How to activate account as a noobie?


#1

Hi Guys,

I am new to tezos community. I never held any tezos before or participated in ICO. I wanted to get some tezos and setup my own baker. I see that I need activation codes for the accounts that I wanna use and transfer funds to, but since I dont have any activation code how can I get one? I tried KYC verification but it can’t find my public key as I wast in ICO. Whats the options for late comers? Would it work if I simple buy some tezos from exchange and send it to my new address?

Much appreciated your help.

Thank you,

Kazi I Ahmed


#2

Welcome. I’m not exactly an expert but since no one else has jumped in to help…as you found out, the KYC/AML and activation code was all for ICO investors. You will need to purchase XTZ on an exchange and then move it to your chosen wallet.

You need to decide for yourself, but just a heads up…there is a significant difference in quality of XTZ exchanges. And a pretty large difference in pricing. In addition, XTZ has just had a nice bounce. So do some research and maybe average in your purchases in case XTZ pulls back. Just my opinion. Enjoy the crypto journey!


#3

@TAT thanks a lot for chiming in. Do you have any experience moving around XTZ back and forth from any particular exchange on reasonable price without any severe delay or tech difficulties or anything like some other coins IOTA, XLM still has? Just being little extra cautions since never dealt with tezzis before.

Another side question, do you know to run a baker if I have to deposit EXACTLY 512XTZ + 64 XTZ to bake and endorse on the baker account or as long as the account has bare minimum it shouldn’t matter?


#4

I bought the ICO.
Then when it descended back down towards ICO price I bought a bit more off gatecoin. But as I advised, be careful. gatecoin is currently showing no activity and a purchase price of >US$2. Another great example of why not to keep crypto on an exchange.

You can delegate any amount. If you want to self bake, you need 10,000 XTZ. Delegating is relatively easy. Check out the YouTube videos. Same caution, do some research on the dozens of delegation service providers. Crypto free enterprise and entrepreneurship can also be called The Wild, Wild West !!


#5

I bought some BTC and KIN on hitBTC.com
It has been a good exchange.
I just noticed they offer XTZ paired with BTC, ETH and USDT.
That must be new or I have been asleep at the switch.
Against USDT hitBTC’s current price is 43 cents.


#6

:laughing: I like you enthusiasm…me on the same boat… I don’t wanna self bake my fund rather wanna run a delegation service for others. Could you please shed some light on the hows much recruit deposit I need to have in that case thats still kinda grey to me. Is it just 512 + 64 xtz per block ?


#7

That is all above my pay grade.
I think your numbers are correct for the deposit (bond).
But ask someone who knows this stuff.


#8

All you need to run your own node is to follow instructions :

I have tried it and it works.

Cheers


#9

@TezLab thanks that was helpful, but I wanna run it as service for others to delegate. I dont wanna bake just for myself. the link doesn’t talk about how to setup fee % and capacity all that. Any idea?