MyStakingWallet, launched on June 30th 2018,is a ground-breaking product from Linda Coin that allows users to earn cryptocurrency rewards by running masternodes or staking a variety of cryptocurrencies–directly from a slick mobile app.
The problem with existing wallets
POS blockchains allow coin holders to earn more coins as a reward for performing tasks that assist the network. However before MyStakingWallet, the complex and costly masternode set-up process often proved to be prohibitive, even to tech-savvy users.
For example, traditional set-up processes usually require masternode holders to hire or provide their own server and a dedicated IP address to keep their node running 24/7. Holders would also need enough storage space to house the entire blockchain they are running.
MyStakingWallet removes all of these pain-points and enables users to run their own fully-independent nodes with just a few simple clicks. The app is already available from Google Play and the Apple App Store.
The MyStakingWallet solution
MyStakingWallet’s user-friendly design makes it possible for users to set up their own POS nodes in minutes. No mountain of set-up documents, no bashing away at Linux and no searching for third part server solutions.
Setting up a masternode, for example, requires just three clicks and the entry of a user-selected passphrase. It really is as easy as that!
Each user automatically gets their very own Virtual Private Server (VPS) which is always on and always connected so rewards and network contributions can be maximized. Nodes are fully managed and require next to no technical knowledge to run.
POS rewards are paid directly in to the wallet. Indeed a special in-built feature allows users to both stake coins and hold a masternode at the same time so masternode rewards can be immediately moved to a staking wallet to unlock further rewards.
There are two versions of MyStakingWallet, a free version that allows users to send and receive funds from a mobile or web-enabled device, and a paid version that unlocks an array of additional features including staking, masternodes and the ability to monitor multiple coins from the wallet.
All your wallet info at your fingertips
The MyStakingWallet web app and mobile apps are built for on-the-go convenience, allowing users to check in on the number of coins and rewards in their wallet, and their USD value, at any time.
The wallet dashboard also contains a host of additional information to keep you on top of your investments including
– Active Connections – the number of connections you have to the Linda nodes
– Blockchain Status – is you blockchain synched?
– Staking Status
– Staking weight – the number of coins you are staking and the total number being staked by the network
– Coin info– including the price movements, Coinmarketcap.com rank and circulating supply of the coin you are viewing
MyStakingWallet can also send push notifications to users’ phones or smart watches every time they receive new staking or node rewards.
High level security
The MyStakingWallet team has taken extreme measures to ensure all aspects of their platform is secure with up-to-date standards, and will continue to do so.
All user data is secured by standard 256 bit encryption as well as single use end-to-end encryption between the user and their server.
All communication, whether it be between the gateway and the MyStakingWallet servers, or the gateway and their VPS happens over SSL.
The wallet is non-custodial, so users have complete control of their private keys and a user must encrypt their wallet with a passphrase before it can be used. The passphrase functionality utilizes the inbuilt security employed in all Bitcoin-based wallet programmes to further protect the user’s funds in case their wallet.dat file falls into the hands of hackers.
Multiple coins, multiple reward opportunities
Besides MyStakingWallet’s native currency LindaCoin, the platform already supports multiple cryptocurrencies and many more are set to be added, so users can create their ideal investment mix. There are no limits on the number of coins users can use, and up to 4 can be added per server.
Cryptocurrencies currently supported by MyStakingWallet include:
– Social Send
Download the MyStakingWallet app from Google Play or the Apple App Store and start staking your coins today!