How To Stake WMT | World Mobile Vault Guide - Passive Crypto Income
Summary
TLDRIn 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
😀 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.
💼 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.
🔗 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.
Mindmap
Keywords
💡World Mobile Token (WMT)
💡Staking
💡Passive Income
💡Vault
💡Seed Phrase
💡Cardano
💡Nami Wallet
💡Dex Hunter
💡Earth Nodes
💡Tap Tools
💡Collateral
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
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