Decentralized exchanges are the future for cryptocurrency trading. The majority of investors use exchanges like Binary, bittrex and Bitfinex. They are all centralized exchanges.
Users do not control their digital currency private keys with centralized exchanges. The private keys are kept on a central server or database. The risk of failures is increased by this model. The performance of centralized exchanges is poor and they are susceptible to hacking, theft, government interference, or manipulation.
The decentralized order book based on blockchain and the multisignature gateway network solve these problems. No central failure point. The blockchain stores all deposits, withdrawals, and order books in a transparent manner. Even if CryptoBridge ceases to exist, the client can still deposit coins, withdraw them and even trade them. The private keys of each client’s coins are held by them.
CryptoBridge, a DEX (decentralized exchange), supports the trading of altcoins. It is the elimination of one single failure point when trading cryptocurrency that makes this innovation so revolutionary. CryptoBridge has its own cryptocurrency called BridgeCoin. BCO, which is a scrypt-mineable coin like Litecoin, was created in July 2017. The coin was launched in July 2017, to help fund the creation of the CryptoBridge full decentralized exchange.
The graphene blockchain, which is behind the decentralized Exchange, has a confirmation rate of 3 seconds on average. It can handle up to 100 000 transactions in a second. DEX provides a full API to allow any party interested in building applications on the top of decentralized exchange.
BCO is similar to BNB Coin By Binance. By using BCO, you can save a significant amount on trading fees. They have recently released many updates and are gaining popularity among the digital currency market. CryptoBridge’s only problem is the low volume. This is a common issue for most decentralized exchanges.
You can currently check the BCO listings on CoinMarketCap.
BridgeCoin launched the Staking program in December 2017. BridgeCoin owners can stake their coins for a period of time to earn revenue via Profit Sharing. All BCO stakeholder will receive 50% of the profit generated by the CryptoBridge decentralized exchange.
This tutorial will teach you how to stake BCO coins in order to receive revenue from Profit Sharing. Bitcoins (BTC) can be used to purchase BCO coins on the CryptoBridge Exchange.
Tutorial
There are a few things that you need to know before you start staking BCO coin.
After you have entered the Profit Sharing Program, or staked your BridgeCoins (BCO), you won’t be able to trade or withdraw them until you reach the end of staking period.
You will receive automatic bi-weekly payments to your CryptoBridge account during the stake period.
Choose from the following stake periods to stake BridgeCoin on CryptoBridge.
1. One Month Bonus (0%)
2. Three Months Bonus (20% )
3. Six Months Bonus (50%)
4. Get 12 months (100% bonus)
Your staking bonus (factor) increases the longer you stake. You can see that staking your BCO for three months will give you an additional 20% BCO. If you were to stake your BCO over a period of 12 months, this would be equivalent to staking 200%.
BridgeCoin holders will receive a proportional 50% share of trading profits generated by the CryptoBridge Exchange. You can calculate this using the formula below:
CryptoBridge User payout = Total BCO staked in DEX / User staked BCO * User payout
Users will receive their payout in the coin they have traded on CryptoBridge. In a later release, users will have the option to choose their payout currency.
A user’s trading profit percentage on CryptoBridge is based in part on the amount of BridgeCoins (BCOs) they have during the staking phase.
Note: The additional bonus will only increase your stake factor. You do not receive 2,000 BridgeCoins that you can withdraw or exchange in the above example. This increase is to reward BridgeCoin holders who have been stalking their BridgeCoin for longer. Stakers who have staked for longer periods of time will get a larger share of profits generated. After your stake period, you can only use the BridgeCoins that you initially staked.
The cost of BCO staked was initially 45 BCO, but recently this has dropped to only 0.2 BCO.
Follow these steps to start BCO staking:
1. Sign up for CryptoBridge. Start by opening site https://wallet.crypto-bridge.org/
2. Select “Account” in the main menu.
3. The SEND TO (left) button will change to “BridgeCoin Staking”.
4. To start, simply enter the desired amount and duration of the stake position. Then click on “Create a New BCO Staking Placement” to begin. Keep in mind that staking locks your coins for the duration of the stake period. You will be unable to sell or withdraw your BCO before the end of the staking phase.
5. To create a BCO stake position, click on the “Create new BCO Staking Place” button. You will be asked to confirm the selection in a pop-up. You can see in the picture below that creating stakes costs money, so you are better off making one than several.
You will then receive a push notification with a message of confirmation. You can also refresh the website to see your current stake position.
You’re done. You will get your bi-weekly payments once you have completed all of the above steps. If the volume of the exchange increases, you can make a large profit. After the stake period, you will be able to withdraw or trade your BCO.
