Hey everyone, another type of post from me today where I usually post about cycling or Splinterlands as the game itself, this is more crypto related but it's still about Splinterlands because it's what I do a lot.
Sadly, the crypto space isn't for Joe Average, it's far too complicated for normal people to get funds around and while it has become somewhat easier that a couple of years ago, with regulations in some regions it's still difficult to turn our regular real world FIAT money which are Euro's for me in to some types of crypto.
Since 2019 I'm buying Bitcoin or Ethereum every month, which is easy because these are the big coins but when you want something 'small' like the Splinterlands SPS coin, it can be a pain.
Yesterday I saw @bravetofu tweeting (are we still allowed to use tweet, X-ing?) about how there's not enough SPS for everyone, and he's not wrong but I didn't notice there was a change in the rental market.
Before when players needed SPS to earn in the game, their bids got filled almost instantly at the floor price of 0.001 DEC/SPS but now at the time of writing this post I just checked again, and there's a unfilled request list of 13 hours, and the requested amounts are pretty big too!
Personal SPS Project
In my country, cans and bottles have deposit money on them, it's not much so many people still just toss them away and leave them on the ground, polluting nature.
In my daily life I'm picking up those cans and bottles, money for me and a cleaner planet, that's what I call a win-win!
I'm not sure exactly when I started this project - collecting them and turn the money I made in to @splinterlands SPS coins but since that's part 7 in December it's somewhere around May of 2023, today is another day to buy SPS but because I have to pay fees to go from Euro's to Hive in a couple of steps I'm saving up the money until I have enough so that fee take less of my money in percentages.
The timing is great too, when I woke up this morning I saw the price dipped just below 7 tenths of a cent.
The crypto route we have to take is really depending of where in the world we live, when you have Binance or Coinbase for example it's easier to buy Hive and move it into your account, unfortunately Binance is banned in most of Europe and I never used Coinbase, but I found my own route and while I'm doing this I might as well document it to maybe help others facing the same problem.
The Hoops we have to jump through
So, I'm starting at my local crypto broker, and one of the largest in Europe, Bitvavo where I deposit FIAT from my bank account and buy BNB with it because it's fast and cheap to transfer, fee: 19 cents
I then have to send it to my Rabby wallet, fee: 39 cents.
A couple of minutes later, it has arrived in my wallet.
Tip: never spend everything on the main coin of the chain, in this case BNB is the coin I also have to pay the transaction fee in so I always keep a small amount in the wallet.
The I got to TribalDex and login to my Hive account wallet and click 'deposit' but crypto being crypto... something isn't working and the screen is stuck on 'loading' even after a refresh
So, Plan B is Hive Engine. I prefer using TribalDex over Hive Engine because in my experience it's faster and I've had funds stuck in transition a couple of times on Hive Engine but never on TribalDex, hoping this time everything goes smooth because I want to profit from the low SPS price!
Added benefit of choosing BNB as my coin to transfer across chains is there's no deposit fee to bring this in to my Hive account.
The fee to send it from my Rabby wallet to Hive is very low, just over 1 tenth of a cent.
Two minutes later, and the BNB arrived on my Hive wallet, a nice thing of being in Europe at the moment is the Euro is stronger than the US Dollar, so my €54 turned in to $62 even after fees!
There's no direct swap between BNB and SPS.. so I first have to sell it for Swap.Hive I always check in what way I will get more, just simply by selling to other users on the market or by using the swap service.
By selling, I will receive 448.7 Hive.
From my experience in most cases it's better to use the swap service, however this is a perfect example it's always good to keep checking, because by using the swap I will only receive 437.6
That's 10 Hive saved by just simply comparing my two options 😍
I had some Swap.Hive on my account selling smaller Hive tokens, so now I can use my 452 Hive to sell for SPS, same thing again, comparing Swap and Market...
In this case the difference is only 0.6 SPS so that's negligible, still every drop counts so I sold instead of swapped again.
That's a lot of SPS!
That's a lot more SPS than I had expected, I had more 'free' money from the streets in reserve plus the SPS price has come down a bit so that's awesome!
I have more than one Splinterlands accounts, my manual account I'm playing in Modern was 5k SPS short of receiving the full amount of 6 Fortune Draw entries for every 5 wins I have, so far I was renting the additional SPS but when SPS demand gets higher it will be more difficult to get my orders filled when I want it plus maybe the floor price will increase so as always: OWNING IS BETTER!
Sending 4447 to my Modern account and it quickly arrives.
No more need to rent on this account, I like the view of this amount on this account 😍
But that's not all, I had over 4000 SPS left in my Hive Engine wallet, that's going to my main botted account!
Wild Mode requires double the staked SPS from Modern, so this account needs a lot and this is not even enough and maybe small numbers compared to the whales, still many of us are dedicated daily players, grinding the trenches for years now and you see, dedication comes a long way!
You're not a player yet?
Seeing lot's of Splinterlands content but you're not a player yet, or maybe you have left years ago? (I can't blame you if you did)
When you haven't played the game in the last six months, you definitely should - let me know when you're interested and I'll help you get started!
Thank you for reading!!!
If you haven't made an account already, please consider using my referral link to sign up, I'll happily send the amount I get for your signup back to you in DEC or SPS to help you start.
Also, when you require any help to get you started,let me know, I'm here to advice and guide new players and maybe I can help you with card delegations too!
Have a great day!
This post has been shared on Reddit by @nozem01 through the HivePosh initiative.
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Excellent step-by-step explanation of how to buy SPS from Fiat! I learned a lot from reading it, especially understanding the challenges of transferring if you are in Europe. I have also been playing Splinterlands for a while, so I found the article quite useful.
Well done @nozem01 !
I really should figure out how to buy crypto with fiat in a way that isn't stupid expensive fee wise.