Starting today, to transfer YNG from Stepdrop to Young Platform you will need to be already active on the exchange.
The reasons for the change are in line with our mission, with the vision we have for the Young ecosystem.
Young’s mission has always been to make the world of cryptocurrency accessible to everyone.
The reason is that we soon realized that the world of cryptocurrency reserves many possibilities and it is a sector with great potential. The current period is proof of this, given the relevance digital currencies gained during this crisis.
But let’s start from the beginning.
What is the Young Platform exchange?
An exchange is a platform that allows buying, selling and converting cryptocurrencies. The exchange developed by the startup Young is Young Platform.
What is the purpose of Stepdrop?
Stepdrop is Young’s first app, designed and developed with the mission to educate and raise users’ awareness on crypto-related topics and basic finance, to help them with their first investment in crypto.
To provide an additional incentive, Stepdrop distributes the YNG token, Young’s own cryptocurrency, to those who walk and win the challenges featured in the app.
The benefits offered by Young
On Young Platform you can store the YNGs accumulated with Stepdrop by withdrawing them. The more YNG you have on the exchange, the higher will be your discount on trades. Exchanges, in fact, charge a fee on every transaction you make.
We are not done yet
YNG will be launched on the market in the coming months. As a result, it will start to vary in price according to supply/demand and will become tradable with other cryptocurrencies at even lower fees than those it provides by simply holding it.
How does the new YNG transfer work?
Start by depositing a minimum of 20€ by bank transfer or deposit the equivalent of 20€ in crypto. Then make your first purchase of cryptocurrencies worth at least 20€. The investment will remain in your Young Platform Wallet until you decide to convert or transfer it. The Education and Support section are always there to help you figure out the next steps.
After that, you’ll be able to transfer your YNG from Stepdrop and get access to the proportional discount.
So, this means that you can transfer YNG only after completing:
- A deposit by bank transfer to Young Platform of at least 20€ or a deposit of the equivalent of 20€ in crypto.
- A purchase for the equivalent of at least 20€ (with EUR or crypto you already had).
NB: Selling YNG will not be considered a valid operation to unlock the transfer.
Those who have already done both operations must not repeat them in order to transfer their YNG.
If you are not yet registered on Young Platform, here are the guides to:
The Young Team