Dash Stake Setup

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Do you want to earn interest for holding your cryptocurrency?

With BiblePay you can! By holding DASH and BBP coins

Example: Holding $1,000 of DASH and $1,000 of BBP, earns $40 of BBP a month! [Date: 9/20/2020]

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

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"



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

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