How do I claim a payment from OLAGG?

At OLAGG, we carry out many activities where you can win a prize in Cryptocurrencies, such as:

• Winning a Tournament
• Writing an Article or Guide (if you have the role of Writer)
• Winning a Raffle
• Winning in a Minigame
• ... among others

When you win a prize in cryptocurrencies, you will receive a notification by email and in the notification bell on the site https://olagg.io to request the payment:

To be able to receive the payment, you must log in and navigate to https://olagg.io/mis-cobros with your OLAGG user and you will see the pending payment to request:

there you must Click on the button "Request Payment" and you will see the following confirmation screen:

There you must enter the Address of your crypto wallet where you want to receive the payment. If you do not have a crypto wallet yet, we explain in the next section how to get one.

Once you confirm your wallet, your payment will be processed by the OLAGG team.

OLAGG makes payments once a week, so you will receive another email when your payment has been delivered to your wallet.

I don't have a Crypto wallet, how do I get one?

You have several options:

• Create an account on a Crypto Exchange ("CEX") that is available in your country. In Latin America, Binance is an option that operates in most countries. Other options are:
  • Kraken
  • Bitso
  • Coinbase (operates only in the United States)
• Use a Custodial Crypto Wallet App provided by a local or regional financial services company, some available in Latin America are:
  • Lemon cash
  • Belo App
• Install a Self-Custodial "Web3" Wallet. These wallets are usually available as a mobile phone app or a Google Chrome browser extension, the most popular one is Metamask

Later on, we will explore the advantages and disadvantages of each option.

How do I get my wallet address?

1. Take note of the Network and Currency that OLAGG will provide you, you can see this under "Request Payment" at https://olagg.io/mis-cobros
2. Access your Crypto Wallet provider and look for the "Deposit" or "Receive" Crypto Tokens option.
3. Make sure to select the Network (also referred to as "Blockchain") and the Currency (also referred to as "Token") that matches the step 1.
4. Copy or note down the deposit address shown by your Wallet or provider, this should be a combination of 42 digits and letters (letters from A to F) with the prefix "0x". Example: 0x14e8e1b74370880d42caA9f41fc15990b9F4B56C
5. Finally, enter the deposit address on olagg.io

More detailed guides by Wallet or Exchange:

• How to receive crypto on Binance?
• How to receive Crypto on Bitso?
• How to receive crypto in Lemon Cash?
• How do I deposit crypto in Belo?
• How do I get my wallet address in Metamask?

Advantages and disadvantages

Crypto Exchange

Crypto Exchanges are global or regional companies that provide custody and convertibility services between different crypto assets. In that sense, they are very similar to a Bank, where your cryptocurrencies are "deposited" or "withdrawn" from an account that is held and guaranteed by a company established in a country. These companies apply anti-money laundering policies and different financial regulations, so creating an account often requires an identity verification process, where you will have to send a photo of your ID. The important thing you should verify BEFORE creating an account on a Crypto Exchange is the following:

1. That it provides service in your Country
2. That it allows the withdrawal and deposit of the legal tender currency ("fiat") in your country through bank transfers to local banks or through International Transfers (SWIFT).
3. Minimum and maximum limits to withdraw your money.

It is important to consider that many of these Crypto Exchanges do not have legal personality in Latin American countries, and although they offer services to users in many Latin American countries, it is possible that withdrawing your money may require an international transfer (SWIFT) to reach your local bank, and that type of transfer has high transaction costs and can take several days.

For this same reason, they impose minimum withdrawal amounts that are usually high ($15 USD or more)

Crypto Wallet App

Recently, companies have started to appear in Latin America that launch crypto wallets for mobile phones, focused on making transfers and payments using cryptocurrencies and legal tender money easier. Most are apps for Android and iOS that you can download to your mobile phone. Unlike a Crypto exchange, these wallets usually have ways to deposit or withdraw your money to local banks more quickly and at a lower cost. Some of them offer a virtual debit or credit card that you can use at any store that accepts debit/credit cards, but instead of paying with your bank, you pay with the crypto funds you have deposited in the app.

Self-custodied Web3 Wallet

This is the only option that only requires downloading an app (Android and iOS) or a Google Chrome browser extension (for PC or Mac), and is not custodied by any company. The most popular Web3 wallet is Metamask, but there are many others.

These allow you to create a crypto wallet without the need to provide your personal information or verify your identity, which is why they are called "self-custodied", as you are the only one who has access to your wallet by using a "Secret key" (also known as "Seed phrase") that you define during installation. The disadvantage is that you need to safeguard and remember this "Secret key", as it is the only way to transfer or spend the cryptocurrencies you receive in your wallet. Another disadvantage is that these wallets do not offer any way to exchange your cryptocurrencies for legal tender money ("fiat") and therefore, withdraw it to a bank account, for that, the only alternatives are the 2 previous ones. Despite that, there are more and more options to spend your cryptocurrencies by buying products and services at e-commerce sites that accept cryptocurrencies as a form of payment, for example:

• Bitrefill
• Mercado Pago