Uniregistry will be removing TopCoin, the loyalty based rewards program offered when registering domain names.
Many people would always ask how they could use their TopCoins or what value they had.
From their website:
Topcoin is based on the belief that alternative currencies, and specifically those based on the Bitcoin protocol, will introduce creativity & lower transaction costs in almost all aspects of the financial system.
Topcoin is designed to disrupt customer loyalty-reward programs, an industry widely loved by consumers that has artificially high transaction costs. Like frequent flyer miles in the travel industry, Topcoin rewards purchasers of digital goods with currency that can be used to purchase additional related services. Topcoin’s initial applications are in the web site creation ecosystem, including domain names and web hosting.
Topcoin was created in September 2014 by Josh Jones and Michael Blend, two leading technology entrepreneurs based in Santa Monica, California.
Here is the email:
Dear Customer,
We are taking steps to remove TopCoin from our platform.
The decision to discontinue TopCoin did not come easily and was largely based on customer feedback and our desire to focus on in-house products and offerings.
Starting January 1st, 2019 we will no longer issue TopCoin as a reward currency.
Existing TopCoin owners will have until March 31st, 2019 to redeem their TopCoins with Uni and access their TopCoin account balance with us.
TopCoin will still be redeemable through approved TopCoin merchants. Please visit topcoin.com for more information.
![[IMG]](https://nameproscdn.com/proxy.php?image=https%3A%2F%2Fci5.googleusercontent.com%2Fproxy%2F19q6qcLHCUkXzcjt9y_VE9OX5yiAvMWPGrADDHwnwRoQGZqDEFnocl5OqHja3gItFNrGP4ovkpjTlxmQrHd_XVsUHFw8Tajl_U9X%3Ds0-d-e1-ft%23http%3A%2F%2Fi6.cmail20.com%2Fei%2Fd%2F49%2FA04%2FE18%2F163159%2Flogo-02.png&hash=937594b240051cafed90186043a53881)
Uniregistry Corp.
3-110 Governors Square
PO Box 1361
KY1-1108
Grand Cayman,
Cayman Islands
I have around 800 of those Topcoins. Uniregistry should just allow people to use them up to purchase new names. So, if a name cost $10.99 or $8.99 to register then just pay 11 or 9 coins. They could make up the difference during the renew process.
“Existing TopCoin owners will have until March 31st, 2019 to redeem their TopCoins with Uni ”
Unless they change usage, you will never redeem all your topcoin because you earned more in the purchase of a domain than you spent on applying topcoin to save.
And it was dependent on the extension as to whether you could even apply it.
If you are a large enough customer, the savings you made invalidated the use of topcoin
So the deadline to redeem topcoin is just a sales pitch to spend money which, when considering Domain Perks really makes me wonder about the viability of uniregistry/uni and whether they are a bit cash strapped.
I was just hit with 50$ renewal. Plus SSL another 25$.. No reason to stick with Uni anymore. My domains are off Auto Renew
By enabling TopCoin you chose to earn free TopCoin at no additional cost when registering, renewing, or transferring a domain. If you think One TopCoin is worth One US Dollar universally, why should the source of your free TopCoin take it back?
How about to show appreciation and maintaining goodwill and customer loyalty.
Promising a bonus incentive for being a customer with no expiration date then snatching it away is yet another instance where people will see it as a ” bait and switch” registrar. This is an opportunity for some good PR by giving these customer coins some tangible value for redemption.
Divide a dollar into seventy thousand equal units, that’s what one TopCoin is worth now. It takes 700 TopCoins to equal a penny.
TopCoin’s all time high was Jan 08, 2018 when the value reached $0.012255 (USD) 1 Cent
There is a Total Supply of 41,643,721 TOP 41 Million Cents was the Market Cap of this cryptocurrency at it’s peak. $410,000 bucks
Divide 410,000 by 70,000 and the GRAND TOTAL TOPCOIN MARKET CAP = $5.85
The topcoin you are referring to is not the topcoin uniregistry is referring to.
Uniregistry.com links to Topcoin.com
ABOUT links to Topcoin.network/whitepaper.pdf
Coinmarketcap.com/currencies/topcoin/
TECHNICAL DOCUMENTATION links to Topcoin.network/whitepaper.pdf
Read TopCoin is a token built on the Ethereum ERC-223 protocol.
Could there be an illusion it’s two TopCoins
From my understanding there is the cryptocurrency (TOP) which you can mine/trade
https://coinmarketcap.com/currencies/topcoin/
And then there is topcoin which you earn and spend by buying domain names.
So the first is currently valued at
$0.000760 USD
While the second appears to be treated as a 1:1 value so if you redeem 1 topcoin you get us$1 discounted.
Post didn’t go through, maybe later.
Topcoin.com has a 1:1 valuation when redeemed against a domain purchase, so 1 top coin used gets you $1 discount (with a maximum usage allowed, so you can’t buy a domain with only top coin.
Meanwhile their is a crypto called top coin (TOP) that has a valuation of $0.000760 per coin which is far from a 1:1 valuation.
Never been able to use topcoin at Uniregistry anyways… “maximum discount enable” so I just don’t give a trump about them now..
I have over 1k of them but how to use them?
It seems that you can’t redeem them on .com, net org domains… “max discount” already applied.
And if you can redeem up to 4 or 5 for a new GTLD (which sucks) you will get more Topcoins back for the purchase than you redeemed. Uniregistry was heavily promoting Topcoin. At least offer your clients to take them back for a small credit to their account that they can spend on TLDs that actually matter!