How to deposit your TYC tokens on the Tycoon platform.
The long-awaited feature of TYC token deposit is coming up on the Tycoon platform. Let’s take the time to get to know it better.
Oh yes, it’s happening! The TYC token is starting to grow some serious muscles and becoming more and more functional. The Tycoon platform is ready to implement new features, so let’s take the time to learn how to deposit your TYC tokens onto the platform. Not only will your tokens be protected by a military grade security, you will also benefit from being one of the earliest people to join the party and test out new features. Let’s get started.
Before you start your deposit, it’s always a good idea to keep in mind that the TYC token works on the Ethereum network. At the moment the ETH Gas fees are quite low. If you like to save on the gas fees for your transfer, there are countless amazing tools that you can consult in order to gauge the exact gas price at this current moment. https://www.ethgasstation.info/ is just one of these examples. Usually the Ethereum network fees are lowest during the evenings, depending on your time zone.
In your Tycoon app interface you will notice that your yellow “Deposit” button is now visible. This option will allow you to start your deposit procedure. Let’s hit the yellow button.
You will be greeted with a message that states the correct TYC token deposit address. If you are keeping your TYC tokens on your phone, you can select a QR code that will conveniently work with your phone based wallet ( as shown in figure 3 )
Now we can safely copy the correct address and head down to the wallet that stores your TYC tokens. Here, just like with any other coin, we can select the TYC token, paste the deposit address and the total amount and simply hit “send”. If you want to be extra prudent, you can always send a test transaction ( of just a few TYC tokens ) in order to be sure that your deposit is confirmed on-chain. This can of course be verified by pasting your TYC token address into a handy tool like Etherscan. During peak usage of the Ethereum network, the transactions can get delayed, therefore it’s important to be patient and simply to wait until your deposit is confirmed. As you can see, it’s extremely easy and straightforward.
Please only use TYC token for depositing to the Tycoon platform. Please only use the ERC20 network ( Ethereum Network ) for your deposit. If you use any other network aside from Ethereum, your funds will be lost! Therefore please ALWAYS make a small test transaction of the TYC token and verify that it arrived onto the Tycoon platform safely. Please be very careful and in case you have questions, reach out to us via [email protected].
Risk Note: Trading cryptocurrencies is subject to high risks and may result in the loss of your capital. Please make sure you fully understand the risks associated with trading cryptocurrencies and only invest as much as you can afford to lose. Be clear about your investment objectives and experience, and seek advice from an independent financial advisor if necessary. It is your responsibility to determine whether you are permitted to use Tycoons’s services under the laws of your country of residence. Investments in cryptocurrencies are not protected by a Financial Services Compensation Scheme.