As approved by HIP13, the engineering team has finished the implementation of Transfer Hotspot, allowing any Hotspot owner to transfer ownership of a Hotspot to a new owner. The full help documentation can be found here: https://docs.helium.com/wallets/app-wallet/transfer-hotspot/ and CLI support here: https://developer.helium.com/blockchain/blockchain-cli#hotspots-transfer
To successfully transfer a Hotspot, both parties must have app version 2.8.0 installed. Sellers and Buyers do not need to be physically next to the Hotspot to transfer.
How It Works
As a seller, the user navigates to the Hotspot to be transferred and taps Settings (cog). In the settings is a new option to Transfer Hotspot. Press “Start”.
A message will appear letting the seller know they will no longer see the Hotspot in their app or earn HNT from mining. Enter the Hotspot name to proceed. This is not case-sensitive.
At this point, the user is asked to enter the buyer wallet address (note that the buyer must also have a valid wallet address on the Helium network). The amount in HNT is optional. This allows for other methods of payment using fiat (PayPal, other cryptocurrencies).
The seller confirms the transfer and a partial transaction is constructed and signed by the seller.
The buyer receives a notification in their Helium app and views the transaction to confirm a) seller address b) Hotspot name c) last reported activty on the blockchain and d) cost of Hotspot.
When the buyer accepts the transfer, the transaction is countersigned by the buyer and the fully constructed transaction is submitted to the blockchain.
After the transaction clears, the Hotspot will appear in the new owner’s account and the HNT (if any) is debited from the buyer’s balance. The Hotspot will be removed from the seller’s account, and all new HNT earnings will belong to the new owner.
Note: 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.
It is up to the buyer and seller to coordinate the physical exchange of the Hotspot.
Canceling a Pending Transfer
A seller can cancel a pending Hotspot transfer by going to the Hotspot settings and tapping “Cancel” next to Transfer Hotspot. The buyer will receive a notification that the transfer has been cancelled.
Things to Keep In Mind
It is the buyer’s responsibility to confirm the Hotspot is fully functional and will arrive in the same, working condition.
The buyer must pay the transaction fee, even if the cost of Hotspot is zero.
Transaction Screen spacing
Some device screens may see more or less spacing on the Transfer Hotspot transaction screen.