# Prize Winners

## I just received a prize, what should I do?

Congratulations on the good ranking! 🎉

Your prize will be transferred to your Solana wallet, which is managed by [Privy.io](https://privy.io/), our authentication provider. You are the only one who can access it, and CrunchDAO will cover all transfer fees when you need to move your prize elsewhere.

All transactions are now processed through [the Solana network](https://solana.com/). **This is a significant change because wallets are incompatible with the Ethereum network**. We had to leave Ethereum due to its high barriers to entry and high fees.

### KYC

If you took part in a major competition such as the Structural Break, you will receive an email with instructions on how to complete the KYC process.

This is necessary in order for you to receive the funds. It helps us combat individuals with multiple accounts who try to exploit our system.

Refusing to comply is the same as refusing your prize.

### Managed Wallets

CrunchDAO uses [Privy.io](https://www.privy.io/) to provide users with a wallet that is ready to use. Users can receive prizes in their wallet and transfer them out later when they are ready.

You manage this wallet [via the Hub](https://hub.crunchdao.com/account/wallet), where you can:

* Check your current balance and transfer tokens elsewhere.
* View your transaction history.\
  This logs all your interactions with real-time competitions.
* Export the private key.\
  The first time you do it, you will receive an email indicating that the wallet is now considered unsafe. If you did not take this action, please [contact us](https://docs.crunchdao.com/competitions/contact-us#help-with-the-crytocurrencies) as soon as possible!

{% hint style="info" icon="lock" %}
To secure this wallet, we strongly suggest that you [enable 2FA on your account](https://hub.crunchdao.com/account/security).

This step is necessary for exporting the private key.
{% endhint %}

### Centralized Exchange Wallets

To withdraw funds more quickly into a fiat currency, select the correct network and click the **`Receive USDC`** button on your exchange. This will ensure the funds appear directly in your account, so you won't need to cover the transfer fees.

{% hint style="warning" %}
Make absolutely sure that you **can convert the 1 UDSC test back to fiat first**, as some exchanges have a minimum amount policy (e.g., [Kraken](https://support.kraken.com/articles/360000292886-cryptocurrency-deposit-fees-and-minimums)).

Once we send the full amount, you are responsible for the tokens.
{% endhint %}

{% hint style="info" %}
If your exchange asks you about the origin of the tokens, tell them the following:

* Company Name: Crunch Lab, Inc.
* Exchange Name: Bitstamp.

If they request more information, don't hesitate to [contact us](https://docs.crunchdao.com/competitions/contact-us#help-with-the-crytocurrencies).
{% endhint %}

## Why cryptocurrencies?

To eliminate the need for international transfers, all prizes are paid in cryptocurrencies.

This rule will not be waived under any circumstances, including requests for a bank transfer or equivalent.

This also ensures that transactions can be traced on the blockchain.

## <mark style="color:red;">Be on alert for Scams!</mark>

To keep your assets safe, always verify the source of any communication that claims to represent us. Verify email addresses and social media profiles. Remember that we will never ask for your private keys or passwords.

There is a 100% chance that the following is a scam:

* If you need to complete any KYC procedures or validation for your wallet! <mark style="color:red;">**That is a scam!**</mark>
* If you need to have any minimal amount to receive our prize. <mark style="color:red;">**That is a scam!**</mark>
* If we promise an airdrop in private/direct messages. <mark style="color:red;">**That is a scam!**</mark>

If you have any doubts, [contact us directly](https://docs.crunchdao.com/competitions/contact-us#help-with-the-crytocurrencies)!