Harmony One Wallet Guide
As of 11th February 2022 Harmony One Wallet is no longer the recomended Harmony wallet. PLEASE USE MY METAMASK STAKING GUIDE HERE.
After such positive feedback from my Ledger Nano S guide I thought I would create a similar guide for the Harmony One Wallet Chrome Extension. If you need any assitance on the below guide please contact me here.
1. Download browser.
2. Download the wallet.
You now need to download the wallet itself. Please search within the chrome extension library for ‘One Wallet’ or use this direct link. For peace of mind the link for the wallet can also be found on the harmony staking website here. Once you have located the extension page click ‘Add to Chrome’.
You may need to make the extension visisble on the top bar of your browser. To do this click the jigsaw icon which will dropdown all your extensions, followed by the pin icon next to the harmony extension. This will bring your harmony wallet to the forefront, next to the URL bar.
3) Create your account/wallet on the One Wallet.
Now comes the fun part. Creating your wallet. Pay attention to these next steps as they are important.
- Enter a name for your wallet (This is a nickname and can be whatever you want it to be)
- Click Next: Enter a password for your wallet. Don’t forget this as it will be required when making transactions such as to another wallet or staking.
- Seed Phrase — THE MOST IMPORTANT STEP. Write this down on pen and paper. Don’t save this to a file on your computer. Double check your spelling. This is the ‘key’ to your wallet should you ever need to import your account again in the future.
- Click Next: You will now be prompted to enter the seed phrase as a confirmation.
- Click Next: Enter a pin. This will be used to open your wallet each time you reopen your browser. It stops anyone who gets access to your computer being able to play around on your wallet.
- Your wallet has now been created. Congratulations! You will now be presented your balance, wallet address and wallet name.
3a) Optional: test your seed phrase
This stage is up to you. There have been those who incorrectly wrote down their seed phrase and upon trying to import a wallet, failed. Firstly make note of your wallet address ( last 3 characters is enough ). Next, uninstall the extension. This will wipe your account from chrome browser. Follow the Step 2 again to install the wallet. This next step is slightly different: click ‘IMPORT’ wallet rather then creating a new one. Change the dropdown to mnemonic and enter your seed phrase ( all lowercase and a single space between words ). Continue the process through and you will be presented with your original wallet back again ( confirm this by the last 3 characters of the address ).
4) Top your wallet up
Now lets get some ONE into your wallet. Click the wallet address to automatically copy your public address. A public address is used to send funds to your wallet. There is no risk to this address being made ‘public’.
Choose the exchange or wallet that holds your ONE and click Withdraw. Enter the address you previously copied and a small amount, say 100 ONE and click send. You may need to confirm with 2FA depending on your origin such as Binance. Dont be alarmed if it does not arrive straight away depsite Harmonys 2 second finality. Exchange release the coins when they see fit, sometimes up to an hour. Once it has arrived then please go ahead and send your full balance.
5) Link your wallet to the staking site
Now we get to the good part. Time to make some passive income.
- Go to the harmony staking page. https://staking.harmony.one
- Click Sign in ( bottom left ). If you don’t see this, then please zoom out on your browser.
- Click ‘Use an existing address’
- Click ‘Use Harmony One Wallet’
- Click ‘Sign In’ — blue button
- You will now be prompted to choose your Account on the One Wallet.
- Your wallet and the staking page are now linked!! You can confirm the link by click the Portfolio tab on the left. This will show you a summary of your wallet, staked, unstated, rewards etc.
6) Choose your validator
Now its time to choose the lucky validator. Click the validator tab on the left.
Scroll through the list of validators, order by uptimes, returns or simple use the search field to choose a specific validator. I have used my validator for demonstration purposes (direct link: Fortune.ONE ). Click on the validator of your choosing to be taking to their individual page.
You can review some more information about our validator such as Description, Commission, Uptime graphs and stake history. Its important to choose a validator who is socially active and contactable should the need arise. A bit of selfless plug, you can find me on all social platforms ( links below ).
For those unsure how the Commission/Fee % works. The fee comes out of the interest generated. For example if Fortune validator generates you 100 ONE in a week then 5 ONE will go to the validator and 95 ONE to yourself. This is important for the sustainability of nodes validators run (as well as giving even more incentive for us to get you the best rewards possible!). It is also worth noting that after 100 epochs from first election all validators are forced to a minimum of 5%
To stake with a validator you must now click the DELEGATE button (screenshot below). Please do NOT send funds to the validator address. I myself have returned many delegators ONE whom have sent it directly to my wallet.
You will now be prompted to enter the desired amount to stake. I make a general rule of thumb to leave 1 ONE unstaked. Fees are around 0.0001 but I feel it makes sense to always leave enough.
Click Next followed by ‘Confirm and Sign’. This will prompt your wallet to open up.
Enter your password to complete the transaction.
You will now be greeted by the ‘Success’ message. Congratulations you have now staked your ONE.
8) Confirm stake
Click the Portfolio tab at the top left.
This will show you your total ONE, comprised of unstaked, staked, rewards. You will also see your chosen validators under ‘Delegations’.
9) Collect Rewards
Once you have accrued enough rewards to claim ( min 1 ONE ) the ‘Claim Rewards’ button will now be present and clickable.
Click Claim Rewards and confirm the transaction much the same as you did when you staked.
10) Top up your stake
Have your brought some more ONE or claimed some rewards? So long as you have a minium of 100 ONE you can now top up the stake. No need to undelegate first! The process is exactly the same as your first stake. It will then top up your total.
- Rewards will start to accrue on the next epoch after you stake (between 0–24hrs time)
- Unstaking will take 7 epochs to complete before the coins are unlocked.
Telegram Group Chat: https://t.me/fortuneonevalidator