Thread by @sovereignorigin

Short mini-tutorial for those starting out with @SovrynBTC e.g. #DeFi on #bitcoin. Use your coins without KYC, lending pools, liquidity pools, spot, margin and limit trading, ... and of course #GetOnZero!

A short thread on my @RSKsmart onboarding experience. It may help you!🧵

First things first. You need a wallet that supports RSK!
Beyond @MetaMask, ..., I prefer a hardware wallet and happened to have a @Ledger.
It supports RSK /w the RSK app, which is not supported in Ledger Live. So you can connect to Sovryn and RSK, but won't see TXs. What to do?

Pro tip: you can connect your Ledger on app.mycrypto.com and use it to transact on the RSK main chain! You will need this later on. For now, it can already help you to identify which addresses you have on RSK. If you connect to Soryn with your HWW, the address is the same.

Your mainnet bitcoin may already be on your Ledger or HWW. Let's bring it into RSK! Several options exist. Most direct, fully in-control is the pegin/pegout process described by @RSKsmart here: developers.rsk.co/rsk/rbtc/conve…
However, the basics are here:
rsk.co/rbtc/

A great tool here is @defiantwallet, which is a mobile app that has a GUI making a user go through the powpeg and have full control of their keys on both main- and sidechain. I used this and enjoyed it a lot - felt like my first BTC transaction all over again.

Note to use this path you need to go and put your BTC from the HWW / Ledger and send it to a mobile hot wallet for the duration of the pegin/pegout.
After it's on RSK, you can send it back to your HWW RSK address (remember: the app.mycrypto.com shows you the balances)

The above option is only reliant upon the powpeg signatories "pegnatories" to transfer your request according to the protocol and release the RBTC, which is a fully automated process. Read about the pegnatories here to understand this:
developers.rsk.co/rsk/architectu…

Alternatively, you can powpeg through a service provider. Essentially, this is a party that already has RBTC and just sells it to you on RSK in exchange for your BTC on mainnet and vice versa.
Thus, a minimum level of trust is endowed upon a third party, much like a CEX.

. @SovrynBTC offers this service through FastBTC on your portfolio page:
live.sovryn.app/portfolio -> "Send / Receive" is essentially a RSK<>Mainnet BTC exchange service.

Still, alternatively, you can use a CEX and simply buy RBTC, for example on @kucoincom and withdraw it to a RSK enabled wallet (e.g. your HWW through the app.mycrypto.com interface) or @MetaMask or @defiantwallet.
From my experience: withdrawal fees are IMHO hefty!

Furthermore, you can buy RBTC through a fiat interface on @SovrynBTC using the Transak service (KYC may be required): live.sovryn.app/portfolio using "Buy".

As opposed to KYC approaches I would personally prefer to get my BTC through another channel such as @bisq_network or @relai_app if I had to go through SEPA. Then, you would be able to simply peg-in as described above. But it's up to you!

I went through a full manual peg-in and peg-out with @defiantwallet and verified everything works with the minimal amounts possible in the process (Check! Not all amounts work!).
It takes a long time (17-hrs in, 32-hrs out, so be prepared for a nailbiter...

After you've got RBTC on your HWW, you can connect with it on Sovryn and get going!
Babysteps; first try depositing some to the BTC lending pool and start earning some interest. It's not much, but it's an honest job.

Honorable mention to @tropykus as a second player in the RSK space with a focus on LatAm users. I'm fluent in Spanish and can say their product is very easy to use and well explained. 3% on up to 0.025 RBTC!
The entire above description also works for onboarding with Tropykus.

Note, I'm not in any commercial engagement with any of the products/companies linked in this thread at the time of writing.
I genuinely like their stuff and share them here so you don't need to reinvent my wheels.

Moar threads may follow. Let me know if this was helpful or if you have any questions - I can follow this up with more tips or possibly be of help in case you run into issues.
Just #HODL!