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FAQs: Young Platform Clubs

How do the Clubs work? FAQ about the YNG token

Learn all about Young Platform Clubs: exclusive benefits, membership and the role of the YNG token.

Young Platform Clubs are exclusive benefit packages designed for the Young token (YNG) holders, the cryptocurrency native to the Young Platform ecosystem. Access to these Clubs requires you to block a certain amount of YNG: the more tokens you block, the greater the benefits and the higher the level of your Club.

This article provides all the information you need to understand how the Clubs operate, their benefits, and how the required amount of YNG tokens for membership is determined.

Among the main themes we will explore:

  • The Young Token (YNG): Understanding what it is, how it functions, and its primary utilities.
  • Young Platform’s Clubs: Discussing the various levels, benefits, and new features introduced with the rebalancing mechanism.
  • The benefits for members: Highlighting advantages such as fee reductions and partnerships that enhance the ecosystem experience.

Read the article to discover how Young Platform Clubs can help you optimise your portfolio and access various curated opportunities.

The Token Young (YNG)

The Young token (YNG) is the native cryptocurrency of the Young Platform ecosystem. Developed as an ERC-20 token, it is classified as a utility token and complies with MiCA (Market in Crypto Assets) regulations. YNG is designed to provide value and utility to users and serves as the central element of the Platform’s functionality.

With YNG, users can access Young Platform Clubs, which offer packages of benefits based on the amount of tokens they block. The more tokens a user blocks, the greater their benefits and the higher their Club level. Initially introduced in 2018 as a reward for participating in the Young Platform Step educational game, YNG expanded its utility in 2022 when it was listed on the exchange, coinciding with the growth of Young Platform, now recognised as Italy’s leading crypto exchange.

The token offers concrete benefits, such as increased APY on staking, commission discounts, and priority access to initiatives and promotions. The YNG ecosystem will be further enriched in the coming months with new features, such as payment accounts, cards, and advanced trading tools (e.g., margin trading).

YNG’s tokenomics support sustainable growth, facilitated by buybacks and periodic cash injections made possible through a portion of the ecosystem’s revenues. Users must block YNG within the Young Platform app by signing up for one of the Clubs to access these benefits. The benefits offered by the Clubs are continually evolving as new partners and features are introduced, thereby increasing the value for token holders.

In addition to being a digital asset for portfolio diversification, YNG allows users to actively participate in the growth of the Young Platform ecosystem, creating a direct and incentivising connection between the community and the platform.

The information in this paragraph is intended for informational purposes only and should not be considered financial, investment, or other types of advice. Investing in cryptocurrencies, including YNG Token, carries significant risks, such as market volatility and the potential loss of your entire investment. Before making any decisions, conducting your research, carefully evaluating your financial situation, and consulting a specialist advisor if needed is essential. Past performance is not indicative of future results. Young Platform disclaims any liability for losses or damages resulting from using the information provided in this paragraph.

The advantages of the Club Young Platform on functionality

Young Platform’s clubs provide various benefits aimed at enhancing user experiences and maximising the value of cryptocurrency holdings while minimising costs and increasing potential earnings.

One of the primary advantages is the significant discounts on buying and selling fees, which can reach up to 90%. This reduction in trading costs is especially beneficial for active investors. Additionally, members can take advantage of higher Annual Percentage Yields (APYs) on staking. Not only do they earn rewards in the staked currency, but they also receive YNG tokens. The bonus YNG gains can increase by up to 70%, making this a compelling option for those looking to earn passive rewards through staking.

Moreover, members can earn extra rewards through Airdrops, providing bonuses of up to 25% on standard rewards. A complimentary monthly Market Report offers detailed analysis and forecasts for those seeking insights into market trends. VIP Support ensures personalised and priority assistance for members of the most exclusive clubs. 

Traders can also benefit from Smart Trades, which are advanced tools that automate algorithmic trading. They allow up to 10 trades to be executed simultaneously.

On a practical note, the Tax Report helps members manage capital gains realised from cryptocurrency investments, offering discounts of up to 80%. Club members can also make free card deposits, with the number allowed depending on the club level, further reducing operating expenses.

The benefits of Young Platform Clubs with big brands

In addition to direct benefits, the clubs collaborate with major brands to provide exclusive offers. For instance, NordVPN offers up to 78% discounts to protect your online browsing and data. Freename allows you to register customised NFT domains with a credit of up to $220. 

For travel enthusiasts, WeRoad discounts up to €450 on group adventures, while Saily eSIM enables you to use 5GB of data to stay connected while abroad. Culture lovers can enjoy discounted access to museums and attractions through Tiqets, with up to 12% savings. For those who are into fitness, BuiltDifferent offers coupons for workout classes, personalised nutrition plans, and more.

Additionally, HelloFresh can deliver fresh ingredients and ready-made recipes for healthy and delicious meals suitable for your home.

The advantages of the clubs go beyond immediate benefits and continually evolve with the addition of new partners and features, making Young Platform Clubs a versatile and constantly improving resource for all members. 

To compare membership plans and benefits, please visit the Clubs page.

The price of clubs: blocking, not spending

You do not need to spend your YNG tokens to join Young Platform Clubs. Instead, you simply need to buy them and lock them in your wallet for the duration of your membership. This approach allows you to maintain complete control over the value of your assets, as the tokens remain your property and can be unlocked at any time after your minimum 90-day membership period.

Starting February 4, 2025, the number of YNG tokens required to access the Clubs will be dynamically calculated based on the token’s market price. This system ensures a sustainable balance between supply and demand, making your economic commitment proportional to the actual value of the token. If the price of YNG increases, the number of tokens required will decrease, and conversely, if the price decreases, the number of tokens needed will increase accordingly.

With this solution, Young Platform keeps the Clubs accessible and flexible while supporting the growth of its ecosystem.

How the commission discount works

Young Platform automatically applies a club commission discount to users’ buy and sell orders. This benefit is advantageous for active traders who frequently execute trades and long-term investors, such as those using an accumulation plan with recurring automatic purchases. By reducing transaction costs, this discount helps optimise the overall performance of trading strategies.

The discounts are progressive and vary based on your Club level, ranging from 30% to 90% off commissions. If you qualify for a higher discount than your current Club level, the platform will automatically apply the more favourable rate, ensuring you always receive the best possible conditions.

Commissions are also discounted on Young Platform Pro, the advanced trading platform. These discounts apply to a maximum trading volume of EUR 50,000 over the last 30 days; standard commission rates apply beyond this threshold.

With this flexible and automated approach, Young Platform’s Clubs optimise the experience for every type of investor, making the ecosystem more accessible and convenient. The discount level can be checked by visiting the Clubs section on the site.

Upgrading, Downgrading and Unsubscribing from Clubs

Joining a Young Platform Club is a flexible choice that adapts to your needs and does not require a fixed commitment. You can easily upgrade to a higher level, move to a lower-level Club, or unsubscribe altogether, all while retaining complete control over your YNG tokens.

Upgrade

If you want to access the benefits of a higher Club, you can do so at any time by adding the necessary amount of YNG to meet the minimum requirement for the new level. For example, if you are a member of Club Silver with 5,000 YNG blocked and want to upgrade to the Gold level, simply block an additional 5,000 YNG. This grants you immediate access to the new benefits without waiting for the current membership period to expire, which will automatically renew for another 90 days after the upgrade.

Downgrade

The process is straightforward if you prefer to downgrade to a lower level. After you cancel your Club membership at the end of the minimum 90-day period, your YNG tokens will be unlocked and transferred to your Main Wallet. You can use them from there to join another Club or participate in other trading activities. Please note that once you leave a Club, you will lose all associated benefits, such as commission discounts or staking bonuses.

Unsubscribe

Unsubscribing is also designed for flexibility and simplicity. Once you unsubscribe, your YNG tokens will immediately be available for trading or other uses, but you will lose access to Club benefits. For instance, in the case of staking, you will continue earning standard rewards but no longer receive additional bonuses linked to your membership level.

This system combines ease of management with continuity of benefits, ensuring that Young Platform Clubs are ideally suited to your needs and investor profile. Whether you choose to upgrade, downgrade, or unsubscribe, you always have the opportunity to optimise your use of YNG tokens and make the most of the ecosystem.

You can consult the dedicated guides if you have further questions about clubs.

To look at the YNG Clubs and Token, sign up for Young Platform. 

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“Buy the dip”: the siren song or the Oracle of Delphi?

buy the dip

“Buy the dip” is a phrase often heard in the world of investment and trading, and it’s particularly popular among those active in the crypto market. Let’s take yesterday, Monday, 5 July, as an example: a sort of “Black Monday”. Anyone who didn’t feel queasy witnessing a BTC drop of over 18% must have heard the siren’s call. Dear Odysseus, shall we admit it? Buy the dip, Buy the dip, Buy the dip. This melody has echoed in the ears of those accustomed to the market’s slaps or who have nerves of steel.

Check the BTC price on Young Platform

The last time we saw such a drop was two years ago. And in every crash, there are two faces: one of catastrophe and one of great opportunity. But, of course, not all dynamics can be under our control. Solid risk management is needed, as well as building diversified strategies over time to avoid being too exposed to the market. No one wants to be caught in a snowstorm in their underwear, even if we feel like superheroes (and no, don’t do it; it’s a mistake).

After all this preamble, the question is: what exactly is “Buy the dip”? Is it always worth following this “mantra“, or is it better sometimes to be more cautious? In this article, we will try to answer these questions, hoping to give you an extra sword and shield for the next battle. Our wish is that you may emerge victorious.

What does “Buy the Dip” mean?

The literal translation of “Buy the dip” is “buy the drop”. This trading practice involves purchasing an asset after its price has decreased, hoping this dip is temporary and the price will rise again soon. The idea is that the drop represents a buying opportunity at a discounted price, waiting for the market to rebound.

Advantages

  • Profit opportunities: Buying during a dip can be very profitable if the market rebounds and prices rise.
  • Average cost reduction: By adding positions during dips, an investor can lower the average purchase cost of an asset, improving the potential return.
  • Access to discounted prices: Buying assets during a dip offers the chance to acquire them at prices that could be considered discounted relative to their long-term value.

Limitations and Risks

Despite the potential advantages, Buy the Dip also presents significant risks:

  • No guarantee of rebound: An asset could continue to fall for various reasons, such as changes in economic fundamentals or company management. For example, a crypto that falls from $100 to $60 might seem a bargain, but if the project’s growth prospects are negative, it could drop even further.
  • Difficulty assessing intrinsic value: It’s often hard to tell if a dip is temporary or a sign of further declines. Buying just because the price has fallen isn’t always a good idea if the reasons for the drop aren’t understood. One must ask: Is the drop due to internal issues or external factors? Is it a temporary situation? Is the project resilient? How long will the price correction last?
  • Averaging down: If an investor already holds the asset and continues to buy during dips, they are adopting an “averaging down” strategy, which can be risky if the asset continues to lose value. This strategy, if not managed correctly, can lead to significant losses.

Risk management

When adopting Buy the Dip, we need a plan B—an escape route—something to avoid a fatal hemorrhage. What is it? Having a risk management plan. For example, setting a loss limit to avoid being trapped in a prolonged losing position. Some traders set an exit price to control losses. Suppose a crypto falls from $100 to $60, and the trader decides to sell if the price reaches $75 to limit losses.

Context

Buy the dip is often used in different contexts and can have varying probabilities of success depending on the situation.

  • During an uptrend: Some traders use this strategy when the market is generally rising. Imagine a crypto increasing in value but experiencing a slight drop at some point. Traders who believe in the strength of this uptrend see this dip as an opportunity to buy at a lower price, expecting the price to rise again soon. It’s like taking advantage of sales during a period of high demand.
  • Without a clear trend: Other traders use Buy the Dip even when there’s no evident uptrend. Here, the bet is that the asset’s current decline will increase. This can happen because they believe in the asset’s fundamentals or the project’s potential behind the crypto. It’s like buying a product at a flea market, hoping its value will increase over time, perhaps due to an improvement, a forthcoming novelty, or because the asset is currently undervalued.

“Buy the Dip” in the crypto market

Buy the Dip is a popular mantra in the crypto market, often promoted by influential traders and investors. However, it is important to remember that the cryptocurrency market is highly volatile, and dips can be significant and prolonged. Nevertheless, this strategy has proven successful when buying the most solid assets in the crypto market, particularly Bitcoin and Ethereum. For this reason, every time these cryptocurrencies drop, the mantra “buy the f****** dip” (BTFD) echoes across social media platforms used by enthusiasts in the sector.

It’s no coincidence that from 4 July, as BTC fell below $60,000 for the second time in four months, posts, tweets, and quotes on “Buy the dip” mushroomed on Reddit, X, 4chan, and Bitcoin Talk.

Check the ETH price on Young Platform

Examples of “Buy the Dip”

A well-known example is the 2007-08 financial crisis, where many investors bought shares in companies like Bear Stearns and New Century Mortgage, expecting a recovery that never came. Both companies left the business after losing a significant share of their value. In contrast, those who bought Apple shares after the 2020 crash saw a significant increase in value, making the strategy highly profitable.

The opposite: “Sell the Rally”

The opposite approach to “Buy the Dip” is “Sell the rally”, which involves selling an asset whose price has increased, anticipating an imminent dip. Again, the goal is to maximise profits, but it carries similar risks, such as the possibility of selling too early or too late.

To conclude

“Buy the dip” can be a winning strategy in volatile markets and during long-term uptrends. However, it requires good market knowledge and well-thought-out risk management. It is not a foolproof technique and should not be adopted without a critical assessment of the circumstances and one’s risk profile.

Homework: To avoid being overwhelmed by FOMO, it is useful to remember the opposite mantra. Try repeating: “Time in the market beats timing the market”. This can help you keep a cool head and make more rational decisions.

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Communication to Young Platform Users regarding MiCA Regulation

We are approaching a pivotal stage in the world of cryptocurrencies: the entry into force of European Regulation No. 2023/1114 of 31 May 2023 concerning Crypto-Asset Markets (MiCA). In particular, the first block of the relevant European legislation will come into force on 30 June, which will significantly impact stablecoins and the broader digital asset market across the European Economic Area (EEA). Specifically, under the MiCA Regulation, authorised stablecoins must meet stricter reserve requirements, governance, and transparency requirements. Furthermore, on 25 June 2024, the Italian government approved the Legislative Decree to align the national regulatory framework with the MiCA Regulation, aiming to ensure coordination with existing sector provisions in Italy (particularly with the TUB and TUF).

What changes for Users?

With the entry into force of the MiCA Regulation, Young Platform is working to ensure that all cryptocurrencies offered on our platform comply with the MiCA Regulation, implementing a series of measures to protect Users and create an even safer and regulated environment.

  • Stablecoin: The MiCA Regulation introduces new rules for Stablecoins, which must meet specific requirements to be offered to the public. For reasons better explained below, Young Platform is already working to comply with this new regulation. Still, no changes are planned to the offering of Stablecoins on our platform. We will continue monitoring regulatory developments and guidance from competent authorities and promptly inform Users of any updates.
  • Greater transparency (Articles 27, 29, and 40 MiCA): We will provide more detailed information on the cryptocurrencies offered, including associated risks and specific characteristics of each token. In particular, we will focus on Asset Reference Tokens (ART) and Electronic Money Tokens (EMT), for which MiCA establishes specific requirements (Articles 16 and 48 MiCA):
    • a) ART Tokens: According to Article 3(6) of MiCA, these are “a type of crypto-asset that is not an electronic money token and aims to maintain a stable value by referencing another value or right or a combination of the two, including one or more official currencies.” The MiCA Regulation requires platforms like Young Platform to obtain written consent from the issuer of the ART token before offering it to the public (Article 16 MiCA) and to comply with specific transparency and communication obligations (Articles 27, 29, and 40 MiCA).
    • b) EMT Tokens: According to Article 3(7) of MiCA, these are “a type of crypto-asset that aims to maintain a stable value by reference to the value of an official currency.” The MiCA Regulation establishes stricter requirements for EMT token issuers, which must be authorised as credit institutions or electronic money institutions (Article 48 MiCA) and must also publish a White Paper containing detailed project information (Article 51 MiCA). Platforms offering EMT tokens must also comply with specific rules on communication and marketing (Article 53 MiCA).
  • Clear communications (Articles 29 and 53 MiCA): Our communications will be even more transparent and informative, in line with MiCA requirements on marketing and advertising. We will provide all the necessary information to make informed decisions. In particular, regarding EMT tokens, our marketing communications will comply with MiCA’s specific provisions for this type of token.
  • Dedicated support: Our Customer Support Team is available to answer any questions or concerns you may have regarding MiCA and its implications.

What changes for Spot Trading services, purchasing Stablecoins with Fiat Currency, and Smart Trades?

Although the MiCA Regulation has introduced specific requirements, particularly for Asset-Referenced Tokens (ART) and Electronic Money Tokens (EMT), it does not provide a definitive and exhaustive list of which cryptocurrencies fall into these two categories.

This means that issuers themselves have not openly declared with certainty whether their Tokens should be considered EMT or not. Consequently, Young Platform is in the position of having to independently interpret the regulation and is awaiting definitive clarification from the relevant authorities.

To date, Young is doing its best to contact all Token issuers that may fall into the aforementioned categories, asking them whether they are working to comply with the new obligations for ART and EMT issuers. Due to the absence, as mentioned, of a precise classification of these types of Tokens and considering the various possible interpretations of the regulation, Young Platform has not made any changes to its Spot Trading service for Users or, for the same reasons, to the service of purchasing Stablecoins with Fiat Currency or the Smart Trades service. It should be noted that in the first week of July, we will send Users a new update regarding the classification of EMTs and ARTs, to provide the latest data on issuers who have decided to regularise their Tokens and to specify how these issuers intend to operate. Furthermore, the same communication will further clarify how Young Platform intends to manage Tokens not authorised under the MiCA Regulation.

Certainly, the Company will continue to monitor regulatory developments and guidance from competent authorities constantly, and we will promptly inform Users of any updates and/or changes to the service.

Finally, we invite you to consult the official MiCA summary prepared by public authorities, available at this link.

If you have any questions or doubts, please do not hesitate to contact our customer service. We are here to help you navigate this new regulatory landscape and make the most of the opportunities offered by the MiCA Regulation.

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What is Young Platform Step and how does it work? The complete guide

What is Young Platform Step and how does it work? Discover the app that lets you learn all about the crypto world by playing!

With Young Platform Step you can discover what the crypto world is and how it works in the easiest and most fun way: collect experience points and level up to get the YNG token! 

But what is it? It’s the token of the Young Platform ecosystem, with real value in the market. On Step you can set aside your first YNG tokens and get lots of free resources to learn the basics of the crypto world, step by step!

How does a blockchain work? What is Bitcoin for? What are NFTs? Step gets down to business and answers all your questions, simply and clearly. But it doesn’t end there! Once you’ve got your first YNGs, you can transfer them to the Young Platform exchange where you can take advantage of the crypto industry’s leading services with an extra edge. So find out what Young Platform Step is and how it works and all the games available!

What games are there on Step?

There are several features on the app to gain experience points (XP) and level up. Let’s see what each Young Platform Step game is and how it works:

1. Quests

In the Step Home, you can find Quests related to each feature, each with a different colour. Quests allow you to earn experience points every day: check the deadline, and use the features to complete them and redeem XP.

2. Claim

Young Platform Step counts all your steps (if connected to Google Fit or Health). In the ‘Step’ section, with the ‘Claim’ button, you can redeem and accumulate them to participate in the step quests in the Home (you recognise them because they are the ones in yellow). The fuchsia quests, on the other hand, do not count steps but all the times you redeem them. Remember to redeem the steps every time you accumulate 4,000 steps, otherwise the count will stop.

3. Rankings 

In the ‘Steps’ section of the app you will find step rankings! The challenge is to beat other users in the community at who can accumulate the most steps in an interval of time. You can join an existing ranking or create one: each one has a limited duration and number of places. To participate, you have to pay a small share of your YNG and the sum of the shares of all participants will be distributed to the winners. Furthermore, the more rankings you win, the more you progress in the blue quests.

4. Quizzes

On Young Platform Step, in the Education section, you can learn everything about the crypto world, from the basics to the more advanced aspects thanks to specific Young Platform Academy articles divided into 6 categories:

  • Blockchain to learn what the underlying cryptocurrency technology is and how it works;
  • Cryptoeconomics to discover the specific features and characteristics of the crypto economy;
  • Cryptocurrencies to delve into which are the main ones on the market, from their tokenomics to their uses; 
  • Crypto Heroes to get up close and personal with the protagonists of the crypto world, from Vitalik Buterin to the mysterious Satoshi Nakamoto;
  • Easy Economics to explore basic economic concepts;
  • Trading to learn about the theory and practice of this activity.

But how does it work and what is Education on Young Platform Step? Simple: each article is associated with a quiz that allows you to gain XP if you guess the correct answers. NB: To take the quiz, you have to spend one life and are given 5 lives by default. 

When you run out of lives, you can recover them by waiting for the indicated time, or by watching one of the advertising videos, or even with the Unlimited lives boost (explained below).

Step is also your one-stop shop for the latest news and updates from the crypto world, selected for you day by day directly from the Young Platform Blog.

4. Up&Down

In the Up&Down section you can try to guess whether the price of a crypto will go down (down) or up (up) by choosing a time interval between 3, 6 or 12 hours. 

Every time you place a forecast you consume a life, like for Quizzes.

For each right forecast you gain XP, the wider the time interval you choose, the greater the number of XP. 

Step counts all your correct forecasts advancing in the green quests. Put your market knowledge to the test!

What is Unlimited Lives and how does it work?

On Young Platform Step the Unlimited Lives is the life boost that allows you not to lose any lives for 1 hour. You can then use it to do more than 5 Quizzes or more than 5 Forecasts in a row. 

To get it, just go to the top bar where the lives icon is, click on it and select ‘Get unlimited lives’ to buy it for 1YNG.

Alternatively, you can obtain it upon reaching certain Levels: check when you’ll receive Unlimited lives by selecting the Level icon in the top bar and clicking on ‘Show Levels’.

Once you have the boost, you have to redeem it to activate it and use it.

The Marketplace

On Young Platform Step you can also find the Marketplace, which allows you to receive cashback in YNG of up to 20% on purchases from selected shops such as Nike, Guess or Decathlon. 

The Profile

Your progress is easily visible in the top bar of the app, but if you enter your Profile it’s a whole different story. Your Level, Available Lives, YNG received and XP accumulated are easily viewable, and over time your personal section will become more and more detailed and full of victories. Choose from the Avatars available to customise your profile!

How to transfer YNG to Young Platform

Here’s what Step is and how it works: by playing and levelling up you get your first YNGs, which will accompany you into the real crypto market.

So, once you’ve completed your levels and obtained the minimum amount of YNG, you can transfer them to the Young Platform app and get benefits by joining Clubs or use them for buying and selling. Young Platform is in fact an exchange where you can buy and sell major cryptocurrencies. To transfer YNG from Step to the exchange you need to link the two accounts, complete a minimum deposit of 20 Euro and a minimum crypto trade of 20 Euro. The next day you can create a gift card from Step and send the tokens to Young Platform. You can find the process explained in detail here.

To learn more about what Young Platform Step is and how it works, check out all the dedicated Support Guides.

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Transfer YNG from Step to Young Platform

transfer yng

YNG token transfer is instant and free with Gift Cards!

To transfer the YNGs obtained with Step to Young Platform, simply create a Gift Card to be redeemed on the exchange.

Gift Card creation and redemption are immediate, so you will have your tokens immediately available in your wallet balance, with no waiting time.

How to transfer YNG?

First of all, consider the amounts allowed:

  • The minimum amount for each transfer is 5 YNG
  • The maximum amount per transfer is YNG 125 in 30 days.

If it is your first transfer, follow these steps on Young Platform, otherwise skip to the operations to do on Step.

Start with Young Platform:

  • Create an account and verify your identity;
  • Go to the Profile, under ‘Connections’ link your Step account;
  • Make a minimum deposit of €20 (in Euros);
  • Make a first cryptocurrency purchase, for a minimum amount of €20; 
  • After completing these mandatory steps, it will be possible to request the first transfer of YNGs.

Now back to Step:

  • Log in to Step and click on your YNG balance visible in the top bar;
  • Select ‘Transfer’;
  • Continue with the procedure;
  • Choose the amount of YNG to be transferred;
  • Confirm sending;
  • Select ‘Open Young Platform’ to redeem the Gift Card automatically;
  • You will immediately receive the tokens on the Exchange Wallet

If you do not click on ‘Open Young Platform’ or do not redeem the gift card immediately, you can do so later manually:

  • Log in to Step and click on your YNG balance visible in the top bar;
  • Select ‘Transfer’;
  • Under ‘Your Gift Cards’ click on the last one created
  • Press ‘Redeem on Young Platform’.

Finally, remember that it is only possible to transfer YNG from one Step account and only to a linked Young Platform account.

Any doubts? Read the complete guide!

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Young Platform Step: invite friends and get rewards

refer friends step

The guide to inviting your friends on Young Platform Step and getting rewards

Did you know that Young Platform Step has a referral program? Invite friends and acquaintances to the app and receive rewards for helping to expand the beautiful Step community. Here’s everything you need to know!

How to invite friends to Step?

Start on the Step Home:

  • From the menu, on the top right, got to the Profile section
  • Tap on the ‘Invite your friends’ banner:
  • Press the ‘Invite’ button;
  • An explanation page will open, where you will then find the ongoing and completed invitations;
  • Press the ‘Invite your friends’ button to proceed;
  • Choose how to send the invitation message and to whom;
  • Once you have sent the link to download Step, you can check the status of the invitation on the invitation page, as indicated above;
  • The invited friend will have to download Step, sign up and complete the Welcome Tutorial;
  • After that the Invitation will be completed and you will receive 1YNG.

Invite friends: how to get the rewards

On Young Platform Step, the invite friends feature requires some extra care in order to secure the rewards. Indeed, you can only receive YNG if the invitee successfully completes the obligatory actions, but some details are also up to you.

Here are two important points:

  1. Before you start, make sure you have updated Step to the latest version available on the Store
  2. Tell your friend to click on the invitation link both to download Step from the store and after installing it, before signing up.

Important: If the invitee does not click on the invitation link again after the installation of Step, the invitation will not be detected and consequently you will not receive the reward!

How to ensure that the link was used for signup? 

If the invitee has signed up via the link, the invitation will appear pending. If, on the other hand, it does not appear in the list within the app, it means that they did not use the link correctly.

What to do if the invitee has signed up, but the invitation does not appear in your history?

If you can, stop your friend so that they do not accumulate unnecessary experience on the app. In any case, send them the link again, tell them to follow it and sign up with a different email. 

When the invitation appears as pending, the invitee can complete the welcome tutorial and consequently the Invitation will be marked as completed and you will get your YNG.

How come the invitee signs up correctly but the invitation is not tracked anyway? 

If these indications do not work, the only explanation is the following: some devices do not support invitation tracking, e.g. Android devices that do not support Play Services or have a custom ROM. 

That’s all for this guide: log in to Young Platform Step now and invite your friends to share your successes!

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Step Quests: how do they work?

Step Quests are a series of objectives to challenge yourself and earn experience points (XP) so you can level up

You can find the Quests in the Hub section, under “Goals”.

They all generally have the same basic mechanism: progress is tracked automatically based on the actions you take on the app, and they all have a deadline after which progress is reset.

Once 100% complete, tap on the button to redeem XPs.

Let’s now go over the different types of Quests!

Collect XP by walking

The Steps, Claims and Rankings quests allow you to gain XPs by walking. The great thing is that the same steps that move you up the Rankings help you progress through the quests and vice versa. Actions are in fact cumulative between quests: you can manage the claims you make to complete as many quests as possible in combination!

Steps

To complete this type of quest, you must make the claim of the indicated amount of steps.

Example: To complete the first 5000 step quest, you can either make claims of 4000 steps+1000 steps or you can make 4 claims of 1500 steps and so on. It is recommended to always make claims after 1500 steps in order to avoid recalculations that could prevent redemption.

20,000 steps in less than a day is not for everyone. Will you make it?

Claims

To complete this type of quest, you must tap the claim button as many times as indicated.

Can you really make 10 claims in 7 hours? We’ll see!

Rankings

The colour of the sky is associated with quests on the Rankings: the more you win, the more XP you gain.

What can we say, if you win five in four days you will be our Hero!

Collect XP with Up&Down

Walking is so exhausting! Let’s take a break and check the markets.

With the Forecast quests you can really put your predictive skills to good use: if you are lucky or an expert in technical analysis, you will climb the levels in no time.

It doesn’t matter what currency, it doesn’t matter how you get your forecasts right, as long as you win, Step gives you more XP!

These are all the quests on Step: start now and challenge your limits!

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Up&Down: what it is and how it works

Up&Down on Step

With the ‘Up&Down’ game on Young Platform Step you can make forecasts on the cryptocurrency market without spending a penny

With Young Platform Step you learn so much more than theory! You also have the opportunity to test your skills on the market without actually having to buy every time. 

So choose a cryptocurrency and examine its trend: will the price go up or down? Make your choice, wait for it and if you are right, you receive experience points (XP) to level up. 

Discover the 3 steps to play Up&Down on Step!

Choose a cryptocurrency

You have at your disposal some of the most interesting coins on the market:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Polkadot (DOT)
  • Ripple (XRP)
  • Solana (SOL)

Choose between UP and DOWN

Once you have chosen a currency, you can consult its market data in detail: the current price and the percentage change in price over 24h are previewed. 

Then there is the linear or candlestick chart, over no less than 5 periods: 6 hours, 1 day, 1 week, 1 month and 1 year.

As you scroll down you will see the Stats, which will show your wins on that coin, and how the rest of the community is currently forecasting, i.e. the percentage of UP or DOWN predictions currently being made.

You can use this information in two ways: you can either blindly follow your mates hoping that their predictions are accurate (beware of the herding effect) or you can consider it just one of several confirmations needed to decide the trend.

In any case, you have nothing to lose: you can try as many times as you want to hone your instincts, and if the going gets tough, start studying!

Academy is packed with material on technical analysis used by traders. It doesn’t hurt to keep up with the news either: our Blog is perfect for staying on the pulse every day about the events that move the cryptocurrency market.

Make the forecast

Have you decided whether the crypto will go UP or DOWN?

Press one of the two buttons, then choose the duration. The duration indicates after how long the prediction will expire, which is the same time you will see whether the coin went UP or DOWN.

Example: It is 9 a.m. and BTC is at 20,000. I choose UP and select 3 hours. If at 12 noon BTC is worth more than €20,000, I win!

By tapping the ‘Forecast’ button and confirming, you will lose a life and the prediction will begin.

If you run out of lives you can wait for them to recharge, or watch a video advertisement if available, or purchase Unlimited Lives. With unlimited lives you can play both Quizzes and Up&Down freely without using up lives for 1 hour.

Time’s up! A notification will tell you the outcome of the prediction: if you have won, you will receive a number of experience points that varies according to the selected Duration. If the price did not change instead or if it went against your expectations, you will not receive XP.

Before you run off to play, remember: you can only make 2 predictions at the same time.

All clear, it’s time to discover Up&Down on Step!

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FAQ: Moneyboxes 2.0

Do you have any doubts or questions about the new Moneyboxes? Here’s a summary of what’s new, straight to the point!

You can find all the important information in the official announcement about the Moneyboxes, but if you missed any details or want more, here is a list of possible questions and their answers. 

What does the promotion on Moneyboxes consist of?

Until 30 June, purchases via Bundles are free of charge: this means that you pay no purchase fees for both recurring and one-off purchases made to top-up the Bundles. 

The discount does not apply to Single Coin Moneyboxes.

If you already have a discount on purchases, they cannot be added up.

Why has the balance of my old Moneyboxes been reset?

In order to implement the new Moneyboxes, some changes had to be made to the existing Moneyboxes.

If you had a Moneybox with an associated active recurring purchase, the balance set aside until 4 May 2023 was transferred to the Spot Wallet of the respective cryptocurrency. The Moneybox remains active, as does the associated recurring purchase. Recurring purchases will restart at the set frequency.

If you had a Moneybox without an associated recurring purchase, the total balance of the Moneybox was transferred to the Spot Wallet of the respective cryptocurrency and the Moneybox was closed.

What has changed from the old Moneyboxes?

The main change is the possibility of building a Moneybox containing more than one cryptocurrency. The possibility of including only one, however, is still available with the ‘Single Coin Moneybox’.

Which cryptocurrencies are compatible with the Moneybox?

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Young (YNG)
  • Ripple (XRP)
  • Cardano (ADA)
  • Polygon (MATIC)
  • Dogecoin (DOGE)
  • Polkadot (DOT)
  • Uniswap (UNI)
  • Decentraland (MANA)
  • The Sandbox (SAND) 
  • Aave (AAVE)
  • Chainlink (LINK)
  • Litecoin (LTC)
  • Avalanche (AVAX)
  • Axie Infinity (AXS)
  • Basic Attention Token (BAT)
  • Solana (SOL)
  • Pax Gold (PAXG)
  • Fantom (FTM)
  • Arbitrum (ARB)
  • Optimism (OP)

What are Curated Bundles?

Curated bundles are ready-made mixes of cryptocurrencies, united by structure and application of the associated crypto projects.

The available Curated bundles are the following:

  • Web3 (DOT, LINK, UNI, BAT, MANA)
  • Metaverse (SAND, MANA, AXS)
  • PoW (BTC, LTC, DOGE)
  • Smart Contracts (AVAX, ADA, ETH, DOT, MATIC)
  • DeFi (AAVE, UNI, LINK)
  • Popular (BTC, ETH, YNG, XRP)
  • Artificial Intelligence (NEAR, RNDR, GRT)

How many Moneyboxes can I create?

  • Single Coin Moneybox: 1 per available cryptocurrency
  • Curated bundle: 1 per type
  • Bespoke bundle: no limits

How many cryptos can I put in one Bespoke bundle?

2 to 5.

How do I decide the percentages to be allocated to each cryptocurrency in the Bespoke or Curated bundles?

There is no one-size-fits-all method: study the cryptocurrencies you choose to put in, their risk and return, and how much you are willing to spend on each. If in doubt, you can always choose Single Coin Moneyboxes.

How do you create a Curated bundle?

  • Access the Moneyboxes section;
  • Press the green ‘+ New Moneybox’ button;
  • Select ‘The Curated Bundle’;
  • Choose the bundle you prefer;
  • Select the percentage that each cryptocurrency will occupy within the new bundle;
  • An indication of the minimum amount to be respected will appear, remember it for the next steps;
  • Choose the frequency of recurring purchase;
  • Select the payment method for recurring purchase;
  • Enter the amount of the recurring purchase, respecting the minimum amount specified previously. The amount entered will be distributed over the different cryptocurrencies according to the percentages you specified previously;
  • Press ‘Moneybox Preview’ and check that all details are correct;
  • Press ‘Create Moneybox’ to confirm and proceed with the first purchase.

How do you create a Bespoke bundle?

  • Access the Moneyboxes section;
  • Press the green ‘+ New Moneybox’ button;
  • Select ‘The Bespoke Bundle’;
  • Select the cryptocurrencies to be included
  • Proceed by clicking on ‘Set Distribution’.
  • Select the percentage that each cryptocurrency will occupy within the new bundle;
  • An indication of the minimum amount to be respected will appear, remember it for the next steps;
  • Choose the frequency of recurring purchase;
  • Select the payment method for recurring purchase;
  • Enter the amount of the recurring purchase, respecting the minimum amount specified previously. The amount entered will be distributed over the different cryptocurrencies according to the percentages you specified previously;
  • Press ‘Moneybox Preview’ and check that all details are correct;
  • Press ‘Create Moneybox’ to confirm and proceed with the first purchase.

What payment methods can I use to create Moneyboxes?

You can top up your Moneybox via Young Platform’s EUR Wallet or by payment card. 

What is the minimum amount with which I can create a Moneybox?

  • Single Coin Moneybox: 20€
  • Curated bundle and Bespoke bundle: variable according to the cryptocurrencies chosen and their minimum amount. It will be indicated when the chosen cryptocurrencies are distributed.

What is the maximum amount I can put in a Moneybox?

The maximum amount that can be selected for a single or recurring purchase is 250€, however the total balance of the Moneybox has no limit.

How do you edit a Moneybox?

  • Changing the recurring purchase: from the relevant Moneybox page you can change the recurring purchase by deactivating and reactivating it.
  • Adding or removing cryptocurrencies: from the relevant Moneybox page, press the ‘Transfer’ button
  • Changing percentages, cryptocurrencies or other changes: from the relevant Moneybox page, deactivate the recurring purchase, then go to the Moneybox settings by clicking on the wheel icon and close the Moneybox to reopen it with the desired settings.

How do you close a Moneybox?

From the relevant Moneybox page, deactivate the recurring purchase, then go to the Moneybox settings by clicking on the wheel icon and confirm deletion.

What happens if I close a Moneybox?

The cryptocurrencies contained in the Moneybox will be moved to the Spot Wallet. They will neither be sold nor converted.

Is recurring purchase activation compulsory?

Activation is automatic when the Moneybox is created, but you can deactivate it whenever you wish. Simply go to the specific Moneybox page and click on the tick next to ‘Recurring Purchase’ and confirm to deactivate it.

What is the difference between Moneyboxes and recurring purchase?

Recurring purchase is the ability to automate a purchase of any cryptocurrency or Moneybox, regularly. While the Moneybox is simply the section in which to store cryptocurrencies without trading them, recurring purchase is the functionality that allows you to top-up a Moneybox constantly. However, recurring purchases can also be set up on the Spot Wallet.

What is the difference between Spot Wallet and Moneyboxes?

From the Moneybox you cannot sell cryptocurrencies: you must first move them to the Spot Wallet.

Furthermore, in the Spot Wallet it is not possible to create groups of cryptocurrencies and buy them together automatically following their statistics.

What is the difference between the Single Coin Moneybox and the old Moneyboxes?

There are no substantial differences: both allow you to create a Moneybox containing a single cryptocurrency. 

The changes applied since the 4 May 2023 update consist of the addition of more supported cryptocurrencies and the improvement of the overall experience.

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Quick guide to recurring purchases

Quick guide to crypto recurring purchases

Recurring purchases allow you to recur a Bitcoin or Ethereum buy automatically and on a regular basis. Find out why it can be useful and how to activate it!

In this guide, you will learn how to activate the recurring purchase functionality on Young Platform, and choose the option that suits you. But first of all, what is a recurring crypto purchase? It is a feature that makes crypto purchases automatic. Once you set up a recurring purchase, the Young Platform app will buy your chosen cryptos for you, in the amount and frequency determined by you. This way, you won’t have to do it manually. 

Why set up a recurring purchase? 

Beyond convenience, why is it be useful to set up a recurring purchase? Often, recurring purchases is chosen by those who don’t feel like as confident as experienced trader ready to intercept the best time to buy. By setting up a recurring purchase, you buy crypto consistently, regardless of price changes. Whether the price is at its highs or its lows! Generally buying when prices are high is not very profitable, so why is the practice of recurring purchases used? Some people choose to buy on a regular basis to try to minimise price volatility. For example, say you buy BTC on a monthly basis, albeit at different prices. By the end of the year, you will have bought BTC at the yearly average price. All without the stress of having to interpret charts. In other words, with recurring purchases you are not trying to guess the right time to buy.

Recurring purchases are also a feature used to avoid buying crypto impulsively, avoiding getting caught up in excessive enthusiasm or incurable defeatism. Ever heard of behavioural finance? With recurring buying you can keep your cool during even the worst bear markets. 

How do I activate a recurring purchase? 

You can set up a recurring purchase directly on the Young Platform app, in the Spot Wallet section of your chosen cryptocurrency (on Young Platform you can set up a recurring buy of Bitcoin or Ether), or in the Money Box section of your chosen cryptocurrency. If you use the web platform, start from the trading panel on the Home Page. 

Choose a frequency option:

  1. Weekly;
  2. Biweekly;
  3. Monthly.

Select a payment method by which you will use for your crypto recurring purchase:

  1. Euro balance (free of charge);
  2. A debit or credit card (with fees);

You can activate it on two type of wallets:

  1. Moneybox;
  2. Spot Wallet.

That’s right: it is possible to set up a recurring purchase to the Spot Wallet but also to the Young Platform Moneybox.

We prepared a tutorial for each one!

Recurring Purchase on the Spot Wallet

The Spot Wallet is what you use to trade and transfer in the short term.

The recurring purchase on the Moneybox

The Moneybox allows you to leave your crypto untouched that you want to keep aside for the medium to long term. But for what purpose?

The Moneybox works just like a real piggy bank. You can store your cryptocurrencies that you don’t want to allocate to your more frequent buying and selling activities.