How To Stake WMT | World Mobile Vault Guide - Passive Crypto Income

Summary

In this informative video, Pesh from Kaizen Crypto guides viewers on how to stake their World Mobile Tokens (WMT) to earn passive income. Starting with setting up a wallet using browser extension wallets like Nami, Eternal, or Tyin, the video demonstrates purchasing WMT through Tap Tools and Dex Hunter, an aggregator that finds the best token prices on Cardano. After acquiring WMT, Pesh explains creating a new vault on worldmobiletoken.com, securing it with a seed phrase, and verifying the email associated with the vault. The process of staking WMT is detailed, including the necessity to prove wallet ownership by sending a small amount of ADA. Viewers are also introduced to the concept of Earth Nodes and the potential future ability to delegate WMT to these nodes. Pesh encourages viewers to delegate to their Earth Nodes for supporting the World Mobile Token project and the sharing economy. The video concludes with instructions on how to claim staking rewards, emphasizing the educational and supportive nature of the content for the community.

Takeaways

• 🎓 **Educational Content**: The video is a step-by-step guide on how to stake World Mobile Tokens (WMT) to earn passive income.
• 🌐 **Official Website**: The process starts on the official website, worldmobiletoken.com, emphasizing the importance of using official links for security.
• 💼 **Wallet Setup**: Before staking, set up a wallet to purchase WMT, with the video featuring the Nami wallet as an example.
• 🔗 **Collateral Requirement**: When interacting with dApps on Cardano, it's necessary to set collateral in the wallet, which is defaulted to 5 Ada.
• 📈 **Token Price and Swap**: Tap tools provides an overview of token activity on Cardano and allows swapping Ada for WMT directly on the platform.
• 🛠️ **DEX Integration**: Dex Hunter, a decentralized exchange aggregator, is used to find the best prices for token swaps on Cardano.
• 💡 **Platform Features**: Tap tools offers extensive information, including token profiles, price charts, and the ability to swap tokens.
• 🔑 **Vault Creation**: The video demonstrates creating a new vault on the World Mobile Token website, which involves setting up an email and a passphrase.
• 📝 **Seed Phrase Importance**: A 24-word seed phrase is generated for the vault, which is crucial for restoring access to the wallet if needed.
• 🔄 **Token Staking**: Once WMT is in the wallet, the viewer is guided on how to stake their tokens through the vault for monthly rewards.
• ✅ **Verification Process**: To start staking, the wallet address must be verified by sending a small amount of ADA to a specified address.
• 📧 **Email Verification**: The email associated with the vault must be verified to ensure the security and recovery of the wallet details.

Q & A

What is the purpose of the World Mobile Token (WMT) project?

The World Mobile Token (WMT) project aims to support the sharing economy and allow participants to earn passive income by staking their WMT tokens.

What is the first step in staking WMT tokens?

The first step is to set up a wallet where you can purchase WMT tokens. The video recommends using a browser extension wallet like Nami, Eternal, or Tyin.

How do you set collateral in the Nami wallet?

To set collateral in the Nami wallet, you click on the profile icon, select the 'collateral' option, enter your password, and confirm.

What is Tap Tools and how is it used in the process?

Tap Tools is a platform that provides an overview of everything happening on the Cardano blockchain, especially regarding specific tokens. It allows users to swap ADA for WMT directly and is integrated with Dex Hunter, a decentralized exchange aggregator.

How does Dex Hunter help in purchasing tokens?

Dex Hunter is a decentralized exchange aggregator that finds the best prices for tokens across different decentralized exchanges on Cardano, potentially saving users money.

What is the minimum amount of ADA required to set as collateral in the wallet?

The default and minimum amount of ADA required to set as collateral in the wallet is 5 Ada.

How does one create a new vault on the World Mobile Token website?

To create a new vault, you need to enter your email address, set a vault passphrase, and then generate and securely store a 24-word seed phrase.

What is the process to stake WMT tokens after creating a vault?

After creating a vault, you need to enter your wallet address to start staking WMT tokens. If it's a new wallet address, you may need to prove ownership by sending a small amount of ADA to a specified address.

How can users earn rewards from staking WMT tokens?

Users can earn rewards by staking their WMT tokens in the vault. The rewards can be claimed monthly by following a process similar to staking, which involves sending a small transaction containing a bit of ADA to a specific address.

What is the role of Earth Nodes in the World Mobile Token ecosystem?

Earth Nodes are part of the sharing economy within the World Mobile Token ecosystem. Earth Node operators can stake their NFT to earn operator rewards for the Earth Node.

How can viewers support the World Mobile Token project and the sharing economy?

Viewers can support the project by delegating their WMT tokens to Earth Node operators, such as the ones operated by the content creator in the video.

What is the future functionality that World Mobile Token is expected to offer?

In the future, World Mobile Token is expected to offer the functionality to delegate WMT tokens to Earth Node operators, similar to how ADA can be delegated to stake pool operators.

Outlines

00:00

😀 Introduction and Overview of World Mobile Token (WMT) Staking

The video begins with the host, Pesh from Kaizen Crypto, welcoming the audience and introducing the topic of World Mobile Token (WMT). He explains that the video will guide viewers step-by-step on how to stake WMT to earn passive income. Pesh emphasizes the importance of using the official website and provides a link in the video description. He also instructs viewers on setting up a wallet, specifically using the Nami wallet, and setting collateral within the wallet to interact with the Cardano network. The video then transitions into showing how to use Tap Tools to get an overview of token activity and to swap Ada for WMT using Dex Hunter, a decentralized exchange aggregator.

05:00

💼 Setting Up the World Mobile Token Vault and Staking Process

After purchasing WMT using Tap Tools, the host guides viewers on how to create a new vault on the World Mobile Token website. This involves entering an email address for account recovery, setting a passphrase, and generating a 24-word seed phrase for the vault which should be stored securely. The process includes verifying the email address and unlocking the vault with the passphrase. The host then provides an overview of the WMT Vault interface, which includes sections for staking, Earth nodes, and auctions. He also mentions that while the Earth nodes feature is not yet live on the mainnet, viewers can still participate in the sharing economy by staking their WMT through the Vault.

10:01

🔗 Connecting Wallet and Staking World Mobile Tokens

The host demonstrates how to stake WMT by first showing how to obtain the public address from the Nami wallet. He explains the need to prove wallet ownership by sending a small amount of ADA to a specified address. After sending the ADA, he describes the process of claiming rewards from staking WMT, which involves sending a transaction with a small ADA fee to a particular address. The host concludes by encouraging viewers to like the video, delegate to their Earth nodes, and stay tuned for more World Mobile Token content.

Keywords

💡World Mobile Token (WMT)

World Mobile Token (WMT) is the cryptocurrency at the heart of the video's content. It is the digital asset that viewers are encouraged to stake in order to earn passive income. The token is associated with the World Mobile Token project, which aims to support the sharing economy. In the script, WMT is used to demonstrate the process of staking and earning rewards, which is the primary focus of the video.

💡Staking

Staking is the process of participating in the proof-of-stake consensus mechanism of a cryptocurrency by locking up a certain amount of that currency in a wallet to support the operations of the blockchain, in exchange for rewards. In the context of the video, viewers are shown how to stake their WMT tokens to earn passive income, which is a key incentive for those interested in the World Mobile Token project.

💡Passive Income

Passive income refers to earnings derived from a rental property, investment, or business without the need for much direct effort by the recipient. In the video, the presenter discusses how staking WMT can lead to passive income, making it an attractive proposition for viewers interested in generating revenue with minimal ongoing work.

💡Vault

In the context of the video, a Vault is a digital wallet or storage mechanism where users can store, manage, and stake their WMT tokens. The presenter guides viewers through the process of creating a new Vault, which is essential for staking tokens and earning rewards. The Vault is a secure and organized way to handle WMT assets.

💡Seed Phrase

A seed phrase, often a list of 24 words, is used in cryptocurrency to restore access to a wallet. It is a crucial security feature that allows users to recover their funds if their wallet is lost or stolen. In the script, the presenter emphasizes the importance of securely storing this seed phrase when setting up a new Vault for WMT.

💡Cardano

Cardano is a decentralized blockchain platform that is mentioned as the underlying technology supporting WMT. The video discusses how to interact with the Cardano blockchain, specifically through the use of a wallet that can hold and stake WMT. Cardano's smart contract capabilities allow for the complex financial applications, like staking, showcased in the video.

💡Nami Wallet

Nami Wallet is a browser extension wallet used in the video to demonstrate the process of purchasing and managing WMT tokens. It is one of the recommended wallets for interacting with the Cardano blockchain. The presenter uses Nami to set collateral, add ADA, and swap for WMT, highlighting its user-friendly interface and functionality.

💡Dex Hunter

Dex Hunter is a decentralized exchange (DEX) aggregator mentioned in the video. It provides users with the best token swap rates by aggregating liquidity from various DEXs on the Cardano blockchain. The presenter connects their Nami Wallet to Dex Hunter to swap ADA for WMT, demonstrating its utility in obtaining the best prices for token swaps.

💡Earth Nodes

Earth Nodes are a part of the World Mobile Token project, and they represent nodes that participants can operate to earn operator rewards. Although not live on the mainnet at the time of the video, the presenter discusses the future ability to stake WMT to Earth Nodes, similar to delegating tokens to a stake pool operator in other blockchain networks.

💡Tap Tools

Tap Tools is a platform that provides an overview of activities on the Cardano blockchain, specifically related to tokens. It is used in the video to monitor the price of WMT and to swap ADA for WMT directly. The presenter praises Tap Tools for its comprehensive information and user interface, making it a valuable resource for Cardano users.

💡Collateral

Collateral in the context of the video refers to a specific amount of ADA that must be set in the wallet to interact with different decentralized applications (dApps) on the Cardano blockchain. The presenter demonstrates setting collateral in the Nami Wallet, which is a prerequisite for staking and other wallet functionalities.

Highlights

Introduction to World Mobile Token (WMT) and the process of staking WMT for passive income.

Recommendation to use official links for security when dealing with cryptocurrency projects.

Demonstration of creating a new vault or importing an existing one using a seed phrase.

Explanation of setting up a wallet to purchase WMT, with a preference for Nami wallet.

Process of setting collateral in the wallet to interact with different dApps on Cardano.

Introduction to Tap Tools as a platform for an overview of token activity on Cardano.

Direct swapping of ADA for World Mobile Tokens on Tap Tools using Dex Hunter.

Description of Dex Hunter as a decentralized exchange aggregator for the best token prices.

Guidance on connecting a wallet to Tap Tools and swapping ADA for WMT.

Appearance of World Mobile Tokens in the wallet after a successful swap.

Step-by-step guide to creating a private vault on World Mobile Token's platform.

Importance of securely storing the 24-word seed phrase for wallet recovery.

Verification process for a new email address associated with the private vault.

Overview of the World Mobile Token Vault, including staking, Earth nodes, and auctions.

Explanation of how to stake WMT by entering the wallet address and proving ownership.

Process of claiming rewards from staking WMT by sending a small ADA transaction.

Future capability to delegate WMT to Earth node operators on the mainnet.

Invitation to delegate to the presenter's Earth nodes for supporting the project and community.

Conclusion and call to action for viewers to like the video and subscribe for more content.

Transcripts

welcome everybody thank you all so much

for joining me here today my name is

pesh with Kaizen crypto in this video

we're going to be talking about world

mobile token so this is a stepbystep

video showing you the process to stake

your WMT to start earning passive income

if you're a fan of the world mobile

token project like myself if you want to

help support the sharing economy and

earn some passive income in the process

this is going to be a great video for

you if you do enjoy this content make

sure you drop a like for me and if you

do find some value and if you want to

stay updated with more videos like this

make sure you hit that subscribe and

click that notification Bell as well so

you know exactly when I post a new video

so jumping right into the video today

we're taking a look at the website

worldmobile token.com

slva I will be sure to provide all of

the links which we are talking about in

this video down in the description below

so make sure you check those out be

careful that you are using only the

official link

when it comes to any of these websites

so to get started we have the option

here to create a new

Vault or we can import an existing Vault

using our seed phrase which we would

have created when we set up the Vault

initially so that's good if you've

already gone through this process and

maybe you've got another computer you

want to use uh you can go ahead and

restore it but in this case we're going

to create a new one but before we do

that there's a couple things which we

need to do and that is first off get our

wallet set up where we can purchase the

world mobile tokens and then we'll go

ahead and take a look and see how we can

create a vault and we'll have to go

ahead and store a seed phrase so let's

go ahead and take a look first at the

wallets which we are going to be using

for this video in this case here I've

got my Nami wallet uh Nami Eternal tyin

all great browser extension wallets it's

really personal preference I would

recommend you check out all three of

them that way you get a feel for what

they're like uh but in this case we're

using Nami in order to go ahead and

purchase the tokens the first thing we

need to do is go ahead and set

collateral in our wallet so in Nami to

add collateral what we'll do is click on

our profile icon and here we have the

collateral option we'll go ahead and

click on it in this case I've already

set collateral for this wallet all you

do is type in your password and just hit

confirm and that will go ahead and set

the collateral it's default to 5 Ada

which is perfect so I'll just go ahead

and close out of this but it's just

something to keep a note of uh when it

comes interacting with any different uh

daps on cardano you do have to have

collateral set so it looks good here our

wallet is all set up ready to go the

next site I want to go ahead and show

you is called uh tap tools so tap tools

is where we have an overview of

everything that's happening on cardano

as it comes to any specific token and

what's really cool is we can see not

only the world mobile token price from

the 24hour 7day or 30-day time period

we've got volume uh lots of cool stuff

here check out tap tools but if we click

on this token profile we have the

ability now along with this chart to be

able to go ahead and swap Ada four World

mobile tokens directly on tap tools so

this is one of the most immersive

platforms on cardano that I can think of

uh sometimes I'll have multiple browser

windows open just from tap tools um and

I'll tell you what you can really get

lost in this website it's it's

incredible how much information is here

so definitely be sure to check that out

what I want to do is go ahead and

purchase some World mobile tokens using

the tap tools website they've actually

got a partnership and integration with

Dex Hunter Dex Hunter is another great

plat platform building on cardano it's a

dexs aggregator right so you don't have

to worry about going to any one specific

decks to get the best price of your

tokens you can actually use Dex Hunter

which is an aggregator essentially

finding you the best prices sorting

through all the different dexes on

cardano so it's really cool it'll

actually save you some money in the

instance where you can find some cheaper

tokens on one deex versus another so

it'll do all of that for you

automatically it's a really great

platform

form in this case what I want to do is

go ahead and connect my

wallet so we're going to connect

Nami and basically giving us permissions

here we're going to go ahead and click

on access Nami wallet connected

successfully so that looks good uh and

here we see the balance in Ada so I can

go ahead and swap for the maximum value

uh in this case I don't really want to

do that I need a little bit of ADA to

play around with so let's just swap say

10 Ada for 10 Ada we will be able to

purchase approximately 34

WMT and I did want to show you this as

well as I was talking to you about the

deck aggregator and how it looks at all

the different dexes on cardano uh we can

see here it's got uh Min swap Spectrum

Wing Riders Sunday vifi musle swap Teddy

swap so it's got all these different

dexes laid out and what it'll do it'll

it'll find you the best price so we can

see here Spectrum Finance is going to be

the dexs which we're going to be

purchasing from but we're using the Dex

Hunter Dex aggregator so really cool to

see that let's go ahead and hide

Swap and basically just showing us here

now it shows 15 Ada and the reason is

because we have the Min utxo as well as

the different cost to be able to swap so

you you've got Bacher fees uh different

fees associated with using these

exchanges so that's fine that's pretty

standard I would say uh so let's go

ahead and click on sign after you type

in the spending password let's go ahead

and click on confirm and it says your

order has been placed successfully so in

just a few moments we should see those

World mobile tokens show up in our

wallet I really love what they've done

with this platform I think it's a great

way to be able to do all of your

charting doing all of your swaps all in

one place great integration here with

tap tools and Dex Hunter so now that we

have went ahead and enabled collateral

set up our cardano wallet we've even

swapped Ada for WMT we are good to go

here as soon as the WMT show up in our

wallet and there we can see it didn't

take too long at all already 34 WMT now

is available within our wallet so let's

go back to the world mobile token Vault

and and we're going to go ahead and

create a new

Vault first create your private Vault

it's walking you through the steps here

so we're going to go ahead and click on

next enter your email so this is the

email we would wish to assign to our

private Vault use this email to retrieve

your details should you lose them so I'm

going to go ahead and type in my email

address after you've entered your email

address the next prompt we see here is

to enter your Vault passphrase so it's

just like a spending password for

creating a cardano wallet I've went

ahead and entered in a passphrase I'm

going to go ahead and click on next this

is going to generate your 24w seed

phrase so these 24 words are going to be

very important make sure you treat these

very carefully if you want to use a

different computer or let's say if you

have to clear your browser cache you'll

be able to restore your wallet by

entering your 24 words so go ahead and

store these offline make sure you have

it written written down and stored in a

secure location and we're going to go

ahead and proceed to The Next Step the

next step after we have written down our

24w seed phrase is to go ahead and

confirm our 24 words so the nice thing

about this is we don't have to rewrite

the 24 words it's asking us to select

the following four words from your seed

in this order so words 16 18 21 23 so

it'll be something similar for you it

may not be this exact order uh but you

just want to select The Words which are

in this order for your specific seed

phrase and now we can see the next step

it's saying we need to verify our email

so we'll go ahead and quickly head over

to our email inbox we'll just verify the

email which was sent and it says your

email has been verified okay let's go

ahead and click on open

vault to unlock the Vault we'll go ahead

and enter in our passphrase go ahead and

click on

unlock and now we can see we are inside

of our world mobile token Vault so this

is really cool I'm going to go ahead and

just give you a brief overview

essentially of what we're looking at

here so the first window is staking so

this shows us the global stake so how

much World mobile token is staked as

well as our stake uh as far as the

rewards you'll be able to claim your

rewards every month the next section is

Earth nodes so this is going to be if

you are an earth node operator if you

have the Earth node nft you'll be able

to use the Vault to stake your nft to

earn the operator rewards for the Earth

node now something to note at the time

of me recording this video World mobile

is actually not live on mainnet where

you'll be able to stake your world

mobile tokens to Earth nodes right now

this is happening through the Vault so

you're still able to participate with

the sharing economy and stake your world

mobile tokens but in the future you'll

be able to delegate to to a earth node

Operator just like how you would

delegate Ada to a Stak pool operator so

it's a very similar concept actually as

we're on this topic I did want to show

you here as well we are actually going

to be operating our own Earth nodes when

World mobile token does have this

feature go live on their main net we've

got two Earth nodes number 406 as well

as number

764 both under the name Kaizen so if you

did find some value from this content if

you wanted to help support the world

mobile token project and the sharing

economy would really appreciate your

consideration and delegating to our

Earth nodes and the last section in this

Vault we have auctions so this is the

earth node auctions that took place uh

way back when this was in 2022 so it's

been quite a while so I would say that

this uh this page is not very relevant

for us in this case uh but now that

we've gotten an overview of what we're

looking at here let's go ahead and click

back on staking now we need to go ahead

and enter our wallet address to go ahead

and start staking our world mobile

tokens here it's giving us the option to

enter our address so how we'll do that

is we'll go back to our Nami wallet

let's go ahead and click on receive and

we're going to copy our public address

to our clipboard and just go ahead and

paste that

in go ahead and click on ADD address

it's giving us a quick uh message here

if you have not used the wallet of this

address previously in the vault you will

have to prove the ownership by sending a

small amount of ADA so in this case

that's what we're going to have to do

here so to prove ownership we'll have to

send a small amount of adaa to the

address which is

specified so you need to send the exact

amount of adaa indicated above to the

address you are trying to verify the

cost of this proof will be just the

transaction fees right so it's nothing

too crazy this is just a verif

verification transaction I'm going to go

ahead and copy this exact amount and you

need to send it to this address so it's

basically we're sending it to

ourselves and let's go ahead and do that

real quick let's go ahead and send a

transaction and I want to make sure I do

this uh exactly how it is so the first

thing would be let's go ahead and just

copy this address to our clipboard let's

go back to Nami and we're going to go

ahead and paste that in exactly like how

it is and then here we've got this

amount in Ada highlighted going to copy

that

next and go ahead and paste that in and

click on send we'll just type in our

spending password go ahead and click on

confirm and the transaction is submitted

as soon as the transaction is validated

by the blockchain we should see our

amount of world mobile tokens here

available to State while we're waiting

for the transaction to be validated just

quickly taking a look here we'll be able

to see the amount of world mobile tokens

which we hold in our wallet here at the

top our total balance of

WMT so every month as of right now we're

able to earn rewards for staking

WMT and you'll be able to claim rewards

by clicking this button and then it's a

similar process to claim rewards as well

you simply send a small trans trans

action containing a little bit of ADA to

a specific address to be able to claim

those tokens so closing out this video

for today I really do hope that you

enjoy this type of content it's a how-to

video step by step on how to stake your

world mobile tokens by creating a vault

in the future we will be able to

delegate World mobile tokens to Earth

node operators so again if you did enjoy

this content if you want more World

mobile content like this make sure you

delegate to our Earth nodes that's how

we're able to create content like this

and continue providing value for the

community all right everyone well thank

you so much again for watching if you

did enjoy this video be sure to drop a

like for me before you head out today

and I will see you all in the next video

take

[Music]

care