What is the Yotta Token website?
The Yotta Token web site provides information about Yotta Laboratories, what their aims and objectives are, and why they are launching the Yotta Token which is called YEdge Token.
What is a token?
Crypto tokens, which are also called crypto assets, are special kinds of virtual currency tokens and represent an asset or utility. Yotta Laboratories are issuing YEdge Tokens as a utility token to expand its business development activities, including the development of the Yotta Token Network. YEdge Token holders will be able to exchange tokens for Yotta services and products.
What is the difference between a crypto coin and token?
Very broadly, a crypto coin is just that: a coin or a digital means of payment, the express purpose of a coin is to act as money. A token has wider functionality but cannot be considered money in quite the same way that a coin can. Tokens offer more functionality over and above that of digital cash. They may deliver value to investors and can be traded, but it is important to note that the value can go up and down. Beyond speculative returns, Tokens can be used to purchase items that accept the specific token as payment, for example, the services and products that Yotta are developing.
Is crypto just a way for people to move money around anonymously?
The crypto industry is not regulated which tends to suggest that there is something ‘underhand’ going on. However, that is not the case. Regulated financial services, such as banks, have regulations in place to stop Money Laundering (AML) and to make sure any advice provided on potential risks on investments is fully explained. What you will find is that the crypto industry has become self-regulated and when you sign up for a wallet you will have to provide identity check details during the approval process. Once you are approved, you are also likely to have limits set on the maximum value of funds transfer that can be undertaken on a monthly basis.
Who are Yotta Laboratories?
Yotta Laboratories is a technology company which specialises in Distributed Ledger Technology (DLT)- commonly known as Blockchain, Artificial Intelligence (AI), Machine Learning (ML), the Internet of Things (IoT), Smart Contracts (SC) and Smart Cities.
Why are Yotta Laboratories looking to raise funds?
Yotta Laboratories are looking to expand its operations. The whitepaper provides the details and the company are looking to do this through the YEdge Token in the form of an initial token listing in the 1st quarter of 2021. It also provides some information on how the tokens will be utilised on the YEdge Token Network.
What is a Token Listing?
A token listing is when a token is made available to the public through an authorised exchange. Further information on Exchanges can be found on the website.
When is the Token Listing for the YEdge Token?
The public will be able to obtain the YEdge Token in the first quarter of 2021. Prior to this, there will be the opportunity to obtain the tokens through a pre-sale round on an invitation-only basis.
What is a pre-sale round?
A pre-sale round is an opportunity for early movers to obtain the YEdge Tokens before they are offered to the public through the token Listing.
How many YEdge Tokens are there?
There are 1 billion tokens in total and 45% will be made available;
20% (200 million) at pre-sale;
25% (250 million) to the public at Token Listing.
The remaining 55% will be retained by the company and their distribution is referenced in the whitepaper.
How much does it cost to purchase a YEdge Token?
The tokens will be made available to the public through the Token Listing in 2021 using the digital currency Ethereum (ETH) at $0.30 or the equivalent value of ETH at the $/ETH exchange rate at the time of acquisition
During pre-sale 2 (1st – 31st December 20) you will be able to obtain YEdge Tokens for $0.30 at the equivalent value of ETH at the $/ETH exchange rate at the time of the acquisition.
It there a minimum or maximum amount to purchase YEdge Tokens?
There is no minimum or maximum amount once it goes to Token Listing, you just need to make sure you have sufficient Ethereum (ETH) at the time of acquisition. In the Pre-sale rounds, YEdge tokens will be made available in packages.
Where can I find out more information on what the funds raised will be used for?
The whitepaper, available on our website, provides all the necessary details. It is extremely important to note that you MUST read the whitepaper to allow you to make an informed decision on whether the YEdge Token is right for you.
How will holding YEdge Tokens benefit me?
The YEdge Token is a crypto token. A crypto token is a security or a digital asset. Think about it in terms of it being a digital share. The digital shares can be traded (bought/sold) on a digital exchange at their current value. It is also important to note that once the products being developed by Yotta Laboratories are available, the company will provide the opportunity for holders of YEdge Tokens to use these to purchase the products. This also includes the YEdge Token Network
So if I trade them on a digital exchange, I might lose money?
The value of the tokens may go down as well as up, as with any asset. The marketplace value of the YEdge Token will relate to the demand for the YEdge Tokens once they are available to be traded.
If I want to sell my YEdge Tokens how soon can I do this?
The Token Listing will run in Q1 2020. The YEdge Tokens can be bought and sold through the approved Exchange once it is launched.
How do I go about obtaining YEdge Tokens?
You can purchase YEdge Tokens prior to listing at our web site with acceptable payment methods being crypto, credit/debit card or BACS/Wire transfer. It is important to note that you will need to have a Digital Wallet to receive the YEdge Tokens once purchased and instructions on how to create one is is provided once tokens are purchased. See Crypto Token section on the web site for general information on the process.
What is a Digital Wallet?
A Digital Wallet is sometimes referred to as an e-Wallet. Think about it in terms of having a type of online bank account. A simple example is Apple Pay. If you have an iPhone you can place funds in the wallet and use your phone to pay for items that accept Apple Pay.
In the crypto space, you need a Crypto Digital Wallet, such as the MEW wallet or the Coinbase Wallet and the currency is cryptocurrency such as BitCoin (BTC) or Ethereum (ETH). You buy BTC or ETH through the wallet and then you can use this to buy a variety of things, such as tokens. Further information on Crypto Digital Wallets can be found in The Wallet section on the website. You can also use a browser extension wallet such as MetaMask.
How secure is a Crypto Digital Wallet?
Crypto Digital Wallets are secured using extra levels of security through a series of cryptographic hashes. They operate on a decentralised blockchain platform and importantly, you are the only person accessing and managing it. To operate in the crypto market you need a Crypto Digital Wallet that supports the ERC-20 token standard as the YEdge Token will be available through payment by Ethereum. You also need to understand the term ‘Gas’
What is ERC-20?
ERC-20 is the Ethereum token standard which is used for Ethereum smart contracts. ERC-20 defines a common list of rules that an Ethereum token has to implement, giving developers the ability to program how new tokens will function within the Ethereum ecosystem. The main reason the YEdge Token will use this protocol is that it is a popular standard for companies offering a Token Listing.
What is Gas?
Gas, also known as a network fee, is a transaction fee and you need to make sure to include a little bit of extra Ether in your wallet to enable transactions within the Ethereum network. For example, if you are spending 10 ETH, the amount of ETH you will use will be, say 10.01 ETH and the additional 0.01 ETH is the transaction fee or ‘gas’ that is required to process your purchase.
Where does the transaction fee go?
The transaction fee or ‘Gas’ goes to the verifiers of the transaction who are on the Ethereum blockchain network.
What is a Smart Contract?
In simple terms, a Smart Contract is the autonomous electronic process that takes place to verify a transaction.
So in simple terms, if I want to buy YEdge Tokens I need a Digital Wallet, I need to buy some Ethereum and then use that to purchase the YEdge Tokens?
Yes, if you want to use crypto to purchase the tokens through our web site before the initial listing. You will also need a Digital Wallet to receive the YEdge Tokens once purchased. Prior to the initial listing on an approved Exchange you can also use a credit/debit card to purchase the tokens trough our web site.
Would you recommend buying YEdge Tokens?
Yotta Laboratories, its Directors and employees do not make recommendations as we are not financial advisors. We provide all the information that is required in the whitepaper for people to make informed decisions.
What are the next steps?
Please read the whitepaper. It is a pre-requisite that the whitepaper has been read before the company will consider entering into any transactions and it is important for you to understand what the company is all about, what the funds raised from the YEdge Tokens will be used for, and that purchasing YEdge Token is right for you.