The last post here on the KuCoin Blog has helped many people understand Staking on Pool-X, but there are still others that don’t know how to use it effectively. They can check out the previous post in this series: Making Money While You Sleep ② | How Much Passive Income Can Staking Bring You?
Now, some of our users are asking “Is there any way to get returns without locking my assets?” Today, the KuCoin Blog will be revealing the answer to this mystery. Soft Staking can perfectly solve this user problem. Ever since its launch, Soft Staking has won over more than 300,000 users.
Are you curious about Soft Staking? Well, don’t worry. The KuCoin Blog will walk you through a comprehensive explanation of Soft Staking to help you make money while you sleep.
Q: What is Soft Staking?
A: Soft Staking was one of KuCoin’s first inventions that went online back in July 2019. Users only need to deposit related coins on Pool-X with the minimum required amount, and then they can earn a return.
Q: What is the estimated profit rate on Soft Staking?
Different coins get different profit rates through Soft Staking. Click here to see the annualized profit rate for each of the Soft Staking products. Pool-X also occasionally launches limited-time Soft Staking with interest that can earn higher annualized returns. Examples include the ATOM and KSM limited-time annualized projects that are currently underway. Until 20:00 on July 1, 2020, users merely need to deposit ATOM and KSM on the Pool-X platform to enjoy 9–10% annualized income. The picture below shows a few examples of Soft Staking products.
Q: When the yield of Soft Staking will be distributed?
A: To protect user interests to the greatest extent, Soft Staking products are calculated daily and profit is distributed the very next day.
Q: What tokens are supported by Soft Staking?
At present, Pool-X Soft Staking supports a total of 26 coins: ATOM, KSM, USDN, TRX, XTZ, ELA, ZIL, TOMO, DCR, EOS, ALGO, NRG, LOOM, VSYS, NULS, IOST, WAN, IOTX, AION, LOKI, NEBL, EOSC, LUNA, PIVX, ONION, and DAI. Pool-X is always looking to support more coins to meet the financial needs of even more users.
Q: What are the advantages of Soft Staking?
Compared with traditional Staking, it’s more flexible. Users do not need to stake to earn a return, and they can withdraw assets at any time and without a redemption waiting period, ensuring maximum liquidity.
Compound interest. The returns from Soft Staking will be distributed to Pool-X accounts on a daily basis. In cases where the user does not withdraw, the daily returns will be included in the user’s Soft Staking share, and their income will be accumulated.
Q: How do you Soft Stake on Pool-X?
A: It only takes two steps to start Soft Staking. To more clearly demonstrate the process, we will use a KSM Soft Staking product as an example:
Step 1: Click [Soft Staking] and select the coin;
Step 2: If the corresponding coins aren’t in the user’s account, click [Deposit] and follow the pop-ups on the page to continue and deposit the coins to the corresponding address;
If the corresponding coins are in your KuCoin account, click [Transfer], fill in the amount, and click Confirm.
If you have any idle assets sitting around, come over to Pool-X to experience Soft Staking.
If you haven’t got a KuCoin account yet, you can sign up here!
Making Money While You Sleep ③ | The Simplest Way To Earn Passive Income — Soft Staking was originally published in kucoinexchange on Medium, where people are continuing the conversation by highlighting and responding to this story.
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