Module 5: HOW DO I...

How Do I buy Theta? How do I use UniSwap? How do I update the firmware on my Nano Ledger? If you wanted to know how to do something, it's found HERE.  

Estimated time to complete

1 hours 16 minutes

Difficulty Level

Begineer to Intermediate

HOW DO I BUY THETA? (Simple Swap Tutorial)

Q: Where can I buy Theta?

A: For people OUTSIDE of the US they can use BINANCE. 

For people living in the United States you can use SimpleSwap which we go over in detail in this video

Video Time Stamp: Entire Video

Q: When we are at SimpleSwap do we choose the FLOATING Rate or FIXED Rate?

A: We MUST choose the FLOATING Rate option. If you choose FIXED Rate, Theta WILL NOT be an option for you to purchase. 

Video Time Stamp: 1:47 - 2:20

Q: Before we can BUY Theta, what must we do FIRST if we're going to use SimpleSwap? 

A: We must FIRST set up our THETA wallet!

To set up your THETA Wallet go to ThetaToken.org

Video Time Stamp: 2:27 - 3:32

Q: What should we COPY and store until the swap is complete and Theta is on our wallet? 

A: The Exchange ID. We can enter that into the site and track our transaction.

Video Time Stamp: 6:18 - 6:55

HOW DO I STAKE THETA FOR PASSIVE INCOME?

Q: What are the Requirements to Stake Theta and earn T-Fuel? 

A: You only need to have 1,000 Theta tokens to meet the minimum amount to stake.  

Video Time Stamp: 0:15 - 0:25

Q: How much T-Fuel will I need to set up the Theta Staking Process & Where can I get some? 

A: You will need .000001 T-Fuel and you can get some for FREE by clicking on the T-Fuel tab and then RECEIVE and then FAUCET. After you do that you'll receive .0001 T-Fuel  

Video Time Stamp: 2:50 - 3:05

Q: After I'm done staking Theta in my wallet, what do I need to double check to verify? 

A: After you've staked the Theta in your Theta wallet, you want to double check that the process has worked by checking the guardian node application that you downloaded to your computer. 

NOTE: Leaving the Guardian Node ON and RUNNING in the background of your computer is what generates the passive income of T-Fuel. 

Video Time Stamp: 4:20 - 4:51

HOW DO I BUY CELSIUS? (UniSwap Tutorial)

Q: Where can you find where to buy ANY Crypto Asset?

A: CoinGecko.com and then scroll down to find your asset listing 

Video Time Stamp:

Q: Where can you download the BRAVE Browser and WHY is it recommended?

A: The Link below the video OR click the following link to make SURE it is the CORRECT download and not scammers/hackers 

LINK - https://brave.com/dig633

The reason I recommend the BRAVE Browser is because it uses less resources (which means it's faster and rarely crashes) AND you EARN the Basic Attention Token Cryptocurrency just for browsing the internet and seeing an occasional advertisement (try getting Facebook or YouTube to pay you like that!) 

Also, the BRAVE Browser allows you to have a crypto asset wallet attached to the browser so it's easy to interact with things like a DEX (Decentralized Exchange)

Video Time Stamp: Entire Video

Q: What are TWO ways to transfer Ethereum to your wallet?

A: You can SCAN the QR code OR copy and past the Ethereum PUBLIC address. 

Video Time Stamp: Entire Video

Q: Why do I recommend Celsius?

A: Celsius allows you to gain interest on your Crypto Assets just by leaving them on the netowrk. 

Video Time Stamp: Entire Video

Q: When we transfer the Celsius Token from our MetaMask Wallet to our Celsius Network wallet, what must we make SURE we check?

A: Make SURE the address that you are SENDING to is correct by double checking the first 4 and last 4 of the wallet address AND make SURE that you are sending the CELSIUS token to a CELSIUS wallet! If you send another type of crypto to a Celsius wallet it WILL BE LOST!

This also goes for ANY other crypto. You CANNOT send BITCOIN to an ETHEREUM address or it is GONE!

Video Time Stamp: Entire Video

Q: WHO are you going to TEACH this to (TTP)? 

A: REMEMBER: Like we talked about in the opening video at the top of the MEMBERS HOME page...DON'T FORGET to: 

TTP (Tell Two People) and then to 

LEARN One, DO One, TEACH One

Video Time Stamp: MEMBER HOME PAGE VIDEO

HOW DO I UPDATE THE FIRMWARE FOR MY NANO LEDGER WALLET?

Q: How will you know if the Nano Firmware NEEDS UPDATING?

A: When you log into Ledger Live it will say something along the line of, "Firmware is outdated. Please update to ..." 

Video Time Stamp: 00:28 - 00:37

Q: What happens if the update process has an error and your device becomes unreadable?

A: Not to worry. You have your 24 word passphrase that you wrote down and stored SAFELY somewhere. Now you can use that to RESTORE your nano device and try again (if needed). 

This is a RARE occurrence but you'll be glad when you have your recovery phrase (sometimes called a seed phrase or mnemonic phrase) on hand! 

Video Time Stamp: 2:00 - 2:17

Q: Once the firmware is updated, what will we have to do next?

A: We'll have to install the specific crypto apps that you hold. If you hold ethereum, you'll have to re-install the ethereum app. If you hold xrp, you'll have to re-install the xrp app. And so on and so on... 

Video Time Stamp: 2:28 - END

HOW DO I ORGANIZE & PREPARE MY CRYPTO ASSET TAXES?

Q: Do you HAVE TO PAY TAXES on your crypto? 

A: ONLY if it is a taxable event but YES! You should pay taxes IF it is a taxable event!

Video Time Stamp: Entire Video

Q: What is a TAXABLE EVENT in Cryptocurrency?

A:  *TAXABLE EVENTS INCLUDE: 

 - Trading Crypto for Fiat (cash)

 - Trading crypto for another type of crypto

 - Using crypto for GOODS & SERVICES

 - Earning crypto as INCOME

   

     *NON-TAXABLE EVENTS INCLUDE:

 -  Giving crypto as a gift

 - Transferring crypto 

 - Buying crypto

Video Time Stamp: 11:14 - 13:57 

Q: Is Wash Trading ILLEGAL in Cryptocurrency?

A: As of 2020 it is NOT because Crypto assets are treated as PROPERTY by the US government. Check with YOUR laws in YOUR country! 

Video Time Stamp: 10"09 - 11:13

HOW DO I STAKE CARDANO FOR PASSIVE INCOME?

Q: What is the difference between POW (proof-of-work) and POS (proof-of-stake)? 

A: POW is using powerful computers to solve a complex mathematical problem to then acquire a reward (such as gaining bitcoin).

POS is like a lottery system where the more tokens you hold of a cryptocurrency the greater the chance you'l have to get the opportunity to mint a block on the blockchain and thereby gain a reward (such as Cardano) 

Video Time Stamp: 01:05 - 01:48

Q: How often are Rewards paid out? 

A: Rewards are paid out every Epoch and every Epoch is 5 days.  

Video Time Stamp: 02:00 - 02:23

Q: When you stake your Cardano tokens (ADA) with a staking pool where do they go? 

A: Your Cardano tokens (ADA) stay IN YOUR WALLET and NEVER leave. This is the beauty of the Cardano Staking Protocol.   

Video Time Stamp: 02:24 - 02:49

Q: What happens if a staking pool is offline when they are chosen to mint a block on the ADA blockchain? 

A: If a Stake Pool Operator (SPO) has an issue and is NOT able to keep the node online due to errors then the reward (ADA) will be passed on to the next stake pool that is functioning. 

With DNEWS this will not happen as we have monitoring 24 hours a day, 7 days a week, 365 days a year with Grafana and Kubernetees on the Microsfot Azure network that is Commercial Grade and extremely reliable. 

Video Time Stamp: 03:30 - 03:55

Q: What are the fees to stake on a stake pool? 

A: There are 2 fees: 

1. The mandatory fee set by Cardano is 340 ADA. Some stake pools charge more but at DNEWS we charge the bare minimum. This fee is enforced to help cover the operating costs of the stake pool and is spread out over the ENTIRE pool so no ONE person pays for it. It is split among all the people who have staked their ADA in the pool (i.e. the delegates). 

2. The Margin Fee is set by every Stake Pool Operator and DNEWS is set at 5%. Some charge more and some charge less but with our pool's reliability, uptime and security we feel this is the ideal price range. So, if your staking rewards are 100 ADA, our 5% comes to only 5 ADA and you keep 95 ADA. Very simple

Video Time Stamp: 04:00 - 04:40

HOW DO I BUY VOYAGER (4 OPTIONS)

Q: Where can I buy Voyager?

A: 

1. The Voyager App (US only, not including New York. Sorry New Yorkers!)

2. Binance (labeled VQX)

3. Your Nano Ledger

4. SimpleSwap

Q: What does Metcalfe's Law measure?

A: Crypto Price Predictions

This law is how I calculate my own price predictions, then I proceed to DCA everyday until the prediction needs an update

Q: What is a Brokerage? 

A: It is a culmination of many choices in one platform.

In the context of cryptocurrencies, SimpleSwap is my go-to brokerage. They have 13+ exchanges and go through all of them to find you the best rate for the exchanges 

How Do I... Buy SENT Token + Metamask Tutorial

Q: How Do I set up the Metamask Wallet?

A: 

1. Download the Metamask wallet

2. Create a wallet (if you do not already have one)

3. Document your secret phrase

We highly recommend using a Stonebook to safely document your secret/seed phrases. A link to purchase your own Stonebook will be provided in the links below the video.

4. Transfer either ETH, AVAX, or Smart Chain into your Metamask Wallet

For $SENT token, you'll use the Zero Wallet which allows you to swap either Ethereum, Avalanche, or Smart Chain.

Otherwise, you may transfer any coin that allows transfers into your Metamask wallet if you are NOT planning on buying $SENT token


We will use ETH for the demonstration


Time Stamp: 2:18 - 6:28

Q: How Do I get ETH* into Metamask Wallet?

A:

1. From your exchange of choice, select ETH*

2. Select "Transfer"

3. We are going to withdraw ETH*

4. Cope the Metamask wallet address into your exchange of choice


*or any other chosen, transferable token


Time Stamp: 5:29 - 9:30

Q: How Do I buy $SENT token? 

A:

1. Connect your Metamask wallet in Zero Wallet

2. On the left side of Zero Wallet's page, select "Swap"

3. Select ETH*

4. Input the CONTRACT ADDRESS for $SENT - this will be linked below the video

Contract Address:

0x97abee33cd075c58bfdd174e0885e08e8f03556f

5. Select how much ETH* you'd like to send into the Zero Wallet to then swap the ETH* for $SENT

6. CONFIRM YOUR SWAP


*we used ETH for this example, AVAX and Smart Chain are also permitted to swap for $SENT


Time Stamp: 11:45 - 16:00

How Do I... Stake $AVAX?

Q: Why Stake Avalanche?

A:

-Your $AVAX stays in your wallet where you have TOTAL CONTROL over what you do with it.

-When you stake your $AVAX, you're helping secure the network (Proof-of-Stake)


Time Stamp: 1:00 - 2:15

Q: How Do I Set Up the $AVAX Wallet?

A:

-wallet.avax.network (link provided below the video)

- create your wallet and set up your private key. (DO NOT share this information with anyone!)

-$AVAX exists on the:

   + X-Chain - to be traded

   + P-Chain - to be staked

   + C-Chain for smart contracts and to pay for gas


So depending on how you intend to use Avalanche, the next step is to copy the respective chain's address into your exchange of choice (where your $AVAX lives) then transfer your desired amount!


Time Stamp: 3:00 - 7:45

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