How To Rent Your Splinterlands Cards Like A Pro
Renting Rant
You list your valuable Splinterlands card on the market and asked for a random number of DECs as rent.
Next, it gets picked up by someone for 30 days or something and you are now getting 8.064 DEC per day.
Similarly, you have listed your top collection and all of them are picked by various players.
Now you don't have to do anything but enjoy the incoming rent for the rest of your life. You are happy, players are happy, developers of the game are happy - Sunshine & Rainbows everywhere!
Lol, no moron. 😂 There is no such thing as 'whole' passive income. You still have to do the bare minimum work on a daily basis to maximize it to its full potential. In this case, a n00b (like me) would stop looking at the market to see if the rentals are changed or not. And suddenly when he checks the status after 15 days or so.... BOOM!
One of the Pros of renting a digital asset is that you get paid frequently (daily, weekly or monthly) and automatically. One of the Cons of renting a digital asset is that rentals change frequently too. If you do not keep checking and updating your asking price for rent then you're leaving a lot of money on the table.
Don't forget, more DEC means more SPS being airdropped for the next few months. So it's a huge loss if you consider 10 months' time. The pain of knowing that there was a chance to make more, hurts a lot. It's the kind of 'hurt' that we don't want in our lives. What do we do then?
Be A Rentals Pro
Splinterlands in-game market doesn't provide enough information. For example, if I want to check the rental price then I cannot see it anywhere. The only info available is that my card is listed on the market and who picked it up (check delegation of the card). This is where Peakmonsters come in handy. It's an alternative market by Peakd to buy, sell, bid, and rent out cards. User your keychain to login and check your card collection. You need to click on the "Compare Your Rentals" button and then you can see the Listed price vs the change in the lowest price accepted in the market.
As you can see above, there is a huge spike in the rental prices. I am losing money daily! So now what? Now, I update the prices with a few clicks. Just select any card and you will see a blue notification like this on the top right of the window, click on it:
Select "Stop Renting" and then you need to wait for the present day's delegation to get over. Then you can select the card and put it for rent with the updated price. It's as simple as that.
Please note that you don't have to do this daily. Just keep checking twice a week and during the season end. That is the time when rental prices go crazy.
Now you and I both are PRO Renters. ✌ Soon we will be able to rent plots as well and I am sure these prices are going to spike even more as more players join the game. Please let me know if you know of any other ways to maximize your rental income. Comment below!
If you are new to Splinterlands then you might want to check out this basic guide. It includes the introduction to the game and the in-game token called DEC (Dark Energy Crystals). Apart from that, you can learn a few more tips that can help you in your Splinterlands journey.
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I somehow still find it easier to do it manually every 2-3 days. Peakmonsters has too many buttons for my brain right now.
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Haha! I was overwhelmed too and that is why I had been pushing it to do later. Today was the day to learn and do it finally. 😁
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Yeah - I hand't been renting cause it was so complicated.
Today I rented a bunch of cards through the splinterlands.
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On the other hand if you rent out cheaply you are helping beginners have an easier start -> pleasant experience for them -> they tell all their friends and bring in more new players -> all the assets become more valuable -> more sunshine and rainbows :p
That's a cool way to help the ecosystem. But I will prefer to use other ways to do that. For now, gimme more DEC because I am a new player too. This is me having a pleasant rather pleasurable experience. 😂
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LOL, I'll help by showing people how to become millionaires by carefully minding your cryptos.
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Haha. Sure! By investing in Splinterlands, HIVE and LEO. Please do it. ;)
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Can you cancel rental early or do you have to wait for 30 days?
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No need to wait for 30 days. Rentals can be cancelled instantaneously. Just have to wait for ongoing day's delegation to finish. So you should be able to list them again before 24 hours after cancellation.
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Thanks for this. I must keep an eye on the market. Still getting used to how the whole thing works.
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I can't find the "compare your rentals" button?
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Go to My Cards section and you will see it on the top right corner. Away from PC, will add the screenshot later. Should be there for sure!
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Make sure you're logged in and in the right section like finguru mentioned
!PIZZA
@finguru! I sent you a slice of $PIZZA on behalf of @coolpoolparty.
Did you know PIZZA has a very active community Discord? (5/10)
Lol, thanks mate. 😬
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Well written article on a much overlooked aspect of the rentals. Same goes for the renting cards to play with, always check if you're not paying some insane premium to play certain cards if the market has changed, unless you're renting on a day-to-day basis of course.
There's something to say for slightly lower listing price: liek mentioned by others it helps new players but it's also more likely your card will be rented out for an extended period or at least most of the time without the need to adjust daily. So there's options to chose from. I do hope the rental system gets an update for longer contracts or an optional escrow for cancellation like the 1.0 system.
Thanks a lot mate. Your tips are as valuable as mine.
Since I am an investor and put my cards on rent, I won't say it out aloud. Haha. But it's true. You'd be a fool to pay those precious DECs away so easily.
Well, no. I don't think this is beneficial for the game. Otherwise, there won't be enough cards to rent or hire on rent due to escrow locks. The market is too small for that right now. Maybe sometime in the future when there are a million players playing Splinterlands.
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Yeah that makes sense, although I'm sure the market will figure it out. Not everyone will use the function, we seen that with rental 1.0. many renters always opted for 0 escrow. However someone with less time could offer a lower price but including an escrow to have longer rentals.
Also heard rumours about a system where you can rent whole sets or certain cards you always want to have available to play.
That's something very annoying to deal with as a player. Thinking you have a card for X more days and then starting a match and discovering the contract was broken in advance..
@finguru will u stop inspiring me? Your each blog is well written. Are you technical writer?
@finguru today I checked out my cards as you mentioned I was renting creeping ooze for 0.8 and I should rent it for 1.87. There was literally money on the table thanks for helping me figure that out!
@clove71 @splinterlands you should reblog it to help other people!