rPlanet Trading

Doing you first rPlanet (or any) trade for Wax backed NFTs


Ok, so you want to get into the trading action in rPlanet or want to do a Wax-backed trade. Here's a simple guide.

1. When it comes to rPlanet rigs/elements you'll hear things like 150 ae/hr. This means, that it produces 150 Aether per hour when staked in rPlanet. You'll navigate to rPlanet, connect your account and it this will show up in your unstaked section. 

2. You'll see something like "selling 150 ae/hr rig for 3:1" - this means the seller wants 3x the mining power in Wax. 150 x 3 = 450 Wax to do the deal. If they said "selling 150 ae/hr rig for 2.5" - this means they want 2.5x in Wax. 150 x 2.5 = 375 Wax. This image below is just saying WTS (wanting to sell) 2.7. So they are showing the staked elements below. If you wanted the Frost (300) this person is looking for a Wax-based NFT (will be covered next) for 300 x 2.7 = 810 Wax.

rPlanet element selling example

3. Mostly they are looking for "Wax backed NFTs". Here's my step by step FAST instructions on how to back an NFT with Wax.

4. Now that you know this, you'll be ready. Head over to the rPlanet discord. And on the left, navigate to a trading channel.

rPlanet discord training

5. Sit back and watch a little and if you are interested in a trade/buy, just IM/Instant Message them by clicking on the person and saying "I'm interested in the ITEM HERE." Like this:

rPlanet trading

6. Be prepared to back an NFT with the amount, in this case it would be 300 x 2.7 = 810 Wax (go here to learn how to back a Wax token, it's fast and easy)

7. If it's available, you'll next send a direct link to your Wax based NFT in the chat to this person. It might be something like this "Hey, here's that wax based NFT ready to trade: https://wax.atomichub.io/explorer/asset/1099535964896" (don't send my link, send your own!!!)

8. That person will then tell you when they've sent the trade.

9. Head over to Atomic and to the Trading button, then to your Active Received Trades. This LINK should take you right there. Inspect the trade (really, make sure since there are some people that fake images) and then approve it. You want to make sure to check out that the NFTs they are offering are legit. Look at the collection name and that it's checked. Make sure there are no warning that pop up about the NFT (not whitelisted, etc). 

Trading in Wax on AtomicHub

10. Go stake your NFT. Log into rPlanet/connect your wallet, then go to staking and to more info. Your new NFT should show up here and simply hit stake. Now it will show up in the staked section (as seen below). Also, this NFT will disappear from your Wax wallet so don't freak out. When you unstake it will be returned to you. Technically, when you stake something, you are handing it over and then earning for it. There are certainly risks associated with it, so you are on your own to learn more about it, however it seems like staking with rPlanet with rPlanet NFTs would be pretty safe since they'd just screw over their own community if they took them all.

rPlanet staked NFTs

11. WTF do I do with Aether? Well, you use it for all kinds of things (constructing elements, discovering, etc) and you can convert it back to Wax by using Alcor. https://wax.alcor.exchange/. Of all the stuff in this Wax planet, Alcor might be the easiest breath of fresh air. It's easy to connect your wallet and then to swap.  Click Swap, then make sure you have the right crypto in the sell and buy sections and put the number of Aether you want to swap. You'll see that the exchange rate does fluctuate usually between .0009 and .0012. This can make a big difference too. In this case, you can see that I will get 9.3 Wax for 10K Aether.

Alcor crypto swap Aether for Wax

Leave comments/questions and I'll be happy to update it. Happy trading!

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rFingerPlanet
rFingerPlanet

Tech startups, NFT investor+hobbiest curious about crypto but cynical as well.


rPlanet Trading easy instructions
rPlanet Trading easy instructions

Trading with Wax back NFTs are very popular because it allows the sellers and buyers to save up to 10% on market fees (when they sell). So, you typically get things at 5-10% discounts of what in the marketplace. This will walk you through the quick processes.

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