SCNX :: Invest In The Future Of Crypto Assets
Binance UK has been ordered to cease all unregulated activities by 2021-06-30.
This reason alone should encourage Cardano stake holders to move their holdings back to their wallet as soon as possible. Once your transfers are completed, you can then stake to a private pool, such as SCNX.
Of all ADA currently staked, over 20% of this is held in a Binance stake pool. What happens to the Cardano network if users are locked out of their ADA holdings while a local government investigates the exchange?
Exchanges are for exchanging, not for staking. While I myself have used Binance in the past and will probably again in the future, I will not chance getting my ADA locked up on and exchange while they are under investigation.
Remember: ADA staked from your own wallet remains in your possession. It isn’t locked to one exchange or pool that may come and go overnight for various reasons. If a private pool such as SCNX closes, your ADA holdings are still in your wallet along with any rewards you have earned.
Why Choose SCNX?
The SCNX Cardano stake pool is a privately held and operated pool. The System Operator has 30 years of experience managing computational networks. I maintain multiple servers located on premises and off as necessary to give us the best coverage possible.
Unlike the stake pools on cryptocurrency exchanges, your ADA remains in YOUR wallet, not mine. There is no lock-down time either.
Staking in a private pool such as SCNX, you are free to spend, deposit or transfer to/from an exchange while you hold your ADA in your wallet. Your wallet’s balance within the stake pool you have delegated to will adjust to your in/out transactions without you having to get involved. Those changes in your balance will synchronize with your staking amount.
The SCNX stake pool is running on multiple servers:
- Server Location: Chicago, IL – USA
- Multiple other support servers: USA
Multiple relay nodes running around the globe bring the pool access to transaction processing world-wide through a dedicated data pipeline. This ensures transactions are available for processing and keeps all sides of the Cardano network informed.