The PIVX blockchain is a Proof of Stake system that encourages its users to secure and operate the network by staking their coins. If you're not familiar with the PIVX PoS concepts, or with the PIVX Core Wallet we recommend you visit our Getting Started page prior to reading this.
Stakers are responsible for adding new blocks to the blockchain, and receive rewards when they do so. For each new block added to the blochain (every 60 seconds), 2 PIV are created and paid to the staker who wrote the block (i.e. staking rewards will always be a 2 PIV payment).
The frequency on which you can expect to receive rewards depend on the amount you are staking. The calculator available on the https://pivx.org/proof-of-stake website can be used to estimate the frequency on which you could expect to receive staking rewards.
NOTE: The frequency on which a staker will receive rewards is random. The output of the calculator is indicative only.
Requirements to stake PIVX
To start staking you will need:
- A PIVX balance with at least 600 confirmations,
- A PIVX Core Wallet that is:
- Running the latest PIVX release.
- Synchronized to the latest block.
- Unlocked for staking.
- Open and connected to the internet 24/7.
For cold staking your staking node needs to meet all above conditions and have whitelisted its delegation for staking.
Any PIVX holder can stake their coins; there is no minimum balance.
Although you can stake as little as 1 PIV, the probability to receive a staking reward will be extremely low.
How do I start
You first need to decide whether hot or cold staking works best for you.
As mentioned in the requirements section, you need a PIVX Core Wallet connected to the internet 24/7 to stake your PIVs. You can either stake your PIVs using the Core Wallet that contains your PIVs (hot staking), or leave the wallet staking your PIVs offline and delegate the staking to another online wallet (cold staking).
Running your own staking node is generally the preferred option, as it provides additional nodes (thus further decentralization) to the PIVX network, but it might not be a viable/profitable option for smaller PIVX balances.
So if you have a server/computer (even a Raspberry PI works!) available for staking, go ahead and start Hot Staking. If hot staking is not practical for you, then go ahead and delegate your PIVs for Cold Staking.
NOTE: Cold Staking makes it slightly more cumbersome to spend your PIVs. So if you transact with your PIVs a lot hot staking might be the best option.
Troubleshooting staking issues
For any issues related to staking activation / rewards, please make sure you read the relevant FAQ at Troubleshooting Staking
If your problem is not documented in the FAQ, feel free to raise it on the PIVX Discord.