Read Before You Start Investing on SQRBIT!

Here’s what you need to know to invest through the SQRBIT DS Dashboard.

This section is designed to help those who are new to blockchain technology learn how to use it. We’ve tried to make it as simple as possible.

If you are an experienced blockchain user, you can skip this section.

Feel free to share your experiences and suggestions for making it easier at support@sqrbit.com.

The SQRBIT DS Dashboard operates on the BNB Smart Chain and requires BNB for gas payments on this network. We provide general information about the BNB Smart Chain to help investors who are new to blockchain learn the basics..

Metamask Blockchain Wallet

Security tokens exist on the blockchain, so you need a blockchain wallet to receive them. A blockchain wallet grants you access to an address on the blockchain, also known as a wallet address. Your wallet address must be whitelisted on the SQRBIT Platform to receive security tokens.

The SQRBIT DS Dashboard supports MetaMask, and you can also connect your wallet using a private key. We recommend using MetaMask.

There is a MetaMask wallet app for mobile devices and an extension for desktop or laptop browsers.

The MetaMask extension supports Chrome, Firefox, Brave, Edge, and Opera browsers. Therefore, the SQRBIT DS Dashboard works only in those browsers.

⚠️ The MetaMask app for mobile devices includes its own browser. If you’re using a mobile device, you can download the app and use its built-in browser. Often, this is more convenient than using your phone’s standard browser.

If you don’t have MetaMask, you can download it from its official website https://metamask.io/.

When you install it, you’ll be prompted to create a new wallet. Follow the steps provided; the process is straightforward and includes helpful security information.

See the guidelines at Getting started with MetaMask | MetaMask Help Center 🦊♥️

We strongly recommend that you save your seed phrase, also known as your secret recovery phrase, immediately. Do not share it with anyone.

Read more about security measures in the MetaMask User Guide: Secret Recovery Phrase, password, and private keys.

MetaMask’s default network is the Ethereum Mainnet. If you need to use other networks, you will need to add them manually.

🔰 Note:

When you create a MetaMask wallet, by default, you receive one address.

You can add as many addresses as you want by clicking the +Add account button.

You can think of it as a usual wallet or purse with different compartments. You have one wallet (MetaMask) and several compartments in it (addresses).

To see the tokens in your wallet, you need to add their contract addresses. You can think of them as credit cards: one card is your USD account, another card is your EUR account, and the third card is your local currency.

Same with contract addresses. If you want to see how many USDCs you have, you add the USDC contract address. If you want to see your security tokens, you must add their contract address.

Only native tokens of the networks don’t need to be added. Because they are native to the network you add, their contract addresses are added automatically when you add a network. If you need to add BNB Smart Chain, its native token, BNB, will be there without any action from your end.

BNB Smart Chain

SQRBIT DS Dashboard currently supports only the BNB Smart Chain. You will need to add BNB to your wallet to invest in SQRBIT Portfolios and to pay the gas fees. See more details below.
There are several options for adding the BNB Smart Chain*. The first two are the easiest and fastest.

1. On the desktop or laptop, you can add the BNB Smart Chain in the MetaMask Settings—Networks. See the screenshot on the left.
On a mobile device, click the network name at the top of the window and click Add Network—Popular. Two screenshots are on the right.

On the desktop/laptop.

You can go to the BSCscan* https://bscscan.com/, scroll down the page and click the button

Click it and your MetaMask will open and ask “Do you want to add this network?” and “Do you want to switch to BNB Smart Chain?”

Agree with it and allow it to add the network and switch to it.

*BscScan is a Block Explorer and Analytics Platform for BNB Smart Chain. In other words, you can check any transactions on this network here.

Add the network manually.

On the desktop/laptop, go to the MetaMask Settings—Networks and select Add a network manually. See the screenshot on the left.

On a mobile device, click the network name and select Add Network—Custom networks. See the screenshot on the right.

Enter the information into their relevant fields:

Network Name – Smart Chain
New RPC URL – https://bsc-dataseed.binance.org/
Chain ID – 56
Currency Symbol – BNB
Block Explorer URL (Optional) – https://bscscan.com

✅ Congratulations! You have added the BNB Smart Chain and can work with it. To do any transaction on the blockchain you need its native tokens to pay the gas fee. For the BNB Smart Chain, it is BNB tokens. See more about them in the next step.

🔰You may find it helpful

See a video about BNB Smart Chain on YouTube.

*Note: The wallet’s interface and setting process may change over time, but the steps and security measures stay the same.

BNB tokens

All chains have their native tokens. On the Ethereum Mainnet, they are Ether (ETH) tokens; on the BNB Smart Chain, they are BNB tokens; on the Polygon Mainnet, they are MATIC tokens, etc. You use them to pay the gas fees on the blockchain.

A gas fee is a commission that networks charge for processing your transactions. It is not the Stobox platform or any of Stobox’s clients. The network charges it. The gas fee is charged even if the transaction fails because it still does its best to process it.

The gas fee fluctuates and depends on network conditions and the price of the network’s native token. Incorrectly sent transactions can also increase the gas fee.

However, if the BNB token price increases, the gas fee will be higher and vice versa.

Note that gas fees are never refunded.

BNB tokens are native tokens of the BNB Smart Chain, so you need them to pay gas fees there.
You pay the gas fee each time you send tokens on the BNB Smart Chain or mint an SBID token.

If your MetaMask shows extremely high gas fees, e.g., $100.00, it pays attention to some issues that may result in a failed transaction.

So please read what your wallet says. It often saves you a gas fee, time, and nerve cells.

How do I get the BNB tokens?

There are a few options.

1. Transfer from crypto exchanges

Centralized crypto exchanges, aka CEX, like Binance, Gate.io, Huobi, etc., allow you to deposit your money (USD, EUR, GBP, etc.) and use it to buy any listed tokens. Then, you send those tokens to your wallet address, i.e., withdraw them from your exchange account to your wallet address.

Crypto exchanges usually require KYC to buy and withdraw crypto.

Decentralized exchanges, or DEXs, like Pancake Swap, Uniswap, etc., allow you to connect your wallet and swap one of your cryptos for another. They don’t work with fiat money, so if you don’t have other cryptos, look at CEX or check other options.

2. Buy from blockchain wallets

Some wallets, including MetaMask, have the Buy & Sell options with exchanger services onboard. You can use your credit or debit card to buy crypto.

Exchanger options differ from country to country.
Note that they have a minimum purchase limit, so you can’t buy anything less than that.

You can also use Binance Connect to purchase tokens.

Note that this option also asks for KYC as an option from the Binance exchange.

Where can I see my security tokens?

You can see your purchased security tokens in your DS Dashboard’s Security token balance on the left panel, in the My investments tab or in your wallet.

When you invest, your security tokens are sent to the wallet address you used during the identity verification process. If you forget it, check your email for notification about applying for identity verification. The wallet address you used is shown there.

Identity Documents

Securities are heavily regulated. You can’t anonymously invest in security tokens.

In general, during the process of identity verification, you must

provide your residence address and nationalityupload a good-quality photo of your identity document (a passport, an ID card, or a driver’s license)*
be ready for a liveness check. It means a selfie where you should move your head around, etc.
tick the points and select your source of funds

See the recommendations about the documents and liveness checks from our KYC/AML partner below.

For the identity documents, note that

It must not be a scan.
It must not be a photo of a printed copy.
It must not be a photo taken from your computer screen.
It must not be a screenshot.
The photo must not be edited. Take a photo of your actual document.
All corners of your document should be visible. Don’t take a photo of a part of the document.
Both sides of your ID card/driver’s license should be uploaded.
Take that photo in the light room BUT without a camera flashlight. If the identity document is flashed from the camera or is not focused, there is a high chance the KYC provider’s system will not read it.
Don’t try to upload some PDF or Word document file with an inserted photo.
Don’t send a photo of a document on some background that is larger than the document.

For the selfie, note that

You should be alone in your selfie.
No one should be around. Even someone’s hand on your shoulder can be considered a forced selfie and result in a rejection.
You should take a selfie in the light room.
You should take a selfie using your computer or laptop camera or using your phone.
You can’t make a video on your phone and show it to your computer’s or laptop’s camera.
During the KYC process, you should not be holding any phones, both smartphones and landlines.