Hummingbot Miner adds support for Algo and NEM wallets

Blog»Hummingbot Miner adds support for Algo and NEM wallets
enabling-algo-and-nem-wallets

RC

2020-10-23 · 3 min read

Ahead of upcoming liquidity mining campaigns for Algorand and NEM, we have just rolled out support for both Algorand and NEM wallets. Users participating in the Algorand campaign will receive ALGO and USDT ASA (Algorand Stand Asset) rewards into their Algorand wallet, while users participating in the NEM campaign will receive XEM into their XEM wallet.

connect-wallets

Algorand wallet

To get started using the Algorand blockchain and wallets, you can use a wallet such as MyAlgo Algorand Wallet. The wallet will be able to receive Algorand tokens and users will have to enable USDT to start receiving Tether.

⚠️ Do not use a Binance deposit address for Algorand campaign rewards. Binance.com does not yet support USDT ASA.

Getting started with Algorand Web Wallet:

  1. Go to Algorand Web Wallet.

  2. Create an account and complete the sign-up process.

  3. Make sure to save the mnemonic phrase. You need this to recover your wallet.

  4. Your wallet address will appear on the main screen, below your wallet name.

algo-wallet

Adding Tether USDT to your Algorand wallet

Important note: you must enable USDT on the Algo wallet in order to be able to receive USDT ASA. Enabling USDT will also require you to have some amount of ALGO tokens in the wallet in order to call the function to enable USDT.

  • From your wallet dashboard, click on the dropdown and select

     

    Add Asset

add-asset
  • Search for Tether USDt ASA. Make sure to select the one with a verified check mark.

add-asset1
  • Click Continue then click on Asset opt-in.

  • Enter your password and click on Send to sign and broadcast your opt-in transaction to USDT.

  • Wait for few minutes for transaction to be signed

signed
hb-algo
  • Enter your Agorand wallet and status will change to enabled.

algo-enabled

Alternatively, users can opt to use different wallets. Algorand based tokens are supported by a wide range of wallets which you can find listed here.

NEM wallet

Important note: XEM wallets may require both (1) the wallet address and (2) a memo field. Make sure to provide the memo if your wallet provider requires this field.

You can use a Binance deposit address for XEM tokens to receive XEM tokens directly into your Binance account.

  • Login to your Binance.com account and go to Wallet > Overview

binance-overview
  • Click on Deposit button and this will give you option, select Deposit Crypto

deposit
  • Search and select NEM (XEM) token

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  • Save and backup your NEM Address and MEMO

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  • Connect NEM Address to Hummingbot miners by logging in to your Hummingbot miners account and navigating to Settings > Connect Wallet.

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  • After adding NEM Address and MEMO, status should now show Enabled.

nem-enabled

Alternatively, you can create a separate NEM wallet:

  1. Go to NEM Wallet.

  2. Download and extract Universal desktop client.

  3. Launch the wallet.

  4. Create an account and complete the sign-up process.

  5. Login to your newly created wallet.

  6. NEM wallet address will appear on the main screen, under Account Information.

You may also refer to this step on how to create a NEM wallet.

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