Do you want to learn more about Ark by investing a small amount into it? Great, that's the short and direct tutorial to get you started. I will leave out all options and variants and focus on my preferred simple way to get going.
Let's directly jump in. You can follow it step by step:
- Register on an exchange which allows to deposit your preferred currency (e.g. https://www.bitstamp.net/)
- Deposit some cash on the exchange
- Buy some Bitcoin (BTC)
- Register on https://bittrex.com/
- Send your BTC from your exchange to Bittrex.
- Buy ARK with BTC on Bittrex.
- Download and install Ark desktop client from https://github.com/ArkEcosystem/desktop-wallet/releases
- Run the desktop client and create an account (wallet) on the Ark desktop client (Store your passphrase with utter care!)
- Copy your account address from the Ark desktop client
- Withdraw ARK from Bittrex to your Ark address (you might have to approve withdrawal by email)
- Wait until you got Ark on your own Ark wallet (It will be much faster than bitcoin transfer.)
- Find the voting tab in the Ark desktop client
- Add delegate jarunik (or another profit sharing delegate)
- Pay the fee to vote for the delegate.
- You will get a reoccuring profit share from your delegate (depending on the delegates proposal)
You are done!
Some additional frequently asked questions about your first steps with Ark:
- Voting (delegated proof of stake) is similar to mining (proof of work) or staking (proof of stake) of other coins if you just look at how you can get more new coins.
- You only need to vote once. It will be valid until you unvote.
- All Ark on your account will benefit from the profit share of the delegate. Also buying more Ark does not need another vote.
- Profit sharing is entirely up to the proposal of the delegate. Check the delegates offers.
- You can only vote one delegate with one account.
- If you want to vote another delegate you will have to unvote first.
- You do not have to stay online with your account to get the profit share.
- If you get stuck you can join the slack (https://ark.io/slack) or discord (https://discord.ark.io) to ask your questions in the #help channel. There will always be someone to help there.
I will try to write some more tutorials. Tell me what topics I should cover. Feedback to improve the tutorial is also welcome.
This is an update of my original Mini Guide: https://redd.it/6b556q
Nice toturial about Ark delegate proof of stakes and voting , my questions is if I have 500 Arks on my wallet and I vote for a delegate that shares 95 percent of its rewards how much will my 500 Ark earn me per month @jarunik
Each delegates roughly forges 420 Ark per day. Thus you can calculate your weight with the delegate. 500 Ark / Total Votes of the delegate. Now you can multiply it out 420x0.95xyour-weight. You will roughly get 1 Ark every 10 days. There are also calculators which give an indication: http://calculator.reconnico.com/ But you should also check the delegates proposal and website.
You do not have to stay online with your account to get the profit share.
This has been such an important factor in staking ARK for me. I have tried POS coins in the past and living in a rural area internet is not 100% 24/7. With ARK vote for a delegate and the delegate takes care of the rest.
My question is with 500 Arks how many ark can I earn in a month, by voting for a delegate that shares 95 % profit rewards
Calculate it here to get a rough indication: http://calculator.reconnico.com/ It fluctuates quiet a bit based on all voter movement but good enough as a general rule of thumb.
Do you know if Ark will be setting up a way to buy directly with fiat instead of having to purchase BTC and using an exchange?
They are looking into it and there is already the options to directly buy with fiat through changely and other services like that. I just don't like the fees they charge. But I know that the team is very interested to get a direct fiat to ark conversion with low fees. I guess it will happen sooner or later but I have no insight into these kind of partnership discussion of the team.
Yea I agree, Changely charges a bit too much. I'm sure it will happen in the future where you can buy Ark directly, but will have to wait for now. Thanks for the answer.
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