There are two groups of crypto owners, the speculators who just buy and sell cryptocurrency for profit. And we have those who stake their cryptocurrency for rewards.
Staking your crypto allows you to earn passively without having to sell your coin for short gains. Merco provides a simple and effective way to stake your crypto and earn some reward.
Merco provides some blockchain protocols to allow participants to earn extra cryptocurrency by contributing to the network. Participants can earn their rewards in different ways including staking and inflation. Merco participates in these networks and in time distributes the rewards to participants who are eligible either by staking or inflation.
You can stake your Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies. You can also stake your coins on a prorated basis. This means that you only stake a certain percentage of your coins, based on the total number of cryptocurrencies you hold. This allows you to keep a larger percentage of your coins, while still earning rewards.
How Staking in Crypto Works in Merco:
Staking allows you to participate in transaction validation which is in some way similar to mining on a proof-of-staking (PoS) blockchain. If you meet the minimum required cryptocurrency you can validate transactions and also earn staking rewards on MERCO.
When you meet the minimum balance, a node will then deposit the amount of crypto into the network as a stake, at this point, you are essentially locking them up in a secure contract. You will receive rewards based on the number of Staked token that are held by the network at any given time. The more Stake tokens that are held by the network, the higher your reward will be.
To earn passive rewards from staking your cryptocurrency, you’d be required to commit your crypto asset to support a blockchain network, like Ethereum, Bitcoin, etc., and also confirm the transaction. Your coins are basically still in your possession even after you stake them. By staking them, you are only just putting your coins to work and you are allowed to unstake them at any time. The unstaking process may not effect immediately with some platform or coin. It usually takes a few minutes to unstake. The amount of time it will take will depend on the platform or coin you are using.
There is no risk involved with staking your coins on MERCO. The only risk is if the value of your coin falls below the price required by each pool at the time of your staking. In this case, you would not earn any rewards. There are many different ways to stake your crypto on MERCO. We have made it simple and easy for you to find the best staking opportunity for you. You can start by downloading the signing up on MERCO Bank and finding an available staking opportunity through your assigned account officer. Or, you can visit our website to learn more about each individual staking option.
How Does Earning Rewards on Merco Work?
When you stake your coins with MERCO, you are helping us to build the next generation of blockchain platforms. In return, you can earn rewards every day. The number of rewards that you earn will depend on the pool that you are staking your coins. Each pool has different rewards rates, so it is important to choose the pool that is best suited to your needs. Consulting a MERCO Account officer helps to explain profitablity and return rate.
To earn rewards on Merco, you need to have coins that are staked in one of our pools. When you stake your coins with MERCO, we will add them to one of our pools. The pool that you are staking in will determine the rewards rate. Each pool has different rates, so it is important to choose the pool that is best suited to your needs. The Merco app will show you the current rewards rate for each pool.
When you stake your coins on Merco, there is a risk that the value of your coin may fall below the minimum stake requirement. If the value of your coin falls below the minimum stake requirement, we will automatically move your coins to a lower reward pool. If you do not want your coins to move to a lower reward pool, you can increase the minimum stake requirement.
How Do I Withdraw My Rewards?
When you earn rewards on Merco, they are automatically added to your account wallet address. You can withdraw your rewards at any time by sending them directly to your external wallet address or exchange.
The maximum withdrawal amount per day is limited to the equivalent of $5,000 USD, however you can increase this limits to over $100,000 by completing the KYCverification required. If you make a withdrawal request that exceeds this limit, we will cancel your withdrawal and refund you the overage fees.
How Do I Change My Pool?
When you first stake coins on Merco, we will add them to one of our pools. You can change your pool at any time by sending us a message.
If you change your pool and your coins are not yet eligible to earn rewards, we will move them to a lower reward pool. If you do not want your coins to move to a lower reward pool, you can increase the minimum stake requirement.
Can I Withdraw My Rewards Before They Are Earned?
No, you cannot withdraw your rewards before they are earned. Once you have earned rewards on Merco,