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We've got you covered! Read our Frequently Asked Questions below.

Frequently Asked Questions
What is ZASH?

ZASH is a cryptocurrency – it is an attempt to solve Zimbabwe's money problems using blockchain technology. Our goal is to establish sound money and a payments wallet you can trust. ZASH has a fixed amount of tokens – there are only 4.5 billion tokens in total. These are allocated to Zimbabweans, both inside and outside of Zimbabwe.

How do I join?

If you are Zimbabwean, sign up here.

Does it cost anything?

It is free to join if you have a Zimbabwean cellphone number and ID book. You don't have to pay anything – we will never ask you for your money. If you are not from Zimbabwe, you will be able to purchase ZASH on an exchange. It is currently listed on Bithumb Global.

How do I get ZASH?

Your allocation of ZASH will be transferred to your wallet when you activate your account.

Who is ZiTenga?

 

We’re a broader community of people in Zimbabwe and around the world who have a passion for the country and for sound money and banking. ZiTenga isn’t a corporation and neither is it one person. Rather, it is a collective of volunteers who have a vision for this simple idea – Zimbabwe is one of the few countries in the world where a decentralised fixed currency and banking system could be implemented by people living on the ground. You can read more about this on our first Fireside Chat letter:

https://www.zitengacom/2018/11/12/firesidechat1/

Is this a scam?

No, ZiTenga is not a scam. We will not now, nor will we ever, ask you for your money. Please watch out for people asking you to pay for ZASH if you are not buying on the exchange.

Is this a pyramid scheme?

No, this is not a pyramid scheme. No one’s earnings are based on what others pay. ZASH is given to everyone for free; only those who refer others are allocated more.

Is my information secure?

The information you give us is secure – passwords are encrypted, the database has industry-leading information security including two-factor authentication for our data engineers, and appropriate firewalls.

How will it benefit me?

Zimbabweans will be able to use their ZASH to make payments, transfer offshore with ease, and convert into international cryptocurrencies. ZASH will be tradable on an international Bitcoin exchange. International buyers can only get their ZASH by buying them from Zimbabweans. The current price of ZASH is approximately US$0.03 each.

When will I get ZASH?

Your will get your ZASH once you have activated and verified your account, as well as when people you have referred have activated and verified their accounts.

How will I get ZASH?

When you sign up, your online wallet will be created where you can log in to your account and see your ZASH balance; you will have a unique ZASH account number (member ID). People will be able to send ZASH to your account, you will be able to purchase ZASH, and you will be able to send ZASH to other verified users.

Are there international buyers?

ZASH will be tradable on international exchanges so you will easily be able to make international payments. It is currently listed on Bithumb Global.

What is a cryptocurrency?

A cryptocurrency is a digital currency that is operated on a decentralised server. Cryptocurrencies rely upon mathematics and the network effect in order to be generated, used, and to create value.

How is the supply of ZASH fixed?

The ZASH token is designed in such a way that it is impossible for anyone to create more ZASH than is established by the system. This is done using blockchain technology.

Can I trade ZASH outside of Zimbabwe?

ZASH is tradable on international Bitcoin exchanges, so you will be able to make international payments, transfers between parties both locally and internationally, and remit funds without hassle. However, note that our goal is to establish a transactional currency first. We will be implementing various restrictions on selling on the exchange until the network is appropriately developed.

What does decentralisation mean to you?

To us, there are three pillars of decentralisation that define our project:

  1. Decentralised blockchain to create sound money
    Our goal is to first establish a token that uses blockchain technology to fix the money supply. We want to ensure that nobody – not even us – can change the supply of money as has been created on the blockchain or take people’s money without them providing their private keys to authorise a transaction.

Our current project uses the TRON.Network ecosystem to fix the money supply. The system uses a delegated Proof-of-Stake (“DPOS”) consensus mechanism to ensure that no centralised party has the ability to change the money supply.

  1. Decentralise the value creation process
    We believe that the value for everyone is in us, together, developing a network of people all using ZASH. Each additional person who joins the network adds value to everyone else in the network; that means that each participant is responsible for building the community.

What this ultimately means is that when you hold ZASH, you can encourage people to sell their goods to you denominated in ZASH. Encourage people to create accounts and validate themselves on the network. This viral process – a decentralised community – is what will grow the network.

However, relative to the size of the network, the first few participants add the most in terms of building the movement and should be rewarded appropriately.

Accordingly, our entire token distribution model is centred around creating value in the hands of our participants and rewarding those who join early or who build the network with more tokens.

  1. Decentralised team
    All crypto projects start off centralised and can only become decentralised as the network grows.

However, we are not crypto anarchists. We want to walk the fine line between engaging with authorities, building a team, and working with decentralised technologies. We try as best as we can to push down the responsibilities of our community to local ambassadors.

Why Zimbabwe?

Zimbabwe is one of only a few countries that could implement a decentralised currency system on the ground. With the weaknesses in the money and banking system in the past 20 years, people within the country are desperate for a sound money solution.

What are Private Keys?

Private keys are the engine of a user’s wallet. A ZASH payment in a wallet can only be released with a private key.

Private keys give you control over what you do with your funds.

How do I get Private Keys?
  • With ZiTenga, you have two options to access ZASH:
    • You can choose to buy ZASH on the exchange; or
    • Signup on our system and get ZASH for free.

    1) Buy ZASH on the exchange

    If you buy ZASH from the exchange, you can create a separate wallet where you hold the private key and transfer your ZASH to that wallet.  You can also keep your ZASH on the exchange if you prefer, or convert to BTC or USDT.

    We do not control these exchanges, nor do we have any input with their management, so we recommend that you don't keep your ZASH on an exchange wallet.

    2) Receive your free ZASH allocation by signing up at ZiTenga

    For users who sign up with ZiTenga and receive a free allocation, the private keys of the wallets are kept securely within the ZiTenga system. This means you do not have access to these private keys.

    People receive ZASH for free by virtue of being verified Zimbabweans. Each person has the ability to pay others on the system.

    Some people may wish to transfer their ZASH to the exchange; however, this is not how our model works. Airdrops of this nature have been done in the past where users who receive their tokens for free go and dump on the exchange, crashing the price and cancelling the project.

    The model works by enabling people to extract the value of their ZASH by transacting with others in a peer-to-peer network. An allocated amount of ZASH is free for people to acquire when they sign up, but they can only use that value in transactions in day-to-day trade.

     

    Exchange liquidity

    Critical to this model is an understanding of exchange liquidity. We need to ensure that there is sufficient liquidity on the exchange before opening up the doors to appropriate users.

    At ZiTenga, our job is not to give people US dollars, but to give people a sound-money token that can be used in a ZASH network. We want to see people pay for goods and services on the ground without the need to cash out to USD or ZWL. The growth in the size and quality of our network will see us achieve this objective.

    As the payments network grows, we believe that this will attract exchange liquidity.

    Our goal is to eventually allow people to transfer ZASH off the ZiTenga wallet and onto other wallets such as the exchange wallet. However, this needs to be done slowly over time and only on the basis of a large ZASH payments network.