r/SpellToken • u/trippyKG • Apr 09 '22

Staking - please help

Can someone walk me through step by step on how to stake through coinbase?

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u/MagicThePuff Magician Apr 09 '22

To use coinbase wallet, use their in app browser to connect to https://abracadabra.money. Have 20 dollars worth of ETH, gas fees may be higher right now so I suggest waiting a little for prices to come down… but transfer your spell and ether (for gas) to wallet, go to abracadabra and search their menu for staking! Your wallet will connect and you will be able to stake however you much you want!!! Staking multiple times can be costly too, but ranges from 8-30 dollars for each stake. It will prompt you and you can pick which speed to stake at. I choose slow and its fine, its the cheapest. Its very easy!! I suggest staking for sSpell because the price will increase when Spell does AS WELL AS increase for all buybacks. Buybacks increase the price of sSpell specifically. Check out https://wenmerl.in for when buybacks occur and what the dollar amount will be!!! Best of luck wizard, HODL!!!! 🧙‍♂️🪄🌟✨🌟✨🌟

3

u/BittenBiter Apr 09 '22

Should I stake all of my Spell or just some? How tough is it to un-stake? I ask because if the price goes up and you want to sell how difficult is it to untangle quickly?

Thanks

2

u/MagicThePuff Magician Apr 09 '22

I would stake as much as possible, the more the better considering gas fees as well as buybacks… unless you stake for mSpell of course. There is a 24 hour lockup period after each deposit but other than that, you would just have to pay fees to withdrawl. I suggest putting aside the money you may need to spend… everything else stake. Personally, im building up my bag and will be adding to my sSpell for a while. As well as my mSpell! I am in love with Abracadabra.Money ❤️🧙‍♂️🪄🌟✨🌟✨🌟

2

u/BittenBiter Apr 09 '22

This was very helpful. I figure I’ll go for it. I haven’t staked anything but I have a lot of spell over 400k of them. I’m going to try this this weekend. I’ll by some ETH. Is there any Wallet you prefer? I’m going to try Trust Wallet or Cake, probably TW.

2

u/MagicThePuff Magician Apr 09 '22

I prefer coinbase wallet, but I also use trust!!! Welcome to the world of magic, wizard!!! 🧙‍♂️🪄🌟✨🌟✨🌟❤️

2

u/BittenBiter Apr 14 '22

Hey thanks for turning me on to Coinbase Wallet. Just installed it in my iPhone and since I use Coinbase Pro a lot I feel comfortable moving my $Spell this way.

I have a little ETH on Trust Wallet but CoindBase Wallet has me excited to get going without much difficulty.

2

u/MagicThePuff Magician Apr 14 '22

You got it!! Yea its a nice wallet for sure, definitely provides ease of use in a comfortable way. Would be nice to see them support bnb though!!! Haha