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game:en:cryptoguide

Guides and tutorials for cryptocurrency beginners

Version française | Metaloft wiki | Launch the game

To store and trade cryptocurrencies, you need two tools:

  1. A secure vault to store your cryptos. There are many but here we will use MetaMask.
  2. An exchange platform that will allow you to trade EUR/USD for cryptos or cryptos for other cryptos. There are also several but here we will use BINANCE.

Below you will find how to

At the end of this wiki, you will also find some tutorials that will help you deepen your knowledge of cryptocurrencies.

Welcome to the world of cryptos!
 

Installing the MetaMask extension

MetaMask is an extension for Chrome, FireFox and Edge browsers providing a secure vault to store your cryptocurrencies. This safe is called a wallet.

Go to the MetaMask download page and click the Install MetaMask for… button to install the extension.

Once installed, click on the fox head icon at the top right of your browser or in the extensions menu. A new tab opens with a welcome message, click the blue Start button.

Then you have to choose between importing a wallet or creating a new one. Click Create Wallet.

On the next screen, MetaMask asks you if it can collect data related to the use of the extension. Please note that you are not required to accept this condition to use MetaMask.

Then you need to set the password. It will be needed to log in to your MetaMask account. Save it carefully as you will be forced to restore your wallet if you forget it. Check the Terms of Service box and click the Create button.

Next, MetaMask offers you to watch an educational video on the importance of keeping your recovery phrase secret and never sharing it with anyone. Click Next.

The recovery phrase of your MetaMask wallet is accessible by clicking on the blurred part. Write down the 12 words in order and keep them in a safe place. They will allow you to restore your wallet and therefore your funds if you change your device. Click Next.

Finally, reconstitute your mnemonic phrase by clicking on the words in the correct order and then click on Confirm.

Congratulations, your cryptocurrency wallet is created! See below how to connect it to the BSC blockchain network used by Metaloft.
 
 

Add the BSC network to your wallet

MetaMask is configured by default with the Ethereum network but there are many others. Metaloft uses the BSC network (BNB Smart Chain).

To add the BSC network to your MetaMask, you can proceed in several ways.

The easiest way is to have Metaloft do it for you:

  1. Go to the LOCO exchange page and connect your wallet.
  2. After approving the connection, Metaloft will automatically attempt to connect to the BSC network. If it does not find it, you can click on the Click here to change network button.
  3. If the BSC network has never been added to your wallet before, MetaMask will ask you to authorize the addition of the BSC network: Allow this site to add a network?.
  4. Then you will have to approve the change from the current network to the BSC network: Allow this site to change network?.

Another way to add the BSC network is to do so via the chainlist.org site:

  1. Connect your wallet by clicking the Connect Wallet button at the top right of the page.
  2. In the Search Networks field, enter BSC to bring up the BNB Smart Chain Mainnet window.
  3. Check that the ChainID is equal to 56.
  4. Click Add to Metamask and approve adding the network to your wallet.

You can finally add BSC manually by following this guide:

Connecting MetaMask to BNB Smart Chain.
 
 

Add USDC token to your wallet

Behind Bitcoin, there are several types of cryptocurrencies. Stablecoins are digital currencies backed by reserve asstets such as the US dollar or gold. In order to avoid large value fluctuations in the gaming ecosystem, Metaloft uses USDC.

USDC is a dollar-linked stablecoin. Buying or selling LOCOs for USDC allows the in-game currency to always be worth 0.1 USDC, i.e. $0.1. To trade LOCOs in Metaloft, you must therefore own USDC. This stablecoin is also the most used in the world of cryptocurrencies and will allow you to trade the most common cryptos on exchange platforms.

In order to be able to store USDC in your MetaMask, you must first add this token to the list of tokens known to your wallet. Here are two ways to do it:

The easiest way is to have Metaloft do it for you:

Go to the LOCO exchange page. If your wallet's USDC balance is 0, Metaloft will display the Click here to add USDC token button. Click to open a window in your MetaMask asking you to approve the Add Suggested Tokens operation.

Another way to add the token is to do it manually by following these steps :

  1. Click on the fox head to open your MetaMask.
  2. Click on the 3 vertical dots to open the menu and click on Expand View.
  3. In the window opened in your browser, click on Import tokens.
  4. In the Search field, enter USDC and then select the Tether USD(USDC) token.
  5. Click Next and then Import Tokens.


 
 

Exchange EUR/USD for USDC

After installing MetaMask, adding the BSC network and the USDC token, you can now buy cryptocurrencies and store them in your wallet.

There are many exchange platforms that allow you to exchange your EUR/USD for cryptos. In this tutorial, we are going to use Binance for its simplicity and versatility. Binance claims to be the largest cryptocurrency exchange in the world.

This tutorial will guide you through the following 4 steps:

  • A. Creating Your Binance Account.
  • B. Transfer EUR/USD to your Binance Wallet.
  • C. Exchange your EUR/USD for BNB and USDC.
  • D. Transfer your coins from your Binance wallet to your MetaMask wallet.

A. Creating Your Binance Account

Go to this page to create your Binance account. This referral link will allow you to obtain reductions on your operational fees. It will also give you the certainty of being on the right site; i.e. not on a phishing site copying Binance to trick the customer.

The registration process will ask you to validate your email address, your telephone number and finally your identity. Like any other traditional banking organization, an exchange platform is an organization subject to state regulation rules. As such, it must apply the KYC Know Your Customer procedure, requiring the customer to prove his identity. You will be asked during this process to provide a picture of an identity document as well as a selfie. These requests are completely normal. They are even a guarantee of security and legitimacy of the platform.

B. Transferring EUR/USD to your Binance Wallet

Once logged into your Binance account, click Buy Crypto in the top left menu, then Bank Deposit. In the same menu, you can also buy cryptos directly with a debit/credit card.

On the Deposit Fiat page (currencies of the EUR or USD type are called FIAT currency in the crypto community), paying with a card generates a 1.8% fee. Depositing EUR or USD by bank transfer costs only 1 EUR in fees regardless of the amount transferred. Depending on the issuing bank, the transfer can take place the same day or up to two days later.

C. Exchange your FIAT for BNB and USDC

The different blockchain networks such as Ethereum, BSC or Solana, each have their own governance token used to pay transaction fees on their network. To use the BSC (BNB Smart Chain) network, it is necessary to have BNB in ​​your MetaMask wallet. Performing a transaction on the network will consume approximately 0.0005 BNB (+/-$0.2). It is not a lot but if you do not have a minimum of BNB, you will not be able to carry out any transaction.

To exchange your Fiat currency for BNB, click on Buy cryptos in the menu at the top left, then on Cash balance. Enter the amount in EUR or USD and choose to receive BNB. Placing the equivalent of a few USD in BNB on your MetaMask will be enough to carry out dozens of transactions.

Then proceed in the same way to buy USDC.

Once both trades are complete, your purchased BNB and USDC will be in your Binance wallet called SPOT. To view them, click on Wallet in the menu at the top right, then on Fiat and Spot. Optionally, click on Hide small balances to display only the cryptos you hold.

D. Transfer your cryptos from your Binance wallet to your MetaMask wallet

Now that you have BNB and USDC on your Binance wallet, you can transfer them to your MetaMask.

  • Click Wallet in the top right menu, then Fiat and Spot to view your coins.
  • On the line showing your BNB, click Withdraw.
  • Click on the fox head icon at the top right of your browser to open your MetaMask and click on your address to copy it to the clipboard (your MetaMask address starts with 0x…).
  • On the Binance withdrawal page, paste your address in the Address field.
  • Click on the Network field and select BSC BNB Smart Chain (BEP20).
  • Enter the amount of BNB to transfer and click Withdraw.
  • Follow the instructions, verify the information and confirm the transaction.

These transfers usually complete within a few minutes, but can sometimes take a few hours depending on network congestion. You can follow the progress of the transaction at the bottom of this same withdrawals page. Then verify that the amount was successfully deposited to your MetaMask wallet.

Then proceed in the same way to transfer your USDC.
 
 

Exchanging your USDC for LOCOs

Before to be able to exchange USDC against LOCOs or LOCOs against USDC, you have to complete the following preparation :

Now that your MetaMask wallet contains USDC, you can exchange some for LOCOs, the virtual currency of the Metaloft game.

Go to the LOCO exchange page. The program will automatically ask you to connect your MetaMask. If necessary, the program will offer you to

  1. add the BSC network or change the current network to the BSC,
  2. add the USDC token,
  3. buy USDC if your balance is at zero.

If your balance in USDC or LOCO is positive, you can mention the amount to send and in which direction you want to exchange these currencies. The amount you will receive is displayed automatically respecting the proportion 1 LOCO = 0.1 USDC.

Click on Exchange to initiate the transaction. If you send USDC to buy LOCO, you will need to approve the transaction in your MetaMask. You can follow the progress of the transaction. Your transaction history is available at the bottom of the page.
 
 
  Congratulations! You now have LOCOs and you can start betting on your pigeons.
 
 
 

Tutorials

This tutorial helped you create and configure your MetaMask wallet and trade your first cryptocurrencies through your Binance account.

Below is a list of tutorials that will help you deepen your knowledge of cryptocurrencies.


 


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game/en/cryptoguide.txt · Dernière modification: 2024/02/25 09:17 de wadmin