FAQs for users

Frequently Asked Questions (FAQ) - Valtius NFT Auctions

1. How do I participate in Valtius auctions?

You need to create an account and make a deposit to participate. There are two deposit options:
– Stable cryptocurrency (USDT or USDC) via Solana Blockchain
– Bitcoin via Bitcoin Blockchain

This deposit will be converted into “Valtius Tokens” that you can use to bid in ongoing auctions.

2. How can I withdraw my initial deposit?

You can withdraw your initial deposit at any time. Simply initiate the withdrawal process from the “Withdraw” section.

3. What is the value of Valtius Token?

It is used for bidding and other actions within the platform.
The equivalence is equal to the dollar, 1 to 1.
Example: 10 Valtius Tokens are $10 -> 500 Valtius Tokens are $500.

4. How does the bidding process work?

Bidding is simple. Specify your desired bid amount. If your bid surpasses others, you become the highest bidder, and if the time reaches 0, you will be the winner.

5. What happens if I win a bid?

You can claim your asset from your profile, paying with the Valtius Tokens you deposited. After confirming the purchase of the winning auction with the corresponding Valtius tokens, the administrators will contact the winner to deliver their corresponding asset.

You can sell your assets in StampedNinja 

6. What happens if I lose a bid?

You will not have to pay anything and you can proceed to wait for the next auction to have the Valtius Token ready to bid or proceed to make the withdrawal

7. Are there any penalties for not completing the transaction on time?

Yes, there are penalties for not completing the transaction within 48 hours. If the winner fails to pay on time, penalties are incurred, and the opportunity to acquire the asset passes to the second highest bidder.

Penalties are 10% of the bid amount.

8. Can I rebid if I get outbid?

Yes, if your bid is surpassed, you can choose to rebid or withdraw.

9. How does the system ensure fair play?

The system employs penalties to discourage defaulting on winning bids, ensuring fair play and active bidder participation.

10. How can I access the VIP bidding section?

You can access it, but you won’t be able to bid as it requires a membership level. There are three types:
– Free: Access and participate in bids
– VIP Bidder: Access and participate in both classic and VIP bids
– VIP Auctioner: Access to participate in all bids and even auction your own artworks

For more information or assistance, please contact our support team. We look forward to seeing your amazing works in our auctions!
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