How to Buy & Sell r/cryptocurrency Moons on RCPSwap?

Moons are ERC-20 tokens that are rewarded to Reddit users for their contributions to the r/CryptoCurrency subreddit. Reddit initially launched moons on Rinkeby testnet with the plan to migrate over to the Ethereum Mainnet. However, recently, Reddit has announced that Moons will be migrated to Arbitrum Nova, i.e., a Layer-2 scaling solution built on top of the Ethereum Mainnet. So, many Reddit users are now confused about how they can buy and sell their Moons. This article will explain how to buy and sell moons step-by-step.

Also Read: How to get ETH in Reddit Vault?

How to Buy r/cryptocurrency Moons on RCPSwap?

In this section, we will learn how to buy r/cryptocurrency Moons using RCPSwap (formerly known as MoonSwap). It is a 1:1 deployment of Uniswap V2 on the Arbitrum Nova with no additional changes. So firstly, we will need ETH on Arbitrum Nova Network from Ethereum Mainnet, and then we will use RCPSwap.

• Step 1: Go to bridge.arbitrum.io. We will see a Welcome screen. Then, click on Agree to Terms.

Welcome

• Step 2: Click on the Connect Wallet button.

Connect Wallet

• Step 3: We will see three wallet options, i.e., MetaMask, Wallet Connect, Coinbase Wallet, and Torus. In this article, we will be selecting and using MetaMask Wallet as it is the most widely used and one of the most popular wallets.

Wallet Options

• Step 4: Click on MetaMask, and Our Wallet is Connected.

Wallet Connected

• Step 5: Now, Toggle the receiving network from Arbitrum One to Arbitrum Nova.

Arbitrum One to Arbitrum Nova

• Step 6: Now, the user can write the amount of ETH they want to be bridged to Arbitrum Nova. We will see a gas estimate on the Right Hand Side. Now, Click on Move Funds to Arbitrum Nova. We will see a MetaMask popup notification with an estimated gas fee. We have to check the gas fees and Click on Confirm. Once approved, we have to enter the amount of USDC we want to bridge. It will take around 10-90 minutes (depending on the gas fees user has chosen) for our funds to be bridged on Arbitrum Nova.

Bridge ETH

• Step 7: Also, we need to add the Arbitrum Nova network to our MetaMask Wallet. Go to chainlist.org/chain/42170 and Click on Connect Wallet.

Connect Wallet

• Step 8: Click on the Approve button.

Approve

• Step 9: Click on the Switch Network button. This command will switch the network from the existing mainnet/test network to Arbitrum Nova Network.

Switch Network

• Step 10: Now, Go to the RCPSwap interface. Then, click the Connect Wallet option in the upper right corner and log in with the wallet.

Connect Wallet

• Step 11: We will see five wallet options, i.e., MetaMask, WalletConnect, Fortmatic, Portis, and Coinbase Wallet. This article will use MetaMask Wallet, one of the most widely used crypto wallets. Also, users should change their network from Ethereum Mainnet to Arbitrum Nova. We have already done this in the above steps of our article.

Wallet Options

• Step 12: Now, Click on Select a token and Choose MOON.

Choose MOON

• Step 13: Enter the amount and press the swap button. A transaction preview window will open, and we need to confirm the transaction on our MetaMask wallet. Our tokens will then appear in our MetaMask wallet. We can track its progress by copying and entering the transaction ID into Arbitrum Nova Explorer.

Swap How to Sell r/cryptocurrency Moons on RCPSwap?

In this section, we will learn how to sell r/cryptocurrency Moons using RCPSwap.

• Step 1: Open the Reddit Mobile App. Click on the profile picture in the upper left corner. We will see an option of Reddit Vault. Click on Vault.

Reddit Mobile App

• Step 2: Now, Click on three dots on the right-hand side where the Vault is written.

Vault

• Step 3: We can see our public address as shown below. So, here users have to copy their recovery phrase & install a new MetaMask wallet using that recovery phrase. If new MetaMask users have a problem, they can follow Part 1 of this guide. As a result, Reddit users will have their Moon tokens in their respective MetaMask Wallet. We are doing this mainly because Reddit Vault has no option to transfer Moon tokens directly to any other crypto wallet. Also, users will have to import the Moon token into their MetaMask account. Here is the contract address. Lastly, they should switch to Arbitrum Nova from Ethereum Mainnet. News users can see how to do this from Step 7 to Step 9 in Part 1 (Buy section) of this article.

Recovery Phrase

• Step 4: Now, Go to the RCPSwap interface. Then, click the Connect Wallet option in the upper right corner and log in with the wallet.

Connect Wallet

• Step 5: We will see five wallet options, i.e., MetaMask, WalletConnect, Fortmatic, Portis, and Coinbase Wallet. In this article, we will use MetaMask Wallet, one of the most widely used crypto wallets. Also, users should change their network from Ethereum Mainnet to Arbitrum Nova. We have already done this in the above steps of our article.

Wallet Options

• Step 6: Now, Click on Select a token and Choose ETH or any other token token user wishes to trade his Moon with.

Choose MOON

• Step 7: Enter the amount and press the swap button. A transaction preview window will open, and we need to confirm the transaction on our MetaMask wallet. Our tokens will then appear in our MetaMask wallet. We can track its progress by copying and entering the transaction ID into Arbitrum Nova Explorer.

Swap

Users can transfer their ETH to a centralized wallet to cash out their crypto in USD or their native currencies.

Conclusion

r/cryptocurrency Moons are relatively new tokens. Currently, these tokens are unavailable in many popular crypto exchanges due to low liquidity and volume issues. However, as their popularity grows, users will be able to buy and sell their Moons in many other popular Decentralized and Centralized Exchanges.

Also, Read

• Decommissioned Power Plant in Armenia to Host Crypto Mining Farms
• What is the Relative Strength Index or RSI?
• MetaMask Has a Strategy in Place to Aid Crypto Scam Victims
• 5 Best Free On-chain Indicators (Blockchain)