SpaceX IPO in Crypto Wallet

Important:

  • Nothing in this article or in Crypto Wallet constitutes a recommendation or an offer to make any transaction. You are solely responsible for evaluating whether trading perpetual contracts or other assets is suitable for you, taking into account your financial resources, experience, and acceptable risk levels.
  • While offering access to cryptocurrency swaps, tokenized asset and perpetual futures trading, Crypto Wallet does not provide investment advice. Like any other cryptocurrency-related operation, interacting with such assets involves risks.
  • “Stocks”, “ETFs”, and any references to “tokenized stocks/ETFs” refer to xStocks. xStocks are price-linked tokens tied to real-world shares of US stocks and ETFs. Continue reading to learn more about stocks, ETFs and other assets traded in Crypto Wallet.

What are IPO and Pre-IPO

IPO (Initial Public Offering) is the process by which a company’s stock becomes available for public trading on an exchange for the first time.

Pre-IPO is an opportunity to place an order for such an asset before trading begins on the exchange.

In Crypto Wallet, the first Pre-IPO offering is SpaceX (SPCXx) tokenized stock.

Important: participation in a Pre-IPO does not guarantee profit. Once trading begins, the asset price may either increase or decrease. In addition, an IPO may be modified, postponed, or cancelled due to market conditions or regulatory requirements.

Throughout this article, the terms “Pre-IPO” and “pre-order” are used interchangeably. The term “order” refers to your request to participate in the pre-order.

What is the SpaceX (SPCXx) stock pre-order

The pre-order allows you to place an order for SpaceX (SPCXx) tokenized stock before trading begins on the exchange.

To participate, simply specify the amount of USDT you would like to invest. On the trading launch date, these funds will be automatically used to purchase SpaceX (SPCXx) stock.

The purchased stocks will then be sent to your Crypto Wallet balance and become available in the Trade section. You can review the Terms here.

How to place a pre-order for SpaceX (SPCXx) stock

  1. On the Crypto Wallet main page, tap the SpaceX IPO banner.
  2. In the Pre-IPO Access section, you can see the order submission period.
  3. Tap Place Order.
  4. Enter the amount in USDT.
  5. Review the estimated number of SPCXx stocks.
  6. Tap Review Order and Submit Order.

Once your order is confirmed, its status will change to Submitted. You will also see information about the order amount, the estimated number of stocks, and the submission date.

What happens to my funds after I place an order

Once you place an order, the specified amount is reserved in your balance and becomes unavailable for other transactions. On the trading launch date, these funds are used to purchase SPCXx stocks, which are then credited to your Crypto Wallet balance.

How much does one SpaceX (SPCXx) stock cost during the pre-order period

During the pre-order phase, the price of one SPCXx tokenized stock is $135. This price is based on SpaceX's IPO offering price. Crypto Wallet does not set this price independently.

How is the number of stocks calculated

After the fee charged by Kraken, the provider facilitating the transaction, is deducted, the remaining amount is used to purchase SPCXx stocks.

Example:

If you place an order for 100 USDT:

  • The fee charged by Kraken is 5% (5 USDT). 
  • 95 USDT is used to purchase stocks.
  • You will receive approximately 0.70 SPCXx stocks at a price of $135 per stock.

In Crypto Wallet, you can buy and hold both whole and fractional stocks. As a result, the number of stocks you receive may not be a whole number.

Is there a fee for participating in the pre-order

Yes. Kraken, the transaction provider, charges a 5% fee on the order amount.

Are there any limits on the order amount

Yes. The minimum order amount is 10 USDT. The maximum order amount is 1,000,000 USDT.

Can I place multiple orders or change my order amount

No. You can only place one order for the SpaceX (SPCXx) stock pre-order.

However, you can increase your order amount until the order submission period closes. The submission period, as well as the date and time when it ends, are displayed in Crypto Wallet.

When and how will the stocks appear in my balance

Once you place an order, the asset page will display the Submitted status.

On the trading launch date, SpaceX (SPCXx) stocks will be automatically credited to your Crypto Wallet balance and will appear in the Trade section.

Is verification required to participate

Yes. To participate in the pre-order, you must complete the basic verification process in Crypto Wallet. This is a standard requirement for transactions involving tokenized stocks (xStocks).

If you are already trading Stocks and ETFs in Crypto Wallet, no additional verification is required.

Are there any regional restrictions 

Yes. The ability to participate in the pre-order depends on your country and the region associated with your Crypto Wallet account. If the pre-order is not available in your region, you will not be able to place an order. You can review the Terms here.

We also recommend checking in advance whether Crypto Wallet is available in your region.

How can I cancel my order

You can cancel your order until the order submission period closes.

To do so:

  1. Open the pre-order page in Crypto Wallet.
  2. Tap Cancel Order.
  3. Confirm the cancellation.

Once the order submission period has ended, your order can no longer be cancelled.

Will the fee be refunded if I cancel my order

Yes. If you cancel your order, the full order amount, including the fee, will be returned to your balance.

Will I be able to buy more SpaceX (SPCXx) stocks after trading begins

Yes. Once trading begins, SpaceX (SPCXx) stocks will be available in the Stocks and ETFs section of Crypto Wallet, just like any other tokenized asset. You will be able to buy, sell, and hold them as usual.

Unlike the pre-order, purchases made after trading begins will be executed at the current market price. This price may be higher or lower than the pre-order price.

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