How Does Staking Work?
Staking allows users to generate returns by depositing their digital assets for a specified lock-up period. These locked digital assets can be redeemed on the redemption date indicated for each subscription. If you choose to redeem early, your digital assets will be returned to your 'Wallet'.
How Many Crypto Assets Can Be Earned?
There are a total of 85 crypto assets, both tokens and coins, that can be staked or earned.
What Happens if I Choose to Redeem Early?
You can redeem certain Locked Products (including those with a Fixed Interest Rate) before expiration. After selecting early redemption, the assets will be returned to your "Wallet" within 48 to 72 hours. However, accumulated rewards will be forfeited, and rewards already distributed will be deducted from the principal amount returned.
What Are the Benefits of Locked Products?
Locked Products offer an Annual Percentage Rate (APR) that can fluctuate daily. These earnings will be accumulated one day after subscribing, starting from 00:00 WIB. You will start receiving earnings distributions in your Wallet one day after accumulation (two days after subscribing) between 00:00 WIB and 08:00 WIB.
Why Does the APR Fluctuate?
The APR for Locked Products is determined by various factors carefully designed to ensure sustainable and competitive rewards for Simple Staking users. The APR provided to Simple Earn users is non-binding and does not indicate profitability in various Tokocrypto operations. Please note that the APR of Locked Products can be updated during the locked period.
Calculation and Distribution of APR for Locked Products
Reward = Deposited Assets x APR/365 (up to a certain number of decimal places depending on the crypto asset)
Please note that the APR can change daily. The estimated reward displayed at the beginning of your subscription may differ from the actual reward generated.
Does the APR change Affect My fixed Interest rate-locked product Subscription?
Tokocrypto may revise the Fixed Interest Rate Offer at any time. However, the revised interest rate will not affect or change your existing Fixed Interest Rate subscription. Your existing Fixed Interest Rate subscription will continue to use the APR offered when you subscribe.
For example, if you subscribe to a Locked Product with an APR of 5%, this interest rate will not change throughout your Simple Staking Locked Period. If the APR is revised to 3%, the change will only affect new subscriptions created after the APR update.
What Happens if I Redeem My Subscription Earlier Than the Specified Period?
For certain Locked Products, you can redeem your assets at any time before maturity. However, early redemption will result in losing all your rewards. The principal amount redeemed will be reduced by the number of rewards distributed to your Wallet.
How is APR Determined, and What Are the Sources of Earnings from Staking?
The APR for Staking is determined by Tokocrypto's policy, which considers several factors carefully designed to ensure the provision of competitive and sustainable earnings for users. Tokocrypto may also run promotional campaigns sponsored by project partners occasionally and inform users through short-term promotional APR offers for selected tokens.
Are There Any Additional Fees for Using the Staking Feature?
There are no additional fees for using the Staking feature on Tokocrypto. However, early redemption before the specified period may result in lost earned rewards.
What is the Tax Rate for the Earn Feature?
The tax imposed on users for the Staking feature is a Value Added Tax (VAT) of 1.2% and a Progressive Article 21 Income Tax of 5%, for a total of 6.2%. The tax is deducted directly from total earnings.
Staking products have different tax rate provisions than crypto trading transactions based on the provisions of the DJP Kemenkeu. We continue to provide the best service for users.
How Can I View My Staking History and Performance?
You can view your Earnings history and performance through the "My Plan" section on the Tokocrypto platform. You will find complete information about all active subscriptions, earnings generated, and redemption schedules there.
By understanding this FAQ, you are better equipped to leverage the Staking feature on Tokocrypto and maximize your digital asset returns. If you have further questions or encounter any issues, please don't hesitate to contact the Tokocrypto team through our 24/7 Live Chat support.
Thank you for your support! Sincerely,
The Tokocrypto Team