site page. To read a step-by-step guide on how to replenish the balance, tap here.
How to activate a plan?
To start receiving passive income:
- Go to the SMART Staking page and decide on one of the SMART plans.
- Make sure the amount of funds on your Main Balance is no lower than the minimum for this SMART plan.
- Specify the amount of currency you want to deposit and click the Deposit button. Done!
Once the deposit is made, you will get the following notification:
Your Main Balance will decrease by the amount you have staked. The funds will be locked until the end of the staking period. When activated, the plan will immediately be shown in the Active plans tab. You will always be able to see the date when the plan ends and the amount of staked funds.
Where will the funds go when the staking period ends?
After the end of the period, the plan will be closed automatically, and your funds, together with the percentage, will be credited to your Main Balance.
Can I close a plan before the required period ends?
Any plan can be closed before the end of the staking period, but in this case, you will not receive interest.
How to close a plan?
Here is how to close a plan:
Find the Active plans section on the SMART Staking page.
Select the plan you want to close and click the Close Deposit button.
After that, your funds and interest will be credited to the Main Balance.
If you have any problems with your balances or SMART Staking, you can contact our support team by creating a ticket here or by sending a letter to support@whitebit.com.
Pick a plan & start earning passively!
