Hi guys and welcome to another beautiful day, on today’s writeup we are going to take a quick look at the steps to trade your EOS RAM back to EOS.
Unlike BTC, ETH, and other blockchains, creating an EOS account requires users to have a certain amount of EOS which would be staked on CPU, NET and the rest to acquire RAM. This can be done with the use of an activation code where you get paid service to do this for you, on smart contract you send the required amount of EOS to a provided address and memo or the create by a friend, where your friend pays the required fee.
While the goal remains the same, the method to achieve this differs and users not too familiar with this information on the EOS network later find themselves missing EOS whereas it was used to pay the required fees.
Whichever option you make use of, the result is always the same, a private key is generated and also your unique username.
The private key controls your account and users are always advised to keep this safely and to never give it out to anyone, it can be used to restore your account if for any reason your mobile phone was formatted or corrupted.
We mentioned different types of ways to create an EOS account but today’s writeup will be focused on the smart contract.
Earlier today I had a user making a complaint of missing EOS after sending the required amount of EOS to the generated address and memo for account creation via smart contract the sent EOS was now missing and this could have probably been solved if the user was informed about the resource model of the EOS network and a simple search on his account on bloks.io would have revealed more information on how the EOS was spent.
In short, the EOS was allocated to CPU, NET, and RAM with a huge percentage going to RAM.
While CPU and Net when staked give you the same amount when un-staked, RAM is a little bit different, and over time, the cost has actual increased, meaning those who bought a large chunk of it are currently on profit.
To get back your EOS from RAM, you need to sell this RAM back to the market and it is as easy as ABC, so let’s get started with this tutorial.
First, you will need an EOS account and I like to think you already have this sorted, but for those yet to, please download TokenPocket wallet from playstore or Appstore as it supports EOS wallet and other blockchains wallet as well.
From your EOS asset page as shown on the screenshot above, click on Resources and a new menu comes up
Click on RAM and it takes you to the RAM menu resources showing the total amount of RAM you account currently holds, remember selling all will reduce your account functionality.
While you might not like your EOS used for RAM purposes, you are free to sell whenever you see fit just remember that the RAM is needed to make your account active and when this is mot available, the transaction becomes impossible to go through.
From the new menu, input the amount in KB as you can see from the screenshot above, the amount in KB/EOS is shown to you like every market system
Type the amount and click sell, unlike staking CPU and Net that requires time to un-staked, it takes seconds if the RAM order was filled for the corresponding EOS to be depaosited to your account
This is all for today, stay safe until some other time.