WAX Token 19

You Can Now Use WAX Tokens on OPSkins!

Update: While WAX is in the alpha phase on OPSkins, daily transaction limits are subject to change. The limit amount is dynamic and can fluctuate based on which features are being tested. The limits will eventually be raised or lifted. Thank you for your patience while we work to make WAX on OPSkins the best that it can be.

WAX is now live on OPSkins! Any item on OPSkins can be bought and sold using WAX Tokens, which is now the cheapest, fastest, and easiest way to trade on our marketplace.

With this implementation comes a host of new features, which we’re here to break down for you:

Using WAX Tokens on OPSkins:

In the past, you could transact on OPSkins using two currencies: OPSkins Wallet Funds and Operation Points. WAX is now the third currency.

WAX Token

Viewing your account balances:

When you visit your Account page, you’ll see some new sections. The first is Account Balance > View Account Balances. Click on that and you’ll see a dropdown that shows your account balances of each of the three currencies.

WAX Token

Depositing WAX Tokens to your OPSkins Account Balance:

To deposit WAX Tokens to your Account Balance, you can click the + sign next to WAX in the Account Balances section of your Account page.  Send your WAX Tokens to the ETH address provided. You can also click “Deposit WAX Tokens” on the Add Funds page.

WAX Token

Withdrawing your WAX Tokens:

With WAX, there are no traditional “cashouts” like with other payment processors. Instead, you’ll be withdrawing your WAX Tokens to an ERC-20 compatible wallet address of your choice. The official wallet partner of WAX is Jaxx.io, but you can use any ERC-20 compatible wallet. On your Account Balances section of your Account page, click the – sign next to WAX. Enter the amount of WAX you wish to withdraw, the wallet address, and click withdraw. Please note that as with all other payment methods, you can only withdraw WAX Tokens that you earned from item sales – you cannot withdraw WAX Tokens that you deposited.

WAX Tokens

View your Cryptocurrency Withdraw & Transaction History:

Your Cryptocurrency Withdraw History can be found at the bottom of your account page.

WAX Token

As well as your transaction history:

WAX Token

Sellers can choose to accept WAX Tokens as payment:

Sellers can choose to accept any currency of their choice (although accepting USD is mandatory for every OPSkins account). By default, the proceeds from item sales will be deposited to the sellers OPSkins Wallet Funds and converted to USD as it’s been done in the past. However, sellers can now choose to accept WAX if the buyer pays for the item with WAX. If you indicate that you wish to accept WAX, the tokens will be deposited directly into your WAX account balance, rather than your OPSkins Wallet Funds. To change these settings, click “Currencies Accepted” on your Account page and check the box next to “Accept WAX”.

WAX Token

Buyers can choose to view item prices and pay in WAX Tokens:

You can choose whether you wish to view items in WAX pricing or just USD. To change this, visit Advanced Options > Show Cryptocurrency Price and select WAX from the drop down.

Item prices will appear as such:

WAX Token

To pay with WAX Tokens, when you visit your shopping cart you will have the option to “Pay with Cryptocurrency?” Select WAX Token here.

WAX Token

Convert your OPSkins Wallet Funds to WAX Tokens:

You can convert your USD to WAX and vice versa. To do this, click your name to reach the drop down menu and select “Convert Balances”. Here, you can choose the type of fund you wish to convert – either funds that are withdrawable/cashoutable (funds earned from item sales), or transfer funds that are not withdrawable/cashoutable (funds added via the Add Funds page or deposited to your WAX account balance). 

Remember – as with all other payment processors, you can only withdraw or cashout funds earned from item sales, so for example if you have USD that you added to your OPSkins Wallet Funds via PayPal, you can convert it to WAX via the “transfer only” option, but you cannot withdraw that WAX. However if you have OPSkins Wallet Funds that you earned from item sales, you can convert that to WAX via the “Available for Withdrawal” option and withdraw that WAX to an ERC-20 compatible wallet.

WAX Token

Click the fund you wish to convert, enter the amount, and click calculate to see how much of the other fund type you will receive. If you like what you see, click “Convert” and your wallet balances will update accordingly.

That’s it! Many more updates to WAX on OPSkins will be coming in the future, so stay tuned! Let us know what you think in the comments.

 

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19 Comments

  • Reply
    Birch
    Dec 20, 2017 12:51 am

    Just Fantastic! Thanks OpSkins for all your incredible work to bring Wax to life!!

  • Reply
    Aleksey Zhdanov
    Dec 20, 2017 9:04 am

    Very cool, I’m just now getting in to cryptocurrency and I was late to find out about WAX but I’m really excited about it and what it will offer to the skin community.

    Will there be an upcoming opportunity to buy WAX tokens in the future?

  • Reply
    RusKiller777
    Dec 25, 2017 12:34 pm

    Why i need spend wax? Why not USD?

    • Reply
      Matt Hamilton
      Jan 02, 2018 8:47 pm

      While we provide support for WAX Tokens on OPSkins, you still have the ability to choose which of the 3 currencies on our site you’d like to use. At the end of the day it is totally up to you!

  • Reply
    DangerRuss
    Dec 27, 2017 1:50 am

    Hello team WAX! I have a Question. Will the option $ still be available or only WAX? because why implement tokens when $ are still here. just confused. thank you very much to reply to email 🙂

    • Reply
      Matt Hamilton
      Jan 02, 2018 8:45 pm

      Yes, you will still be able to choose which currency you’d like to use when purchasing items from the Marketplace.

  • Reply
    Rene
    Dec 27, 2017 1:55 pm

    Are WAX Coins mineable?

  • Reply
    Andrue
    Jan 04, 2018 10:45 am

    So through reading this post and the comments, I noticed you guys purposely ignored the question of why. So why? Why WAX when there are TWO currency options? Can you tell us? Are you afraid to say they are paying you percentages of its use and earnings? Kind of funny how obvious it is that you ignore that question.

    • Reply
      Arielle
      Jan 04, 2018 7:20 pm

      Are you asking why someone would want to use WAX Tokens rather than Operation Points or fiat currency such as USD, Euros, etc.? There are a few reasons.

      1) Other payment processors charge high deposit and cashout fees. WAX’s fees are nominal.
      2) OPSkins prices are in USD, so many users of OPSkins must pay currency conversion fees to payment processors on top of deposit and cashout fees. WAX has no currency conversion fees because it is a cryptocurrency.
      3) Other payment processors can take hours or more to process transactions, and some require us to whitelist our customers. Neither of these apply to WAX.
      4) When WAX is adopted by other marketplaces, users will be able to transact their WAX for any item available on the WAX platform. You will essentially be able to sell your CS:GO knife and then buy another digital item from a completely different marketplace using the same currency, rather than having to cashout on OPSkins and add funds to another site.
      5) WAX will offer additional benefits later in 2018 when the custom blockchain token is issued, such as allowing anyone to operate their own digital items trading marketplace like OPSkins.

  • Reply
    Scott
    Jan 09, 2018 8:56 pm

    Brilliant! A great use case for cryptocurrency! All the best to you guys for 2018 I will be excited to see your guys grow!

  • Reply
    Jordan
    Jan 10, 2018 2:31 am

    Interesting…

  • Reply
    Adriano Puccinelli
    Jan 12, 2018 4:15 pm

    wax tokens price is based on ETHERIUM ?

  • Reply
    Marco
    Jan 22, 2018 4:37 pm

    Hello,im new to the WAX Token and im just wondering,how do i obtain it?

    • Reply
      Matt Hamilton
      Jan 26, 2018 10:20 pm

      Hey, as mentioned in the article we offer the ability to get WAX Tokens through our website by either converting your current wallet funds or accepting WAX as a form of payment for items that you sell.

  • Reply
    joe wright
    Feb 12, 2018 1:51 am

    if i buy something using wax but i dont have enough can i use usd to pay the remainder?

  • Reply
    Robert
    Mar 20, 2018 9:18 pm

    looking at the current size of this market, I think WAX tokens are at an almost give away price right now. My guess is that by the time the marketplace is live, WAX will be between $6-15 a token.. probably more by the end of 2019. The WAX project is going to be an amazing addition to online trading!

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