Hello INDODAX Members,
Enjoy a new way to invest in crypto with INDODAX Earn!
INDODAX Earn is a feature that uses a method or mechanism of locking crypto assets to get rewards on the blockchain with a Proof of Stake (PoS) consensus, or commonly known as staking.
You can access INDODAX Earn feature on desktop via INDODAX website or on INDODAX Mobile App. Here are the steps for using the Earn feature on desktop version:
- Visit https://indodax.com and select the “Earn” menu.
- Scroll down and select the desired coin in the Available Coins section. Make sure the amount of coin balance you desired is sufficient for the minimum stake for each coin.
Disclaimer: currently, only Polkadot (DOT), BNB (BNB), Matic Network (MATIC), Solana (SOL), and Ethereum (ETH) coins are available for INDODAX Earn. Other crypto assets will be available soon. - Confirm by entering the amount of crypto assets for staking and continue the process by reading and agreeing to the INDODAX Staking Service Agreement, then click “Confirm”.
- After that, your stake status will change to Bonding which indicates that your asset is in the staking queue and waiting to enter the Earning stage. The transition from Bonding to Earning is carried out at 2 PM (UTC+7) every day.
After that, the Bonding status will change to Earning, which means your assets are in the process of generating staking rewards. The distribution of rewards is carried out at 1 PM (UTC+7) every day.
Here are the steps for using the Earn feature on mobile version:
- Open the INDODAX Mobile App on Android or iOS, and select the “Earn” menu on Pro Mode.
If you use Lite Mode, you can open the INDODAX Mobile App on Android or iOS version, select the Wallet menu, then click “Earn“.
- Select the desired coin in the Available Coins section. Make sure the amount of coin balance you desired is sufficient for the minimum stake for each coin.
Disclaimer: currently, only Polkadot (DOT), BNB (BNB), Matic Network (MATIC), Solana (SOL), and Ethereum (ETH) coins are available for INDODAX Earn. Other crypto assets will be available soon. - Confirm by entering the amount of crypto assets for staking and continue the process by reading and agreeing to the INDODAX Staking Service Agreement, then click “Confirm”.
- After that, your stake status will change to Bonding which indicates that your asset is in the staking queue and waiting to enter the Earning stage. The transition from Bonding to Earning is carried out at 2 PM (UTC+7) every day.
After that, the Bonding status will change to Earning, which means your assets are in the process of generating staking rewards. The distribution of rewards is carried out at 1 PM (UTC+7) every day.
For your information, staking on INDODAX is a flexible staking, where you can stop staking at any time during the Earning period.
To do so, you only need to click the “Unstake” in the Details section of your portfolio. However, the unstake process cannot be carried out partially. If you choose one transaction to unstake, it will unstake all coin balance you have stake in that transaction.
After you successfully unstake, the status will change to Unbonding which indicates that your asset has been unstake and is in the queue to return the balance to your wallet, and has stopped earning rewards. The transition from Unbonding to Finished is carried out at 12 PM (UTC+7) every day. If the status has changed to Finished, then the initial coin balance and all the rewards you have received so far will be added to your spot wallet.
For further inquiries and information, please contact INDODAX Customer Support via email [email protected] or via Call Center at (021) 50658888.
Regards,
INDODAX – Indonesia Bitcoin & Crypto Exchange
