At a Glance:
- Minimum Requirements to Redeem
- Create an External Wallet
- Submit a Redeem request in the COIN App
- Redeem Request Status explained
- Important information
- KuCoin Minumum Deposit Warning
The redeem price of XYO, ETH, and BTC is determined by taking the highest of the current price, the average of the previous day's price, and the last 7-day average price.
In order to redeem your digital assets, you must meet these requirements:
- Have a COIN account
- The account is 2 weeks old
- Mined at least 10,000.00 COIN Tokens
- Have an external wallet that is capable of receiving XYO/ETH/BTC Tokens
- Have not requested a withdrawal in the past 2 weeks
Create an external wallet
If you'll be withdrawing digital assets, you need to make sure you have an external wallet that can hold your assets. XYO Tokens are an ERC-20 Token, so if you want to hold XYO Tokens, then you will need to make sure your wallet is ERC-20 Compatible.
We often suggest Trust Mobile Wallet or MetaMask Chrome extension for a new wallet that can hold ERC-20 Tokens. Trust is a smartphone app, and MetaMask can be used on the computer. We have extensive PDF instructions to assist you in making a wallet! Click the links below to view them:
A step by step guide with Trust Wallet (Note, you can use any personal wallet as long as it is ERC-20 compatible):
If you are using a Coinbase wallet for XYO, ETH, or BTC redemptions, please see Coinbase Redemption
- Open Trust wallet
- Tap XY Oracle or Ethereum
- Tap Receive
- Tap COPY
- Open COIN App
- Tap profile icon in the top left corner
- Tap redeem details
- Tap the pencil on the ERC-20 Wallet box
- Enter your COIN account password
- Tap the Wallet address box, and PASTE
- Your wallet address should appear in the box. Tap the green Update button.
Submit a Redeem request in the COIN App
- Tap the assets bar where the total COIN collected is displayed.
- Tap "Redeem" next to the digital asset you would like to request a withdrawal for.
- If you have met the above requirements, an email will be sent to you with a link to a web page where you can log in and verify your redemption details and confirm you have created this request.
After you submit your redeem request - Verification Email
- Check your email for a message from the COIN App. You will need to open this email and follow the steps to complete your redemption request. Your redeem request status should show "Requested"
Redeem Request Status explained
- "Verifying" means we have sent you an email to verify your redeem request. You need to open this email and follow the prompts within. The email is sent to the same one your COIN account is under. "Verifying" status only lasts 3 days. If you do not verify within 3 days of requesting to redeem, your request will be canceled.
- "Requested" or "Approved" means you have verified your redeem request, and you are waiting for us to complete your request. Redemptions can take up to 5-7 business days to fulfill. If you do not see your redemption request fulfilled immediately, this is why.
- "Completed" means that your request has been completed, and the digital assets have been sent to your wallet you have registered on the COIN App. If you do not see your tokens in your app, be sure to contact the Support team of that wallet to help you out!
- "Canceled" means that this request was canceled by the user, "Denied" if we have denied your request.
- "Verifying" status only lasts 3 days. If you do not verify within 3 days of requesting to redeem, your request will be canceled.
- Redemptions can take around 7 business days to fulfill. If you do not see your redemption request fulfilled immediately, this is why.
- The cost of items can fluctuate and some items have service charges associated with them that are also subject to change.
- When Gas prices are at higher levels than normal, COIN requires an additional fee to help cover the transaction costs when redeeming XYO. Ethereum gas prices are out of our control.
Warning for KuCoin:
Please be informed that your XYO won't be credited to your KuCoin account if it does not reach the minimum required amount. You may check the minimum required amount on KuCoin's deposit page before requesting the redeem to a KuCoin address.