Nebulas Staking Guide Via NAS nano pro
Blockchain technology has allowed ordinary people to earn passive income, which shows much better returns in many cases comparing to traditional banks. But very often, users lack knowledge about the staking process on different networks, especially if the technology is new. In this guide, we’ll walk you through the process of staking Nebulas(NAS) via NAS nano pro wallet.
At the moment there are many cryptocurrency wallets that support holding, sending and receiving Nebulas(NAS) tokens, and you can find them following this link.
It’s important to emphasize right from the beginning, that users are pledging NAS tokens to the blockchain and then they get rewarded with other tokens called NAX. These tokens can be used for voting which will be shown by the end of this staking guide.
By using NAX tokens for voting, everyone participates in a slightly different staking mechanism where users vote for a particular validator with NAX tokens and after that, the blockchain distributes rewards in the form of NAS tokens. Original NAS tokens are received by validators and then they get distributed again to the end-users who voted for them.
Wallet Setup And Pledging Process
Once you download and install the NAS nano pro wallet, continue to wallet setup.
Choose the desired password and save your seed phrase in a safe place.
Click on the ‘Me’ button in the right hand corner.
Then click on the ‘Add Wallet’ button.
Choose to create a new wallet now.
Choose the desired password to confirm transactions and save your seed phrase in the safe place.
Once you create your wallet top it up with at least 5 NAS tokens to start staking.
Then click on the orange button with dStaking text on it right on the home screen.
Simply hit on the ‘Start Pledge’ button
Choose the desired amount of tokens for staking and proceed further to confirm your operation.
If operation was completed successfully you will be able to see the message ‘dStaking Successful’
Voting And Unvoting Process
As it was mentioned earlier, you will be receiving NAX tokens for pledging, but if you want to receive NAS tokens you have to vote with NAX tokens that you have received FROM the pledging process itself.
So in order to vote for a node, please visit the node section of the official Nebulas website and find Everstake in the list of validators.
Then simply click on the ‘Vote’ button’
Once you click on the ‘Vote’ button, a dialog box will pop up allowing you to choose the number of NAX tokens you want to use for voting and corresponding QR code which should be scanned with your NAS nano pro application on the smartphone.
Note: You should have at least 1000 NAX in order to vote for a particular validator.
Choose the desired amount of NAX tokens and then from the main menu in the mobile application click on the scan button that is located in the top right corner of the screen.
Then scan the QR code on the website and confirm your operation.
That’s it, now you have successfully staked your NAX tokens and every cycle you will be receiving rewards in the form of NAS tokens which can be sold stored, staked again or traded on the cryptocurrency exchange.
In case you want to unvote a particular validator, simply follow this link.
Then you have to enter your address, click on the vote cancel button, enter the desired amount of NAX tokens that you want to unvote and simply confirm your operation.