Can anyone explain How this works?

[BlokbizICO]

I recently read about PayAccept having some kind of staking system active from 1st August - https://www.payaccept.net/pay-stake

I read about it a lot from Telegram groups where people join and share about this but I am not able to understand how does it work? I tried from that above link but did not understood. Anyone using it? Please tell me how does this work?

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[1715231358]

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[Lordhermes]

I recently read about PayAccept having some kind of staking system active from 1st August - https://www.payaccept.net/pay-stake
I read about it a lot from Telegram groups where people join and share about this but I am not able to understand how does it work? I tried from that above link but did not understood. Anyone using it? Please tell me how does this work?

Every project should has an admin that attends to investors questions, you can relate with the admin on telegram for more understanding, although I'm not promoting the project. Would advice you to kindly go back to the telegram group and ask the admin for better understanding of the project.

[semobo]

I recently read about PayAccept having some kind of staking system active from 1st August - https://www.payaccept.net/pay-stake

I read about it a lot from Telegram groups where people join and share about this but I am not able to understand how does it work? I tried from that above link but did not understood. Anyone using it? Please tell me how does this work?

You have to hold Paytokens in your wallet to avail staking and for that you will get 10% annual returns and also they offer something only for 10 slots which needs 45K tokens and will give 50% as returns which seems shady to me.Better visit their ANN if it exists in bitcointalk to find the legitimacy of the staking process or its officially launched by the project team.

[Slingshot]

What I read about the whole staking stuff seem unclear to me but for the fact I never put mind into it for now made me not to go further investigating. I will definitely do my research when I get funds to invest but you asking this question should join the telegram group and ask any admin especially the group creator so as to have more insight.

[ryzaadit]

Proof of stake (pos) means you will have to hold (locked) certain amount of tokens into your wallet, these tokens will validate transaction within the blickchain and you will get rewards as interest. You have to keep your wallet open for 24/7. Pos reward depends on your size of the bag. The more you hold, there will be more chance of getting reward

It's not a coin and it's not really the same POS when you need open your wallet 24/7.

The stake system was based lock and hold on the ethereum address, more longer you hold the token/lock then more token to be generated called "minting". I believe the maximum you can be mint it's 90 days, so you need to mint before 90 days passed. The system could be same as POS Token a few years ago when someone created this type of project but failed because bad decision on the team.

[bhadz]

What's your aim? to become the biggest holder? I doubt that you can be one of them if there are only ten slots for that. They are only giving 10 slots for the biggest holder that shall receive 50% profit annually and that's big for incentive with that limited slot. But for the normal stakes, you will get 10% annually. The instructions are cleared and defined well on that website but the 50% profit for me seems too high.

[IvugeoEvolutionCoin]

I recently read about PayAccept having some kind of staking system active from 1st August - https://www.payaccept.net/pay-stake

I read about it a lot from Telegram groups where people join and share about this but I am not able to understand how does it work? I tried from that above link but did not understood. Anyone using it? Please tell me how does this work?

Like you mentioned the staking program begins on 1st August, so not yet. When staking begins you can join the staking directly from your Payaccept wallet by holding PAY. While this helps in minting PAY tokens, you get rewarded for holding your tokens throughout a given duration. Staking is cool only if you have long term investor mindset and wish to add more tokens to the ones you are holding.

[chikator]

I recently read about PayAccept having some kind of staking system active from 1st August - https://www.payaccept.net/pay-stake

I read about it a lot from Telegram groups where people join and share about this but I am not able to understand how does it work? I tried from that above link but did not understood. Anyone using it? Please tell me how does this work?

I think its better for you to ask the admin of that telegram group. Im not familiar with that system, just ask the admin im sure they'd be happy to answer you.

[Little Mouse]

I recently read about PayAccept having some kind of staking system active from 1st August - https://www.payaccept.net/pay-stake

Staking is very simple. You hold some fund in the wallet, keep your wallet active and get rewards. In case if PayAccept, you will get 10% reward per year of your total holding. If you want to PayNode holder, you must have to hold 45000 coin you will get 50% per year. However, it seems not a good approach. I doubt it would be a good one.

[Yaunfitda]

Right, this is what we call staking,

What is staking?
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.

source: What is staking?.

The problem is, how legit PayAccept though, recently there has been a surge of this staking + Defi and it's just a matter of time before someone takes advantage of it and scam people, it will be IEO 2017 all over again.

[Python Master]

You can understand it in simple way as you make a savings deposit in bank and receive interests from it. In crypto you will make a savings deposit in crypto form and receive back cypto as interests. You must know that crypto staking is much danger than bank savings because your crypto is not guaranteed, it may become valueless when crypto project scam

[someone703]

Never heard of this project, but if you want to learn about the project, you need to read their white paper. And if you do not understand it is best to ask the administrator at telegram. Your questions will be answered in the most accurate way

[shoreno]

 thats impossible if you cant understand because you already visit thier site  and read alot of stuffs  . are you new to crypto ? if yes then  your brain isnt ready for this  .  why not start first on the easier to understand projects before proceeding on the hardest   .

 i havent visit the link yet but is this related to paypal?  ive been waiting  for them to release thier verry own crypto project and the name payaccept reminds me of them  .

[KimmyF]

PayAccept is very promising projects but the same types of promise projects died several times. Recently they confirmed two more exchanges listed. After everything, this project is very new. I advise that the same proof of staking rewards can offer old projects. Old projects are always safer than new projects. Even if someone is interested in staking, then they can visit official websites and telegram groups.

[StreakW]

You have to hold Paytokens in your wallet to avail staking and for that you will get 10% annual returns and also they offer something only for 10 slots which needs 45K tokens and will give 50% as returns which seems shady to me.Better visit their ANN if it exists in bitcointalk to find the legitimacy of the staking process or its officially launched by the project team.

Only for 10 slots and will give 50% as returns? That's to much and i think 10 already filled by team themself. System like this not good for project, many people will talk negatively about an unfair stake system. Many people think this is great project but for me i will stay from an unfair project like this.

[rodskee]

You can understand it in simple way as you make a savings deposit in bank and receive interests from it.

This is just a simple comparison on how things works regarding to this
kind of investment, it's just a little
similarities in ways of you'll be moving your money into this of staking
system.

In crypto you will make a savings deposit in crypto form and receive back cypto as interests.

Just the same on how fiat works, deposit investment with fiat and you'll
also expect to receive your earnings in fiat.

You must know that crypto staking is much danger than bank savings because your crypto is not guaranteed, it may become valueless when crypto project scam

This where things are different, in banks your money is insured not unless
some major things happened where banks collapse
you'll only received little portions of your investment, while into crypto space
the chance that everything will turned to nothing once the project developers
start to runaway causing the entire value of your
assets turned to zero, you don't have any assurance or whatsoever so you
need to be very careful before investing in.