Share this article! Here's a short link you can use: http://im.vu/help936
What is VCOIN?
VCOIN is IMVU's newest digital currency. Built on blockchain technology, VCOIN can be purchased, earned, and exchanged within the IMVU platform -- most importantly, it can be transferred off the platform and converted to real cash!
What is a cryptocurrency?
A cryptocurrency is a digital asset (and is digital money) that holds real value and can be securely stored, sent, and received through peer-to-peer transactions globally. Through an exchange, like Uphold, it can be converted into cash for real value.
How does VCOIN work on IMVU?
IMVU is creating an economy where users can easily earn real value from the tokens they play with. Unlike Credits, users can convert VCOIN into real money without being in the Earn Money program. On IMVU, users can earn and send each other VCOIN for all kind of digital services such as badge creations, edits, streaming services, or solely as a gift.
VCOIN is not bound to a single platform. While it originates from the IMVU economy, users can also transfer it outside of IMVU and convert it into cash.
Will the price of VCOIN fluctuate?
IMVU will maintain a consistent purchase and buyback price which should lead to little fluctuation of VCOIN.
At launch, 250 VCOIN will be equivalent to one dollar (USD) or $0.004 a token.
Can VCOIN be purchased now?
Anyone wishing to purchase and gift VCOIN can do so on ALL IMVU platforms including IMVU Desktop, IMVU Website, and IMVU Mobile.
IMVU Desktop and IMVU Website
IMVU Mobile (Android and iOS)
Yes, VCOIN is broadly available in the US and in more than 150 countries. And, while at launch, users in a few select states and countries will be unable to buy VCOIN or transfer it out of IMVU, our team is working to quickly expand its availability. However, all users can still send and receive VCOIN from other users while on the IMVU platform.
VCOIN can be purchased on IMVU Desktop, IMVU Website and IMVU Mobile. Click here to learn how.
VCOIN withdrawal/purchase restrictions by country and state
Countries: AI, AL, AM, AO, AQ, AS, AW, AZ, BA, BB, BD, BF, BI, BJ, BV, BY, CD, CF, CG, CI, CM, CN, CO, CU, DE, DO, DZ, EC, EG, ER, ET, FJ, GE, GH, GI, GN, GQ, GW, HM, HT, ID, IN, IQ, IR, JM, JO, KE, KH, KP, KZ, LB, LK, LR, LY, MA, MD, ME, MK, ML, MM, MN, MU, NG, NI, NL, NP, PA, PK, PW, RS, RU, SD, SO, SY, TD, TF, TG, TM, TN, TR, TT, TZ, UA, UG, UM, UZ, VE, VN, VU, WS, YE, ZW
US States: No US State restrictions at this time.
The current list of countries and US states that cannot currently withdraw VCOIN is as follows (NOTE: this list will continuously be updated as regulations change):
Countries: AI, AM, AQ, AZ, BB, BV, CF, CU, ER, FJ, GN, HM, IR, KH, KP, LB, LR, ML, MU, PW, SD, SY, TD, TF, UM, VU, WS
US States: NY.
The current list of countries that cannot create an Uphold account is as follows (NOTE: this list will continuously be updated as regulations change):
Countries: AL, DZ, AS, AO, AW, AZ, BD, BY, BJ, BA, BF, BI, CM, CN, CO, CD, CG, CI, DO, EC, EG, GQ, ET, GE, DE, GH, GI, GW, HT, IN, ID, IQ, JM, JO, KZ, KE, LY, MD, MN, ME, MA, MM, NP, NL, NI, NG, KP, MK, PK, PA, RU, RS, SO, LK, TZ, TG, TT, TN, TR, TM, UG, UA, UZ, VE, VN, YE, ZW
US States: VI
NOTE: If you already have an existing Uphold account, then you can still withdraw. This new restriction only applies to new account sign-ups on Uphold.
Why is VCOIN not available in my country/state? When will it be available?
Although VCOIN is available in many locations, we understand that there are restrictions on where VCOIN can be purchased or withdrawn in various countries and US states. While our team is actively working on expanding our list quickly, VCOIN availability is dependent not just on us but on cryptocurrency regulation within these restricted locations. Rest assured, despite this, we will continue to push availability and update the community as soon as there is a change. Thanks for being patient!
What is the exchange rate for VCOIN?
$1.00 = 250 VCOIN
How secure is VCOIN?
VCOIN is an ERC-20 token on the ethereum blockchain. Ethereum is the world's most widely used and secure blockchain network.
IMVU also has security measures put into place for your account to ensure your safety. With Two-Factor Authentication (2FA) and Uphold Account verification, VCOIN is stored securely in your VCOIN Wallet.
What is unique about VCOIN?
To date, there are no other cryptocurrencies that offer the simplicity and value that VCOIN brings, and this new technology is available FIRST on IMVU, launching in the massive IMVU economy. We believe it can change the very nature of digital and virtual economies through enabling more users to earn on IMVU and beyond.
VCOIN is unique in that it is a cryptocurrency that does not require a complicated cryptowallet. It is built into IMVU and can be easily purchased with a credit card, and immediately used on the platform.
Users can also transfer VCOIN out of IMVU with a few clicks - opening up the endless possibilities of cash, exchanging with other cryptocurrencies, and use in other platforms.
On what platforms can VCOIN be used?
At launch, IMVU will be the first platform where users can transact with VCOIN. Users will be able to purchase, gift, and withdraw VCOIN on IMVU Desktop, IMVU Website and IMVU Mobile. You can also gift and withdraw VCOIN, as well as access your transaction history through IMVU Mobile (Android and iOS). This allows our users FIRST access to the new offering.
VCOIN, however, can also be taken off-platform and traded with other cryptoholders or used to pay for services outside of IMVU, through Uphold. We expect VCOIN to be used and accepted within many games and virtual communities in the future.
Will VCOIN expire if I don't cash it out?
No. VCOIN, like real money, will not expire!
Can all users buy, send, and receive VCOIN?
All users are able to purchase, send, and receive VCOIN. To withdraw VCOIN, users must be 18 or older and have an Uphold Account.
My state or country does not allow me to buy/withdraw VCOIN. If someone gifts me VCOIN, can I use that to buy and resell IMVU NFT Exclusives?
Yes. You are only restricted to buying or withdrawing VCOIN, but if it’s gifted to you, you can use it to buy NFT Exclusives. You will also have the option to resell that NFT Exclusive.
Note: If you resell an NFT Exclusive, the VCOIN you will receive from that sale cannot be withdrawn through Uphold. See the complete list of states and countries restricted in purchasing and withdrawing VCOIN in the section "VCOIN withdrawal/purchase restrictions by country and state".
Learn more about VCOIN! |
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article