Before we begin explaining, here are some key terms:
Ethereum: A platform for building software distributed over a public blockchain network
Ether: The currency that allows the Ethereum system to operate. Every time a blockchain transaction isj processed, some Ether is charged. Ether is abbreviated to Eth.
Dapps: The applications built on Ethereum. Stands for “Decentralised Application”.
Wallet: Where your Eth is stored. Squares will also be stored in your wallet.
MetaMask: an In-browser application, which lets you buy squares with Eth. Your MetaMask wallet will store your squares
Squares represent the a partial ownership in a physical asset.
The benefits to this platform arise from the following scenarios, which can result in profits for the user:
If Ethereum goes down in value from your original purchase price relative to your designated currency, and the underlying asset retains its value, you the user can realise a profit by selling your squares and buying Eth. If Eth then proceeds to rise back in value, you the user can realise a profit from the net Ethereum fluctuation.
If Ethereum goes up in value from your original purchase price relative to your designated currency, you can still realise a profit if the underlying asset appreciates in value. When the asset is sold, simply trade your Eth for fiat currency to realise your profit.
Of course, if Ethereum and Squares move in the same direction down, a loss would occur if the user sold their square holding for Eth, and then sold their Eth for fiat currency.
Under this scenario, it is important to understand that the squares may be sold for Ethereum, which can then be used to buy other squares.
Unless the world economy goes under, there will always be something on the platform that makes profit some way!
You just have to look.
MetaMask is the interface that AssytSquared uses to interface with Ethereum. We use MetaMask to ensure you can buy squares using Ethereum. MetaMask stores the digital wallet for both Squares and Ethereum, and all trades between the two will be made using MetaMask.
2. You will be taken to the Chrome Extension Store, select ‘Add to Chrome’.
3. In the pop-up that appears, click the ‘Add extension’ button.
5. Left-click on the Fox icon and select the ‘try it now’ to use the latest version.
7. You will then be given a paraphrase that will allow you to restore your MetaMask accounts — Write this phrase down, as it is the only way to restore your accounts if you uninstall MetaMask or lose your computer.
8. You may now use this account to deposit Ethereum into from your wallet
9. Close the browser window, you can left-click on the Fox head again (in the top-right of the Chrome browser) to show your accounts — this is how you will use MetaMask with to buy squares.
10. If you already have another wallet you can use the MetaMask account management features to import existing wallets, please refer to the MetaMask documentation for help.