X-Payment — Discord onboarding and beta launch
Dear X-Network community, today we are glad to put in your hand X-Payment for Discord!
WHAT IS X-PAYMENT FOR DISCORD?
In its first iteration, X-Payment is a Discord integrated solution where users can execute off-chain p2p transactions instantly, and at no cost.
With X-Payment, we aim to increase adoption of XCASH and cryptocurrencies by providing solutions which are targeted for retail users. Those solutions will cater to various types of communities to implement our service for their desired activities. We are thinking of gaming communities, sports betting, etc. and any other communities that could need p2p exchange of value features.
X-Payment will be active only on X-Network community at the moment, but soon we will start onboarding new communities to use the service. Because we are convinced this solution is a game changer and can bring added value to other communities, we have decided to make it free. Communities owners will still have the possibility to set up their own fees if they want to generate revenues, but the use of X-Payment itself will remain free of charge.
Additionally, we are working to integrate X-Payment with X-Bank to improve the synergies between our products. This means that in the near future, a single X-Bank account will allow you to fully manage your balances.
Currently, X-Payment is at a Beta stage. The first available features are public and private transactions, account statistics, and deposits and withdrawals. In the next release, we plan to provide a solution for community owners to have the ability to set transaction fees, as well as the creation of reward “pools” and escrow type services for members.
For further information or application, please contact @Animus#4608 on Discord or send an email to lovro@x-network.io
TUTORIAL: GET STARTED
REGISTRATION
To create your X-Payment wallet and start using it, go to any channel where X-Payment [bot] is part of and use the command:
$registerIf someone has already sent you XCASH, your wallet has automatically been created for you.
Note: Your X-Payment wallet is automatically associated with your unique Discord ID. You can have only one X-Payment wallet per Discord account. On the first iteration of X-payment, only one user can register every 5 seconds to avoid crowding the server.
HOW TO DEPOSIT
You can request the deposit instructions by executing the deposit command either through a direct message with the X.Payment [bot] or on any channel where X-Payment can be accessed:
$depositTo transfer XCASH to your own Discord Wallet, it is important that you provide appropriate address and exact Payment ID which is provided to you by the bot.
Payment ID is unique per user and is used to make sure that you are the one depositing to your wallet. Deposits can be made from a software wallet or from the X-Bank. Transferring directly from exchanges is not recommended due to the possibility of a deposit being lost.
HOW TO CHECK BALANCE
There are two ways for users to check their balance:
$mewhich returns all the information associated with your wallet (including statistical data)
or
$balwhich only returns the amount of X-cash in our wallet with the conversion XCASH to USD.
MAKING A TRANSACTION
Currently, transactions can be done only on the channel where X.Payment [bot] is present.
In order to mimic a bank transaction’s options as best as possible, we have integrated a personal message feature to allow the recipient to know what was the sender’s intention. To go even further uppon executed transaction, a report will be sent to the recipient and the sender where in-depth transaction details are provided.
$send <@discord_user> <amount> <message[optional]>The minimum amount for a transaction to be executed is 1 XCASH, and is limited to 1 transaction per 10sec per user.
You can also send a private transaction by using the command:
$private <@discord_user> <amount> <message[optional]>This way, only you and the receiver can see the transaction which is hidden to everyone else. 🕵️
WITHDRAWING THE BALANCE
The user has two different ways to withdraw balance to their wallet:
$withdraw <XCASH_address> <amount>where the custom amount needs to be greater or equal to 10,000 XCASH.
or
$withdraw_all <XCASH_address>which will automatically withdraw the total balance to the <XCASH_address> wallet.
Withdrawal to addresses starting with XCA or XCB is allowed, but not to addresses with a separated payment ID.
Why the amount cannot be less than 10,000 XCASH?
While X-Payment is tailored for micro-payments, on-chain transactions should not be used for this purpose. Also, as we are currently not incorporating the blockchain transaction fees in the withdrawals, we want to make sure that the fees remain low relative to the transferred amount.
Disclaimer: It is important to stress out that X-Payment wallet should not be used as a personal holding wallet to store significant funds. Always prefer a wallet where you hold the keys or cold wallet, which will always be more secure.
The information provided on this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the article’s content as such. Nothing on this article should be taken as an offer to buy, sell or hold a cryptocurrency. Do conduct your own due diligence and consult your financial advisory before making any investment decision. X-Network will not be held responsible for the investment decisions you make based on the information provided on the website.
