You do NOT have to pay ETH for mining Sound Money Coin. It simply requires calling a function of the SOV Coin smart contract. However, you will need some ETH to pay for the fees of sending an Ethereum transaction.
1. Install Metamask for Chrome or Brave Browser.
2. Follow the instructions in the Metamask to set up your wallet. Make sure to keep the seed phrase somewhere safe.
3. Send a little bit of ETH to your Metamask account to pay for transaction feeds This is the most difficult part — you’ll either need to transfer some from an exchange or buy it from Coinbase, LocalEthereum. ~0.1 ETH should be sufficient to mine a few SOV.
4. As soon as you have ETH on your account, visit the SoundMoneyCoin minter website. Your SOV balance of 0 SOV should show up.
5. Hit the ‘mint’ button. A Metamask popup should show up. You should increase the gas to above average to increase your chance of getting into the next block first. Click on ‘edit’ in the GAS FEE tab.
6. Open the ‘advanced tab’ and set the gas price to higher than average. Metamask should show a confirmation time of~30s. Hit ‘save’.
7. Confirm the transaction. After a few seconds, you should see a success popup.
Your wallet balance should now show 0.05 SOV.
Note that the process can fail if another user manages gets their transaction into the same block before you. The higher you set the tx fee, the more likely it is that miners will prefer your transactions to others’ (however, it depends on the algorithm the miner uses to assemble blocks).
If you have any questions, visit the support channel on Discord. Happy mining!