Question 1

What is Steelcoin X?

Accepted Answer

Steelcoin X (SCX) is an ERC-20 utility token issued by SC STEELCOIN GmbH, an Austrian company within the FRANKSTAHL Group. SCX gives holders the right to acquire and collect physical Hot Rolled Coil steel supplied by the issuer. One SCX corresponds to one metric tonne of HRC, but redemption is only available for whole coils, which usually require 20 to 30 SCX. SCX cannot be redeemed for cash and does not give holders ownership of steel before redemption, shareholder rights or profit rights. Holders become owners of the HRC only once the redemption process is completed and the steel is handed over. SCX can be transferred on Ethereum, subject to applicable laws and restrictions, and may be traded where market access is available. Redemption depends on HRC availability, the issuer’s ability to supply the steel and the collection process.

Question 2

Who created Steelcoin X?

Accepted Answer

Steelcoin X was created by its founding team and developers. For detailed information about the project's origins and team, please refer to the official documentation and whitepaper.

Question 3

How do I buy Steelcoin X?

Accepted Answer

You can buy Steelcoin X on various cryptocurrency exchanges. First, create an account on a reputable exchange, complete the verification process, deposit funds, and then place an order for Steelcoin X.

Question 4

Is Steelcoin X a good investment?

Accepted Answer

The value of Steelcoin X, like all cryptocurrencies, can be volatile. Before investing, research thoroughly, understand the risks, and never invest more than you can afford to lose. Consider consulting a financial advisor.

Question 5

How do I store Steelcoin X?

Accepted Answer

You can store Steelcoin X in cryptocurrency wallets. Options include hardware wallets (most secure for long-term storage), software wallets, and exchange wallets. Always backup your wallet and keep your private keys secure.

Question 6

What makes Steelcoin X unique?

Accepted Answer

Steelcoin X has unique features and technology that differentiate it from other cryptocurrencies. These may include its consensus mechanism, transaction speed, scalability solutions, or specific use cases within its ecosystem.

Question 7

What is the current price of Steelcoin X?

Accepted Answer

The current price of Steelcoin X is displayed at the top of this page and updates in real-time. You can also view historical price charts and market data including 24-hour trading volume and market capitalization.

Question 8

How is the Steelcoin X network secured?

Accepted Answer

The Steelcoin X network is secured through its consensus mechanism, which may include Proof of Work, Proof of Stake, or other validation methods. This ensures transaction integrity and prevents double-spending.

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