What is a Payout Address?
A payout address acts as a bank account number for your cryptocurrency transactions. When participating in a shared masternode on Crypos, this address is designated to receive your earnings and withdrawals.
It's crucial to use the correct address. If you enter it wrong, you might lose your funds, and coins won't be retrievable.
Set Up Your Payout Address
If you're new to a particular coin on Crypos, or haven't yet set up a payout address for it, you can do so when buying a share in a masternode.
go to 'Shared Masternodes'
pick the coin you're interested in and choose "Buy Share"
In the first step, if you haven't previously provided a payout address for this coin, you'll be prompted to enter one
Note: If you've already added a payout address for the selected coin in the past, you won't be asked to enter it again during this process. To update or change an existing payout address, you'll need to do so via the 'My Wallets' page in your user profile
Updating Your Existing Payout Address
If you've already added a payout address for a specific coin but need to update it, follow these steps:
Access Your Wallet Settings:
Click on your profile icon located at the top-right corner of the Crypos platform.
From the dropdown menu, select "My Wallets."
Locate the Address to Update
In the "My Wallets" section, you'll see a list of your added payout addresses for different coins.
Find the address for the coin whose payout address you want to update.
Edit Your Payout Address
Click on the 'edit' icon located next to the selected coin.
Enter your new payout address carefully in the provided field
Enter the 2FA code to verify your identity and authorize the update
Creating a Payout Address:
This address can be created in any cryptocurrency wallet compatible with the specific coin being used. Simply create a new "receiving" address and copy it to Crypos upon request.
Note: It is preferable to use a personal wallet rather than an exchange wallet. Why? Because exchanges can change your deposit address without warning. They can also block your account if they think your frequent transactions are related to mining.
Remember that using the right payout address is very important for a hassle-free earning experience.