Tips & Tricks | Coin Tutor https://cointutor.org Crypto News and Discussion: Bitcoin and More! Wed, 14 Jul 2021 03:12:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 https://cointutor.org/wp-content/uploads/2021/04/icon.jpg Tips & Tricks | Coin Tutor https://cointutor.org 32 32 How To Withdraw Merchant Token (MTO) from Launchpad. https://cointutor.org/how-to-withdraw-merchant-token-mto-from-launchpad https://cointutor.org/how-to-withdraw-merchant-token-mto-from-launchpad#respond Wed, 14 Jul 2021 03:12:23 +0000 https://cointutor.org/?p=14472 Using MetaMask . .

Add MTO token to Metamask.

  1. Open Metamask.

  2. Scrow down to the bottom and click +Add tokens.

  3. Choose custom token

  4. 0xe66b3aa360bb78468c00bebe163630269db3324f

Add the MTO contract address above to “Token address” in the Custom token. Token Symbol key in MTO.

You can find the same MTO contract address in Etherscan website too: https://etherscan.io/token/0xe66b3aa360bb78468c00bebe163630269db3324f

After you do all the above; you will see 0 MTO in your Metamask account.

To link MTO launchpad to Metamask.

  1. Click MTO in Metamask.

  2. Click the “RECEIVE” in the MTO.

  3. Copy the address below the QR code. (this is your MTO receiving address)

  4. Go to Merchant token launchpad.

  5. Look for a blue box that say “set my withdrawal address”.

  6. Paste the address of the MTO receiving address you got from Metamask into Launchpad “set my withdrawal address”.

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel
]]> https://cointutor.org/how-to-withdraw-merchant-token-mto-from-launchpad/feed 0 BlockFi News! No Annual Fee, New Benefits for BTC Visa Credit Card https://cointutor.org/blockfi-news-no-annual-fee-new-benefits-for-btc-visa-credit-card https://cointutor.org/blockfi-news-no-annual-fee-new-benefits-for-btc-visa-credit-card#respond Thu, 03 Jun 2021 06:12:38 +0000 https://cointutor.org/?p=8479 The First Bitcoin Rewards Card Just Got Better!
Anyone who follows the cryptocurrency industry knows that the upcoming release of the BlockFi Rewards Visa Signature Card is set to be a game-changer. This brand new credit card pays cardholders 1.5% back in Bitcoin on every purchase they make and can be used globally, anywhere Visa® is accepted.

 

With the card rollout just around the corner, They have announced updated benefits designed to make the cardholder experience even better. First and foremost, they listened to their clients and have officially decided to eliminate the annual fee for the BlockFi Rewards Visa Signature Card.

 

Plus, there are no foreign transaction fees, so travelers can feel free to use their card abroad.

 

They have also increased the introductory earnings rate for cardholders. Clients who sign up for the card will now receive a 3.5% Bitcoin rewards rate for the first 90 days. In addition, they created a new rewards tier: Cardholders will earn 2% back in Bitcoin on every dollar spent over $50,000 annually.

 

Who doesn’t like getting even more Bitcoin?

Not Sure If You’ll Be Approved for the Card?

They’ve got you covered: applicants can see if they’re pre-approved without impacting their credit score before they apply. There’s a wide range of other bonuses they are offering to cardholders. They include:

 

      • Stablecoin Bonus — Cardholders with stablecoin assets such as GUSD, PAX, or USDC in a BlockFi Interest Account (BIA) can earn up to an extra 2% APY on top of the prevailing stablecoin APY. Over the first year of card membership, the stablecoin bonus will accrue based on cardholders’ average daily stablecoin balance.

     

      • Trading Bonus — The BlockFi credit card makes trading on BlockFi even more rewarding. Cardholders who trade cryptocurrencies on our platform will earn 0.25% of their trading volume back in Bitcoin, up to a maximum of $500 in BTC every single month. Trade more, earn more bonus bitcoin—it’s that simple.

     

      • Refer-a-Friend Bonus — We’re all about sharing the wealth. That’s why cardholders who make successful referrals to BlockFi earn an extra $30 in Bitcoin for each friend they refer, on top of our base Refer-a-Friend program. With this bonus, you can earn $40 in Bitcoin for each of your first four referrals and up to $50 in Bitcoin for each referral thereafter. Best of all, there’s no limit to how many referrals you can make and how much in bitcoin referral bonuses you can earn.

     

The Benefits Keep Coming!

“Our new credit card is going to be a major disruptor in the crypto industry, making it easier and more convenient than ever before for anyone to earn Bitcoin while engaging in day-to-day transactions,” said Zac Prince, Founder and CEO of BlockFi. “And thanks to our partnership with Visa, clients will enjoy the advantages of a product that can be used around the globe.”

 

On top of the rewards offered from BlockFi, cardholders will also receive a wide range of Visa Signature Benefits, such as:

 

        • Concierge — Cardholders will receive help to research and book travel, make dining reservations, find event tickets, and even help with shopping.

       

        • Auto Rental Collision Damage Waiver — Cardholders will receive auto rental coverage for physical damage, vandalism, theft, reasonable towing, and more.

       

        • Travel and Emergency Assistance Services — Cardholders will be connected to the right resources to help resolve a wide variety of travel emergencies.

       

        • Luxury Hotel Collection — Cardholders get the best available rate guarantee, automatic room upgrade upon arrival (when available), VIP guest status, and more.

And That’s Just the Tip of the Iceberg.

Cardholders will also be able to take advantage of auto rental discounts, golf benefits, food and wine programs, and much more.

 

If you haven’t signed up for the BlockFi Rewards Visa® Signature Credit Card waitlist yet, there’s no time to waste.

 

Claim your spot on the list today so you don’t miss out on amazing new opportunities to earn Bitcoin.



Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel
]]> https://cointutor.org/blockfi-news-no-annual-fee-new-benefits-for-btc-visa-credit-card/feed 0 Beginner Crypto Lesson 03 – Hard Wallets & Getting Paid Interest https://cointutor.org/beginner-crypto-lesson-03 https://cointutor.org/beginner-crypto-lesson-03#respond Wed, 19 May 2021 05:38:47 +0000 https://cointutor.org/?p=4491 Recap So Far

In Lesson 01 you learned how to sign up for an exchange and purchase the Crypto of your choice.

In Lesson 02 we briefly discussed Understanding & Using Your Crypto Wallets and the importance of Understanding Custodial vs. Non-Custodial Crypto Wallets, we also talked about Where NOT to buy Crypto: (Robinhood & PayPal to Begin With)

Keep in mind  – coins are not stored in your hardware or other wallet. Your wallet only stores and protects your private keys. People are used to storing bills and coins in their wallets, but in the blockchain world, your wallet doesn’t contain coins – it contains private keys.

NEVER SHARE YOUR PRIVATE KEYS! 

So in recap – you followed lesson 01 and bought Crypto, you followed lesson 02, your crypto is still sitting on an exchange. So now we need to move your assets to bullet-proof safe locations.  Time to get get a hard wallet.

Hard Wallets

A hard wallet looks like a thumb drive. You plug it into your computer and move your assets from an exchange to your own device that can be disconnected from the internet and stored in a safe, a shoebox, or buried in the back yard.

As long as the hard wallet is disconnected, your crypto assets are 100% safe.

There are 2 industry-leading Hard Wallets. Pick One. Buy One.

The Devil in the Details – Earn Interest on Your Holdings

You bought crypto, you moved it off the exchange into a hard wallet that is 100% secure.

Good job. However – here is a twist, if you keep some crypto on an exchange you can actually get some amazing interest rates.

This is where you need to assess your risk tolerance. You can earn interest on some exchanges.

      • CoinBase – Horrible Rates, That’s a no from me, but it’s a low barrier to entry so a lot of people will just let it ride on that exchange.
      • Block Fi – Great rates but look at the tiers
      • Voyager – Seems to be the best as of this writing. Fewer restrictions and pretty straightforward.

BTC, ETH, LTC, etc. go up and down 9n value, but in the meantime, you are earning interest regardless of the price.

Finally – What Is Your Bank’s Interest Rate?

Take a moment to read A Basic Guide To Understanding Cryptocurrency Stable Coins

If you have $1000.00 in the bank, why not move that cash into BlockFi or Voyager as USDC and get an 8%+ interest rate?

More on that in the next lesson!

 

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel
]]> https://cointutor.org/beginner-crypto-lesson-03/feed 0 How To Add Custom Networks (Binance, Smart Chain, Polygon, Avalanche, Etc.) to MetaMask. https://cointutor.org/how-to-add-custom-networks-binance-smart-chain-polygon-avalanche-etc-to-metamask https://cointutor.org/how-to-add-custom-networks-binance-smart-chain-polygon-avalanche-etc-to-metamask#respond Tue, 18 May 2021 08:03:57 +0000 https://cointutor.org/?p=6055 How to Add Custom Networks To MetaMask

Some incorrectly think that MetaMask sets the high fees and tries to rip them off. In reality, it’s market demand for a blockchain network that sets the prices. MetaMask has no control over this.

If things get expensive in one network, you can go to another with possibly lower fees, while Ethereum begins to scale and lower costs.

TL;DR:

    • Custom networks are Ethereum compatible networks.
    • Gas is determined by a network’s demand, not by MetaMask or any wallet provider.
    • Different networks have different gas fees based on their design and demand.
    • Sidechains and Layer-2 solutions are types of custom networks you can add to MetaMask. They may have lower gas fees at the expense of decentralization or security.
    • Sidechains and Layer-2 solutions mainly differ on how their blocks are validated.
    • Examples of custom networks are Binance Smart Chain, Polygon (MATIC), Huobi ECO Chain, Avalanche, and xDai.

After successfully installing (or re-installing) MetaMask and securing your secret recovery phrase (aka seed phrase), you decide you want to interact with custom networks.

How do you do this? Well, first of all, what are custom networks?

What Are Custom Networks?

Custom Networks are non-Ethereum networks that are EVM compatible (Ethereum Virtual Machine). They are based on Ethereum but are not Ethereum. Think of them as siblings or relatives of Ethereum. They share many of the same features but differ in some key ways.

Their similarities are in that they execute smart contracts in a similar manner. The differences can lie in reaching a consensus (agreement between the different nodes) and how much data can be placed in their blockchain’s block.

Since they are Ethereum based networks, your addresses will be the same across all the networks. That means that a single secret recovery phrase (aka seed phrase) can access your assets across all your accounts and networks.

Reminder: Never share your seed phrase, aka secret recovery phrase.

Why Do These Blockchains Differ?

Different blockchains can be used for different needs. As the industry evolves, many will specialize in different use cases. Broadly speaking, blockchains can specialize via three avenues: scalability (high throughput), decentralization, or security. This is known as the security trilemma, and it states that blockchains can have 2 of 3 properties, but not all three. This is called the security trilemma.

A blockchain-based video game with a high volume of small transactions will have different needs than a borrowing/lending protocol. The video game will need high throughput and be willing to sacrifice a bit of security. The borrowing and lending protocol would value security and decentralization over higher throughput. The real-world effects of this trade-off are that less scalable blockchains lead to higher gas but are more secure.

Each network typically has its own custom token used to pay for network activity. Ethereum uses ETH (Ether). Binance uses BNB. MATIC is the native token for Polygon.

MetaMask and Gas Fees

The reason gas prices are high is not due to MetaMask controlling the fees. MetaMask is just the interface to the internet of value. It is similar to how your web browser is an interface to the internet of information.

No wallet can control the gas fees on a blockchain network because its demand determines those. There is a scarce amount of space on a blockchain’s block, bided up by those who want their transactions confirmed. Currently, miners pick the fees which pay the most to maximize profit and remain incentivized to run the network.

What are Side Chains vs Layer-2?

Both sidechains and Layer-2 chains are scaling solutions to allow more transactions at a cheaper cost by offloading them from the main network. Think of them as side streets that cars can drive to reduce traffic on Main Street.

In broad terms, the difference between sidechains and layer 2 is how the network is secured. Sidechains secure their network by having their own validators or miners. That means they have greater independence and flexibility. However, depending on the number of block validators, less security.

A side note: Validators are like miners in their role of verifying network transactions. However, how the independent nodes agree on their shared state (the consensus mechanism) is Proof of Stake versus Proof of work.

Layer-2 solution latches onto the main network and leverages the main nets validators for security. This increases their security but reduces independence and customizability.

Popular Custom Networks:

The most popular custom networks as of writing this (circa May 2021) are:

    • Binance Smart Chain
    • Polygon (MATIC)
    • HECO (Huobi Eco Chain)

Please note that Polygon used to be called Matic. After the rebranded, their token is still called MATIC.

Others that are starting to see traction include:

    • Avalance
    • xDai

Crypto is fun! Experiment with different networks and discover new things. Ethereum is the leading and most secure network that is fast becoming the settlement network for the world.

However, due to high gas fees, many are locked out. Rather than not get in on the fun, try out new chains, including many of the Layer-2 and sidechain solutions coming out now.

In General, How Do I Set Up Custom Networks?

Perhaps your custom network is not described here. That’s ok. As the ecosystem grows, more chains will come out.

Usually, you can visit a protocol’s website. They will have information on how to configure MetaMask as a custom network.

Please beware of getting this information from the project’s official website. It is possible to be connected to an imposter network and be subject to phishing or losing your funds.

What is the Difference Between Mainnet and Testnets?

Mainnet is where tokens have real value. Testnets are places where developers test their smart contracts. Testnet token does not have value.

Testnet tokens are given out for free via faucets. However, they are distributed in small amounts to ensure people don’t hoard them.

Avoid being tricked into thinking that your testnet tokens will convert into mainnet tokens and paying a fee.

How to Add a Custom Network on MetaMask?

Easily find the section to add Custom Networks on MetaMask like shown here.

Once you are in this section, configure the fields to the information for the Ethereum compatible blockchain network of your choice.

Please note that neither Bitcoin, Dogecoin or Cardano are NOT Etheruem compatible, so they cannot be added to MetaMask and require their own wallet.

Also, please note that Binance Smart Chain (BSC) is different from Binance Chain. Binance Smart Chain is Ethereum compatible smart contract platform and can be added. You can tell the network is BSC instead of Binance Chain since BSC addresses start with 0x (followed by the address), while Binance Chain starts with bnb (followed by the address).

 

MetaMask-find-custom-networks

How do I set up Binance Smart Chain?

Binance Smart Chain Mainnet

Network Name: Binance Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com

Binance Smart Chain Testnet

Network Name: Binance Smart Chain – Testnet
New RPC URL: https://data-seed-prebsc-1-s1.binance.org:8545/ 1
ChainID: 97
Symbol: BNB
Block Explorer URL: https://testnet.bscscan.com

How do I set up Polygon (MATIC)?

Polygon Mainnet

Network Name: Polygon Mainnet
New RPC URL: https://rpc-mainnet.maticvigil.com/ 2
ChainID: 137
Symbol: MATIC
Block Explorer URL: https://explorer.matic.network/ 2

Polygon Testnet

Network Name: Mumbai TestNet
New RPC URL: https://rpc-mumbai.maticvigil.com/
ChainID: 80001
Symbol: MATIC
Block Explorer URL: https://mumbai-explorer.matic.today/ 1

How do I set up xDAI?

For more mainnet info, please see their official docs..
For more testnet info, please see POA’s official docs..

xDAI Mainnet

Network Name: xDai
New RPC URL: https://rpc.xdaichain.com/
ChainID: 0x64
Symbol: xDai
Block Explorer URL: xDai (xDAI) Explorer

xDAI Testnet

No Testnet is available for xDai. For testing purposes, it is recommended that developers first deploy to the POA Sokol testnet.

POA Core is an autonomous network secured by a group of trusted validators. It is essentially a separate network with its own set of validators versus using Ethereum.

Network Name: Sokol Testnet
New RPC URL: https://sokol.poa.network
ChainID: 77
Symbol: SPOA
Block Explorer URL: POA Sokol (POA) Explorer

How do I set up Avalanche?

For more mainnet info, please see their official docs.
For more testnet info, please see their official docs.

Avalanche Mainnet

Network Name: Avalanche Network
New RPC URL: https://api.avax.network/ext/bc/C/rpc
ChainID: 0xa86a
Symbol: AVAX
Block Explorer URL: https://cchain.explorer.avax.network/

Avalanche FUJI Testnet

Network Name: Avalanche FUJI C-Chain
New RPC URL: https://api.avax-test.network/ext/bc/C/rpc
ChainID: 43113
Symbol: AVAX
Block Explorer URL: https://cchain.explorer.avax-test.network

Avalanche Local Testnet (AVASH)

Network Name: Avalanche Local
New RPC URL: http://localhost:9650/ext/bc/C/rpc
ChainID: 43112
Symbol: AVAX
Block Explorer URL: N/A

How do I set up HuobiChain?

For more mainnet info, please see their official docs. 1
For more testnet info, please see their official docs.

HuobiChain Mainnet (International)

Network Name: HuobiChain- Mainnet
New RPC URL: https://http-mainnet.hecochain.com
ChainID: 128
Symbol: HT
Block Explorer URL: https://hecoinfo.com

HuobiChain Mainnet (Mainland China)

Network Name: HuobiChain- Mainnet (China)
New RPC URL: https://http-mainnet-node.huobichain.com
ChainID: 128
Symbol: HT
Block Explorer URL: https://hecoinfo.com

HuobiChain Testnet (International)

Network Name: HuobiChain Testnet (International)
New RPC URL: https://http-testnet.hecochain.com
ChainID: 256
Symbol: HT
Block Explorer URL: https://scan-testnet.hecochain.com

HuobiChain Testnet (Mainland China)

Network Name: HuobiChain Testnet (Mainland China)
New RPC URL: https://http-testnet.huobichain.com
ChainID: 256
Symbol: HT
Block Explorer URL: https://scan-testnet.hecochain.com

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel

 

]]> https://cointutor.org/how-to-add-custom-networks-binance-smart-chain-polygon-avalanche-etc-to-metamask/feed 0 Eliminate Almost All Exchange Fees – Swapping Crypto Using XLM https://cointutor.org/use-xlm-to-almost-eliminate-exchange-fees-when-swapping-crypto https://cointutor.org/use-xlm-to-almost-eliminate-exchange-fees-when-swapping-crypto#respond Sun, 09 May 2021 07:01:23 +0000 https://cointutor.org/?p=5240 Want To Save Money Exchanging Coins?

XLM is almost perfect for moving between exchanges, here’s why…

You may be able to save yourself hundreds of dollars in fees if you apply this strategy.

It’s especially useful if you’re constantly moving around smaller amounts between exchanges and you’re a frequent buyer of smaller cap coins from exchanges like KUcoin.

Numbers Change – Stay Flexible!

As soon as I type this exchange rates and coin values are going to change so you have to be flexible.

The underlying principle is sound, the numbers will surely fluxuate.

Here’s Why. Some Math(s)

The current minimum on Binance for withdrawal for BTC is currently 0.001 which is $56.

Every transaction comes at a cost of 0.0005 BTC which is $28, meaning if you’re looking to withdraw around $280 you’re already around 10% down.

Over time, if you’re frequently looking to buy smaller coins not listed on major exchanges, this really starts to add up.

Similarly, with Eth, the minimum withdrawal amount is 0.016 which is about $63 with a fee of 0.005 on every transaction which is around $21 every transaction.

If you are looking to withdraw $280 there you’re down around 8%.

The Trick

Looking at XLM, the minimum withdrawal amount is 40 which is about $22 at the current prices.

What really stands out though is the transaction fee, you’re looking at an 0.02 fee every time which is less than $0.01!

The great thing about XLM is that it’s also available on the vast majority of exchanges, so converting it back after is super easy.

There are other coins that work with the tiny fees, but in terms of availability, they aren’t always listed across exchanges.

XLM may be the perfect middle ground!

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel
]]> https://cointutor.org/use-xlm-to-almost-eliminate-exchange-fees-when-swapping-crypto/feed 0 The Ultimate Guide to Banano. How To Buy Banano (BAN), Get Free BAN, & All Things BAN. https://cointutor.org/how-to-buy-banano-ban-get-free-bananos-more-about-banano https://cointutor.org/how-to-buy-banano-ban-get-free-bananos-more-about-banano#respond Fri, 07 May 2021 06:19:42 +0000 https://cointutor.org/?p=4871

Banano? Seriously?

I am very cautious about strange new coins, but I am having a lot of fun with BAN. I think it has the potential to grow in value, but what I REALLY like is that you can get free tokens by supporting Folding@Home. 

So, Yup – Banano. Here is the chart. Let’s talk about it.

Folding@Home (FAH or F@H) is a distributed computing project aimed to help scientists develop new therapeutics for a variety of diseases by the means of simulating protein dynamics. This includes the process of protein folding and the movements of proteins and is reliant on simulations run on volunteers’ personal computers.

Essentially, you get the FAH software and your computer becomes a part of a larger network that becomes a super-computer helping small labs around the world solve problems. Cancer Research, Covid-19, and a bunch of other research. Read the Wikipedia Entry and I know you will want to be involved.

So you can earn BAN by running FAH, that’s the way I do it. But, you can also purchase BAN, more on that below.

Banano Basics

    • Banano (BAN) is a fork of the cryptocurrency NANO and was started in April 2018.
    • Banano has next-generation tech, free and fair distribution, and a weirdly fun community.
    • Using Banano is intuitive and easy. Transactions are feeless and instant.
    • Banano utilizes a novel DAG (Directed Acyclic Graph) based architecture, where each user possesses his own blockchain.
    • Official website: Banano.cc | Official Banano Blog

Get a Wallet to Store Your Banano

Install Kalium (mobile wallet for Android or iOS) – and now you have a wallet.

You can also create an online wallet online at BananoVault – But I recommend Kalium for a number of reasons I won’t get into

Your address should look like this:  ban_3giucfuwpwi5k8za8epyixpapybpg6oq6tyhfaj57d7haafnic4wgbjsmmhr

Get Some Free Banano To Test The Water

To date, the easiest ways to get free BAN (Just enter your address) are:

Research and Directions for BananoBust

      • BananoBust – The folks from the Banano Subreddit pointed out that you can get .03 BAN (a Banoshi) every hour without gambling. I was able to claim my first .03 but the interface is a little confusing and I haven’t been able to get any more.
        • So far I can log in, click on my username, see the “Get Free Banoshi”

But when I follow that link I get this screen with no free Banoshi:

That was confusing – But!

 SherbertSavings287 pointed out: 

You get 0.03 ban hourly. You can only claim it if you have 0 balance, so each time you claim from the faucet, just withdraw it immediately to your wallet. Then you get 0.03 after 1 hour again. It’s not necessary to bet.

So based on that info I tried to withdraw my 3 Banoshi:

Progress!  – But I got this error after I hit SUBMIT (Sad Trombone):

Stand By! Figuring it out! . . . . And Progress! 

The next day I can see the withdrawal actually came through so who knows what the error was all about.

And then I was able to click on PLAY NOW and the option to claim .03 BAN came up, Clicked it, and was immediately able to withdraw it this time I see:

So it looks like BananoBust is a legit faucet! I am not a fan of the gambling aspect but to each their own!

Work For It! Folding@Home

Where other crypto-enthusiasts HODL.  We FODL
“FODL” – Copyright 2021 – ME!

Once you have your Kalium wallet set up go to the Banano Miner page and enter your address. You will get two settings to plug into the F@H software:

After you download the F@H software use your User ID and Team ID to get free BAN for running the software.

Also, get a Passkey (just follow the directions) as you get extra BAN if you do so.

Once the F@H software is running you’ll be able to check your settings and make adjustments via the software on your PC, from this website interface,  and from Monkey2Monkey (Enter your User Id, not your wallet address)

How To Buy Banano

I am not cheerleading buying the coin, it’s a moonshot, I like getting it for free, but if you feel the need to:

      1. Create an Account at CoinEx
        As this is a Chinese company I DO NOT recommend adding the app to your phone, I haven’t read the TOS (Terms of Service), but I am not a fan of adding Chinese apps to my phone. (Looking at you Tik Tok! )
      2. Use whatever Exchange you are comfortable with such as Voyager, BlockFi, Binance, KuCoin, or Coinbase.
      3. Buy ALGO or exchange another token for ALGO
      4. Send the ALGO to your CoinEx account
      5. Exchange your ALGO for USDT.
      6. Exchange your USDT for BAN
      7. Send your BAN from CoinEx to your Kalium Wallet

Enjoy your sweet, sweet potassium.

How Many Banano Do I have?

You can easily see your Banano wallet balance by checking it here

Tip Banano in Reddit!

All setup?  Fun fact! There is a Banano SubReddit and you can tip people!

This Github page gives you the directions and terminology, but basically

To get started with Banano Tipper, either:

A) Create an account by sending a message to /u/banano_tipbot with ‘create’ or ‘register’ in the message body. You will receive a Banano address, to which you can add Banano*.

-or-

B) Receive a Banano tip from a fellow redditor, and you will automatically have an account made! be sure to activate it afterwards by sending a message to /u/banano_tipbot. Once you have funds in your account, you can tip other redditors, or send to any banano address via PM to /u/banano_tipbot.

Looks like this in action:

 

Key Reddit TipBot Commands

      • DM register to get an account address
      • DM address to see your account address
      • DM balance to retrieve your current balance
      • Comment !ban 100 – on the Banano subreddit to tip 100 BANANO to the author of post or comment.
      • Comment /u/banano_tipbot 200 – on any subreddit to tip 200 BANANO to the author of the post or comment.
      • Comment /u/banano_tipbot 40 /u/dancurranjr – on any subreddit to tip 40 BANANO to a user.
      • To send BAN from Reddit to your Wallet (Kalium, etc) -Type  send 7 ban_3giucfuwpwi5k8za8epyixpapybpg6oq6tyhfaj57d7haafnic4wgbjsmmhr
send <amount> <address>

Example to send 200 BANANO:

send 200 ban_3giucfuwpwi5k8za8epyixpapybpg6oq6tyhfaj57d7haafnic4wgbjsmmhr

Swap Reddit MOON for BAN and Vice Versa

Kuyumcu is a cryptocurrency Atomic Swap Service.

It allows you to exchange Moon to Banano and vice-versa. The balance will be available in your personal wallet instantly.

There are no transaction fees. Transactions are carried out at the current exchange rate of Kuyumcu, which can be seen on the buy/sell buttons and on the deposit page.

More info is available on their FAQ Page.

What is a Reddit MOON You Ask?

Moons are a way for people to be rewarded for their contributions to r/CryptoCurrency.

Claim your Moons in the new Vault section of the Reddit iOS or Android app – won’t work on the website – has to be the mobile app.

They represent ownership in the subreddit, they are tokens on the Ethereum blockchain controlled entirely by you, and they can be freely transferred, tipped, and spent in r/CryptoCurrency.

Moons are distributed monthly based on individual contributions (comments, posts, etc.) that people make in r/CryptoCurrency. Reddit karma provides a basis for measuring people’s contributions, but the final decision is up to the community.

Full details here

What is the Deal With wBan Wrapped Banano?

In June of 2021 Wrapped Banano (wBan) hit the scene. See What are Wrapped Tokens for more info

I am working on step-by-step directions with a few reditors, in the meantime, this is a good video I was sent from a fellow Monkee – AnthraxBite

Final Thought. Your Thoughts?

There are a lot of shitcoins out there.

Banano is fun and it will be interesting to watch it grow and evolve.

I love the Folding at Home aspect. The community around the coin is growing as are the various websites and services.

What do you think? Comment below!

And Send Me Some Tasty Bananos!

ban_3giucfuwpwi5k8za8epyixpapybpg6oq6tyhfaj57d7haafnic4wgbjsmmhr

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel

]]> https://cointutor.org/how-to-buy-banano-ban-get-free-bananos-more-about-banano/feed 0 Viewing Balances on Your MetaMask, Trust Wallet or Other Web3 Crypto Accounts https://cointutor.org/viewing-balances-on-your-metamask-or-other-web3-crypto-accounts https://cointutor.org/viewing-balances-on-your-metamask-or-other-web3-crypto-accounts#respond Thu, 22 Apr 2021 05:47:10 +0000 https://cointutor.org/?p=1781 This is a tip I stumbled onto and wanted to share for anyone using MetaMask or other Web3 Wallets. The website is super simple to use and I hope this makes life easier for other crypto owners.  There may be other ways to accomplish this, but I love the simplicity. I look forward to your comments.

Presenting – Zerion.io

Zerion does not have user accounts – instead they connect to Web3 wallets that link your browser or smartphone directly to the Ethereum network. You can download and install any of these wallets:

Once you connect MetaMask or another wallet you can see:

An Overview of Your Crypto on That Wallet:

The Current Value and Profit / Loss:

A Complete History of Your Coins:

 

The site does a lot more than that but personally, I only use it to see coin values at this point. It does have a built-in exchange and other features you can explore.

Here is some additional information to get you started but again, the main point of this post was to show you a way of seeing the value of your cryptocurrencies in MetaMask and other Web3 wallets.

Linking your Web3 account to Zerion

Go to app.zerion.io and select how you would like to sign up based on the Web3 account you’re using.

Connect Your Wallet to Zerion’s Mobile App

  1. Download the Zerion app for Android or iOS
  2.  Import your Zerion wallet or manually input your wallet address. To import, scan the QR code that pops up after clicking “Settings” → “Export to mobile” on the Zerion web app. You can add as many addresses as you like, including wallets that are not your own!
  3. You can now use the app to track the DeFi market and evaluate your portfolio. But if you want to take things a step further, you’ll need a mobile wallet that is compatible with signing mobile transactions.

The Zerion Exchange

They integrated every major DeFi protocol and liquidity provider, which means your favorite portfolio tracker just became an easy and affordable place to invest in DeFi.

How it Works

Zerion lets you buy and sell DeFi tokens in a single transaction. On the backend, the execution engine will find the cheapest and fastest route for your trade. This process is powered by DeFi SDK, a library of smart contracts that acts as a universal adapter for every DeFi protocol.

Example #1: When investing in yearn.finance vaults through Zerion, they automatically route you between buying yTokens on Uniswap or minting them — whichever works out cheaper.

Example #2: You no longer need to hold all of the underlying tokens in a liquidity pool to become a liquidity provider. Zerion lets you buy LP tokens for Uniswap, Curve, Balancer and Sushi in a single-asset trade.

Liquidity sources

Zerion sources liquidity from every major decentralized exchange (DEX), DEX aggregator, and automated market maker (AMM), including:

    • Uniswap
    • Balancer
    • Curve
    • 1inch
    • 0x
    • DODO
    • Sushi

The Best Part? Zero Commissions!

Zerion does not charge additional fees for placing trades through their app.

As Always  – I Look Forward to Your Feedback, Analysis, Comments, and Advice.

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel

]]> https://cointutor.org/viewing-balances-on-your-metamask-or-other-web3-crypto-accounts/feed 0 How to Avoid Common Cryptocurrency Scams (Basic) https://cointutor.org/how-to-avoid-common-cryptocurrency-scams-basic https://cointutor.org/how-to-avoid-common-cryptocurrency-scams-basic#respond Wed, 21 Apr 2021 03:28:38 +0000 https://cointutor.org/?p=1861 If you have fallen victim to a cryptocurrency scam, you’re not alone, and millions of people around the world have been taken advantage of by these swindlers. Furthermore, a total of 1.7 billion dollars was lost to cryptocurrency scams during 2018 in the US alone.

Here is a basic guide to avoid losing your coins, at some point I may write an advanced version:

    • Stay away from any initial coin offering that guarantees that the cryptocurrency will take off.
    • Make sure that there is plenty of accurate information about the coin that’s being created, and if insufficient information is offered about the cryptocurrency, it may be a scam.
    • Be on the lookout for shady practices, including market manipulation and insider trading.
    • Read the Whitepaper (See: How to Read & Analyze a Crypto Coin Whitepaper)
    • If you find that the bulk of investments in the altcoin are from a singular individual or organization, this is a major warning sign.

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel
]]> https://cointutor.org/how-to-avoid-common-cryptocurrency-scams-basic/feed 0 How to Read & Analyze a Crypto Coin Whitepaper https://cointutor.org/how-to-read-analyze-a-crypto-coin-whitepaper https://cointutor.org/how-to-read-analyze-a-crypto-coin-whitepaper#respond Sun, 18 Apr 2021 21:50:31 +0000 http://cointutor.org/?p=717 What is a Whitepaper?

Before learning about cryptocurrency, I had never read a whitepaper. Now I read one to two per week.  It’s the least I can do when trying to decide whether to invest in a new crypto project. Although there really aren’t any rules on what a white paper should include, a good white paper will provide details about the utility of the project, technical specifications, evidence-based market research, risk analysis, security procedures, and so forth. Hopefully, it’s written in a way that makes it easy for the reader to understand the value the project holds and what problem it is trying to solve.

Essentially you are looking to answer these fundamental questions:

    • Is the project legitimate?
    • Is the team experienced enough that it can deliver?
    • Is there a market for the proposed product or service?
    • Who are the competitors? What function will the token have?
    • Could this token be replaced by an existing cryptocurrency?
    • Etc.

Why Read a Whitepaper?

While most folks these days read cryptocurrency whitepapers to decide whether to invest in the project’s Initial Coin Offering (ICO), there are several other reasons to find a cozy chair and spend an hour reviewing the merits of a new project. Maybe you’re just interested in the project and what to learn more.  Maybe you want to invest after the ICO has already taken place. Or many you want to contribute to the project’s open-source code or even get hired by the team. Regardless of the reason, reading the whitepaper is a great place to start, and its table stakes for getting investors, businesspeople, and developers interested in the idea.

Elements of a White Paper

So what are the elements of a good white paper?  At a minimum, the white paper should cover the following topics:

1. What does the project do?

This is pretty straightforward — in reading the white paper you should be able to figure out the exact function or purpose of the project.  What does the technology actually do? Does it create a new cryptocurrency? Does it create a decentralized travel agency? Or does it create a platform where buyers and sellers can exchange real estate?  If you can’t figure out what the project does right away, chances are the idea is not fully baked or the white paper is not well-written.

2. Why is this project being developed?

The second element the white paper should address is WHY the project is being developed.  What problem is the project trying to solve? What is the scope of this problem? And who does it impact?

The WaBi white paper, for example, does a great job of addressing the problem it’s trying to solve — it is trying to prevent counterfeiting in China, which “claims thousands of lives and costs billions of dollars.”

3. How Will These Issues Be Solved?

For many people, this is where it can get hairy.  You understand the problem and why it should be solved, but you get caught up in the HOW.  This happens to the best of us — especially those of us without a technical background. Sludge through this part of the white paper if you must and then look for other resources, such as articles and videos, to help you understand the tech and why it is or is not viable.

To the extent that you’re able to understand the project’s technical aspects, you should consider them critically.  If the project incorporates a blockchain, is it required? Is it worth going through the expense of creating a decentralized blockchain when a modest web app with a centralized database will do?  Does decentralization ultimately benefit the project’s purpose? Food for thought.

4. Who Is On the Team?

The next critical element to understand is who is leading the project.  Who is on the team? What is their experience? How long have they been working on relevant or related projects?  Do they have the experience to execute their grand plan?

Do not underestimate the importance of a vibrant and creative team.  A great team can turn a crappy idea into a great one. It’s called pivoting.  Conversely, a weak team can run a great idea into the ground. Make sure you research your team members — look them up on LinkedIn and Google their names individually.  You would be surprised at the number of scams projects pull with their team members. Look for all-stars and nothing less.

5. When Will Milestones Be Completed?

First of all, if the white paper does not include a roadmap, that’s a bad sign.  At a minimum, the white paper should include the project’s progress to date; if there hasn’t been any progress, then you’re reading about an idea and not a real business.

A bona fide roadmap will include milestones for the next 12 to 18 months.  Typical project milestones include the exchange launch, the test-net launch, and the main-net launch. Think critically about the milestones.  Are they realistic? Are they too long or short? If you’re an investor, when will you be able to realize a profit, and does that timeline work for you?

6. What Are the Tokenomics and How Will Funds Be Used?

Lastly, if you’re reading a whitepaper for a future ICO, you will want to analyze the “tokenomics” of the project — the economics related to how tokens will be created, how many will be issued, at what price, and what they will be used for. Here are few issues to consider:

Fundraising caps

What is the hard cap for the project?  What is the maximum amount of money the project will raise?  Consider that amounts for $50 million are very high. On the flip side, raised amounts under $5 million may be too small for the project to succeed.

What is the cap for individual investors?  Can some wealthy investors control the project?  If so then others will be beholden to their decisions when they sell.

Bonuses

Are pre-sale bonuses being offered?  This is a tactic used to attract whales. A 30-40% bonus is probably reasonable for most projects.  That said, if the bonus created too large of a gap between the lowest-paid price per token and the highest during ICO, this could result in the early dumping of the token, IF presale tokens are not locked for 3-6 months after being listed on an exchange.

Token supply

And what about the token supply?  How many tokens will be issued? And what will happen to unsold crowdsale tokens? Will they be:

    1. Burned — permanently destroyed, which reduces the total supply?
    2. Kept by the company?
    3. Distributed in a certain way?

Each option can impact the total or circulating supply massively, so it is important to be aware of the project’s plan for unsold tokens.

Token value and market cap

At what price does the token value have to reach in order for you to realize an appropriate return on your investment?  How does this price compare to the potential market cap of the project based on its industry? Let’s say a reasonable market cap for a project in the same industry is $50 million.  But in order for the token to reach a $10.00 valuation, the market cap of your project would have to reach $100 million based on the total or circulating token supply. Comparing the two projects suggests that a $5.00 valuation may be more reasonable.  How would this relate to the price you paid for the token?

Use of funds

How will the funds be used?  How much of the money raised will be allocated for:

    • Product development
    • Marketing expenses
    • Operational expenses
    • Strategic partnerships
    • Legal and compliance fees
    • Bonuses for founders and developers

Be sure that all of these metrics are clearly stated and justified in the white paper.  If they are not, then be sure and bring them up to the community managers in the group’s Telegram or Slack channels. Chances are if you have these concerns other investors do, too.

Red Flags

By now you should have an idea of red flags in a white paper.  In addition to some of the points already mentioned, you’ll want to identify poorly written white papers with grammar or spelling mistakes.  Consider that if the project can’t get these details right that they do sloppy work as a whole. And always check for plagiarism in the whitepaper; it indicates a high likelihood that the project is a scam.

Moreover, is the white paper thorough?  Does it answer all of your questions or does it leave too many unanswered?  And does it look more like a marketing pamphlet instead of a mostly technical and business document?

Beyond the White Paper

While the points highlighted here are a great place to start, eventually you will have to develop your own feel for the viability and potential of the project.  Yes, this means using your own experience and listening to your gut. What about the project resonates with you? What about the idea strikes your fancy? Do you really think the team can pull it off?  Zoom out, look at the big picture and make a decision based on your own instinct.

If you don’t have a great feel for this kind of thing, then start reading more white papers.  And then read comments from other investors and experts about the viability of those projects.  With enough exposure and practice, you can develop analytical skills here and make great investing decisions.

 

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel
]]> https://cointutor.org/how-to-read-analyze-a-crypto-coin-whitepaper/feed 0 How to Buy BitTorrent Coin (BTT) In the US https://cointutor.org/how-to-buy-bittorrent-btt-in-the-us https://cointutor.org/how-to-buy-bittorrent-btt-in-the-us#respond Sun, 18 Apr 2021 04:02:03 +0000 http://cointutor.org/?p=554 There has been some confusion over how to buy BTT (BitTorrent) in the United States – here is a simple guide.

You will need an account at KuCoin (Fast and easy to Create) or Voyager (Currently has a waiting list)

Here are the steps for KuCoin once your account is set up,  Voyager is just about the same:

  1. Open the app.
  2. Tap on TRADE at the bottom of the screen.
  3. At the top of the screen, you should see Spot, Margin, Fiat, and Trading Bot.
  4. Tap on FIAT.
  5. Select crypto you want to buy, USDT is probably the easiest.
  6. After you buy USDT, search in the ASSETS for SPOT BTT/USDT.
  7. Trade USDT for BTT and Bob’s your uncle!

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

Please Add coin wallet address in plugin settings panel
]]> https://cointutor.org/how-to-buy-bittorrent-btt-in-the-us/feed 0