I recently wrote a post on how was my initial experience staking different coins on Atomic Wallet. In case you missed the article you can find it here - https://www.publish0x.com/crypto-projects-sams-reviews/my-first-week-of-staking-crypto-xdrdgml
One thing I noticed was that for most of the coins the staking process is pretty easy and straight forward. For some of the coins though I had a tough time getting familiarized with the staking process and faced some challenges to understand it. My intention of writing this post is that you can avoid the mistakes I made initially and don’t have to run around in circles to a hang of the process. Let me give you a step by step breakdown of the entire process and in case you have any doubt or want any further details do let me know in the comments section.
How to Get these Komodo Tokens?
Getting hold of Komodo tokens is not as easy as getting Bitcoin or Ethereum as it is a much smaller project with about $75 M market cap and is relatively new so is not available in many exchanges and the trading volumes are generally low.
In my opinion the best option is to buy some BTC from Coinbase and then transfer them to Binance. On Binance the trading volume for KMD/BTC pair is decent so it should execute in 15-20 mins. Once you receive these KMD tokens you can transfer to Atomic Wallet to start staking.
Don’t make this Mistake while Staking!
When I opened the staking panel for Komodo on Atomic wallet I saw the message that I need to transfer a minimum of 10 KMD tokens to start the staking process. So I made 2 transactions of 5 KMD each and waited for the rewards to start coming. When I did not get anything for over a week I wondered what exactly went wrong and started researching more about the staking process. I realized the minimum of 10 KMD tokens need to be transferred in a single transaction and if they are transferred through multiple transactions it will not be considered for staking . It seemed quite absurd but I decided to give it another shot and transferred more than 10 KMD from my Binance account to Atomic. Now I started getting rewards which gradually keep growing every day.
I plan to buy more KMD during the next market dips as I personally think this project has a lot of potential to grow. I will be doing similar posts and videos for the other coins I am staking like Synthetix, Algorand, Band Protocol, Elrond etc. If there is any token which you think is a good candidate for staking and I did not cover in my previous posts do let me know about it.
In case the embedded video above does not run please use the following link - https://lbry.tv/@Crypto_Sense:1/Komodo-Staking:9
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