Posted on

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.

Posted on

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!

Posted on

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. 

Posted on

Can you recognise the most common scams in the crypto world?

How to recognise a crypto scam: from social engineering to phishing

How can you recognise a crypto scam? Here’s what you need to know to unmask scams and keep your crypto safe.

According to a report by the data collection company Chainalysis published on the 6th of January 2022, $14 billion in cryptocurrencies were stolen through scams in 2021, mainly due to rug pulls. The figure increased almost doubled compared to the previous year. This growth in scams coincided with the development of the industry and the boom of interest in cryptocurrencies. Fraudsters and scammers take advantage of bull market periods to act on people’s optimism about the markets. When economic interests are at stake, scams spring up like mushrooms and this is also the case with cryptocurrencies. Crypto scams are unfortunately widespread. However, with a few small tricks, it is possible to learn how to recognise a crypto scam from social engineering to phishing.

Red flags: the identikit of the scam

Before reviewing the main scams that operate in the world of crypto, it is important to keep in mind some ‘red flags’ or suspicious features that could indicate you are facing a scam:

●     Someone asks you to share your private keys or passwords;

●     Someone sends you a private message offering airdrops or giveaways;

●     Someone contacts you posing as a trader or an employee of a crypto project such as an exchange;

●     The messages you receive, or the websites you surf on, contain typographical or spelling errors;

●     Someone promises you to multiply your money or receive free earnings;

No one, not even employees of crypto projects, are authorised to ask you to disclose your personal data. Very often, when something is too good to be true, in most cases it is not.

Phishing

Phishing is a common scam all over the Internet, not just for cryptocurrencies. Phishing consists of malicious people sending you messages or emails posing as services or sites that you have used before (banks, e-commerce, social networks…). They invite you to open a link or communicate personal data. When it comes to crypto, fraudsters could steal the passwords or seed phrases of your wallets through phishing, consequently stealing your crypto. Phishing messages can usually be recognised because the profiles that send them show inconsistencies with the services they are trying to imitate. Although scammers are capable of creating communications and sites that are very similar to the original ones and therefore convincing, certain details such as syntax or grammatical errors are signs of a possible scam. It is always good practice to check that the URLs of sites or e-mail addresses correspond to those of official sites, even just one character more or less can make a difference.

Fake Customer Service Representatives or Traders

In this type of scam, someone pretends to be a representative of a crypto organisation or company.  They then ask for sensitive information such as your wallet seed phrase, under the pretext of solving fake technical problems. Once the private key is obtained, the scammers drain your wallet. In this case, the scammers may also ask you to send them money in exchange for a higher value. Usually these requests are made with a sense of urgency, alerting people worried about the safety of their assets. Remember that all official communications are only ever made through official channels, do not rely too much on rumours or speculation. If you have any doubts, contact Customer Service from the official website.

Malicious people could also try to pass themselves off as telephone operator employees, offering new contracts or to change SIM cards. In possession of your phone number, they can bypass all two-factor authentications that rely on it. Some scammers also present themselves as experienced traders ready to help you. In this case, they will try to contact you, especially on social networks or online communities such as YouTube or Telegram. How to recognise this crypto scam? Due to their unrealistic promises, fake traders are easily unmasked. Beware of those who claim they can make you incredibly rich in a short time, in the world of crypto there are no shortcuts or ‘foolproof methods’.

Fake exchange apps

Among the most common scams are a number of fake apps that pretend to be the mobile version of cryptocurrency-related web services, such as exchanges or marketplaces. If you come across one of these apps in an app store, remember that the official ones are always downloadable from the relevant website. You can easily check if the two versions coincide. Again, a clue leading to a fraud can be spelling mistakes, the name of the exchange might be misspelt, or the icons might not exactly match the original ones. You can also check the number of downloads of the app. If it claims to be that of a reputable service, the downloads cannot be few. In addition, counterfeit apps usually require more permissions than necessary, as this ensures that they collect as much data as possible from the devices of scam victims.

Another type of scam app are those that promise to perform mining on your behalf and promise you rewards that never come. To avoid this type of crypto scam, it is good to know that for most cryptocurrencies, mining requires highly specialised hardware that is not compatible with mobile devices.

Rug pull

A rug pull is when scammers offer a new project, obtain funding and then disappear with the collected funds. A recent example of a rug pull was the Squid Coin scam, the token named after the Netflix series. Those who bought the token were engulfed in the hype of its quick price pump from 1 cent to $90. They then lost everything when the project’s founders stopped the activity and took the money, about $3 million, then disappeared altogether. To defend yourself against rug pull, you have to consider the project you intend to support from several points of view such as its soundness, the content of the white paper, the presence (and feasibility) of a roadmap and business model, and finally the identity and CVs of the founders. If any of these aspects are confusing or suspect, you are probably dealing with a scam.

Scams on social networks

Social networks are a frequently used channel for crypto scams. As already mentioned, YouTube is teeming with comments from fake traders promising easy money or “fake” livestreams asking people to send money in order to receive a larger sum. During these kinds of live feeds, the scammers are likely to pretend to be prominent industry figures willing to share their wealth with users. In this case, make sure that the channel from which the live is broadcast is official. On Instagram and Telegram, private messages dispensing supposed financial advice and proposing one-off deals are widespread. On Twitter and Instagram, you can also find posts promising fake or non-existent giveaways, or even fake profiles of projects or personalities from the crypto world trying to fool people. The most famous and popular ones in recent times are those that promise you NFT airdrops, but you only end up with your personal data getting stolen.

Social engineering: the basis of crypto scams

To recognise a crypto scam, it can be useful to study the basis of all such scams, namely the mechanisms of social engineering. This term refers to the persuasion schemes that fraudsters use to lure and scam people by exploiting their weaknesses and their good faith. Social engineering mechanics are behind strategies to lure victims, to befriend them via social networks or dating apps, and to induce them to download scam apps or to steal their crypto by accessing their sensitive information. Scammers investigate people’s weaknesses by exploiting people’s desires, emotions and cognitive biases to manipulate them.The techniques and types of scams that endanger our digital assets and information are diverse; learning how to recognise crypto scams is the first step to defending yourself.

Posted on

FAQ: Young Platform Clubs

How do the Clubs work? FAQ about the YNG token

Here are the Young Platform Clubs: packages of exclusive benefits and opportunities. Got doubts? Here is the FAQ!

Along with its market listing, the YNG token is introducing another new feature at Young Platform: the Clubs. They can be accessed by blocking a certain amount of tokens, and membership entitles you to discounts and promotions. What are Clubs? How many YNG do I need to block? How can I join? These and other questions are answered in this article. Welcome to the Young Platform Clubs FAQ!

Find out about:

  • What are the clubs?
  • What are the main benefits?
  • How does signing up for the Clubs work?

The benefits

What are the Clubs?

Clubs are the evolution of the proportional discount plans given by holding YNG.

They are packages of advantages that are accessible by blocking YNG. The more YNG you block, the greater the advantages and the higher the Club level you’ll get. Discover all levels on the Clubs page.

What are the main advantages of the Clubs?

The benefits reserved for Clubs are many and diverse, with constant updates and new ones in development. The higher level Clubs reserve more benefits in proportion to the number of YNG required for membership. Discover all the benefits in the dedicated app section or on the official Clubs page!

If I already have a discount on fees, what discount will I get by joining a Club?

If you already have an active fee discount and you join a Club, you will only benefit from the higher discount of the two.

If I have enough YNG to upgrade my Club level, but my membership is not yet expired, how do I do that? 

If you have enough YNG to advance to the next club, you can do so even if your 90 days of membership are not yet up. You only need to block the missing YNG to move up a level. For example, if you want to upgrade from Silver to Gold, you only need to have 5000 YNG to block in your membership, as you already have the other 5000.

To make this upgrade, click on the sign up button for the next club. From the moment you confirm it, your new Club membership will last at least 90 days. 

On the other hand, it is not possible to unlock YNG before the end of a membership to downgrade to a lower club.

Do the fee discounts given by the Clubs also apply to Young Platform Pro?

Yes

Sign-up process

When does club membership expire?

You can join a Club at any time. Membership lasts for a minimum of 90 days, after which you can cancel it if you do not want to remain in the Club automatically.

What’s the minimum amount required to access a Club? 

You need to block at least 1500 YNG to access the Bronze Club. These YNGs are not spent, but simply blocked until unsubscription.

What does ‘locking YNG’ mean?

It means that in order to sign up and remain a member, you have to ‘freeze’ a certain amount of YNG, i.e. keep it blocked without being able to sell or transfer it. This means that the moment you decide to unsubscribe, you can unlock YNG and use them as you wish. This is why you don’t actually spend money.

Can I use blocked YNG tokens to join a Club?

No, only free YNG tokens that are useable within the Step Wallet can be used for Club membership.

How do I sign-up to a Club?

In the top bar of the Young Platform app, you will see the ‘Clubs’ section. Click and choose the Club of your choice. Then to join, simply block the required number of YNG tokens. Membership lasts a minimum of 90 days.

Are Clubs also available on the Pro version?

No, the feature will only be available on the basic app.

How can I renew my membership?

After 90 days of mandatory membership, if you do not deactivate your membership manually, your membership will automatically be renewed.

Cancelling my membership

How can I cancel my Club membership?

You can only cancel your membership after 90 days. In the Club section of the Young Platform app, you will see the option to cancel your membership in a few simple steps.

What happens after I cancel my Club membership?

Your blocked YNG will automatically be transferred to your Spot wallet.

Posted on

FAQ: YNG token community sale 

FAQ: How does the community sale of the YNG token work?

The YNG token Community Sale allows you to pre-purchase YNG while saving money and earning bonuses. Having doubts? Here’s the FAQ! 

Today, the 10th of May, the Community Sale of the YNG token has begun. The big news has been unveiled: YNG will be released into the marketplace at the end of the month. Young Platform has organised a pre-sale for all those who want to buy YNG before the market launch, and you are entitled to a number of benefits. Welcome to the Community Sale FAQ!

What is the Community Sale and how long does it last?

The Community Sale is a period of time during which our users are given the opportunity to purchase our proprietary YNG token at advantageous conditions (Cashback, 0% commission and fixed price): it will last from 10 to 24 May 2022.

How much does the YNG token cost?

During the community sale, one YNG is equivalent to 0.24€. 

Are there fees for buying YNG?

No. During the Community Sale, no fee is charged for the purchase of YNG.

Is the cashback an offer valid for all?

Yes, anyone can obtain the cashback reward, by buying at least 200€ worth of YNG. The offer is valid for new as well as old users.

What’s the minimum amount to obtain cashback for buying YNG? 

You need to make a purchase equivalent to at least 200€, or 834 YNG.

The general minimum purchase amount is only 10€ of YNG, however you will not receive cashback for a purchase worth under 200€

In what currency will I receive the cashback?

In YNG.

How long will the YNG I get from cashback be blocked?

90 days from the day you made the corresponding purchase. If you make more than one purchase, you will see the differentiated expiry date for each cashback received.

Is purchasing with Cashback also possible on Young Platform Pro?

No. You can only receive Cashback by purchasing on the web and mobile (app) version of Young Platform in its basic version.

What will happen after the Community Sale?

After the 24th of May, the buying and selling of the Young token (YNG) will be blocked – until the 30th of May*. After that YNG will be launched on the open market and potentially listed on other exchanges, then the price will start to change according to the law of supply and demand. At launch, the buying, selling and trading of the token will be simultaneously rehabilitated. 

What happens on the 31st of May*?

The Young token (YNG) will become like any other token on the market, i.e. volatile. Starting from the price of €0.24, depending on the supply and demand of users, i.e. how much is bought, purchased or held, the price could rise or fall.

When can I sell YNG?

From the 31st of May* onwards.

What are the technical characteristics of the YNG token?

Young (YNG) is a token, and more specifically an ERC-20 token, i.e. based on Ethereum’s standard protocol token. This means that it is compatible with Ethereum’s entire ecosystem of wallets, blockchains and Dapps.

The role of YNG within the Young Platform ecosystem is that of a utility token, i.e. a token that, in addition to having a price, only has added value within the product system for which it was created, offering a series of specific advantages and use cases. 

Is whitepaper for YNG available?

The whitepaper will be available the day of market launch, on the 31st of May*.

If I already have blocked tokens from the 2019 crowdfunding, how do I distinguish them from blocked tokens for the community Sale?

If you are a 2019 crowdfunding investor on Seedrs, within the “Locked YNGs” section you will see an amount labelled “Crowdfunding” and other amounts labelled “Community Sale” with different expiry dates.

Can I convert YNG to other cryptocurrencies?

No, it will only be possible after the market launch, if pair listings with other cryptocurrencies occur.

*Dates are subject to change because of delays caused by third parties involved in the process.

Posted on

7 rules to secure your cryptos on Young Platform

sicurezza young platform

Security is very important to Young Platform, which is why we create content and features to help you properly guard your cryptocurrencies.

We’ve put together this handy checklist to help you make sure you’ve completed all the necessary steps to secure your Young Platform account. If you don’t know how to do this, the guides will explain all the steps in a simple way.

Your Security Checklist

1.  A unique, complex and hard-to-guess password

Scegli una password non legata in nessun modo alle tue informazioni personali, come ad Choose a password that is not linked in any way to your personal information, such as your date of birth or your children’s names. Also, use a unique password that you don’t use for other accounts. Read the guide.

2.  2-factor authentication

2-factor authentication is one of the most robust security systems we have today for managing our accounts on the internet. If you haven’t set it up yet, go to the Guide.

3.  Set up a PIN or FaceID

Make your account even more secure by setting your Face ID or PIN to access the Young Platform app. If you don’t know how to set it up, follow the simple steps in this Guide.

Be wary of people calling you on the phone!

4. Never give your credentials to anyone!

No member of the Young Platform Team will ever call you on your mobile phone to ask for your login credentials or any security code and most importantly, will never ask you to perform a transaction during the call.

5. Don’t trust anyone who calls you on your mobile and asks you to send them your cryptocurrencies!

No member of the Young Platform Team will ever call you on your mobile phone and ask you to send money to an external wallet address.

6. 3rd level identity verification

Only in case you apply for Level 3 Verification or higher, a Young Platform Team member may call you to complete the process together with an interview. Again, under no circumstances will you be asked to move money or your cryptocurrencies.

7. If you have any doubts, ask the Team for support now!

If you have any suspicions or concerns, before you make any withdrawals from your account and send your cryptocurrencies to someone you don’t know, open a support ticket. Our team will help you immediately.

Dive deeper on the Academy

Posted on

The ultimate guide to candlestick charts

Candlesticks charts are an advanced tool for technical analysis: they summarize cryptocurrencies’ price movements over a time interval

Now that we are getting deeper and deeper into the maze of cryptocurrency markets, let’s try to go one step further and understand how real traders who take advantage of technical analysis read charts.

What are Japanese candlesticks?

You have surely seen on some trading platform these strange charts composed of red and green vertical bars. These bars are known by the poetic name of “Japanese Candlestick”. The history behind this type of chart is as exotic as its name. The invention of candlesticks dates back to the 17th century, with the aim of predicting the price of rice.

Yes, technical analysis is nothing new.

If this article will arouse your curiosity to go deeper into this story, you will discover incredible details and nomenclatures, which make the ancient technical analysis a real Japanese art of the market.

Now let’s see how to read these charts: in this way, we will understand why they are so useful.

How to read candlestick charts

Candlesticks summarize price movements over a time interval, any time interval, which is usually selectable from the interface you are using. This time span can be just one minute or an entire day. Let’s take as an example a candlestick that symbolizes the price movement of Bitcoin over a single day. The whole chart will then represent the trend over a number of days.

Let’s suppose that during day 1, represented by a single candle, these price changes occurred:

Day 1 for BTC

  • Open: €6330
  • Maximum: €6620
  • Minimum: €6272
  • Close:  €6585

The corresponding line chart would look like this:

Let’s represent this day with a candlestick:

The body of the candle, the middle part in green, represents the difference in price between the beginning of the day and the end of the day.

The lower end, which marks the price at the beginning of the day, is called “open“, because it marks how the day opened.

The upper end, which marks the price at the close of the day, i.e. the last recorded, is called “close“.

The lines, similar to candle wicks, are called shadows. They represent the maximum and minimum price reached during the day. Shadows are essential for advanced technical analysis and should not be put aside.

Let’s now see an example of a negative daily trend for Bitcoin, by looking at a red candle.

Day 2 for BTC

  • Open = €6585
  • Minimum= €6272
  • Maximum = €6620
  • Close = €6330

The corresponding line chart would look like this:

Now, let’s draw the candlestick:

Being it a negative trend, the candle is red and the open will be higher than the close because the day will close in negative.

Why Japanese candlesticks are useful

Candlesticks are much more detailed representations of the price trend than a classic linear chart, so they are much more suitable for advanced technical analysis.

If we consider that the Japanese have been using them for 300 years, and have bothered to name every possible configuration of candles – as if they were tai chi positions – there must be a reason…

To get more and more familiar with technical analysis and chart reading, the best way is to start trying the new feature of Stepdrop: Up&Down.