Quote from: cointorox on December 10, 2018, 05:32:36 AM

Quote from: btcsharehub on December 08, 2018, 08:52:50 AM

Quote from: cointorox on December 08, 2018, 04:54:03 AM

Quote from: btcsharehub on December 08, 2018, 03:47:35 AM

What are some of the benefits of using the piggybank rather than just going through a normal exchange and buying & storing the coins myself?

The benefits are as follows:

1) Automatically convert & store your fiat currencies into your pre-selected cryptocurrency portfolio
- save time & efforts of buying multiple coins & fees spent on the exchanges

2) Simplified KYC until you withdraw your savings
- Exchanges may take days to verify your identity, let alone bank transfers will take at least 24-72 hours. Eliminate the opportunity costs involved with waiting for you to get verified & acquire cryptocurrencies right away.

3) Powerful Features
- Many experienced traders go through the phase of 'frustration' which most likely ends up with negative solutions such as getting involved in high risk projects or simply gambling away what's left of their investments. With the powerful features of Cointorox Piggy-bank, users are able to (i) automatically sell all coins should values go below actual saved amounts (ii) lock savings for a specified period of time to prevent YOURSELF from using them.

For a full list of the powerful features, please refer to: https://medium.com/@cointorox/9-powerful-features-of-your-digital-piggy-bank-68f9cae8f03

1) How does my fiat currency automatically get converted & stored in cryptocurrencies? Will you guys be the ones doing the exchange? Will I have access to my private keys?

2) Simplified KYC as in... what are you guys really referring to when it means simplified.

3) How will my funds be kept or stored on your wallets if we don't have access to private keys and can we withdraw coins freely once we have acquired them?

Hi there,

1) The platform will have pre-acquired top-tier coins which will be used to auto-swap your fiat into coins. It is all automatically handled. You can request for your private keys but once you do so, your coins will be considered 'withdrawn'.

2) We have simplified the KYC process by automatically blocking access from certain countries whereby jurisdictions are unclear regarding cryptocurrencies. KYC process is required only as you withdraw your savings for the first time. Meaning, you are able to set up an account and acquire cryptocurrencies without wasting any time - particularly useful when an opportunity arises.

3) The funds are stored in a cold wallet (offline wallet) and once you have acquired your coins, you are free to withdraw them to your external addresses.

So KYC is only required when a user withdraws? what happens if KYC fails? will my funds return in coins or USD