How to receive a basic income in the Ethereum UBI token?

How to receive a basic income in the Ethereum UBI token?

Key facts:
  • To register in Proof of Humanity you have to upload a photo and a video to the platform.

  • It is required to have 0.125 ETH, which will be refunded if the registration is done correctly.

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Update 03/31/2022– This article has been updated to add the “pending registration” phase to the Proof of Humanity registration process. In addition, it was specified in the corresponding part that it is not necessary to provide real name and surname.

In March 2021, UBI was launched, an acronym in English for «universal basic income» or «universal basic income». This is a project that rewards each person who validates their identity and associates it with an Ethereum address using the Proof of Humanity (PoH) platform.

The reward is in the UBI token, which is given at a rate of one per hour, to each person who completes the registration in PoH.

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How to receive a basic income in the Ethereum UBI token?

The price of this token fluctuates based on supply and demand. At the time of writing this article, each UBI is worth USD 0.04, but it has also been seen above USD 0.50. In those moments in which the token increased its price, monthly income with UBI has reached hundreds of dollars, equivalent to a basic salary in certain parts of the world.

It is planned to create communities where UBI can be exchanged for products and services. It is also possible to exchange it for ether (ETH) or other tokens on the Uniswap decentralized exchange or on some centralized exchanges and brokers.like Ripio.

Having said all this by way of introduction, it remains to answer the question that gives the title to this text: How to receive a basic income in the Ethereum UBI token? Let’s go step by step:

You need an Ethereum address and have ETH

The UBI project is developed on the Ethereum blockchain, so to interact with the protocol, you must have an address on this network and a wallet.

There are several softwares that you can use for this, but in this tutorial We will see the examples with what is possibly the most used wallet in Ethereum: the MetaMask extension for desktop browsers. Make sure that it is connected to the main Ethereum network and that it has at least 0.125 ETH, the network’s native cryptocurrency, which you will need later (don’t worry, registration is free and then you will recover that initial deposit). Also, you should have some additional amount to pay network commissions. It is not possible to specify how much, but it can range from approximately USD 40 to USD 200 at times of greatest congestion.

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How to receive a basic income in the Ethereum UBI token?

If you don’t know where to buy ether, Ethereum’s native cryptocurrency, you can read one of the following tutorials prepared by CriptoNoticias. Click on the name of the country in which you reside: Argentina – Bolivia – Colombia – Chile – Cuba – Ecuador – El Salvador – Spain – Honduras – Mexico – Nicaragua – Panama – Paraguay – Peru – Puerto Rico – Dominican Republic – Uruguay – Venezuela .

How to register in Proof of Humanity?

First of all, you need to go to the Proof of Humanity website, https://www.proofofhumanity.id/. We recommend that you click on that link or copy the address into your browser. Remember that the cryptocurrency world is riddled with scams and you could land on a website with a slightly similar name, but it is fraudulent.

Once there, click on «Start» at the top right of the screen. you will be directed to https://app.proofofhumanity.id/ (if you wish, you can go directly to that second web page).

How to receive a basic income in the Ethereum UBI token?
If you register with Proof of Humanity, the data you put (photo, video, name and description) will be recorded in the Ethereum blockchain and anyone can see it. Source: Proof of Humanity

You will be shown a list of thousands of people (more than 15,000 at the time of writing this article), each with their name, photo, a brief description and the registration phase they are in.

Keep in mind that, if you continue with the process, you will also be part of that list, the Ethereum address you use will be linked to your identity and all the data you provide in the registration form will be public (this includes your photo, a video with your voice and, through a block explorer, the transactions you make and have made with that address can be seen). That information will be indelible for as long as the Ethereum network exists.

If you are convinced that you want to continue, then the next thing you should do is click «Submit Profile» (Send Profile) at the top of the screen. The following form will open and you must complete it, as we will explain below.

How to receive a basic income in the Ethereum UBI token?
Proof of Humanity recommends using an address that is either public or a new seed via
a mixer like Tornado Cash. Source: Proof of Humanity.

On “DisplayName» you choose the name you want to display. It can be your real name or a nickname.

On “First Name» you put your first name and in «Last Name” your last name. It does not need to be your real data.

Where says “Short Bio», is a space for you to write something about yourself. A brief biography with the data that you want to put. If you want to write about your hobbies, profession and interests, you can do it; and if you just want to put “I am a human being”, you can do that too.

Once you’ve completed that, keep going down the page. You will see two text boxes, one to upload a profile picture (“Face photo») and another to upload a video («Video»).

In the first of them you must upload a photograph of yourself. You can use a pre-existing one or take one on the spot with your webcam. Keep in mind some details:

  • The maximum weight of the image can be 2MB.
  • The file can be jpg, jpeg or png.
  • Your face and facial features must be visible. You can’t wear heavy makeup or masks that make it difficult to see your features.
  • Head coverings that do not cover the inner region of the face are acceptable (for example, indicating that a hijab is acceptable but a niqab is not).
  • Veils, turbans or wigs can be used as long as the previous points are not breached.

Once your photo is uploaded, it’s time for the video. It is an mp4, webm, avi or movi file of a maximum duration of 2 minutes and weighing no more than 7MB.

There you must show your Ethereum address (it can be on a handwritten paper, printed, or on a screen). It must look complete and be the exact same address you are registering with.

Also, while showing your address, in your normal voice you have to say «I certify that I am a real human and that I am not already registered in this registry».

This phrase, in English (if you say it in another language it is not valid) means: “I certify that I am a real human and that I am not already registered in this registry”. If your English pronunciation is not good, do not worry, because that is not something to be evaluated for registration in Proof of Humanity.

How to receive a basic income in the Ethereum UBI token?
Ethereum co-creator Vitalik Buterin is one of those who “tokenized” his identity on Ethereum and receives basic income in the UBI token. Source: Proof of Humanity.

Now you need to go to the button at the bottom of the web page and click «Submit». By doing so, you will submit your data for evaluation by another user.

when you click there, you will be charged from your Metamask wallet the sum of 0.125 ETH (plus fees from the Ethereum network). Keep in mind that once your profile is approved, those deposited ETH will be refunded to you (not the network commissions).

Once you do all this, you move on to the «Vouching phase» (endorsement phase). Some other user with a profile already registered and accepted has to approve it (or, as they say in Hispanic PoH groups, they have to «voucher you»). This means that he must validate that he knows you and that you are a real human.

If you know someone already registered in Proof of Humanity, you can ask them to «voucher». If not, keep in mind that there are virtual communities where users verify each other’s identities. To verify that the other person they have never seen really exists, a video call is often used. In the group Proof of Humanity in Spanishfrom Telegram, you can meet other users virtually and, perhaps, get verified by someone.

Once you have your profile verified by another user, you will be for three and a half days as «Pending registration» (registration pending). During this period, any verified person who sees any errors in your profile or believes that you have made a mistake in the registry, can let them know. If, indeed, there is any breach of the rules, your registration will be canceled and you will lose the deposit of 0.125 ETH, which will go to the complainant.

How to receive a basic income in the Ethereum UBI token?
UBIs are sent directly to your MetaMask wallet at the rate of one per hour. Source: Metamask.

If no one makes any claim on your registration, after three and a half days you will see that, at the top of your profile you can see the legend «registered” (registered).

That’s it! It means that there is no doubt that you are a real user and therefore Proof of Humanity will reward you with a basic income of 1 UBI per hour. To receive this income, you do not have to do anything. Constantly, In your MetaMask wallet you will be able to see how the amount of UBI you have is increasing.

What to do with your UBI tokens?

The UBI project, at the time of writing this article, has just been launched for a year. There is not yet a large number of providers of products and services that accept the token as a means of payment.

Anyway, when you want to have that money to use it, you can exchange it for some other cryptocurrency or token, for example, a stablecoin. Decentralized exchange (DEX) Uniswap is the place for it. CriptoNoticias has developed a tutorial on how to exchange tokens on this platform.

How to receive a basic income in the Ethereum UBI token?
The decentralized exchange Uniswap allows to exchange UBI for ether or tokens of
the Ethereum network. Source: Uniswap.

If you live in Argentina, you can use Ripio broker services to exchange your UBI for pesos or some other cryptocurrency.

With this centralized option you will save yourself the payment of Ethereum commissions involved in making the change in a decentralized exchange. CriptoNoticias has prepared a review of the broker gravel that you can read to decide whether or not it is the best option for you.

How to receive a basic income in the Ethereum UBI token?
Ripio shows the price of UBI in Argentine pesos and allows the token to be bought and sold on its platform. Source: Rubble.

Also, if you trust that the UBI project will grow and, along with that growth, the price of its token will increase, you can «hold it». That is, keep it in your wallet as a savings, waiting for its valuation.

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