In today's SmartCash overview blog post, we're going to take a look at What are SmartCash SmartRewards and find an answer to the question, how many SmartRewards will I receive? It's only human nature that people want something for nothing and earning free cryptocurrency in the form of SmartRewards, for simply holding, is huge. There is no trading or sending required. All you have to do to receive SmartCash SmartRewards is to hold in your wallet.
SmartCash SmartRewards work as a price stabilisation mechanism as they encourage long term holding of coins. SmartCash needs a stable market price in order for the SmartHive treasury to be able to fund all of the projects proposed and voted on. As long term holding is incentivised through SmartRewards, the trading market sees a decrease in supply and therefore price rises as a result of this shift in supply/demand balance.
SmartCash SmartRewards
To receive SmartCash SmartRewards, you need to understand the following elements:
So to start with, to receive SmartCash SmartRewards, you need to simply buy and hold a minimum of 1000 SmartCash coins in a wallet. As we went over above, holding coins acts as a price stabilisation mechanism and as project development via the SmartHive is funded by SmartCash, a higher price is obviously desired.
The next key element to receiving SmartCash SmartRewards is that there is an initial 30 day holding period required. This means that the first payout date acts as a wallet snapshot and you actually have to wait the following full month before receiving SmartCash SmartRewards for that wallet. This is fully explained, using examples, in the SmartRewards eligibility section below.
SmartCash SmartRewards are then payed out on the 25th of each and every month from your snapshot. As long as you don't make a withdrawal from that wallet address, then it will continue to be eligible for SmartRewards. You can of course add more SmartCash to your holding wallet and it will remain eligible.
SmartReward Eligibility
To be eligible to receive SmartCash SmartRewards on the 25th of each month, you need to have 1000 SmartCash coins held within a single wallet. An initial snapshot of the wallet is taken on your first 25th and so long as you don't make a single withdrawal from that wallet, then you will receive SmartRewards for every month after that. The concept of the snapshot confuses many new investors to SmartCash, but the following example will help.
Now, if you were to buy SmartCash on the 24th of the month and place it in a single wallet address, then you're not going to get your smart rewards the next day on the 25th. This is because the first 25th act as the initial snapshot, with the following 25th being your SmartReward payout date.
This means that if you buy SmartCash to be eligible for SmartRewards early in the month, then you essentially have to wait two months before your payout. But on the other hand if you were to buy your SmartCash as close to the 25th as you can, then you only have to wait the one month.
SmartReward Payouts
So now we hear you ask, where do the SmartCash SmartReward payouts come from? Well with block rewards split 70%/30%, from the 30% that aren't allocated to community projects, 15% of these go to SmartRewards. SmartNodes take 10% and miners just 5% of this pie, so as you can see it's quite a significant number allocated to SmartReward payouts for coin holders. This is how highly holders and the community are held.
You just have to remember that if for any reason you have to transfer out any amount of SmartCash from your wallet, then it immediately becomes ineligible for SmartRewards that month. For this reason, the SmartCash web wallet login has three addresses to separate your SmartCash for SmartReward payouts and for spending.
Just don't make a mistake and make your SmartReward payout ineligible!
SmartCash Australia | smartcashau
SmartCash is a community governance, privacy & growth focused blockchain based currency and a decentralised economy.
