BUZZCOIN - Your Complete Guide to Getting Started Earning 1200% Annually via Proof of StakesteemCreated with Sketch.

in #staking7 years ago (edited)

How to Stake Buzzcoin and Earn 1200% per Year

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Making your first Purchase on the Exchange

You will need to first get Registered on the Yobit Exchange to be able to buy/sell Buzzcoin.

Yobit Signup: https://yobit.io/?bonus=eJqCN
Click on Register in the top right corner

Once you register you will need to verify your account via email. Once completed you will be able to buy/sell coins on the exchange.
You will need to Login to your account

Once logged in you can navigate to the Wallets tab. (Note it is highly recommended that you enable 2 Factor Google Authentication on all your online accounts to prevent them from getting hacked).

You will need to locate the BTC Currency. If it is not displayed then you can search for it in the Search bar. Note there is a Deposit and a Withdraw button to the right of the screen. We will be making a deposit so you will need to select the + or Deposit button.

It will bring up your BTC Deposit Wallet address. You will need to copy this address to be able to send BTC to this address. As a precaution only send BTC to this address any other currency type sent to this address will be lost forever. The BTC address looks like this: 13LEekbJUYDU6rpPX6HUdkLneqptfD2XtR
You can now navigate to your digital wallet in this example I will be using Coinbase to send BTC to this exchange.

Select Accounts and on the left you will see where you can select BTC

Click on Send and the following screen will appear:

Enter in the address from the Yobit Exchange assigned to your BTC Deposit address (for example my address would be 13LEekbJUYFU6rpPX6hUdkLneqptfD2VtR) and the amount in USD that you want to spend. For this example, I will send $25.

There will be a small transaction free incurred, bringing my total send balance to $26.02. Click continue and then click Confirm to send the transaction.

Note: The transaction will show as pending until it receives 6 confirmations on the Blockchain network.
We will now navigate back to the Yobit Exchange. You should have a BTC balance, which we can use to purchase our Coins (Buzz Coin).

Click on Market in the Menu tab and in the Search bar type BUZZ.

Click on BUZZ/BTC.

At the top, you will see the Last sell price, the 24 Hour high and low. For this purchase, I will be placing a limit order for 35 Satoshi with my entire balance by changing the price to 33 and clicking on my entire BTC balance to autofill the rest of the fields. This will yield me 13145 BUZZ Coins.

Once I click on Buy my order(s) appear in the Trade History Section. Once the price hits 35 Satoshis then my order will be executed.

Transferring BUZZ Coins to your Desktop Wallet for Staking

Now that you have successfully purchased your BUZZ coins on the exchange, it is time to withdraw them to your desktop wallet to begin Staking them for Daily Profits. Buzzcoin is being actively developed as a Proof of Stake (PoS) coin, with a current interest rate of 100% per month.
Navigate to the website http://www.buzzcoin.info/

Scroll down or select GET STARTED and select Download from the top Menu. Click on Windows Wallet.

Click on Download.

Once complete, double click the wallet to open it up. Note it will need to sync up to the network to download the blockchain transactions. Please allow it to complete. You will first need to Encrypt and Unlock your wallet by selecting Settings->Encrypt Wallet.

You will be required to create a 10-character passphrase (if you lose this passphrase there is no way to recover it so write it down). The wallet will encrypt itself and then will shut down. You will need to re-open the original download buzzcoin-qt.exe and click on Settings->Unlock Wallet to get started.
The next step is for you to create a backup of your wallet in case your computer crashes. You will simply click on File->Backup Wallet and save it to your Local Drive or better yet an external drive.
We are now ready to send the BUZZ coins that we purchased from Yobit to our Desktop wallet. Click on Receive from the Left-Hand Menu.

You will see your Receive address (Note you may change the Label to Yobit if you like). At the bottom of the screen you will need to click on Copy Address. Once copied, we can navigate back over to our Yobit account and click on Wallets from the Top Menu.

In the Search bar type BUZZ.

Click on the – or Withdraw button.

You will now paste the Copied BUZZ wallet address into the Withdraw Address Field and enter the respective amount of BUZZ coin that you would like to withdraw

You will then click on withdraw request. Once accepted, you may be required to confirm the transaction via Email. After about 5-10 you will see the transaction appear in your Desktop Wallet.

Depending upon the amount of coins you purchased, you will begin to receive your staking rewards in 24-72 hours several times of day. It all depends upon your network weight. (Note you should have a green check, several network connections and a Green Staking button and an Unlocked wallet as depicted in the bottom left corner to receive your staking rewards. You will also have to keep your computer on at all times to continue to Stake. Other than that, you are good to GO.

Happy Staking!

UPDATE: As of 9/24 the Yobit Wallet is currently under maintenance due to a BuzzCoin Wallet update.

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