Persistence XPRT 750 to 118 Migration Update – BINJ Team

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Executive Summary:

In this video, George, provides an insightful update on the process of migrating Persistence (XPRT) coins from the older 750 coin type to the newer 118 type. The update is especially relevant for users who have their coins stored in a ledger hardware wallet.

The video begins with George expressing his enthusiasm about the current trends in the cryptocurrency market, hinting at the end of a crypto winter and the arrival of a more optimistic period. He then swiftly moves to the core topic of the update: the migration of Persistence coins. He highlights the need for users to switch from the older coin type to the newer one, stressing its importance in the current crypto environment.

George provides a step-by-step guide on how to determine the type of Persistence coins a user possesses. He demonstrates this by navigating through the user interface, showing where to find the necessary information, and guiding viewers through the process. This part of the video is particularly helpful for users who are unsure about the specific type of Persistence coins they have.

Furthermore, George discusses the compatibility of different coin types with the ledger hardware wallet. He notes that while the Persistence Wallet supports both 750 and 118 coin types, there are limitations when it comes to the integration of these coins with the ledger. Specifically, he points out that the 118 type coin is currently not supported when used in conjunction with the Persistence app plus ledger, though it is supported in other configurations.

George concludes his presentation by addressing users who are not using a ledger hardware wallet, suggesting alternative methods for migration. He briefly touches upon the Kepler wallet but acknowledges the complexities involved in using it. Ultimately, he advises patience and compliance with the current rules until full support is available for the 118 coin type on the ledger.

Key Points:

1. Topic Introduction: George discusses the migration from Persistence XPRT 750 to 118 coin type.
2. Target Audience: Users with coins in a ledger hardware wallet.
3. Market Optimism: George expresses positivity about the future of cryptocurrencies.
4. Migration Need: Emphasis on the need to convert older coins to the new coin type.
5. User Guidance: Step-by-step demonstration on identifying coin types.
6. Ledger Compatibility: Discussion on the compatibility of coin types with ledger hardware wallets.
7. Limitations Highlighted: 118 coin type not supported with the Persistence app plus ledger.
8. Alternative Wallets: Mention of Kepler wallet as an alternative.
9. Patience Advised: Suggestion to wait for full ledger support for 118 coin type.
10. Conclusive Advice: Encouragement to stay informed and prepared for future updates.

Disclaimer
The content shared in this presentation is intended solely for informational and educational purposes. It should not be considered as financial, legal, or tax advice. The views and opinions expressed are exclusively those of the presenter, who does not hold any licensure as a financial advisor or registered investment advisor.
Investing and trading in cryptocurrencies are activities that carry a substantial risk of financial loss. The information provided does not imply or guarantee success or any specific outcomes. Potential investors and traders are urged to consult with professional advisors before making any financial decisions.
Please conduct your own research and due diligence, and acknowledge that you are solely responsible for any investment decisions you make. The presenter is not liable for any potential losses incurred.