The first Lucky Block Crypto draw is scheduled for mid/late May 2022
Buying cryptocurrency can be daunting – there are numerous wallets and sites and networks and exchanges and coins and so on – so I’ve put together this guide to walk through buying Lucky Block tokens on Pancake Swap, and how to store them in our Trust Wallet accounts. Please note that I am not a financial advisor and this is a guide only – I am not advising that you buy cryptocurrency. I do not know your financial situation and you should always perform your own research and make up your own mind. Investing is a high-risk activity and you should only invest what you can afford to lose.
How to buy Lucky Block Crypto tokens:
- Sign up for a Trust Wallet account
- Buy BNB Smart Chain through Trust Wallet
- Exchange BNB Smart Chain tokens for Lucky Block
- Import Lucky Block address to Trust Wallet
We will also cover the What and Why later on in the post.
Step 1 – Sign up for a Trust Wallet account
First things first – we will need a cryptocurrency wallet to store our Lucky Block. In this guide, we will be using Trust Wallet as it is very easy to sign up for and use. There are plenty of other wallets out there to choose from and they should all be able to store Lucky Block.
1.1 – To start, we head over to trustwallet.com and download the app for our phone’s operating system. Alternatively, we can search for Trust Wallet on our phone’s app store.
1.2 – Once installed, open the app and tap ‘Create a new wallet’.
1.3 – Now this is the important bit. At this step, we will receive our unique pass phrase. This pass phrase is unique to this particular wallet and it is the only way we will be able to recover our wallet. To reiterate – if we lose this pass phrase, we will not be able to recover our wallet and, therefore, all our coins will be lost forever.
Once we have confirmed that we have stored our pass phrase, we are finished setting up our Trust Wallet. Although we are finished with the basic setup, I would advise going into the security settings and adding a passcode, and turning on Transaction Signing. I’ll cover this in more detail in a future post.
Step 2 – Buy BNB Smart Chain Tokens through Trust Wallet
To buy Lucky Block, we first need to buy BNB Smart Chain tokens. Luckily, we can easily buy BNB Smart Chain tokens through Trust Wallet.
2.1 – We will now ensure that BNB Smart Chain is on our list of saved tokens on the home screen. Please note that if “Smart Chain” is already listed on the home page then we can skip this step. Tap the icon that looks like two sliders in the top right corner of the home screen. This is how we search for and add new tokens to our Wallet’s home screen. Type in “Smart Chain” or “BNB”. We will now tap on the toggle icon to the right of “Smart Chain BNB”. If we go back to the home page, we will see the token listed there.
2.2 – Tap on “Smart Chain” to display token details and options. Tap on “BUY”, which is found in the top right-hand corner, and we will be taken to the initial payment screen.
2.3 – Enter the desired amount of $USD to buy BNB Smart Chain with. The app will automatically select the third-party provider with the best rate for us. We can tap on “NEXT” at this stage or we can choose a different third-party provider. I tend to stick with the same provider, MoonPay, as I’ve had nice smooth experiences with them and, by sticking with the same provider, it saves me from entering my payment details in extra places. The rates between providers are generally much the same. To change suppliers we can tap on the supplier box and select another from the drawer that pops up.
2.4 – Follow the instructions on the provider’s page to buy the BNB. Please note that there will be a transaction fee for buying. The fees will be stated before we buy.
2.5 – Once the transaction is in progress we can close the provider’s page and keep clicking back until we get to the wallet home page. The funds will likely not show straight away, but it shouldn’t take too long. My average wait time has been around 3 minutes.
Step 3 – Exchange BNB Smart Chain tokens for Lucky Block on Pancake Swap DEX
Now we need to turn those BNB Smart Chain tokens into Lucky Block tokens. To do this we will use Pancake Swap DEX (Decentralized Exchange).
3.1 – Head on over to https://pancakeswap.finance/.
3.2 – Connect to Trust Wallet by tapping “Connect” in the top right corner >> “WalletConnect” >> “Connect”.
3.3 – Trust Wallet will open and will require our passcode if we set one up.
3.4 – At this point, we must check that we are on Smart Chain. We check by clicking on the box in the middle of the screen and ensuring that Smart Chain is checked. If another network is selected then simply tap on Smart Chain.
3.5 – Tap “CONNECT”.
3.6 – Navigate back to Pancake Swap
3.7 – On Pancake Swap, ensure the top field is showing BNB. Enter the amount of BNB to swap or, alternatively, tap “Max” to transfer it all. Note: I tend to hold some BNB back for transaction fees. Each transaction includes a small charge – BNB Smart Chain is the token that we need to perform transactions on the Smart Chain.
3.8 – Add Lucky Block to the bottom field by clicking on CAKE in the bottom field and pasting the Lucky Block address. The address can be found on Coin Market Cap by searching for Lucky Block and copying the Contract address. At time of writing, this address is 0x2cD96e8C3FF6b5E01169F6E3b61D28204E7810Bb.
3.9 – Accept the warning that will appear if you are happy the contract address is correct.
3.10 – Tap on “Swap” >> “Confirm Swap”. After authorizing the transaction, we should be presented with a screen stating the transaction is submitted.
Step 4 – Import Lucky Block address to Trust Wallet
Now to view those tokens in Trust Wallet, we need to add the Lucky Block address.
4.1 – Open Trust Wallet and tap on the icon that looks like two sliders located in the top right of the home page.
4.2 – Search for “luckyblock” – all one word and tap the slider next to LuckyBlock LBlock BEP20.
4.3 – When you return to the Trust Wallet home screen then you will see LuckyBlock with the amount of LuckyBlock tokens you hold.
And that’s it. We have successfully bought Lucky Block and are tracking it on Trust Wallet. As simple as that!
What is Lucky Block?
Lucky Block Crypto is a cryptocurrency token that operates on the Binance Smart Chain. It is attempting to revolutionize the lottery model by removing geographical barriers and offering a level of transparency not seen before in a lottery. By utilizing the BlockChain, it will be able to offer instant payouts of winnings and all transactions will be visible through the public ledger. Due to the nature of the BlockChain, this lottery model is significantly cheaper to run than a traditional lottery meaning more funds can be funneled to the winners.
Why buy Lucky Block?
Remember that only you can decide if investing is right for you. You need to way up the pros and cons and make your own decision. Only you know your own financial situation, but the rule of thumb is to only invest what you can afford to lose.
I currently hold Lucky Block tokens in my portfolio and I will do so for the foreseeable future – I’m looking forward to seeing where this project goes. When I invested I accepted that I may never see that money again – please keep that in mind.
Fast adoption
Lucky Block was the fastest cryptocurrency to reach $1bn market cap which is no small feat. After a successful pre-sale, the token was listed on Pancake Swap and it took off. The token price shot up after listing but has since come back down.
Exposure
The Lucky Block team are not shy to advertise. Their most notable advertisement has come in the form of sponsoring the boxer Dillian Whyte. Greater exposure will be coming soon as they have requested to be listed on crypto exchanges which will increase access to investors.
Passive income
Another exciting prospect of Lucky Block is the chance to earn passive income just by holding the token. If we look at the FAQ page we can see – “All token holders who make a daily claim are entitled to the token distribution from the jackpot in proportion to the number of tokens they hold.”. So by holding tokens, and making a claim each day, we will be increasing our balance. Not 100% passive, but very close!
Holders of Lucky Block will also receive a free ticket for the daily lottery by connecting their wallets each day which means that without buying a ticket, a user is still in with a chance to win.
Let’s have a look at the pros and cons of investing in Lucky Block:
Pros
- Very easy platform to buy into and work with
- Worldwide lottery
- Earn by holding
- Chance to win big
Cons
- High sell tax of 12%
- Relatively young idea
- Volatile token price
- As with all investing, you could lose all the money you invest
Lucky Block v2
Lucky Block v2 is the teams’ way of listing the token on Centralized Exchanges (CEX). It will be used purely for day trading. This token will be Ethereum-based (ERC20) and will run alongside the original v1 Binance Smart Chain-based (BEP20) token. The v2 token will not incur a 12% sell tax, however, it cannot be used to participate in the games or receive rewards.
The token price of each version will match the other. This will be achieved by locking tokens, meaning that a token cannot be purchased. So when a number of v1 tokens are purchased, the equivalent number of v2 tokens will be locked, and vice-versa.
Found this guide helpful? Here is another crypto how to: How to Buy Titano
Signing off
Iain McClafferty – The Five Year Mortgage
