How to stake Romacoin and earn interest?
The moment you acquire Romacoin it becomes an interest bearing asset with up to 10% return per year through PoS minting. All you have to do to earn with this method is to hold coins in your Romacoin-QT wallet. To earn interest through PoS minting Romacoin, follow the below steps:
Download Romacoin wallet
In order to mint POS Romacoin coin, you’ll need a Romacoin coin wallet. You will need to wait for the blockchain to download if this is your first time using the wallet. Be patient it can take awhile.
Start staking Romacoin in wallet
All you have to do to earn with this method is to hold coins in your Romacoin-QT wallet. Your earnings are based upon the number of coins, or “stake,” you hold in wallet software. The more you hold, the more you are likely to earn.
Encrypt your wallet with password (optional)
- Ensure your wallet is encrypted with a good password. A secure password is needed to ensure your coins are safe.
- The wallet encryption option can be found under the settings tab in the Romacoin-Qt wallet program.
- Keep a copy stored somewhere safe or do not forget it, if you do your coins are lost forever.
Backup Romacoin wallet
Open your Romacoin wallet and click on file --> backup.
Congratulations! Your Romacoin wallet is staking
You can check the minting status of the wallet by looking at the transaction window.