As requested by the Community via HIP13, the Transfer Hotspot feature is available for Hotspot owners of the Network to transfer their Hotspots to another owner.
This feature enables Hotspot owners to transfer ownership of a Hotspot to another user. Once transferred, the new owner will receive all future Hotspot mining rewards.
- Only the Hotspot owner can initiate a transfer.
- This feature is only available on app version 2.8.0 or newer. Both parties must have 2.8.0 or newer for Transfer Hotspots to succeed.
- Parties do not need to be physically next to the Hotspot for transfer to succeed.
- This feature requires both users to have a valid Helium wallet account and the buyer must have enough balance in their wallet account to pay for the transaction fee which is typically 55,000 DC.
- The Hotspot must be fully synced with the location asserted, and have recent network activity for the transaction to succeed.
- Recent Activity is described as witness, beacon, or challenger activity in the past 1200 blocks. This is to ensure the Hotspot is fully functional for the protection of the buyer.
Things to keep in mind: Helium assumes no liability on the functionality of Hotspot hardware defined in the Transfer Hotspot transaction. Buyers must verify with the Seller the Hotspot is in good, working condition and once transferred, understand there is no guarantee that the Hotspot hardware will arrive in working condition.
As a Seller, to initiate a Transfer Hotspot transaction:
Navigate to the Hotspot to transfer and tap Settings > Transfer Hotspot.
Acknowledge that you, the Seller, will no longer earn mining rewards from that Hotspot once transferred.
Enter the Hotspot name in the text field to confirm you want to transfer the Hotspot.
- You’ll see the payment user interface next. Enter the Buyer’s wallet address and a cost for the Hotspot (optional).
- Press Send Transfer Request and a notification will appear on the Buyer’s notification center. The Hotspot transfer will not complete until the Buyer accepts the transaction. Note: If you need to change the price, you’ll need to cancel the transaction. Please see the Cancel Transaction Section.
- Once the Buyer accepts the transfer Hotspot transaction, the Seller will receive a confirmation in their notification center.
- Once the transfer Hotspot transaction clears the blockchain, the Hotspot will no longer appear in the Sellers account.
- The Seller will see an activity entry on their Account page showing the Hotspot Transfer.
As a Seller, to cancel Transfer Hotspot transaction
- To cancel a pending transfer Hotspot transaction, go to the Hotspot, tap Settings, find Transfer Hotspot, and press Cancel
- Confirm that you want to cancel the transaction.
- The buyer will receive a cancellation notification and the Hotspot will remain in the Seller’s account.
If the Buyer attempts to view the original Transfer Hotspot transaction that's been cancelled, the app will let them know the transfer's been cancelled and the transaction is no longer valid.
As a Buyer, to accept a Transfer Hotspot transaction:
- Once the Seller has initiated the transaction, a notification will appear in the Buyer’s notification center.
- Tap on the notification to view the transaction.
- A payment user interface will appear with the Hotspot name, the amount requested, and the transaction fee. Also included is a “last activity reported” check. You want to see a very recent "last activity reported", not days, weeks, or months. This is a courtesy to illustrate the Hotspot was recently mining, but does not guarantee the Hotspot will arrive functional. Make sure this is a trustworthy Seller.
- Press Complete Transfer to submit the transaction to the blockchain. Note: The Buyer pays for the transaction fee and the Buyer must have a non-zero wallet balance in order for the transfer to succeed.
- Buyers will see a pending transfer Hotspot transaction on the Account page, and once cleared, the Hotspot will appear in the Hotspot list.
Can the price be zero?
Yes. The Hotspot price can be 0 on the blockchain if you’d like to complete the purchase using fiat (PayPal is highly recommended for Buyer protection).
Can I undo the transaction?
No. Once transferred, the Hotspot and its mining rewards moving forward belong to the Buyer.
Who pays for the transaction fee?
The Buyer pays for the transaction fee.
Is this available on the CLI?
Yes. Wallet CLI is available for this feature. https://developer.helium.com/blockchain/blockchain-cli
Can I change the price after sending the transfer to the Buyer, but BEFORE they accept?
Yes. Go to the Hotspot and cancel the transfer. Create a new transfer Hotspot request with the new price.
Will this be recorded in the blockchain?
Yes. Transfer Hotspot transactions are on-chain.
What if the activity check reveals the Hotspot hasn’t done anything recently?
You won’t be able to transfer the Hotspot.
I saw a transfer hotspot notification but when I open the app, it's not there. Where did it go?
If you are not on 2.8.0 or later, you will not be able to see the notification. Upgrade the app to 2.8.0 and try again.
If you're on 2.8.0 or later, you may need to sign out of the app and sign back in with your 12 words. Before you do this, make sure your 12 words are written down and correct. Verify on by tapping on More > Reveal Words in the app.
How do I make sure the Hotspot physically changes hands?
It is the buyer's responsibility to confirm the Hotspot is fully functional and will arrive in the same, working condition.
Do I need to be next to the Hotspot to transfer or receive?
No. You do not need to be physically next to the Hotspot as a buyer or seller to transfer the Hotspot.
Is the history of the Hotspot transferred to the new owner as well?
Yes. All mining history from the Hotspot will transfer to the new owner as well. This cannot be cleared as all history is from the ledger.
Will I be able to see the history of all transfers for a Hotspot in explorer?
Yes. Transferred Hotspots will show up as a transaction in Explorer.