Why does wallet compatibility matter?
The blockchain is permanent, and so are any transactions you make with it. This means that it is very important to ensure your crypto wallet is compatible with any cryptocurrencies or NFT items you store in it.
When you redeem COIN for XYO, ETH, BTC, or any other crypto asset, it is your responsibility to ensure your receiving wallet address or Coinbase Account email is correct and the wallet is compatible. If it is not, you can lose your assets forever and there is no way to reverse a cryptocurrency transaction. There is nothing that can be done to recover lost funds. Feel free to check with your wallet's support team to confirm the best receiving address for your desired item!
NFT: When you mint NFTs in COIN you need to make sure to use an eligible wallet address. In some circumstances, you can use the same wallet address you use to receive XYO. If you own the private keys for the address, as you would with MetaMask for example, then it is eligible to receive both XYO and NFTs from COIN. Please check with your wallet's support team to confirm the best address to receive NFTs! Please note that COIN has no control over how an NFT is visible in an external wallet.
Note: If you don't have an NFT wallet address set; no problem, you can use our shared COIN Escrow wallet to mint the item. Whenever you are ready, we can transfer that item over to your personal NFT wallet address. Contact us when ready for help with redirecting your NFT from our Escrow wallet.
NFT in Metamask: To view an NFT that has already been sent to a Metamask wallet, you may need to change networks to see it. Use a drop-down that is on the top left of the Metamask browser extension window. Select Polygon from that and then go to the NFTs tab and Import the NFT with this contract address: 0x4670185b40096bf6F327B0461119863b7F38BCf2 and your Pickaxe ID which can be found on my.coinapp.co/pickaxes. Do not send NFTs to the Contract Address, they will be lost.
NFT in a Coinbase account: Web3 support in the Coinbase app itself is being sunset, but users can transfer NFTs to a Coinbase Wallet App or Metamask.
How can I prevent lost funds?
Make sure you only provide a valid and compatible Ethereum wallet address that can store the assets you want to redeem. Additionally, make sure only YOU have access to that wallet and the wallet's "private key" (like a secret, all-access password to access your wallet).
If you provide an Ethereum contract address where you do not own the private key, you will lose your redemption.
Exchanges: If you provide an exchange wallet (such as KuCoin, etc), you can potentially lose your redemption because the exchange has access to your funds in order to trade them. Some exchange wallets like KuCoin are compatible with XYO Token and make it very easy to trade, but please note that they are not as secure as a personal wallet. You must also meet the minimum required amount to store in KuCoin. Failing to do so will result in the loss of your tokens.
Need a compatible wallet? Here are some we recommend:
Trust Wallet https://trustwallet.com is a mobile wallet that is popular, easy to use, and shows ERC20 tokens like XYO automatically. For COIN Redeem in Trust Wallet click "XYO" and "Receive" to get your public address.
Metamask https://metamask.io is a web-based wallet. If that does not show ERC20 automatically click Add Token, select Custom Token, and enter the following information:
Token Address: 0x55296f69f40ea6d20e478533c15a
Token Symbol: XYO
Decimals of Precision: 18
Other wallets:
Coinbase Wallet https://wallet.coinbase.com
Atomic Wallet https://atomicwallet.io
MyEtherWallet https://www.myetherwallet.com
KuCoin https://www.kucoin.com (select XYO from the Assets | Deposit list)
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 redemption to a KuCoin address.
Other tips: If you provide an exchange wallet or an Ethereum contract address where you do not own the private key you will lose your XYO.
Make sure you own the private key for the public wallet address you provide such as the one you would create from IDEX, MetaMask, Trust, Mist, Parity, Ethereum Wallet, Geth, or MyEtherWallet. Do not share the private key with anyone!