You can send and receive NXS anywhere in the world for free, and earn up to 3.0% on your holdings. NXS provides a reward rate to ‘stakers’ of between 0.5% to 3.0 per annum for securing the network by processing transactions for other people.
The creation of NXS is very different to the issuance of tokens via Initial Coin Offerings (ICOs), which are produced at zero cost. Instead, the process of creating NXS requires mining (similar to that of BTC) or staking, which gives a base value to the currency being backed by the physical resources required to create each individual NXS coin.
There are three ways to obtain NXS:
Staking is an energy efficient form of mining that processes transactions and provides security to the Nexus Blockchain. In order to Stake, you must hold your NXS in a Nexus Wallet. In return, you are rewarded NXS at a rate of 0.5% to 3.0% per year on your holdings.
Mining is a process in which a computer program is run by high-performance hardware to process transactions and provide security to the Nexus Blockchain. In return, miners are rewarded NXS.