Frequently Asked Questions
General Questions
We are a Team of server administrators with an affinity with the world of cryptocurrency. We are dedicated to running secure and reliable staking validator nodes for an ever-growing list of cryptocurrency tokens. We are very active in various social media platforms and offer support around the clock.
Numis 101 is part of our ever expanding platform.
As we started learning about crypto we realized that a lot of the information found online is not easy to understand to the non-techie audience. This made us realize that there are many individuals out there that would like to be part of the world of cryptocurrency, but just don’t know how to get started.
Therefore, we decided we would also launch content with the sole purpose of teaching about crypto to anyone. Our Numis 101 website is still under development and will very soon be launched with content that will continue to be updated on a very regular basis.
A “token” often refers to any cryptocurrency besides Bitcoin and Ethereum (even though they are also technically tokens). Because Bitcoin and Ethereum are by far the biggest two cryptocurrencies, it’s useful to have a word to describe the universe of other coins.
Staking cryptocurrency
Staking cryptocurrencies is a process that involves committing your cryptocurrency assets to support a blockchain network and confirm transactions.
Staking can be a great way to use your cryptocurrency to generate passive income in the form of rewards, especially because some cryptocurrencies offer high interest rates for staking. Rewards earned are in the form of the original cryptocurrency committed.
Like many other staking providers, you have full control of your own wallet and no one else has access to your private keys. This means that only you have custody of your tokens. They are simply delegated with NeoNumis.
When you delegate your cryptocurrency, you let someone else use your tokens to produce blocks. You still own the currency, and you get a slice of any rewards generated. Delegation is a key component in proof-of-stake networks. It lets token holders take part in block creation, without effort or investment. Rewards earned are in the form of the cryptocurrency that was delegated.
It takes about 3 eras for your delegated tokens to become part of our validator node. Once that occurs, the reward payout for staking varies between the various cryptocurrencies we offer staking for. Please look at the rewards payment schedule section on our staking page for a clear understanding on how your rewards will be paid to you.
It takes 7 Eras to unbound your stake from the network and deposit the funds back in the liquid part of your Casper wallet. Each era is about 2 hours. Therefore, it will take approximately 14 hours for this process to complete.