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Staking PIVX and its Return on Investment

2018-12-10 | PIVX

How to Stake on the PIVX Network?

It is extremely easy to start staking on the PIVX network. It can be done on practically any computer using the PIVX wallet found on their website. Simply send coins to your wallet, wait until they have at least 101 confirmations, and unlock your wallet for staking from the settings. Once this is done, you should see a green arrow at the bottom right of the interface. This indicates that you are now actively staking. Any rewards that you earn will show up in your transaction history similar to any other transaction to and from your wallet.

What is the Return on Investment of Staking on the PIVX Network?

Staking on the PIVX network is highly randomised and thereby quite difficult to predict. Every 60 seconds, the PIVX network creates 6 PIV through the process called minting. Of these 6 PIV, 1 PIV goes into a pool that is used to fund the development of PIVX. Masternodes and Stakers then divide the remaining 5 PIV. If the winning stake was on the PIV currency, 3 PIV goes to the Masternodes and 2 PIV goes to the stakers. If the winning stake was on zPIV, 3 zPiv goes to the stakers and the remaining 2 zPIV goes to the Masternodes. As such, the network incentivises zPIV staking. In general, stakers with 1000 PIV or zPIV should expect a staking reward roughly once every 30 days. When staking zPIV, this would translate to 36 zPIV earnt per year, or 3.6% on your 1000 zPIV. As this is highly randomised, it is important to that the staking wallet is kept running as much as possible, so as to not miss any rewards. The 30 days mentioned is an average. You may end up seeing two rewards on the same day and then no rewards for weeks.

Stake your Coins with the OmniStaker

Although easy, staking from any old computer is not the best way to earn extra coins on the PIVX network. Because of the large randomness factor, keeping your staking setup running as much as possible is preferred. The power consumption of your old computer would likely cause your earnings to decrease. Furthermore, its hardware is not designed for always-on purposes. For this reason, we have developed the OmniStaker. The Omnistaker is an easy-to-use and efficient device that you can use to continuously stake your PIV and zPIV as well as other Proof of Stake currencies. It can simultaneously stake multiple currencies 247 while it keeps power consumption low which allows you to maximise your earnings.