WTF is WAVES?! / How to create your own coin = Practical Example: KOALA Coin (+Leasing Waves)
I have gathered a little crypto currency portfolio that consists of several coins.
Sometimes I am in such a frenzy to get the next new coin that I am not really sure what I bought there...
One of these coins is: Waves [WAVES]
Coin: Waves [WAVES]
#17 biggest crypto currency
Market cap: 426m$
Supply/ volume of coins: 100m
Price: $4.24 (0.00167589 BTC)
Costs to create your own asset/ token/ coin: 1 WAVES
Time to create your own asset/ token/ coin: 10 minutes
Current assets: 2235
What can you do with Waves
- Waves was invented to make creating your own assets/coins easy as hell.
- It has an integrated decentralized market exchange
- you can create your own master node (minimum 10k Waves required) or make Waves by leasing your waves to another Master Node
Where/ how can I get Waves
a) You can buy waves directly on the integrated market (Waves Decentralized Exchange)
b) from other individual who has WAVES
c) any exchange that has this coin listed (e.g. Bittrex)
Buying Waves at the integrated exchange
1. You need to get a Waves client. I will always prefer a desktop solution over a mobile client, but there are several options to choose. Just go to the Waves homepage and download/ install it
I went for the Chrome Extension in this case
2. Deposit BTC on your Waves Wallet.
I am always doing a small test transaction with the minimum required amount first
After 10 minutes successfully transferred some micro BTC
3.Go to the internal exchange and trade buy Waves for BTC.
click the icon
Always make sure that a coin like Bitcoin, ETH, etc. is verified by Waves, because anyone can create a token with a very similar name. This is the one and only Bitcoin BTC. Identified by the green check mark!!
4. Go to the section "Waves sell orders" and pick the lowest price at the top. make sure there are enough coins available for your order
5. Enter the amount of coins you want to buy at the bottom and submit your order. "Buy"
6. wait for your order to be processed and check your Balance. (This is of course my total balance)
You are now the proud owner of some Waves
How to create your own coin / Practical Example: KOALA coin
1. Go to section "Token Creation*
2. Insert your desired coin name, amount of coins, decimals, re-issuable yes/ no(i went for the option no, because I don't want to play central bank and issue some more tokens later^^)
3. For this example I have created the KOALA coin
4. it costs you 1 Waves to create this. double check everything and submit
Wait a few minutes for your coin to show up
You have successfully created your own coin
Waves Asset 2231 = KOALA
I am not sure what to do with it yet. Maybe it can help to save the Koalas somehow?... Ideas, plans are welcome =)
Every comment on this post will receive one free KOALA
Just provide our Waves address in the comment section of this Steemit blog post.
Waves addresses look like this:
How to lease your Waves to make even more Waves
If you want to have a masternode to "mine" Waves you need at least 10k Waves. If you don#t have that kind of Waves, you can still lease it to another Waves masternode and receive rewards
Go to Leasing
Insert Waves address of a masternode
A link to a list of masternodes can be found in the section at the bottom
Double check and submit
Success again. You are now leasing Waves and should receive rewards after a few days
this song has nothing to do with the coin, just a coincidence^^
Just found another video that is quite cool called Waves in a nutshell
This is not an investment advice or guarantee to be 100% accurate, just my own experience and thoughts.
If you find anything that is really wrong please mention it in the comment section and I will verify/ update the content
Feel free to donate some WAVES to me:
Upvote, comment, follow & resteem for more stuff like this