I sometimes receive messages of people asking me either how to earn Moons or how to cash out their Moons.
This post will explain how all of that works and then I'll provide a step-by-step instruction.
For those that are new: you earn Moons by engaging on r/CryptoCurrency - the amount you earn each month is based on the upvotes you'll get in that period.
Selling Moons Explained
Here are the most important things you need to understand in order to avoid confusion trying to cash out:
- Reddit gave you a seed phrase (12 words) for your Vault, where the Moons are kept
- You can access this address by importing the seed phrase in a wallet such as MetaMask
- You need to switch to the Arbitrum Nova chain to access your Moons
- If you have a MEXC account, you can send them there and sell them for whatever you want
- Otherwise, you'll need to swap your Moons to ETH on a DEX such as SushiSwap
- Then, you need to bridge it from Arbitrum Nova to the network your CEX allows deposits from
- Then, deposit the ETH to your favorite centralized exchange and sell the ETH for your favorite FIAT
Yes, it has a few steps, but once you understand what's going on under the hood, the process is much clearer.
I've provided sufficient keywords in the list so that you can google how to do each step.
But if you want a step-by-step instruction, here's a post I prepared a while ago:
How to Cash Out Your Moons (Selling MOONs Simply Explained for N00bs)
Note: it's not a link to some blog, it's a Reddit post on this sub! :)
Happy Moon farming!
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