One of the coolest features of SmartCash is the passive income via SmartRewards. For each 1000 coins that are held for a month in a wallet you earn part of the mining pool of SmartCash. The day of the next snapshot is March 25th, 7am UTC - in a few hours from now.
Smart Rewards - What You Should Know
Whenever you decide to eventually take out any of the SmartCash held in that wallet you will inevatably loose the ongoing SmartRewards month for the entire wallet address.
This is a huge incentive to even hold the newly created SmartCash instead of selling it off right away every month. You have to to think very well about the moment of when and why you take out your coins as it will create opportunity costs for you. However, you can always add more SmartCash to the wallet without risking your SmartRewards. The added coins will taken into account after the next snapshot.
The amount that is allocated from the mining pool to SmartRewards is 15%. This is being shared between all eligible SmartCash holders when the next snapshot happens. Each person gets a share according to his percentage of holding. As more and more people come into Smartcash and hold their coins the overall percentage for the pool is sinking. I have read that it will be about 3.5% of your holdings this month.
SmartNode Upgrade
It is also interesting to know that you can stack up your SmartRewards wallet to 10K holdings and then easily convert it into a SmartNode for which you only need tu rent a 5 Dollar VPN server. This, however, works currently only with a desktop wallet.
Please check out this guide for further instructions.
You can earn both SmartRewards and SmartNode rewards at the same time in one wallet. If you take out SmartCash the node continues to produce (if you stay over 10k) but the SmartRewards are nullified for this month.
Conclusion
If you have SmartCash then stay ready. Make sure that you have all your SmartCash in the right wallets to prepare for the next snapshot but also don't mess it up last second. Remember you cannot take out anything before the snapshot happens if you already waiting for your SmartRewards.
Personally, I think this is an awesome feature. However, it is also sinking in profitability with more people holding. And there is currently only 5% of the mining pool actually allocated to miners themselves which is very low. There are things the decentralized SmartHive has to solve. But SmartCash already feels like a very solid project and a coin that is a lot of fun to earn on Steemit and hold for passive income.
Check out @smartcash for their weekly SmartCash giveaways.
A very comprehensive write up. It answered a few questions i had about adding coins during the holding period for the rewards and how the smart nodes work
@flauwy you are one of my winners!
https://steemit.com/contest/@nitego/400-followers-contest-winners
Cool, thank you! That's awesome :-)
the best part about the game #smartReward ☺ ☺, i have to read about manna seeing that everywhere though.
Great one! Your article educated many with its clear understanding of how the $Smart works when you run a SmartNode.
Thanks Kasou! Steem Smart ;-)
Smart Cash will prove to be a very good buy. $1K in Smart Cash allows you to earn Smart Rewards. This is a deal you just can not find elsewhere. Thanks for the share.
Actually, currently you can buy 1000 Smartcash for $115 USD.
Interesting this is a nice way to earn passive smartcash . But am contemplating between buying smartcash or mining smartcash which is more profitable @flauwy
I don't really know. From the pool only 5% goes to miners but I don't know how profitable it is. You can ask in the Discord channel about it.
I got this a while back its like having a salary. Its not currently a lot but the idea will grow and hopefully the value
at the 25th of every month ?
Yes, it happened earlier today.
amazing sir very nice
Good article thank you for keeping us informed. I would love to know more about smartCash. As you must enter, I must cancel SB what amount, etc.
Buen articulo gracias por mantenernos informados. Me encantaría conocer mas sobre smartCash. Como debe ingresar, debo cancelar SB que cantidad, etc.
Thank you
Nice post! Am learning a lot more about how crypto works by reading your material. Thanks. Keep it coming!
this is the best feature of the smartcash time to earn some free passive bucks with time
lots of interesting feature this coin has got for the community and once it price shoot to 3 times
i need to buy some more of smartcash its price is way lower now
@smartbot tip @flauwy 20
Σ$$$ Tipped @flauwy
Σ20 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.089 USDperSMART. Current value of the tip is$1.78 USD. To find out more about SmartCash, please visit https://smartcash.cc.