Why not Auto opt-in everyone?
Because of tax. In some countries you pay tax on income and digital assets are considered a “property”.
The laws regarding digital assets are different in different countries and in some countries there is no law
that covers that matter. Opt in process gives options for users in different counitries to
to avoid a taxable event or to reduce the tax by selecting the time in 6 year period in which
they are more comfortable to receive XYM.
Any ETA for Android wallet opt-in?
Not just yet - waiting on Apple and Google approvals.
Wasn’t sure where to put this clarification so I have come right back to the original opening announcement.
A couple of questions have been raised about a specific scenario where:
- A multi sig account has >100 XEM
- A cosigner on the multi-sig has <100 XEM
- Both accounts have opted in correctly
The clarify behaviour in this scenario, both accounts will be included in the Genesis/Nemesis block and both will have their balance included.
Doing otherwise would caus ethe multi-sig opt in to fail and need to be redone after launch or make it difficult/impossible for the cosigner to opt post launch because they would have been partially processed as part of the cosigner set up.
Hope that helps
Hello Dave, Not sure where to put this question. As the snapshot has been delayed until somewhere in March, does it mean that if we buy more NEM until then, we would still get equally XYM for such NEM, or was that stopped mid Jan?
Before snapshot, any xem you add to a wallet which has been opted in will result in the same amount of added xym at launch yes.
Hey Dave, maybe there were already answers to this, but is there really a sign of a sucessfull snapshot like a flag or confirmation message or something?
I heard about snapshot takes 5-360Blocks etc.
Max rollback on NIS1 is 360 blocks - so snapshot block + 360 blocks is probably the safest point
Any time between 1 and 360 blocks is your own risk based judgement on likelihood of rollbacks or not.
And of course the easiest way is to wait until Symbol launch and you see the tokens in your wallet on the new chain
Thank you Dave for clarification, very appreciated! Thx for your work
hi, could you please let me know why there are fees to optin as i read everywhere it was free?
Hey, i’ve opt in successfully. Can i transfer the coin’s back to Binance or do i need to wait for the end of Snapshot?
The fees are 0.2 XEM to opt in
so it’s not free…
Maybe it’s free when done trough binance or other exchange
You can send coins in and out of your private wallet
but you will get only equal amount of xym that will be in your private wallet on the snapshot block.
so if you opted in with 1000 or 100000 xem does not matter
what matters is that your funds are in your private wallet on time of the snapshot.
if you plan to trade in that time be aware that some exchanges do not support opt int or distribution of xym. regarding binance they announced that they will support opt in and xym distribution
but only for the funds that are on your spot account.
Also be aware that you will not be able to withdraw or send xem or xym to or from exchange
from 11th to 15th March.
Hi, I transferred my XEMs to Symbol optin using this instruction http://nemplatform.com/symbol-migration I did it quite successfully. I was given a wallet address (Your Symbol Address
NAKX6C-M7SGBX-66RGWI-UU4EJF-KF55G5-AUC7QV-XOQ) and mnemonic phrase and private key. Now I am downloading a new wallet version 0.15.0, I enter a mnemonic phrase and my wallet is not in the list! I saw my wallet only in version 0.13.5 Help me get XYM
how can I view the balance of the wallet NAKX6C-M7SGBX-66RGWI-UU4EJF-KF55G5-AUC7QV-XOQ
Best you wait until the Symbol Blockchain launches, and then download the most recent wallet version. Import the mnemonic and you should verify that the address is the correct one. Then, you should see your balance and are good to go to hold, receive, send and do much more.
According to the latest updates, the Symbol blockchain should launch within hours.