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How to Park Minexcoin in MinexBank and Collect Daily or Monthly Interest

Updated on March 7, 2018

In this article I will explain how to purchase MinexCoin from a Cryptocurrency exchange, How to transfer it to your own wallet on your PC, and finally how to link (Park) that wallet to the MinexBank so that you can earn more coin. Choose your own schedule, Daily, Weekly, Monthly, Yearly!

Why would you want to buy MinexCoin?

According to Harvard Business Review, "BlockChain" technology will be the most 'Disruptive' technology over the next decade! That's a bold statement, but one many people are starting to agree with. If you haven't already, I highly recommend "CryptoAssets" by Jack Tater and Chris Burniske. The book is honest and well written, and will give you a solid foundation as to what exactly "blockchain" is, and why people are getting so excited about it.

So, assuming you are on board with the Blockchain revolution (or at the very least like making money), why should you choose MinexCoin? Because once MNX is in your wallet (on your own PC), you can attach (called 'Parking' it) it to the MinexBank and earn interest. Choose Daily, Weekly, Monthly, or Annually. For this article I am choosing to "Park" my coin for a month and earn 13.5 percent more MNX once the cycle has ended..

Step One: Buy Minexcoin (MNX) from Livecoin.net or CoinExchange

The first thing you'll need to do is get ahold of some Bitcoin (BTC) or Ethereum (ETH). If you have never purchased cryptocurrency before, buying some is super easy on "coinbase", an app that can run on your phone and\or PC.

Tip! -- Don't be intimidated by the price of Bitcoin. Using Coinbase, you can simply choose to purchase $5, $10, or $20 worth of bitcoin! In fact, I highly recommend making very small purchases until you get the hang of things!

Now assuming you have some BTC or ETH to transfer:

  1. Log into Livecoin or CoinExchange
  2. Select "Deposit" for either BTC or ETH
  3. Copy the address that is given for that currency.
  4. Send the currency from coinbase to your account in the exchange using the little send icon, by either typing the livecoin or coinexchange address in or by using a QR code.
  5. Wait a few minutes while the currency is being transferred via the blockchain.
  6. Once the funds are in your exchange account, Go to the "Exchange" page.
  7. Select BTC (or ETH) to MNX
  8. Choose the amount of coin to purchase.
  9. Once you have your newly purchased MNX in your online exchange wallet, you are ready to send to your own wallet on your PC, but first we need to install it!


Livecoin.net (make sure you have the URL correct)
Livecoin.net (make sure you have the URL correct) | Source

Step Two: Download and Install the MinexCoin Wallet

1. In your web browser, go to MinexCoin.com

2. Scroll to the bottom of the page and locate the "MNX" wallet section

3. Click on your OS, for example "Windows"

4. Once the download has completed, uzip the folder

5. Click on the .exe with the blue colored icon

6. Once installed, let the wallet catch up to the blockchain, it should only take a few minutes and is a one time process.



Source

Step Three: Transfer your BTC or ETH from your Exchange account to your PC Wallet

1. Open your PC Wallet and select "Receive".

2. Under 'label', rename this address MinexBank. (it can be called anything you like, I added this step to avoid confusion later).

3. Select the amount of coin to transfer, for example 1.5 MNX etc...

4. (You can type a 'message' to help you remember the transaction, but its not necessary).

5. Click "Request Payment" and copy the new address given from your PC wallet.

6. Copy that address to your clipboard.

7. Log in to your online exchange account

8. Go to 'funds' or 'balances' and locate MNX.

8. Select "Withdraw" from your MNX account balance.

9. Select the amount of coin (for example something like 1.5)

10. Paste your address from your PC wallet (step 6) into the "MNX" address field

11. Wait just a few minutes, and your new crypto will be in your PC wallet!


Example of MNX withdraw (transfer) to wallet
Example of MNX withdraw (transfer) to wallet | Source

Step Four: Sign up at MinexBank and Get Paid

Now the fun part (though all of it is fun once you get into it)!

1. Browse to MinexBank.com in your web browser

2. Choose "Sign Up"

3. When prompted for 'address', use the "receive address" you called "Minex Bank" a while ago (the address you used to transfer to your wallet from the online exchange).

4. Choose a strong password

5. Click 'Sign Up'

6. Next you'll be prompted to 'sign message'. To do so , in your wallet , go to "File" --> then 'Sign Message'.

7. *** in the address field, use the same adress you have been using for the transfer and the registration.

8. In the open tect area, type 'minexbank' without the quotes.

9. Click the 'sign message' button

10. Copy the newly created (and very very long) confirmation address and paste it where it says "Put your signature in the field below" and click 'confirm'.

That's IT!

11. Once logged in you'll see your currency as 'available'. Whats really cool? The MNX is still in your wallet on your own pc (so No transfer fees etc).

12. Now comes the fun part , choose your (Daily, Monthly etc) schedule and Park your coin!

Note -- Once you do this, it gets easy, AND, you can use more than one "receive address' to 'Park' your coin at MinexBank. The key in the beginning is to use the same address you used to send money to your desktop wallet, or, you may sign in and not see any funds available.

Give it a shot and please leave me a comment if you get stuck or have any questions! -- Jeff

Source

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    • howlermunkey profile image
      Author

      Jeff Boettner 6 weeks ago from Tampa, FL

      Hi Larry, thx and yep, I especially like this crypto because you can see real returns now. If you had like 10k parked, you could sell your ten percent gains every month and pay rent...(or of course your mortgage)

    • Larry Rankin profile image

      Larry Rankin 7 weeks ago from Oklahoma

      Interesting ideas.

    working