Difference between revisions of "Dash Stake Setup"
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Example: | 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 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/> | ||
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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/> | ||
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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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=== 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/> | ||
Revision as of 05:51, 26 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
Original Guide:
https://wiki.biblepay.org/Dash_Stake
Contents
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"
DASH STAKE
dashstakequote 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
