PIVX Cold Staking Earn With Privacy
PIVX cold staking earn with privacy is the new standard of earning while protecting your own privacy. Experience the freedom of global digital cash with SHIELD User Data Protection. Be your own bank with full control of your digital assets through PIVX infrastructure.
To start with, PIVX Cold staking requires two PIVX wallets. One to hold the funds (this can be also a hardware wallet and does not need to be always online) and another one, the hot node, to do the staking (this needs to be online 24/7).
Setting Up Cold Staking
In order to set up cold-staking, you need to perform the following steps (either with the command-line interface CLI or with the graphical interface GUI):
- Generate a “staking address” from the staker wallet (if you don’t have one already).
- Generate an “owner address” from the owner’s wallet (if you don’t have one already
- Create a “cold stake delegation”.
- Whitelist the owner’s address on your staker (if you haven’t already).
STEP-BY-STEP GUIDE
Moreover, to send more delegations, using the same addresses-pair, just replicate step 3 of this guide.
1) Generate a “staking address” from the staker wallet—Staking addresses must be owned by the staker wallet (the one that is online 24/7 and holds no funds)
Kindly refer to the photo below
- USE GUI to create a staking address, after enabling the cold staking tab (clicking on the topbar icon), select Staker–> “Create cold stake address”
- Insert any amount, a label for the address, optionally a description, and click “Generate”
- The new address gets visualized, along with a QR code.
- You can either copy the address or the URL to paste it during the delegation (see point n.3).
- You don’t need to create a new staking address for each delegation. You can reuse your previously generated addresses. To view them click “My staking addresses”
2) Generate an “owner address” from the owner’s wallet
- Owner addresses are regular PIVX addresses.
- Their private key can be used to redeem delegated coins. Creating an owner address is akin to creating a receiving address.
- They must belong to the owner’s wallet (the one that is offline and has ownership of the coins).
- The owner’s wallet can also be a hardware wallet device or a paper wallet.
Use GUI to get a new owner address, simply go to the “Receive” tab and click “Generate address”. In addition, you don’t need to create a new owner address for each delegation. Additionally, you can reuse your previously generated addresses.
3) Create a “cold stake delegation”. This is also the main step. Furthermore, to delegate coins you need to send a special “delegation contract” transaction.
Check the attached photo
- Use GUI From the cold staking widget, click “delegation”.
- As with the regular sending operation, you must select an amount and either let the wallet pick the coins, or select them with coin control.
- Insert the staker address (or select it from the list of previously used ones), a description, and (optionally) an owner address (again, if not provided, it will be generated automatically).
- Then click “Delegate”.
4) Whitelist the owner’s address on your staker. Furthermore, in order to stake delegations, the owner’s address must be whitelisted by the staker.
Refer to the photo below
GUI
- The delegation is visible in the “Staker” tab of the cold staking widget
- To whitelist, the delegator, click on its row and select “Stake” from the contextual menu
- To remove the delegator from the whitelist, select “Blacklist” from the contextual menu
Additional RPC functions
- These are other JSON-RPC calls accessible via console or pivx-cli.
- Check the help for more info on each one.
- get cold staking balance
- get delegated balance
- listcoldutxos
Secure & Effortless Cold Staking
Furthermore, receive staking rewards while your funds are securely locked in offline cold storage. Additionally, delegate your PIV for staking to a hot wallet while maintaining full control. Moreover, with Cold Staking, you retain the private keys for your PIV, and your staking rewards offline, while a hot wallet remains online to stake on your behalf.
Estimate your staking Rewards
Additionally, estimate your rewards and see how simple it is to receive staking rewards with PIVX.
NOTE: There is no way to know how many nodes are running on the network, and how much PIV is being stakes at any time, so these calculations are estimates.
Third-Party Staking Services
Furthermore, if you do not have the resources to maintain a hot wallet to service your cold staking. In addition, there are a number of third-party services and volunteers willing to provide you a wallet to delegate staking.
You will find some of those service providers below.
Allnodes — is a non-custodial platform for all of your Hosting and Staking needs.
Pecunia — allows you to create cold wallet masternodes, without having to deal with servers, terminals, or Linux.
StakeCube — the predominant crypto ecosystem with Masternode hosting system supporting 55+ different crypto assets.
ABOUT PIVX
PIVX is an open-source, decentralized cryptocurrency that focuses on privacy, security, anonymity, and instant transactions.
