How to get free WAX for staking using Hive

in LeoFinance3 months ago (edited)

How to get free WAX for staking using Hive.

Direct from the desk of Dane Williams.




Walkthrough for getting free WAX for staking using HIVE and the SWAP.WAX Hive-Engine token.

In order to use the Wax Blockchain, you need to stake WAX for the network resources CPU, NET and RAM.

Sure, you could head to your favourite exchange and buy a little bit of WAX in order to use the network.

But if you’re just playing around with WAX and don’t want to go to an exchange and buy some, I’ll show you how to get free WAX for staking using Hive.

The process is easy, so let’s dive right into the walkthrough right now.

1. Sign up for a Hive account

If you’re reading this on Hive, then you can skip this step.

But if you’ve come from Google and don’t yet have a Hive account, then you’re going to want to start right here on LeoFinance.

LeoFinance, the Web3 dApp that you’re reading this post on right now actually offers the best way to sign up for a Hive account - For FREE!

Simply click the get started button at the top right hand corner of this screen to create a Hive wallet with nothing more than your Twitter handle.

Signing up for a Hive account.

When you’re ready, simply claim your keys and you’ll be able to cash your crypto earnings from posting/curating into WAX.

2 Earn some free HIVE crypto

That’s right, I said I’d show you how to get FREE WAX for staking and that’s what Hive can offer you.

All that using Hive will cost you is your time.

Simply begin posting and engaging in any of Hive’s Web3 blogging or social media platforms and you can start making money, fast!

Pro tip: The trick of this stake weighted voting platform is to put yourself in front of those with stake as much as possible.

Head to the popular section on the leofinance.io homepage and start commenting.

Genuinely add to the conversation and those with stake WILL reward you.

They’re literally incentivised to do so.

Every 7 days after you post or comment, you will be paid HIVE crypto rewards into your wallet.

Cha ching!

3. Deposit your HIVE rewards into SWAP.HIVE on Hive-Engine

Once you’ve earned some free crypto in the form of HIVE rewards, it’s time to move them to Hive-Engine.

Hive-Engine is a DEX built on Hive’s layer-2 that allows you to swap your free crypto rewards into other tokens like WAX.

So you’ve earned free crypto in the form of HIVE.

Then you’re going to move it into SWAP.HIVE so you can trade it for WAX.

For this particular walkthrough, I’d recommend using the Tribaldex front-end to deposit your HIVE.

Simply click your wallet at the top and then choose HIVE from the drop down.

Your wallet in Tribaldex.

After confirming, that HIVE will now be sitting in your wallet as Hive-Engine exchange compatible SWAP.HIVE.

4. Trade SWAP.HIVE for SWAP.WAX

Still on Tribaldex, you’re now going to click the pools tab at the top of the page.

Choose SWAP.HIVE from the top drop down and SWAP.WAX from the bottom.

Trading HIVE for WAX in Tribaldex.

If you’re using a CPU:NET:RAM resource starting ratio of 10:5:5, then you will only need 3.44 SWAP.HIVE (at current prices).

An amount of HIVE that you can easily earn for free by being social on LeoFinance or any of the other front-ends built on the blockchain.

5. Withdraw SWAP.WAX to your WAX wallet

Finish by clicking the wallet icon to the left of your username at the top and then hitting withdraw.

If you don’t have one, you can get a free WAX wallet address, again using nothing more than your Twitter handle to sign up.

If you do, then simply enter your withdrawal amount and copy/paste your WAX wallet address into the bottom field.

Your free WAX for staking that you earned via Hive.

After the transaction is confirmed on the WAX network, your WAXP will now appear in your WAX wallet.

Done and done.

You have now earned free WAX for staking using Hive

There you go, getting free WAX for staking using Hive wasn’t too hard, was it?

This walkthrough highlights the immense power of the Hive blockchain.

If you have any questions on using Hive or Wax, then jump into the comments below and I’d be happy to try and help you out.

Best of probabilities to you.

PS. Are you always on the lookout for more free crypto?

Check out my guides on using Hive to get free BNB and get free MATIC.

Posted Using LeoFinance Beta

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The rewards earned on this comment will go directly to the people( @m0rt0nmattd, @successforall ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

!1UP for the information on how to get wax for free. But as things stands, I still prefer Hive over wax. 😊

Everyone in the comments is making out like it's a choice between one or the other.

It doesn't have to be ;)

Posted Using LeoFinance Beta

Well, I think it's personal preference talking. 😊
Though, yeah, it doesn't have to a choice between the two. Unfortunately, I have no choice but to choose for now as I have very limited resources. I would love to achieve my Hive goals first before expanding to other chains or investments.

I think it's a good way to get started if people are running into resource issues on WAX. It's possible to earn through Hive and move them over but I still prefer Hive over WAX.

Posted Using LeoFinance Beta

When you're just starting out, even if you understand the concept of paying fees to use a network, WAX's system of resources is confusing.

Hopefully this guide can help people just get the bare minimum WAX required to start using the network and then they can learn by actually doing.

Posted Using LeoFinance Beta

I believe they will let you create a Custom wax wallet there for free

https://www.wombat.app/the-app

then you can do the above steps and get free wax a custom name and a headstart on your blogging

Posted Using LeoFinance Beta

Yep!

When it comes to getting a custom wax wallet name, Wombat is your best bet.

But I'd still say the Cloud Wallet address that I linked to in the post is the easiest and best for a complete n00b.

Posted Using LeoFinance Beta

indeed it is , my only caveat with wCw is the custodial wallet and owning your own keys, great for a hot wallet

Posted Using LeoFinance Beta

I love HIVE more lolz jk

If I had to choose between Wax and Hive, I'd also choose HIVE.

But the thing is, nobody has to choose.

We can all use both networks interchangeably! :)

Posted Using LeoFinance Beta

This is very interesting as I could have used this info way back when. But it's good to have it now. I'll have to check out your other guides as well as I prefer to use hive to get anything I need instead of having all these different wallets & I definitely don't like all those gas fees they want.

!CTP

Posted Using LeoFinance Beta

You're certainly not alone!

Hopefully this guide to getting free WAX for staking can help people in a similar situation to you in the future.

As for the other guides, they all follow the same process so you're already well on your way with your HIVE earnings.

Whenever you need a little bit of crypto for gas fees or the like, Hive-Engine's SWAP tokens are very handy.

Just make sure you're always using the more liquid Diesel Pool to swap, and not using the regular ladder.

You'll always get a better price.

Thanks for stopping by :)

Posted Using LeoFinance Beta

Thanks for the info! Very interesting tid bits, as i know very little about Diesel Pools, but I'm learning.

!CTP

AWESOME and quite easy to follow. Sure appreciate the time and energy you put into your guides. One think though, the BNB and MATIC guides aren't able to open tho. THX!!!

Posted Using LeoFinance Beta

Thanks for stopping by and letting me know you're finding value in them.

The kind words are very much appreciated :)


Also, cheers for the heads up about those links!

I had just messed up the http section of the code when I copy/pasted.

Should be all fixed now!

Posted Using LeoFinance Beta

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