STAKING POOL FAQ


How to sign up?

Simply and easy. Just fill the form and use your valid e-mail. If you would like to withdraw your coins please confirm your email.


Is it free?

Yes, joining the Staking Pool is free but there is a 5% fee for stake rewards.

This fee goes toward funding developers and maintaining the staking pool infrastructure.


Where can I find information about my staking balance?

Your current balance, deposit address, pending coins, and withdrawal history are shown at the dashboard. The Dashboard is the main place in case if you would like to manage your account.

From the staking pool home page, you can access the dashboard by clicking Account —> Dashboard.


How to start staking?

  • Use your wallet (GUI, CLI or exchange) to send coins to your Deposit address (you can find and copy it in Dashboard).
  • Copy the Deposit address and transfer coins from your actual wallet to this Deposit Address.
Attention should be paid that if you send coins to a wrong address the transaction couldn't be reverted.

Once you make a deposit, wait for 800 blocks (approx 26 hours) to get the first staking reward. Each user gets a proportional share of every block that the staking pool wallet forges. More info on CUTcoin staking can be found here.


Is there a minimum amount to start staking?

No, any amount of coins can be staked in the pool.

There can, however, be a delay when withdrawing a large number of coins.


What are the risks of joining the pool?

Joining the pool comes with the standard risks of using a custodial service. There is also a risk that your transactions may be affected by system failures resulting from adverse events, natural disasters, and other emergencies and unforeseen significant changes in the external environment. With regard to any loss due to occurrences such as emergency situations and Force Majeure events, Staking Pool is under no obligation to take any corrective actions or measures.


Do I need to run Staking pool 24/7? Will it work without Internet access?

Users themselves need only deposit to the staking pool and the pool does the rest. This is a major advantage of staking in a pool; the user does not even need to have her computer on in order to receive staking rewards. Just check in whenever you want to see how much you've gotten in rewards, and withdraw whenever you feel like it.


How will my stake earn?

The Staking pool allows stakeholders to combine their stakes and form a single entity, the stake pool, which can engage in the PoS protocol using the total stake of its members. The chance to become the creator of the next block is proportional to the share of cryptocurrency belonging to this participant from the total amount.

You can calculate possible stake rewards with the PoS calculator. This means that by participating in the Staking pool, the user will get a more steady stream of rewards than by staking alone.


Where can I see pending coins?

At your Dashboard —> Pending. Easy.


What is a Confirmation Token? Why do I need it?

In order to prevent coins loss and suspicious transactions, you need to get Confirmation Token for withdrawal.

Get Confirmation Token button at your Dashboard to receive it. Within a few minutes, you will find a letter with the token at your inbox (which is why we ask users to confirm their e-mail address). Check spam if you haven’t received it. The token is valid only for 20 minutes.


How to withdraw coins?

You can find the Withdraw button at your Dashboard. Use your Confirmation Token (instruction how to get it you can find in the previous question). Make sure to use a valid withdrawal address.

If you will send coins to the wrong address the transaction can't be canceled.

For the bigger amount transaction, you will need more time to proceed.
Remember there is a fixed comission 0.1 CUT per every withdrawal.


Where can I go for more help?

If you run into trouble, unsure about how to proceed, or completely stumped, feel free to contact with us.