Tutorial to withdraw BTC from COINKIT via Lightning Network Invoice

What are some of the Lightning Network’s use cases?

Twitter allows users to send and receive Bitcoin “tips” via the Lightning Network. Via a Lightning Network-compatible payments app called Strike, many of Twitter’s 360 million monthly active users can send Bitcoin payments to other Twitter accounts instantly and for free. (Twitter isn’t actually the first creator-driven social platform to incorporate the Lightning Network — Substack has allowed BTC payments since late August.)

El Salvador became the first nation to make Bitcoin legal tender — in part because of the the desire to save Salvadorans some $400 million annually in money transfer fees. The government-created wallet, Chivo, is Lightning-compatible and designed to enable seamless cross-border payments. As of October, Chivo had consistently been one of the most-downloaded apps in El Salvador.

A peer-to-peer Bitcoin exchange called Paxful, which processes millions of dollars worth of Bitcoin transactions in emerging markets and claims to have 1.5 million users in Africa alone, also recently announced it will enable Lightning payments. This integration could enable fast and cheap Bitcoin payments for millions of users.

 

How can you get started with the Lightning Network?

If you want to make transactions using the Lightning Network, you’ll need to send some BTC (for instance from your Coinbase account) to a Lightning-compatible wallet. There are dozens to choose from. Popular options include both “custodial” and “non-custodial” wallets. Here’s the difference:

• Custodial wallets: Options include Strike, Blue Wallet, and Wallet of Satoshi. These tend to be good for beginners, because they simplify the sending and receiving crypto by managing your private keys. If, for instance, you lose your password, you’ll be able to reset it.  
• Non-custodial wallets: Options include Muun, Breez, Phoenix, and Zap. These wallets are user-controlled and popular with more experienced traders — nobody but you has your private keys. If you lose or damage your wallet or forget your password, you could lose access to your funds. So make sure you learn how to back up or restore whichever wallet you choose.

I will use Muun wallet for this example:

1.After you downloaded, installed and created your MUUN wallet ( DON'T FORGET TO BACK UP YOUR WALLET ), you will need to create an invoice of 10 000 SATOSHI or the amount you want to withdraw:

Choose “Lighthing” and add the Amount.

After that press “COPY”.

Now you have your invoice 😊

2.Next step is to go into Coinkit direct message on Twitter

 A.First command to enter is : /changecoin BTC

This will select BTC as your coin that you want to withdraw or deposit

B.Second command will be the withdraw command : /withdraw <invoice> <amount>

Replace <invoice> with your invoice that you created earlier in MUUN wallet and <amount> with the amount that you desired to withdraw.

In our case the command for withdrawal will look like this :

/withdraw <lnbc100u1pjpsazrpp58eqhvrlu09f4667x97s66adjem4udg8nwarqnfj3ypacqv88cwnqdqqcqzzgxqyz5vqrzjqwnvuc0u4txn35cafc7w94gxvq5p3cu9dd95f7hlrh0fvs46wpvhdeaec35jjhxhr5qqqqryqqqqthqqpyrzjqw8c7yfutqqy3kz8662fxutjvef7q2ujsxtt45csu0k688lkzu3ldeaec35jjhxhr5qqqqryqqqqthqqpysp58fm9eldwvj4hqjxdm6rz5agavl94vksumfd82rcqf87wk02k6z8s9qypqsqvehvj37hrfammp7erd2qs2c4fy0jpyuzxpfgqzgl6z26lpnew2kh6af3s67ra6rnewkn8khh23egf2mxg38jj2uuq7u8jtgfnzcpjqsqjchkhh> <10000>

 

To learn more about COINKIT please visit wiki.coinkit.de

Happy Lighthing !!!

 

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How to Stake Hydra (HYDRA) - Tutorial

Everything you need to know about Staking HYDRA.

You can either stake on exchange pools (such as Kucoin) or set up your own node.

Supported operating systems are Windows, macOS and Linux. You can also use your Raspberry Pi or stake on a VPS.

Get ready to enjoy more than a 100% APY reward rate based off current parameters! Make sure to stay up to date with inflation and total staked amount as this can affect the reward rate.

What is HYDRA Staking?

HYDRA is a proof of stake blockchain network. Staking is a critical activity for the maintenance of the blockchain. The more nodes are online, the better it is for the health of the chain, as it increases redundancy and at the same time strengthens the protective shield against attacks.

Some advantages of Staking HYDRA Include:

Stake on Exchange Pools (such as Kucoin)

If you are not a Kucoin user you must register first here and after that, you can Stake HYDRA with their custodial earn service Pool-X.

Setup your own Node

For further resources on setting up your own node please visit this documentation portal.

Prerequisites

For starters, you need to own HYDRA. You can buy these from KuCoin or other supported exchanges.

Next, you should make sure to download and become familiar with the Hydra Wallet.

Lastly, you’ll want to be aware of all the risks associated with staking HYDRA.

How to Stake HYDRA

Step 1

First, get the Hydra Wallet by downloading it here.

Always check for the latest version.

Step 2

Encrypting the wallet

Let's encrypt our wallet and set a password for it. It is important to set a very secure password and store it somewhere extremely safe such as writing it down on a piece of paper and placed in a secure location.

Begin by starting up the HYDRA wallet from the start menu shortcut. Click on ‘Settings’ at the top, and then select ‘Encrypt wallet’.

Enter your password twice to confirm it, making sure it is the difficult password to guess and you have a way to remember it, then click ‘OK’.

You will be prompted to make sure you have noted your passphrase and to verify that you wish to encrypt. Click yes when you are ready to proceed.

The software will take a few moments to encrypt the wallet and it will then alert you that in order to complete the process it must close the application. Click ‘OK’ to close and complete the process.

We will now reopen the HYDRA wallet software to start up the wallet in encrypted mode. From now on your password will be required for performing wallet functions such as enabling staking, sending out funds, or importing/exporting private keys.

Step 3

Importing the private key

Once we have re-initialized the HYDRA wallet we can import our private key(s) — This is the key that you may have created previously using the Web wallet method If you wish to start fresh instead and use one of the addresses automatically generated by default in the HYDRA wallet you can skip to Step 4.

Navigate to ‘Help’ above and click ‘Information window’.Ensure in the new window that opens that ‘Console’ above is selected.

From here we will be importing our private key. Firstly we’ll need to unlock the wallet by entering our passphrase. The command to unlock the wallet from the console for a duration of three minutes is:

walletpassphrase “yourpassphrase” 180

You should see a response that displays ‘null’ which indicates that your password has been accepted. You now have three minutes to import your private key before it locks again. If you wish to extend the time that the wallet is unlocked you can increment the time in seconds by setting 180 to a higher number.

The command to import your private key is:

importprivkey “yourprivatekey”

After entering your key and pressing enter, The wallet will rescan. You can confirm that your key has been successfully imported with another ‘null’ message. You may now close this console window.

Step 4

Confirm your address

Navigate to the ‘Recieve’ tab above and click ‘CHANGE DEFAULT ADDRESS’ to confirm that your new imported address is displayed. It should match the address that you have created if you imported it from the Webwallet. You can select your address and then click the button that says ‘Choose’.

Step 5

Backing up our wallet

We will now backup our encrypted wallet. Click ‘File’ above and then ‘Backup wallet’:

You can now save the wallet.dat

Be sure to store your wallet in a secure location such as an encrypted usb flash drive.

Step 6

Adding Funds

If you have not added funds to your wallet you can now add them safely by sending HYDRA coins and LOC tokens to the address belonging to the private key. This will be the address that you will use when withdrawing funds from the exchange when receiving funds from anywhere else. This can also be the address that you can use to register for airdrops.

Step 7

Enable Staking

The final step after adding HYDRA to our wallet is to navigate to the ‘Stake’ tab and ensure the switch is to the right side to enable staking.

We will need to activate staking and enter our password each time we start the software. To ensure full staking rewards please make sure that the wallet is online and running — otherwise, you could miss out on staking rewards. Once staking is working and you have mature coins, the lightning in the ‘shield’ icon will turn white. You can hover your mouse over the ‘shield’ to see your Network weight and time expected to earn rewards.

Good luck! If you wish you can view instructions HERE for adding the LOC Token contract address in order to see your Token balances. Remember to create a backup after importing Token contracts in order to see them after a restore.

Conclusion

Staking HYDRA natively requires a few extra steps that might not be as easy for certain users to grasp. The great thing about Hydra is the team has partnered with KuCoin to make staking easy for all users. One of the best parts of Staking HYDRA is that there is added security when encrypting the desktop wallet. Some drawbacks are that users may find native staking a bit too complex for their entry point. The team has designed staking incentives to benefit the stakers which can be a good thing for the community, avoiding dumps. Keep up to date with the Hydra block rewards as APY is affected by this and total supply staked, follow along in the Staking Rewards Hydra Calculator page to estimate your staking rewards!

• Hydra
• Airdrop
• Stacking
• Kucoin

How to Get the Hydra Airdrop and Start Staking for 100% + APY

The team behind LockTrip recently launched the Hydra blockchain, along with an amazing airdrop opportunity for holders of LOC (the LockTrip token). In order to receive the full airdrop over 50 weeks, there are certain requirements. Make sure you read the instructions carefully (detailed requirement info here).

Before you begin

I strongly recommend signing up for LockTrip. LockTrip is a travel marketplace offering up to 60% savings off hotel accommodation, created by the makers of the HYDRA chain. By signing up and booking hotels there, you are supporting the Hydra Chain and LockTrip, since 3% of every booking’s value is used to buy and burn the LOC token, and every transaction uses HYDRA! You can also become an affiliate and earn a lifetime 3% commission for all of your referrals’ bookings!

Step 1 — Get some LOC

If you already have some LOC on the Ethereum blockchain (ERC20 LOC), you need to swap it before continuing. Follow these instructions to perform the swap. You can track the progress of your swap here. Once you have completed the swap, go to Step 3.

If you already have some HYDRA (HRC) LOC that you bought recently, you don’t need to perform the swap. If it’s in your own wallet, go to Step 3. If it’s on an exchange, go to Step 2.

If you don’t yet have any LOC, head to Kucoin to get some! It’s also available on Hitbtc or bitcoin.com. All LOC on exchanges is HYDRA (HRC) LOC, so can be withdrawn directly to your HYDRA wallet (Step 2).

Step 2 — Get a HYDRA Wallet

You cannot participate in the HYDRA airdrop with your LOC on an exchange. You must withdraw it to your own HYDRA wallet (send your LOC to your HYDRA receive address). There are two options for storing your LOC in a HYDRA wallet: the web wallet or the installable wallet. The main difference between the two is the installable wallet can be used to stake your HYDRA once received. The web wallet cannot be used for staking.

Step 3 — Complete KYC

The law under which LockTrip operates requires that you complete KYC in order to receive the HYDRA airdrop. Unfortunately there are some countries (including the USA) which are prohibited. You can complete KYC here. You will need to enter your HYDRA wallet address that contains your LOC from Step 1 / 2. Note that driver’s licenses are not a valid form of ID. You will need a passport or national ID card. You can check the progress of your KYC here, under “KYC Status”.

Once you have completed steps 1~3, all you have to do is wait for your HYDRA to arrive!

PLEASE NOTE: Now that the airdrop has begun, any new LOC additions and new KYC submissions will enter a four-week “cool down” period. You will begin receiving the HYDRA airdrop after the cool-down period (for those new LOC).

Step 4 — Stake Your HYDRA (Optional)

Staking is not required to receive the airdrop, however, it’s a great way to further capitalize on it. Using a raspberry pi is a great way to do this, and it’s actually much simpler than setting up AWS. In order to stake, you must install the staking wallet on your computer or on a hosted server, such as AWS. If you are staking on your own computer, it must be left on 24/7.

It’s also possible to stake on Kucoin’s pool-x staking pool. A regular payout is guaranteed, however, the APY is lower than staking yourself. In addition, if you send more than a certain % of your airdropped HYDRA to pool-x to stake, you will disqualify yourself from the remaining HYDRA airdrops. The amount of HYDRA you must keep in your wallet each week is shown in the distribution sheet‘s 5th column (“Week xx Minimum HYDRA Balance”).

Step 5 — Sign up for LockTrip

While you’re here, I strongly recommend signing up for LockTrip! LockTrip is a travel marketplace offering up to 60% savings off hotel accommodation, created by the makers of the HYDRA chain. If you refer people to LockTrip, you will receive 3% of their future booking payments, forever!. LockTrip is also the first project to utilize the HYDRA blockchain.

www.locktrips.com

www.hydrachain.org