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HOW TO BUY YAFA
CONTRACT ADDRESS: YAFAJvjUv9MVAKcTE7Y8ouo45QNKVK6fCMzdxt2tjPs
PLEASE BE CAREFUL AND PAY ATTENTION TO THE SECTIONS BELOW ABOUT:
- CHOOSING THE CORRECT YAFA TOKEN
- SECURING YOUR WALLET AND ASSETS
- THE DISCLAIMER AT THE BOTTOM OF THE PAGE
If you are new to cryptocurrency and are wondering where to start, then please read on. If you are an advanced user then you may skip to ‘Advanced Users’ Section below:
BEGINNERS:
Introduction to YAFA & blockchain:
BEGINNERS: YAFA is a digital token that is built on top of the Solana blockchain. If you are unfamiliar with the term blockchain there is a wealth of educational material on the internet to discover and learn. We highly recommend educating yourself about digital assets and blockchain technology. This is the future of online transactions where Web2 will migrate to Web3. Online systems and processes will become decentralized and automated, removing the need for intermediaries, reducing fees, adding privacy and allowing for self-custody of assets.
In order to buy YAFA, you will first need to purchase the native currency of the Solana Blockchain which is called SOL and then swap it for YAFA tokens.
The symbol for Solana is SOL
The symbol for the YAFA token is YAFA
Once you have purchased SOL you can then proceed to swap your SOL for YAFA tokens and store them in your digital wallet.
In due time, and as the ecosystem and network effect develops, YAFA will be listed on exchanges. At that point, you will be able to buy the token directly on the exchange instead of having to buy SOL from an exchange, send the SOL to your self-custody wallet (e.g. Phantom wallet) and then swap it through a decentralized exchange within your wallet
How to buy SOL:
Option 1: Buy Sol through a centralized crypto exchange
Option 2: Buy SOL through the Phantom Wallet
You will need the Phantom wallet to store your YAFA anyway so please download it whether you are buying SOL directly through the wallet or through an exchange.
Important notes before choosing a method to buy SOL:
Please note that buying through an exchange will achieve more competitive rates than using a credit card through the Phantom wallet app, therefore earning you more SOL, which means more YAFA after the swap.
The difference in rates is approximately 3-8% depending on the payment processor you choose on the app.
Since you are now entering the world of digital currencies, we recommend setting up an exchange account anyway!
Please note the Phantom app does not require verification to open an account and set up a digital wallet. However, when you proceed to purchase SOL using a card, you will be required to enter your details, as with anything you purchase online.
Setting up an account with a crypto exchange will require verification before you can proceed to purchase any digital assets. This will be in the form of a selfie, uploading a government issued ID etc.
There will also be a questionnaire to answer so the exchange can determine which type of client you are (retail, professional, institutional etc). We recommend starting on the base level. You can always upgrade your investor status afterwards. Exchanges are regulated entities and will require all of your KYC info (Know Your Customer) to be satisfied before you can trade through them.
Please note depending on which country/jurisdiction you are in there may be restrictions on which banks/card providers allow card payments or wire transfers to crypto exchanges and crypto apps. If you have any problems, you can always reach out to the exchange for support.
Buying SOL through the Phantom app.
- Download the Phantom wallet from the app store.
- The download link can be found on the website https://phantom.app
- The app is currently available for both IOS and Android phones.
- PLEASE READ THE SECTION AT THE BOTTOM ABOUT SECURING YOUR ASSETS BEFORE YOU OPEN THE PHANTOM WALLET FOR THE FIRST TIME.
.- Once you have downloaded the app and written down your recovery phrase you will need to create/add an account. You can name the account anything you like e.g. ‘Mary’s Crypto’
-*Important Point* -We recommend writing down your recovery phrase on a sheet of paper in pen. Also having duplicates in different places is encouraged.
DO NOT SCREENSHOT YOUR RECOVERY PHASE AND STORE IT ON YOUR PHONE.
- Once the account is created you can then proceed to buy SOL using a debit/credit card.
- Simply press the BUY button o Choose Solana
- Enter the amount of SOL you wish to buy and then the app will automatically display the USD value for the number of SOL you inputted so you are aware of how much money you are spending.
- Proceed with the process where you will be taken to a third party payment processor to take the payment from your card.
- Once the payment is completed, click on the home button at the bottom left of the app and you will see the SOL balance in your wallet.
Buying SOL through a crypto exchange
-Open an account with a reputable crypto exchange that is supported in your country.
- We recommend using mainstream exchanges such as Binance, Coinbase, OKX, Bybit, Kucoin etc .
- Once you have registered with the exchange, you will need to go through a verification called KYC as stated above.
.- Once your account is open and you have been verified you can proceed to purchasing SOL.
- The exchanges will have tutorials on how to buy but they make it very simple. Normally it's just a matter of choosing the crypto you wish to buy and clicking BUY then following the process.
- If you are buying with a card then you will be taken through that process. If you are wiring Fiat currency (eg. USD, EUR, GBP etc) then you will need to wire the money before being able to purchase any cryptos
.- Wiring money will be the most cost efficient way of purchasing as the subsequent exchange fees are less than paying by card.
Sending SOL to your Phantom wallet
- If you have bought SOL on an exchange then you will need to send that SOL to your Phantom wallet before you can swap it for YAFA
- To do this you will need the alphanumeric wallet address of Solana from your Phantom wallet.
- You can easily retrieve this by clicking on Solana in your account and clicking RECEIVE
- A QR code as well as the receiving wallet address will be shown
- There is a button to copy the wallet address so copy it and input it on your exchange account to tell the exchange which address to send your SOL to.
- Exchanges use different blockchains to send tokens through. When populating the details for the transaction to be sent from the exchange to the Phantom wallets, you will need to select to send through the Solana network.
IMPORTANT– First do a small test transfer ($5 worth of SOL for example) to make sure it arrives in your Phantom wallet!
Then repeat the process to send the balance of SOL to Phantom.
Make sure you double check you are sending to the correct address. If you send funds to the wrong address your funds will be lost.
The transfer should be completed within 1 min depending on your exchange.
Swapping SOL for YAFA:
- Once you have SOL in your phantom wallet account, click on SWAP
- Enter the amount of SOL you wish to swap for YAFA
- You will then be taken to another screen where you will choose which token you want to swap SOL for
- Click on the preloaded token and search for YAFA
*- IMPORTANT– There may be other tokens called YAFA which are imitating the official token so make sure to choose the correct one. Even if they have the correct logo they may be a scam.*
o The way to make sure you have chosen the correct YAFA is by checking the alphanumeric address.
o To do this, click on the 'i' for information next to Yafa to see the address.
o Scroll down to the info section
o There will be a label called MINT and if you have chosen the correct YAFA token you should see an abbreviated address to the right of that MINT label called YAFA…tjPs. This is an abbreviation as the address is a long alphanumeric string.
o You can also copy this abbreviated address and verify it against the correct address which is YAFAJvjUv9MVAKcTE7Y8ouo45QNKVK6fCMzdxt2tjPs
o Once you have the correct YAFA token you are now ready to proceed to the swap process.
- Please make sure you are swapping SOL for YAFA and not YAFA for SOL otherwise the swap will fail.
- Input the amount of SOL you wish to swap for YAFA and proceed.
IMPORTANT: Please note: You cannot exchange 100% of your SOL to YAFA because there is a small fee to pay for the transaction. The fee is charged in SOL
For example:
o If you have bought 10 SOL and want to change all 10 SOL to YAFA then we would recommend changing 9.98 SOL as a small amount of SOL will be required for the exchange fees.
o The app will also alert you to this by way of Error/Failed message in case you forget.
o As a rule of thumb, the fee will be approximately $3 (at today’s rate) so you can calculate how much SOL you will need for the fees by dividing $3 by the current SOL price (https://coinmarketcap.com/currencies/solana/ ) E.G…. $3 / $153 = 0.019 (how much SOL you will need to deduct from your 10 SOL before making the swap)
o The fees should never exceed $5 as Solana is an efficient network with low fees o The fees are also the same whether you are swapping 1 SOL or 100 SOL (one of the beauties of blockchain )
- Once the amounts are inputted click REVIEW ORDER. Here you will see a confirmation of the transaction, including fees charged etc.
- Proceed to swap. The transaction is almost instant
- Then return to the HOME page and you will see your YAFA in the list of tokens (as well as the small balance of SOL left.
ADVANCED USERS
Advanced users should be familiar with:
- Purchasing
- Swapping
- Transaction fees
- Etc
- If not then please read the beginners section above.
- Advanced users can also use different wallets that support Solana including other chains or cross chain wallets.
- We only recommend Phantom wallet as it's easy to use for beginners but there are many options out there.
- Purchasing YAFA should be very straightforward for advanced users.
SECURING YOUR ASSETS :
-Crypto scams are rife on the internet with hackers, phishing emails, viruses etc. It is very important to secure your wallet!
- When downloading the Phantom wallet for the first time you will be given a 12 word recovery phrase. This phrase is required in case you lose your phone, delete the app by accident etc.
- Do not worry, if you have the recovery phrase you can always restore your wallet and regain access to your assets.
- PLEASE ADD EXTRA SECURITY TO YOUR PHANTOM WALLET USING PASSCODES / FACE ID ETC IN CASE YOUR PHONE IS STOLEN SO THE APP CANNOT BE OPENED. FOR GOOD PRACTICE, RECOVER YOUR WALLET FROM YOUR NEW PHONE, CREATE A NEW ACCOUNT AND MOVE YOUR ASSETS THERE.
- REMEMBER- your tokens are not stored in your Phantom wallet, they are stored on a wallet on the blockchain. Your Phantom app only holds the private keys for accessing your wallet on the blockchain.
IMPORTANT:
DO NOT STORE YOUR RECOVERY PHRASE IN DIGITAL FORMAT / EMAIL IT TO ANYONE / SAVE IT ON YOUR PHONE / SCREENSHOT IT TO YOUR PHOTOS ETC!
- WRITE IT DOWN ON A PIECE OF PAPER AND STORE IT SOMEWHERE SAFE. MAKE 2 COPIES AND STORE THEM IN DIFFERENT PLACES IN CASE YOU LOSE ONE OF THEM IN CASE OF FIRE ETC.
- PLEASE MAKE SURE YOU WRITE THE RECOVERY PHRASE IN THE CORRECT ORDER TOO!
- IF YOU LOSE YOUR RECOVERY PHRASE YOU WILL NOT BE ABLE TO RESTORE YOUR WALLET.
- ALSO - IF YOU SEND DIGITAL ASSETS TO ANYONE THERE IS NO WAY OF RECOVERING THEM! BE AWARE OF SCAMS!
- IF YOU ARE SECURING LARGE AMOUNTS OF CRYPTOS THEN WE ALSO RECOMMEND USING A HARDWARE WALLET SUCH AS A LEDGER WALLET (HTTPS://WWW.LEDGER.COM). HARDWARE WALLETS ADD AN EXTRA LEVEL OF SECURITY BY STORING YOUR PRIVATE KEYS ON THE HARDWARE DEVICE (WHICH IS PASSCODE LOCKED) AND ENCRYPTED WHEN COMMUNICATING WITH YOUR PHONE/COMPUTER.
Welcome to the YAFA community, we are humbled to have you here on this journey to freedom !
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