How to Earn 17,160% APR in 2 Minutes and 55 Seconds

A Viperswap ONE-1ETH liquidity pool tutorial

A Viperswap ONE-1ETH liquidity pool tutorial

Photo by Museums Victoria on Unsplash

The VenomDAO team just announced that they’d added APRs to their Viperswap liquidity pool UI, and they’re quite generous. Of course, it’s all very new and dropping quickly*, but the fact remains — the rates are insane right now.

*In just a few hours since announcing and sharing the screenshot, it’s already reduced to less than 14,000%. 14,000% still feels pretty okay, though, right?

Source: VenomDAO on Twitter

The best part is that it literally takes less than 3 minutes (I used a stopwatch) to add funds to the liquidity pool, and there’s basically no minimum and near-$0 transaction fees. In this article, I’ll show you how to add liquidity with a tiny amount — just $30!

Source: stopwatch on my phone

I’ve purchased ONE from Binance US, and there’s where the journey begins. We only need to do four steps:

  1. Transfer ONE tokens to a MetaMask wallet on Harmony Mainnet
  2. Swap half of the ONE tokens to 1ETH
  3. Add liquidity
  4. Stake the resulting LP tokens

Ready? Let’s go!


1. Transfer to MetaMask wallet

The first thing you need to do is add Harmony Mainnet to your MetaMask wallet. It’s easy to do by adding a Custom RPC network to MetaMask and plugging in the correct values. Follow Harmony’s documentation for this here.

The easiest way to get your ONE address is to view your MetaMask account using Harmony Explorer, which can be accessed conveniently from the MetaMask UI.

Source: MetaMask

Clicking the View in Explorer link will whisk you away to Harmony Explorer, where you can click-to-copy your ONE wallet address.

Source: Harmony Explorer

Now we take that value and enter it into the exchange’s withdrawal screen, jump through the necessary confirmation hoops, and seconds later, our funds are visible in MetaMask.

Source: Binance US — withdraw

2. Swap for some 1ETH

To add liquidity to Venomswap’s pool, we need to provide equal amounts of two tokens. I want to contribute to the 1ETH pool, so I’ll convert half of my ONE tokens to 1ETH. Browse to https://viper.exchange and connect your wallet (make sure you have the Harmony Mainnet network selected).

$30 bought me 265 ONE tokens, so I’ll convert half of them to 1ETH on the Viperswap Swap page.

Source: Viperswap — Swap

3. Add liquidity

After just a few seconds, the swap should complete, and you’re ready to switch to the Pool tab to add liquidity. Select the pair you’d like to provide and specify the amount. I have less 1ETH available, so I click the MAX button next to 1ETH to contribute the maximum amount. (I had trace amounts of additional 1ETH in my wallet, so I’m adding a little more than was shown previously in the swap screenshot above.)

Source: Venomswap — Pool

4. Stake the LP token

Our final step is to stake the liquidity tokens we received for contributing to the ONE-1ETH pool. We do this by selecting the Staking tab and clicking the Deposit button.

Source: Viperswap — Staking

Conclusion

As soon as the staking transaction is complete, you can watch your rewards begin to accumulate in real-time. For example, my $30 has earned 1.5 VIPER (about $0.30) since I’ve been writing this article.

Source: Viperswap — Staking

It’s worth noting that rewards are boosted by the VenomDAO team for these first few weeks of launch, and 95% of rewards will be locked until the end of 2021, at which point they’ll gradually unlock over the course of 2022.

Still, Viperswap has been incredible, and I’m happy to sit on my VIPER tokens for these next 20 months. Since my last article, VenomDAO has hinted that a similar project will launch on Binance Smart Chain, and I’ve also seen VIPER appear as an untracked project on CoinMarketCap.

Harmony is so fast, and the transaction fees are so low. Viperswap really does a terrific job of showcasing both in addition to providing a tremendous earning opportunity during their first weeks of launch. I’m very excited to see what the future holds for both parties!


This story was originally published on This Crypto Life on March 20, 2021.

Harmony ONE Staking for Fun & Profit

12% rewards in just two steps

12% rewards in just two steps

Photo by Levi XU on Unsplash

I really like what Harmony has going on. First, they promise to solve Ethereum scalability by providing a sharding protocol with a trustless bridge. They also advertise 2-second finality and near-$0 transaction fees.

Those are great, but it seems like a hundred projects are solving these same problems. Harmony has the tools to be successful, that’s for sure. So, I love that the top priority on their 2021 roadmap is adoption. I was also excited to see partnerships with Reef and API3 announced.

On top of all that, the Harmony ONE token was still priced at just $0.03. I noticed that Binance US had staking available, but it required a minimum of 10k tokens and paid just 2–3%. Still, I was in. I bought my 10k tokens, and I was happy.


A better rate

So there I was, gleefully earning my 2–3% when, hey — what’s this? A staking announcement from Harmony?https://adamprescott.wordpress.com/media/9ce992d1250b300a2e93f76b77ab2f43

I could earn 12% by staking my ONE with Guarda? That’s more than a little better than what I was getting with Binance, so I needed to check this out.

The staking guide on Guarda’s site is very straightforward. It’s basically a two-step process: deposit funds & stake ’em. I grabbed some screenshots along the way, so I’ll show you what it looks like.


Staking tutorial

I didn’t have a Guarda wallet, so step one was to create one. Guarda is a non-custodial wallet. That means you’re in charge of the private keys, and if you lose them, you’re out of luck. When you create a wallet, you get a text file containing your encrypted private keys. Keep that file and your password in a secure place.

The default multi-currency wallet doesn’t have a ONE wallet, so you may need to use the Add new wallet link at add one. It’s a simple, intuitive process. If you do this, you’ll get a new wallet text file — again, back it up somewhere safe.

You’ve got your ONE wallet ready to go? Let’s get to business.

Deposit funds

Click your ONE wallet and copy the wallet address. This is where you’ll send your ONE tokens. This was my first experience with sending tokens on the Harmony blockchain, and it was refreshingly instant.

Source: Guarda wallet

I confirmed the withdrawal with Binance, and by the time I clicked refresh in my Guarda wallet, the funds were there. Well worth the $0.00 fee, I’d say!

Source: Binance US — transaction fee is 0.001 ONE, which is less than a penny

Stake ‘em

Now that the funds are in your Guarda wallet, you’re ready to stake! Start the process by clicking the Staking link beneath the wallet, followed by the Stake button.

This will bring up a prompt for you to specify how many tokens you wish to stake. There’s a minimum of 1000 ONE. Enter the quantity and click Next.

Source: Guarda wallet

You’ll be presented with a confirmation screen. We get hit with another transaction fee, this time for 0.000021 ONE — a tiny amount. It’s worth noting that, while wildly insignificant, you do need some funds to cover the small fees, so don’t stake 100%. I left 5 ONE, about $0.15, which is more than enough.

Source: Guarda wallet

Finally, click the Confirm button, and — boom — you’re staked!

Source: Guarda wallet

When you click the Staking link beneath your ONE wallet, you’ll now be given details about your staked coins and earned rewards.

Source: Guarda wallet

Conclusion

I’m so glad I found the tweet from Harmony & Guarda Wallet. The entire process of moving funds from Binance to my Guarda wallet and staking my ONE was completely painless. Given how slow and expensive it is to move things on Ethereum, this was downright enjoyable!

With just a few minutes, my confidence and excitement for Harmony grew, and I’m earning a return rate that’s 5–6 times better than I was! It feels like a serious win-win!


This story was originally published on This Crypto Life on March 9, 2021.

Robinhood, the Crypto Gateway Drug

Featured image by YIFEI CHEN on Unsplash

How I moved from slingin’ stonks to cryptocurrencies

It all started with a birthday check from Grandma. I’m 40, but I still get birthday checks from my grandparents. Cute, right?

The pandemic was in full bloom, and there wasn’t much for me to do with my birthday bucks — so I decided to head to everybody’s favorite virtual casino: Robinhood.

I was classic dumb money, investing in a certain electric car company — let’s call it Schmikola — and other less-bad-but-still-bad choices. I learn from my mistakes, though. With every misstep, I became a little smarter.

I moved from following the herd to making better, educated decisions. I was diversifying. I decided ETFs were better and started putting money into them instead. Things were growing and moving in a positive direction.

But then I realized I have a 401k for that. I asked myself:

What am I trying to do here?

That’s when I ripped it all out and put it into bitcoin. (Keep in mind that “all” is my original birthday money plus weekly investments of about $50. We’re probably talking about $500 at this point — not my life savings.) Can you guess what happened next?

Source: my Robinhood portfolio

That’s how my fascination with bitcoin and cryptocurrency began. I started exploring outside of Robinhood and discovered an entire world of choices and freedom. It’s become my number one hobby, and that’s what brings us to today.

I’ve since moved all my funds from Robinhood and into exchanges, wallets, and investments. Robinhood’s okay for getting started if your only goal is to have some skin in the game. It’s crypto with training wheels. You can’t make as many mistakes, but you also lose all freedom.

There are two things Robinhood steals from you: choice and opportunity. You’re limited to the handful of cryptos they offer, which is less than ten in a sea of thousands. And since you don’t have control of the coins themselves, you can’t use them for investing — and the investment returns in the crypto space are mind-boggling good.

That’s how my journey began. After leaving Robinhood, I began to explore the various exchanges and opportunities. I started researching lots of different cryptocurrencies. I’ve learned a ton, and I’ve had a lot of fun along the way.

In my next article, I’ll talk about how I’d start if I could restart from the beginning. There’s free money available if you know where to look. I could easily double my same $250 birthday investment in less than 6 months, and I’ll show you how. Stay tuned!


Please note that this is my hobby. This is not financial advice, nor am I qualified in any way, shape, or form to give financial advice. Learn with me; have fun with me, but do your own research and only gamble with money you expect to lose.