FAQ
- What is the PointPay Launchpad?
The PointPay Launchpad allows early-adopter investors to invest in promising cryptocurrency projects. PointPay's goal is to support the crypto economy by giving our customers priority access to emerging quality projects.
- What is the difference between a "Coin" and a "Token"?
The following characteristics define a coin:
- Coin operates on its own blockchain. Blockchains record every transaction that involves that particular crypto coin.
- Coin acts as money. Bitcoin, for instance, was created to replace traditional money.
- Coins can be mined. For example, Bitcoin works on the Proof of Work consensus algorithm to validate transactions and mine new tokens.
Tokens do not have their own blockchain. They operate on the blockchain of other cryptocurrencies, such as Ethereum. Some of the most notable tokens on Ethereum are BAT, BNT, Tether, etc. While crypto coin transactions are conducted on the blockchain, the tokens rely on smart contracts. Smart contracts facilitate trades or payments between users, depending on which blockchain the user is using. Each blockchain uses its own smart contract. For example, Ethereum uses ERC-20, and Binance Smart Chain uses BEP-20.
- What are the criteria for cryptocurrency to be listed on the exchange?
Our team performs due diligence before publishing a project on the PointPay Launchpad to ensure that our users are not victims of fraud. Click on the link to find the position with the key indicators: ---
- What are a soft cap and a hard cap?
A soft cap is the minimum amount of capital a company is willing to raise. The maximum amount of capital a project seeks in exchange for its tokens in the early funding stages is called a hard cap. When it is said that a project has reached its hard cap, it means that the tokens for that round have sold out, and the team will not accept any further funding. The hard cap is essential for two reasons. First, the scarcity of a project's tokens makes the project valuable. In addition, an appropriate hard cap protects the integrity and value of the underlying project by preventing large dumps of tokens onto exchanges. Second, a hard cap is closely linked to the roadmap of an underlying project.
What other indicators can I see for the project I need?
Each project must indicate
- Total Token Supply
- The total supply means the number of coins or tokens that currently exist. They are either in circulation or blocked. This is the sum of coins already mined minus destroyed coins (if any).
- Tokens Offered
- The number of tokens that users can purchase under the current ICO
- Project Valuation
This is an investment appraisal of the project. In other words, this is the amount of funds raised, according to which a decision is made to expand, wait or stop the project.
Participants
The number of people who have already become owners of the token within the current ICO on our platform. This is not the number of purchases, since each participant can buy a token more than 1 time.
- Accumulated Sum
- Every day we summarize the investments in the project and understand how successful this day was. The graph shows the dynamics of these partial sums. The graph clearly shows how quickly investments in the project can grow.
- Accumulated % today
This is an indicator by which you can evaluate the dynamics of investment growth over the past day.
- How can I fund my purchase?
You can deposit any supported asset into your Spot account. Once your funds are in your Spot account, you can immediately purchase the token you want on the PointPay Launchpad. You can buy tokens with any cryptocurrency supported by the PointPay platform.
If your wallet balance is insufficient, you can either buy digital assets with fiat or cryptocurrencies through one of the payment providers or transfer money from another wallet. - Buy crypto with fiat/crypto on the PointPay Platform
Visit our website https://exchange.pointpay.io/
Log in to your PointPay account
Go to the Crypto payment system page: https://exchange.pointpay.io/buy-crypto
Choose the cryptocurrency you want to buy and type the amount. Click “Continue”
Choose the account you want to deposit and the payment method. Click “Continue”
Choose one of the payment providers. If your wallet balance is insufficient, you can either buy digital assets with fiat or cryptocurrencies through one of the payment providers or transfer money from another wallet.
After you complete your purchase, go to your wallet https://exchange.pointpay.io/vault/capital-account to check your account balance.
- How to participate in the token sale on the PointPay Launchpad?
Choose the project
View the list of all active token sales and select the project you want to participate in. Once you click on "Read more," you will be redirected to the project page. There you can learn more about the project, the team, and the fund's goals.Prepare your wallet
You should either buy crypto or transfer it to your Regular account before making any purchase. You need to consider the volatility of the particular cryptocurrency. You might consider funding your wallet with stablecoin if you want to predict the exact amount of tokens that you would be able to buy.Participate in sale
Define the investment amount and the cryptocurrency you would like to invest in. Click the “ Buy tokens” button and confirm your purchase. That’s it! Your tokens will be distributed to your wallet on the PointPay platform once they will be released. - I'm buying a token. What's next?
You invest in the project, so you provide funds for its development. Your investment at an early stage assumes (but is not a guarantee) that it will be profitable in the future.
After the token is launched, you can hold it, transfer it, sell it or make any kind of transaction possible. Although the value of a cryptocurrency often grows after it hits the market, this growth depends on the demand for a particular asset. We encourage you to do your own research before investing in an asset.
- Why are there always fewer tokens offered than the total supply of tokens?
Each project team distributes tokens based on their own tokenomics model, project roadmap, etc. The project team may allocate tokens for various purposes, such as incentivizing team members, rewarding contributors to the project, maintaining liquidity on decentralized exchanges (DEXes), etc. In some cases, a portion of the tokens may be distributed among community members or sold in future sales rounds.
- Are there any limits on the number of tokens I can buy?
The maximum dollar value of each purchase has been capped at $500 to encourage participation and welcome new community members. It also prevents the accumulation of a large number of tokens in the hands of several investors, which will eliminate price manipulation in the future.
- What is the project valuation based on?
Project valuation is based on market capitalization. Similar to the stock market, the market cap refers to the total dollar market value of the tokens in circulation for a given project. It is calculated by multiplying the total number of project tokens in circulation by the current market price of one token.
- Can I return or sell the token before it is launched? What operations are generally available to me?
Operations with the token are not available until the token is launched. The team takes this time to bring the token to the exchange and provide it for trading. You can buy tokens if you like a particular project and you are waiting for high results. Other operations with tokens before the release are limited.
- What is PointPay Voting platform?
Our voting platform allows you to discover a promising project and give it a chance to be listed on the exchange. The projects, in turn, will be able to provide special conditions for their early followers.
- How it works
- You will find an announcement about the start of voting for the coin on our social media pages, on the PointPay blog, or on the voting page in the "Upcoming" section.
- You will have the opportunity to study the information on the PointPay website, as well as on external resources, and ask questions (find out all the details on the project pages that will appear in our chart).
- After voting starts, you can vote for the coin. As a vote, you will put up your PXP. More PXP means more votes. Each project has its own minimum and maximum amount to vote.
- Each project has a particular target for the number of PXP. Only 100% or more realization gives the project the right to proceed to the next rounds. However, it doesn't mean you will lose your PXP. If the project does not go further, you will get your PXP in full. We are doing our best to support each project and hope the project you vote for will be successful.
- To participate in voting, you should store your PXP in the Spot account. If you don’t have PXP, you can deposit funds into your account using any available method.
- Before the end of the first round, you can vote once again (or even more than once), as well as add more coins. Unfortunately, you cannot get them back for free use during the first round. You will see them in your balance, but it will be impossible to conduct transactions, using them. They are usually frozen for a period of 5 to 21 days.
- After that, the project announces the second voting round - staking. It is optional, but often used to reward the followers. You can see the description of the rules in advance on the project page.
- Staking means locking PXP for some more time. As a result, the user gets all their coins back and some reward from the project (also in the project's native coins). Usually, users earn a fixed reward for each day of staking.
- You can withdraw your coins earlier (the return operation is available in the wallet opposite the locked coins), but the reward will be calculated at a reduced percentage.
- All voting process operations are free of fees.
- What is KYC?
PointPay implemented the Know Your Customer (KYC) procedure on the platform. This standard due diligence process helps prevent identity theft, money laundering, financial fraud, and other financial crimes.
We have two-tier identification policy - when KYC is not completed and when it is not completed.
Each tier of identification provides a different level of access to financial instruments on the PointPay platform. You may be restricted from certain activities on the PointPay platform until you have completed full identification. For instance, users without KYC are not able to make withdrawals and use Crypto Payment System to sell crypto.
- What is AML?
Anti-money laundering (AML) acts as a system of measures and rules that help prevent the use of money for various types of financial crimes, such as bribery and corruption, tax evasion, etc. Nowadays, global regulators are trying to curb the use of cryptocurrencies for illegal activities by implementing anti-money laundering laws.
A financial institution must adhere to AML policies that are compliant with its domestic AML regulations. These policies typically include KYC procedures, risk-based AML measures, ongoing risk assessment and monitoring, training for company employees, internal audits, and controls
- Can I participate in the sale without going through KYC?
Yes. Provided that your total investment in the Launchpad project does not exceed 1000 USD, otherwise KYC/AML verification is required.
- Residents from what countries are unable to participate in token sales on the PointPay Launchpad?
The PointPay community is committed to complying with all relevant regulatory guidelines. Therefore, we will not be able to offer tokens for sale to potential participants from unsupported countries during the token launch. Sanctioned countries currently include the Balkans, Belarus, Burma, Côte d'Ivoire, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, and Zimbabwe.
- Are there any risks of purchasing virtual currencies?
Before investing in a virtual asset, you should consider the following risks, among others:
- Virtual currencies do not have legal tender status in any jurisdiction, and any government agency does not insure accounts and value balances.
- There is a risk that legal and regulatory changes or actions at the state, federal or international level may adversely affect virtual currencies' use, transfer, exchange, and value.
- Transactions with virtual currencies can be irreversible, so you may not be able to recover losses incurred through fraudulent or accidental transactions;
- The value of a cryptocurrency may result from the continued willingness of customers to exchange fiat currency for it, resulting in a potentially permanent and complete loss of value if the market for that cryptocurrency disappears;
- The value of a virtual currency can be highly volatile, resulting in significant losses in a short period of time