TABLE OF CONTENTS
Instructions
How to enable Staking
How to fund Staking supported coins and tokens
How to view Staking rewards details
How to use the Staking filter on the Account page
How to disable Staking
Staking in Details
What is Staking
What is Proof of Stake (PoS)
Detailed Staking Terms and Formulas
Reward
Daily Reward
Minimum Daily Balance
Current Day Minimum Balance
Total Balance
Minimum Holdings
Avg. Staked Balance
Annual Yield and Estimated Annual Yield
Payout Frequency
Lock up Period
Fees
Coins and Tokens
FAQ
How frequently will I receive Staking rewards?
Can I trade and withdraw while Staking?
Which coins do currently support for Staking?
What is the minimum Staking period requirement to earn rewards?
What is the minimum Staking holdings requirement to earn rewards?
Do I have to pay any fees to use Staking?
Is there a lock-up period for Staking?
Instructions
How to enable Staking
To enable staking you need to click Enable Staking button.
Staking page
In order to be able to stake, you have to complete account verification and enable 2FA, a notification will be show otherwise.
Staking page. Enable Staking dialog
When both conditions are met, click Enable Staking button.
When Staking is enabled, the ON label appears on the https://hitbtc.com/staking page.
Staking page
How to fund staking supported coins and tokens
Once you enable staking, you need to fund staking supported coin or token to start staking. There are 2 ways to do that: (1) deposit your account or (2) exchange your funds.
1. Click Deposit icon to fund the staking supported coin or token.
2. Click Go to trading to open the Exchange page and buy a staking supported coin or token in the usual way.
How to view staking rewards details
In the staking rewards details, you can find out the Min. Daily Balance (Fig. 1) on which the rewards were accrued during the period, the Daily Reward—the amount of rewards for the day (Fig. 3), as well as the Reward—the amount of rewards paid at the end of the staking period for the whole period (Fig. 2).
On the Staking page, click the value in the Avg. Staked Balance column to view the Min. Daily Balance of the current staking period. Please visit the Staking Support page to learn more about calculation of Min. Daily Balance and Staking Rewards.
Figure 1
The history of staking reward payouts is displayed on the Reports page on Staking tab.
Figure 2. Reports page. Staking tab
Click the value in the Avg. Staked Balance column to view detailed information about rewards calculation.
Figure 3. Staking page. Avg. Staked Balance dialog
How to use the Staking filter on the Account page
Check Staking assets checkbox to display only staking supported coins and tokens.
Account page
How to disable Staking
Click Disable Staking button on the https://hitbtc.com/staking
Staking page
Click Disable Staking button again on the popup to confirm Staking disabling.
Staking in Details
What is Staking
Staking is the process of holding cryptocurrency to verify transactions and support the operations of a proof-of-stake blockchain network. Simply put, staking is the act of holding cryptocurrencies to receive rewards.
What is Proof of Stake (PoS)
Proof of Stake (PoS) is a type of consensus mechanism blockchains can use to agree upon a single true record of data history. Whereas in Proof of Work (PoW) miners expend energy (electricity) to mine blocks into existence, in PoS validators commit stake to attest (or “validate”) blocks into existence. Proof of Stake (PoS) concept states that a person can validate block transactions according to how many coins he or she holds.
Detailed Staking Terms and Formulas
Reward
Staking Rewards are calculated daily and distributed according to the Payout Frequency on the https://hitbtc.com/staking . Once you enable Staking, we start to take live snapshots of user stacked coins and tokens balances. In order to earn the Staking Reward you need to hold funds on the balance at least for 24 hours starting from the next day after enabling Staking. The Staking Reward is credited when the Minimum Daily Balance is more than Minimum Holdings.
Reward = Avg. Staked Balance × K × Annual Yield / 365 ,
where K—the number of days in the current staking period when Staking was turned on.
Daily Reward
Reward for a specific day.
Daily Reward = Minimum Daily Balance × Annual Yield / 365
Minimum Daily Balance
The minimum Total balance for a specific day.
Current Day Minimum Balance
The minimum Total balance of the current day.
Total Balance
Total Balance = Main Balance + Trading Balance + Balance in Active Orders
Minimum Holdings
Minimum Holdings is the minimum Total balance required to receive Rewards. The minimum Staking holdings depends on the coin or token. Please visit https://hitbtc.com/staking to see the current list of minimum holdings for all coins and tokens.
Avg. Staked Balance
Average staked balance in current staking period on which Rewards will be accrued.
Avg. Staked Balance = ∑ (Min Daily Balance for days when Staking is on) / K ,
where K—the number of days in the current staking period when Staking was turned on.
Annual Yield and Estimated Annual Yield
Estimated Annual Yield is an approximate value of an Annual Yield. Annual Yield will be shown in Staking Reports after the end of the staking period. The Estimated Annual Yield depends on the coin or token. Please visit https://hitbtc.com/staking to see the current list of Estimated Annual Yield for all coins and tokens.
Payout Frequency
Staking Rewards are paid regularly. The Payout Frequency for different coins and tokens may vary. Please visit https://hitbtc.com/staking to see the current list of Payout Frequency for all coins and tokens.
Lock up Period
There is no lock-up period on HitBTC. You can sell or withdraw your staked coins and tokens at any time.
Fees
There are currently no fees for Staking.
Coins and Tokens
The current list of Staking supported coins and tokens is presented on the https://hitbtc.com/staking
FAQ
How frequently will I receive Staking rewards?
The Payout Frequency depends on the coin or token. Please visit https://hitbtc.com/staking to see the current list of Payout Frequency for all coins and tokens.
Can I trade and withdraw while Staking?
There is no lock-up period on HitBTC. You can sell or withdraw your coins and tokens at any time.
Which coins do HitBTC currently support for Staking?
Please visit https://hitbtc.com/staking to see the current list of supported coins and tokens.
What is the minimum staking period requirement to earn rewards?
In order to earn the Staking Reward you need to hold funds on the balance at least for 24 hours starting from the next day after enabling Staking.
What is the minimum Staking holdings requirement to earn rewards?
The minimum Staking holdings depends on the coin and should be not less then 0.0007 USDT equivalent.
Do I have to pay any fees to use Staking?
There are currently no fees for Staking.
Is there a lock-up period for Staking?
There is no lock-up period on HitBTC. You can sell or withdraw your stacked coins and tokens at any time.