IConnect has been reluctant to join in the P-REP cartel practises (see censorship below) and this indicates they are a truly an independent team. It would be an injustice for an entire content to be excluded from the ICON network. Africa has a large proportion of the world’s un-banked and Satoshi’s vision for blockchain technology was for it to be available for all.
Do we think known rogue P-REP candidates are interested in the ICON community?
Candidates like ICX Australia and UBIK Capital thought it was appropriate to “buy votes” and their sudden change of heart doesn’t make them worthy of your ICX vote.
A leopard doesn’t changes it’s spots and in our opinion anyone that votes for this candidate is just hoping to offload their ICX to new investors that haven’t seen the uncensored data we hold. With ICON trying to arrange a listing for ICX on US cryptocurrency Exchanges it’s vital that shilling is stamped out.
Is this website or the BLOC8 team associated with IConnect?
Absolutely not and the IConnect team became a P-REP candidate in March 2019. Details of their team and proposal are available on the ICON website. Outside of Africa it’s quite easy for candidates that were involved in the ICO to buy a position in the top 22 i.e. less than $160,000 required when the ICO bonus is taken into account.
Do we think P-REP candidates should also be social media moderators for the ICON network?
There is a clear conflict of interest and when a team becomes a P-REP candidate they should give up their right to moderate on social media platforms like Reddit, Twitter and Telegram.
How can the ICON community be better represented on social media platforms?
The ICON Project needs to prevent anonymous individuals from moderating social media posts. Technology exists to validate a moderators ID without exposing it to the wider internet community.
Why is censorship resistance important?
It ensures existing and potential investors of blockchain tokens are able to establish fact from fiction.
Those of you that follow us on Twitter or Telegram may already know how to spot a failing ICO but we were asked to add the details here and in the general Cryptocurrency sub Reddit. It’s widely accepted that most altcoins will ultimately fail. Some ICOs were outright scams, others were simply ill-conceived and others are years away from providing a return for their investors. Let’s get started with the 12 ways to spot a failing ICO:
Lack of direct contact between Founders and community
Reluctance to discuss the project in social media channels that they don’t have full control over i.e. constantly shot down in general Crypto sub-Reddit threads.
Banning critical thinking from their social media channels i.e. removing posts and banning users if they are not 100% positive towards the project
Arranging for individuals to be blocked from posting in ANY public Telegram groups
Arranging for individuals to be shadow blocked on Twitter
Token moon boys and P-Rep stooges try to discredit articles and videos of known influencers
Failure to build anything meaningful since ICO launch
Producing fake news to promote the project
Founders with a lack of integrity
Making the mistake of thinking everyone is in crypto for the money
Disrespecting the community that pays their salary every month
Have you spotted the ICO you invested in from the red flags above? Should you continue to hold altcoins like ICX, XRP and TRX? If 99% of altcoins are destined to fail then it’s unlikely you have picked a winner and it’s probably time to look at another blockchain project.
A few weeks earlier ICX whale Dr Ben Lee was asked by Michael Gu of BoxMining what level of transactions he hoped to achieve in the next 5 years. His answer “we are aiming for something like 500 TPS but it’s really hardto get“.
Please add your comments about the ICO you invested in or the altcoin you bought that you think might be failing. If the Founders of the associated tokens read your comments they will have the opportunity to prove without any doubt that they are not a failing ICO.
P-REP candidates have been canvassing ICONists to stake their ICX with effect from 26 August 2019. We have spent hundreds of hours over the last few months reviewing P-REP candidates. As per our earlier articles the blockchain ecosystem is riddled with bad actors and this article will highlight the P-REPs you need to avoid. As per the needlessly complex IISS 2.0 published by the ICON Foundation you risk losing 6% of your ICX if you stake with a rogue P-REP.
We have been pushing the ICON Foundation to produce documentation that the average ICONist can understand. We believe they are reluctant as it will highlight the inflationary effect of IISS 2.0 based on the current levels of transactions on their blockchain. Millions of transactions will be required everyday to counter the inflation caused by paying rewards to ICONists and P-REPs. At present the ICON blockchain shows just 7,000 to 39,000 transactions per day.
P-REPs have been accused of a whole host of unsavoury antics including:
Doxing (doxxing) innocent families – see victims Tweet
Shilling ICX to over $13 and promoting BitConnect (see Comments section)
Trying to bribe ICONists by handing over P-REP rewards
Producing fake or misleading articles about ICON
Publishing blockchain verified lies about an ICX TX Challenge contractor
Banning ICONists from social media groups without justification
Lacking integrity and showing no respect towards ICON community members
Creating cartels of P-REPs to control the network
Please note the accusations have come from various sources including fellow P-REPs and the ICON Foundation. Some P-REPs have made our list purely by demonstrating over and over again that they don’t have the required knowledge to take on the task as a block producer. Let’s look at a particular example of some of the data we hold. Telegram user Sigmoid Freud posted this fairly innocuous comment in the main ICON group a few days ago.
Within minutes the post was removed by moderators standing as P-Rep candidates. Sigmoid was of course referring to a well known article on Steemit that was heavily edited when the community rumbled what Brian Li of RHIZOME was up to. This is an archived screenshot of the original article with a reference to an insider that Brian Li was working with to shill ICX. This helped pump ICX to over $13 and that is why there are so many disgruntled token holders today.
Screenshot of article revised by Brian Li and as recorded on Steemit today. Significant differences and the unacceptable shilling has changed to marketing. Ask yourself are these really the kind of people we want controlling the ICON network? The before and after screenshots are recorded on the ICON blockchain as a permanent record of how some unfortunate investors were duped into buying ICX at grossly inflated prices.
Here is the list of P-REP candidates that do not deserve your vote based on our painstaking research. If you would like copies of the data that we hold or feel your team was unfairly included in this list please use our Contact form or add your comment below this post. Remember this is a dynamic list and P-REPs will be added and removed as they change their policies. In addition further disclosures are included in the comments section below this article. Readers should familiarise themselves with our earlier articles about ICON which we posted in the months prior to producing this list. Please be sure to review the list on a regular basis and stake you ICX accordingly. We recommend ICONists join Telegram groups that are not heavily moderated by P-Rep candidates such as this one. Also subscribe for updates to this article by clicking the bell “icon” that appears in most browsers as you read through the article.
RHIZOME (only Rhizome team should vote for this P-Rep)
Certus One (possibly stood down as a P-REP)
We do NOT invest in ICX and we have not received any payment for publishing this article. If you are looking for details of the BLOC8 DApp they can be found here. Unlike most of the DApps currently on the ICON blockchain BLOC8 can be used from smartphones and desktop PCs. Whichever teams you select for ICX staking we advise covering a large number as it keeps the teams on their toes and reduces your potential losses from token burn penalties. If rogue actors are selected as block producing P-REPs for the ICON blockchain it could have untold consequences for ICONists and the price of ICX. If you are reading this post via the homepage rather than the direct URL click Comments for feedback and latest updates.
Of course, confirmed duplication registers cannot get rewards anymore. Thank you for your support. ICON Team.
Despite your reassurances that duplicated blockchain service would not receive anymore rewards you proceeded to pay them tens of thousands of ICX on Tuesday 25th June. This is confirmed with SCORE cxef795d2e19cada777511640d591735e1cc47c471 which was created by hx976bdedbc5b7a5be2fcc59b5b6acbbc14bb5be60.
The BLOC8 project entered into a contract with the ICON Foundation to generate 20,000 transactions per day in return for 200 ICX per day. The terms of the contract stated that the Foundation would only allow any single entity to enter into a similar contract once. The payments from the ICON TX Challenge wallet shows you are in breach of the terms agreed with BLOC8.
BLOC8 has clearly demonstrated they were the best team at carrying out the stress test of your network as you desperately required for marketing purposes in Korea and elsewhere. This is evidenced in that BLOC8 was paid more ICX than any of the 246 projects stress testing the network for the Foundation.
The Foundation agreed to pay BLOC8 12,000 ICX for stress testing your network up to the 31st July. As we have only received 4,200 ICX you still owe us 7,800 ICX. Please arrange for the 7,800 ICX to be transferred to the BLOC8 project within the next 24 hours. The ICX ICON TX Challenge has brought great shame to South Korean business ICONLOOP.
Having “won” the main part of the challenge (stress testing ICON blockchain) BLOC8 must be one of the front runners in the final (minor) part of the challenge. Please show your support for the excellent work done by the BLOC8 team by upvoting their Reddit thread for the ICX ICON TX Challenge.
Tether and Bitfinex have submitted their defense against the claims of fraud made by NY Attorney General, Letitia James. Stuart Hoegner has submitted an affidavit and Zoe Phillips a Memorandum of Law. In this post we will review the assertions offered by the legal counsel for Tether and Bitfinex.
Fractional Reserve Banking
Hoegner and Phillips argue that as the Federal Reserve is only required to hold 10% of deposit funds in cash then the defendants shouldn’t need to hold 100% in cash. This is a very weak argument as the Federal Reserve holds fiat and Tether is a cryptocurrency which is expected to be traded 24 / 7. If banks have liquidity problems they can simply shut up shop for a few weeks, as they did in Cyprus in 2013 while they were waiting for an EU bailout. Legal counsel is wrongly trying to compare fiat and crypto. One reason people invest in cryptocurrencies is their distrust of fractional reserve banking so this argument hardly provides any comfort.
Legal counsel asserts that the website of Tether Ltd disclosed details of the $900 million loan facility prior to the filing by the NY Attorney General. On this basis, they argue that they didn’t try to mislead anybody regarding Tether funds. Again this is a weak argument as the Tether website, even today, states 100% backed and “from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities.” If the defendants were being open and above board they wouldn’t use the term “from time to time” and fail to disclose the size of the loan between the related parties. In the documents submitted by Hoegner and Phillips, they accept that USDT is currently only backed 74% in cash and if the full loan amount is drawn down this will fall to just 68%.
No Harm Done to Citizens of New York
The defense team argues that Tether has always been redeemable at par value and that citizens of New York have not lost any funds, to date. Effectively they are asking the Attorney General to withdraw the case until such time as Tether can’t be redeemed at par value. By that argument, if the Civil Aviation Authority knows that Boeing 737’s are not safe we should wait for a few planes to fall out of the sky before we ground them.
A lot of case law is cited, especially by Phillips, including the claim that Tether is neither a security nor a commodity and furthermore Tether is not an investment. Maybe not, when measured against traditional securities and commodities, but crypto traders use Tether as a hedge against the rise and fall of cryptocurrencies with the expectation that USDT can be redeemed on par with USD. Traders might want to consider an exchange like Coinbase until such time as the related party loan between Tether and Bitfinex is confirmed as lawful.
UPDATE 2 May 2019
The arrest of Reginald Fowler was announced Tuesday 30 April 2019 for alleged bank fraud. The indictment refers to various bank accounts held by Fowler and Global Trading Solutions LLC (GTS). For those that have still not figured this out, it is believed that GTS via Crypto Capital processed fiat transfers on behalf of Bitfinex.
A guest post by a blockchain evangelist on the BLOC8 team about the ongoing ICON TX Challenge.
The blockchain ecosystem is awash with scams and bad actors. ICO exit scams, hackers, pump and dump schemes and shilling by heavy bag holders etc. If you are ever given advice about crypto ensure you know the context of the advice. Ask how many coins they hold and the evidence to back up their claims.
I’m British and the wrong side of 40 (not a 15 year old kid). I learnt much of the basics of blockchain from fellow, dual nationality British and Greek, blockchain evangelist Andreas Antonopoulos.
As a nation Brits have a very strong sense of fair play but that’s not to say we don’t have our fair share of scammers. It sickens me to be told by a P-Rep candidate that I should play the game and join the scammers. The same P-Rep candidate and Telegram group moderator also wrote to me to say I should rejoin their groups under an alias. Absolutely no way, if I’m not welcome as BLOC8 I’m not welcome at all.
Swiss registered blockchain project ICON announced on the 4th May, via their Medium blog, the ICON TX Challenge. ICON offered 1 million ICX tokens to developers using their blockchain. The date for the challenge was set to run from 3rd June to 31st July. The 1 million tokens were to be distributed as follows:
100,000 for up to 250 teams following approval of a suitable SCORE (Smart contract on the ICON blockchain) including referral bonuses.
600,000 tokens for 60 million transactions to be processed via their chain.
300,000 tokens split equally between six teams based on the merit of their website / DApp.
With 60% of the tokens being made available for processing transactions it was obvious that ICON set the challenge primarily to stress test their network in a “real world” environment. They were also hoping to attract more developers as ICON is not known to have broad appeal to developers. Rules of the Challenge were quite clear that each team of developers could only apply once. This is to ensure tokens are allocated fairly amongst many developers rather than just a few. Each team would be allowed to process up to 20,000 transactions per day and receive 200 ICX tokens per day (reimbursed weekly) as a reward.
I expected developers from around the world to be racing to enter the challenge before the maximum of 250 entrants was reached. How wrong was I. A month after ICON’s announcement and as the challenge started just 12 teams had signed up. I tried to contact Ricky Dodds via Twitter and Reddit to ask why next to nobody was interested in the challenge. I drew a blank as he doesn’t accept contact from the crypto community so I asked ICON, via an email, to get Dodds to contact me. My email was sent to ICON 3rd June and on the 9th June Dodds (@doddric on Telegram) sent me an email with the subject “Reaching out”. My email reply to him is shown below.
A perfectly civil and simple request for ICON to adhere to the rules of their challenge. ICON only respond to their known shillers, fanboys and heavy bag holders so I wasn’t too surprised that Dodds never replied to the email. I continued to watch as more and more fake teams were added to the challenge. Rewards for processing transactions are processed on a weekly basis with the first payment made to BLOC8 on the 11th June. As tokens are transferred via the blockchain I could see that all the fake teams had also received tokens. Probably 100,000 tokens in the first week to fake teams. I contacted ICON over and over again but little or no response.
As nothing was being done by ICON I reached out to well respected community member, and P-Rep candidate, Spl3en via Telegram on the 17th June. He had also noticed that fake teams were processing transactions as part of the ICON TX Challenge. Independently we had both worked out that more than half the teams in the challenge weren’t entitled to tokens. He was in contact with Daeki Lee of ICON and I also contacted him via Telegram. On the 18th June, the day the token rewards were due to be distributed for week 2 all teams received an email to say they would be paid a day late. Finally I thought ICON had seen sense and were removing the fake teams before they distributed tokens to the legitimate teams.
I was wrong again, on the 19th June ICON distributed around 150,000 tokens to the fake teams, so now about 250,000 tokens in all. Below is a tiny extract from my chat with Spl3en, which was published online without my permission.
After this image was published online Spl3en beat a hasty track over to the forum where it had been posted. No doubt shillers, fan boys and heavy bag holders sent him to the forum as he hadn’t posted anything for 10 months. He tries to argue his Telegram chat was taken out of context but he deleted the chat session in an attempt to remove the “context”. Fortunately I had already archived the full chat log and it’s available online here. It’s clear from the image what Spl3en thought but as a P-Rep candidate he made a vain attempt to backtrack. Meanwhile I am getting abuse from the shillers, fan boys and heavy bag holders that I’m calling out ICON because I didn’t win the competition or ICON didn’t approve our application. The challenge is still ongoing and BLOC8 has received the maximum available tokens to date from ICON as evidenced by the ICON TX Challenge dashboard.
Some members of the community thought ICON was going to run a DEX but ICON were actually just writing the software for a DEX. They were hoping that someone would pick up the code and run with it but so far nobody has shown an interest in it. Could the ICON project handle another embarrassment? It’s not really important who created the fake teams for the challenge but just be aware that some legitimate teams struggled to get approved whereas over 100 trash sites were approved by ICON. It’s the shoddy way it was handled by ICON that’s the issue. As a blockchain evangelist I am simply exposing ICON for disrespecting legitimate teams and the community as a whole. Legitimate teams were “robbed” of the 250,000 tokens that ICON gave to teams that were not eligible to be in the challenge as notified to them by Spl3en, myself and others.
It’s not important what you think about awarding developers rewards for merely stress testing the network. It’s not important if you think that the legitimate teams got well rewarded or not. The issue is ICON set a challenge for the crypto community and ICON messed up BIG TIME. @Alexyos88 on Twitter included a screenshot of another post in the forum and added:
“The Tx challenge has become a bad joke – thanks to the dilettante executives from ICON.”
The forum post was asking Daeki Lee who created the 100+ fake teams?
ICON management as they were embarrassed as only 12 teams joined the challenge and they wouldn’t get the “real world” stress test that they were looking for.
Members of the ICON team thought it would be good for ICON or they wished to make a significant personal gain from the challenge.
External scammers that ICON should have known would try to game the system.
Any answer was very embarrassing for ICON. The full chat log of our discussions with Daeki Lee are available here as I also archived that before he deleted it. At this point I believe ICON went into overdrive and hastily arranged the Telegram AMA session. Having been called out Min was angry whereas he should have been apologetic. Min, Dodds and Lee were all part of the AMA.
On Monday 24th June ICON disqualified 93% of the teams that they had sent a warning to. This disqualified 81 teams but there were still several dozen more fake teams in the challenge. ICON maintains an online Google spreadsheet for teams to monitor approval, rejection or disqualification from the challenge. It is currently here and we have an offline archived copy in case it is taken down by ICON. The additional fake teams can be identified by following the blockchain transactions of this wallet.
On Tuesday 25th June I alerted Binance and the crypto community via Twitter and Telegram that the wallet needed to be locked down and I even went as far as asking for all ICX wallets to be locked down until the scammer(s) can be traced. I believe one or a few individuals now have over 300,000 ICX from the 600,000 TX part of the challenge. If you check that wallet you will see that ICON paid the fake teams associated with it 19,800 ICX on pay day 3 (25th June).
So even though ICON had disqualified them they still went ahead and handed over ICX for the previous weeks scam tx.
Remember this is pay day 3, more than three weeks into the challenge and ICON were notified by me 16 days earlier of the fake teams. Why on earth would ICON continue to pay fake teams after BLOC8 had already gone public with the issue? Look back at Spl3en’s chat comment “But I wouldn’t be surprised at all if most of the traffic is originated from them, directly or indirectly, and not from external developpers”. Note the word indirectly. To process 140,000 tx per week each team needs to spend around 224 ICX, and be reimbursed 1400 ICX. If you are running over 100 fake teams you need to spend over 22,400 ICX and receive at least 140,000 ICX “reward” from ICON.
If ICON agreed with an external individual / group to indirectly process tx for them during the challenge they would be “honour” bound to keep handing over the ICX “rewards”. Based on the analysis I have done I am calling for Daeki Lee to stand down with immediate affect and a full apology from ICON for the shambles of a challenge.
In conclusion, don’t simply believe anything you hear from ICON and their devoted team of shillers and P-Reps. Do your own research as they might not be working in your best interests. A few days after the AMA Min tweeted #ChangeIsComing and then immediately blocked well known community member, BittBurger. Please feel free to add your comments here but make them factual. I don’t eat babies for breakfast or have two heads despite what the ICON “team” will tell you. Comments confirm 216,000 went from ICON TX challenge wallet to 2 wallet holders and can be verified on the ICON blockchain. The ICON TX Challenge has proved very challenging so far for ICON.
Access to cryptocurrency tokens, like BitUnits, on the Ethereum Classic (ETC) blockchain, is made available with public and private key cryptography. As the name suggests the public key can be made available to anyone as it works as a pair with the private key to secure your assets.
If you are already familiar with MyEtherWallet (MEW) or the Saturn wallet you might want to “transfer” your crypto tokens into the user-friendly Trust wallet. Wallets don’t actually hold tokens but they provide a facility to control access to the tokens on the blockchain. So the transfer is passing authority from one wallet to another, rather than the actual tokens. You will need your private key from MEW or Saturn to give this authority to the Trust Wallet. Below are the steps you need to complete in the Trust Wallet.
Import Private Key from MyEtherWallet or Saturn Into Trust
We have provided links to the Trust Wallet website in a previous article and this, in turn, gives the links to install the app on your iPhone or Android phone. Once you have installed the app it will bring up the following screens. Select IMPORT WALLET and on the next screen select the Ethereum Classic network.
You will then be shown a screen containing four tabs marked as PHRASE, KEYSTORE JSON, PRIVATE KEY and ADDRESS. For security purposes the app prevents screenshots being taken at this stage so we can’t provide an image here. Click the PRIVATE KEY tab and you can paste in your private key or use the QR code scanner. Now click the IMPORT button and your phone will now have authority to transfer tokens via the blockchain.
Never ever make your private key available to third parties as this will give them access to your tokens and once they move the tokens to their address it will be impossible for you to recover them. If you have any technical questions you can contact the Trust wallet team in their Telegram group which currently has close to 10,000 members.
Before you set off to transfer BitUnits to a DEX to cash out understand that optimum returns for most investments require they are held over the longer term. HODL your crypto tokens and this applies to BitUnits. You should be looking at keeping hold of the tokens for upwards of five years. Just looks at how far bitcoin has come in ten years, and this is what BitUnits Club developer Issa Clunie, had to say about cashing out to fiat.
“Cashing out of crypto to go to the dying banking fiat currency is like taking a PS4 and trading it for a PS1.“
Inevitably there will be the weak hands that sell too early and live to regret it, and this guide is aimed at them. Most of the BitUnits were airdropped into Trust wallets, but a Saturn wallet is required to trade on their DEX. In the last article in the series, we covered the different types of trades available on Saturn, and this is a follow-up piece.
An article on cross-browser and mobile support was published in September 2018 by the Saturn team. We will concentrate on the Firefox browser as the Saturn wallet works on mobile as well as desktop with this browser. In Saturn’s article, they provide a link to the Firefox extension for the wallet, but it is also available here.
Setting up the Saturn Wallet to Transfer BitUnits
If the Firefox extension doesn’t take you straight to the wallet set up screen look for a menu item in the browser settings marked as Saturn Wallet. It will generate a random 12-word seed, and you will also need to set a secure password. Be sure to keep the seed and password available in case you need to restore the wallet to a new phone etc.
Ensure you have ETC network selected from the dropdown list at the top left of the web browser. We are now ready to add the UNITS token to the Saturn wallet. It will look like this screenshot to the left, but the ETC and Saturn tokens will be at zero unless you have imported an existing Saturn wallet with tokens. Click ADD TOKEN button and paste in the BitUnits smart contract address, as shown on their website.
The smart contracts address: 0xd1c10d433c888e6d1841ff924d0ce45157f0d5cd is the Token Contract Address and when you enter this address into the Saturn wallet it should populate Token Symbol with the word UNITS and set Decimals of Precision to 6.
Make a note of the address for the ETC and BitUnits (just one address) in the Saturn wallet and send the tokens you have in the Trust wallet. You will need less than 0.001 ETC to set the gas to transfer BitUnits from wallet to wallet. If you don’t have any ETC you will need to buy some or ask a crypto friend if they will send some to your Trust wallet.
You are now ready to trade on the Saturn network DEX. If you trade UNITS for ETC you can keep the ETC in your Saturn wallet or send them to your Trust wallet. As Saturn is providing a true decentralized exchange, where you are in control of your private key, it is safe to keep your digital assets in the Saturn wallet indefinitely. This is not the case for most of the exchanges operating today like Binance. If a regular exchange gets hacked, and they do with alarming regularity, you stand to lose all your tokens.
Earlier today the BitUnits cryptocurrency token began trading on the Saturn network decentralized exchange (DEX). Trading is performed directly between the DEX and the Saturn proprietary digital token controller (SPDTC or more commonly known as a digital wallet). I don’t like the term wallet because it gives the impression that it contains the tokens whereas it simply gives access to them on the respective blockchains.
The Saturn network is currently available for Ethereum Classic (ETC) tokens, and we are lead to believe it will include the Ethereum network within the next seven days. The DEX looks to be running well, and we were able to trade with Firefox on our Android phone, but it was a lot more straightforward on our laptop. Below is a screenshot of the SPDTC (wallet) and the DEX which we took on our smartphone.
What we were really impressed with was that the team behind the DEX were up and running almost 24 hours ahead of schedule. The crypto space is full of missed deadlines and meaningless whitepapers, so it came as a pleasant surprise to find a team ahead of the game. I also liked this promotional video that was produced in the run-up to the Saturn DEX release.
Firefox is available for iOS 10.3 so in theory, the Saturn DEX can be used on the newer iPhones, but it might be worth waiting until the site is a little more mobile friendly, especially if you already have access to a desktop system.
BitUnits is an ERC223 token with a fixed supply of 10,000,000 and a stock ticker of UNITS. The philosophy behind the BitUnits club can be found on their website and within their whitepaper, but in short, it is to educate individuals that are new to crypto. What better way to learn crypto than with FREE tokens and from a team dedicated to bringing blockchain to the masses?
5,000,000 BitUnits tokens have been airdropped to crypto enthusiasts over the last few weeks. The team used a variety of methods to distribute the tokens, and all of them had some element of learning about crypto from “hacking” wallets, crypto bingo through to educational surveys, etc. Lots more to come regarding the BitUnits club in the coming months but one of the crypto puzzles I was very successful with was the Trust wallet “hacks”. The Trust wallet was recently taken over by the “number one” centralized exchange Binance and the wallet is developing at a rapid pace. Binance is also working on their own DEX, but Saturn is the one we would recommend at the moment.
The screenshot to the left is the Trust wallet and to use the Saturn DEX the UNITS have first to be sent to the SPDTC. For individuals new to crypto the Trust wallet is much easier to use than the SPDTC, and this is why the BitUnits team airdropped the tokens into this wallet. Trust is a smartphone app, available for Android and iOS rather than the browser extension wallet as provided by the Saturn team.
Fingers crossed, Saturn will make their wallet easier to use on a smartphone as there are many people around the world that don’t have a PC and sharing one is not very practical based on the security required to trade tokens.
We will put together a more detailed breakdown of how to move BitUnits from one wallet to another in due course, but meanwhile, if you have any questions or comments, please post them below or in the BitUnits Telegram group.
Financial disclosure – as shown in the wallets above I hold BitUnits and other cryptocurrencies. If you found this article informative, you can donate BitUnits or ETC to the address shown below, thanks.