Hello to all you cryptocurrencies lovers, novices and experts.
Let me introduce you to this Ultimate Guide for Staking Rapids ($RPD).
I'll explain:
Staking, roughly speaking is a financial practice which consists of holding some Rapids (RPD) coins for a certain period of time, allowing you to generate a constant passive income (Which we can also name 'Crypto-dividends' or 'Interests'). While knowing that your Rapids (RPD) are not permanently locked in and you can access them and the generated interest at any time.
Staking, technically speaking is a method of validating blocks and transactions on the blockchain, it also allows you to participate in the proper functioning of the blockchain. The process is called Proof-of-Stake (PoS).
The purpose of this PoS Consensus Protocol is :
Staking became very popular in the second half of 2019 and is currently the best alternative to trading and generating a sustainable passive income. According to specialists, this form of investment will be the real trend of 2020.
Why should you let your Rapids (RPD) just sit in a wallet when you can let them sit in a staking wallet and receive rewards?
The most important advantage and benefit for whoever has already started staking or in the process of thinking about staking your Rapids (RPD) is of course for financial gain.
Although the process of staking is slightly complicated, Rapids has provided several different methods to simplify everything for the end user.
You deposit your Rapids (RPD) and let the system do the work.
But before embarking on this financial practice you will still need to do a little research, which is as follows:
First of all, let's come back to the term 'Compound Interest'. While banks today drastically reduce the 'Standard Interest' on investments, it's very interesting to look at Compound Interest, which is more applicable with Cryptocurrencies.
The difference between 'simple' and 'compound' interest.
Simple interest does not allow the reinvestment of the earned interest . However, compound interest reinvests the earned interest but in general it's only done once a month, whereas for cryptocurrencies it is done daily.
For example, we will use a fiat currency system.
1st case → On January 1st 2020 I invest $10,000 at 10% a year (Simple interest rate) for 5 years and I do not touch the money.
At the end of the 5 years, my $10,000 invested, on a simple interest basis, will bring me $5,000 or 50% profit.
2nd case → On January 1st 2020 I invest $10,000 at 10% yearly (Compound interest rate) for 5 years and I do not touch it the money.
At the end of the 5 years, my $10,000, invested on a compound interest basis is therefore earning me $6105 or 61.05% profit, which shows that reinvesting the interest is much more profitable than not investing it.
It's still better to invest with compound interest don't you think?
As Albert Einstein himself said "Compound interest is the 8th wonder of the world. He who understands it….earns it. He who does not understand it….pays it".
Now let's apply that to the cryptocurrency we're interested in, Rapids (RPD).
You wish to make a first deposit of 1 Million RPD (currently $32.85), at a yearly rate of 35.54% (knowing that this rate can vary slightly). To facilitate this calculation, we will divide this rate by 365 (number of days in the year), we thus arrive at 0.097% of daily profit.
This is what happens in a month:
So in one month of compound interest you will earn 29,513.01 RPD without doing anything.
If you wanted to stake your Rapids (RPD) for 5 years how much do you think you will earn?
Based on the same data, 1 Million RPD as initial investment at a yearly rate of 35.54%, and let the compound interest work for 5 years (1825 days + 1 day because there will be a leap year) you would have the following:
5,385,678.56 RPD ( the calculation gave me a total of 4,872,976.18. From this amount I arbitrarily deduct 10% which corresponds more or less to the fees of the platforms and I add the basic initial investment)
We arrive at an x5.3 on the initial investment for just being patient! Isn't life beautiful?
And just for fun, after 10 years (3650 + 2 Days), how much do you think you will receive?
(Still using the same numbers and deducting fees) 30,142,663.97 RPD
Conclusion…... 10 years of Staking Rapids (RPD) will make you gain 30 times the initial investment!
These numbers may make you dream, even make your head spin or you find it hard to believe? Well you're not dreaming! This is what compound interest is (Can you imagine doing this with Dollars?).
Use this online calculator to make your own simulations.
It's up to you to choose the platform that will be most profitable for you.
Here to help you is a list of some Staking Platforms, applying compound interest
You can also use the Core Wallet for staking your Rapids (RPD), unlike Staking platforms (where there is no minimum deposit amount) Rapids Core Wallet requires at least 1 Million RPD to activate the Staking function, but on the other hand the fees will be drastically reduced.
If you use the Core Wallet, it is necessary to have it always open on Computer and that the computer is always turned on (so the reduction in costs is compensated by the increase in energy consumption), whereas online platforms as long as you have made your Rapids (RPD) deposit, you are not obliged to stay on the site or have to leave your Computer on.
For Staking platforms, this just requires a registration on the website. Filling in the requested information and then go to its 'Dashboard', 'Profile', or 'My Account' section and search for 'Rapids (RPD)', the address is in the form 'R*****************'.
For Rapids Core Wallet, you must go to the Rapids Network website, click on 'Wallet' and then choose the Wallet according to your operating system.
Once it's downloaded, click on it. The wallet will install itself, you'll just have to wait a few minutes for it to synchronise with the Blockchain. As soon as the loading is finished you just have to click on 'Recieve' and then 'Request Payment'. A pop-up window will open with your RPD address in the form 'R*****************'.
There are several ways to get your first Rapids (RPD), the first being to buy them. If you have some Bitcoin or Ethereum you can easily exchange them for RPD on these exchange platforms:
You could also join our community on Telegram and Discord but for the moment I'm only going to talk about Telegram.
Being active in the community allows you to win some Rapids (RPD), you can support us in anyway you want.
Talk about Rapids Network on Social Networks, write articles, make short instructional videos, participate in activities and games proposed by the community. You could also help us by filling in the small tasks that we submit regularly, it's thanks to all these small actions that the community will continue to grow and always provide you with the best of Rapids
Telegram is a chat application for Mobile, but also for computer, you can download it on your store (Google Play Store, iOS, Windows), for Computer (PC/MAC/LINUX and macOS), there is also a version for Browser.
Once downloaded, you need to register with a phone number and a password (keep your password in a safe place).
You will then be able to join our Channels:
Your RPD address will be automatically registered and you will be able to start receiving Rapids (RPD) via Tipbot directly on this address. To check your balance just go to u/rapids_tipbot and write /bal
You're finally ready to enjoy great adventures with us and all the Rapids communities, whilst taking full advantage of Staking of your Rapids (RPD)
Thank you all for your support
See You Soon.
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