If you've been with crypto for a while you know one way to earn some cryptos is through mining. This is taking your CPU, GPU or Asic hardware and having it make calculations to secure blocks which include transactions on the chain.
LeoFinance has a system kind of like this that prints LEO tokens. However instead of using your own hardware you instead buy the miners off of the Hive-Engine market. https://leodex.io/
The Tokens for these miners are
LEOM
LEOMM
LEOMM process LEO at 4x the rate as a LEOM
Miners should be considered a LONG TERM investment. If you believe in the project these will continue to produce LEO tokens for you over time. If you believe the price of miners and the LEO token itself will go up these could be good options to buy.
Think of them as money printers
Instead of printing $ they print LEO tokens. These can either be sold on the market or staked which increases your resources on the network and gives you voting power for curation. A way to earn even more LEO tokens for being active and engaging on https://LeoFinance.io
- Visit https://leodex.io/ and login with your HIVE account
- Click Tokens in the top menu
- In the search bar type in leo
- Click on the double arrow to the right of LEOM or LEOMM
(remember that LEOMM mines at 4x the power of LEOM) - This will take you to the trading screen where you can trade your HIVE tokens into LEOM or LEOMM
- Click Wallet in the top menu
- This is your full list of all of your tokens on the HIVE blockchain
- Locate your newly bought LEOM or LEOMM and click on the lock symbol
- In the screenshot this shows unlock as all of mine are currently staked but yours will be a closed lock
4 ) On the popup it will display your balance and ask you the amount type in the full amount as your balance and click on the big Stake button below.
That's it!
If your miners end up mining LEO they will show up within your account. Not all miners will produce tokens each day and the more you have the more you could be printing. As of writing this tokens earned take one day to show up when the system calculates and displays tokens within the Hive Engine site.
Posted Using LeoFinance Beta
Nice guide :)
I prefer doing it on https://leodex.io 😉
Posted Using LeoFinance Beta
Can you buy the LEOM and LEOMM from Leodex.io ? I didn't think you could.
LeoDex.io is a UI for Hive-Engine ( a much better one IMO). You can trade any token on hive engine through it by clicking on the token drop down. It defaults to LEO, just click on the box and search/filter for the token you want
Posted Using LeoFinance Beta
Oh sweet didn't know that! I thought it was it's own thing.
Let me pull some new screenshots here within the hour and I'll edit the post to reference https://leodex.io/
For sure :)
Posted Using LeoFinance Beta
Great post,
People have no idea if miners tokens are profitable are not. They do no not think to convert the HIVE price on the exchange into LEO. This is the easiest way to know if miners to priced high are low.
eg, 1 MINER produces an APR of 40-50% in terms of LEO if bought for 3 LEO. 3 LEO is my buying price for miners, it will take 2-2.5 years to get back investment. So, if the miner token is for sale on the exchange for 15 HIVE and LEO is 3 HIVE, then the miner is overpriced as it will cost the same as 5 LEO.
Anyways, that's how I work out of it a good are bad buy at the time. Remove HIVE and price you buy in LEO, makes way easier to work out ROI as rewards are LEO and sort of consistent over long periods of time.
My 2 cents
Posted Using LeoFinance Beta
Good stuff, I also came up with about 2 or 2.5 years. But also if the token becomes more valuable you can calculate that in. Another thing that speeds it up to faster than 2 or 2.5 years is that LEO that was just mined if you stake it and curate you now earning on top of that.
Wow, I need to try this, but first I will need to gather some Leo token. Thanks for sharing.
Posted Using LeoFinance Beta
Be consistent that in a few months it will have good results.
Posted Using LeoFinance Beta
Thanks a lot for this explanation.
I've been thinking about what LEOM and LEOMM have been several times. Now I've learned what they are for and how they should be used.
Thanks you so much.
Posted Using LeoFinance Beta
LeoFinance provides us with several forms of earnings. Just look at the best alternative for our strategy.
Posted Using LeoFinance Beta
I am thinking of buying them . Right now it might seem pricey but when LEO reaches 5$ ( I believe it will ) even if I get LEO from Miners once in 10 days I would be happy .
Also you could have mentioned that 30 miners is randomly picked per hour to distribute the LEO .
I currently hold only STEMM . Will be nice to add LEOM to it.
!WINE
Posted Using LeoFinance Beta
Cheers, @amr008 You Successfully Shared 0.100 WINE With @bitcoinflood.
You Earned 0.100 WINE As Curation Reward.
You Utilized 1/3 Successful Calls.
WINE Current Market Price : 0.600 HIVE
Good piece of information thank you!
This is an excellent article. I didn't even know that this existed!
Posted Using LeoFinance Beta
Glad I could help :)
Awesome post.
Posted Using LeoFinance Beta
Thanks! Looking to help people understand more about the platform and invest
Thanks for the great article.
I purchased 1 Leo Miner to try it all out as I was still confused but your post today has very much helped and because of that I will likely Invest in more miners soon.
thanks again for the fantastic article.
Posted Using LeoFinance Beta
Awesome! Make sure you staked it if you haven't already. Glad I could help out
I hope that new users can understand this LEO ecosystem more and your post is a great alternative to that. Congratulations for your work.
Posted Using LeoFinance Beta
Thanks! Looking to educate people so they stick around longer and invest as well as helping onboard new investors
Thanks for the explanation. I actually enquired about the miners on the discord room some days ago.
Posted Using LeoFinance Beta
Hope this has answered your question if not feel to ask again in Discord there's a lot of great people on there.
Absolutely. This is exactly what I wanted to know
Posted Using LeoFinance Beta
Well written. Have a q tho, when renting a miner do you actually rent a hardware or a software? If doing so, does it increase decentralization?
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
This all makes sense. But what doesn't make sense to me is why LEOMM is 10x as expensive on the Hive Engine as LEOM. It just seems very strange!
Posted Using LeoFinance Beta
I bought mine in the beginning and they have long since paid for themselves... especially in Hive and dollar terms.
As with anything that is working out, I wish I had bought more
Posted Using LeoFinance Beta