Step 1 – Buy Reddcoins
Before we start, of course, we must first buy RDD’s (Reddcoin).The RDD is unfortunately not yet represented on many exchanges and can therefore be bought in large quantities only on Bittrex.Here is a list of exchanges where you can buy RDD’s with Bitcoin
A direct exchange of Fiat in RDD is currently not possible. At least I know of no marketplace. But can be supplemented if any of you will find it.
Step 2 – Download & Install Reddcoin Wallet
So now we have bought our first RDD’s and of course do not want to leave them on the stock market. For this we should download the Wallet of the Core Team, which you can get here on the official website.
After the download is finished, you can install the wallet as normal on your PC or laptop.You can now start and synchronize this (needs 1-2 days to sync).
Important: After the wallet is done, you should first make a backup copy and secure it on an external storage device.
The backup copy can be created by clicking on File -> Save Wallet.
You also need to create a passphrase which is your security code for the wallet.You can easily do that by clicking Settings -> Encrypt Wallet. For me, the field is grayed out because I have already created a passphrase.
When you’re done with it, your wallet is safe and you can send your RDD’s to the wallet.
Start Staking Reddcoins
Now you send your coins to your wallet, if you have not already done so, and just leave them there. But that alone is not enough. To start with the stak, you have to release your wallet for it with you passphrase. At the moment the lock is still closed in the lower right corner and thus not released for public use.
In the wallet, click on Settings -> Unlock wallet and enter your passphrase there. Do not forget to check the box for “Staking only”. Now your wallet is ready for use. The castle should now have opened.
By clicking on the arrow you will notice that you do not have any mature coins yet. This is not a problem as your coins must be on the wallet for a while to become mature coins and start to steal. But that happens completely automatically.
Now we have made all the preparations to get started.All you have to do now is keep your wallet open and online. As long as these requirements are fulfilled you will receive new RDD’s on your wallet.Each time you restart the wallet, you’ll need to redial it with your passphrase.
Picture of what it looks like when your wallet started to staking.
I hope everything is understandable in terms of content and you can now start staking successfully.