I understand we send our old Tagcoin to the burn address, and the transaction ID, but where is the new wallet for the new Tag cash? Is it an online only wallet?
Also why is the swap only 1:1 when there are many more Tagcash than there were Tag coin?
Yes it's a web wallet for now. You first need to go to Tagcash.com, click on menu in upper right corner, then create an account. You will be given a User ID and then follow these steps:
1. Burn your tagcoin by sending to TRCryptoLifeDotNetBurnAddrXXX6gvik
2. Send the transaction ID of the burned coins, to [email protected] along with your Tagcash ID/email in the Tagcash Wallet
3. Untill December 2017, we will swap 3 new TAG for 1 old tagcoin
4. From Jan 1 Jan 31, we will swap 2 new TAG for 1 old tagcoin
5. During ICO public sale, February and March, we will swap 1 for 1
At the end of the ICO, we will not be doing any more exchanges.
The swap is currently at 2:1 but previously was at 3:1