FAQ
Cryptocurrency is a digital asset people use as money. It uses blockchain or a decentralized (not run by any single entity) tech to record and manage transactions. There are many types of cryptocurrencies out there, and they are referred to as tokens. Like real money, you can exchange them for goods and services.
An NFT (Non-Fungible Token) is a non-interchangeable unit of data stored on a blockchain that can be sold or traded. Many types of NFT data units may be associated with digital files such as photos, videos, and audio.
A blockchain is a digitally distributed ledger that facilitates the process of recording transactions and information across a network. You can think of it as a decentralized or distributed database.
NFTs are often criticized for their carbon emissions due to how much power they use. However, ViciNFT is carbon neutral, and each sale has an additional donation, which goes towards charities that can help with environmental issues.
Digital wallets are software used to communicate with blockchain networks to safely access, send, and receive crypto funds or assets (NFTs). The software stores your NFT just like traditional wallets store your cash and credit cards.
Here are some tips on how to minimize your risk of being hacked: Never give out your 12-word seed phrase. Your password should be made up of a complex combination of letters (upper and lowercase), numbers, and symbols. Don’t store your password or seed phrase on your computer. Instead, you could write them down on paper and keep them in a safe place (but not so safe that you forget where you put them). A VPN can add a level of security by hiding your IP address and encrypting your internet traffic.
Your wallet address, known as your “public key,” is unique. It’s the address people will use when sending cryptocurrency and NFTs. Your NFTs and cryptocurrency are on the blockchain under your wallet address. Your software or hardware wallet only contains the key to that address.
OpenSea.io is an online marketplace that allows users to purchase, sell, and trade non-fungible tokens (NFTs). Users can transact various digital collectibles, including art, music, domain names, trading cards, and dozens more.
1. Go to the store’s website where you purchased your NFT.
2. Select the website’s menu option “Connect Wallet”.
3. Enter your mobile phone number.
a. Use the phone number associated with the purchase.
b. Enter the SMS code to verify your account.
You will now be able to view your NFT.
Please check your spam and promotions file in your email for an email provided by ViciNFT. This email will include instructions on setting up your Fortmatic Wallet and minting your NFT. If you have not received this email, please contact us at support@vicinft.com.
Instructions For Desktop:
1. After setting up your wallet, go to OpenSea.io and click on the wallet icon in the top right of the screen.
2. Choose ‘Fortmatic’ and log in using the same email as the one you used to create your wallet. Follow the prompts to connect.
-Important: Fortmatic will send you an email to verify your account. It may take up to a minute to receive this email in your inbox. Leave OpenSea open when checking your inbox and return with the code.
3. Select your top right profile icon and click on your center screen ‘Hidden’ tab to view your NFT.
Here is an instructional video for desktop.
Instructions For Mobile:
1. After setting up your wallet, go to OpenSea.io and select the top-right menu icon.
2. Choose ‘Fortmatic’ and log in using the same email as the one you used to create your wallet. Follow the prompts to connect. Important: Fortmatic will send you an email to verify your account. It may take up to a minute to receive this email in your inbox. Leave OpenSea open when checking your inbox and return with the code.
3. Tap on the top left arrow, then ‘Account’, and then ‘Profile.’ Once you are in your profile, swipe left above ‘Collected’ until you see ‘Hidden.’ Tap on ‘Hidden,’ and you should now be able to view your NFT.
Here is an video for mobile.
If you have not already, import your wallet to your desktop and mobile device.
Instructions For Desktop:
1. After setting up your wallet, go to OpenSea.io and click on the wallet icon in the top right of the screen.
2. Select your wallet; if you provided a MetaMask wallet address, you choose ‘MetaMask.’ Follow the prompts in the pop-up to connect.
-important: If you do not see a pop-up, please check your browser’s extensions for a notification from your wallet and select it. If you are still encountering issues, refresh your page or save your wallet’s recovery phrase and uninstall, then reinstall your wallet and attempt to connect to OpenSea again.
3. After connecting, head to your profile in OpenSea to view your NFTs under ‘Hidden.’.
Here is an instructional video on how to connect to OpenSea for desktop.
Instructions For Mobile:
1. Download the OpenSea NFT marketplace app on your mobile device.
2. Open the OpenSea NFT App and select the bottom right profile icon.
3. Then, select your wallet; if you provided a MetaMask wallet address, you choose ‘MetaMask.’ Follow the prompts to connect.
Here is an instructional video for mobile.
You will receive a unique digital asset, an NFT. Your purchase will also include ViciNFT’s crypto charity token, the Vicinity Token! Be sure to read the NFT description for further details and offerings, as some may include physical items such as artwork.
Watch for an email from support@vicinft.com with instructions. Please check your junk/spam and your promotions tab if you don’t see the email.
ViciCoin (VCNT) can be used to purchase a wide range of premium content and services, such as access to an exclusive Zoom call or the ability to view a video library. As the ViciNFT community grows, there will be many ways to spend!
Fortmatic Wallet – mobile and desktop
1. Go to www.opensea.io in your web browser, and connect your Fortmatic Wallet.
2. Click your wallet number to copy the wallet address.
3. Open www.polygonscan.com.
4. Paste your wallet address into the search field and click search.
5. Scroll down to the Overview section until you see “Token.”
6. Select the Token dropdown to view the ViciCoin (VCNT) in your wallet.
MetaMask Wallet – Mobile
1. Open the MetaMask app on your mobile device and log in.
2. Open the Menu by clicking the three horizontal lines on the top left of the screen.
3. Click Browser, and go to https://vicicoin.io/configure-wallet.
4. Scroll down the page until you see the “Activate Wallet” button.
5. Click Activate Wallet.
6. Follow the on-screen prompts to approve and allow the network change and add tokens.
a. The number of on-screen prompts will vary depending on the mobile device and security settings.
7. Open the Menu by clicking the three horizontal lines on the upper left.
8. Click on Wallet.
9. Now, you see ViciCoin (VCNT).
MetaMask Wallet – desktop
1. Go to www.opensea.io and connect your MetaMask wallet.
2. In a separate browser tab, open https://vicicoin.io/configure-wallet.
3. Scroll down the page until you see the “Activate Wallet” button.
4. Click Activate Wallet.
5. Follow the on-screen prompts to approve and allow the network change and add tokens.
6. You can now view your Vicinity Tokens in your Wallet under “Assets.”
Airdrops are free collectibles or bonus NFTs offered by creators to either generate interest in their project or reward existing users. An airdrop may be a reward to a project’s existing community, for example, or it may be in return for writing a post on social media talking about the project. Either way, the effect is always the same – you receive NFTs for free by meeting certain criteria.
Another way to refer to a digital collectible or token.
The blockchain is a distributed digital ledger that stores data across a global network, making it publicly verifiable and unchangeable rather than centralized or controlled by a single entity. Blockchain is the technology used by cryptocurrencies to allow secure transactions to take place. Because the Bitcoin blockchain is a public record of all transactions accessible by anyone at any time, it is not truly anonymous. Instead, the transactions in the blockchain are encrypted with public key cryptography that masks the real identities of the individuals behind the transactions.
Think of it as an open spreadsheet that everyone in the crypto world has access to, and it records any changes or transactions. It’s where users can verify ownership.
The abbreviation for Bitcoin.
A coin is a digital medium of exchange in the form of cryptocurrency. It can be held as a form of stored wealth, such as Bitcoin, or can be used to transfer value from one person to another. In contrast, a token (see below) is a cryptocurrency primarily used to access services on a specific network or as a record on a blockchain that proves ownership of a digital asset.
Short for cryptocurrencies.
Any form of currency that only exists digitally that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.
The dispersion or distribution of functions and powers/not run by any single entity.
The initial launch of a new collection or project.
An NFT drop refers to releasing a new NFT project to the public, typically in an NFT marketplace. A token drop refers to the release of a new digital token distributed to a project’s stakeholders or made available for sale to investors.
ETH is Ether, which is the native currency of the Ethereum blockchain. Ether is Ethereum’s native cryptocurrency. Bidders on NFT marketplaces often purchase digital goods using ether, often abbreviated as eth. Transaction fees may differ by computational complexity, bandwidth use, and storage needs.
Any form of currency that a government backs as legal tender. This includes money in circulation, such as paper money, coins, or any liquid currency. You probably don’t need to know this unless you listen to podcasts about crypto.
Derives from the Latin verb fungi, meaning “to perform” (no relation to the noun fungus and its plural fungi)—is a word that often shows up in legal and political contexts. Something fungible can be exchanged for something else of the same kind. For example, when we say “oil is a fungible commodity,” we mean that when a purchaser is expecting a delivery of oil, any oil of the stipulated quantity and quality will usually do. Another example of something fungible is cash. It doesn’t matter what twenty-dollar bill you get—it’s still worth the same amount as any other twenty-dollar bill. In contrast, something like a work of art isn’t fungible; a purchaser would expect a specific, identifiable item to be delivered. In broader use, fungible can mean “interchangeable” or sometimes “readily changeable to adapt to new situations.”
Interchangeable and tradable tokens, such as ETH and BTC.
Gas is the amount (in native cryptocurrency) required by the network for a user to perform cryptocurrency transactions on the blockchain. For example, you’ll need to pay gas in ETH when you interact with the Ethereum network.
A hash is a fixed-length alphanumeric string of randomized letters and numbers used to represent words, messages, and data of any length. In the blockchain world, any data stored on a blockchain may be called a hash. Hashing refers to the process of running cryptocurrency transactions of varying lengths through an algorithm to obtain a fixed-length output.
The metadata of an NFT is the necessary and unique data that makes up the NFT and defines how it looks.
A free and widely used browser wallet (also available as a mobile app) that allows users to store and swap crypto and interact with the Ethereum blockchain and other dApps/ MM is the shorthand for MetaMask.
When you’re buying a completely new NFT from the creator, you’re ‘minting’ it. It’s basically the process of creating that NFT on the blockchain.
An NFT (Non-Fungible Token) is a non-interchangeable unit of data stored on a blockchain that can be sold or traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio.
One of the many NFT marketplaces dominating the industry, where users can mint, sell and trade NFTs.
A term used to describe decentralized platforms, such as NFT marketplaces, meaning no individual or organization actually owns it.
A secondary scaling solution on the Ethereum blockchain that provides cheaper, faster, and more secure payment transactions.
A private key is a variable in cryptography that is used with an algorithm to encrypt and decrypt data. In cryptocurrency, private keys are also used to sign transactions and prove ownership of a blockchain address.
Similar to private keys, it’s a cryptographic key that gives others viewing access to your wallet or NFTs. But unlike private keys, it doesn’t need to be kept secret.
After an NFT is minted, it can be sold or purchased on the secondary market, such as OpenSea.
A smart contract refers to a self-executing software program or transaction protocol that runs autonomously and aims to automatically execute, enforce, or document legally relevant events and actions according to an agreement between buyer and seller. Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman or external legal system.
In the context of the cryptocurrency industry and NFTs, a token is a record on a blockchain that gives its owner the right to a certain amount of digital currency or the right to do certain things with the asset. Think of it as a digital certificate of authenticity. Often, a token is used to facilitate or represent a transaction. There are different types of tokens, including social, utility, and governance tokens, and each affords a different set of rights or assets. On the blockchain, tokens are typically represented as long lines of randomized letters and numbers called hash. The value of a token rises or falls based on the demand for the services that the token grants or the asset that it represents.
A wallet, or cryptocurrency wallet, is a software application that serves as a blockchain-secured bank account for your cryptocurrencies and, increasingly, as a safe encrypted place to access your NFT assets, such as digital art.
Your wallet address is the hash — or randomized string of letters and numbers — that you enter to send or receive cryptocurrency, cryptocurrency tokens, or NFTs. Cryptocurrency wallets enable you to send and receive digital assets securely. Think of your wallet addresses as your bank account numbers and routing numbers/SWIFT codes all rolled into one long string of characters.