You may or may not have heard of this particular cryptocurrency, but read on as I share my personal experience and explain one of the major reasons I chose #Smartcash to invest in a long term HODL position, over the thousands of other crypto-currencies on offer in the market.
I am relatively new to crypto investing. I spent a few months watching particular coins price movements and researching in general to better my understanding of the whole crypto realm.
I decided to jump into the market just before Christmas 2017, which ended up being pretty bad timing as I bought a few coins at almost all-time highs and have seen two pretty major corrections or dips, since investing my own real money.
This lead me to further research as I thought, everyone can’t be going broke when the market is falling! I was looking for ways to profit or at least take some of the sting and anxiety out of the falling or bottomed out markets. Having some intermediate experience with stock markets and share trading, I thought of the way companies pay dividends to shareholders and wondered if such a thing existed in the crypto space. This is how discovered SmartCash and the community behind it.
There were many things about this cryptocurrency that appealed to me, for example the fact that it is completely community driven through the SMART HIVE and SMART VOTING system – a concept in which coin holders can put forward and vote on ideas for the spending of community funds to best drive future development, adoption and awareness. In this article I am not going into further detail on the many positive points I found, if you would like to learn more and view the ROADMAP for 2018 you can visit the official website.
In this article I really wanted to focus on the SmartRewards program which is what attracted my interest in obtaining my own #SmartCash and hopefully becoming a contributing member of the Smart community.
“SmartRewards are a price stabilization mechanism and a way to encourage long term holding. Long term holders are key to the project’s success since the SmartHive treasury needs SmartCash to appreciate in value in order to fund meaningful 3rd party proposals and help grow SmartCash into a successful global crypto-currency. Each wallet address holding at least 1000 SmartCash will get paid each 30 days on the 25th and the snapshot for the next month will happen at the same time. The SmartRewards will come out of the 15% block reward allocation.”
The above definition is taken straight from the official website.
There are a few important things to note but the program is very simple to understand which is a testamate to the very user friendly approach of the #SmartCash project as a whole. This is great news because there can be some very complicated and intimidating info in the crypto space but if I can (and I have!) set this up, anyone can get involved to receive and grow their holdings through the rewards program!
First you will need to set up a SmartCash wallet to hold your coins in. This has been made fast, easy and very user friendly by the introduction of the WEB WALLET!
For excellent detailed information on how to set up your own wallet (and how I learned to set mine up) see this great post and video from
Once you have set up a SmartCash web wallet you will then need to purchase 1000 SMART coins (I would probably advise purchasing a little over 1000 just to be safe) on an exchange and send them to your new wallet address (I am assuming you have some knowledge of crypto currency here in that you can make a purchase on an exchange). I got my coins on CryptoBridge decentralised exchange but you can also get them on HitBTC exchange which i also use and can recommend.
Now that your coins are in your wallet, it is important you do not withdraw any coins for a 30 day holding period, from the 25th of the month, to the 25th of the next month, as this will make your wallet ineligible for the rewards for that month. To help avoid this the web wallet is set up with 3 wallet address’ that are all conveniently named. Again, emphasizing the user friendliness, if you do plan on spending coins, keep that balance in your ‘spending’ wallet, separate from the minimum 1000 balance for your SmartRewards.
IT REALLY IS THAT SIMPLE! The rewards are paid out on the 25th of each month as mentioned, so for example if you put your coins into the wallet on the 14th you would need to wait until the 25th when they take the screenshot, then hold for the 30 day period and be paid your reward coins on the 25th of the following month.
And DO NOT withdraw any balance from your rewards wallet!
Now watch your SMART balance grow!
Happy HODLing!
If you would like to learn more about SmartCash please visit https://smartcash.cc/