Harmony Blits Wallet Staking Guide
After such positive feedback from my Ledger Nano S guide as well as my Harmony One Wallet Chrome extension guide, I thought I would create a similar guide for using Blits Wallet. If you need any assitance on the below guide please contact me here.
1) Download Blits
Please search your app store for the Blits Wallet. Direct links can be found here: https://blits.net
2) Click ‘Create Wallet’ Or ‘Recover Wallet’.
If you already have a 12 word seed phrase then click ‘Recover Wallet’ and enter your information. This will reocver your wallet. If this is a fresh setup and you would like a new wallet then click ‘Create Wallet’.
3) Enter Pin
This will create a security pin that is used before any transactions are made. After inputting your Pin, you can select if you would like to use Touch ID, Face ID etc for quicker access.
4) BACKUP YOUR WALLET
You will be required now to write down your 12 words. Do so with a pen and paper. Do not copy or save these onto your computer. Click next and you will be asked to enter these back in the same order as a security measure to make sure you copied them down correctly. Please check spelling!
5) Congratulations you now have full access to your own private wallet.
Your wallet address and ONE balance can be found on the colour credit card shape (as shown above).
4 buttons can be found along the bottom of the coloured card.
Send — This will take you to a page that can be be used to send coins out of your wallet.
Receive — This can be used to copy your wallet address ( see below )to receive coins from another wallet or exchange.
History — This will show all the transactions performed in your wallet that go in or out.
Staking — From here you can stake your coins ( see below )
6) Send funds to your wallet.
Please click on the Receive button. This will give you your address, QR code and a copy button. I find using the copy button the most efficient for use on all other exchanges and wallets.
Click copy and use this address as the Recipient / To address on the exchange that currently holds your ONE. I suggest sending over a small 100 ONE as a tester to make sure you have done everything correctly. Once the 100 ONE arrive, please repeat the process for the rest of your balance.
Please note, exchanges can take some time to release your coins so please don't immediately be alarmed if they don't arrive within the 2 seconds harmony speed.
You may need to force close the app and reopen for the balance to refresh ( this only affects some users ).
The part you have all been waiting for! Please click the ‘Staking’ button to be presented with a randomly ordered list of validators. For demonstration purposes I will use my own validator as an example. You may use the search button at the top to select a specific validtor of your choice.
From the individual validator page you will be showing various stats. For example Total Stake, Commission/Fee ( the fee is a cut of the interest generated. For example if a validator has a 5% fee and they generate you 100 ONE in a month then 5 ONE go to the validator and 95 ONE to you ). It is worth noting that all validators are required to have a minimum 5% commision 100 epochs after their first election.
You will see at the bottom ‘Delegate’ and ‘Undelegate’ buttons.
To begin staking please click the Delegate button.
From here you can enter the required amount to stake ( 100 ONE Minimum ) . I recomended leaving 1 ONE not staked to help cover any future gas fees for claiming, unstaking etc. 1 ONE will do thousands of transactions.
Please take a moment to read the red text about the unstaking process for whenever you decide to stop staking.
Confirm your balance and you will get a success message. Congratulations you have now staked your first ONE.
Rewards will begin earning on the epoch following your staking which could range from 0–24 hours time depending when you stake within an epoch.
8) Confirm stake and claim rewards
To confirm your stake you must visit the portfolio page. this can be found by clicking again on the staking button followed by Portfolio at the top right.
From here you can see all your current delegations across as many validators as you may have chosen.
In order to claim your interest you must hit the Collect Rewards button at the bottom of this page. After doing so the coins will be moved to your available balance on the front page ( colour credit card shape ).
To restake your rewards earned you do exactly the same process as the first time, you do NOT need to undelegate first but the 100 ONE minimum still applies.
Telegram Group Chat: https://t.me/fortuneonevalidator