Frequently Asked Questions
xZAR is fully backed by AltCoinTrader (Pty) Ltd. # 2015/418624/07 one of South Africa's largest crypto and gold exchanges. This gives xZAR users the assurance that they are always able to simply exchange the xZAR token for Rands.1 xZAR = 1 ZAR!
xZAR is primarily used as a payment system. It allows an easy frictionless method of sending value. The uses for xZAR like any stable coin are only limited by one's imagination and it should be considered a business tool to be used to build on.
Yes! xZAR is on the open public Ethereum (ETH) blockchain and is open for anyone to use for individual or business use.
There are many ways to get xZAR tokens:
- Create a free AltCoinTrader account, deposit Rands then withdraw xZAR tokens
- Buy xZAR tokens from a decentralised exchange (DEX) like UniSwap.exchange or Balancer.exchange using ETH or other tokens. For a full list of projects using xZAR click here.
- You could also get paid in xZAR tokens from companies or individuals
This is not an exhaustive list there are many ways to get hold of xZAR tokens and if you do, remember they are to be considered real money worth one rand each!
Make sure you use the correct ERC-20 contract: 0x48f07301e9e29c3c38a80ae8d9ae771f224f1054 this is used when you set up your wallet. Tokens that add to this balance are real. If a token creates a separate balance it is a separate token and is not the real xZAR token and has no value. xZAR withdrawn from AltCoinTrader will always be genuine.
If you have a back up of your wallet, private key or your 12 or 24 mnemonic phrase words you will easily be able to restore your wallet. If you do not have a backup of your wallet and have lost your tokens your money is gone!
It is not advisable to send your xZAR tokens to any exchange unless you are sure that said exchange accepts the xZAR stablecoin token. Some exchanges may not recover your tokens and your money might be lost.
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