A guide to redeeming your LIFE
Step 1: Get an ERC20 compliant wallet
We suggest researching which wallet suits your particular needs – Crypto Compare offer a helpful comparison table, for example. Our only advice is to ensure that the wallet you choose is ERC20 compliant, which most ETH wallets are.
The following is based on using an example ETH wallet:
- Download the Ethereum wallet application and install it onto your computer.
- Follow the simple setup instructions to create your wallet – this is a third-party application, so we are unable to assist with this. If any issues arise with the configuration of your wallet, you will need to contact your wallet provider directly.
- IMPORTANT: Make sure your wallet password is strong, and that you store it somewhere safe and secure – you will not have the option to recover your password if you forget or lose it, and you will not be able to access your coins without the password!
- ALSO IMPORTANT: Once your wallet is set up, you will be given a wallet address which will look something like ‘DoNtF0rGeTyoUrPaSsW0RdAsYOuWillL0SeYoUrT0Ken5’ – keep this safe too!
Step 2: Redeem your LIFE coins
On LIFE launch day – 10 July 2017 – we will open a LIFE redemption page on the PureLifeCoin website. You will need to fill in the form on this page, providing us with basic details about the LIFE you have purchased, and your wallet address as described above.
Once we have your redemption request, we will verify your details and transfer your coins to you – this may take up to three days as we manually check that everything is as it should be.
We will send an email confirmation to you once the transfer is complete.
Step 3: Decide what to do with your coins!
Once you have your LIFE coins, it will be up to you what you do with them – you could:
- sell them;
- trade them for other coins; or
- hold on to them, and watch their value fluctuate with the market!
If you are thinking of selling or trading…
There are many FIAT and trading platforms for exchanging cryptocurrency for other currency, and we suggest researching to find one that you feel comfortable using – reading reviews is a great way to get a feel for a trading site through other user’s experiences.
For any exchange, you will need your wallet details to hand.
IMPORTANT: Whether you’re selling or trading, always take your time and read through the instructions – it’s your digital money, so look after it!
If you would like to hold on them…
You don’t have to sell or trade them straight away – as with stocks and shares (and other cryptocurrencies), the value of your investment will fluctuate with the market…
As with any market, there is no way to guarantee a return on investment, but we do recommend monitoring day-to-day trade and patterns to help inform your decisions.
Good luck, and enjoy the experience!