Once completed, you can exchange your igot BTC balance to IGX Tokens.
- Click Request to convert to IGX next to your igot BTC balance.
- We will send you a confirmation email after your request is received.
Bitlio will review your account to determine the number of IGX Tokens you will be issued. You will see this information on your dashboard within 7 business days.
How does Bitlio determine the exchange rate for BTC to IGX?
The price per bitcoin is determined by the date of purchase, or deposit, or on the average price of trades executed on igot. If you had multiple trades, or future trades transactions, the price per bitcoin will be the average of all your buy and sell trades. If you deposited bitcoin to your igot wallet, the conversion rate is determined by the date the deposit was received on igot. Historic bitcoin prices are be pulled from CoinDesk.
Am I going to receive today's value for BTC when I convert to IGX?
The IGX Token is pegged at $1.00 USD. The price per BTC in IGX is determined by the method listed above. In the event bitcoin rolled over and entered a bear market, the desire of users desiring the BTC holdings back would have occurred in reverse order, demanding the USD value at the point prior to the down trend. We cannot chase the value of a volatile asset in such a situation. The outcome of price "greater than current value" or price "lesser than the value on the day you transacted" is 50/50 probable. As a result, we are offering a fair valuation from the date of such transaction.