While coin staking has already become a popular investment method across the globe in recent months, many market experts feel that this service has a lot of future financial potential. Some even believe that coin staking will be a critical element that will help evolve the blockchain ecosystem in a way that allows it to merge into the mainstream and positively affect the lives of many people.
POSWallet is a company that provides users the option to employ coin staking in a completely streamlined manner. Users can create an account with which they can fund a plethora of wallets where the company pools and stakes their holdings.
Since the crypto market incorporates new altcoins every month, PoSW uses the reward staking and masternode functionality modules of these individual currencies, allowing for seamless investments.
Additionally, the platform employs an incentive model that rewards users with a native currency called PoSW Coin. These dividends are paid monthly and allow users to earn a decent revenue stream on the side.
Overview of POSW
- The design of the platform is quite user-friendly.
- Purchasing PoSW Coin is quite straightforward.
- Owing to the use of the TPoS protocol, this platform allows users to gain complete control over their funds.
- Third-party individuals are allowed to partake in the staking process.
- Each and every PoSW currency holder is eligible to receive dividends.
- Monthly incentives can be maximized via masternodes and staking mechanisms.
- The platform is backed by a strong community of developers and crypto-enthusiasts.
To start off with, the developers of PoSW are working in conjunction with a well-known crypto hardware company called Ledger. Thanks to this collaboration, PoSW Coins are now fully compatible with cold wallets such as the Ledger Nano S and Ledger Blue.
Some of the key features of the PoSW platform
This platform allows anyone to stake PoSW tokens using just a single public key. Not only that, owners of the private key also have the option to “auto distribute” a certain amount of the stake received to a third party of their choice.
Other important features include:
- Masternode Utilization: another important facet of the PoSW platform is its implementation of masternodes within its private network. This helps stabilize the price of native tokens, and it provides users with higher ROIs on their investments.
- Safety: the system incorporates a stealth protocol that allows network participants to remain absolutely anonymous.
- Future-Ready: there is a monthly treasury which collects funds to further develop and improve the coin’s functional protocol.
In addition to the aforementioned features, all profits incurred through the use of PoSWallet are paid out to token holders in the form of dividends.
How PoSW works
As is probably clear by now, PoSW makes use of an incentive mechanism called staking to help deliver regular profits to its customers. To be more specific, dividends are paid to customers directly at the start of every month. These profits are in addition to the extra tokens that are earned via the pre-existing 1% stake rate offered by the company.
Overview of the staking model used by PoSW Coin (courtesy of Blockgeeks.com)
The total number of tokens will always be maintained at 70,000,000, and any additional coins will be burned from the dev address so as to balance the 1% proof of stake earnings.
It should also be noted that dividends are sent to the wallet addresses that correspond with those in which coins were held at the end of the previous month. According to the company’s whitepaper, “the dev PoSW address will not earn any dividends, further enhancing the user-purchased PoSW dividend ROI.”
Lastly, dividends are calculated using this mathematical formula:
(address balance) / [(total money supply) – (dev address holdings)]
About the project
With PoSW receiving a lot of commercial interest recently, it can be beneficial for the readers of this article to learn about the people running this project.
One of the main people behind this venture is Petros Anagnostou. Petros is a blockchain enthusiast who has been in the digital domain for nearly a decade now. As we speak, he is involved with other blockchain ventures such as ICOtimeline.com as founder and CEO. Additionally, Petros also works as an active investor, trader and ICO adviser.
John Draper is the project’s lead developer. According to his LinkedIn profile, he is a cryptocurrency and blockchain specialist. John has also been collaborating with blockchain companies since the inception of this domain, and apart from working at PoSW, he also serves as the director of operations for XSN.
Since its launch early last year, PoSW tokens have provided investors with attractive financial returns.
PoSW coin lifetime performance chart (courtesy of Coinmarketcap)
PoSW tokens were introduced into the market on the 4th of January, 2017 at a meager price of US$0.001 per coin. During the crypto boom that took place earlier this year, the currency scaled to a value high of US$1.02 on the 5th of January, 2018.
However, the value of PoSW has dipped once again, and the price of a single token is now around US$0.32 (as of the 15th of March).
With coin staking now viewed as a lucrative crypto investment avenue, it will be interesting to see how this currency continues to fare in the global investment market. Owing to its strong historical performance, it seems like PoSW is destined for great things in the coming months.
However, before making any significant investment in PoSW, users should do some research on their own, as it is their money that is on the line.
If you would like to start investing in this currency, PoSW trading pairs are currently being offered on LiveCoin, Cryptopia, and YoBit.
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