Getting my first SmartRewards Smartcash(SMART)
Hello guys just want to share to you one of the cryptocurrencies that I have been invested in and interested at on. It is called Smartcash(SMART). Every 25th of the month they will be a payout for staking the coins on a wallet.
What are SmartRewards?
SmartRewards are a price stabilization mechanism and a way to encourage long term holding. Long term holders are key to the project’s success since the SmartHive treasury needs SmartCash to appreciate in value in order to fund meaningful 3rd party proposals and help grow SmartCash into a successful global crypto-currency. Each wallet address holding at least 1000 SmartCash will get paid each 30 days on average after the snapshot date on 26th 2am pacific time. The SmartRewards will come out of the 15% block reward allocation.
The 3 Main Things to remember about SmartRewards
- The SmartCash Address that will receive the SmartRewards should have at least 1000 SMART.
- Initial 30 Day Hold Period.
- Payout 25th of Each Month
So then I invested in SMART last August 16 approximately $41 in Cryptopia, I then downloaded the latest windows wallet and stored all my SMART 2458.13793945 to one address for SmartRewards. Today is the 25th and my first SmartRewards payout, and I then gained 945 SMART with my 2458 SMART Investment 945 SMART is $17.31. That is really nice earned $17.31 in one month through SMART Rewards. I will continue staking if this is the case on the next snapshot the basis for my next payout will now then be 3403 SMART. So hoping 1000+ SMART next month hopefully.
Here is a screenshot of my wallet transactions:
If you want to see more information on SmartCash and SmartRewards visit these links:
https://smartcash.cc
https://smartcash.cc/what-are-smartrewards/
https://smartcash.cc/get-smartcash/
That is all I am not in any way an expert. I am just a normal guy interested in the incredible world of cryptocurrencies. Invest at your own risk, do your research on your own there are lots of resources out there.
Let me know how that goes. A %40 interest rate on loaned funds doesnt seem sustainable unless those coins are being printed out... And that sounds a lot like the problems we have with traditional fiat. Of course, even if it lasts "a while" there might be profit in it.
Yes I will, SmartRewards comes from the block rewards 20% of the rewards go to it, so to encourage long term holding of the coin they introduced SmartRewards where per month you get rewards for not moving/selling your coins.
Wait, help me understand. Do you mean that part of the miner rewards goes to the holders of the coin? Or do you mean that the block just naturally rewards %20 on top of the miner rewards and it is sent out to holders of the coin. The second seems like it really is just creating money from nothing. Still, it's a really interesting idea... Like creating and fighting inflation at the same time. The only real draw back I would say would be that in times of trouble there would be a run on this currency like no other. : )
The block rewards are split 80% SMARTHIVE/HIVETEAMS and 20% goes to Miners/SmartRewards. It has a total maximum supply of 5,000,000,000. SmartHive enables anyone that holds coins can vote on proposals submitted by the community. The Hive Structuring Teams (HST) will lay the groundwork for the project and set the framework for the project’s evolution.
You can see here the parameters for SmartCash: https://smartcash.cc/what-is-smartcash/
You can see here the projects they are working on: https://smartcash.cc/roadmap/
The latest one they released is the web wallet, the community really is great. Yeah in every investment there are risks to take. :)
Well, I definitely appreciate the thoughtful replies : ). I learned a lot and for that I am grateful : ).
No problem man, hopefully I answered your questions. Followed you bro. Keep on Steeming :) . Thank you also for engaging in my post.
sounds good...
Yes the smartcash community is also great :)
This looks promising. I'm planning to do more investments when I find time.
Invest only what you can afford to lose, investing in cryptocurrencies is high risk and high reward. Lost myself $100+ now because of investing, research is really the key :)
True that. I already lost a lot too 2yrs ago. Haha not for crybabies.
Haha yes anything can happen, but hopefully the outcome is good. Yes definitely and not for weak hands.
Im still looking for a new investment. Dont have so much idea with this but gonna do research for this.
Yes research is very essential before you invest. There is risk in everything and you might lose all you invest in.
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can you also stake it in the web wallet?
Hmmm I am not sure about that, try to join the smartcashs slack you will get your answers. The web wallet I think is still in development, but nearly done I think.