How to get ROSE coins? Introduction to several ways to get ROSE coins

Owners of ROSE tokens can stake them on the Oasis Network, participate in airdrops, provide liquidity on decentralized exchanges, mine ROSE on the network, or purchase them on cryptocurrency exchanges.

Nov 06, 2024 at 04:56 pm

How to Acquire ROSE Coins: A Comprehensive Guide

1. Staking on the Oasis Network

Staking is the process of locking up ROSE tokens on the Oasis Network to support its security and earn rewards. The following steps are involved:

• Create a wallet: Use a compatible wallet like Oasis Core Wallet or Ledger Nano S.
• Acquire ROSE tokens: Purchase ROSE on crypto exchanges like Binance or Coinbase.
• Delegate to a validator: Choose a reputable validator and delegate your ROSE tokens to support their stake.
• Earn rewards: Over time, you'll receive a percentage of transaction fees as staking rewards.

2. Participating in Airdrops

Oasis Network has conducted several airdrop campaigns in the past. Airdrops are free distributions of tokens to promote a project's adoption. To qualify for airdrops, follow these steps:

• Monitor announcements: Stay updated with Oasis' official channels for airdrop announcements.
• Meet requirements: Each airdrop may have specific eligibility criteria, such as holding a certain amount of another cryptocurrency or joining a Telegram group.
• Claim tokens: Once you meet the requirements, follow the instructions provided to claim your free ROSE tokens.

3. Liquidity Providing on Decentralized Exchanges

Liquidity providers (LPs) deposit both ROSE and another asset into liquidity pools on decentralized exchanges like Uniswap or SushiSwap. By providing liquidity, LPs earn trading fees:

• Connect wallet: Connect your crypto wallet to the decentralized exchange.
• Create a liquidity pool: Pair ROSE with another asset and create a liquidity pool.
• Deposit assets: Deposit the required amount of ROSE and the other asset into the pool.
• Earn fees: As traders exchange assets in the pool, liquidity providers earn a percentage of the trading fees.

4. Mining ROSE on the Oasis Network

ROSE tokens can also be mined using specialized hardware known as ASICs. This method requires a significant investment in equipment and electricity costs.

• Acquire ASIC miner: Purchase an ASIC miner specifically designed for the ROSE mining algorithm.
• Set up infrastructure: Install the miner and configure it to connect to the Oasis Network.
• Mine blocks: The miner will solve cryptographic puzzles to validate blocks on the network and earn ROSE tokens.

5. Purchasing on Cryptocurrency Exchanges

The most straightforward way to acquire ROSE coins is to purchase them on cryptocurrency exchanges. Here are the steps involved:

• Create an account: Sign up for an account on a reputable exchange like Binance or Coinbase.
• Fund your account: Deposit your preferred fiat currency or cryptocurrency into your exchange account.
• Place an order: Find the ROSE/USD or ROSE/BTC trading pair and place an order to buy the desired amount of ROSE coins.
• Complete the transaction: Your order will be executed, and the acquired ROSE coins will be deposited into your exchange wallet.