I could see that StakeIt would be working like a "bank" where you get interest for a certain amount of months. However, would that mean that our funds are just there and we could withdraw it anytime?
I have the same concern as him. And this would be an important question, Our funds, we can withdraw it anytime as well? Do we have full control of our funds and only us?
The staking service is a centralized option we provide for token holders.
When a token holder wishes to stake his tokens, he/she will have to:
1. Create an account on our website
2. Purchase the ‘staking service’ product (will be priced according to the fees described for each tiers on our whitepaper)
3. Send the tokens he/she wishes to deposit on the account
Remember, when you deposit tokens to your account, you are actually sending the tokens to our revenues address (where all tokens are destroyed immediately). The STAKE balance that gets credited on your account is an off-chain (points) token. When you withdraw, you are provided with your initial amounts + staked amounts entirely from our ‘staking reserves’ address. Yes, you can withdraw at anytime you wish to do so but there will be small fees as well as minimum withdrawal limits involved.