Crypto-Bridge Staking
Introduction
Crypto-Bridge is a gateway service for the Bitshares Exchange. They allow users to move coins to and from the Bitshares DEX. They offer a similar function to Openledger and Rudex. I've been following @mindphlux on Telegram for a while now and was intrigued by his concept of a syndicated gateway network. While he has not yet syndicated the network, he has created some innovative ways for individuals to share in the profits of the network by staking BCO, BridgeCoin. It's smart to get users to stake coins because it ties them up and reduces supply thereby increasing the price on the open market. By tying up the coins for ever-increasing amounts of time, the end user has the ability to earn greater rewards. In essence, staking a coin involves placing the coin is a vesting status similar to STEEM power. At the time it appears that the payout is monthly but please offer a correction if I'm wrong.
From the official announcement:
During the staking period you will automatically receive bi-weekly payouts to your account on CryptoBridge.
Purchase BCO and stake it
BridgeCoin can be purchase on the DEX here. Once purchased, you can visit their exchange of follow this process for staking.
I staked about 6,000 shares and will report back when I receive my first payouts. If anyone reading this article has evidence to support past payouts, it would be helpful to hear some metrics to know whether this is a worthwhile strategy.
I have a pocket-sized stake of 80 BCO (staked over 1 year) and I have been receiving pay-outs every fortnight. Here is a screenshot of my most recent pay-out from 3 days ago:
Payout amount increases if more BCO coins are staked and/or the staking period is longer. Happy staking!
I'm staking as well and have received 2 payouts so far. They are bi-monthly. They are building a great community as well.
Here is a link to the latest payout announcemet:
https://medium.com/@cryptobridge/cryptobridges-third-staking-payout-to-bridgecoin-stakers-over-2x-increase-january-15-th-2017-c5357315970e
Awesome!
So you literally get those fees paid to you in their native coin when staking?
Yes. That is absolutely correct.
Thats not bad, i'm loving the platform i've just started staking for a year also, is the payment biweekly on a certain date? @faraicelebr8
Welcome on board @cryptojamesyou! Judging from history, payments seem to come on the 15th and last day of each month.
Previous payout dates:
Going by this, next payment should happen TODAY!
Thanks for that buddy, helped me out a lot 👍
My pleasure! On a different note I have this question for you.
hey I've replied to your last post with a bounty claim. can you check it and let me know if I've won please? I worked pretty hard for it and hope you liked it. here's the link: https://steemit.com/bitshares/@ddangerwu/eli5-detailed-explanation-of-everything-going-on-with-bts-bitusd-market
You've won. I'll pay you as soon as I receive the payout. Great work!
awesome! I am actually creating video tutorials/walkthroughs/explanations of the bts network. are there any topics or aspects that you think are important for me to cover? no bounty needed, just want to go in the direction of your suggestion seeing as this last post was very popular
Hi @billbutler, please allow me to reference your post to introduce this to Chinese community!
Link here:https://steemit.com/bitshares/@incrediblesnow/pu35s
staking on the exchange. can't get any better than that. Thanks for the info.
Wow staking from an exchange you say amazing to where we are headed glad we are woke or waking up before the masses.
First time I'm hearing about this project. Sounds like a really smart way to gain attraction!
Congratulations @billbutler! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPYou need to stake the coin on their exchange or locally on your PC?
To earn dividends by way of stacking, your BCO (or stacked coins) must be staked on the exchange. The staking is accomplished via smart contract and all payouts are automatic.
Excellent post, very nice, thanks
I know its 11 days old but that doesn't makes this still usefull information. Would like to know your payouts. Don't really trust those smaller exchanges normally i wait for it to get to bittrex or binance. I don't use bitshares at the moment, but i know its from the same creator as steem. So should i get into it?