So guys just a quick update. As you probably know I like to say it as it is. Gets me into trouble more times than I can remember.
So this is my absolutely no holding back unbiased review about the validator and the Dascoin internal exchange, webwallet.
As you guys probably know I received my validator yesterday. The setup process is very simple as it’s almost identical to the nano S. I think the company do need to do a video themselves of the process for newbies.
The whole setup process took me less than 5 mins. The unlocking of the vaults was slightly glitchy but nothing to worry about.
I would recommend everyone to get their validator as soon as possible even if you do not intend to sell your dascoin in the near future. As you will be aware there is daily limit on the values of dascoin that you can transfer to your hot wallet from the vault. Once in the hot wallet there are no restrictions on trading. So if you intend on selling later on then at least transfer your daily limits to your hot wallet now on a daily basis so you can do as you please later on.
As you guys are aware I was one of the earlier adopters and risked over €25k of my money. Like with most things the bigger the risks the bigger the rewards. So I will receive nearly 1M dascoin and the purchase price for myself was approximately €0.02. The current price on the internal exchange is approximately €0.50 so that’s not a bad return. It will only require me to sell approximately 40k dascoin out of the million I will eventually hold to get my seed money out, hence I am going to be selling some daily.
Anyway back to the review.
Initially, I had some funds in my reserve account from commissions in one of my accounts. It was very easy to buy dascoin. In the exchange you will see everything you would expect to see in any exchange. I would like to see the addition of a max icon to self populate the amount of coins to buy or sell and also to click a buy or buy/sell order to self populate the price. Putting a decimal point in the wrong place can sometimes be a very costly mistake, I know from experience. Dascoin is intended for the masses who may not be confident without this feature.
So,I placed a buy for the value of the lowest sell order that was there, €0.50. As soon as I confirmed the order it was fulfilled. WOW, it was instant. I can see Dascoin's 6 sec blockchain working and can see how Daspay will work next year to allow mobile payments.
The only disappointment I had was that the new purchases dascoin, to my surprise, went into my vault instead of my hot wallet. I do understand the math to make this more desirable for the company in the comp plan. So the result is that I can’t sell those new dascoin immediately. I was surprised because there were initially reports of people selling and cashing out over €15k in a day. I’m not sure how that would be possible. Maybe it was possible initially and they changed it so any dascoin you buy using your commissions goes into the vault instead of the hot wallet, or they had a large number of president licenses. I’m not relying on commissions so overall very satisfied with the purchasing of dascoin on the internal exchange.
In order to sell dascoin, initially, you have to transfer your dascoin from your vault to your hot wallet. This process was again simple and self explanatory. The page shows the number of coins you can transfer. Again I would like to see an update so you can simply click this figure and it will self populate in the number to transfer section, or an icon to say maximum. This would make it quicker and simpler in the future. I like the fact that you are prompted to confirm the transfer in the validator. This makes it very secure.
Once your dascoin are in your hot wallet you can go to the exchange. I am quite impressed by the internal exchange. The selling of dascoin was as easy as the buying process. Again I wanted to see it all happening so I sold mine at the lowest buy price order, €0.49. My sell order was instantly fulfilled. I was extremely pleased with the selling process, more on that later. The money was available straightaway in my hot wallet to send to my NetLeaders account.
So I asked for the funds to be be sent to my NetLeaders account. This was by far the most disappointing bit of the experience as it was very glitchy. It wasn’t responding. I had to logout of the webwallet, switch the validator off, switch it back on, put the password into the validator, login to the webwallet again before it would respond to the request. I did 4 separate requests for withdrawals yesterday, explained below, and this happened on every occasion so it’s something that will need to be looked at and I’m confident it will be resolved soon enough.
The withdrawals hit my NetLeaders accounts this morning and I requested to be paid via Bitcoin. Confirmation of withdrawal done via link sent to my email. The bitcoin hit my Bitcoin wallet very quickly. Overall more than €400 withdrawn in less than 24 hours from getting my Validator. Overall very satisfied.
I spent over 3 hours after work on the phone last night helping some of my Downline and their Downline’s with the whole process. One of the last ones was nearly midnight. Now to my surprise as I was helping him I noticed that the amount of Dascoin I could transfer to my Hot Wallet had refreshed. So I did a transfer again and sold on the exchange as I was talking him through the process. To my surprise as I did it he noticed my transaction on his computer. It was instant and he was over 100 miles away from me. 😀
I've also cross referenced my transactions with the dascoin blockchain explorer. Everything seems to cross reference perfectly.
In summary, yes there are issues with the validator shipping. Yes there are little glitches and some improvements that can be made. However, this is still in the testing stages really. Only a month old. The improvements will come.
I must say I have had the unfortunate experience of dealing with OTHER internal exchanges in the past. This was a most refreshing surprise. Congratulations to all the webwallet team. 👏👏. Bravo!
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