How to STAKING with KuCoin | Earn money with your cryptocurrencies

What is Pool-X

Pool-X is a platform that provides liquidity to staking cryptocurrencies. It is a free market state that allows the integration of diversified and multi-node cryptocurrencies on the public blockchain. Users can trade the staked cryptocurrencies on the platform and obtain liquidity. In addition, based on the nature of Pool-X mechanism, the node can establish a connection with Pool-X liquidity trading market to enhance your competitive strength and ultimately gather more node votes.

Flexbile Terms

Here, you will be able to find flexible staking, where you will receive rewards for just holding in assets the cryptocurrencies you can find. Usually you can find different cryptocurrencies, but with little variety and rotating cryptocurrencies that are in flexible.

Here, you should look at the annual % in reference annual yield or 7-day annual yield to see the profitability that you will receive annualized in your tokens. Another reference you can use and kucoin offers us, is the daily amount you receive for placing 10,000 tokens of that cryptocurrency in the cryptocurrency, and below the dollar equivalent. This is very good and serves us a lot as a reference, because if we know what you receive per day with 10,000 tokens of for example, HYDRA, it is as simple as making a rule of 3 with the tokens we have.

If we have 1.000 tokens, and with 10.000 tokens we get 0.85 HYDRA (16.38$), we would be receiving each day 0.085 HYDRA (1.64$).

Finally click on transfer if you don’t have the cryptocurrencies in the pool-x account and you will have your cryptocurrencies in flexible staking earning an interest every day.

Staking

In staking, we find the fixed staking that works in subscription format, where we will subscribe our tokens, and after a certain time, we will be able to withdraw them with the rewards. If you withdraw them early, you will not receive the staking rewards.

In the same way as in flexible, you can find the profitability offered by each cryptocurrency annualized, and here we find the redemption period. That means how long it will take to get back our cryptocurrencies once we stop staking them here or we stop subscribing them.

This is important because sometimes it can be only one day that it will take to get the token back, but others are quite significant times like 21 days or 28 days that we will have to wait, without receiving a reward, since we have stopped subscribing to receive the cryptocurrencies.

It is also important to know that the redemption period often does not depend on kucoin, but on the cryptocurrency network. For example, the terra network, whenever you want to staking Luna and later withdraw your Luna from the staking, either kucoin or other platforms such as terra station, which is the official one, you will have to wait 21 days to receive your tokens. This is a way to encourage staking and discourage selling when suddenly the price rises, since you will have to wait 21 days to get your cryptocurrencies.

In subscribe, you can find all the information before placing your cryptocurrencies. At the top, the amount you want to place and the minimum you must place, other information such as the annual % you receive, the maximum you can stake, for example in Cardano ADA, 500 ADA maximum, how to withdraw your staking, usually you have to do it yourself, when the profits are distributed and daily estimates of profit. To subscribe, you only need to indicate the amount, confirm the box below and click on subscribe. Now you will have your cryptocurrencies generating an annual %.

Keep in mind that there are many staking options, you can withdraw when you want and stop receiving rewards, but always keep in mind the redemption period to get your tokens back.

Promotions

Promotions are for exclusive cryptocurrencies for a period of time, usually 30, 60 or 90 days. Here, you will be able to staking these cryptocurrencies during this period of time and once the quota is filled, no one else will be able to staking this cryptocurrency.

We find the same information as in staking, and the operation is the same with suscribe. Just look at type, where you usually find flexible deposits. Which means, you can deposit your tokens whenever you want and withdraw them whenever you want, as you receive daily rewards. There is no time period where you have to place your tokens and not be able to withdraw them to receive your rewards.

Above you can filter between flexible and fixed. In fixed, you will see the staking period where you must keep the cryptocurrencies during that period to receive the staking rewards. They are usually 100, 90, 60 or 20 days, depending on the project. Also, the staking fixed or blocked, usually fills very fast the quota, because they are usually projects with great support and high annual % during that period of time offered by KuCoin.  

What is POL

It is possible that if you do staking in kucoin, you will find this token that you will receive as a reward and you will see that it has use in certain parts of pool-x.

POL (Proof Of Liquidity) is a decentralized token issued by the Pool-X exchange based on TRON’s TRC20 protocol. It has the nature of zero reserves that are provided to the team or any individual in advance. Playing a substantial role in the Pool-X ecosystem, POL serves as a bridge between tokens that are in play and those that are in circulation, paying with it allows users to get instant liquidity even when cryptocurrencies are in staking. POL is an incentive for participants to help balance market volatility and green governance, as well as fuel to extract resources from the Pool-X system.

If you head over to Exchange, you can see the use of POL, which allows you to exchange between P2P users locked cryptocurrencies in staking in a free market. Just as you can buy and sell cryptocurrencies, you can buy cryptocurrencies already staked or sell your own to other users. This allows even with staked assets, you can sell them and adds more liquidity options to users who are staking their cryptocurrencies.

Other Alternatives

Finally, let’s take a look at other alternatives for staking your cryptocurrencies. It is possible that in KuCoin you do not have the option of staking the cryptocurrencies you have, or some of them. Or you may want to look for other options that can offer you better staking options and more profitability. Other good alternatives for staking your cryptocurrencies are:

• Binance: The #1 exchange in the world and with many staking options, either flexible or blocked. Although you can find better annual % in some cryptocurrencies in other exchanges, Binance usually offers staking of most cryptocurrencies and good annual %.