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.
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.
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.
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.
View your Cryptocurrency Withdraw & Transaction History:
Your Cryptocurrency Withdraw History can be found at the bottom of your account page.
As well as your transaction history:
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”.
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:
To pay with WAX Tokens, when you visit your shopping cart you will have the option to “Pay with Cryptocurrency?” Select WAX Token here.
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.
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.