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How To Move Eth Left In Koinos Miner Funding Accounts To MetaMask

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Koinos is a new blockchain that is being developed by the ex-Steemit devs. For the distribution of initial supply of Koins they chose mining method that allowed anybody with a computer to participate. Last year I participated or tried to participate in mining Koins too. However, because it was done on Ethereum blockchain minings ended up being too costly. For me personally, buying Koins became a better option than mining. That is what I did and stopped mining.

By default, the Koinos Miner was set up in a way that Ethereum funding account had to have at least 0.05 Eth for things to work properly. If you also participated in mining Koins, you also may have some Eth worth about $100 or more left in that funding account. I used my laptop and a desktop, so I have two funding accounts.

The initial supply of Koins is going to be 100,000,000 Koins. Looking at Etherscan website I see the current supply is at 99,050,545 Koins, which means more than 99% of Koins are already mined and mining will probably end soon.

I used the screenshot about from Koinos website to show what their roadmap is. It seems like if everything goes as planned they will be launching Test-net soon and we should have the Main-net launched sometime in Q4.

To move my remaining balance of Eth from Koinos Miner funding accounts to my MetaMask account I had to through the following steps.

  1. MetaMask gives an option to import accounts. But they also have a warning - Imported accounts will not be associated with your originally created MetaMask account seed-phrase.
  2. To import an account we need the private key for that account. In Koinos Miner there is a Keys button at the top. Clicking that will show a window with the account address and Export Key button at the bottom center.
  3. Clicking Export Key will reveal the private key.
  4. I saved the private key somewhere secure than used it in MetaMask to import the account.

That should be it.

Now that same account is available in my MetaMask. However, I have not decide to move the funds in them yet due to the gas fees. I would prefer to have all of my Eth to be in the same account. But gas prices are high to move them, and not worth transferring between accounts if they ultimately may end up in some exchange. These Eth gas fees always remind me how powerful Hive is when it comes to the freedom and flexibility it provides its users in transferring value.

Posted Using LeoFinance Beta