FAQ


Ethos FAQ

Ethos is a people-powered cryptocurrency services company.  Our mission is to make the daunting cryptocurrency market accessible to everyone and accelerate safe adoption of blockchain technology for consumers and financial institutions.

The Ethos platform is an ecosystem that provides the tools to manage wallets and keys for safe, verified blockchain transactions. Ethos is dedicated to providing consumers, developers and businesses a unified wallet and API solution to power the financial applications of the future.

  • The Ethos Universal Wallet is a self-custodied blockchain asset management architecture open to consumers, institutions and developers.

 

  • Ethos Smart Keys are a breakthrough solution that allows secure self-custody or custodial management of hundreds of different coins, tokens and currencies with a single key.

 

  • Ethos Bedrock provides a “Stripe for Crypto” processing and development platform that can run scalable applications, broadcast data and verify identity and source of funds on the blockchain.

 

  • The Ethos API connects seamlessly with financial institutions creating a new breed of FinTech applications.

Ethos is dedicated to enabling a safe and secure ecosystem for consumers, financial institutions and governments who wish to operate on the blockchain.  

 

  • Ethos verified addresses ensures there is a real person with a social profile behind every transaction securely stored on the blockchain.

 

  • Ethos KYC / AML enables a verified source of funds and extra level of security for wallets, addresses and accounts to combat money laundering and fraud.

 

  • Ethos Premium Wallet addresses enable brands and individuals to officially register address names on the blockchain, providing a safe identity, and a convenient email-like address for easier payments and a greatly reduced likelihood of error.

Smart Keys are built by combining the best of the BIP32, BIP39, BIP44 and SLIP44 standards.  A single 256-bit “root” key can be used to derive any coin that supports these standards. In addition, Smart Keys enable multiple account types spanning individual, joint and custodial – all from the root key.

Really really really really REALLY small.  There are so many possible combinations that we could theoretically create 10 billion Smart Keys for every atom on planet Earth.

Ethos Token

Platform & Technology

Yes.  Ethos is designing the entire platform to run on APIs for both scalability and security reasons.  Some will be internal, and some will be accessible externally such as data signals and Predictions.

Ethos had a limited alpha in 2017, and will enter beta and production in 2018.

Basic wallet features will not require identity verification.  Any service related to fiat and purchasing digital or traditional assets will require complete identity verification for KYC and AML purposes.

No, not initially but we will make an announcement when any changes occur.

Certain features such as Predictions and some Social features will be available to anyone. Some features in the Universal wallet may require ETHOS tokens.

ETHOS Token

The token ticker for Ethos is ETHOS. Some places you may see the token referred to by its previous ticker BQX. BQX and ETHOS are the same token and there is nothing you need to do if you own a token referenced by either ticker.

ETHOS is the “fuel” that powers the Ethos Ecosystem. Any developer can build applications that leverage Ethos wallets, keys or data in Bedrock and pay for micro-service API utilization through the ETHOS Token.

Additionally, ETHOS tokens reduce the cost for consumers, businesses and developers and enabling micropayments at very low cost to create a safe, secure and verified way for anybody to participate in the new economy.

ETHOS offers the consumers, businesses and developers several benefits, including:

  • Reduced costs for consumers
  • Low-cost applications for developers
  • Scalable micropayment transfer mechanism for all platform services
  • Supports a open financial ecosystem that bridges traditional and crypto assets
  • Enables verified source of funds through the Ethos ecosystem.

Yes, ETHOS is available to US and Singapore participants through reputable Exchanges.  Ethos does not endorse or support any particular Exchange.

Binance, Coinexchange, HitBTC, EtherDelta and Coinspot.   Please note that Ethos does not recommend or endorse any exchanges and assumes no responsibility with respect to those services.

Visit an Exchange that offers ETHOS.

If your tokens don’t appear automatically then do the following:

Look for “add token” in your wallet

You can enter the contract address: 0x5af2be193a6abca9c8817001f45744777db30756

The Token Ticker: ETHOS

And the decimal number: 8

And you should be able to see your tokens.

Compliance & Regulation

A Functional Token – also known as an “Access Token” is a token that is used to access a platform and/or a set of APIs.  ETHOS is both a Functional and an Access Token that is designed to be useful to both consumers and programmers.

A “Tokenized Security” is a token that pays a dividend, shares profits, pays interest, or invests in other tokens.   These tokens may not be compliant in certain jurisdictions such as the United States.

ETHOS is not a security, or Tokenized Security, because it does not meet the legal definition of a security applicable in the United States, Canada, Singapore, United Kingdom or any other OECD jurisdiction. In the United States, this is more commonly referred to the “Howey Test”

The “Howey Test” is a test created by the Supreme Court for determining whether certain transactions qualify as “investment contracts.” If so, then under the Securities Act of 1933 and the Securities Exchange Act of 1934, those transactions are considered securities and therefore subject to certain disclosure and registration requirements. A security is found to exist when all 4 of these elements exist, 1) investment of money 2) in a common enterprise 3) with an expectation of profits 4) from the efforts of others. Although our Token Sale involved an investment of money, none of the three remaining elements were applicable.

Ethos strongly encourages its users to report and pay taxes on gains and losses.  Ethos will give you a gain/loss report that will make this easier.

Consumer Protection

No, wallets, coins and keys reside under your control and responsibility at all times.

No, Ethos can only access users assets upon the instruction of the user where the user provides a security key with each transaction to enable access to Ethos.

If your question is not addressed, we  highly recommend joining our telegram channel at https://t.me/Ethos_io where you will get access to thousands of Ethos community members across the globe who can likely answer your question far faster than we can. It may take several days for us to get to every ticket as we receive many queries every day. If you would like to open a ticket, email [email protected]