Much appreciated @PrestoCrypto I told them once they pick up the Simcard I will explain to them in more detail as to how to top up their sim using their app.
They were so excited they went to Clicks today to pickup Simcard before even receiving the sms to tell them it is ready for collection so I told them to wait first for confirmation Lol.
I have explained and covered most basis of how to’s, they seemed okey with everything but knowing I am only a phone call away when help is needed. Once they use it for themselves I believe the experience and confidence will grow and they will then see for themselves how easy it is and spread the word to colleges and friends, etc.
Hi all. I installed the ETN app on a new mobile phone a few days ago. Now i get only 0.01 ETN per hour, but first days after i installed i get 0.09 or 0.1 ETN in a hour. Should i open ticket or is just a temporary problem?
My account is verified kyc level 3, and also both selfie send for cloud mining
hello, what is the prob. I got Wifi and i also know my etn balance sås över 100 etn and no transfer to my etn electroneum Wallet.
Somebody with the same prob?
That message shows up often if you habe leftb.v the app running in the background. Its lmost like it goes offline like banking apps if you are not using it. That doesnt mean your mining has stopped orvthat your 100 ETN will not be transfered. Since itscloud mining it always works with or without internet. Many users have said they have not gotten their 100 ETN shortly after getting to 100. They now have 104,110,120,etc while many have recieved it almost instany. Not yet sure if it is a bug or the speed depends on your region or something else. Support tickets have been filed but you can open one too.
I’ve read these updated T&C, and it has some very unclear parts.
Firstly, “Value of current balance of ETN in your Online or Offline Wallets plus the cumulative value received by you in the preceding 3 months.”. Does this means that now you need KYC for paper wallets too (I really don’t know what else could be an Offline wallet)?
Secondly, “If it appears that you are accessing or attempting to access the Services and Digital Content from a country which is, from time to time, designated as a “high-risk third country” by the European Commission or as a “high risk and other monitored jurisdiction” by the Financial Action Task Force (FATF), we may temporarily or permanently withdraw your right to use the Services and Digital Content (or any part of them) without liability to you.”. In other words, it doesn’t matter weather you’ve completed KYC or not, if the country you live in goes on the list of high risk countries (whatever that means), they remain the right to confiscate all your money (even though you have nothing to do with that high risk part, except living there). I would like someone to prove me wrong about the second quote.
I think the offline wallet bit might relate to future functionality for cold storage within the app. This is something Richard has eluded to in the past.
The second point is to do with international law; there are certain countries that people are not allowed to transact with - period. If you are in one of those countries, you are not entitled to certain financial services. If you try to access your funds while in one of those countries, the financial service provider is required to freeze your assets.
Lets say you were visiting Country A which is sanctioned, your funds could be frozen by Electroneum. If you live in that country, it might be that your account will be frozen forever or until such time the sanctions are lifted.
There are also sanctioned entities that are not allowed to transact in certain countries and I hope the team are screening for these too. It might be that regardless of where you are, you might not be able to access Electroneum’s service.
Your point 2 is commonly referred to as Watch List Filtering and companies such as Dow Jones and WorldCheck provide lists updated daily with people/countries/assets that need to be monitored.
I think it actually does mean paper or cli also.
But I’d say that would be a difficult thing to implement. Nothing stopping anyone sending and receiving to and from CLI/paper to exchanges or even custodial wallets. I’m wondering if this aspect of our blockchain prevents a truly KYC compliant coin. So currently only the app / web wallets are KYC compliant.
Exchanges are typically protected by KYC - certainly the larger ones. When the team does introduce cold storage, I wonder if they will remove the ability for paper/cli wallets??
Once mass adoption is then reached, remove any non-KYC compliant exchanges??
So, basically, I should check all the lists of high-risks countries daily - but even that might not be enough. If my country gets to the list, I will be the one sanctioned, and not the country. They will take my money, because, today (not really today, just an example), someone made a decision that my country is high-risk one. Great! But thank you for your answer.
Well, for me, this is just a signal to run away from ETN as fast as possible. Besides all the insecurity crypto in general brings, ETN introduces a way to lose, not part of the value, but all of it, because of something you don’t have control over.
Just to be clear, Electroneum does not make these lists - these are publicly visible lists that are set by United Nations. All this clause means is that they could check these lists. If your country is on one of these lists, your day-to-day banking will be more affected, your ability to operate your daily life will be impacted as other countries wouldn’t be able to send cars/food/building materials to your country. Adding countries to these lists is not taken lightly and is usually the result of some extreme wrong-doing or mistreatment of its population.
Please don’t over-exaggerate this completely standard clause in all financial products. In investing in ETN, you have chosen to be an early adopter in a regulated crypto. If you have a bank account / car loan / mortgage, you have already agreed to these terms and conditions and will you be cancelling those products too? As regulation becomes more prevalent in crypto, every other coin that embraces KYC will need to comply.
I haven’t said they are making these lists. But it’s their decision to enforce KYC, something that nobody mentioned when I was buying ETN - about a year ago. And, at least for me, the idea of crypto is to be free from all these restraints that banks enforce, not to be even more restrained. I had to invest a lot more time into ETN’s KYC than I had to invest to get a loan from international bank that operates here. Anyway, this is just my opinion.
Only you can decide which investments are right for you and no one here will give you investment advice.
I don’t know where you live and what the likelihood of your country experiencing sanctions is and that is something you’ll need to figure out.
I do agree that the KYC process Electroneum has implemented is a bit more difficult than getting products in the real world but when you got your loan, the bank was geared up to only accept your country’s ID - Electroneum is global and needed to find a single solution that meets everyone’s ID requirements with the minimum friction possible. To be honest, I think they’ve done a very good job at servicing as many people as they have.
I honestly believe that Electroneum are pioneering the path that all other cryptos will follow if they want to be anything more than vaporware in the coming years so if you decide to cash out and try something else, I think you’ll experience the same issues elsewhere.
" had to invest a lot more time into ETN’s KYC than I had to invest to get a loan from international bank that operates here. "
Right…I have taken out and paid off many a loan. I can tell you the KYC that ETN is asking for in no way required more time than getting a loan. Are you serious?? take your FUD somewhere else.
so I told them to wait first for confirmation Lol.
