How long does it take to get your first reward?


#1

Hi,
I’m new to reddcoin but not to cyptro. I got the reddcoin wallet. Took 2 days to sync. On the 27th of Dec I deposited about 80,517 reddcoin coins. It’s been about 6 days and nothing. No reward. My laptop is on 24/7 so it is staking 24/7. So when will I see reward?


#2

With that amount, I’m guessing it takes around 1.5 weeks to 2 weeks to get a reward.

Staking with more coins would speed up the times to get a reward. I’m currently staking on my Raspberry Pi (low power consumption) with around 300.000 RDD, and am rewarded once every 2/3 days on average.

If you have a Raspberry Pi, I would highly recommend staking on that device. I’ve written a tutorial about it that might be useful in that case: https://www.reddit.com/r/reddCoin/comments/a0wn1v/updated_staking_reddcoin_core_client_gui_wallet/.


#3

May I ask you some questions?

  1. How good are these Rewards calculators? They give you a daily, weekly, monthly and yearly.

  2. Now you say you get a reward about every 2 to 3 days. Does the amount you get total up to what you would get for those 2 to 3 days? Your daily earnings would roughly be 43.154 RDD coin so for 3 days do you get 129.45 RDD coin?

  3. Why does it take so long to get a reward based on your holdings?

  4. Forgot to ask. What is weight in staking, And what does it do?

Thank you.


#4
  • How good are these Rewards calculators? They give you a daily, weekly, monthly and yearly.

I haven’t used those calculators. But I just tried https://agroff.github.io/posv/; those averages seem to be correct.

  • Now you say you get a reward about every 2 to 3 days. Does the amount you get total up to what you would get for those 2 to 3 days? Your daily earnings would roughly be 43.154 RDD coin so for 3 days do you get 129.45 RDD coin?

Yes. You are rewarded randomly; so, sometimes you’re rewarded within 24 hours, sometimes it can be 3 days, or even 6 days (depends on the amount you’re staking with). The longer it takes to get rewarded, the higher the rewarded amount is.

  • Why does it take so long to get a reward based on your holdings?
  • Forgot to ask. What is weight in staking, And what does it do?

Answering these at the same time. You really should read this: https://agroff.github.io/posv/.

Basically, the higher the amount you stake with, the higher the (total) weight will be. And the higher the total is, the higher the chances of being rewarded. See it as a lottery, the more tickets you have, the higher the chance to win something. The yearly reward of Reddcoin staking is 5%; so if you stake with 100,000 RDD, after a year, wou will be rewarded 500 RDDs. If you stake with 500,000 RDDs, your yearly reward will be 25,000 RDDs.

 

To sum it up:

  • If you stake with an higher amount, you will be rewarded more often.
  • If you stake with an higher amount, the rewarded amount will be higher.

 

I highly recommend reading https://agroff.github.io/posv/.


#5

I don’t know if it allowed, but the Reddcoin subreddit (https://www.reddit.com/r/reddCoin) is more alive/visited frequently then here, so if you post there, you have a higher chance of getting help or answers…

I am also active there (same nickname); so if you have questions don’t hesitate to ask there.


#6

I’m reading from that link you provided. Got my first reward. But now it stop staking. So from reading after you buy or get a reward your older coins reset there age. And it starts all over and you wait.

I’ll check the reddit out.
Thank you.


#7

That’s why it’s better to stake with a device that has low power consumption. My Raspberry Pi 3B is powered on 24/7 and doesn’t need any maintenance.

See you on Reddit…