Before we publish the full FAQ so that everyone can find their questions, we have decided to create a TOP 10 of the most frequently asked questions that you send us. Maybe you will find answers to them in this article!
1. Can I withdraw money that is visible in the wallet?
You can withdraw tokens from your wallet whenever you want. But it doesn’t mean that you will get the value from them. Currently, the price per token is set by the issuer in the crowd sale — because there is no market for them. Some users decide to price their tokens really high, but these prices will be verified by the market, and for this you need the functionality of the exchange. This will be a major update that will probably appear by the end of this year. Be patient and wait for the ability to trade tokens in the app.
Sorry to be a bummer but you probably won’t be able to pay out millions. It will be possible to exchange for cash, but this will strongly affect the price of the tokens.
2. How do I withdraw funds after the crowdsale has ended?
USD raised in the crowdsale is paid out in the form of the USDC stablecoin to the Sapiency wallet of the user. It takes up to 72h to clear the payment. After the payout, you can withdraw your USDC where ever you want. Currently, payouts are processed manually but it will be more automated in the near future. Ultimately, this is going to work so that users will be able to withdraw USDC to themselves and cash it out wherever they want.
3. I want to send tokens to someone, but I forgot the PIN. What should I do?
In this case, reinstall the application or clear its cache. After you login, you should be able to set a new PIN.
4. I no longer want to see a particular creator’s content in the app, what should I do?
At the moment the only way is to get rid of his tokens — you can send the tokens of a given influencer back to him, because hodler = follower. The content of a given creator will not appear on your feed if you do not have his tokens in your wallet.
5. Is it possible to save card details?
We are working on streamlining the payment process and adding other options. We currently avoid saving card details as they are extremely sensitive and we do not want to expose users to leakage.
6. How long does it take to create my token after filling out the form in the application?
The standard waiting time is 1–2 days — this process may be slightly extended due to the arrival of more applications. Some applications need some more diligence so they might take longer, but you will receive an email when your token will be created.
7. What is the difference between Sapiency and crowdfunding portals?
This question sometimes comes up from creators who create an account on Sapiency with the intention of raising funds for a chosen cause.
First of all, it is important to point out that Sapiency is a unique application that allows creators to issue their personal tokens on the Blockchain. We are not a place where the main and only goal is fundraising. We are first and foremost an algorithm-independent platform that enables creators to create unique content and build the purchasing power of their tokens with content.
So the basic difference between Sapiency and crowdfunding sites is that fundraising in Sapiency for a cause of your choice is just one of the many features available in the app. The app is a tool for engaging the community of creators. In Sapiency, users get more than gratitude and satisfaction, and creators can look forward to growing their personal brand through demand for their token!
8. Will there be an option where there will be separate Airdrops and Crowdsale creators from their regular posts?
Yes, in the latest update, we have divided feeds into two: Home and Discovery. Home feed will show you posts of the influencers you hold. On the Discovery feed you will be able to find airdrops and crowdsales of creators you don’t yet follow.
9. Are my personal tokens worth anything?
You set the initial price of the token and once you get on the market and get listed on an exchange, the worth of your token is validated in real-time by the market and its users. So to be precise, your tokens are worth as much as someone is willing to pay for them.
10. How do I send personal tokens to other people?
To send tokens from our wallet in the app to another user, select the token you want to send in the wallet and swipe to the left. Click on the “Send” option. Fill in the fields “Recipient” and “Amount”. After clicking “Send” the tokens will appear in the recipient’s wallet within a moment!
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