Now that the merge is completed are ETH is on the way to the next phase we still have ETHW to worry about. This covers how to claim and sell your ETHW or proof of work Ethereum.
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With ETHW now listed on many exchanges with 49 trading pairs currently, it’s clearly growing in popularity. That’s why you need to claim your ETHW as soon as possible so you can cash in or get ready to HODL.
We will go through the steps to claim and sell your ETHW following exactly what I did to do this. I also cover doing this from a hardware wallet and what the extra steps are to complete this airdrop. Before we get into the tutorial though, let’s make sure you can actually claim this in the first place.
The only requirement you need to claim ETHW is to have held ETH in a wallet you own at the time of merge snapshot taken on September 15th, 2022. Given you have any amount of ETH or ETH assets not on exchanges or services that like lenders that require you to deposit your ETH, you will have received the airdrop with the equivalent amount of ETHW to your ETH.
First you need a wallet that supports custom RPC or “adding networks” to your wallet. The easiest wallet to do this with that I prefer is Metamask: https://metamask.io/. You can download it outright or as an extension for your browser. Once you’ve got your Metamask wallet or if you already have one, proceed to the next step.
At the top of your Metamask wallet you will see “Ethereum Mainnet”. You can click on this and switch between networks and or add a network. Click add network.
Fill out the fields with the following:
· Network Name: ETHW-mainnet
· New RPC URL: https://mainnet.ethereumpow.org
· Chain ID: 10001
· Currency Symbol: ETHW
· Block Explorer URL(Optional): https://mainnet.ethwscan.com
Clicking on the networks again, you can switch to the ETHW-mainnet. Here you will find an exact copy of all your assets from the Ethereum mainnet from the snapshot on September 15th 2022. This even includes your outstanding contracts, tokens, NFTs, etc.
For the most part currently people are only really trading ETHW and not all the ETHW tokens or NFTs, but you may be able to make a profit off those copied assets too in the future or perhaps there is already a way to do so that I’m not aware of.
Beyond this, you can send it to an exchange and sell it the same way you would with ETH. You can find every exchange that accepts it here: https://coinmarketcap.com/currencies/ethereum-pow/markets/
I prefer using Bybit because they don’t have KYC so you get started right away. If you don’t have an account you can register with my referral code QY8DDR or sign up via: https://www.bybit.com/register?affiliate_id=27995
Once you’re on Bybit, you can go to Assets -> Deposit -> ETHW. Acknowledge that you are okay to send here and then grab your address and send your ETHW. The gas fees are very low for now so it shouldn’t cost much at all to send it over to the exchange and then after 50 confirmations which took me about 10–20 minutes, you are ready to trade it for USDT which is currently the only trading pair on Bybit.
Once this is complete, you can freely trade it for anything else and withdraw with no issues. It may require you to add 2 factor authentication first, but there are no withdrawal limitations aside from fully confirming the deposit beyond the 50 confirmations. It will take about 1000 confirmations or another 200 minutes to fully confirm and for you to actually be able to withdraw those funds.
This is the official guide on how to claim and your ETHW: https://medium.com/@ETHW/tutorial-set-up-ethw-wallet-and-claim-airdrop-f72a3e7e090b
This guide from Ledger helped me claim my ETHW on my Ledger wallet: https://support.ledger.com/hc/en-us/articles/6799981270045-How-to-access-your-Ledger-Ethereum-POW-ETHW-account-via-Metamask?docs=true#fromHistory
This is the Ethereum PoW website: https://ethereumpow.org/
This is the tutorial for mining ETHW: https://medium.com/@ETHW/tutorial-mine-ethw-in-a-mining-pool-ab65ff1533d6
Finally, this is a great resource for FAQs around ETHW: https://medium.com/@ETHW/faqs-fd2fba846eca
If your ETH is on an exchange or service for lending, well this is just another example of why you always hold your crypto in your own wallet. I was able to get my 31 ETHW with no issues. I hope this helped you! If it did, please consider sharing this with someone else who might not know about this opportunity. ba
Did this help you claim and sell your ETHW? Were you holding ETH when the merge happened? Are you bullish on ETH? Are you bullish on ETHW? Let me know what you think about this in the comments below and don’t forget to subscribe!
*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*
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