Difference between revisions of "Dash Stake Setup"

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Example:   
 
Example:   
−
Holding $1,000 of DASH and $1,000 of BBP,
+
Create a dash stake with $1,000 of DASH and $1,000 of BBP,
−
earns $40 of BBP a month! [Date: 9/20/2020]
+
and earn $40 of BBP a month! [Date: 9/20/2020]
  
−
Stakes last 6 months, and interest is paid out each month <br/>
+
Stakes last 6 months, and interest is paid out in BBP each month <br/>
 
If any of the coins are moved, the stake ends <br/>
 
If any of the coins are moved, the stake ends <br/>
 +
 +
NOTE: Because there is a maximum of 10 million BBP that can be used per stake, <br/>
 +
we recommend making stakes of less than $1,000 Dash and $1000 BBP, <br/>
 +
if you find yourself with too many coins, create new receiving addresses  <br/>
 +
and send the coins to yourself in smaller amounts
  
 
'''Original Guide:''' <br/>
 
'''Original Guide:''' <br/>
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=== 2. Open & Encrypt Wallet ===
 
=== 2. Open & Encrypt Wallet ===
 
Open Wallet >>> Click Settings >>> Encrypt Wallet <br/>
 
Open Wallet >>> Click Settings >>> Encrypt Wallet <br/>
 +
 
NOTE: DO NOT FORGET YOUR PASSWORD,  <br/>
 
NOTE: DO NOT FORGET YOUR PASSWORD,  <br/>
 
IF YOU LOSE IT, YOU WILL LOSE ACCESS TO YOUR COINS, COPY IT <br/>
 
IF YOU LOSE IT, YOU WILL LOSE ACCESS TO YOUR COINS, COPY IT <br/>
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NOTE: Save DASH_UTXO and DASH_SIG for later step <br/>
 
NOTE: Save DASH_UTXO and DASH_SIG for later step <br/>
−
NOTE: Have to unlock wallet to run signmessage command, remember to lock it again afterwards!
+
NOTE: Have to unlock wallet to run signmessage command, remember to lock it again afterwards
  
  
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=== 2. Open & Encrypt Wallet ===
 
=== 2. Open & Encrypt Wallet ===
 
Open Wallet >>> Click Settings >>> Encrypt Wallet <br/>
 
Open Wallet >>> Click Settings >>> Encrypt Wallet <br/>
 +
 
NOTE: DO NOT FORGET YOUR PASSWORD,  <br/>
 
NOTE: DO NOT FORGET YOUR PASSWORD,  <br/>
 
IF YOU LOSE IT, YOU WILL LOSE ACCESS TO YOUR COINS, COPY IT <br/>
 
IF YOU LOSE IT, YOU WILL LOSE ACCESS TO YOUR COINS, COPY IT <br/>
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*BBP_UTXO = Wallet >>> Click "Send" tab >>> "Inputs..." >>> Right click amount just sent >>> "Copy UTXO"  
 
*BBP_UTXO = Wallet >>> Click "Send" tab >>> "Inputs..." >>> Right click amount just sent >>> "Copy UTXO"  
  
 +
NOTE: There is a limit of 10,000,000 BBP per stake, break your BBP coins up into equal or smaller amounts
  
  
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== DASH STAKE ==
 
== DASH STAKE ==
  
−
     dashstakequote
+
     dashstakequote [optional 1=my stakes, 2=all] [optional 1=all, 2=non-expired only (default)]
 +
   
 
     dashstake BBP_UTXO DASH_UTXO DASH_SIG 1
 
     dashstake BBP_UTXO DASH_UTXO DASH_SIG 1
 
     dashstake BBP_UTXO DASH_UTXO DASH_SIG I_AGREE
 
     dashstake BBP_UTXO DASH_UTXO DASH_SIG I_AGREE
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- Stakes only last 6 months, if the coins move, the stake ends
 
- Stakes only last 6 months, if the coins move, the stake ends
  
−
- Because there is a maximum of 10 million BBP that can be used per stake, we recommend making stakes of less than $1,000 Dash and $1000 BBP, if you find yourself with too many coins, create new receiving addresses and send the coins to yourself in smaller amounts  
+
- Because there is a maximum of 10 million BBP that can be used per stake, <br/>
 +
we recommend making stakes of less than $1,000 Dash and $1000 BBP, <br/>
 +
if you find yourself with too many coins, <br/>
 +
create new receiving addresses and send the coins to yourself in smaller amounts <br/>
  
  

Latest revision as of 00:33, 29 September 2020

Do you want to earn interest for holding your cryptocurrency?

With BiblePay you can! By holding DASH and BBP coins

Example: Create a dash stake with $1,000 of DASH and $1,000 of BBP, and earn $40 of BBP a month! [Date: 9/20/2020]

Stakes last 6 months, and interest is paid out in BBP each month
If any of the coins are moved, the stake ends

NOTE: Because there is a maximum of 10 million BBP that can be used per stake,
we recommend making stakes of less than $1,000 Dash and $1000 BBP,
if you find yourself with too many coins, create new receiving addresses
and send the coins to yourself in smaller amounts

Original Guide:
https://wiki.biblepay.org/Dash_Stake



DASH

1. Download Wallet

https://www.dash.org/downloads/


2. Open & Encrypt Wallet

Open Wallet >>> Click Settings >>> Encrypt Wallet

NOTE: DO NOT FORGET YOUR PASSWORD,
IF YOU LOSE IT, YOU WILL LOSE ACCESS TO YOUR COINS, COPY IT


3. Buy Dash from Exchange

https://www.dash.org/where-to-buy/
https://main.southxchange.com/Market/Book/DASH/BTC


4. Send Dash from Exchange to your Wallet

Dash Wallet >>> File >>> Receiving Addresses >>> New >>> OK >>> Right Click >>> "Copy Address"


5. Get UTXO and Signature

Go to "Transactions" tab >>> Right click transaction at top of list (most recent transaction) >>> Click "Copy transaction ID" (DASH_TXID)

Click "Tools" menu >>> Debug Console >>> Enter command below with numbers 0 through 10 for VOUT until you find non-null output (and check that DASH sent equals value field) 

   gettxout DASH_TXID VOUT
  • DASH_UTXO = DASH_TXID-VOUT
  • DASH_SIG = signmessage DASH_ADDRESS DASH_UTXO

NOTE: Save DASH_UTXO and DASH_SIG for later step
NOTE: Have to unlock wallet to run signmessage command, remember to lock it again afterwards



BIBLEPAY (BBP)

1. Download Wallet

https://www.biblepay.org/wallet/


2. Open & Encrypt Wallet

Open Wallet >>> Click Settings >>> Encrypt Wallet

NOTE: DO NOT FORGET YOUR PASSWORD,
IF YOU LOSE IT, YOU WILL LOSE ACCESS TO YOUR COINS, COPY IT


3. Buy BiblePay (BBP) from Exchange

https://main.southxchange.com/Market/Book/BBP/BTC


4. Send BBP from Exchange to your Wallet

BiblePay Wallet >>> Click File >>> Receiving Addresses >>> New >>> OK >>> Right click it "Copy Address"


5. Get UTXO

Click Settings >>> Options >>> Wallet tab >>> Check Enable Coin Control Features >>> OK

  • BBP_UTXO = Wallet >>> Click "Send" tab >>> "Inputs..." >>> Right click amount just sent >>> "Copy UTXO"

NOTE: There is a limit of 10,000,000 BBP per stake, break your BBP coins up into equal or smaller amounts



DASH STAKE

   dashstakequote [optional 1=my stakes, 2=all] [optional 1=all, 2=non-expired only (default)]
   
   dashstake BBP_UTXO DASH_UTXO DASH_SIG 1
   dashstake BBP_UTXO DASH_UTXO DASH_SIG I_AGREE

NOTE: DWU is Dynamic Whale Unit, it is similar to APR, Annual Percentage Rate
NOTE: Have to unlock wallet to run dashstake command, remember to lock it again afterwards!

- Stakes only last 6 months, if the coins move, the stake ends

- Because there is a maximum of 10 million BBP that can be used per stake,
we recommend making stakes of less than $1,000 Dash and $1000 BBP,
if you find yourself with too many coins,
create new receiving addresses and send the coins to yourself in smaller amounts



References

https://wiki.biblepay.org/Dash_Stake
https://forum.biblepay.org/index.php?topic=595.0
https://forum.biblepay.org/index.php?topic=517.msg8564#msg8564


Todo

- explain/link to what is dash and what is biblepay
- add images/screenshots
- video tutorial

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