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 cryptowallet is compatible with any cryptocurrencies or tokens you store in it.
When you redeem COIN for XYO Tokens, ETH, BTC, or any other crypto asset, it is your responsibility to ensure your wallet address is correct and your 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.
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 for. 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 redeem.
If you provide an exchange wallet (such as KuCoin, etc), you can potentially lose your redeem because the exchange has access to your funds in order to trade them. (See KuCoin hack here). Some exchange wallets like KuCoin's 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.
KNOWN Incompatible Wallets that will NOT Work
- Coinbase Exchange https://www.coinbase.com
- Coinbase Exchange Mobile https://www.coinbase.com/mobile
If it is a regular Coinbase https://www.coinbase.com/ or their mobile version https://www.coinbase.com/mobile, that will not work with XYO and only works with their listed crypto.
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 "Ethereum" or "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: 0x55296f69f40ea6d20e478533c15a6b08b654e758
Token Symbol: XYO
Decimals of Precision: 18
Trust Wallet https://trustwallet.com
Coinbase Wallet https://wallet.coinbase.com
Atomic Wallet https://atomicwallet.io
MyEtherWallet https://www.myetherwallet.com
Metamask https://metamask.io
KuCoin https://www.kucoin.com (select XYO from the Assets | Deposit list)
If you provide an exchange wallet(such as Coinbase) or an Ethereum contract address where you do not own the private key you will lose your XYO.
Again, make sure you own the private key for the public wallet address you provide such as one you would create from IDEX, MetaMask, Trust, Mist, Parity, Ethereum Wallet, Geth, or MyEtherWallet.