Coinvest Platform Wallet Announcement and COIN V3 Token Update

We’d like to announce to the community that we are launching our Coinvest Wallet tomorrow, November 1st and that the COIN V3 token upgrade will be live on November 7.

Coinvest Wallet

The Coinvest Wallet is the first and foundation of flagship products the company is releasing in its ecosystem. The Coinvest platform has an intuitive, integrated wallet that will safely store your cryptonized assets, enabling the storage of multiple coins such as Bitcoin (future release), ERC-20 compatible tokens, and more. Similar to other major wallets on the market today, you can expect to perform functions such as sending and receiving, while safely storing your digital assets. In the coming weeks, we will introduce an update to include trade functionality. Thus, empowering users to invest in hundreds of different assets and indexes using only the Coinvest wallet and COIN. Over time, expect even more functionality and improvements as we roll out additional features and other core product and services in the entire Coinvest ecosystem. You can access the wallet here and see our guide on how to set up a wallet here.

COIN V3 Token Upgrade

As you probably already know, the COIN token will receive a new upgrade from COIN V2 to COIN V3 in order to address a security vulnerability and to further enhance features in COIN. If you haven’t read the announcement yet, you can find it here.

Please be aware that COIN V1 and V2 will no longer be supported on any Coinvest-sanctioned exchange and because of this, you will need to withdraw your COIN from these exchanges and make a transfer to a Coinvest compatible ERC-20 wallet in order to perform the upgrade. Note that the exchanges will typically allow you a grace period to withdraw tokens before discontinuing support, but we recommend you doing it ASAP to avoid confusion and risk of losing your funds. (HitBTC and IDEX have requested a significant amount of funds to update to the COIN V3 contract). As a result, we have opted to no longer partner with either exchange moving forward. Rather, we are encouraging all token holders to transfer your assets to Coinvest and upgrade to V3 for access to trade on Coinvest or Coinvest Plus. While a tough decision, we are disappointed in the lack of flexibility from HitBTC and IDEX to support our company and token holders considering that we originally invested over $250K on listing fees on these exchanges earlier this year.

You can transfer either COIN V1 or COIN V2 to your wallet and the Coinvest system will automatically detect the COIN and offer an upgrade. For further help for the upgrade, you may view the step-by-step Coinvest V3 Token Upgrade Guide. After you perform the upgrade, we recommend that you keep the COIN in our wallet until we launch Coinvest Plus this November. Furthermore, keeping these tokens within our platforms to support usability, liquidity and the overall ecosystem is recommended.

While there is no deadline for the upgrade if you’re using your own ERC20 compatible wallet, we highly recommend upgrading your COIN to take advantages of the latest features and updates that include important bug fixes and more. Additionally, COIN V3 is required for trading on Coinvest, Coinvest Plus, and other exchanges. Older versions of COIN will no longer be supported. We recommend you keep your COIN within our ecosystem.

As always, thank you for your continued support.