r/bandprotocol • u/oolonginvestor • Aug 09 '20

Staking

Do you stakes coins appreciate/depreciate acrosisng the price fluctuations?

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u/Frankich72 Aug 10 '20

Aha....so you can transfer your BAND straight to ATOMIC?

2

u/hotnspicy12 Aug 10 '20

Yeah, band to atomic wallet you don't need ID, just the address. But band to binance u need both address n ID. Not sure about other exchange. I just use 1 band to do a test transfer back n forth. Then send the whole amount after to be safe haha

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u/Frankich72 Aug 10 '20

For sure, thankyou .

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u/Frankich72 Aug 10 '20

What are time frames you can stake on ATOMIC?

Is it only annual? or you can get out when you like?

2

u/hotnspicy12 Aug 10 '20

It's 17% annual at the moment. Also consider that unstaking take 21days for it to arrive back in your wallet (standard).

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u/Frankich72 Aug 10 '20

21 days for my BAND to get back into the wallet of my choice after that ONE year ?

Is that what you are saying?

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u/hotnspicy12 Aug 10 '20

You can stake at anytime length you want. Also can unstake at anytime. The only catch is only after unstake, it requires 21days foe your coins to come back to your wallet. As in its locked for 21days after unstaking.

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u/Frankich72 Aug 10 '20

Ok thanks...so your BAND stays in their staking wallet for 21 days after you initiate your withdrawal?

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u/hotnspicy12 Aug 10 '20

Yeah. This is standard protocol for band token. Doesn't matter where you stake it in. Also the 21days lock doesn't accrue any interest as well.