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29.09.2020
News

Q&A Tuesday Session with Credits’ CEO Igor Chugunov

We collected questions from all our social media and community chats last week and I am happy to answer the main of them below. Thank you for your engagement!

Q:  “When cs wallet available in Asia?”

A: Thank you for the question. The availability of digital products depends on local regulations. We have touched this subject in our recent article. To make it short: as there is no unifying law on the crypto products, we as a company have to present our products for each new region separately. Credits’ wallet was launched in the EU first as a big part of our community is based there. We are in process of finalizing the best legal option of presenting it in Asia and other regions too. We will keep you updated on the exact expecting timing in our roadmap. 

Also please note that we have 2 wallets, Credits wallet, which is yet not available in Asia.

And CS Crypto, available globally, and these are the links below for getting the app.

I hope it helps!

https://apps.apple.com/ru/app/cs-crypto/id1453191196?l=en

https://play.google.com/store/apps/details?id=com.credits.CreditsWallet


Q: “Wazirx delisted CS. What can I do?. I Have 20k cs coin.?”

A: You will need to contact the exchange, and ask for the withdrawal of your ERC20 tokens. After you have done this, you can swap using the Manual Swap Guideline. 


Q: “What is your opinion on the hacking of the KuCoin exchange? Were Credits affected by this hack?”

A: It is a pity this happened. This hacker’s break-in indeed reminds us all that the security of the products in the crypto world should be kept under constant guard and improvements. 

Credits would like to inform you that we were in touch with KuCoin right after the incident and can confirm that our holders were not affected.


Q: “Gateio swapped to native CS coin, right?”

A: Yes, Gateio have made the swap quite a while ago, our native coins are now traded there.


Q: ”Hello what's the difference between delegate and node

Is both earn the same rewards? And one question, which is better staking or delegate

Means which way I earn more income?”

A: Node is a contribution in the consensus-building and you can earn on it as per the bonus structure in place. 

Delegation means the process of "lending" your coins to someone. Delegation is done with a condition that the person who borrowed it from you cannot transfer them. But these coins will be taken into account when the process of the trusted node choice is made in the consensus. You have got the option to delegate for a fixed period of time and they will return to you automatically;  or indefinitely, in this case, you will need to bring them back by yourself. 

You can and will earn by keeping the node as per the bonuses Credits’ structure, in addition to this currently, we run the Node reward program to support holders.

Today delegation as a method of earning yet does not allow you to receive a direct profit, unless you agree with a borrower on some dividend.

With a future progressive building of Credits’ consensus and its expansion, you will be able to earn from the delegation process directly.


Thank you for staying with us and taking active discussions in our TG chats, please send us more questions you would like to be covered here. 


Igor Chugunov,
CEO of Credits.


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