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What is the Bored Ape Yacht Club? Everything you need to know about the NFTs of the moment!

How much do you know about the Bored Ape Yacht Club, the collection that made NFT mainstream? Here’s its full story!

The Bored Ape Yacht Club (BAYC) marked the success of NFTs and made them mainstream. At almost two years old, it is the second largest non-fungible token project in terms of trading volume. But what is the Bored Ape Yacht Club? Who is behind it? Why are these ‘bored apes’ worth so much? In this article you will find everything you need to know!

Bored Ape Yacht Club: what is it?

The Bored Ape Yacht Club is a collection of 10,000 non-fungible tokens released by Yuga Labs in 2021. Each NFT in the collection represents an ‘Ape’, i.e. a monkey, generated by the combination of 170 randomly chosen characteristics, including expressions, headgear, and clothing. The concepts of combination and rarity are reminiscent of CryptoPunks, with the Bored Ape also being distinguished by its reference number. Technically speaking, these non-fungible tokens are ERC-721 tokens on Ethereum and their metadata are hosted in the decentralised repository of the IPFS.

Two spin-off collections derive from the Bored Ape Yacht Club: the Mutant Ape Yacht Club, which represents the monkeys in a ‘mutant’ version, and the Bored Ape Kennel Club, which includes the primates’ four-legged friends (pooches).

Celebrities who own Bored Ape

Owning a Bored Ape means belonging to an exclusive club of community benefits but above all social prestige. Many people from show business have climbed aboard the club that grants real status. Let’s take a look at some celebrities and their Apes:

  • Shaquille O’Neal
    The NBA champion owns a Mutant Ape, bought for $14,000;
  • Jimmy Fallon
    The Bored Ape number #599 is currently owned by the famous American talk show host. He bought it for $224,000;
  • Eminem
    In December 2021, Eminem bought an Ape for more than $450,000. An Ape that looks incredibly like him;
  • Neymar JR
    The player in January 2022 for 1 million took home two Apes, number #6633 and #5269;
  • Gwyneth Paltrow
    Paltrow’s last non-fungible purchase appeared on Twitter last January;
  • Justin Bieber
    The pop star keeps Bored Ape #3001 in his wallet.
  • Snoop Dogg
    The rapper in question, under the pseudonym Cozomo de’ Medici, is a big NFT collector. He certainly couldn’t pass up a few Apes.
  • Stephen Curry
    The four-time NBA champion also owns a Bored Ape, number #7990, which he has displayed for a few months as his Twitter profile picture.
  • Madonna
    “The Queen of Pop” owns BAYC number #4988, paid around $466,000.

How the Bored Ape Yacht Club came into being

Like all great stories, this one started with four friends at the bar. Gargamel, Gordon, Tomato and Sass, four eccentric, out-of-the-box types decided to experiment with blockchain and create some not-so-smart-looking monkeys. The first step was taken by Gordon who immediately came up with a detailed and enviable business plan, namely a chat message: ‘let’s make an NFT’. Gargamel and Gordon had stumbled upon cryptocurrencies in 2017 and in the famous bar they tried to pull the other two in. You know that friend for whom any opportunity is good to talk crypto? Spoiler: if you can’t think of anyone, it’s you.

Tomato and Sass’s role in the project was technical, meanwhile another message had arrived: “do you know JavaScript?”. Apparently it seemed essential to them to create NFT (spoiler #2: it’s not so much). All four of them together founded Yuga Labs to make digital, authentic art on blockchain. In February 2022, the American tabloid BuzzFeed published a report revealing the identities of two founders of the Bored Ape Yacht Club, specifically Gordon and Gargamel whose real names would be: Wylie Aronow and Greg Solano, two 30-year-old Florida residents. The article triggered a fierce reaction from the community, which accused BuzzFeed of illegally violating the privacy of the two founders.

But why monkeys? In the crypto world, monkeys are common animals, almost as common as whales. According to a long tradition, cryptocurrency traders affectionately refer to each other as ‘monkeys’. Cryptopunks also have monkeys, and they are among the rarest.

Key moments in the history of the Bored Ape Yacht Club

The Bored Ape was released in April 2021 and in just a few years wrote NFT history, achieving sensational milestones. Here is a brief summary of the highlights of BAYC:

  • 23 April 2021: launch of the collection with a one-week pre-sale. During this time, only 500 Ape were sold at 0.08 ETH (at that time about 220 USD);
  • 1 May 2021: crazy night when all 9,500 remaining Apes were sold! On that night, BAYC’s smart contract was the most used smart contract on Ethereum: “our Discord went from totally dead to the most hype place in the crypto world”. The collection thus sold out;
  • 8 August 2021: opening of the BAYC Riverboat Casino in Decentraland developed with Decentral Games;
  • 28 August 2021: arrival of the Mutant Ape Yacht Club, each ape owner received a symbolic ‘serum’ to mutate their ape with matching but ‘genetically modified’ traits. In addition, 10,000 more Mutant Apes were born,
  • 9 September 2021: During an auction at Sotheby’s (the famous auction house), a lot of 101 Apes was sold for almost $25 million;
  • 17 December 2021: collaboration with Adidas to bring the sports brand into the Metaverse.
  • 18 March 2022: airdrop of Apecoin (APE), the BAYC governance token, developed by ApeCoin DAO and not directly by Yuga Labs;
  • 19 March 2022: launch of Otherdeed, the LANDs of the Bored Ape Metaverse, Otherside (not yet officially released);
  • 16 July 2022: online the demo version of Otherside in which 4,500 users participated, the first exclusive journey into the Bored Ape Metaverse;
  • 19 January 2023: release of Doo-Key Dash, a mini-game for NFT holders of the Bored Ape Yacht Club to win valuable prizes;

Who illustrated the Bored Ape?

The Bored Ape originated primarily as an art project, their ‘bored, scruffy, punk’ graphic design stemming from the joint work of several freelance artists. All Seeing Seneca worked for four days under the creative direction of the founders to outline the basic character, later Mig and Thomas Dagley and two other artists who wish to remain anonymous created the expressions, clothing, accessories and design of the club itself within a month. The Mutant Ape Yacht Club is the work of Dagley and Lovans Hartes.

The Bored Ape are the undisputed stars of the crypto space

BAYC is now an institution in the crypto space. Apes are used as avatars for experiences that have to do with the Metaverse or Web3, such as Jenkins The Valet, the creative writing project using NFTs, or the digital band set up by Universal Music, in which the members are four Apes. A Bored Ape even appeared in the Adidas commercial for the 2022 World Cup, on the packaging of a cereal box. These are just a few examples, to keep up to date with all BAYC initiatives, there is The Bored Ape Gazette.

Another project developed by Yuga Labs is ‘The Bathroom‘. A virtual bathroom where each club member, i.e. those who have at least one Ape in their wallet, could paint a pixel on the wall for 15 minutes. “As with any good dive bar bathroom, this is the place to draw, doodle or write expletives”. An artistic and collaborative experiment for the cryptosphere, as crazy and creative as the four founders of BAYC. The (improvised) writers of the Bored Ape Yacht Club did a rather original job, even two Crypto Punks appeared on the canvas!

The universe of the Bored Ape

Yuga Labs is regularly releasing applications and features that help expand its ecosystem. The most important project is certainly the Otherside metaverse, announced in March 2022 and already ‘tested’ by the community. It is not yet known when this virtual world will be available, but to console users who can no longer wait, the mini-game Doo-Key was released in January 2023, opening a new chapter in the lore (plot) of the Bored Ape Yacht Club.

NFT Yuga Labs owners have previously minted the Sewer Pass to gain access to the game. In the game Doo-Key, the objective is to retrieve a valuable key lost by the careless character Jimmy The Monkey while darting through the sewers. This key, if collected, will allow you to open the door to the next scenario, learn about new plot developments, and qualify for exclusive prizes from the Bored Ape Yacht Club.

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What can you do in the Metaverse today? 5 real use cases

What are the most interesting use cases of the virtual world? Discover 5 things you can do in the Metaverse!

Since October 2021, when Facebook with Meta drew attention to this technology, there are those who promise that the Metaverse will be the future. But what can you do in the Metaverse today? Will it be a virtual world populated by cutting-edge social networks and video games? Or is it just a lucrative marketing opportunity for brands? In short, the decisive question is: will it be useful in our daily lives? The activities it will host will be of a varied nature, at the moment developers, brands and crypto companies are experimenting and proposing events of all kinds, from book presentations to weddings.

General trials of the Metaverse are underway and there is no shortage of difficulties, especially at the technical level. It is clear that to establish itself as the technology of the future, the use cases will have to be accessible and widespread, as well as the equipment to access them. We can only speculate about the future, but let’s return to the present and see 5 things you can do in the Metaverse today!

1.    Attending a concert

One of the things you can do in the Metaverse is to attend concerts! These kinds of events started as a temporary solution to the interruption of live performances due to the COVID19 pandemic. But even now that in-person activities have resumed, concerts in the Metaverse have not been sidelined. The virtue of this mode of entertainment is interactivity, as participants’ avatars can interact from anywhere in the world and win prizes in the form of NFTs.

The most famous concerts so far have been: that of BLACKPINK, a K-pop group from South Korea, in the July 2022 battle royale video game PUBG. And those of Charlie XCX, Justin Bieber and Twenty One Pilots in the Roblox metaverse. These musical events in the Metaverse were celebrated and ‘nominated’ by MTV, which created an ad hoc award for virtual performances at the MTV Video Music Awards 2022.

Record companies are also planning to enter the Metaverse; Warner Music, for example, has decided to open a concert area on a LAND in The Sandbox.

2.    Organising a business meeting

Those wondering what can be done in the Metaverse should not lose sight of all the implications for professional activities. This reality could be a useful resource for all those companies that rely on remote working. By organising these meetings, human relations and ‘office communication’ could be recovered. Remote working is becoming more and more common and is transforming the way people manage their lives and the way they understand space and cities. It is likely, for example, that in the future it will not be so essential to take a home near the workplace.

Some platforms that perform this service are Horizon Workrooms, Meta’s app, and Gather.town. The slogan of the latter is ‘remote working should not isolate – build the office of your dreams’. Hundreds of teams have already moved into their virtual office, Gather also hosts academic conferences and job fairs. Moreover, this is an effective alternative to expensive and logistically complex business trips for companies.

But how does a meeting take place within the Metaverse? Sammy King, a Meta employee, described how a virtual meeting takes place inside a Metaverse. Unlike in a traditional video conference, where only one person can speak at a time, thanks to a technology called spatial audio, participants can talk to each other as if they were in a real office. This feature, together with the high degree of immersiveness provided by virtual reality visors, makes the meetings completely different from those on Zoom or Google Meet. “For the past couple of years we have become accustomed to talking to people through screens, but now suddenly you have the feeling of being close to your colleagues even if you are working in different places. It’s a real breakthrough,” said King, commenting on his first meeting in the Metaverse.

3.    Video games on another level

Among the things you can do in the Metaverse, however, is not just work! As can be gleaned from its etymology, this reality aims to be an extension of the real world, which in the field of video games takes the form of a realistic gaming experience. The prototypes of fully immersive video games that we know today are in the primordial stages of their development and consequently cannot yet convey the sensations that we might experience when playing in the future.

The technology that seems to have the potential to revolutionise the entire sector is virtual reality, for realistic video games. Haptic garments, on the other hand, aim to make users experience ‘on their skin’ (on a tactile level) what happens to their avatar inside the virtual world, a bit like in Steven Spielberg‘s film ‘Ready player one’. The Metaverse will also help video games develop their own economy. Play-to-earn games such as Axie Infinity, Star Atlas or even Metaverse games such as The Sandbox and Decentraland already have an internal economy that functions thanks to cryptocurrencies and tokens.

4.    Attending a fashion show

Among the answers to the question “what can you do in the Metaverse?” There is also: “attend a fashion show”. The Metaverse Fashion Week in Decentraland 2022 was the first international fashion event in the virtual world and the second edition will take place from 28 to 31 March 2023. Last year, fashion houses of the calibre of Dolce & Gabbana, Tommy Hilfiger and Etro participated and the main objective was to involve as many people as possible in an environment that is often reserved for the few.

But there have been plenty more fashion shows in this reality! For example the Meta Festival in Dept in the Metapolis metaverse attended by Coca Cola, Calvin Klein, H&M and Netflix. Or the Digital Fashion Week in New York, an event where fashion companies were able to showcase their latest work and debate stimulated by films and speeches about the future of the industry.

5.    Teleporting to the other side of the world

Let’s end this list of 5 things you can do in the Metaverse on a high note, that is: holidays!

Would you like to go skiing in the Dolomites or snorkelling along the coast of Bali while exploring locations in the Metaverse? Travel companies are already gearing up to allow their customers to experience excursions to the places they intend to visit. Thanks to virtual and augmented reality, you can get a taste of sunsets in the Moroccan desert or the Norwegian aurora borealis and thus decide whether they are really for you before booking your trip. Not only travel agencies, but also hotels and restaurants can use the Metaverse to their advantage. How many times have you ended up in a hovel that according to the booking ad was supposed to look like the Palace of Versailles? Or to end up in a dive bar while expecting to dine in a luxurious restaurant?

The Metaverse became popular after the COVID-19 pandemic, an event that showed us that our lives can change radically and suddenly. With the return to normalcy, however, this technology has not disappeared, but has continued its evolution. In some areas it has already been used and proved useful, while in others it still has some way to go. Despite this, however, the answers to the question ‘what can be done in the Metaverse’ are becoming more and more numerous, a sign that the development around this concept has never stopped. From virtual parades to play-to-earn video games to ‘a taste’ of your future holiday.

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Bitcoin Halving 2024, everything you absolutely need to know

Bitcoin halving 2024: all the things to know

When is the next Bitcoin halving scheduled? Things to know to prepare for the event!

Bitcoin’s next halving is scheduled for early 2024, when block number 840,000 will be mined. Why is this such an eagerly awaited event? What will happen next? Let’s try to shed some light and go over all the things we need to know about it.

Next Halving Bitcoin 2024: what is this operation for?

Halving is the internal mechanism within the Bitcoin system that regulates the gradual decrease in rewards given to miners who validate blocks. It serves to reduce the crypto in circulation, to maintain scarcity. Miners in fact receive a share of BTC every time they validate a block. Halving has been an element of BTC tokenomics since its creation and is managed by an algorithm. 

When the halving takes place and how the exact date is calculated

Bitcoin’s next halving is expected to arrive between March and May 2024, at block No. 210,000 starting from the previous halving, so at No. 840,000. It is an event that users might not notice as it does not alter the state of the blockchain in any way, only the miners notice it; but nevertheless all crypto enthusiasts await this moment with trepidation. The moment the last of the 210,000 blocks is validated, the issuance of BTC is halved. 

To calculate when the next halving of Bitcoin will take place, you need to multiply the number of blocks that need to be validated from one halving to the next (210,000) by the time it takes to do so, which is on average 10 minutes. Then you need to divide the resulting number by 60, which is the number of minutes that an hour consists of. Doing this quick calculation we find that about 35,000 hours pass from one halving to the next, plus or minus 1458 days or a little over four years. In order to know the exact date of the next halving in 2024, we need to look at what block number we are at day by day. 

These ‘halvings’ will not be infinite, they will cease when the maximum supply of Bitcoin, which amounts to 21 million BTC, is issued, presumably around the year 2140. This means that the cryptocurrency still faces about 30 halvings in 117 years.

How many rewards will there be after the 2024 halving?

Another key piece of information about halving has to do with the issuance of Bitcoin over time. Miners, at the time Bitcoin was created (January 2009), received 50 BTC for each validated block. The first halving took place in 2012 and halved the rewards to 25 BTC. The process was then repeated in 2016 and 2020 when the rewards per block became 6.25 Bitcoins. At the next halving in 2024 these will become 3.15 BTC.

On the Young Platform exchange you can follow the price of Bitcoin in real time and monitor the impact of the next halving.

Check the price now

Halving and the price of Bitcoin 

As the issuance of this crypto is halved, Bitcoin becomes scarcer and scarcer and this indirectly has an impact on the price. In the months following the halving in 2012, the price increased by almost 12,000%, and after the halving in 2020 by about 300%. Of course, halving is not the only cause of these incredible bullish rallies in the past, but in general the price of Bitcoin has always responded positively to this recurring event.

Halving also affects Bitcoin’s inflation rate. In 2011, for example, BTC was subject to an annual inflation of 50%. In 2012 this became 12%, while today it stands at around 1.77%. One wonders at this point, where it will go after the next halving.
Although the latter is an automatic event, it does not go unnoticed but strongly influences the Bitcoin ecosystem and also the entire crypto world. A year after the expected process, we still find ourselves caught in the clutches of this seemingly endless bear market. Will the euphoria that grows as the next Bitcoin halving of 2024 approaches help the crypto market raise its head?

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How do concerts work in the Metaverse?

Concerts dans le Metaverse : comment fonctionnent-ils ?

More and more artists are choosing to perform virtually and bring their audiences into the digital world. But how do concerts in the Metaverse work? 

Concerts in the Metaverse were born during the pandemic, as a ‘creative’ response to all the bans and curfews. Does that period also seem very far away to you? It was the year 2020. All live events were forbidden and curfew was at ten o’clock. Not only bad memories, at that time thanks to technology we reinvented entertainment! 

All thanks to motion capture!

The technology that makes concerts in the Metaverse possible is motion capture. The movements of live performers are captured with suits and sensors and projected to their digital avatars. Just to name a few, this is the case of Lil Nas X and his concert in front of 33 million users in the Roblox metaverse, Ariana Grande‘s performance on Fortnite and BTS‘s performance on Minecraft. 21 Pilots also performed in 2022 on Roblox. The members of the American duo said they were able to convey their energy to the viewers, thanks to the motion capture technology provided by Xsens. Being both musicians, they not only sang but also played their virtual instruments. In short, the challenge was even tougher, but the motion capture lived up to expectations.

How much do concerts cost in the Metaverse? Where do they take place?

These gigs take place on video games and specialised platforms or on decentralised metaverses such as The Sandbox and Decentraland. The latter has hosted several world famous artists in the last period, including Ozzy Osbourne and Soulja Boy. There are also events that take place in theatres with the addition of virtual elements. In some cases it is necessary to buy a ticket as in a normal concert, in most cases attendance is free. In addition, seats are unlimited, one of the advantages of the Metaverse is that there are no space problems. 

What happens at a concert in the Metaverse? 

Every concert is unique and so as not to generalise, we prefer to tell you about some of them! 

The best concert in the Metaverse according to MTV

At the MTV Video Music Awards 2022, an ad hoc award was created for performances in the Metaverse, won by BLACKPINK, a Korean K-Pop group. The performance, which took place within the video game PUBG, featured stunning graphics and a surreal set design that eventually turned into a mini-game involving the audience. The skins (costumes) of the four singers were available for purchase on the video game store in the days leading up to the event.

ABBA

ABBA, the Swedish pop group, staged a hybrid event in 2022. Hybrid because they performed from a London location and at the same time, thanks to motion capture, the artists appeared on stage as if they were performing straight out of the 1970s. Mood, costumes, sets and all! 

Ariana Grande’s Rift Tour

Among the most famous concerts in the Metaverse, how can we not mention the one by Ariana Grande that took place on Fortnite on 7 August 2021 and is considered one of the best ever. In the first part, each user came face to face with the singer, a situation that seemed almost real thanks to the video game’s graphics. The moving rendition of Raindrops was followed by some dance and trap tracks in which the audience went wild. The performance ended in a temple in the clouds, where the artist opened a ‘time-space’ tunnel to allow Fortnite players to return to the set where the game is usually set.

Pre-tour event for Justin Bieber

To launch his 2022 world tour, Justin Bieber did a free show on the Wave platform on 18 November 2021. Viewers of this concert in the Metaverse were able to interact directly with the singer during the performance, chat with fans from all over the world and at certain times, express preferences on how the event should continue. 

Limits and potential of concerts in the Metaverse

Most of the concerts in the Metaverse are still in hybrid form and not fully digital. This is due to the fact that the servers hosting these events are still to be upgraded. For example, the ability to host an unlimited number of users without crashing could be improved. To eliminate the problem of sold-out tickets once and for all. 

Beyond the technical limitations, concerts in the Metaverse seem to bring great possibilities. Both for spectators and performers, who have the opportunity to experiment with special effects and settings that are difficult to reproduce on a real stage. 

If you have always dreamed of being able to teleport to the other side of the world to hear your favourite American artist who hasn’t come to Europe since 1492, concerts in the Metaverse could be for you. The sensations are different from those of a live concert, but no less ‘real’.

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Young Platform launches the ‘pay-to-card’, fiat currency withdrawal service on credit and debit cards

Checkout.com and Visa

The partnership between Young Platform, Checkout.com and Visa to bring card withdrawal service from a cryptocurrency exchange to Italy kicks off

Turin, 02/03/2023 – Italy’s leading regulated cryptocurrency exchange Young Platform, in partnership with Checkout.com and Visa, launches a pay-to-card service that will allow its customers to make instant withdrawals from the exchange platform to their credit or debit card. Young Platform thus becomes one of the only two exchanges in Europe able to provide this feature to holders of cryptocurrencies on its platform. This is a major milestone among the services offered by the crypto company, resulting from its partnership with leading players on the global fintech scene.

Checkout.com is the only payment service provider to have created an entirely new infrastructure covering the full payment value chain. Visa Direct‘s recent expansion into Italy will enable consumers to make instant financial transfers to payment cards worldwide.

The joint initiative between Young Platform, Checkout.com and Visa will therefore enable Young Platform customers to use Visa Direct integration for real-time transfers to Visa credit, debit or prepaid cards. This will ensure a secure, simple and accessible customer experience, at a time of significant growth for the real-time payments industry globally. 

According to an international survey conducted by Visa (‘The Crypto Phenomenon: 2022 Consumer Attitudes & Usage’), public awareness of cryptocurrencies remained almost universal between 2021 and 2022, and crypto ownership even increased by 2 percentage points among respondents (to 34%). Motivations driving adoption include- among the others – the desire to participate in a financial and cultural movement And the increased awareness on how to buy and store crypto.  

According to a Visa Study on digital payments trends (https://www.visaitalia.com/visa/sala-stampa-visa/press-releases.3193090.html), the knowledge of cryptocurrencies is widespread (57% of Italians interviewed know cryptocurrencies), with 10% of Italians questioned currently owning them; 13% of the Italians involved in the research are interested in cryptocurrencies, but this rises to 2 out of 10 of those questioned among the very young Gen. Z.

As part of this backdrop, Young Platform aims to develop an entire ecosystem of applications around its exchange, with a single goal since its launch in 2018 – to make cryptocurrencies accessible to all the people who want to use them. Partly as a result of this approach, the young fintech has established itself as one of Italy’s most promising startups, garnering a large community of more than 1 million users and a €16 million first funding round led by Azimut in June 2022. Just six months later, Young Platform was granted certification by the Financial Markets Authority (AMF) in France (Europe’s third-largest crypto market according to Chainalysis). AMF granted Young Platform the Issuer Identification Number (Psan) reserved for financial services providers operating across the Alps.

“Young Platform’s work with digital currencies is based on its mission to create services increasingly tailored to everyday use that give people peace of mind and full freedom in managing their money,” recalls Andrea Ferrero, CEO of Young Platform. For Young Platform and its 2 million customers, pay-to-card represents another step towards opening up this exciting new world to a wider audience, securely and reliably. We are convinced that blockchain technology and cryptocurrencies represent a great opportunity to create a fairer and more sustainable future. We will continue to work with passion and dedication to realise this vision with the help of prominent partners such as Checkout.com and Visa”.

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Euro withdrawal to payment cards now available

From today you can withdraw Euros from Young Platform to your enabled credit and debit cards. Find out how!

Is the card your favourite deposit method, with its immediacy and flexibility? Then this is the moment you have been waiting for.

You can now withdraw funds from your Euro wallet and transfer them to the card you already use for deposits. 

What’s more, Young Platform is the second exchange in Europe to integrate withdrawals to credit or debit cards. Not bad, right? 

How does withdrawal work?

The ability to use this withdrawal method, the amounts allowed and the timing of the transaction depend on the type of card you have and your past activity.

Supported cards

Cards that support this functionality are only those enabled with Mastercard Send or Visa Direct.

Users who can use the functionality

You can only use this withdrawal method if:

  • You have already used a Mastercard Send or Visa Direct card to make deposits.

And 

  • You have entered your telephone number during sign up.

If you have not performed these two actions, you can complete them at any time and thus activate the card withdrawal. How?

When you attempt the withdrawal, you will automatically be asked to provide your telephone number. This number is only needed to receive the security code to confirm the withdrawal and guarantee that it was you who made the withdrawal.

Maximum withdrawal amount

The maximum withdrawal amount is calculated based on your past deposits, as follows:

Limit = Sum of the amounts of all deposits made with one card – sum of the amounts of all withdrawals made with one card.

Let’s take some examples:

  • If I have deposited a total of €50 with my Visa Direct since I added it, and I have never made a card withdrawal, I can withdraw up to €50 (Limit = 50 – 0)
  • If I have deposited a total of €50 with my Visa Direct since I added it, and I have withdrawn a total of €20, I can withdraw up to €30 (Limit = 50 – 20)

Please note: If you remove your card and add it again, your total deposit and withdrawal account will be reset to zero and consequently withdrawal will be disabled. You will have to deposit again to be able to withdraw.

Timing and fees

If your Mastercard Send or Visa Direct card does not support fast funds, withdrawal may take up to 48 hours.

If your card supports fast funds, withdrawal may take up to 30 minutes/1 hour. The fees charged are the same as for a card deposit: 2.2% + €0.25.

If you have any questions, please contact support!

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Young Platform launches partnership with Freename.io for Web3

freename partnership

Turin 1st March 2023 – Young Platform is proud to announce a strategic partnership with Freename.io, a leader in Web3 domain services.

Freename.io is an innovative platform that makes it possible to purchase, manage and use Web3 top and second level domains in an advantageous manner, also thanks to the possibility of obtaining royalties. To clarify the difference between top-level and second-level domains, let us take the example of freename.io: the “.io” is the top-level domain (TLD) while “freename” is the second-level domain (SLD). Whenever a new user buys a domain on a given Top Level Domain, the owner of the TLD earns 50 per cent of the value of that domain, effectively becoming a Registrar capable of generating profits. 

From a technical point of view, Freename.io’s Web3 domains are NFTs, non-fungible tokens, compliant with the ERC-721 standard and thus compatible with the entire landscape of existing crypto services and applications. Currently, Freename.io supports the Polygon, Binance, Aurora and Cronos blockchains. 

The integration resulting from this partnership will allow our users to search for a Freename.io domain directly on the Young Platform Web, evaluate its price and decide whether to purchase it. Freename.io domains can be used to send your tokens to a crypto wallet: in fact, the domain contains the information needed to tell the blockchain which wallet to send the tokens to. Therefore, thanks to the integration, it will be possible to send and receive your cryptocurrencies from Young Platform wallets via domains instead of wallet addresses.

Web3 domains are essential for exploring the potential of the Web3. These have numerous functions such as that of a readable and easily shareable wallet address, resolver of traditional websites, domain to create and display a decentralised website and to send blockchain-based emails and messages. Precisely because of these and other functionalities, Web3 domains are used to manage one’s identity on the Web3 and bring together all one’s online profiles in a simple and straightforward tool.

Freename.io fits into this context and aims to make it easier for users to enter the new decentralised phase of the Internet. A mission in line with that of Young Platform, which aims at the dissemination of these topics in order to bring greater awareness.

The blockchain and cryptocurrencies will be the beating heart of Web3, a decentralised, transparent version of the internet that enhances artists and content creators. We are witnessing a real paradigm shift in which all the benefits of blockchain will be applied to the internet in all its aspects, from information sharing, to payments, to virtual socialising opportunities.

Davide Vicini said: “We are delighted to partner with Young Platform, a leading crypto exchange in Europe and at the forefront of the Web3 world. The integration of Web3 domains will allow Young Platform’s customers to be able to use their own domain as a payment address, send and receive Web3 emails and browse the Internet normally with Freename domains.“

Young Platform CEO Andrea Ferrero concluded: “We are happy to welcome Freename.io to our platform, offering our customers the opportunity to buy and exchange Web3 domains. This partnership represents a step forward for us in making the use of cryptocurrencies and Web3 domains more accessible and user-friendly for our users.”

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The 3 big advantages of choosing Freename

Why choose Freename? The 3 advantages

If crypto domains are the watchword for Web3, TLDs are the passepartout. But only with Freename.

Freename is a service that simplifies the adoption and integration of Web3 domains on the Internet. The project starts in Switzerland, the historical crypto valley, and builds its approach around three industry pillars: interoperability, entrepreneurship and transparency.

The interoperability of Freename domains

Crypto domains are not just websites: in Web3 they become the keystone, facilitating the whole online experience. Domains thus become our online identity, declined in its various applications: an alias for social networking, a professional email, a wallet, the username in a game – all collected under the same domain. This requires a high level of interoperability with decentralised applications (Dapps) and also with Web 2.0 applications, in order to speed up adoption.

However, it is important not to underestimate the basic level of interoperability needed, which is not yet an effective industry standard. Dapps, exchanges, wallets, NFTs and blockchains should be usable together, seamlessly.

Each project develops different solutions to achieve this vision. Freename, for its part, started by developing compatibility with numerous blockchains, of which four are already available.

The most interesting feature in this regard, however, is the Freename Web3 Browser Extension, available for Chrome, Firefox and Brave. This browser extension acts as a bridge between Web 2.0 and Web3 through five different functionalities:

  • Registrar, a direct link to the site for creating domains and TLDs on Freename
  • Browse, an address bar where you can enter a Web3 domain and also find its associated content on Web2.
  • Web3 WHOIS, the explorer for all Web3 domains even beyond Freename
  • Web3 Email, an interface to use your own crypto domain as an email address and communicate with other domain owners
  • Payments, still under development.

Thanks to the Young Platform integration, it is also possible to withdraw cryptocurrencies from the exchange to a Freename domain. To send crypto, it is then sufficient to type in the domain name instead of the wallet address.

The perfect solution for a Web3 enterprise

The freedom to create your own TLD is certainly one of the aspects that most distinguishes Freename from other Web3 registrars.

If you are a crypto artist, a content creator, or have a Web3 company, Freename has thought of you too. What better way to promote your business than through a dedicated TLD?

Imagine if your company name became the next “.com”. With Freename, every time someone buys a domain with your TLD you get royalties.

That’s not all: you can make your brand’s TLD a registered trademark under Swiss law, so that it is also legally protected against counterfeiting and fraud.

For particularly high-profile brands and public figures, there is also a domain and TLD protection service called ‘protected domains‘. Simply contact the Freename team to take advantage of this service.

Security and transparency starting with technology

We have already talked about the Web3 WHOIS explorer designed by the Freename team. This is crucial to give users control, as it allows them to check the ownership and operations of domains directly on the blockchain. The ability to verify the existence or authenticity of a Web3 domain also protects against phishing attempts.

The development roadmap is completely transparent: you can always see the stage of development of the service and also propose updates via the dedicated section, as well as vote on those already proposed.

In short, with Freename your Web3 site will be completely under your domain. Discover the unique opportunity to access it at a bargain price with the Young Platform Clubs.

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New Club Benefit: Get a coupon for Freename

Join a Club and get a Freename domain: together we will dominate the Web3!

Freename is a platform where you can create, buy and sell not only Web3 domains, but also TLDs. We have talked about all its innovative features on Academy, but here’s a little spoiler: it is a Web3 swiss made entity.

Web3 domains are now a must-have for every Web3 citizen, and if you are in a Club, you can get one even for free! But what are the pros of having a Freename domain?

Let’s get to it and find out all the details of this new benefit reserved for Clubs on Young Platform.

How does the benefit work?

If you are a member of a Club, from today 1st March you can get a coupon on Freename for a variable value depending on the level you belong to.

This is also valid for those who join the Clubs after 1st March!

freename web3 domain coupon

Here are 5 things to keep in mind before you start:

  1. The application of the coupon on Freename is automatic only if you start the purchase from Young Platform Web.
  2. The coupon can only be used once. Any credit not used at the first purchase will therefore be lost.
    Example: my chosen domain costs $85. I have a coupon of $110. I add the domain to the basket and proceed to the purchase. Once the purchase is confirmed, I will not have spent anything, but I will have lost $25 in coupon credits.
  3. You can purchase several domains at a time by adding them to the same shopping cart and using the same coupon for the total spend.
  4. Both the possibility of obtaining the coupon and the benefit expire on 16/08/2023.
  5. In addition to second-level domains, the coupon is only valid for the following TLDs:
    • “metaverse”,
    • “hodl”,
    • “moon”,
    • “lambo”,
    • “token”,
    • “airdrop”,
    • “chain”,
    • “layer”,
    • “satoshi”,
    • “genesis”.

Now is the time to take action and dominate the Web3!

How to buy a Freename domain on Young Platform Web

Thanks to the integration of Freename on Young Platform Web, you can search for available domains directly from your desktop account.

So here is how to make a purchase.

  • Log in to Young Platform from the desktop version
  • Go to the Wallet section
  • You will see a box dedicated to Freename, click on the button
  • Look for the Web3 domain or TLD you want in the search bar
  • Select it
  • You will be redirected to the Freename site
  • Add the domain to the cart
  • Create a Freename account
  • Add your details to the cart and accept the Terms and Conditions
  • If it is a TLD, you can choose to tick the Royalties option, which will require you to pay $50 in order to obtain royalties every time someone uses your TLD.
  • You will see the coupon applied to your cart automatically

If you are unable to apply the coupon to a domain or TLD on Freename or to purchase a domain or TLD from Young Platform Web, it means that this domain is not covered by the Clubs promotion and is therefore not compatible with the coupon or not available, but you can still purchase it by accessing Freename directly and proceeding independently of Young Platform.

  • If the credit does not cover the entire spend, add a payment method, either Metamask or credit or debit cards are accepted.
  • Confirm the purchase
  • View the purchase in ‘Portfolio and Incomes’, under ‘Domains’.

Now the domain is yours, but the ownership is not yet registered on blockchain: you need to mint it first:

  • Click on ‘Mint Domain’ next to the purchased domain
  • Choose the blockchain you want to mint it on, based on the ones supported by your wallet and that you use the most
  • Select the destination wallet by clicking on “Add a new address”.
  • Click on ‘Connect wallet’
  • Choose Metamask (if you do not know how to create a Metamask wallet, here is the guide)
  • Give Metamask permission to connect the wallet with Freename by clicking ‘Next’ and then ‘Connect’.
  • Click on “sign new address” on Freename
  • Signature on Metamask
  • Click on “Save changes” on Freename
  • Click on “Confirm mint” on Freename

Your domain is now inviolable: being indelibly associated with your wallet, no one can take it away from you until you put it up for sale.

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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.