Hello to all you cryptocurrencies lovers, novices and experts.
Let me introduce you to this Ultimate Guide for Staking Rapids ($RPD).
I'll explain:
What is Staking?
What are the benefits?
How and where to Stake your Rapids (RPD)?
How to get your first Rapids (RPD)?
Do you know what staking is and why everyone is interested in it?
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 allow for faster transactions on the blockchain, it also allows you to support and participate in the proper functioning of the blockchain. The process is called Proof-of-Stake (PoS).
The purpose of this PoS Consensus Protocol is :
To significantly reduce the energy costs associated with the maintenance of the Blockchain
Offering more Security
Provide Enhanced Scalability (i.e. the system continues to operate normally as the number of users increases)
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?
What are the benefits?
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:
Which platform allows Staking?
Which platform accepts Rapids (RPD)?
What is the ROI (Return on Investment) of this cryptocurrency announced by the platform?
What is the cost of the platform?
Does this platform offer compound interest or not?
What kind of security do the different platforms offer.
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.
January 1st 2021 - I should earn $1000
January 1st 2022 - I should earn $1000
And the next three years $1000 a year.
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.
January 1st 2021 - I should earn $1000
January 1st 2022 - I should earn $1100
January 1st 2023 - I should earn $1210
January 1st 2024 - I should earn $1331
January 1st 2025 - I should earn $1464
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:
Day 1 → 1,000,000 RPD +0.097% = 1,000,970 RPD
2nd day → 1,000,970 + 0.097% = 1,001,940.94
3rd day → 1,001,940.94 + 0.097% = 1,002,912.82
………………….
30th day → 1,028,515.35 + 0.097% = 1,029,513.01
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.
But where can I Stake my Rapids (RPD)?
Here to help you is a list of some Staking Platforms, applying compound interest
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*****************'.
And finally, How to acquire your first Rapids (RPD)
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:
Boa Exchange with the pairs: RPD – BTC/ETH
Block DX with the pairs: RPD – BTC/BLOCK/LTC/ETC
Cryptofuse.online with the pairs: RPD – BTC
SWFT Blockchain with the pairs: RPD – BTC/ETH/LTC/ETC
TokenHouse with the pairs: RPD – BTC
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).
Once registered, go to "Settings", "Edit profile", add your first name or a nickname and on "Username" you must indicate a Username with at least 5 characters which can be the same as your nickname (if it is not already used by another person on Telegram).
Click on "SAVE" and you will see your Username in the form @*****
Take the opportunity to add an image or a photo by clicking on "SET PHOTO PROFILE".
These two steps: Username and Photo Profile are important.
You can click on the cross at the top right, and all your information will be saved automatically.
You will then be able to join our Channels:
The first to join is Rapids Official: https://t.me/RapidsOfficial (The main channel, where all the information is available).
Then Rapids ($RPD) Tipbot: https://t.me/rpdtipbot (here you can interact with the whole community and have some fun)
Also join the Channel Rapids Community Group: https://t.me/EarnRPD (This is where we post all small tasks to be done by the community).
As well as Rapids Announcements: https://t.me/RapidsNews
And the 5th Channel not to be forgotten is TeamRPD: https://t.me/TeamRPD (Our gamer community).
To add your RPD address to the Tipbot and receive RPD (in the way of rains and tips) Go to the "Search" tab and write @rapids_tipbot and click on "Rapids Tipbot".
Click on "/start"
Go and get your RPD address 'R*****************' on the Staking platform you have chosen.
Then write /myaddress R*****************
Press "Enter"
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 @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.
Join us on Telegram - Twitter - Facebook - MeWe - Instagram
Resources