PulseX (PulseSwap) Sacrifice, what to expect and how to prepare

what's up youtube welcome back to the cryptokindness channel my name is jeff and today we are going to talk about this super exciting pulse x sacrifice used to be called pulse swap it actually never used to be called anything that's what we had guessed but now we have an official name from richard hart it is the pulse x decentralized exchange and the sacrifice is coming up really really soon so what i want to do for you today is i want to help you understand what you can expect and how to be best prepared for this upcoming sacrifice now if you're a seasoned crypto investor if you've already done the pulse chain sacrifice if you're pretty well versed in decentralized finance this video is not for you i'm really putting this video together to help people that haven't done anything like this before to help some of the newbies i was a newbie about six months ago it can be pretty confusing and i'm here to help you today so with that being said i've seen some um tweets and whatnot on twitter some stuff on telegram like what can i expect how how am i going to do this i don't even know what to do so that's where i want to help you today so the first thing let's get into is what to expect easiest way to describe that is to actually show you so you can still sacrifice today for pulse chain i don't necessarily recommend it from a financial standpoint we're actually going to dive into that a little bit deeper here in a second but i expect this is this video is based on some assumptions but i expect that the sacrifice for pulse x is going to be very similar to the pulse chain sacrifice so how do i do that let's take a look it's actually pretty straightforward i'm going to go ahead and share my screen here and we're going to pull up the internet and we're going to go right to the pulse chain sacrifice again i'm assuming that the pulse x sacrifice is going to be very similar to this so this is pulse dot info is the website you'll go to that my guess is it's going to be pulse x dot info and you hit connect your wallet it's going to bring up your meta mask which you will need to download in order to do this or some other type of non-custodial wallet this is just a generic account i did for this video as you can see it's called demo i'm connecting it to the website and it brings us back and now we see my public address available i'm going to select the network uh if you're going to die if you're going to um sacrifice like usdt usdc ethereum any of those coins you're going to want to click the ethereum network now this it gives you an address copy that address that is the sacrifice address for the ethereum tokens that you want to sacrifice so this is the address we're going to send our money to simply hit copy go to your meta mask go to send type in that address boom obviously i don't have any money in here so it says insufficient funds but you would put in the asset you want usdc ethereum whatever the amount and then you would hit next it's gonna ask you for some money i want a little bit of money for gas fees you approve that and then you send your money out into oblivion it is a sacrifice there is no guarantee of financial gain from this now some people have said well once i sacrifice my money how will they know where to send it well that answer is pretty straightforward let's go back to meta mask this up here copy to clipboard if you see this 0x 930 blah blah this is your wallet address your public wallet address now i don't know i think there's a way we can there's something called ether scan it's basically a website that shows all of the transactions that happen on the ethereum network you can go to etherscan type in your public address wallet and it'll bring up all the transactions that you've made and there's something called the transaction id and that transaction id if you click on that it'll show this address sent money to this address and that's how the pulsex team will know where the money came from is they'll just look at all the transaction ids they'll see that your wallet sent x amount of dollars and they'll know that they need to send pulsex coins to that wallet that's how it happens i would say it's pretty easy it's not really easy at all but you know to explain it like that it's pretty straightforward so that's what you can expect that's how you do this sacrifice it actually is relatively straightforward now let's get into how to prepare for this launch that's the part that i really want to get into for people that have never done this before so there's going to be two ways to do it there's gonna be an easy way and there's gonna be a difficult-to-shit way i'm joking about it's not too difficult but it definitely is a little bit more tedious the easiest way to do it is one open a generic coinbase account upload some money and then transfer that money to a newly opened metamask wallet on your pc or your phone as i showed here i opened this metamask wallet on my computer simply for the sake of this video and it took like 30 seconds it's not hard to open a metamask wallet now that is the easiest way to do it then you transfer some ethereum metamask always has to have ethereum coins in it i would recommend maybe about 100 bucks because gas fees are pretty expensive um you have to have ethereum in your metamask wallet in order for the transactions to go through and then transfer over whatever other coins you want usdc usdt to this address and then you simply connect it to the sacrifice address once we are made aware of what that is and you sacrifice your coins that's it that's the easiest way to do it now i will stop here and pause i am not a financial advisor i'm just a dude that has done this stuff before and i want to share my knowledge i don't necessarily recommend the easy path to do this and there's a couple reasons why we'll get into that so the not so easy path is a little bit more take some more steps take some more time and the thing i want to highlight in this video is that we don't know when the sacrifice is happening but it is coming up soon you need to be prepared preparation takes time chance favors those who are prepared so spend some time today to be ready for the sacrifice tomorrow so you don't miss out on a golden opportunity it takes time if you don't have money in your coinbase account or you know whatever account it is finance ftx and you need to transfer in fiat money from your bank that takes three to five days if you um have never used a credit card to purchase crypto before and maybe that's how you want to do it for this sacrifice uh i would recommend that you actually do that today because most credit cards won't allow you to buy crypto with them the um transaction will get denied and sometimes you can call your credit card company and let them know what you're doing and they'll approve it oftentimes they'll say nope we don't we don't do that at all you can't do that so don't just assume that on day one of the sacrifice you can go to you know dharma dot io and with cr with a credit card buy some usdc move it over and sacrifice that's a bad assumption if you want to partake in this i would recommend you kind of go through the a dry run of it before the sacrifice day so you're prepared you know what issues you're gonna run into you handle them ahead of time and then that way you can boom get in on day one so what does the difficult way look like difficult way is first of all order yourself a hardware wallet i've got a nano s here i also also have a nano x ledger is another very very reputable hardware wallet um if you're going to be dealing with decentralized finance products and you are doing this with the intention to build long-term wealth get a get a hardware wallet i mean it's really easy to say yeah but jeff i'm just going to take the path of least resistance here i'm going to go path one you told me the easy way and i'll deal with it later that's risky and that's very very myopic that's that's like saying oh i'm not i'm only investing like 500 and what's the big deal that's that's short-sighted that's a three to six months window the goal here is that you're gonna accumulate some coins that in five to six to seven years are going to be worth millions of dollars and you don't want to be playing around with this stuff once there's some substantial value to it because if you screw up with millions then you're really upset if you screw up with hundreds yeah we're not happy about it but we're not talking about stringing ourselves up with the guitar string i don't wish that upon anybody so prepare today for success tomorrow chance favors the prepared so step one order yourself a ledger or a treasure i don't really care which one just order one it's gonna take five to seven days for you to get that while that's being shipped make sure you get your funds in place get your money into coinbase or whatever exchange it is that you're using or if you're going to try using the credit card route through one of the other mechanisms dharma io i understand is one that you can do that with get that in order now so that way once you get your hardware wallet you can follow the instructions i'm not going to go into that there's a tremendous amount of resources youtube especially ledger.com has all through all sort of videos that will walk you through how to set that up how to do your passwords how to do your keys how to secure them and it takes time and you want to do that ahead of time you don't want to be scrambling two days before launch on the launch day because there are some steps involved that you can get hung up on one word of advice i will give you with the hardware wallets is your keys they give you these cards to write down all your your secret passphrase this is your lifeline they give you three of them fill all of them out and put them in geographically separated places keep one in your house safe keep one with your parents if you trust your parents some people don't trust their parents keep them with people you trust your absolute life with because this is it this is this is how you access your money should your hardware wallet get you know damaged disappear or something like that you have to have these keys to open up another one without those keys you're screwed so there is some risk in having a hardware wallet because you are the custodian of the keys now a coinbase wallet you might say to me well jeff i already have a coinbase wallet i don't need to do that i'll just use my coinbase wallet to sacrifice do not do that that is a custodial wallet which means even though it's technically your name coinbase owns it and they own the rights to that wallet it's like when you give your money to the bank it's your money but they've got it you cannot sacrifice from a custodial wallet so if you have a wallet with coinbase ftx binance if you use any of those exchanges you have to pull your coins off you have to get them into a non-custodial wallet like metamask or as i said before more importantly ledger treasure something of this nature so one thing i want to share with you is a mistake i made and it's actually the reason why i decided to do this video for newbies i said that the easiest way to do this is get some money into an exchange send it over to a metamask account and boom you're done path of least resistance well the path of least resistance is usually not the best way to go for one meta mask is what's called a hot wallet which means it's always connected to the internet so if it's downloaded on your phone if it's downloaded on your computer the keys your private keys which secures everything are just sitting on your computer or just sitting on your phone so in the event that somebody hacks your phone or infiltrates your computer they can steal your keys and once they have your keys they can steal your money and we just don't want that so there is risk involved with the path of least resistance the other risk that is involved with that is if you sacrifice from a metamask wallet that is you know just on your computer um then those coins when they get distributed come back to that wallet and that is exposed another problem with that is that oftentimes um when you make a sacrifice you're going to have what's called a genesis wallet a genesis wallet is an original holder of a token anytime there's an original wallet a genesis wallet oftentimes in the future you'll get air drops of other coins as they launch to your wallet so if you want to set this up and just say hey i'm going to do this real quick and then i'll delete it and forget about it and i'll do the ledger thing later you risk losing out on opportunity in the future because you'll have a genesis address that might get air drops in the future and i made that mistake that's why i'm here to talk to you today i did the path of least resistance when it came to the pulse chain sacrifice because i didn't have any time i had a buddy tell me about it on day one and i was like holy crap boom boom boom i did the path of least resistance and now my genesis wallet is a metamask wallet that is um just you know it's just on my computer it's on my phone now granted i've deleted it and i have my keys i know i can access it so by deleting it it's not accessible for somebody to steal but if you made this mistake let's say that you did this um just like me you made a mistake you you sacrifice for pulse chain from a generic metamask wallet there is something you can do to actually migrate that into a ledger real quickly i'm just kind of going to give a sidebar here but we're going to share our screen here we're going to go over this youtube video which of course has been playing for a long time and no longer is the video that i want to show you but if you just type in import metamask wallet to ledger there's a fantastic video i will link this in the description below this dude walks through step by step how you can actually take your metamask wallet your keys and import it into a lantern ledger or a trezor wallet once you have done that the keys are no longer on your computer they're on a hardware device and you are way more secure which is really where we want to be secure is the way to go so moving forward what i would like to see you do again i am not a financial advisor i am just learned from some of my mistakes if you're excited about this pulse chain sacrifice i'm sorry i misspoke if you're excited about this pulse x sacrifice i would highly consider taking some steps in advance to make sure that you're prepared and come day one everything goes smoothly now part of that hear me out i'm going to get a little bit of negative feedback on this for sure but i just want you to consider something part of that is i would consider this is not advice it's just a thought for you to consider i would consider going to the pulse chain setting up your you know your hardware wallet if you decide to do that if you decide to go the path of least resistance really not up to me whichever route you choose if you have not done this before if you've not done a sacrifice if you've not uh transferred money in a decentralized exchange before highly recommend doing a few transactions to practice one great transaction practice would be go to the pulse swap um go to pulse lead we've we just talked about this uh go to pulse dot what is it sorry little pause here as i pulse.info i want you to connect your wallet and then go through the steps that i just showed you connect your wallet and do a small sacrifice like 10 bucks and you're going to pay 30 in fees to do that but a you will walk through the process of making a sacrifice so you'll know what to expect and how to do it when the pulse sacrifice comes out and b as i discussed with you earlier if you do that for this pulse chain you're going to get a lousy rate uh you know you're going to pay like 15 cents per pulse token which is absurd that's not really the point but what you will have is you will have a genesis wallet on the pulse chain at that point and in the future if there's air drops to the genesis wallets of pulse chain you'll get an air drop so not financial advice i cannot reiterate that enough but practice makes perfect if you want to be successful on day one with your pulse sacrifice go through these steps practice maybe consider making a small sacrifice to the uh pulse chain here as i've shown so that way you a know how to do it b you'll get a genesis wallet in the pulse chain and then come sacrifice day for pulse x you won't have any questions you won't have any confusions and most importantly there won't be any surprises that keep you from being able to sacrifice early so that is it for my video today hopefully it was quick and easy um if you have any questions please leave comments below and i'll address them as i see them i am going to link a couple videos here for you the migrating the metamask wallet into a ledger device incredibly important as well as there is a full tutorial uh done by another hexagon that shows you how to do a full walk through on the metamask sacrifice to the pulse lead i'll link that too so you can see a more descriptive way of doing it if that's something you want to try to do so at the end again again guys again not a financial advisor i'm just sharing with you some of the mistakes that i've made so hopefully you don't make them again i've seen questions on uh twitter and other places of what do i expect and how do i prepare and i really just wanted to address those issues with you today if this has been helpful to you please give me a thumbs up please leave a comment let me know if what i can do better in the future if if i kind of blew it whatever we're all still learning here so anyway thanks for your time best of luck out there together we win peace

Channel: Crypto Kindness

Views: 1,921

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Id: CNytmREOy5g

Length: 18min 7sec (1087 seconds)

Published: Sat Dec 18 2021