Different Cryptocurrencies, both big and small, including MOONRABBIT are beginning to add the staking option, and staking impacts positively on the blockchain industry generally. However, there are other ways of staking.
MOONRABBIT offers passive staking, unlike so many other cryptocurrencies. MOONRABBIT staking does not follow the same process as the other cryptocurrency staking. Holding the MOONRABBIT coin automatically makes you a passive staker. So, all you need do is to buy the MOONRABBIT coin, and you are good to go.
This article will guide you to carefully and successfully buy your MOONRABBIT coin and start earning a passive reward.
What is MOON RABBIT?
MOONRABBIT is a cryptocurrency founded by Angel Versetti in June 2021. MOON RABBIT works on a passive staking mechanism and every user holding the MOON RABBIT earns a passive dividend. In addition to passive staking, MOON RABBIT has a built-in liquidity function which slowly creates and adds liquidity, increasing the price floor.
Different cryptocurrencies have listed MOON RABBIT, but you cant purchase it directly with fiats money. To buy this coin, you will need to buy Bitcoin from a fiat-to-crypto exchange and, in turn, transfer it to any exchange that trades the coin.
How to buy MOON RABBIT
MOON RABBIT is hard to buy because you can’t get it directly with fiats money. To get MOON RABBIT, you can buy Bitcoin using fiat-to-crypto exchanges. Then go-ahead to transfer to any exchange that trades MOON RABBIT. Here is how to carefully and successfully purchase MOON RABBIT
Sign up on Fiat-to-Crypto Exchange – the first step is to get Bitcoin. Bitcoin is a significant cryptocurrency. You can also decide to go for other cryptocurrencies. You need to register with common fiat-to-crypto exchanges, for example, Coinbase and Uphold.com. The decision on which one to use is solely on you. You need to go through their features, including the fees involved and know the one that soothes you more.
Use Fiat money and buy BTC – after the registration with your favorite exchange, you will be able to make a payment. You can either pay through a credit card, debit card, or bank transfer. This all depends on your location and the one most convenient for you. Cards are faster, but you will be charged higher fees. Bank transfers are slower with lower fees. The choice is yours to make. Assuming you chose Coinbase, after making the payment, on the top left, you will see the trade button. Click on it and select Bitcoin. Then go ahead and confirm your transaction.
Transfer your Bitcoin to your Altcoin Exchange – we are almost done with our fiat-crypto exchange. It is time to proceed to the Altcoin Exchange. After successfully buying BTC, keep in mind that we are here to buy MOON RABBIT. The next step is to convert our BTC to MOON RABBIT. You can do this using Pancake swap. I will guide you on converting your BTC to MOON RABBIT on pancake Swap.
Pancake swap is in the same category as other decentralized exchanges like sushiswap and Uniswap. The difference is that Pancake Swap runs on Binance Smart Chain (BSC). On BSC, you can trade all your Bep-20 tokens, unlike the Ethereum blockchain, which trades ERC-20 tokens.
Pancake swap will have a slightly different conversion step. You don’t need to create an account or go through the whole KYC process to get started on a Pancake Swap. However, you will be given a private key each time you are trading on a decentralized exchange. Endeavor to keep the private key of your altcoin wallet safe. If you lose your private key, you won’t be able to access your coins, and customer care can’t do anything about it.
However, if you are not comfortable or sure about using a decentralized exchange (DEX), you can check if MOON RABBIT is available on any of the centralized exchanges.
So, to proceed in converting your BTC to MOON RABBIT, you will do the following.
- Convert BTC into BNB on Binance.
We have mentioned that MOON RABBIT is a Bep-20 token that runs on Binance Smart Chain. So, you can simply transfer the BTC you bought from coinbase (assuming you settled for Coinbase to Binance and convert it to BNB.
After registering on Binance, scroll to the wallet page, select BTC, and click on deposit.
Copy the BTC address and go back to your Coinbase account.
Withdraw the BTC to the copied address and wait till it arrives. (this usually takes about 15-30 minutes if the BTC network is stable).
When you receive it, trade your BTC to Binance coin (BNB)
- Transfer your BNB to your wallet
Guess we are not done with creating wallets yet. You need to create a wallet, or better still, go for a Hardware wallet like Ledger Nano. This wallet will help you store your BNB and MOON RABBIT. These hardware wallets are very safe. Just ensure that you keep your seed phrase safely. If you are active in the crypto space, you should get a hardware wallet. It is also fast and easy. However, if you don’t want to get a hardware wallet to store your BNB and MOONRABIT, you can go ahead and create your wallet. It is simple to create.
We will use Metamask as an illustration of how to create your wallet.
- You can use google chrome. Go to Chrome Webstore, and search for Metamask. (ensure that https://metamask.io offers it)
- Click on Add to chrome.
- Get started will pop up on the screen. Click on it.
- On the next screen, you will see create a wallet. Read all the instructions and click on Agree.
- Choose a password. This password is just for accessing your chrome extension.
- You will see reveal secret words; click on it. Copy the random words that will be displayed and store them safely.
- The next step is the confirmation stage. Click on confirm. Your wallet is now ready.
Unlock your wallet with your password. Simply click on the Metamask icon on the extension bar and unlock. Your initial balance will also be displayed
Go back to pancake swap
You have successfully created your wallet.
Go back to Pancake swap. At the top, you will see connect. Click on it and choose Metamask. Copy your Metamask address to your clipboard by clicking on the account name.
N:B– if this is your first time connecting with Metamask, you will be asked if you want to add the Binance Smart Chain network to your Metamask. Please proceed with that because it will help you confirm that you are sending your BNB to the correct network.
Now go to Binance. Go to the BNB wallet and click on withdraw. You will be taken to the recipient’s address and paste your wallet address.
On the transfer network, select Binance Smart Chain (BSC) or BEP20 (BSC)
Click on submit and then verify.
Your BNB should arrive shortly after your withdrawal.
Hurray, you are now ready to buy your MOON RABBIT. Just a few more steps, and you are done.
Head back to Pancake Swap, select trade> Exchange on the left sidebar
You will see a big button saying connect wallet or snap. If you have connected your wallet as we previously instructed, you will see your BNB balance.
Enter the amount you want to exchange for MOONRABBIT.
Choose MOON RABBIT from the drop-down.
Immediately, it will display the corresponding amount of MOON RABBIT.
Verify and then proceed with swap.
Confirm the transaction on the next screen by clicking on confirm.
At this point, Metamask will pop up on your screen and ask if you want to allow pancakeSwap to spend your BNB; click on confirm.
The confirmation screen will show the transaction submitted.
Congratulations, you have finally gotten your MOON RABBIT
The process of getting the MOON RABBIT token is stressful and complicated. You have to be extra careful when buying it because any mistake can cost you a lot. In purchasing it, you will need different wallets, which means that you will have other private keys and seed phrases. Endeavor to keep all of them safe because losing any of them can make you lose your coin.