A step by step walkthough.
March 18, 2021
So at this stage, you should already know a bit about Rare Coin. But how do you actually get some? Well, it’s not as hard as you might think, all you need to do is make sure you have these three prerequisites in check!
1) You Have An xDai compatible wallet like Metamask Installed
2) You Have Some xDai On That Wallet
3) You Know How To Exchange xDai for Rare on Honeyswap.org (just like uniswap)
If you have no idea what those things are, don’t worry that’s what we are going to cover in this article. If you are Brand New To Rare Coin, you should learn why Rare Coin is different, valuable, and fair First.
You Can Read The Basics Here What Is Rare Coin?
If you just want to learn how to connect to xDai network or perhaps want a tutorial on how to interact with our apps then this article is not for you, instead, you can search for the exact resource you are looking by clicking here.
Before you can get Rare Coin we will need a place to store it. If you already have a wallet then you need to make sure it is compatible with xDai first. If you have Metamask then you should stop here and follow this tutorial to learn how to set it up to the xDai network.
If you don’t have one at all yet, then we recommend Metmask. It is free, open-source, and is the most reliable! So pause here, and setup Metamask then come back to carry on with the tutorial.
xDai is a stable coin that is equal to the US dollar. It is the native currency on the xDai stake blockchain where Rare Coin Lives. Just like Ethereum in order to do anything on the network, you must be able to pay for the fees.
On the xDai chain instead of Ether, we use xDai to cover those fees. Luckily it cost far less to transact on the xDai chain (<.00001 cent) it’s also very fast (<5s per transaction) So in order to buy Rare Coin we are going to need some xDai first. So how do you get them? Well, there are a few methods to achieve this. Pick the one that best suits your situation.
1) You can buy some with fiat currency like GPB, USD or CAD with a service like ramp.network. Ramp makes it really easy to buy xDai with a visa debit or credit card. Using the ramp app, you can get some xDai sent right to your wallet within a few minutes. We have a full tutorial on how to do that here with any wallet.
2) You can claim 0.01 cents for free through the Blockscout faucet! It’s just enough to cover the rare claim a day or cover the xdai fee when transfering tokens from off chain!
3) If you have some Dai on the Ethereum network you can convert it to xDai using the xDai Bridge (However This will cost ETH gas fees and tiny xdai fee <0001 cent). If you want to do that Honeyswap wrote a great article on how to do that here.
3) If you have tokens or dai on BSC you can learn how to bridge them to xdai network easily here!
4) If you have tokens or usdc on Polygon you can bridge them to xdai network easily here!
So once you get some xDai you will be ready for the final step!
Honeyswap is a decentralized exchange that lives on the xDai network, we call this a DEX for short. Honeyswap is a special app that lets you trade different crypto assets through your wallet’s browser. It is here, where we can actually buy and sell rare coin!
Simply navigate to app.honeyswap.org in your wallets native browser and there you will be able to connect to the exchange with a simple tap of a button. Once connected, you can safely exhange the assets of your wallet with a few simple taps! And once again, we have an easy-to-follow tutorial that walks you through step by step on how to buy and sell rare coin with honeyswap!
Congrats! Now that you are a Rare Coin holder, you might want to check out our other apps to learn how to earn even more Rare!
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