How to get into Tezos (XTZ) staking with Atomic Wallet (noobie friendly).

By DimitarM | Welcome to my life | 22 Dec 2019


So guys, I've been using the Atomic Wallet for quite some time - to withdraw my earnings from Publish0x.

Let me explain what is it all about. Atomic Wallet is actually an ERC-20 ETH wallet. It can hold any coins/tokens that are on the Ethereum network. It is really good because you can have it installed on your phone and your PC at the same time, and you always hold your own Private Keys. They have plenty of services to offer: Exchange, buy crypto with FIAT(credit card) and so on. I do not recommend those services at this time because of their high fees and high minimal amounts. Where the wallet actually shines is this -> you can always export your keys and transfer them to Metamask if you want. Even the support suggests that for some tasks you need to handle -> for example, when you need to convert your SAI to DAI and so on.

Anyway, what got me to this article is the fact that last few days I have been looking into Tezos(XTZ) currency and the options to stake it. At first I found out that you can do that on Binance for 5-7% yearly return if you keep your coins there. However, Binance is an Exchange and as any Exchange is vulnerable to hackers. Ask me, I know - back in 2013 I got burned when MTGox bankrupted. To this day I'm still getting letters from Japanese court as one of the MTGox' creditors - I'm owed the amount of 700$. Not that I ever expect to get those money.

My point is -> when you don't hold they keys -> it's not your coin. You have it "on paper" in your Binance account, but you can lose it all at once if something happens with the Exchange.

With the Atomic Wallet you actually hold the keys and it is pretty safe. When you press the stake button, you just need to pick "provider"(which you can switch at any time) and that's it' It stakes automatically any coins you might have. And you don't even have to keep the wallet open. Any coins you add to your address will be automatically staked.

There is full guide on Tezos Staking on Atomic Wallet's Academy section - here.

I will not bore with the details, everyone can check it for himself. It is pretty straight forward.

However I can give you some ideas how you can start easy and free(unless if you want to put some FIAT in it) of charge with Staking Tezos.

Few ways to Get Tezos (XTZ)-> 

a) Get into Ledger's Contest and Win Tezos.

b) Post more often on Publish0x and get more BAT/DAI -> withdraw them to a Wallet and exchange them for Tezos. You can do that either in Coinbase or in Atomic Wallet itself(there is high minimum amount here). As far as i know the exchange in Coinbase is free of charge. Not sure if it's in the best rates, but still on paper looks good to me.

c) Get some Litecoin from any of those pesky websites where you click to get some small amount of crypto every 15 minutes or so -> transfer it to Coinbase and exchange it to Tezos, send to Atomic Wallet.

d) Participate in XLM giveaways -> I have received over 2000 XLM in the past months from few different giveaways. Get the Stellar to Coinbase -> exchange it to XTZ and transfer it to Atomic Wallet.

e) Simply buy XTZ on an Exchange like Coinbase or any other with either Crypto or Credit card.

f) Earn ETH with Microwork app on Android and Iphone. At the current rate about 30 pictures you upload there are about 1 XTZ. Transfer directly to Coinbase. Exchange the Ethereum to XTZ, transfer to Atomic Wallet.

g) Use Brave and Presearch -> when you get payouts from them - Exchange to XTZ and send over to Atomic Wallet.

 

I'm curious to hear from you guys any other free/easy ways to get Crypto that you can easily exchange to Tezos to get into staking.

I really hope you can find any value in this article.

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DimitarM
DimitarM

I really enjoy Publish0x!


Welcome to my life
Welcome to my life

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