POS Coin - Komodo

[AquaViki]

An ardent staker, I am interested a lot in staking and always on the look-out for POS (Proof of Stake) Coins. One time effort and then it builds on itself while we HODL. 

My intention in creating this topic is to promote more people into sharing their experiences with coins that they have successfully staked and are gaining benefit out of it :). This will benefit me to have more information on the coins out there which I should be adding in my portfolio.

I am still not very experienced in the crypto world. My first crypto, I gained was 0.00000022 BTC from a faucet. And then i just kept on collecting any coin possible :). Reading up white papers and learning from the experiences people share on forums. 

The cons with some of the previous stake/POS coins is you have to keep the wallet running 24 x 7 and maintain good balances in order to receive a few rewards. Another option for these was to shift balances to a stake pool to start gaining an increase to our low balances. But then you would be compromising by entrusting it all with the pool. 
Very glad to mention that some of these issues are being addressed and one such POS coin to reduce the cons is Komodo (KMD). 

Official Website: https://komodoplatform.com/
You may check the price at https://coinmarketcap.com/currencies/komodo/

KMD is a unique type of Proof-of-Stake that does not require you to have a wallet online to accrue rewards. Instead it's a zero-footprint POS. 
KMD holders have the opportunity to earn a 5.1% compound KMD reward by holding more than 10 KMD and collecting the 5%/12 reward once every month.

Tips: 

1. Don't attempt to claim interest smaller than 0.01 KMD. A fee you have to pay for transaction will be more or equal to the interest amount.
2. Make sure that the Lock time has a tick mark to it, implying it is active and you are generating rewards. If it is inactive, you just have to send the balance in your wallet to your receive address again with a deduction of 0.0001 as fee. Don't ponder on the fee though you will be recovering it from your first reward claim in no time.
3. After depositing a balance in your wallet, you have to send it to yourself to start staking on it. Otherwise, the lock time remains inactive.

I will share my experience of stake coins depending on the feedback from the community if they find it useful.
Thanks for spending your time to read through my post :).
Feel free to suggest the areas for improvement in my way of presentation of information.

 

[Kate]

We have to keep the wallet open which is kind of annoying 

[AquaViki]

2 hours ago, Kate said:

We have to keep the wallet open which is kind of annoying 

Actually, with Komodo wallet you do not have to keep it open. You just need to maintain a balance of over 10 and open it monthly once or as you see fit to claim the rewards. Claim it only if it is over 0.01 KMD. More your balance, sooner you reach the minimum claim amount :).

For that particular reason I mentioned the POS coin drawback first and why KMD was different :).

23 hours ago, AquaViki said:

KMD is a unique type of Proof-of-Stake that does not require you to have a wallet online to accrue rewards. Instead it's a zero-footprint POS.

 

[Kate]

21 hours ago, AquaViki said:

Actually, with Komodo wallet you do not have to keep it open. You just need to maintain a balance of over 10 and open it monthly once or as you see fit to claim the rewards. Claim it only if it is over 0.01 KMD. More your balance, sooner you reach the minimum claim amount :).

For that particular reason I mentioned the POS coin drawback first and why KMD was different :).

 

Oh ok thats better but When we claim can we check how much we get ? 

[AquaViki]

13 minutes ago, Kate said:

Oh ok thats better but When we claim can we check how much we get ? 

Please check the 3 images.

I made a claim just now for proof :).