Following the latest round of new features, including VAULT Prime, in late 2019, VAULT.Investments are ready to ramp up and introduce the first generation of their Marketplace features. The first feature is called Coin Swap. Read on to see what it is and how it works!
The new feature is called Coin Swap
VAULT.Investments will be introducing this new feature as part of the Marketplace. The Marketplace is the umbrella placeholder that will be holding features that investors on the platform will be able to utilize when expanding or modifying their investment portfolio.
The first such feature that will be released under this umbrella is the Coin Swap feature. We all know what it is like, to have an investment on the platform that you want to increase your holdings of. Typically you will need to transfer BTC to the exchange of your choice, buy coins of the project you want to increase your holdings of, and as a final step you need to transfer the newly acquired coins to the VAULT.Investments platform where it can accumulate rewards.
VAULT.Investmens is now introducing the Coin Swap feature. Initially, it will be limited to swapping coins from BTC to any coin listed on the platform, but we are looking at ways to increase the number of coins that can be used to swap from. Eventually, this could make it the ideal place for users to swap their coins and rewards for something else of their liking. For now, it will be limited for coins swaps from Bitcoin to any coin available on the VAULT.Investments platform.
The first thing you do is fund your Bitcoin wallet
Before you can get started with the Coin Swap feature, you need to make sure there is Bitcoin in your wallet. If you are not already logged into the VAULT.Investments platform, then do it now. Then click on your username on the top right corner to fold out the menu as shown below:
The top item in the menu is the Bitcoin balance that you currently have on the platform, which can be used to swap for any coin listed. Clicking on the Bitcoin amount in the menu will take you to the Bitcoin deposit and Withdrawal window as shown below:
The window looks similar to the familiar deposit and withdraw screens elsewhere on the platform. Depositing will only require you to copy the deposit address, by clicking on the blue button and paste it in the wallet you will be transferring the Bitcoin from. After 3 confirmations, the Bitcoin will show as deposited in your wallet.
It should be noted that BTC withdrawals are initiated from the same panel. Similar to withdrawing other coins from the platform, you need to specify the withdrawal address first by clicking on “Set Withdrawal address”. Once an address has been set, the button will be replaced by a simple “Withdraw” button. The “Withdraw” button will open a dialog box that will allow for the amount to be withdrawn to be specified, accompanied with 2FA validation if enabled on the account. VAULT.Investments recommend that 2FA is enabled to provide maximum protection for the account.
The window shows the Bitcoin deposits and withdrawals history as well as coin swaps that have taken place for your reference. It will show when the transaction took place and which amounts were deposited, withdrawn or swapped for each.
Once your Bitcoin wallet is funded, you are ready to swap!
A charged Bitcoin wallet will open the doors to expanding your collection of coins and holdings on the VAULT.Investments platform. From the main project list, you can now select any project with an active “Swap” button at the right-hand side of the screen to open a dialog box that will allow you to swap coins for BTC.
The dialog box looks as shown below:
The options are available as follows:
From coin type: This is the currency you want to use to swap for another currency. This will currently only be BTC but there might be other coins listed on our platform in the future.
From amount: Here you enter the number of coins you want to swap with. Once you click in the To amount field it will update how many coins you will receive once the swap completes using the estimated swap rate.
Estimated swap rate: The estimated swap rate is the current rate at which coins will be swapped.
To coin type: This coin type can be any of the coins listed on our platform, provided that coins are available to be swapped. By changing this to another coin type you can actually change your mind if you initially wanted to get some VAULT but now instead want some GBX.
To amount: This number will be populated automatically when you enter the from amount field. However, you can also specify the number of coins you want to receive here which will cause the amount on the left to be changed according to the estimated swap rate.
Maximum: You can at any time press the Maximum <from> or Maximum <to> links and it will populate the associated field with the maximum available coins available for the swap.
Add BTC: This link can be used to navigate quickly to the screen to add Bitcoin, in case you do not have enough and need to add more.
Slider: The slider shown above the swap rate can be used to quickly specify an amount you want to swap. Sliding the swap to the middle of the scale will let you swap half of your BTC for the desired coin specified.
Checkbox: This checkbox has to be checked before the “Swap Now” button is enabled. By checking his box you accept our Terms and Conditions that apply to the Coin Swap. You can read the Terms and Conditions by clicking on the link.
Swap Now button: The Swap Now button becomes available once the checkbox is selected. Clicking the checkbox will start the swap. In this case, BTC is deducted and your balance of coin type specified on the right is increased.
You will now be returned to the main list of coins, from where you can use the Coin Swap feature again on any listings where the Swap button is enabled.
And voila, your holdings have been increased…
There is nothing more to it. Your new holdings will start collecting rewards immediately. Similar to a deposit, the coins will be locked for 12 hours before they are available for withdrawal. The reasons for this are similar to delaying a withdrawal after a deposit. Since the new coins qualify for rewards immediately and could technically receive rewards 5 minutes after the coin swap, we make sure they stay in the account for the minimum time required to receive a reward which normally is every 12 hours.
A final word
We hope this new feature will be the first brick of many that will be the foundation of many new features to come. VAULT.Investments want to make investments in crypto more fun, more pleasant, and easier while at the same time making it a safer environment to invest in.
VAULT.Investments would like to remind everyone that VAULT.Investments do not promote or endorse any projects or pools outside their protection and investors should always DYOR and invest only what they can afford to lose. CRYO is the next generation of masternode projects, where presale masternodes can’t be dumped.