Wallet verification is the process that links your Zucoins Wallet to Zutopia, allowing the marketplace to check your holdings before and after each trade.
This step is required before you can buy or sell Zucoins on Zutopia.
How Verification Works
When you link your Zucoins Wallet to Zutopia:
Your wallet is securely connected to your Zutopia account using message signing.
Zutopia records your wallet address so it can verify your Zucoin balance when required.
During a trade, Zutopia checks the seller's wallet before and after the transfer to confirm that the Zucoins have been successfully transferred.
Once the transfer has been verified, the buyer's payment is processed through Stripe.
Like a blockchain, anyone can look up a person's holdings via the SplitChain browser if they know the wallet address. This is part of how verification is technically possible.This verification process helps ensure that payments are only completed after the Zucoin transfer has been successfully confirmed.
Important Notes
You must verify your Zucoins Wallet before you can buy or sell Zucoins on Zutopia.
Zutopia uses your wallet address only to verify marketplace transactions.
Zutopia does not store your Zucoins or your wallet credentials.
Wallet addresses are publicly viewable on the SplitChain network, allowing transactions and wallet balances to be independently verified.