How to Lend tBTC on Spark using Bitcoin.com wallet

Summary

In this video, viewers learn how to lend TBTC on Spark using the Bitcoin.com wallet to earn yield on their Bitcoin. The tutorial covers connecting the wallet, selecting the TBTC amount to lend, and confirming transactions on the blockchain. It emphasizes the requirement of at least $100 worth of TBTC to be eligible for rewards. After completing the deposit, users can head back to the reward center to continue earning crypto. This step-by-step guide simplifies the lending process, ensuring users can easily participate in Spark's decentralized lending protocol.

Takeaways

• 😀 You'll learn how to lend TBTC on Spark to start earning yield on your Bitcoin using the Bitcoin.com wallet.
• 😀 The first step is to go to the reward center and tap on the quest labeled 'Supply TBTC to Spark'.
• 😀 This will redirect you to Spark's decentralized lending app.
• 😀 You'll need to connect your Bitcoin.com wallet to the app using Wallet Connect.
• 😀 Make sure you select the same Bitcoin.com wallet linked to the reward center for the connection.
• 😀 On the Spark TBTC lending page, select 'Actions' and input how much TBTC you want to lend into the protocol.
• 😀 To be eligible for the quest reward, you need to deposit at least $100 worth of TBTC.
• 😀 After selecting the amount to lend, press the 'Permit' button to interact with Spark’s lending protocol.
• 😀 Open your wallet and slide to confirm the transaction.
• 😀 Make sure you have some Ethereum in your wallet to complete the transaction on the blockchain.
• 😀 Once the transaction is confirmed, you'll have successfully lent your TBTC on Spark and can keep earning crypto through the wallet.

Q & A

What is the first step in lending TBTC on Spark?

The first step is to go to the reward center and tap on the quest labeled 'Supply TBTC to Spark'.

How do you connect your Bitcoin.com wallet to the Spark decentralized lending app?

You connect your Bitcoin.com wallet by using Wallet Connect. Select the Bitcoin.com wallet when prompted to choose a wallet.

Why is it important to choose the same wallet in both the reward center and Spark's lending app?

It is important to choose the same wallet to ensure that the wallet linked to the reward center is the one used in Spark's lending app, ensuring a seamless experience.

What is the minimum amount of TBTC required to be eligible for the quest reward?

To be eligible for the quest reward, you must deposit at least $100 worth of TBTC.

What action should be taken after selecting the amount of TBTC to lend into Spark's protocol?

After selecting the amount, press the 'permit' button to interact with Spark's lending protocol.

What is the next step after pressing the 'permit' button in the Spark app?

After pressing the 'permit' button, open your Bitcoin.com wallet and slide to confirm the transaction.

What additional requirement is needed to complete the deposit of TBTC into Spark's lending protocol?

You will need some Ethereum in your wallet to pay for transaction fees on the blockchain.

What should you do after confirming the deposit of TBTC into Spark?

Once the TBTC is confirmed, go back to the Spark lending app and wait a few seconds for the transaction to be confirmed on the blockchain.

How can users continue earning rewards after lending TBTC on Spark?

After completing the lending process, go back to the reward center to continue earning crypto on the wallet that pays you.

Is Ethereum necessary for lending TBTC on Spark?

Yes, Ethereum is necessary to cover the transaction fees on the blockchain when interacting with Spark's lending protocol.