Tutorial Course’s Docs Faircoin wallet tutorial for MAC

faircoin

To receive, store, and send your faircoins you can use the official faircoin wallet. Here’s how to install it and use it.

Install and run on MAC

Download Faircoin.dmg file (look at the download pile to find the file)
Open dmg file and drag and drop Faircoin icon to the desired final location (i.e. Applications folder). It may ask you to accept opening files downloaded from the internet.
Run the application for first time, and be patient, because the first time the application will download the blockchain index. It may take 30 minutes or more depending on your connection speed.
You can encrypt your wallet in the top menu “Settings” options. Remember your password!!!
You can also find there the “File” menu options with Back up, etc…
If you want to change your firewall configuration, go to “System preferences” in the Deck (bottom menu icons)
Select “Security and Privacy” icon
Add “Faircoin wallet” as one of the applications where incoming communications are allowed. You may need to unlock first entering your administration password to change this setting.

5. ENCRYPT! –> It is highly recommended to encrypt your wallet to save your coins from unauthorized access. To do so, go to Settings > Encrypt wallet. Enter a passphrase of at least 10 random characters or 8 words.

WARNING If you forget your passphrase YOU WILL LOSE ALL YOUR COINS. See here for assistance on how to create a secure password: How you can create a secure password you can remember.

Features

Overview

wallet_overview

Here you can see your balance and recent transactions. At the bottom you will see a progress bar: the wallet will automatically download the whole faircoin blockchain to your computer. When the download is complete, the ‘out of sync’ message will dissapear, and wallet_check will appear on the right bottom corner.

Send coins

wallet_send

* Pay To: Choose a recipient address. You can enter it manually, wallet_paste paste it from clipboard or wallet_paste choose one from your address book (see below).

* Label: Name your transaction so you will remember it in the future.

* Amount: enter the amount to send, and choose FAIR, mFAIR or uFAIR (1 FAIR = 1000 mFAIR = 1000000 uFAIR, so BE CAREFUL).

Once you filled in the three fields, press w_b_send.

Receive coins

w_receive

1. Choose an existing address, or w_new create a new one. You can label it if you want.

2. w_b_copy Copy it to the clipboard, or w_b_qr generate a QR code, which will be unique for that particular address.

3. Email the address or QR to your customer, tweet it, print posters and cover your entire neighborhood with it… This address is PUBLIC, so don’t worry about anyone seeing it.

You may use a different address for each transaction, or for each type of transactions, or just one for everything. It’s up to you!

Transactions

w_transactions

Here you can keep track of all your sent or received coins. You may sort transactions by date or type.

Address book

Here you can store addresses (dah!).

Minting

You can participate as a faircoin active node anytime by using the software on your computer, waiting for 21 days, and then start minting (POS). Meanwhile, you can participate by mining (POW).

After 21 days, if your coins haven’t been moved from your wallet, you can begin contributing to the network with POS. At that moment your wallet will begin to have a chance of minting.

Wallets with the most faircoins are likely to find a block faster. Another factor affecting the chances of finding blocks is the concept of “age”, which makes minting probability grow each day after day 21, up to day 90.

Notice that once you discover a new transaction block, its minting status is set back to 0 and the process starts over.

To mint your coins, or to check your minting probablility, first go to Overview (see above) and unlock your wallet by pressing the Unlock Wallet button. Note: you need to have your wallet encrypted first (see above). Then go to Minting:

PantallazomintingHappy minting!

Read more about faircoin, minting and Proof-Of-Stake

Backup

Please note that it is very important to backup your wallet on a regular basis. You can do this by selecting File > Backup Wallet, then save your wallet backup file in a safe location.