0:01
In this video today, I am going to talk a little bit about persistence and the coin type 7 for 50 or 108. We need to convert our older coins to the newer coin type.
0:16
And I'm going to go through how you might be able to do that.
0:20
The there have been quite a few people that have asked in the live stream and e-mailed in.
0:24
And hopefully you are all on a ledger hardware wallet because that's the part that I'm going to cover today. And man, I have to say, Jay is hitting the mark of the park lately. He has just been coming up with some great videos.
0:38
I am really excited about where crypto is heading, potentially, and this crypto winter may be over, and spring has arrived. So let's get back to persistence. This is the wallet. As you'll remember, in my last video, I ... my persistence, had to wait, I think it was 28 days, 21 day, something like that. And I couldn't do anything until they were on delegated.
1:07
Well, now they're un delegated, but the question is, what Coyne type do I have?
1:12
Well, I can't see the coin type because right now, well, I'll show you.
1:18
So you can click this little link up here and it'll tell you know, Coyne type migration from 750, 211 8.
1:27
Great, and let's scroll down a little bit.
1:31
It tells you a little bit history, why they're doing it, but this is the little button that you want to look for, migrate your wallet address. So we click on that and it comes to coin type migration from 750 to 108.
1:45
This is where you need to select how you have your coins, staked, or in what wallet.
1:54
So right now, if you have Persistence Wallet, Queen Type 1.8 or 750, yes, they're both supported leger, hardware wallet.
2:05
Yes, They're supported, but that's not the whole story.
2:09
So if you look at the persistence wallet, yes 1 1 8, 750, but it's not just the persistence wallet, you're using the persistence wallet, But you're really securing it with a ledger, so we have to look at leger. So let's click on that.
2:24
Well, right here, tells it all.
2:27
If you are on a Kepler plus a ledger, the 1 1 8 type coin, which is where we need to have the coins migrated to, is supported.
2:38
If you're using the persistence, app, plus ledger, right now, it's not supported.
2:45
So There's the issue We haven't been able to see what kinda coyne type when we login with our leger Because 1 1 8 is not supported in 108 is probably not known to the ledger app So, it says it's currently under development. Please circle back later. Fill out the form and receive timely updates once integration is complete. So right now, I'm I Don't know.
3:12
I'm probably going to go back and delegate my coins, and then I'll fill out this little form, which I haven't seen yet.
3:19
And And and then let you know when the ledger is ready to handle R 1, 1 8, coyne type four, the persistence Um, that's all the update that I have.
3:35
But if you are not on a ledger, then, what you can do up Sorry, we're going to go back that you can look at the different wallet types. And you can see if you can do the migration Kepler. You're like, Well, George, why don't you use the coupler wallet? Well, I kind of investigated that a little bit.
3:53
And you have to download a wallet, and there's a lot of hoops to jump through that I didn't necessarily want to do to keep it on the ledger.
4:05
I'm OK with waiting.
4:06
I know what the rules are now, with, you know, that the persistence wallet, easy in a ledger.
4:12
Well, bottom line is, I can't do it because it's not supported, and when it is supported, then I'll move forward, I'll un delegate and then convert them over.
4:23
So, that's it for now.
4:25
Hope you guys have a great day.
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Executive Summary:
In this video, George, provides an insightful update on the process of migrating Persistence (XPRT) coins from the older 750 coin type to the newer 118 type. The update is especially relevant for users who have their coins stored in a ledger hardware wallet.
The video begins with George expressing his enthusiasm about the current trends in the cryptocurrency market, hinting at the end of a crypto winter and the arrival of a more optimistic period. He then swiftly moves to the core topic of the update: the migration of Persistence coins. He highlights the need for users to switch from the older coin type to the newer one, stressing its importance in the current crypto environment.
George provides a step-by-step guide on how to determine the type of Persistence coins a user possesses. He demonstrates this by navigating through the user interface, showing where to find the necessary information, and guiding viewers through the process. This part of the video is particularly helpful for users who are unsure about the specific type of Persistence coins they have.
Furthermore, George discusses the compatibility of different coin types with the ledger hardware wallet. He notes that while the Persistence Wallet supports both 750 and 118 coin types, there are limitations when it comes to the integration of these coins with the ledger. Specifically, he points out that the 118 type coin is currently not supported when used in conjunction with the Persistence app plus ledger, though it is supported in other configurations.
George concludes his presentation by addressing users who are not using a ledger hardware wallet, suggesting alternative methods for migration. He briefly touches upon the Kepler wallet but acknowledges the complexities involved in using it. Ultimately, he advises patience and compliance with the current rules until full support is available for the 118 coin type on the ledger.
Key Points:
1. Topic Introduction: George discusses the migration from Persistence XPRT 750 to 118 coin type.
2. Target Audience: Users with coins in a ledger hardware wallet.
3. Market Optimism: George expresses positivity about the future of cryptocurrencies.
4. Migration Need: Emphasis on the need to convert older coins to the new coin type.
5. User Guidance: Step-by-step demonstration on identifying coin types.
6. Ledger Compatibility: Discussion on the compatibility of coin types with ledger hardware wallets.
7. Limitations Highlighted: 118 coin type not supported with the Persistence app plus ledger.
8. Alternative Wallets: Mention of Kepler wallet as an alternative.
9. Patience Advised: Suggestion to wait for full ledger support for 118 coin type.
10. Conclusive Advice: Encouragement to stay informed and prepared for future updates.
Thank you George! If I am reading the webpage https://docs.persistence.one/coin-type-migration-from-750-to-118/persistence-wallet correctly under Step 3, I am under the assumption that we might be able to migrate our staked coins without having to unstake first and wait the 28ish days. Time will tell once the Ledger stored coin version page is updated, but fingers crossed it acts the same and works out well for us 🙂
Thank you George! I was literally looking for this video just a couple hours ago. FYI, my Persistence wallet greeted me today with a requirement to accept new Terms and Conditions and to verify that I was not in an Excluded Country (which US is now, sadly). I’ll be using Keplr wallet from now on…which *seems* to have my coins in 118 format?? That part still has me quite confused. If you are able to tell us what the address format differences are between 118 and 750, that would be super helpful. I’ve not found any clear information on how to tell if I’ve been migrated to 118!