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YNG Token: October 2022 – January 2023 Report

Token Young (YNG): updates and news Q2 2024

Here’s the second report on YNG since its market launch. Find out about its distribution and upcoming news on Young Platform

On 1 June 2022, the YNG token was released on the market and thus began to vary in price according to supply and demand. At the same time, Young Platform Clubs were born, which can be accessed precisely by blocking a certain amount of tokens. The first report came after four months, so at the beginning of February we collected data from the second four months of the token’s life. See the results below.

Club Membership

At the moment, 1214 people participate in the clubs, divided into: 

  • 903 for the Bronze Club;
  • 174 for the Silver Club;
  • 92 for the Gold Club;
  • 45 for the Platinum Club.

Compared to the last report, the growth is +19.1%. Consider that the greater the number of tokens locked in Clubs, the lower the sales pressure and thus the tendency of the price to drop. Club participation is therefore one of the parameters to consider in order to understand the demand for YNG.

Distribution of the YNG token

The number of tokens in circulation as of October was 18.43M. The availability in circulation as of today (February 2023) is about 20.5 million, which means that there was a net increase of 1.7M tokens, or 11.4%. 

These tokens were distributed via the Young Platform Step app in different ways: 

  • 41,144.8 through the completion of Quizzes by 56,748 users;
  • 1,554,524.31 through rewards for 153,054 users;
  • 498,101.85 through the use of the ‘Up&Down’ function by 143,892 users.

The market for the YNG token and its exchange rate with the euro is regulated by an algorithm, thanks to two liquidity pools. Initially, these pools contained:

  • 1M Euro;
  • 4M YNG.

Considering the sales and purchases of tokens handled in recent months, at the end of January 2023 the pools contained:

  • 682.8k Euro;
  • 6.11M YNG.

Regarding the YNG-EUR pair, these were the movements that led to the change in liquidity in the pools:

yng token

Future Objectives

Finally, for transparency, here’s an update on the objectives listed in the last report. 

  • Airdrops&Vouchers: The first distribution of vouchers planned for Club subscribers was successfully concluded. Specifically, the promotional campaign in cooperation with Unstoppable Domains was completed in November, thanks to which we distributed free credits to all club members to purchase their own Web3 domain. The next event is planned for this quarter and will once again feature a Web3 domain project.
  • CoinMarketCap and CoinGecko: during the last quarter of 2022, we made some changes to the integration with our liquidity providers and market makers, with the aim of streamlining order entry in the order book. This resulted in changes to the structure of some API calls requested by the two aggregators. We have resubmitted the requested information and are awaiting updates. 
  • Earning Wallet: during the last quarter of 2022, we had to discontinue the service due to the crisis affecting FTX and its customers. Being the main benefit of the Clubs, we prioritised the development of the new version.
    We are evaluating, in addition to providers of services based on Lending and Borrowing, also solutions based on self-hosting of nodes and liquid staking of tokens. This functionality is planned to be developed between the end of Q1 2023 and the second quarter of the year.
  • Debit Card: due to the prioritisation of the development of the new version of the Earning Wallet, the deadline for issuing debit cards was postponed by one quarter. 
  • Third-party exchange listing: Between the end of Q1 and Q2 2023, we will reopen all negotiation tables to list the token on third-party exchanges. To accomplish this, it remains crucial to have supporting volumes on the YNG-EUR pair.
  • Buyback: In the last report we anticipated that we would present buyback operations. Unfortunately, the market was hit by the FTX crisis and the company decided to prioritise the management and protection of all those who had an active Earning Wallet, taking time away from structuring the projects in this report, including the buybacks. At the beginning of the year, we took over the planning and are finalising the rationale and plan for the buybacks. In order to make individual buybacks as rational as possible, we are planning operations that are directly linked to the metrics of the YNG-EUR pair currently on the platform (e.g. tokens bought by users, tokens sold and tokens from Steps). This is to achieve campaigns that incentivise the organic growth of the pair’s volume and avoid inefficient repurchase plans for the market price. 
  • The remaining objectives presented in the last report were mainly dedicated to our community, and to improving services and the experience for Club members. 
    • Monthly market reports: since 2023, all club members have received a monthly report summarising the most influential events that occurred in the previous month and analysing the market highlights, this benefit will be developed based on their feedback;
    • Merchandising: In December, we sent all Platinum and Gold Club members a package containing Young Platform merchandising. 
    • Promo Wallet: Young Platform’s promo wallet was successfully released, which will allow users to receive promotions to use on the platform, including discounts on deposits and withdrawals for Club subscribers. 
    • Club section of Discord: We are structuring the server in such a way that Club subscribers can join a reserved channel for Q&As with the team.

In addition to these token-related objectives, here is a brief overview of features under consideration and development for the first half of 2023: 

  • Moneybox: We are working on improving the current Moneybox, not only in terms of available cryptos, but also in terms of applicable automations.
  • Monthly club membership payment: currently, a club membership lasts for a minimum of 90 days during which YNG tokens remain locked. In order to manage membership more flexibly and to support tokenomics of the token, monthly payment of membership will also be activated as an option, again with YNG. During the first half of 2023, the first tests in this direction will be started.
  • Price movements alerts: In order to improve the monitoring of price movements of crypto holdings, we think it is essential to be able to be alerted as soon as a crypto reaches a certain price. For this reason, as anticipated months ago, we are finally structuring the functionality that will allow you to be alerted as soon as a held crypto reaches a price point. 
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A crypto donation for Save the Children

Save the Children: how to donate through Young Platform

You can now donate to Save the Children through Young Platform. Here’s how to do it

The smallest unit of BTC is called a satoshi and it corresponds to one hundred millionth of a Bitcoin. It is a very tiny figure. To give you the idea, let’s write it down with all the zeros: 0.00000001. It is said that small things can change a life: smiling at strangers, eating pizza with friends, children. Maybe even a satoshi.

You can now use your crypto to send donations to Save the Children Italia Onlus via the Young Platform app.

This Christmas, save their future

This collaboration comes at a special time of year. On the occasion of Christmas, Save the Children Italia Onlus launched a campaign to collect donations for children in conflict zones, such as Syria or Yemen. We are happy to announce that Young Platform has been chosen as its official partner to make it easier for those wishing to make crypto donations.

Worldwide, 1 out of 6 children live in a war zone. With the ongoing conflict in Ukraine, another 7.5 million children have been added to the tally. The funds raised through this initiative will be used to recover food supplies (a family needs 41€ for a fortnight), personal hygiene kits or school supplies (a package to educate eleven children is worth 275€). We at Young Platform are renewing the path taken in the field of charity, specifically those dedicated to children.

Why donate through crypto?

We know that cryptocurrencies are not physical coins, but they can still do a lot. Lately, their reputation has not been great. Chances are, you’ve heard on the news that crypto is a dangerous game. One played by kids who fiddle with their PCs and then scam thousands of people. Even if someone is using blockchain technology for these questionable purposes, there are also virtuous examples of how cryptos can be useful and have an impact on people’s lives.

When Ukraine was invaded in late February, for the first time in history, a nation publicly called for crypto donations when its banking system was beginning to collapse. Millions and millions of coins and tokens, including NFTs, arrived from all over the world to help people cornered by war. Cryptocurrency donations are borderless, they can be made anywhere and they go everywhere. Even to those without a bank account. Also in the case of Save the Children, crypto donations made with Young Platform will make an important project come true.

How do donations work?

You can make crypto donations to Save the Children Italy with a simple withdrawal. Here are all the steps you need to take.

Before you start, open this link to the NGO’s website and choose the crypto you want to donate from all those available. The wallet address will appear in the form of an alphanumeric code and as a QR code. Bitcoin, Ethereum, Ethereum PoW, Cardano, Polygon, USDT, USDC and Tezos are available.

  1. Open the Young Platform app in the Wallet section;
  2. From the central button ⇆, select ‘Withdraw – send funds in euro and crypto’;
  3. Choose a cryptocurrency, select the amount and click ‘Continue’;
  4. Paste the Save the Children wallet address you copied from the link provided or scan the QR code. We advise you not to type in the address manually to avoid mistakes and remember to only select the address of the crypto you want to donate! To donate Bitcoin you need a Bitcoin address, for Ether you need an Ethereum address and so on.
  5. Confirm the withdrawal via the e-mail you will receive at your address.

If you want to view the status of your transaction on the blockchain, you can paste the TxID in the search bar of a blockchain explorer like Blockchair. The beauty of charity and crypto is that you can independently verify and track all your donations to Save the Children.

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Discover the Bonus Wallet: Friends and Welcome Bonuses change

Promo Wallet: Friends and Welcome Bonuses change

On Young Platform, there is a new type of Wallet dedicated to bonuses and all future promotions

As of today, all bonuses on Young Platform will become cashback bonuses in the new Bonus Wallet. You may already know that if you invite a friend to Young Platform, you both receive a Friend Bonus. Those who sign up for the exchange with a referral code from a sponsor or promotional campaign receive a Welcome Bonus.

You now can receive these and all future bonuses directly in your Bonus Wallet. They will come in the form of cashback, to be used to pay for fees on the exchange.

You will be able to see the Bonus Wallet within the Wallet section, but only after you have received a Bonus, or to manage Bonuses that are still pending from the previous system. But for now, let’s see how the promotions work. There are two currently available: the Friends Bonus and Welcome Bonus.

1.   Obtain and redeem your Bonus

If you are a newcomer to Young Platform, and have signed up via an invitation or referral code, you will find the wizard to activate your account and receive your bonus highlighted on the Home page. Once your identity has been verified and you have made a deposit of at least €50, you will find the button to redeem your bonus in the “Invite your friends” section (available from the Home page).

On the other hand, if you already use the app and want to invite someone to receive a bonus, go to the “Invite your friends” section in the Home page to share your code and view the status of your invitations. Once you have both completed the necessary actions indicated, you will see the button to redeem the bonus in the invitation section.

Important news: Unlike the previous mode, it is no longer necessary to make a purchase to receive a bonus.

2.   Discover the Bonus Wallet

After redeeming the bonus, continue through the wizard to read the Bonus Wallet introduction stories, which will explain how it works.

The Bonus Wallet will then open for the first time. After the first bonus redemption, you can always find it again in the Wallet section.

There, you can view all bonuses that you have redeemed and can use to receive cashback.

Important news: bonuses will no longer be credited to your Spot Wallet, but to your Bonus Wallet.

3.   Receive cashback

How does cashback work? In the case of these 2 bonuses, it only applies to trading fees paid for Euro-Crypto trades (so it does not apply to Crypto-Crypto trades).

This means that after you have completed a purchase with Euros or a sale in exchange for Euros, and paid the fee, the fee amount will be deducted from your Bonus Wallet and credited to your spot Euro Wallet.

Let’s take a practical example, for a user who is not a member of any club:

  1. You redeemed a €5 Invite a Friend Bonus
  2. You make a BTC purchase of €100
  3. You pay a €2,50 fee
  4. Your receive €2.50 cashback in your wallet, which is deducted from your Bonus Wallet
  5. You have €2.50 left in your Invite a Friend Bonus Wallet Bonus

You can use this remaining bonus for cashback on other fees.

If you have only € 0.50 total bonus remaining and pay €1 of fees, you will receive a cashback of only €0.50.

The new bonus regulation

Not only will the form of the bonus change, but the same goes for the rules for redeeming and receiving them.

Here are the main points of the new Rules for the Welcome Bonus and the Friend referral Bonus:

  • If you already have invitations sent before today that have not yet been completed or unredeemed bonuses, they will be converted to this new cashback mode from today.
  • As mentioned above, it is no longer necessary for the users involved to make a minimum purchase in order to obtain the bonus, but a deposit of 50€ will suffice.
  • Bonuses expiration:
    • They must be redeemed within 90 days from the date of the new user’s signup using the invitation or referral code.
    • They must be used within 6 months of redemption.
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6 ways to make a deposit on Young Platform and get started with crypto

Buying cryptocurrencies on Young Platform: how to deposit euros

Want to buy cryptocurrencies on Young Platform? The first step is to top up your Wallet. Here are all the available deposit methods!

Want to buy cryptocurrencies but don’t know where to start? The first step is to deposit euros on the Young Platform exchange. Once you have topped up your Young Platform account, you will be able to trade euros for all cryptocurrencies listed on the exchange. However, before topping up, make sure that you have gone through the identity verification process. There are several deposit methods available. To buy cryptocurrencies on Young Platform, you can deposit money via bank transfer, through credit or debit cards, or using a gift card. Choose the deposit method you prefer and start your journey in the world of crypto too!

Where to start?

For all the deposit methods we will go over in this article, the starting point is the same!

From the Home or Wallet section, click on “Deposit”. Once you have selected Euro, you will see all available deposit methods! For cryptocurrency deposits, read this guide.

1. Deposit by bank transfer

The first method we see in this guide on how to deposit at Young Platform, is by bank transfer. Once you have chosen this method, we are assuming you will proceed by SEPA transfer from a foreign (non italian) bank account.

Attention! Before proceeding, you will be asked to enter the amount of money you intend to deposit, at which point a request will be made that must be confirmed. In addition, it is mandatory to enter the reference number for the transfer.

The maximum amount you can deposit by bank transfer depends on your Young Platform account level. The minimum amount you can deposit by bank transfer is 20€. The level of your account is determined by the level of verification of your profile, particularly regarding the origin of the funds you intend to deposit.

Below are the deposit limits per verification level of your account.

  1. The first level is unlocked by completing identity verification. Single transaction limit: €4,000, annual limit €25,000.
  2. To access the second level, it is necessary to provide a bank statement, utility bill, or certificate of residence issued by your municipality. Single transaction limit €8,000, annual limit €50,000.
  3. To join level three, a questionnaire must be completed and a tax return provided. Single transaction limit 30,000€, annual limit 200,000€.
  4. A recorded interview is required to access the fourth level. Single transaction limit €60,000, annual limit €200,000.

For further information on identity verification levels, please contact [email protected]

Once you have selected the method by which you wish to make the transfer, you will be able to view Young Platform’s bank details.

The account from which you make the deposit must be in your name or co-owned by you and must match exactly the name under which you registered with Young Platform. Ordinary SEPA transfers from foreign (non Italian) accounts should take between 2 and 5 working days.

2. Deposit via debit, credit or prepaid card

To buy cryptocurrencies on Young Platform, you can deposit via debit and credit cards that use the Mastercard and Visa circuits. This deposit process is very simple.

  • Select Deposit from the Home or Euro Wallet;
  • Choose Euro;
  • Choose the credit or debit card option;
  • Add a new card or select an already added card;
  • Enter the amount, taking care to respect the minimum amount of 20€;
  • Continue to view transaction summary;
  • Confirm.

Your bank may ask you to authorise the transaction from their app or by SMS

The first time you add a card as a payment method, a small transaction will be processed through which you will be charged a few cents. This is a standard procedure to verify the card; the cents will be credited back to you automatically as soon as the procedure is successful.

Unlike bank transfers, depositing by card is immediate, so you should have received the amount you intended to deposit. Visa and Mastercard fees of 2.2% + € 0.25 apply to this type of deposit. Also for this deposit method, the card you intend to use must be in your name.

3. Deposit with Google Pay or Apple Pay

You can also use Google or Apple Pay to deposit quickly. To do so, you must have enabled Google Pay or Apple Pay on your device and linked at least one payment card

Let’s see how this deposit method works:

  • Select Deposit from the Home or Euro Wallet;
  • Select Euro;
  • Choose Google Pay or Apple Pay;
  • Enter an amount, starting from a minimum of 20€;
  • Confirm.

Done! Your top up should be immediate.

The commission charged for this type of deposit is the same as for card deposits, i.e. 2.2% + 0.25€.

4. Deposit with Young Cash voucher (if available in your country)

To buy cryptocurrencies on Young Platform, you can also deposit cash through Young Cash (if available in your country) by purchasing a voucher at participating tobacconists, bars and shops. 

To deposit to Young Platform with a voucher, simply go to one of the stores that provide them (mostly bars and tobacconists) and buy the one that suits you. Once purchased, you will have to select the “YoungCash” deposit method, and then the “Voucher” section. Enter the alphanumeric code on the receipt and you’re done!


The cash deposit is credited to your Euro Wallet within 15 minutes and transaction fees of 2% are deducted from the amount.

5. Redeem a Gift Card

Gift Cards are gift vouchers from 20€ to 250€ that users can give to their contacts on Young Platform. If you have received a Gift Card, you can redeem it from the Young Platform app or web platform and use the credit to buy cryptocurrencies.

To redeem a Gift Card go to the ‘Profile’ or ‘Wallet’ section, click on the ‘Redeem Gift Card’ button and enter the code you received by email or SMS.

Done! The amount should have been credited to your Euro Wallet.

So, those are all the ways you can make a deposit with Young Platform to buy cryptocurrencies. Once you’ve made your first deposit, all you have to do is choose the crypto that’s right for you!

Everything you want to know about deposit methods: frequently asked questions

1. Why is it necessary to top up my account to buy cryptocurrencies?

The deposit is used to transfer money to your Young Platform account, in order to enable you to buy cryptocurrencies.

2. Do I have to pay a subscription fee to use my account?

Absolutely not! You do not have to pay any subscription fees to use your Young Platform account. You can top up your wallet as often as you like and you are under no obligation to deposit regularly.

How do I know when my deposit has arrived? Check your ‘euro’ balance to verify that the amount you intended to deposit has actually arrived.

3. If there are delays in crediting my money, who can I contact?

Should there be a delay in crediting your funds, first check the timeframe for the deposit method you used. If more time has indeed passed, you can contact support or ask for help on our Discord server. To contact support, fill out a ticket, we will be quick to respond to all your needs!

4. Is it safe to connect my card?

Yes, you do not run any risks by connecting your credit or debit card to Young Platform. Beware though! Some malicious users may create copies of our exchange to try to steal your funds. To avoid running into scams make sure that the website url is always: https://exchange.youngplatform.com/. Want a tip for using Young Platform? Save the above link in your browser favourites or use the app by downloading it from an official store.

5. How many cards can I connect to Young Platform?

You can add a maximum of 5 payment cards per month and 40 cards in total.

6. How do I withdraw my funds?

You can withdraw your funds from Young Platform by bank transfer. Check the dedicated support page.

7. Why are there multiple ‘wallets’ in my account?

On Young Platform, you can deposit both fiat currencies (Euro) and cryptocurrencies. Each account has a dedicated wallet for fiat currencies and a dedicated wallet for each cryptocurrency.

8. Can I remove my card whenever I want?

Yes, you can remove your card at any time! Go to the Profile section of your account from the mobile app or web platform. Then select the ‘Payments’ option and click on the ‘Remove’ card button.

9. How can I pay less deposit fees?

By joining a Club, you can receive cashback on your card deposit fees. Find out how in the dedicated article.

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Transfer your crypto to Young Platform

How to transfer crypto to Young Platform: the complete guide

Want to transfer Ethereum and your other cryptocurrencies to Young Platform? Here is the complete guide!

If you want to transfer Ethereum or other cryptocurrencies from external wallets or other exchanges to Young Platform, read this step-by-step guide!

1. Select the crypto you intend to deposit

The first step in making a crypto deposit on Young Platform is to select the cryptocurrency you wish to deposit. To select it, simply go to the ‘Wallet’ section of the Young Platform app or web platform and click on the ‘Deposit’ button.

For this guide, we will use Ethereum as an example. In case you need to deposit a different cryptocurrency on Young Platform, don’t worry! The procedure remains the same, with one small addition. In some cases, as explained in the following paragraphs, you will have to add an extra code, the memo.

2. Copy your wallet address

Once you have selected the crypto you wish to deposit, click on the deposit button. You will then see a similar screen to the one below. Let’s use Ethereum as an example. 

The alphanumeric code you see when accessing this section in person is the address of your Ethereum crypto wallet on the Young Platform exchange. 

What is the wallet address? It is a code of 26-35 alphanumeric characters, needed to send crypto to a wallet. The wallet address has a similar function to the IBAN code for a bank account. It must therefore be communicated to the sender in order to receive cryptocurrencies. 

To transfer your Ether from a self-custody wallet or another exchange, simply send the amount of ETH you want to this address. If you are using the mobile version of your wallet, you can also scan the QR code you see above for the wallet address. 

Use the address found on ‘Deposit Ethereum’ only to send ETH. Each cryptocurrency has a specific network and wallet address. Sending for example AVAX, the crypto on the Avalanche blockchain, to your Ethereum address would result in the loss of the amount sent. 

3. Deposit your crypto from a self-custody wallet

Let’s see how to transfer crypto to Young Platform from self-custody wallets, i.e. wallets whose private key you manage, such as Metamask. If you are not familiar with Metamask, it is a browser extension and open-source crypto wallet that allows users to interact with Dapps. This wallet, which was initially created to carry out transactions on the Ethereum blockchain, now allows interaction with all the most popular blockchains that are compatible with it. It is possible to use Metamask from both your desktop through the browser extension, and from smartphones through the app. 

Let’s now move on to the Metamask browser extension. To transfer Ethereum from Metamask select the “Main Ethereum Network” from the drop-down list in the top right-hand corner. Then click on the “Send” button

How to deposit crypto on Young Platform with Metamask

Once you have selected that you want to send the funds, simply paste the address copied above and continue. 

How to past your wallet address on Metamask

The next step to transfer Ethereum on Young Platform is to enter the amount of Ether you want to deposit. Please note that in order to process a transaction on blockchain, you need to pay gas fees. They are fees that are paid to validators by those who wish to make a transaction on blockchain, to ensure that transactions take place securely on the network. So, make sure you have the necessary amount of Ether on Metamask to pay these gas fees or the transaction cannot be processed. You can see the real-time gas fees. The more congested the Ethereum blockchain is, the higher the fees will be. In addition, the amount of gas fees you pay will be directly proportional to how fast you want the transaction you send to be. You can choose the type of transaction by clicking on the ‘edit’ button inside the Metamask browser extension before confirming the transaction. For this type of transaction, which does not require high speed, there is a tendency to try and save on gas fees.

How to enter the amount you want to deposit on Young Platform via Metamask

Once you have entered the amount you intend to deposit into Young Platform, all you have to do is click the ‘Next’ button. Then this screen will open, where you can see the amount of gas fees you will have to pay to process the transaction and the total amount of cryptos you will ‘spend’. Once confirmed, the transaction will be processed. 

How to confirm the transaction on Metamask

Within a few minutes, you should receive the amount of crypto sent from your self-custody wallet. If the blockchain network is congested, you may experience delays for crypto deposits. In that case, you may have to wait until the transaction is confirmed. Should the crypto not be credited to your Young Platform account, request a ticket from the app or web platform.

4. Deposit your crypto from another exchange

To deposit crypto from another exchange, the process depends on the platform. In most cases, all you need to do is go to the “withdraw” section of your crypto wallet and paste in the address you copied above. One piece of advice we can give you is to read the guides of the exchange you intend to use to withdraw your funds. You can find these guides easily on Google by typing ‘crypto withdrawal (name of the exchange)’. For the Binance exchange for example, just go to the ‘Wallet’ section, select ‘Withdraw cryptocurrency’ and choose the crypto you want to withdraw.

Crypto withdrawal from Binance

Then paste in the address of your Young Platform wallet and select the network you wish to use. Caution! Always select the main network related to the crypto you want to deposit. By network we mean the blockchain on which each crypto is developed. For example, if you want to deposit the ETH crypto on Young Platform’s exchange, select the Ethereum network (ERC 20). If you are unsure which network is correct, ask for help in our Discord channel or contact support. If you send your cryptos to the wrong network you run the risk of losing them! 

5. What is the memo?

For some cryptocurrencies, for example XRP, the crypto on Ripple’s blockchain, the memo must also be entered when sending a transaction. The memo or tag is a unique identifier assigned to each account to identify a deposit and credit it correctly to the relevant wallet.  When you select the crypto you want to deposit and are given the address to send it to by the app or web platform, you will find the memo if you need it.

6. Deposit finalisation

Once the transaction is confirmed, your crypto deposit on Young Platform should be processed within a timeframe of a few seconds to a few minutes, depending on the congestion and speed of the network you are using. To ensure that your funds have arrived on the Young Platform exchange, visit the Wallet section of your app or Web Platform and check the balance of the crypto you have deposited. If you do not receive your crypto even after hours, you can talk to Support by opening a ticket or ask for help, or ask on our Discord server.

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Your crypto security in the context of the FTX collapse

Your crypto security in the context of the FTX collapse

In light of recent events, we are here to reiterate that the safety and security of our users’ funds has always been and always will be Young Platform’s priority, both now and in the future

That is why we want to present to you, as well as our entire community of over 1 million people, the measures we are taking to achieve this goal. Young Platform offers innovative and ambitious products, but operates in a cautious and considered manner. This means that our project wants to contribute to the growth of the cryptocurrency industry with responsibility and sustainability. The best way to do this is through transparency.

First of all, we want to reassure you on a few important aspects: 

  • The total balances in your wallet are immediately accessible for withdrawal and are deposited with selected providers that offer some of the best guarantees on the market in terms of soundness and transparency, as well as appropriate insurance cover in the event of negative events such as cyber attacks and/or hacking;
  • Young Platform does not use the deposited funds in any way;
  • Funds are retained by Young Platform in a 1:1 ratio;
  • Young Platform is not financially exposed to FTX or Alameda Research and the FTT token has never been supported by our exchange.

Here are the measures we take to ensure the safety of our users:

  1. We keep your funds safe
    As stated before, we work tirelessly to secure your assets on our platform. In concrete terms, this commitment translates into choosing an industry leader for asset safekeeping such as Fireblocks. We also ensure that all your funds are always available on demand and that you can withdraw when you wish.
  1. We choose industry-leading security protocols
    Young Platform uses the best security protocols. This way we can guard your data and funds from every angle. From asset protection, to privacy protection, risk control and user security alerts.
  1. We work with institutions on compliance initiatives
    At Young Platform, we work closely with Italian and European regulators and institutions to ensure high security standards. Young Platform was the first Italian cryptocurrency exchange to undergo regular audits by an auditing firm and to register with the Organismo Agenti e Mediatori (OAM), which requires the provision of quarterly reports to the Italian Ministry of Economy and Finance.
  1. We provide all the tools for a responsible approach to cryptocurrencies free of charge
    Young Platform has everything you need to decide how to use your funds: up-to-date security guides, industry news, resources to get an overview of possible risks. All this is available on our Academy and our Blog. You can start reading about self-custody best practices, or learn more about what happened to FTX and why Young Platform is not involved in the affair.
  1. We work for platform transparency
    We are satisfied with our procedures that guarantee a safe experience for users, but security is a job that never stops. That is why we are looking further and trying to improve on our achievements. In this regard, Young Platform is taking further measures, integrating new systems to improve the technical solutions for the safekeeping of customer assets in the long term and to make them more transparent.

Young Platform recognises its responsibility to create a reliable and secure environment. In this mission, contact with users is crucial. We are proud to offer you comprehensive support through our Support Team. If you have any questions or concerns, our team is available to answer them at any time.

Thank you for your trust in us,

Young Platform Team

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Club benefit: access to the NFT Monuverse whitelist

club benefit monuverse nfts

Find out how to get early access to Monuverse NFTs at an advantageous price, thanks to the Clubs

8/11 update: the price of NFTs minted by those on the whitelist has been lowered to 0.07 ETH.

Monuverse is an ambitious project that seeks to transpose the world’s cultural heritage into the metaverse, with the aim of protecting its preservation and spreading awareness of the great cultural heritage to which we still have access.

We did say the benefits for clubs would continue, didn’t we? Well, as promised, here’s another one! Find out how to access the whitelist for the next Monuverse NFT drop.

What is Monuverse?

The Monuverse project creates NFT collections representing replicas of monuments and cultural sites through 3D modelling, reconstruction, 3D imaging and generative art.

A portion of the proceeds from the sales of these NFTs will go to local institutions responsible for the maintenance and restoration of the monument represented in the NFT.

Besides the interest in terms of collecting, being one of the virtual owners of a real historical monument is also a way to contribute to the preservation of cultural heritage in a unique way. We say ‘one of the owners’ because, at least according to Italian intellectual property law, it is not possible to be the sole owner of an element of cultural heritage. Hence why they are fragmented NFTs in the form of collective ownership of the monument they represent.

Monuverse is starting its collection with an Italian monument, with its first release being NFTs of the Arco della Pace (Arch of Peace) in Milan. The ultimate goal is much broader: to populate a historical metaverse where users can use 3D avatars with epoch-specific clothing and participate in virtual events, art exhibitions, and festivals.

What benefits do you get by purchasing a Monuverse NFT?

By purchasing an NFT from a Monuverse collection, you’re contributing to the protection of cultural heritage. This is the main value of the token.

However, having a Monuverse NFT also means joining a community and participating in a project, which provides a number of benefits.

  1. You get a PFP and a free 3D Avatar.
    A PFP is a profile picture in NFT format: you can use it on social networking sites and in all applications that support NFTs.
    On the other hand, an Avatar is your character in the metaverse: Monuverse has created several designs insipired bu various historical eras and cultures.
  2. You get guaranteed access to the Whitelist for upcoming Episodes.
    I.e. the possibility of minting new NFT collections to be released in the future at the cheapest price.
  3. You have access to Monuverse initiatives and events.
    The first example was the artistic performance in Milan last December at the Arco della Pace.
  4. You have the right to vote on the next monuments that Monuverse will release.

Discover all the 6 ways to use your Monuverse NFT!

How will the NFTs be released?

The release of Monuverse collections is done by Episodes. Episode I will begin on the 11th of November, during which 7,777 unique NFTs classified into 9 rarity levels will be released.

On the 11th of November, Episode I will take place in three consecutive phases starting at 5pm (UTC):

  1. The Chosen Ones: minting for the top whitelist band;
  2. The Believers: minting for the second whitelist band, called ‘Pre Mint’;
  3. The Brave: minting for public sale.

The price of a single NFT varies according to the phase in which you participate. 

  1. The Chosen Ones: 0.09 ETH (approx. €145); lowered to 0.07 ETH (approx. €104)
  2. The Believers: 0.09 ETH (approx. €145);
  3. The Brave: 0.11 ETH (approx. €175).

Initially, each NFT will contain the same generic image. To find out which level of rarity you have purchased, you will have to wait about a week. At the end of the waiting period, the Reveal phase will begin, i.e. the phase in which you will discover the actual image or video of your NFT that will correspond to one of the 9 animations representing the different rarity levels.

Since it is an NFT, it will always be exchangeable, both in its generic version before Reveal and in its final post-Reveal version, in exchange for ETH.

What is the benefit for Club members?

Thanks to the collaboration between Young Platform and Monuverse, there are 1200 reserved places on the first-tier whitelist for club members.

Being on the whitelist allows early minting of up to 3 NFTs at 0.07 ETH (about €104), i.e. buying them, registering them on the blockchain and transferring them to your wallet.

Please note: you have until the 9th of November at 5 p.m. (UTC) to join a Club and sign-up for the whitelist!

As places are limited, priority will be given to members of higher-level clubs.

How to apply for the whitelist

By the 9th of November at 5 p.m. (UTC), Club members who want to attempt to be whitelisted must register with their wallet address on the whitelist page.

Follow these 3 basic steps.

1. Join a Club or increase your level

The very first thing to do if you are not in any Club or in a low-level Club, is definitely to sign up now. That way, you have time to deposit money, buy YNGs and lock them in a Club before the 9th of November.

The higher your Club level, the more likely you are to be whitelisted.

We recommend performing the remaining two steps from the desktop.

2. Create an Ethereum wallet

If you do not have a web wallet for Ethereum, one of the most convenient and compatible applications is Metamask. You can create one like this:

  • Go to Metamask
  • Click on ‘Install MetaMask for (browser)’.
  • Click on ‘Add to (browser)’.
  • After installation, a new tab should open automatically. If it does not, go to the list of extensions and click on MetaMask.
  • Click on ‘Create a Portfolio’.
  • Click on ‘Accept’.
  • Set a password, check the box to accept the Terms of Use and click ‘Create’.
  • Click ‘Next’ and then ‘Click here to reveal the secret words’.
  • Write the secret phrase (seed phrase) on paper now and keep it in a safe place. Click on ‘Next’.
  • Select the words of the secret phrase in the correct order and click ‘Confirm’.

3. Sign-up on the minting page

  • Register at the minting page
    • Click on ‘Login to Sign-up’.
    • Click on ‘Metamask’.
  • Enter the password communicated by Young Platform by email after 48 hours of joining the Club (or November 5th if you are already in a Club).
  • Connect your wallet, enter your name and click on Sign-up.
  • If you see a congratulations pop-up, you are whitelisted.
  • Transfer your ETH from Young Platform to Metamask. If you do not have ETH, buy them on Young Platform and then transfer them to Metamask. 

Please note: When deciding how much ETH to buy and transfer to Metamask, please consider: 1) the number of NFTs you want to buy (maximum 3), 2) ETH transfer fees to Metamask (0.0025 ETH), minting fees (min. 3$) and for any emergency transactions in case of an error.

How do I transfer my ETH to Metamask?

You can send ETH and tokens from another wallet to a new MetaMask account. Simply copy your new public MetaMask address and go to your existing wallet or exchange to send funds to your new wallet address.

You can find your MetaMask address under the account name (in the format 0x12r45…6HJ9).

To transfer ETH from Young Platform follow this guide.

For further questions please consult the MetaMask FAQ by clicking here.

What should I do on the 11th of November?

If you made it onto the whitelist, on the 11th of November, you will be able to participate in the early minting from 17.00 UTC for around 2-3 hours, at 0.07 ETH per mint.

You can still buy NFTs in later stages if you wish, but they will have the costs specified above.

In any case, here is how to mint:

  1. Click on the link we will email you 48 hours after you join the Club (or November 5th if you are already in a Club).
  2. Connect your wallet.
  3. Select the number of NFTs you wish to purchase (maximum 3 whitelisted).
  4. Click on Mint to make payment in ETH.
  5. Wait for a congratulations window to appear.

Congratulations, NFTs are now inside your wallet!

How to view your NFT

Once purchased, you can view and display your NFTs on all major generic marketplaces including OpenSea.

To view your NFTs simply:

  1. Go to OpenSea.
  2. Link your wallet in the top right-hand corner by clicking on the profile or wallet icon
  3. Go back to your profile. Under the ‘Collected’ tab, you can view your NFTs.

Remember that you will only be able to see the real image or video you have purchased after the reveal process is done.

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Get an Unstoppable Domains voucher with the Clubs

Get an Unstoppable Domains voucher with the Clubs

Today, if you are signed up to a Club, you will receive a voucher to redeem a credit on Unstoppable Domains. Go Web3!

Today, the 31st of October, starting at 17:30 (UTC), the distribution of Unstoppable Domains vouchers via email will begin to those who are already signed up to the Clubs.

Please note: vouchers will take between 48 and 72 hours to be sent to both subscribed and new subscribers.

If you are not yet in any Clubs, you have until 11.30 a.m. (UTC) on 28th of November to sign up and automatically receive your voucher within 48 hours. Find out more about the Clubs.

Below are the voucher amounts according to your Club level:

  • Bronze: $60
  • Silver: $70
  • Gold: $90
  • Platinum: $110

If you’re in a Club but can’t find the voucher email, check your spam folders and see if Young Platform addresses are blocked from your inbox: [email protected] and [email protected]

Don’t know what we are talking about? We announced this new advantage for clubs in this article.

What should I do now that I have a voucher?

The first thing to do is to create an Unstoppable account and redeem the voucher for credit.

It is important to do this now because all vouchers expire on the 29th of November.

After redeeming the voucher, the credit must also be used as soon as possible.

The credit will expire 90 days after you redeem it.

To purchase a Web3 Domain using the credit applied to the account, follow this guide.

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How to use a voucher on Unstoppable Domains

How to use a voucher on Unstoppable Domains

If you have obtained an Unstoppable Domains voucher, this is the guide for you. Here is the step-by-step explanation on how to buy a Web3 Domain and make it yours.

1. Create an account on Unstoppable Domains

We recommend operating from a desktop throughout the procedure for the best experience.

Creating an Unstoppable account is really simple. From the homepage, click at the top right on Sign up/Log in.

As you see, you have several options: use your Google profile, Twitter, connect a wallet or create new credentials.

Once you have chosen your credentials, you will receive an email to confirm your sign up. Click on the link in the email to verify your account.

2. Redeem the voucher

Your account is now ready. From the menu at the top of the page, click on the ‘Account’ button and then on ‘Redeem a Gift Code’.

Paste your voucher received by email from Young Platform into this section and redeem it by clicking on ‘Apply’.

Your account is now associated with credit to be used for any purchase.

NB: You have until the 29th of November to redeem the voucher.

3. Buy a Domain

You can purchase an Unstoppable Domain either from Young Platform Web or directly from the Unstoppable Domains site.

Once you have applied credit to your Unstoppable account, use the search bar to find the domain you want to purchase.

Remember that all prices are in US dollars, as is the value of your voucher.

In this paragraph you will find the aspects to be evaluated when choosing a Web3 domain name.

Once you have chosen the domain, add it to the basket and select a method of payment.

We recommend following the official guide especially if you want to pay in cryptocurrencies.

When you have made your purchase, you will find your new domain under ‘Account’, in ‘My Domains’.

NB: you only have 90 days from the time of redemption to use the credit.

4. Mint your Domain

The domain is now yours, but it is not yet registered on the blockchain.

For this step, you must have a compatible wallet with which to associate your new Domain.

You can do it whenever you want, so take your time. Just know that until it is registered on blockchain, it is not universally verifiable that it is yours.

4a. Prepare your Wallet (for example: MetaMask)

If you do not yet have a Wallet Metamask or equivalent, here is how to create one:

  1. Go to https://metamask.io/download/
  2. Click on ‘Install MetaMask for (browser)’.
  3. Click on ‘Add to (browser)’.
  4. After installation, a new tab should open automatically. If it does not, go to the list of extensions and click on MetaMask.
  5. Click on ‘Create a Portfolio’.
  6. Click on ‘I accept’.
  7. Set a password, check the box to accept the Terms of Use and click ‘Create’.
  8. Click ‘Next’ and then ‘Click here to reveal the secret words’.
  9. Write the secret phrase (seed phrase) on paper now and keep it in a safe place. Click on ‘Next’.
  10. Select the words of the secret phrase in the correct order and click ‘Confirm’.

4b. Connect the wallet to Polygon 

Still following the desktop procedure, connect your web wallet to the Polygon network, where your Unstoppable domain will be registered.

These are the steps for Metamask:

  • Go to PolygonScan.com
  • Scroll down to the site footer and click on Add Polygon Network
  • MetaMask will ask you to approve the changes. After doing so, click on Switch Network

4c. Mint your Unstoppable Domain

Now everything is ready for minting, i.e. to register the domain on blockchain:

  1. Go back to your Unstoppable Domains account
  2. Go to ‘My Domains’:
  3. Select ‘Free Mint’ next to your domain and click on continue.
  4. Select the wallet in which you want to mint your domain.
  5. Tick the  “I understand” box and confirm.
  6. Confirm your e-mail, enter the verification code and confirm.
  7. Your domain will be minted on Polygon. The operation may take several minutes depending on the traffic on the network. Click on Track Progress for more details on the status of the operation.

It’s done! The Web3 domain is yours, and it is verifiable on the blockchain.

It’s time to discover 10 ways to use your Web3 Unstoppable domain!

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What is KYC for? Identity verification explained simply

KYC: what it is, how it works and what it is for

What is KYC, how does it work and what is it for? Read all about identity verification on Young Platform

Ever heard of Know Your Customer or KYC? It is a set of procedures that allows Young Platform to get to know its users in depth and thus comply with legal obligations. KYC is nothing more than an identification and due diligence process used by banks, financial intermediaries or cryptocurrency exchanges to certify that users who register are natural persons and not. As a result of this process, it is also possible to detect abnormal behaviour and thus avoid potential illegal activities such as money laundering or terrorist financing. KYC is carried out by filling out a questionnaire directly in the app and entering some information such as residential address, social security number and identity document. 

KYC procedures must be carried out as a legal requirement (in Italian law, according to Legislative Decree 231/2007 as amended) and are mandatory in services related to digital finance, whether centralised or not. We are here to explain how KYC works on Young Platform, how it is done and why it is so important!

What is the purpose of KYC on Young Platform?

Identity Verification is essential to activate your Young Platform profile and start using all the services of the exchange, from buying and selling crypto to the Earning Wallet. With the Identity Verification procedure, Young Platform guarantees you as well as all other users a secure experience that complies with all Italian regulations. With Identity Verification, you protect yourself and your company from online fraud and money laundering attempts. KYC is the most effective tool cryptocurrency exchanges and financial institutions have to defend their users from financial crimes.

Identity verification on Young Platform: 5 steps in 5 minutes

Concretely, KYC on Young Platform simply consists of entering data. During the course of the procedure you will be asked to communicate and confirm:

  • your address of residence;
  • your home address;
  • your date of birth and nationality;
  • the origin of the funds you intend to use on Young Platform;
  • the validity of your ID document.

You can read our policy in detail by clicking here.

Identity verification is carried out quickly with software from Onfido, a world leader in artificial intelligence-based identity verification management.

Identity Verification takes place on the Young Platform app (or on the web platform) under User > Account > Account Levels > Level 1.

Have an identity document (ID card, passport or driving licence) and the camera on your mobile phone handy. Now follow these 5 steps to complete the Verification in 5 minutes:

1. Enter your first and last name

Please enter your first and last name as they appear on your ID card. If you have a double barreled first name or surname, enter both of them. Your personal data must be complete! During verification, it is important that your first name and surname match the photo of the ID document you will be asked to submit.

2. Enter your document details

You can use your ID card, passport or driving licence as a document. Make sure that the document is valid and that it is not damaged or discoloured.

3. Select the purpose for which you intend to use Young Platform

4. Take a picture of your document

Upload one shot for the front and one for the back of your document. The picture must capture the entire document, so be careful not to crop out the edges! Shots should be in colour, sharp and in focus. For a flawless photo, choose a well-lit environment.

5. Take a selfie

It is now your turn to pose for the camera. Take a selfie of your face while keeping your hand still, and do not wear any accessories. Get rid of your glasses, hats or anything that can hide your face.

Can’t complete Identity Verification? Here are the most common errors

After following these 5 steps, your procedure will be finalised automatically in about 5 minutes. If it takes longer than expected, this is because the Onfido system is unable to match your selfie to your ID photo, or because some of the data is illegible. Don’t worry, manual checks will be carried out. They will take between two and five working days. You will soon be able to use your account.

If the procedure does not succeed even with manual verification, you will receive a warning e-mail stating one of the following reasons. Let’s see in detail which errors you may have come across:

  1. User already registered with another account: in this case the name you entered in the procedure is already registered. On Young Platform each person can only register once.
  2. Please use an alternative document: the document you have chosen is expired or invalid.
  3. The picture of the document is not valid: the photo of your documents is of poor quality. Try again by following the small steps explained above!
  4. The picture of the face is not valid: your face is not clearly visible from the selfie you took or cannot be associated with the ID photo you uploaded.

Additional info: who counts as a “politically exposed” person?

During the data collection process, you will be asked to indicate whether you are or have close ties with a politically exposed person (PEP). This category includes all persons who hold public office or who have ceased to hold it for less than a year. We are therefore talking not only about MPs, senators or members of political parties, but also about other categories for which you can find the full list by clicking on this link. You are also required to report if you are a family member of a politically exposed person, i.e. a parent, a spouse or if you have close ties.

Why is this information important? Again, it is the law that requires it! Specifying whether you are a PEP is an additional form of protection against exposure to financial crime or money laundering risks. If you declare that you are a PEP or a family member of a PEP, our team will contact you for details.

Now that you know what KYC on Young Platform is, how it works and what it is used for, you might ask yourself: is it safe to share my documents online?

The answer is: yes, if you do so consciously. Before sharing your data on any online platform or service, please investigate its reliability. A first indication of seriousness and security is the presence of legal documents showing the procedures adopted for KYC and those for processing personal data. You can find the legal documents relating to Young Platform here.

The data you share with Young Platform is handled in accordance with the Privacy and Data Protection Notice, please note that the purpose of the Identity Verification procedure, according to Regulations (EU) 2016/979 and (EU) 2018/1725 of the European Parliament and of the Council and relevant national legislation, is considered to be in the public interest.