Your ZENIQ Hub and/or Safir Minting Hub generate ZENIQ coins that have a market value determined by transactions on exchanges. So the price is determined by demand and supply.
Private note: As for cryptocurrency exchanges, I am still able to assume that this method of determining value works. As for traditional exchanges and exchange rates, I am not so sure, and I have the impression that it is heavily controlled.
Also, strong oscillations (pumping) are seen on some cryptos. So the actual value depends on the so-called “events” and can fluctuate greatly, which should be considered when assessing the risk of using cryptocurrencies (and on the other hand, risk to loss the potential profit).
The ZENIQ Exchange is to be launched in the third quarter of 2023 (beta version in the third quarter of 2022).
And who knows, maybe earlier …
Until then, the withdrawal of ZENIQ coins is carried out by external wallets that support ERC-20 tokens and exchanges where ERC-20 tokens can already be exchanged (a smart contract for ZENIQ coins in the Ethereum network is defined).
Withdraw ZENIQ from Safir
You can see your ZENIQ coins on the Dashboard tab after log in.
You go to the ZENIQ >> ZENIQ Transfer tab.
You choose the Hub where the coins are (you can have more Hubs and you can withdraw coins from each).
You select the type of Coin to be withdrawn. Due to the fact that at the time of withdrawal, ZENIQ is on the Uniswap exchange, where coins with a smart contract in the Ethereum network are exchanged, we choose ZENIQ ERC-20.
You enter the Amount (ZENIQ Coin) to be withdrawn.
You enter the Payout Address of the wallet where you want your payout to arrive. For example, the MetaMask external wallet. See further.
Note: Until the current withdrawal process is complete, no further withdrawals are available.
An external wallet that allows you to: buy, store, send and swap ERC-20 tokens. You can add tokens that have a smart contract in the Ethereum network, i.e. the ZENIQ ERC-20 too.
MetaMask can be added as an extension to Chrome, Firefox, Brave (I prefer), Edge browsers. It is also available as a mobile application (iOS and Android).
To view ZENIQ coins in MetaMask, you need to add a custom token.
Click Add Token.
The Search tab shows popular tokens. To add other ERC-20 tokens select the Custom Token tab.
You need to know the ZENIQ ERC-20 coin contract address on the Ethereum network:
After you paste it, you will see the ZENIQ symbols and 18 decimal places.
You click Next, Add Token and you can see ZENIQ in MetaMask.
The Payout Address that you need to enter in Safir when withdrawing is at the top, hover over it and click to copy it.
When the withdrawal from Safir is confirmed by the Ethereum network, you will see your ZENIQ coins on MetaMask.
Connection of the wallet with exchanges
You need to link your wallet to exchanges that support ZENIQ ERC-20. Uniswap is such an exchange.
You open the home page and click Launch App in the upper right corner. Then Connect to a wallet. You choose a wallet to combine.
Converting (SWAP) ZENIQ coins to Ethereum cryptocurrency
Wybierasz w MetaMask ZENIQ.
You click Swap. You define how many ZENIQ coins you want to exchange on the Swap from. You choose Swap for which crypto / token you want to exchange for.
You click Review Swap. MetaMask looks for the best deal in terms of price and replacement cost.
Check rate and quote.
Click Swap. After processing, you will receive the crypto / token coins for which you have exchanged ZENIQ, e.g. ETH.
Withdrawal from the MetaMask wallet
To convert a convertible crypto / token into fiat or other crypto, you must either send it to the exchange service or to the exchange where you can convert it into fiat currency and withdraw by bank transfer or card, or convert it to another cryptocurrency, e.g. Bitcoin and withdraw in Bitomat.
All above options you can find at Binance exchange.
Example with numbers:
Withdrawal 3271.35615311 ZENIQ
The data below resulted from the market situation at the moment. Prices change dynamically, transaction times depend on the current network conditions.
1% and EUR 16.67 (ZENIQ 103.51) to cover network costs. In fact, the payout was less ??
Withdrawal time 24 – 48 hours. In fact, it turned out 6 days ??
In the end, it came out 1700 PLN ~ 370 EUR. In the final stage, these funds reached me in Tanzania in Tanzanian Shillings, in the order of ~ 940,000 TZS (see EMI below).
PS My Partners received the exact path along with the figures and details of the transaction.
Thanks to the solutions of EMI – e–money institution, Electronic Money Institution – you can have funds in the currency of many countries around the world in literally minutes. It is worth setting up an account in:
It operates on a banking basis and is available almost anywhere in the world. I used it in many countries, now also in Tanzania, so on an another continent.
Transfers in many options under a minute.
reference code: REFERA7YGVALYNKRB
Why is it worth creating an account from the links above? Because you will have the added benefit of being offered, in that case, by these EMI services.
Ask Admin about commercial offer for other.
** The information provided on the website are not an investment advice, they comes from the project’s source materials, corporate and partner presentations and my work with the project. They were presented according to my current knowledge and experience.
Risk and profit
Every businesses and new opportunities involve a risk. The greater the input (resources, work), the greater the risk but also the greater the potential profit.
Lost opportunities are also a risk.
Think! and analyse what you (don’t)choose.