Moonbeam is a new cryptocurrency aimed at solving the problems of scalability and blockchain size. It’s also designed to be sustainable for decades, so it will always have an accessible mining pool. This guide covers all you need to know about how to stake your tokens, including how easy it is to mine Moonbeam.
Stake Your Tokens
Once you have your moonbeam tokens in your wallet, select “Stake” from the menu. This will open up a new window that displays all of the nodes currently available to stake with. Select one and hit “Stake.” You will be asked to confirm the transaction, so enter your password and click “Yes.” By staking you can get up to 50% annual rewards and crowd loan crowdloan rewards offered by Moonbeam, but it depends on the node you select and how many Moonbeam tokens you have in your wallet. If you want to unstake your moonbeam tokens, select “Unstake” from the menu. This will open up a new window that displays all of your staking nodes and allow you to pick one or more to unstack. Enter a number in the “Amount” field and click “Stake.”
Download the Moonbeam Wallet
The Moonbeam wallet can be downloaded from the Moonbeam website. The download is available in both Windows and Mac versions. Once the download is complete, open the folder and double-click on the “Moonbeam” application to launch it. A dialogue box will appear asking you to choose a language. Select your preferred language and click “OK.” Another dialogue box will appear. Make sure that the wallet has been placed in a safe location on your computer and then click “Next”.
You may be presented with an option to select between full nodes (which are used by people wishing for additional privacy) or supernodes (used by people who don’t mind a little extra centralization). The wallet will now begin to sync with the Moonbeam blockchain. This may take some time, so make sure you have set it up for offline use and don’t close it out of your wallet until after this process is complete. Otherwise, any transactions that are carried out during the period in which you do not have the wallet open will not be recorded and you’ll lose them. Once your wallet has finished syncing, click on “Receive” along the top menu bar of the Moonbeam application. This should present you with a dialogue box that contains an address for each currency supported by Moonbeam (MOON and XBE).
Buy Some Moonbeam Tokens
Once you have registered on the Moonbeam website and created an account, you will need to buy some Moonbeam tokens to participate in the network. You can do this by visiting the “Exchange” page on the website and selecting a currency to use. Currently, there are six currencies supported: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dash (DASH), Tether USDT, and Ripple XRP. You can enter how much you want to spend in any of these currencies or use the “max” button on the right side to load your full balance for that currency.
If you are investing in Moonbeam, it is recommended that you purchase a significant number of tokens to ensure that you can participate in the network and earn rewards. Once you have selected the number of tokens you want to buy, click on the “Buy” button, and your order will be placed. You will then need to wait for the transaction to be confirmed on the blockchain. This can take a few minutes depending on the network congestion and your internet speed.
Store Your Tokens In The Wallet
After you have the wallet, store your tokens there to start staking. You will need to keep your moonbeam wallet open and synced with the network for staking. If you use Windows, it may be a good idea to run the wallet as an administrator. If you’re using Mac, you’ll need to make sure that your Mac is authorized for the wallet and begin staking.
There are several options available when it comes to wallets, but there’s no dedicated Moonbeam desktop wallet yet. The Bitcoin and Ethereum Light client (lite-client) option will allow holding tokens in offline storage like on paper or USB drive. You can also find online Moonbeam wallets that are user-friendly and allow you to stake your tokens without having to keep the wallet open.
How To Earn Moonbeam
There are a few different ways that you can earn Moonbeam. The first way is by holding Moonbeam tokens in your wallet. For every 1000 Moonbeam tokens that you hold, you will receive one moonbeam token per day. This means that if you hold 10000 Moonbeam tokens, you will receive ten moonbeams per day. The second way to earn Moonbeam is by participating in the Moonbeam network. There are a few different ways that you can do this. You can either rent out space on your computer to run a Moonbeam node, or you can participate in one of the many Moonbeam apps that are currently being developed. The third way to earn Moonbeam is by mining. Moonbeam uses the Dagger-Hashimoto algorithm, so you will need a GPU miner to start mining moonbeam. You can find a list of moonbeam miners online.
How To Exchange Your Tokens
Now that you have staked your tokens, it’s time to exchange them! Moonbeam has a variety of exchanges available so you can choose the one that is best for you. To get started, open the Moonbeam Wallet and click on the “Exchange” tab. You will then see a list of all the exchanges available. Click on an exchange to see a list of all the trading pairs, which you can choose from for your transaction. As soon as you have chosen a token pair and clicked “Exchange”, Moonbeam will load the given page in its own browser window/tab. The transfer amount field will show the number of tokens you are sending. The field below it, “Receive Amount”, will automatically populate with the equivalent value in the receiving token’s currency. All you have to do now is enter your transaction password and click on the “Exchange” button. Congratulations – you have successfully exchanged your tokens.
So there you have it! An easy guide to Moonbeam and how to stake your tokens. Make sure you follow the steps correctly to ensure a smooth and successful staking experience. We hope you found this post helpful.