At OLAGG, we carry out many activities where you can win a prize in Cryptocurrencies, such as:
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.
You have several options:
Later on, we will explore the advantages and disadvantages of each option.
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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 In that sense, they are very similar to a Bank, where your cryptocurrencies are "deposited" or "withdrawn" from an account that is held and guaranteed by a company established in a country.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:
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)
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.
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:
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