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Frequently Asked Questions

We've compiled a list of answers to common questions.

Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some “stable” asset or basket of assets. A stablecoin can be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities (such as precious metals or industrial metals)

In KuBitX ecosystem, we have a suite of stablecoins for different countries in Africa, most notably NGNX (Naira Tether), GHCX (Ghana Cedis Tether), and KSHX (Kenyan Shillings Tether). All these coins are pegged 1:1 with their corresponding currencies as they are backed by actual cash in the bank.

Yes. Though the wallet is Stellar based in its architecture, we have included support for the popular coins like Bitcoin (BTC) and Ethereum (ETH)

This is pretty simple, simple project or print your address QR code and keep it in a well lit area. Your customers will simply scan your QR code from their KBX Wallet to make payment.

Sorry about this experience.

There are a few reasons why this happens:

Poorly taken selfie and photo of ID

  • Chances are that you are not taking your photos in a well lit environment or you are probably backing the source of light. Please face the light source and ensure that your face is clearly captured.
  • It may be that your picture of your ID is blurry. When taking a photo of your ID, touch your phone screen to keep the ID in focus before taking the shot.

Expired or unsupported documents

  • Expired documents will not work even if they are government issued.
  • Ensure to use  supported government issued documents
  • Ensure to take a clear photo of this document
  • Ensure that your bio details in the document matches information previously supplied 

The clearer your photos, the faster and seamlessly your KYC gets completed.

If you continue to experience failed attempts, please reach out to a support person on our official Telegram

The short answer is Yes.

The longer answer is most definitely.

You can pay your local bills using any of the assets listed in the wallet for which you have funds. If a particular asset is not supported, you will get a message notifying you at the point of checkout that such asset is unavailable for payments.

Our users love this part. We are pretty much just giving something back to you for supporting us all the way.

There are at least 3 major ways to earn on the KBX Wallet:

  • Referrals – when you share your reflink or sign up a user using your referrer name, you will get a fraction of their transaction fees every time they make a bill payment that has transaction fees (up to two referral levels!)
  • When you pay a bill using KBX, you get a loyalty bonus
  • When someone you have referred buys KBX (swaps any other asset for KBX) within the app, you earn a percentage of that purchase! (up to 2 referral levels) We call this our KBX Adoption Program. You earn an attractive bonus when your direct first referral has bought KBX worth certain stipulated amounts. Our users are also ranked based on the contributions of their referrals.

All KBX holders are informed to migrate their holding from the KuBitX exchange to the KBX wallet before May 27,2020. Download it here https://bit.ly/KBXPLAYSTORE

We would like to address some of the questions we have received from the community in response to the announcement.

 

 How will the exchange closure affect your investment in Kubitcoin (KBX) in the near future?

We, at KuBitX, are excited about this move and we think that our community should be as well. The KBX Wallet focuses on our vision of connecting more people in emerging economies and empowering business and value sharing across Africa, right within the Wallet.

This sector is growing and the KBX Wallet makes a statement that KuBitX is leading the innovation in intercontinental trades. 

Within the KBX wallets, users can use KBX, and other Stellar Lumens assets to transact across the continent,  convert  crypto to stable coins Nigerian Naira tether (NGNX) and Ghanaian Cedis tether (GHCX); more currencies are being added to serve the Pan-African ecosystem, buy airtime, pay bills, and buy gift cards. 

Users of our KBX wallet will soon be able to stake KBX coins to earn rewards, and receive cash back. 

While our wallet is still in the beta stage, it has already reached close to 2,000 regular users and continues to grow. We expect this trend to accelerate exponentially as we move from the beta to public release. 

  • KBX can be purchased directly from within our KBX Wallet using Fiat or stable coins, or from the Stellar Decentralized Exchange (SDex) via platforms like Interstellar Exchange

Simply download a Stellar Wallet e.g Interstellar, Lobstr and set up a trust line for the KBX token using the following information (You will need to have a few Stellar Lumens (XLM) in the Wallet.)

Asset Code: KBX

Asset Issuer: GDYXWLTGOUVQCEITFDTVH637TBKPMJUZTMGVLA37NXIJHER5RISZ5E5A

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