In May 2020, Reddit administrators announced Moons, an ERC-20 token on Arbitrum Nova, as part of the Community Points initiative. They provide users with a way to get cryptocurrency in exchange for their efforts in the form of a subreddit ownership unit.
Moons are separate from Reddit and cannot be taken away from users once earned by subreddit moderators or administrators. A collection of smart contracts that deal with sales, transfers, distribution/request, and purchase of special subscriptions control the moons.
In this article, we will focus on transferring Reddit assets like Lune or NFT to one of the most popular cryptocurrency wallets today: MetaMask. The whole process is carried out in a few simple steps, so let’s dig into the details.
Transfer Reddit Moons to MetaMask
- Visit https://metamask.io to download the Metamask wallet browser extension.
- your Metamask after purchasing ETH at any fiat-to-crypto gateway (Binance, Uphold, Kucoin).
- To connect your ETH from Mainnet to Arbitrum Nova, go to https://bridge.arbitrum.io/?l2ChainId=4217.
- To convert ETH to MOON, visit one of the decentralized exchanges. Sushiswap is what we recommend.
- Check the swap.
- Include the $MOON token in Metamask.
- The vault address can be found in the Reddit app’s account settings.
- Send tokens to your vault by opening your Metamask.
- The tokens should now be visible in the vault.
Send ETH to
Did you know that all transactions made with the MetaMask wallet must be reported to the IRS (or other tax authorities in the respective countries)? Here is a step-by-step guide on how to report MetaMask trades on your tax sheets.
How to create a Reddit Wallet / Reddit Vault?
To participate in Reddit “Community Points”, you will need to create your own portfolio. This is not difficult; It just takes a few more steps. We recommend starting by creating a Reddit account. If you already have one, great!
Otherwise, go to reddit.com/signup to sign up for free. Once you’re logged into your account, go to the main menu bar and click Account Settings. From there, select Add New Wallet.
Now we recommend that you enter your email address. Then, you will be asked to verify your email address. After doing so, you will see a screen asking you to add a password. Make sure you use something strong because you will put it in every time you access your wallet.
Finally, you will be asked if you want your wallet to be linked to your Reddit profile. Click Yes here. Now, you will be taken to the next step, where you will be prompted to download the Reddit app.
After downloading the app, open it and tap Create a wallet in the upper-right corner. Enter a name for your wallet.
Next, you will be asked what type of cryptocurrency you want to keep in your wallet. You can choose Bitcoin, Ethereum, Litecoin, Ripple, Monero, Dash, Dogecoin, Zcash and many more. For now, we’ll stick to Bitcoin.
After selecting Bitcoin, you will be provided with a QR code to scan. Scan it and you will be taken to a screen where you can enter your wallet information. Enter a username, description, and passphrase (this is the same thing you used to generate your seed phrase). Your wallet will ask you to confirm your username. After doing so, hit Continue.
Next, you will be asked for your email address and a security question. Answer both questions correctly and you’re done. Your wallet will be ready for action!
Frequently Asked Questions (FAQ)
How do I know if MetaMask is connected
Copy and paste the following code snippet into your web browser’s developer console to see if MetaMask is connected to the browser:
How can I connect MetaMask to my phone
Step 1: Download and launch the Metamask app on your smartphone (Android or iOS). Step 2: Tap Get Started. Step 3: Choose Import using the secret recovery phrase. Step 4: The program will ask for permission to collect usage information.
How can I check my portfolio MetaMask
There is no verified MetaMask wallet. The MetaMask wallet is just a program that you download and use, independently and according to your taste. All verification requests related to MetaMask are scams, and we implore you not to click or visit anything sent to you by unknown senders.
MetaMask is more secure than Coinbase
The Coinbase and MetaMask wallet are quite similar in terms of internal functioning and purpose. Moreover, both wallets have proven to be safe and secure as long as the user himself does not make a mistake and allows hackers to compromise his device and the wallets on it.
MetaMask is the best wallet
Yes, MetaMask is one of the best crypto wallets. Most users of the various decentralized applications hosted on the Ethereum ecosystem continue to prefer MetaMask as their preferred wallet.
How do I open MetaMask in Chrome
Step 1: Visit the Extensions section of the Chrome Web Store.
Step 2: Search for MetaMask.
Step 3: Since hackers can try to create copies of MetaMask, check the number of downloads to make sure the original version is installed.
Step 4: Select “Add to Chrome” from the menu.