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What is OSLO ?OSLO is a digital money (cryptocurrency) build on the block chain network. Each coin represents the value of $0.01 (1 cent). It was created to be used by the average person in his/her dialy money use. Whether you are buying, selling, sending money to your family or simply saving your money in a secure digital account, OSLO is the way to go. You can exchange it at anytime to any other currency based on the fix price of the U.S Dollar. It's value is stable.
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Is OSLO secure?Yes, OSLO is built on the block chain network. The network is run by thousands of "nodes" arround the world. Any person can run and operate a node. For any transaction to be completed, > 51% of the nodes have to approve it. There is no Center processing center to be hacked or compromised. If any hacker try to cheat the network, it requires cheating thousands of nodes which is impossible.
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Who owns OSLO?No one. OSLO is a digital code circulate among people who agree on exchaning value. There is no bank to release it , cannot be minted, has unlimitted supplies available "On Demand". Any person can obtain (buy) OSLO either by obtaining it from the Reserve Wallet or buy exchange it for goods or service or by simply having someone send it to your wallet.
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How OSLO maintain it's value to the American Dollar?OSLO is preminted (created) and stored in the mother wallet called the RESERVE WALLET. Anytime someone acquire OSLO from the reserve wallet, OSLO is released to the public to be used. The total coins that are circulating is refered to as "the Circulating Volume". The amount of US Dollars collected in exchage to the OSLOs released are placed in multiple saving accounts in a regular traditional bank. AT all time, the saving account balance equal the Circulating Volume. Any person who owns OSLO can exchange it to the US Dollar from the Reserve wallet. The Reserve Wallet releases and absorbs OSLO to maintain a fixed value.
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What is the Transaction Fee?ZERO. The OSLO network is designed to operate without transaction fee. You can buy, sell , transfer fund and save OSLO for free. The only time that you have to pay fees is when you exchange it to another currency, those fees are charged by the traditional banks not by the network.
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Can the network shut down? Can I loose my money?NO, the network is run by thousands of nodes, no centeral system that can be shut down. Your wallet is protected with a 24 secret words that keeps your money safe and secure. The only way you can loose your money is if you share your secret words with someone , or someone hacks your computer or phone. Do NOT save your secret words on your devise.
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How to obtain OSLO?You can purchase it online from the website (OSLOcrypto.com) You can obtain it by selling goods or service to other OSLO holders. Your family members can send you OSLO to your wallet.
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How do I exchange OSLO to other currency?At anytime you can change OSLO to any other currency at your local country. 1- You can go to our website (OsloCrypto.com) , connect your bank information, send us the amount you want to exchage and we will use the traditional bank to wire you the equivilant fund (Charges by the bank may apply, may take few days to be completed). 2- Check with your local exchange agents who accept to exchange OSLO for you. (As the adoption increases, we will be expanding our local exchange agents). 3- Exchange it with someone who you know and trust, many people are looking to save thier money digitally and will be happy to obtain OSLO (both parties save the traditional bank exchange fee). 4- Exchange it to other Cryptocurrency (like Bitcoin) from exchange services (the fee will be charged by the exchange provider not OSLO network)
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Why OSLO worth $0.01 (1 Cent) ?OSLO is meant to be used by the averge person world wide, especially in the developed countries. These countries goods and services are usually valued by the fraction of the US Dollar. The value of 1 Cent meant to make it eaier to be used on the day to day transaction without using the fractions of the Dollar. A loaf of bread in a developing country cost $0.05 , that translate to 5 OSLOs. A soda can will be 3 OSLOs, a gum is for 1 OSLO ..... make sense?
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How do you maintain privacy?The wallet is generated randomly without verification of the owner. No one know which wallet belong to who? You can create more than one wallet and move money freely.
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How is OSLO Transparent?There are some occasions, transparency is required to avoid corruption and mishandeling of fund. If this is required, a wallet can be created for a specific fund, then all the transactions can be audited and monitored by the creator. For example: If the United Nation decided to fund a vaccination project in one of the developing countries. The UN will create the wallet and name it "The Vaccination Fund" , then the UN will obtain and deposit OSLOs in the wallet. The entities who manage the wallet will be spending the fund for the project while being monitored by the UN. Another example: Parents can create a wallet for thier minor child who in return will spend the fund under the full view of the parents. A third example: An NGO (Non-Profit Organization) is collecting fund for a desaster releif in on the countries, a special wallet can be created for that specific cause and donnors can donate to that wallet and can monitor who thier donations are spent. One more example: A person who is obligated to pay child support for his children, can create a wallet to deposit the monthly fund and keep tracking of where this money is spent. There are unlimited applications to the OSLO applications all over the world... you add your own application!
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What is the Wallet ? What is the account?In cryptocurrency, there is no bank, no third party , no middle man to keep your money for you. You are your banker and only you can keep and use your money. Creating a Wallet is like assigning a "bank" for your money. Once you have your wallet then you can create multiple accounts within the wallet as you need, like checking account, saving acccount, retirement account, emergency account .... etc
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How do I start using OSLO?See operation category
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Why OSLO was created?The new worl is in need of a secure , reliable currency that is stable in value adn immune from fluctuation and inflation, easy to be exchanged and most important to have no transaction fee. OSLO is meant to be used by the average person for his/her daily use. It serves as a digital money where you store your wealth and exchange it freely.
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Why OSLO doesn't have an app?OSLO is meant to be easy to use without the restrictions of other software provider, all what you need is a basic browser to operate it. No need for any "permission" from any entity. In some countries, dictator regimes prohibit the populations from using Cryptocurrency , having an app in someone's phone can cause prsecution and possible jail. By using the browsers that everybody have, we will decrease that risk.
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It's complicated , What is the meaning of ?For the average user, Digital money carry new phrases but in fact can have traditional meanings. Once you get yourself familiar with the meaning, then everything become easy. Wallet = Bank Account = Bank Account Account number: Is called "Public Key" which is equivelant to your bank account number. Seeds: Code or Private key that only the owner have it (consists of 64 digits) mnemonic: Code or Private Key that only the owner have it (consists of 24 words) Configure: Connect or sign in
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How do I own the wallet?The person who has the "seeds" or the " mnemonic" owns the wallet. Each one of them is called "Private Key". Any one of them is used to access the wallet from any device or browser.
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How do I start?Here are the steps: 1- Create a wallet : go to (wallet.oslocrypto.com) , click on "start a wallet" , then chose "new wallet" . Once you create the wallet, you will be given the "Private Key" which is a long code (numbers and symbols known as seeds), as well as 24 secret words known as mnemonic . You MUST keep those secure and away from any person. the person who obtain the code or the secret words can control the whole wallet from any devise around the world. Then it will ask you to enter a "password" this password is only for the device that you are using (computer or smart phone) , this is used to Lock/Unlock your wallet on that specific devise. 2- Create accounts: by default, once you create your wallet, you will have one account already created for you, you can edit the name of the account, then you can create as much accounts as you want and give each one a name. 3- Obtain OSLO: You can buy OSLO from our webside (OsloCrypto.com) or you can recieve OSLO by selling goods or services or recieve OSLO from family members. each account has it's own code or QR that you can share with others to recieve fund (we call it " Public Key" ) , it's exactly like your bank account number.
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How to send OSLO?Once you connect your wallet , make sure to "Unlock" it using the password for your device. 1- Click on "Send" tab. 2- Chose the account number you want to send the OSLO from. 3- Chose the account number you want to send the OSLO to , this can be done by scanning the QR of the receiving account, or by pasting the account number that the receiver sent you or from your address book. 4- Click SEND OSLO.
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How do I receive OSLO?1- Click Receive tab. 2- Chose the account you want to receive the fund to. 3- Enter the amount. 4- Have the payer scan the QR code or you can send the account number to the payer if not present with you. For murchants, you can print the QR code or post it on your website, customers can scan it and pay.
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What is the Address Book?The Address book was created to allow you to save accounts that you frequently deal with. Add accounts of your bakery, grocery shop, car payments, utility bill ... etc 1- Click Address book tab. 2- Give the account a name. 3- Paste or QR scan the account number. 4- SAVE Anytime you want to send OSLO, you can chose the appropriate account from the address book.
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How do I lock my wallet?The password that was created when you set up the wallet is used to Unlock the wallet. This function allow you to use your wallet in your shop where you can receive fund, but cannot send fund or change any of the setting of your wallet.
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My wallet is connected but I lost my seeds and mnemonic.Click Manage Wallet tab. Copy the mnemonic or the seeds
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I lost my seeds and mnemonic ? what should I do?Sorry, there is no way to recover your wallet once you loose your seed or mnemonic.
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What is a representative?A representative is a "node" that is part of the OSLO network. Each wallet can assign a representative or it will be assigned randomely by default.
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How to sign off my wallet?If you want to sign off your wallet, click on the app setting tab, then click on "Delete Wallet Data" , Make sure you have your seed or mnemonic before you sign off, you will need one of them to restore your wallet.
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How do I switch from one wallet to another?Click on "Configure New Wallet" tab and connect your other wallet.
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