How to stake on Dex on SmartBCH for newbies

Welcome to this brief lesson about the much-desired topic of the moment. "staking on SmartBCH Dex".

Since the SmartBCH launched two months ago a lot of people have made huge amounts of money from farming and staking on SmartBCH Dex. While this is so appealing to some of us who have been able to get a piece of the actions, most people are still completely ignorant about the whole thing going on and have the desire to know how to be a part of this great opportunity.

I have written a couple of articles about SmartBCH previously, but they seem to not be enough for many to understand how the whole process works especially how to use the Dex. In this article, I want to take the pain to explain briefly how to do it using the Tropical finance Dex as our study.

Steps to farm or stake tokens to earn reward on the Tropical finance Dex

Dex means decentralized exchange where you buy and sell SmartBCH tokens, it's is also on the Dex you farm and stake tokens to earn a .reward.

1. Download MetaMask wallet and set up SmartBCH network

This is the first thing to do to get started. MetaMask wallet can be downloaded on the Google play store easily. After creating your wallet remember to write down your seed phrases for security purposes.

To set up the SmartBCH network on your MetaMask, go to your wallet, click on the dotted lines at the top right corner of the wallet, click on setting and then add network.

Copy and paste the SmartBCH network details on the form provided and click add. If you have done it successfully your SmartBCH network is ready to be used on your MetaMask browser.

To add the SmartBCH network on MetaMask you can follow these simple instructions.

Go to your MetaMask wallet.

Go to settings -> Networks -> Add Network

> Network Name: SmartBCH

>RPC URL: https://smartbch.fountainhead.cash/mainnet or https://smartbch.greyh.at (either of the two)

>Chain ID: 10000

>Currency Symbol: BCH

>Block Explorer URL: https://www.smartscan.cash

2 Fund your wallet with SEP 20 BCH

SmartBCH works with SEP 20 BCH, not the main BCH. This is where most people find it hard to get through. To do this you have several options to choose from. You can use one of the available bridges to send SEP 20 BCH into the MetaMask wallet.

1. CoinFLEX.com

2. hop.cash

3. BCHCC.CASH

Among the options, BCHcc.cash works faster. Copy the link and paste it on your MetaMask wallet browser and click to go to the website. once on the website you will see a button where it asks to connect wallet, click to connect your wallet. After that is done, it will show you a page where you need to choose the direction of what you want to do. Select BCH to smartBCH and copy the deposit address.

With the address go to your main BCH wallet to make the transfer. please remember not to close the BCHcc.cash page before going to make the transfer. Immediately after the transfer go back to the BCHcc.cash site on your MetaMask to watch the transfer being processed. Once the process is 100% completed which is only within a few minutes, your SEP 20 BCH will be credited immediately. Now you are ready to buy your first smartBCH token on the Dex.

Note, do not send less than $10 BCH through the BCHcc.cash otherwise, your transfer might not be carried out.

3. Buy tokens on the Dex

There are about 6 Dexs on smartBCH at the time of writing, let's buy some tokens in one of them. In this lesson, we will trade on Tropical finance Dex where we hope to also stake the tokens we buy.

To get started on the Dex, copy the link http://dex.tropical.finance and paste it on your MetaMask browser to go to the Dex site. Once on the home page, click on the three dotted lines at the top right corner of the page and select trade from the options, choose exchange from the drop-down to make your trade.

To buy DAQ you will need to select it from the tokens available for trading on the Dex. once selected, then go to your BCH section and type the amount you want to spend for DAQ. If you want to spend all your BCH click on the 'MAX' button to load it. But it is required that you always have some BCH left in your MetaMask for transaction fees anytime you interact with the Dex.

As soon as your DAQ is loaded click approve to give permission to your wallet to perform the trade. This action requires a little fee. You will be taken back to your wallet to confirm the approval. on your approval page click confirm to go back to your trade to complete the transaction.

The next action is to click on the 'SWAP' button to complete the trade. You will be taken back to your wallet once again to confirm the transaction fee. Once confirm the trade will be completed automatically and your DAQ will be reflected on your wallet if you have already added the token contract address.

Basically, you will need to add DAQ contract address to your wallet before doing the trade. Here is the DAQ contract address:

0x24d8d5Cbc14FA6A740c3375733f0287188F8dF3b

Read this article also to know how to add contract address to MetaMask and other basic information you need about smartBCH;

https://read.cash/@Fexonice1/how-to-start-with-smartbch-for-newbies-and-laymen-ddf4ed95

Now that we have succeeded in getting some DAQ, let go to the next stage which is to stake our precious DAQ.

4. Staking Daiquiri on the pool

To stake DAQ let's get back to Tropicalfinance Dex again. On the Dex click on the three-dotted lines at the top right corner of the page once again, from the features click on the pool to go to the staking page. There are several pools to choose from but since we only have DAQ which is the native token of the Dex and with the highest staking APR, we will choose the top staking pool.

To stake your token you will need to approve the contract by clicking on the Approve button. As usual, you will be taken back to your wallet to approve the transaction fee. once approved you will be taken back to your staking pool where you have to click on stake again to move your DAQ from your wallet to the pool. immediately you succeeded in staking your DAQ your earning starts counting.

Note: the higher the number of tokens you staked the higher the return which is also based on the APR for the pool.

CONGRATULATIONS FOR SUCCESSFULLY STAKING DAQ ON TROPICAL FINANCE.