How to stake CCX tokens?

Do you want to know what crypto staking is? It’s a process that has many benefits. Read this article and learn more about it, especially for the CCX tokens of the CoinCasso crypto exchange platform.

What is staking?

Stacking is a process that is based on freezing your crypto or stock market funds. The main purpose of this activity is to support blockchain networks. Thanks to this you can receive various, additional benefits.

Stacking is simply a procedure that blocks access to a certain amount of a given coin or token for a certain period of time for which you can receive reward. Most often this process is used directly by the users of a given blockchain network via a private wallet crypto or stock exchange. Currently there are many models that allow staking.

Staking – action

In some blockchain networks, the reward for staking funds is a certain value, which is expressed as a percentage and related to the inflation rate. This system makes the holders of the funds concerned want to use them. In addition, this procedure allows to mitigate operating costs, which are a consequence of using the network of all token holders.

It is up to the network member to decide whether he wants to freeze his funds. Staking is an additional activity. It can be done, but it is not necessary to use the network.

What is a CCX token?

CCX tokens work similarly to other assets of this type, but have many additional values for the users of the exchange. Token owners can participate in the creation of a company, the additional one can count on a reduction of transaction fees and earn money together with the platform. CCX tokens are based on the most popular and advanced ERC20 protocol.

The basis of tokens is blockchain Ethereum, which is relatively fast compared to other alternatives. Thanks to this technology, it is possible to implement a token for all payment processes and each of our sites without limitations. The most important goal of CCX tokens is to ensure free trade and exchange of funds between users.

How to stake CCX tokens?

The staking of CCX tokens involves the user retaining funds in a verified wallet for a specified period of time. This gives you access to participate in the life of CoinCasso and the possibility to receive additional profits. This option is only available to authenticated users.

If you want to stake your CCX tokens, you must lock them in a special wallet that is available in the exchange user profile. After a certain period of time, which depends on the amount of assets you have, the tokens will bring you the appropriate benefits.

Reward and functions of owning stake ССХ tokens:
• 80% of the exchange platform profits are distributed among staking CCX owners.
• Reduction of commission for transactions depending on the amount of staking CCX tokens owned.
• The right to vote on order of tokens to be added to the exchange platform.
• The right to participate in voting for the structural changes of the CoinCasso 2.0.
• For holders of a large amount of stakingfrozen CCX tokens – exclusive invitations to events and material rewards.
• For holders of a large amount of staking CCX – possibility of adding a token for community vote to add it to the exchange.
• Opportunity to participate in other CoinCasso projects.

Why use it?

The increasing number of options that allow participation in the process of securing blockchain networks and the progress of staking mechanisms may make the barriers to entering the crypto ecosystem lower. This is a process that offers many benefits for both parties. It is therefore worthwhile to take advantage of the staking of CCX tokens on the CoinCasso exchange and grow with the platform.

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