Thursday, 19 October 2017

How to Stake Your Swisscoin SIC and Earn POS Reward, Back up and Restore Desktop Wallet

I’m pretty sure that those of you who are swisscoin investorsare taking full advantage of the coinexchange price of SIC… It is still fresh and very cheap and I don’t want you to miss out. While you are still waiting for your coin to be officially transferred to your web wallet, take advantage of coinexchange price because you can get more coin for less price.

However, I’m going to show you how to stake your coin and earn rewards.
Proof of stake

Swisscoin blockchain uses a “Proof of Stake” function. Unlike bitcoin where you need heavy amount of energy to mine coins, in swisscoin, all you need to do is stake your coins and you will be rewarded with the transaction fees in the block you stake each time you are the chosen” forger”, this is randomly chosen but the more volume you stake, the higher chance you have of being the chosen one.

1. First of all, you’ll need to download the offline wallet which you can easily get from your back office>>blockchain>> offline wallet -  download it to your PC computer

where to download offline wallet

Alternatively, you can download the offline wallet below:

Linux OS

2. Allow it to Synchronize with your network (Note you must have active internet connection)

3. Finally, if your wallet is locked, go to settings and click on unlock wallet. Check the left hand side of your desktop wallet to see if the padlock is open.

unlock your offline wallet
4. Once you are done with that, you can then transfer your sic funds from coinexchange to desktop wallet.

How to Back Up and Restore SIC Desktop Wallet?
This is the most important part, because this process helps you to retrieve your funds in case if your system crash or stolen. 

Note: Save your back up files in an external hard drive, cloud storage or even in your email.

>>Open your desktop wallet
>>Go to File>>Back up
how to back up your coin

>>Save with the name ‘wallet’ … Done!

To restore it back
>> For windows user, simply locate %APPDATA%\Swisscoin  using windows search

>>Replace the wallet  as seen above with the one you backed up
You are done
>>For Linux users, locate ~/.swisscoin/
>>Mac OS users, locate ~/Library/Application Support/Swisscoin/

That’s it guys,

Always ensure you visit for timely update about swisscoin.

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