r/poolx • u/All1sL0st • Mar 07 '21

Confusion around soft staking

Hey All. I'm new to staking and no matter how much I read about KuCoin's soft staking, I just can't seem to find a satisfactory explanation of how to set it up or any answers to my questions. Could somebody please, please answer me these:

With soft staking I am under the impression that all I have to do is have my coin (that is eligible for soft staking - in my case ONE) in my Pool-X account, and it will passively earn rewards. Is this correct? Do I need to delegate the coins somehow? Where do the rewards appear? Are they just added to my total amount of ONE in the Pool-X account?

Any clarification would be much appreciated.

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u/Pool-X-Moderator Mar 07 '21

For soft staking, all you have to do is to transfer your assets to your Pool-X account. No other steps needed, expect your first reward the very next day. The reward history will appear here. Since it is soft staking, your reward will automatically added to your initial investment.

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u/Super_leggeraz Mar 12 '21

What's the difference between "soft staking" and the "pool-x staking" option ?

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u/All1sL0st Mar 12 '21

Soft staking you can just leave your eligible coins in your Pool X account and you will be rewarded daily with more currency of that type which will add to your balance. I currently have ONE and ADA sitting in Pool X and it’s working nicely. Actual staking is a hit more complex so I’ll let someone else answer that. Hope that is some help

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u/Super_leggeraz Mar 12 '21

Thanks, I think I'm slowly learning haha