Bittime Staking FAQs

1. What is crypto staking ?

Staking is the newest feature from Bittime, where Bittime customers can earn passive income by storing their crypto assets in this feature.
Example: Bittime customers deposit 1 ETH (Ethereum) at 10% interest per year using the Staking feature. User assets will increase to 1.1 ETH (Ethereum) in the following year, or an increase of 10%. The larger the nominal stake, the greater the nominal reward you will get.

2. What is Proof of Stake?

Proof-of-stake is a crypto asset consensus mechanism for processing transactions and creating new blocks on the blockchain. A consensus mechanism is a method for validating entries into a distributed database and maintaining database security. In the case of crypto assets, the database is called a blockchain—so the consensus mechanism secures the blockchain.

3. What are the advantages of the Bittime Staking Feature:

• 100% Assets guaranteed safe & insured
• Offers high APY Interest 
• Has an automatic renewal option, so you can stake as you wish.
• Has an Early Redeem feature where you can redeem & WD at any time
• No administration fees (0% Fee)
• Bonding time is quite fast compared to some competitors

4. What is the list of crypto assets that will be staked on Bittime?

The following table lists the types of coins & Estimated annual interest/Annual Percentage Yield (APY) that will be received by the user :

Note:
- The APY value above can change at any time in accordance with Bittime regulations which refer to the blockchain policy of each crypto asset.
- New Users are Bittime users who are staking for the first time.
- Old Users are Bittime users who have done 1 (one) staking activity on Bittime.

5. What is the Minimum deposit in Bittime Staking?

The minimum token for staking at bittime varies based on each token. For example, ADA has a minimum of 25 ADA, and if your staking deposit is small, then the APY interest earned will be small and vice versa.

6. Are there any fees for staking and unstaking?

No, Staking and Unstaking on Bittime is free of charge or FREE.

7. What is the maximum staking value on Bittime?

Each crypto asset staked has a staking limit and quota for each staking period per user. 

8. How much interest can you earn from Bittime Staking?

The compound interest rate (annual percentage yield) for each crypto asset can differ from each other according to the policies of each crypto asset and can change at any time. The type of crypto asset that the user gets from staking will be the same as the type of crypto asset that the user invests.

For example, if a user deposits ADA (Cardano) assets in Bittime Staking, the user will also receive interest in the form of ADA (Cardano).

9. How long can I earn Staking Interest?

The staking period is 7 days and can be automatically renewed

10. Are there any fees for staking and unstaking?

No, Staking and Unstaking on Bittime is free of charge or FREE.

11. Is staking available on App and Web?

There is no website yet, currently it is still available on Android & iOS applications

12. Can I “withdraw” early the crypto assets I have staked?

You can withdraw early the crypto assets that you have staked, we call it Early redeem or Redeem Early. Your crypto assets will be returned immediately after you process the early redemption.

13. How does Staking on Bittime work?

Users stake their coins to Bittime, and Bittime will stake those coins to the Blockchain. Meanwhile, Bittime will receive rewards from the blockchain based on the rules of each blockchain, then the rewards will be given to users according to the staking period.

14. Can I increase my Staking quota?

At this time we do not offer the option for users to request additional staking quotas. But don't worry, there will be future adjustments to the staking limits according to Bittimers' requests.

For a complete guide on how to stake on Bittime, you can read this link .