How to convert PRV node earnings to other currencies like BTC or ETH?

It’s easy. You just need to trade it for the currency of your choosing. Where? In the mobile app.

From the navigation bar at the bottom of your app screen, tap on pDEX. pDEX is the decentralized exchange built on the Incognito Chain. On pDEX, any coin in your Incognito Wallet – including your earned PRV – can be exchanged for any other of your choosing.

As of February 19, 2020, PRV is traded against 33 other cryptocurrencies. You’ll find the following list of currencies familiar, with the addition of a ‘p’ symbol – this denotes that the coin is private, as it resides in the Incognito ecosystem. Example: BTC and pBTC. When you withdraw any of these currencies to an external wallet, it loses its anonymous qualities and drops the ‘p’ in front of the ticker.

Crypto PRV trades against on pDEX
pBAND
pBAT
pBNB
pBTC
pBUSD
pCELR
pDAI
pDGX
pENG
pENJ
pENQ
pFET
pFTX
pHOT
pKAT
pKEY
pKNC
pLINK
pMATIC
pMCO
pOMG
pONE
pPAX
pPOWR
pREC
pRSV
pTOMO
pUSDT
pUSDC
pWABI
pWTC
pXYO
pZIL

For example, say you want to convert your PRV earnings to privacy BTC (pBTC) on pDEX. Here’s a quick walkthrough of the process:

1. Withdraw your PRV earnings from your pNode account

In the Node page, select the pNode that you want to withdraw earnings from. Click on ‘Withdraw earnings’ in the bottom pop-up and you will see your earned PRV in your wallet view. Please note that this may take a while to complete – up to 24 hours in some cases. This speed will improve shortly as the process is automated. Your wallet balance will update when the withdrawal is complete.

2. Deposit PRV to start trading

To start trading, first you’ll need to deposit PRV into your Incognito trading account. Open up pDEX, and:

  • Tap ‘Deposit to trade’.

  • Select the account you want to deposit PRV from.

Note: by default, withdrawing earnings from your pNode will move them to your pNode account (its name is the same as your Node ID). You can view your list of accounts by tapping the gear icon on the top left of your main wallet screen

  • Then customize the network fee if you wish. As usual, higher network fees result in faster transaction times.

  • Make sure everything is in order, then tap ‘Deposit’. Your trading account balance will take a couple of minutes to update the PRV balance.

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3. Trade PRV to Privacy Bitcoin (pBTC)

It’s simple to make the 100%-confidential trade PRV to pBTC.

  • Select the trading pair PRV/pBTC

  • Enter the amount you would like to trade and the algorithm will determine how much pBTC you will get

  • Customize your trading fee or leave it as the default if you want

  • Enter the minimum amount you will accept for the trade

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Trade initiated! Most trades will be successful, and your balance will update in a few minutes. In rare cases, network fees or trading fees will be insufficient, and you might have to initiate the trade again with adjusted values.

Now, either continue trading or withdraw your funds from your trading account.

4. How to withdraw your pBTC from pDEX account to your main account

  • Tap the menu on the top right and select withdraw

  • Select the account you’d like to withdraw pBTC to

  • Choose pBTC

  • Enter the amount of pBTC

  • Select the network fee or use the default

  • Then tap ‘Withdraw’

In a matter of minutes, you will see pBTC appear in your main account.

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pBTC and BTC maintain a 1:1 value. You can stop here if you’d like to keep your cryptocurrency private, but if you’d like to move it out of the Incognito ecosystem, here’s how:

5. Turn pBTC to BTC

First of all, you turn your pBTC into BTC by using the Withdraw feature (you can find this feature by clicking the three dots in the top-right corner of the pBTC balance account screen).

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Fill in how much you want to withdraw, and where you want to send it.

That’s it! Now, you have BTC in the wallet you sent it to.

Note for those who want to cash out to fiat: you can trade BTC (and many other top cryptocurrencies) on public exchanges like Binance or Coinbase to receive fiat money like USD or EUR.

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