Make your crypto (eos) work for you with stakemine.io. Part 1.

If you could earn a passive income you would right?

The image above is my stake payout from sprtshub.io. This platform is where Sport meets Blockchain. But I am not really into sports, as in I don't really watch or play sports. I workout, surf when possible, rock climb when possible and BMX when possible. I don't know enough about sports to make a profile on this platform never mind bet on sports events. But with stakemine.io I don't have to know anything about sports to earn rewards from Sprtshub.io! Wait, what, I hear you say. Yes, you read that right. I can earn a passive income from sprtshub.io by staking my EOS via stakemine.io to them so they can run their platform (built on EOS network) and they pay me for the contract.

Sounds like a no brainer right? So this is not the most straight forward process and my time is limited today so I will break this out to a few different steps. First you have to get EOS, so how do you get EOS? One way is to purchase it with FIAT. You can do that by going to a FIAT gateway enabled DEX. Here you can lodge your FIAT (Dollars, Euro, etc) and transfer them to your eos wallet (EOS voter by greymass or scatter) OK I can see you have glazed over already. Stick with me, this could be a key for your financial independence. As we are working on whaleshares here I will show you how to turn your whalestake into EOS which in-turn can earn you a passive income. Plus your whalestake has been earned, why not make it work for you?

First thing you need to do is power-down some wls. You can do this in your wallet, see image below, select your balance and then hit power down.

After 7 days your powered down whalestake is available as liquid WLS. This can be transferred off chain to the bitshares DEX via Rudex. In the image below I have sent my weekly powerdown to the dex, all you need to change is your bitshares name so instead of moonunit-1 you enter your bitshares wallet and send.

Within a couple of minuites the Rudex.wls will be available for you to trade!! Exciting stuff, you are going to be a trader now, well not quite but this could be your first step!

I want to trade my rudex.wls to rudex.eos but this is not possible as the direct market is dead, instead I trade to BTS then I trade BTS to Rudex.eos. Once I have Rudex.eos I can transfer out to my wallet! Don't worry if all these names seem like crazy gibberish you will be throwing BTC, BTS, XMR, EOS etc around like a pro in no time. Currency or tokens with a prefix like Rudex.EOS are tokens that are held by a thrid-party exchange to facilitate the purchase / exchange to exchanges that don't have that facility. In our example we are buying Rudex.eos as there is no direct bitshares.eos, etc.

Anyway, back to my trade, I pick a price that I want to sell my Rudex.wls at. there is a lot of information in the screen above so I have broken down the parts we need to focus on.

1. Buy orders, this is where we see current open bids for the token / coin
2. Sell orders, this is where we see what people are willing to sell for.
3. This is my price, the price I am willing to sell my Rudex.wls for. I am picking the cheapest here as I want to get the trade done quickly
4. Quantitiy is how much of my Rudex.wls I am trading.
5. BTS total, this is the amount of BTS I will receive from my trade.

Now I wait for my trade to be complete.

This seems like a logical break point in the lesson too. Keep an eye out for part 2 when my trade goes through.

Vote for the MoonBase Witnesses

If you like what @moonunit and @deranged-witness are doing for Whaleshares, you can vote for their witnesses at https://wallet.whaleshares.io/~witnesses. All votes are greatly appreciated and help them to support the MoonBase community and Whaleshares as a whole.

_{Moonbase artwork by @maya525}