Intro
What’s up everyone, my name is Ryan and welcome to my channel “Crypto Earnings 101 where I help you make extra crypto online. So today I am going to go over a brand new app that is still in the development stage, but it looks very promising. I have been testing this app for a couple of weeks now and I wanted to cover everything I know so far and put this into a post for you. So keep watching to find out how to earn with this new app. If you are interested in earning crypto online by playing games, running apps, watching videos and investing into DeFi platforms then please follow me here and/or subscribe to my YouTube Channel (Link Below). This really means a lot to me and thank you so much for the support.
My YouTube Channel: Link
Dataverse
If you haven’t heard of Wallace Wallet before, this is a decentralised wallet developed by the team called Dataverse. Dataverse wants to put you in control of your data and in doing so you will get paid in a crypto currency called GEOdb or just GEO for short. They are bringing out many different ways to earn, this includes playing games, scanning receipts, paying you for locations and they are even creating a decentralised system called “ODIN”.
What is Wallace Wallet
So what is Wallace Wallet? This is a multi-chain Decentralised Wallet that not only stores your crypto safely, it also pays you in GEO tokens just for moving around and sharing the data in your surrounding location. You might be thinking, how can you get paid just for moving and sharing your location? Companies use this data that we collect and then sell it on, this is how we are paid for doing something we are doing anyway. There are similar apps that pay you for the exact same thing, one of them is called “Coin App”, I will leave the link below if you wish to watch my video explaining all about Coin App.
How to Set Up a Wallet
This app is available worldwide and can be downloaded for Android and iOS so just head over to the play store or the app store and search for “Wallace Wallet”, download the app and when you first load it up, you will be asked to type in an invite code. This is the only way to get access to the app when you first sign up. I have put invite codes below, if the 1st one doesn’t work, try the other 2. Thanks.
Invite Code 1: albaclan83_f3729
Invite Code 2: weeflea83_b3e58
Invite Code 3: cryptoscot_5b64f
After you have used the code and signed into the app, follow the on screen instructions. You will be asked to write down the 12 word phrase, please keep this safe at all times. Never store this on a digital device and always keep backups. This 12 word phrase is important, which I will explain later on in this video.
App Restrictions
When you first set the app up you might face app restrictions, I am not on iOS but I believe the setting should look something like this.
For Android users, if you hold down on the app, click on “App Info” which should take you to a screen similar to this, you want to make sure Location is allowed at all times but the most important one that causes people issues is the battery saver option. If you click on “Battery Saver” and select “No Restrictions”, this now means you are fully set up to run the app and it should run on your phone 24/7 in the background. To confirm it is running you should also see a notification for Wallace Wallet appear at the top of the screen.
Wallace Wallet Dashboard
Now that you are logged into the app, you will see this screen (see pic below) this is your wallet dashboard.
I already mentioned Wallace Wallet being a multi-chain wallet, it supports 3 different chains. Ethereum, Binance Smart Chain and Polygon. Personally I prefer using Polygon network as the fees are minimal and in most cases less than $0.01 to make a single transaction. As you can see, you are able to deposit ETH, BNB, MATIC and GEOdb. The app sets these coins as default but you can change these or add more by clicking on this icon in the top right and selecting “Tokens”. This brings up a list of hundreds of different coins you can add to your wallet, this is a great feature if you have different coins and want to store them safely instead of storing them on exchanges. Remember this important phrase, “Not your Keys, Not your Crypto”.
How to Deposit
I will now show you an example how to deposit MATIC to your Wallace Wallet, make sure you are on this screen, select polygon and then click on “Receive”, select Polygon network and your account. You can now see the QR code is displayed and the deposit address which can then be copied by pressing this button. Sending Matic from Binance or Coinbase won’t take long to go through and you should see it in your Wallace Wallet within 5 minutes, when you are sending, please make sure you select the correct network. I have put the link for my Coinbase Tutorial below if you aren’t sure how to Send coins from there.
Rewards
As I mentioned earlier, you basically get paid to move and when your location is verified you will get rewarded in GEO tokens. When you are on the move, from my personal experience you tend to get paid every 5-10 minutes and the rewards are always varied, on Tier 4 you can earn between 4 and 300 GEOs. There are different variables that can cause this, such as how many people are using the app at that time, the location and what tier you are on.
Tiers
I just mentioned Tiers, this is probably the most important part of the app when it comes to the earning side of it. The rewards are based on a 4 tier system. Tiers 1-3 are capped and you can only earn a certain amount of GEO per location and per day. Tier 4 is not capped and the rewards for earning GEO is unlimited. To be able to move into the next tier for higher earnings, you need to hold a certain amount of GEO in your wallet. You don’t lose any of your holdings and you are able to withdraw this at any time you wish, this is just a way of getting more out of the app and getting better rewards for simply holding your GEO tokens.
Tier Holdings
I will now go over how much you need to hold for each tier.
TIER 1 🐌- 0 - 1k GEO Tokens
TIER 2 🚴♂️- 1k to 5k GEO Tokens
TIER 3 🚗- 5k to 20k GEO Tokens
TIER 4 🚀- 20k+ GEO Tokens
I have already talked about tiers 1-3 being capped on earnings, I can’t remember exactly what these numbers are but you get paid less than 1 GEO for each location sent back to the server. This is something to take into consideration when you are deciding which tier to jump into. I personally went straight into Tier 4 with a holding of 20k GEO, if you are in crypto long term and have funds to be able to buy 20k GEO then I highly recommend you do this. This isn’t financial advice and as always, do your own research when it comes to investing. If you do decide to invest 20K GEO, it is best to swap just a little bit more so you are just slightly over, you can see here that I have 20,000.317 GEOs in my wallet. This is just to make sure you are eligible for Tier 4, please take note if this is what you decide to do.
How to Buy GEO Tokens
You might be wondering how to buy GEO tokens to upgrade your tier, this is a very simple process. I have already gone over how to deposit into your Wallace Wallet, so for this example I will show you how to swap MATIC to GEO so you can upgrade your tier and start earning GEO tokens when you move. First, make sure you have MATIC in your account, also make sure that it is under the Polygon Network so reduce your fees. Click on this icon at the bottom, this will take you to the swap section, select polygon as your network, select your account and then press “Continue”.
Click on MATIC and then click on GEO and it will put MATIC at the top and GEO at the bottom. You can also click this button here to swap them around if needed. You can see your balance displayed, remember you want to leave a small amount of MATIC for fees. I would leave 0.1 MATIC to be on the safe side. If you click in the box and enter how much MATIC you want to swap, you will then see how many GEO tokens you will receive. Press exchange, confirm your transaction and then your GEO tokens will show in your main wallet.
Please remember that this is a brand new app so there will be bugs, sometimes the swap feature might not work so I will now show you another way to swap your tokens.
How to Import to Metamask
Since you are in control of your own keys, you are actually able to import your Wallace Wallet account onto other platforms such as Metamask or Trust Wallet. If you have already imported your account from Wallace Wallet, Polygon Network added and GEO tokens imported then please skip ahead by using the timestamps below.
To import your account to Metamask, visit metamask.io, install the app or extension and instead of creating a new wallet, select import wallet. Type in the 12 word recovery phrase you were first given when you signed up to Wallace Wallet, create a password, tick the box and then click on import. The next step is to add Polygon Network to your Metamask.
How to Add Polygon to Metamask
Now that you have imported your account, you will only see your ETH account so you need to go ahead and add Polygon Network to your Metamask Wallet. To do this click on this button here (see pic).
This drops down a menu, select settings and then click on “Networks” and then “Add Network”. You can see that you need to put in details for each box. I have put these details below so you can easily copy and paste them.
Polygon Network Details (Copy & Paste)
Network name: Polygon
New RPC URL: https://rpc-mainnet.matic.quiknode.pro
Chain ID: 137
Currency symbol: MATIC Block explorer URL(Optional): https://polygonscan.com
After you have added all the correct info into the boxes, click on save and your Polygon account from Wallace Wallet will now be imported onto your Metamask Wallet. This is a safe way to keep control of your crypto and for any reason if the app isn’t working or goes down you still have access to your funds in Wallace Wallet. So for 5 minutes of your time to set this up, I highly recommend doing this.
How To Import GEO Tokens
Now that you have Polygon Network added to your Metamask Wallet, there is just 1 final step before you can swap. You need to import GEO to your Metamask, only MATIC will show up at first as this is the native coin for Polygon Network. So to do this, go back to your Metamask Wallet, make sure you are on your Polygon Network, click on “Assets”, scroll all the way down to the bottom and then click on “Import Tokens” and you will land on this screen. All you need to do is paste the contract address into this box and click on save. I have put the contract address below so it is easy for you to just copy and paste this. Once you have done this you will now see GEO appear in your Metamask Wallet. I will now go over the best way to swap your MATIC to GEO tokens.
GEO Contract Address: 0xAe07B360cF41C8971F6c544620A6ed428Ff3a661
How to Swap Matic to GEO on Metamask
I am sorry it has taken this long to get to this stage, but all of these steps are important, especially if you are not familiar with the correct setup or you are new to crypto. Now that you have got to this point, I will now show you how to swap your MATIC to GEO.
Head over to a site called “quickswap.exchange”. To connect your Metamask Wallet, click connect in the top right, when the notification pops up sign in, this connects your Metamask to the site. At the top of the page, click on “Swap” which brings you to this section (see pic).
Click on “Select a Token” and if you type “GEO” into the box here, you should see it appear here if you managed to add GEO to your Metamask correctly. If it doesn’t appear, simply copy and paste the contract address for GEO into this box. When you see GEO appear, click on this and then type into this box the amount of MATIC you want to swap to GEO. You will then see the amount of GEO you will receive, click on swap, confirm this and then a notification from Metamask will appear. All you need to do is to confirm this and then within a few seconds you should see GEO appear in your Wallet. The fee is no more than 0.02 MATIC which is around $0.02 at the time of recording this video, so this is why I recommend using Polygon Network compared to ETH or BSC.
If you want to Swap GEO to MATIC, just do the exact same process but press this button here (see pic) to swap MATIC and GEO around.
Quickswap is my preferred option for swapping GEO to MATIC as I believe you get a better rate than you do on Wallace Wallet and this way works 100% of the time.
How to Claim GEO on Wallace Wallet
I will now show you how to claim your GEO tokens. If you head back to your Wallace Wallet app and click on this icon at the bottom (see pic), it takes you to the “Rewards” section.
You can see here the total amount earned, where you are ranked globally and if you scroll down, you can see the most recent GEOs you have earned for sharing your locations. Tier 1-3 won’t earn anything near these numbers, so if you are in any of these tiers, don’t expect big earnings. It is only Tier 4 that earns full GEOs.
To claim your GEO tokens, click the “Claim” button, wait a few seconds and then you will see this screen (see pic).
Keep it as standard as the fee is only 0.007 MATIC which is less than $0.01, click on claim and confirm this within 5 seconds. After this has been processed you will see your GEOs appear in your wallet where you can either hold them or swap them through the Wallace Wallet app or through Quickswap with your Metamask like I showed you earlier on in the post.
Summary
I am not quite sure yet how referrals work on the app but I will update you when I find this out. Apart from that, I think I have covered everything in this post to help you understand and get set up on Wallace Wallet, if you have any questions then please comment below and I will reply back to you. I have used this app for 2 weeks and earned close to $20, I don’t move much so this is definitely ideal for someone who drives for a living. My personal opinion on Wallace Wallet is, I think this is a very good opportunity to earn extra crypto just for moving and getting paid for something you do on a daily basis, the app runs in the background, you are in full control of your keys and they have a Telegram support group which I will put in the description below. I try to publish a post every Friday on ways to make extra crypto online, so please follow my channel so you don’t miss out on any future post. I will also put the Full video explaining about Wallace Wallet below so make sure to check that out so you have a better understanding how it works. As always, thanks for reading and I will see you in the next one.
YouTube Video: Wallace Wallet Tutorial
