Decentralized exchanges are the future of cryptocurrency trading. Most of us use exchanges like Binance, Bittrex, Bitfinex which are centralized exchanges.
Sudhir has explained about Centralized and decentralized exchanges in detail here. Crypto-bridge is one such decentralized exchange that offers their own coin called BCO (Bridgecoin).
Just like BNB coin by Binance, when you use BCO to trade on their exchange, you save a considerable amount of money in the trading fees. In recent times, they have released a lot of developments and the crypto world is feeling positive about this exchange.
The only thing I would like to see this exchange do more is the volume which is considerably low, something common in all decentralized exchanges at the moment. For now, you can see the BCO listing on CoinMarketCap here.
You can read more about Proof of stake here:
To reward its initial users, Crypto-bridge has come up with a staking reward program. Under this program, 50% of all trading profits on CryptoBridge will go To BridgeCoin stakers.
In this guide, you will learn how you can stake your BCO coin to earn staking reward. If you don’t have BCO yet, you can get it from Crypto-bridge exchange using BTC.
Complete tutorial to learn Staking BridgeCoin (BCO) on Crypto-Bridge
There are a few things that you should know before getting started with BCO staking.
Once you stake your BCO coins, you will not be able to withdraw it. Your rewards depend on the period for which you stake the coin.
- 1 Month (0% Bonus)
- 3 Months (20% Bonus)
- 6 Months (50% Bonus)
- 12 Months (100% Bonus)
During the staking period, you will automatically receive bi-weekly payouts to your account on CryptoBridge. The longer you stake your BCO the higher your staking factor(bonus) will be. Staking for 3 months gives you 20% more additional BCO during staking.
If you stake your BCO for 12 months, you would essentially be staking 200% (2X) your BCO. You can learn more about their Staking terms and payout here. Once the staking period is over, you will be able to use your original staking amount.
Earlier cost for BCO staking was 45 BCO and now it’s reduced to 0.2 BCO
Staking Fees Reduced to Less than 0.2 BCO! – https://t.co/ShNTM8EiJI
— CryptoBridge (@CryptoBridge) January 9, 2018
Here is a video tutorial on the BCO coin staking process:
To get started with BCO Staking, follow the steps mentioned:
- Login to Crypto-bridge wallet web interface here
- Click on account from the menu
Select the quantity that you want to stake and also the duration of staking.
Click on ‘Create a new BCO Staking Position‘ and confirm the same in the pop-up. Notice that staking costs a fee so you should better stake in one go rather than creating multiple staking.
You will also get a confirmation message as a browser push notification. However, if you don’t see it, you can refresh the page and you will see your current staking position that would look like this:
Well, that is it. After you’re done with the steps above, you can wait for the bi-weekly payouts. As the volume on the exchange increases and if it increases exponentially just like overall cryptocurrency industry, your vested amount can generate a great deal of money.
Apart from investing in cryptocurrencies, staking is another great way to make most of your investment. We had covered a guide on some of the popular proof of stake coins earlier. You can read about it here:
Also, let me know which decentralized exchanges (DEX) you follow and hope it grows in the years to come.
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An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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