OFFLINE STAKING with BTCBAM

Delegating Address to Super Staker

BTCBAM Offline Staking allows the address for a non-staking wallet (capable of making the delegation assignment transaction) to be delegated to a Super Staker. Offline Staking is non-custodial: the delegation user keeps full control of their coins and private keys. The address delegation is made via a smart contract transaction from the delegation user’s wallet which identifies the delegator’s address, the Super Staker address, and the fee the delegator agrees to pay. If the Super Staker accepts this fee, it will begin staking the delegated address UTXOs.

The normal rules for staking UTXOs apply to delegated UTXOs:

UTXOs may only be used for staking after they mature (2000 confirmations)

The Super Staker will set a minimum size of UTXOs to stake, defaulting to 100 Btcbam. Delegated UTXOs below this amount will be ignored.

It is best practice (for optimum returns) to break UTXOs up into sizes of 100 to 200 Btcbam each. For users of the Btcbam Core wallet, this can be easily accomplished with the command line version of splitutxosforaddress.

To make the delegation assignment from the Btcbam Core wallet, select Stake — Delegations, the Add delegation “+” button in the upper right corner, enter the Staker name (for local reference only), Staker address, Fee you agree to pay, and your Address to be delegated. Leave the default Gas settings alone unless you understand how to set these. The delegation transaction will require at least 0.9 Btcbam in fees and any excess will be refunded.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
BTCBAM Official

BTCBAM Official

BtcBam is a Vienna-based cryptocurrency mining company managed by entrepreneurs and professionals.