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TokenPay Ultimate Staking & Encryption Lock Guide

By TokenPay Team | December 6, 2019, 3:51 PM

TokenPay Ultimate Staking & Encryption Lock Guide

TokenPay Ultimate Staking & Encryption Lock Guide

Have you ever wondered how you can encrypt your TokenPay Wallet & start staking? Do you have TPAY that you never want to lose and want to know how you can stake your coins? Look no further.

In this guide, we’ll teach you how to encrypt your wallet securely and start staking with ease. Crypto holding should never have headaches, and the TokenPay Wallets offer unprecedented ease of use for our users.

You can download these wallets by visiting our website, and checking out the Products section. There, you can download wallets for any platform you wish, including Windows, Mac, Linux, Android, iOS, or the Paper Wallet.

Keep in mind that with the TokenPay wallets, all of your funds and private signatures are yours, and yours only. We do not store any information about your seed phrases anywhere. This is why we urge everyone to keep them secure, even write your backup phrases on a physical piece of paper and keep it in your physical wallet. That way, you can treat it just like you would treat fiat currency: it’s all yours, in your pocket.

Hello everyone, it’s Ruben here and today I’m going to show you how to do staking with your TokenPay wallet, how to encrypt your wallet and how to unlock it only for staking. So what I mean with that is we still keep it locked but your wallet can still stake in the meantime. This only adds another level of security but it is never a hundred percent safe against malware and stuff like that you know never fully trusting that this doesn’t mean that you can get your computer infected or stuff like that. Always be very cautious with malware. So in order to do it you have to navigate to backup and here you will have ‘Encrypt wallet’ if you hit ‘Encrypt wallet’ you will get an option to get a passphrase.

So to keep this passphrase safe, write it down make – absolutely sure that you got it written down somewhere Properly. I would recommend 2 backups Really, as always I say keep one backup outside of your house – you know if anything burns down and stuff like that. It’s worst case scenario but you know better to be safe than to be sorry so after you have done it, your wallet will be locked and you will see this icon in order to do staking all you really have to do is – in ‘Options’ – as always you will have to enable staking and you will have to add TokenPay to your wallet.

TokenPay Wallet Overview
TokenPay Wallet Overview

Currently it says wallet is encrypted and currently locked. We hit the lock,left click, we fill in our passphrase and we make sure this is checked. So if you want to change your wallets then uncheck it but if you only want to do staking but still keep the wallet safe – like people can’t send coins away – then make sure this is checked and hit OK.

So what is happening now is the wallet is encrypted and currently been locked for staking only. So after 2 to 3 hours the coins will mature and I will be staking. It’s now instantly staking because my wallet was already staking so don’t panic if you just start staking – check in 2-3 hours. To get the most out of it you will have to leave your computer running 24/7 so if you close your computer you can do that however it will stop staking and it will need another two to three hours in order to get this staking started but staking gives you basically like free Token Pay, it’s Really, really good at the moment – not everyone’s staking.

Wallet Is Encrypted and Currently Unlocked For Staking Only.
Wallet Is Encrypted and Currently Unlocked For Staking Only.

It’s like one third at the moment, so that means a reward which is like 5% a year. It will go up three times as well which means currently with this weight I’m getting 15 % a year staking rewards so that’s really good. You know, if you want more explanation about the network weight we’ve got a video about that which will be linked at the end of the video. After you have encrypted your wallet I would very very much recommend that you make a new backup of your wallet.dat file and again keep the recovery phrase and the password very safe – so absolutely make sure you get another wallet.dat Backup.

S that was it, hope you guys enjoy this video. Good luck with staking – I mean lovely free TokenPay. Don’t forget to subscribe and follow us on Youtube, check out the official TokenPay Twitter. Join us on telegram, join us on Discord and follow the Instagram for TokenPay Memes and Gifs. Have a great day, I’m out, bye bye.

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