USING BITCOIN FOR FUNDING SAIRUI IN EUROPE OR AMERICA (REGISTERING A NEW PROSPECT)

USING BITCOIN FOR FUNDING SAIRUI IN EUROPE OR AMERICA (REGISTERING A NEW PROSPECT)

• March 8, 2020
• by Pascal Nkenglack

In its objectives for this year, the Sairui management team has a big focus on the diaspora and on this regard, Sairui Canada is slowly but steadily growing and registering new members. The new members are now feeling comfortable enough to register new members themselves which is how the team is going to grow and reach the summits. It is one thing to find a prospect that one convinces to join the fun but when it comes to registering the prospect, it takes a really good knowledge of the Sairui platform to successfully complete the operation.  But just like anything else,  practice makes masters.

REGISTERING SOMEWHERE WITH A BIGGER SAIRUI COMMUNITY VS A NEW COMMUNITY

It is important to understand this difference! In a well established Sairui community,  people in the community have Sairui Points that they are trying to exchange for money; they will then transfer those Sairui Points to anyone in need. This will take away the burden of having to figure out a way to get your money into the Sairui account. In younger and less populated Sairui communities, leaders have not built up enough cash to sell to eventual prospects through a peer to peer transfer, so they have to know the proper way of funding a Sairui account.

Another limit that younger or smaller Sairui communities face is the different options available to them for funding their account.  In well-established communities, for instance,  the community develops a new and easier way through partnerships with local banks and financial institutions. Such options don’t usually exist in New or remote communities.

This being said,  only one option remains for remote communities or communities in the diaspora and this is the bitcoin option.

WHAT IS BITCOIN FOR SAIRUI

I am not planning to go over a full presentation of bitcoin, that would take a whole post on its own. All you need to know is that the bitcoin also known as cryptocurrency is a new digital currency developed very recently and used throughout the world except by banks. The most used cryptocurrency in the world and on the Sairui platform ist called BTC and Although cryptocurrencies are very volatile for the moment, meaning that their value fluctuates a lot and sporadically, one BTC currently exchanges for around $9,800US. The BTC is not the only cryptocurrency currently exchanged, a few other popular ones are known as Etherum(ETH), Litecoin(LTC) or Dogecoin(XDG). The websites www.preev.com or even www.xe.com or their smartphone app equivalent can help in finding out the most current value of your cryptocurrency. At the time I am writing this article, one BTC is exchanging for $8,320US. Which would be a great deal for someone exchanging at the moment. Another cryptocurrency being under development in partnership with Sairui is called CocoX which eventually will be added to the list of payment options offered for funding a Sairui account. I hope this brief description shud some light on the bitcoin payment option. It is very important that each leader registering new prospect understands this very well because the bitcoin is also the gateway for your funds out of the Sairui platform.

BITCOIN WALLETS

 

 

 

 

 

 

 

 

 

 

Whenever I mention bitcoin to new prospects, they look at me like I am speaking Aramaic; at least for most of them because bitcoin is totally new to them. This is understandable because it is only in the last few years that bitcoin has gone mainstream and many people are still not very confident using it. However, bitcoin is just as safe as your banknotes.

Leaders in well-established Sairui communities already have their ways of getting bitcoin if they want to use them. This post is really for newly established communities, mostly in Europe and America that want to understand the process of funding a Sairui account using bitcoin.

In order to start dealing with bitcoin, you start by getting a bitcoin wallet. Bitcoin wallet can be either hardware or software; depending on the security you want you could use a hardware wallet such as the Ledger series that looks like a USB key. For our application, we do not intend nor do we recommend keeping a big amount of money in your bitcoin wallet; for this reason, a software wallet is fully sufficient for the operation. Whether you use an Android smartphone or an Apple one, bitcoin wallet applications are available on either and can be easily downloaded; you can follow this link to download the android version of the Bitcoin wallet application: https://play.google.com/store/apps/details?id=com.bitcoin.mwallet&hl=en. You can click the following link on HOW TO GET STARTED WITH BITCOIN for more detailed information.

Once you have a bitcoin wallet, they each come with a unique address made up of an alphanumeric chain of characters in upper and lower case. To send bitcoin, you need to know the destination wallet address. If you are the one receiving bitcoin, then you need to send your address to the sender. Once the bitcoin is transferred, a unique transaction ID is generated known as “Hash”. and stored on your wallet for traceability.

BITCOIN EXCHANGE FROM LOCAL CURRENCY

If you never dealt with bitcoin before, your only way of getting bitcoin is by exchanging your local currency into bitcoin. where do you do that? Surely not at your local bank!! With bitcoin going mainstream, more and more local exchange services are popping out everywhere and even online services such as localcoin.ca and ATMs are available for those who want to use them. Of course, this comes with a cost and the highest exchange costs are online and at the ATM where they charge up to 25%; so avoid these two options if possible.

My suggestion is to go to brick and mortar bitcoin stores. These physical stores mostly only accept cash or charge higher fees if you pay with credit or debit cards. The fees when you pay with cash vary depending on the amount exchanged. For instance, a popular Toronto bitcoin exchange service known as Coin Nerds has the following fees on their website:

$50-$500: 9%

$$501-$1,000: 7%

$1,001-$5,000: 6%

$5,001-10,000: 5%

$10,001-$20,000: 4%

$20,000+: 1%

I’ve personally used their services several times and have recommended it to people joining Sairui. This is for people in the Toronto area in Canada. If you leave in the USA or somewhere in Europe, I am pretty sure if you sear on Google, Bing or Yahoo, you will find local stores where you can exchange your local currency into bitcoins or other cryptocurrencies of your choice.

Once you get to the store, the well-established ones will actually give you a crash course on cryptocurrencies before exchanging your money and transferring into your bitcoin wallet. It does not normally take very long before you can actually see the bitcoins in your wallet. And you also have the option to track your transaction online as explained below. It is strongly recommended to load a bit more than needed(for instance $50US above the required amount) because of transaction fees(which are very minimal but not zero) and bitcoin fluctuation.

BITCOIN EXCHANGE FROM LOCAL CURRENCY ONLINE

Nowadays people like to stay at home and rely on the internet to get most things done. Shopping, entertainment, ordering food, etc. Exchanging your local currency into bitcoin is also one of those activities that can be done from the comfort of your home. This involves opening an account with a third-party merchant that offers exchange services from local currency into other currencies.

We’ve tried a few and those that we can recommend are : Shakepay and Kraken. They offer funds deposit into their account through online banking or in-person payment at any merchant accepting that option. Sign-up and see what options are available for your country of residence and if you have or find any better option, feel free to share it with us.

TRACKING YOUR BITCOIN TRANSACTION

Every single bitcoin transaction worldwide is trackable on the blockchain explorer. Once your transaction is over, you can copy the hash, head to the blockchain explorer and paste the Hash in the search field to track confirmation of the transaction.

Once you find your transaction with the mention “Confirmed”, it means the bitcoin transferred is already deposited.

 

TRANSFERRING BITCOIN TO SAIRUI BITCOIN WALLET TO FUND YOUR ACCOUNT

Now that the bitcoins are sitting in your bitcoin wallet, you can transfer them to the Sairui BTC wallet. Before being able to transfer the bitcoins to Sairui, you should have already set up your user account with your bitcoin wallet information. If you have not done it yet, then you should follow the steps below:

RECORDING YOUR BANK ACCOUNT’S INFORMATION

 

 

 

Many when creating their account tend to overlook this step but are forced to go back when comes time to get money out of the Sairui Mall platform. It is not a major issue as all you need to do is to go back and complete the steps of recording your banking/bitcoin information. The picture on the left illustrates what to click and the picture below will explain how this is done:

 

 

 

 

1. In this field “1”, you have to enter your banking information. Because Sairui main target is Africa, you will find mostly African banks and African means of transferring money between people. So, represented in the list are Ghana, Nigeria, Ivory Coast, Cameroon, etc. However, you also find in the list, a few Swedish banks; so for those living in Sweden, they can easily get their money transferred to Sweden if they do bank with any of the Swedish bank listed. The picture on the right gives an overview of the banks and means of transfer listed.
2. In the field “2”. you enter your bank account number
3. In the field “3” you enter the name of the bank from which you plan to make your deposit if you intend to make your deposit through bank wire
4. In the field “4” you enter your BTC bitcoin wallet address
5. In the field “5” you enter the bank account holder’s name

Also ensure all your other details are accurate then click the red “CONFIRM” button at the bottom to save all changes.

Once this is completed, your wallet address window will look like the picture below:

with this step completed, your now all set to fund or withdraw funds from your Sairui account. If you want to exclusively use bitcoin, then only enter your bitcoin wallet address and not other banking information. This will make bitcoin your default funding and withdrawal method.

FUNDING YOUR ACCOUNT WITH BITCOIN

Just having an account does not mean you can trade on Sairui New Retail. You will need to become a VIP (level 2 or higher) before you can be allowed to trade. Becoming a VIP requires funds for the VIP registration and you need somehow to get that money into your account. The preferred way chosen by most Sairui VIP partners for funding their account is through BTC bitcoin. Handling bitcoin is a whole different topic that involves downloading a bitcoin wallet and exchanging your cash into bitcoin, which is the purpose of this post.

1- Start by clicking on “Recharge” as illustrated below

2- Click on the red box “Recharge”

3- Fill Out the form. As you can see on the dropdown menu, there is plenty of option however, the fastest and preferred way for Sairui VIP members is the BTC bictcoin then hit “Recharge” at the bottom of the form

Follow the steps below to fill out the funding form:

1. Select the name of the bank you would like to make the registration payment to. (Select ‘BTC’ as shown in the screenshot above; Bitcoin is Recommended).
2. Copy the company’s bitcoin address for payment.
3. Go back to your bitcoin wallet and paste Sairui (The company) BTC wallet address in the recipient address as you are sending them the bitcoin
4. Once you have completed the process, you will need to take a screenshot of the completed transaction screen and copy the last six digits of the Hash number
5. Go back to the recharging screen on your phone or on the computer
6. Enter Sairui points quantity you will need for activation and capital for trading, (you can deposit the total amount). Take note that the registration packages are not the same!
7. Select BTC to see the exchange rate or the exact amount you need to pay for activation.
8. Skip amount payable.
9. Even though the screen asks for the last 6 digits of your BTC wallet address, the last 6 digits you should enter here are from the so-called “Hash”. The Hash is a transaction ID generated after a bitcoin transfer between two parties. It is a long string of alphanumerical characters looking similar to the wallet address. The Hash should be available in your BTC wallet.
10. Select Sairui Points for Recharge Type (change Consumption Points in the dropdown box to Sairui Points and deposit the total amount you will need for both activation and trading capital).
11. Upload a screenshot of payment as proof of payment.
12. Click on Recharge.

Now your account is funded with Sairui Points. But for VIP registration you need Consumption Points; so we need to convert some Sairui Points into Consumption Points.

Follow the steps below to find Sairui’s bitcoin/BTC wallet address: