What’s the difference between a Wallet Address and a Private Key? + More FAQs
If you’re familiar with the AppCoins Universe, you probably have an AppCoins Wallet! It’s necessary to make purchases in AppCoins-enabled apps, it’s the place where AppCoins Credits are stored, and where users can see their whole transaction history.
That said, there is a lot more to the AppCoins Wallet than you might think, so we came up with these FAQs to help you understand everything there is to know about this app.
Why do I need an AppCoins Wallet to make in-app purchases?
AppCoins-enabled apps need the AppCoins Wallet to process all transactions. This app is also where you store AppCoins Credits which can be earned as rewards and bonuses.
Where can I find the AppCoins Wallet?
What’s the difference between Wallet Address and Private Key?
The wallet address is the unique identifier of your Wallet and it is composed of around 25–30 alphanumeric characters. A Wallet Address can only be used to make transactions into such wallet, so it’s safe to share with other people for them to make a transfer to your wallet.
On the other hand, your Private Key is the set of numbers and letters that allows you to access your wallet. This will be needed to recover your wallet in case you lose or change your phone, so it’s extremely important you store it well to guarantee no one can access your wallet.
Where can I find my Wallet Address?
You can find your wallet address by opening the AppCoins Wallet and tapping on ‘Receive’. You can also use the QR code to scan your wallet address to other devices.
What is a Key Store?
The Key Store includes your Wallet Address and your Private Key. It may or may not be encrypted by a password chosen by you (password is optional).
How and why should I store/backup my Key Store?
To store your Key Store go to ‘Settings’, choose ‘Wallet’ and tap on the download icon identified with an arrow. Remember to keep it in a safe place to avoid anyone else from accessing your wallet. Best practices include not storing it in the cloud and not sharing it online.
What happens if I lose my phone?
If you have a backup of your Private Key, go to ‘Settings’, choose ‘Wallet’ tap on the ‘+’ sign, and choose ‘Already have a Wallet’ option. Then, insert your Private Key (please note that the password is optional). You can also backup your wallet using your Key Store.
How can I verify my wallet?
You can verify your wallet by going to ‘Settings’, clicking on Verify Wallet and following the next steps.
I can’t use my phone number to verify my wallet, what now?
If a verification process, for whatever reason, is interrupted and the verification does not go through, you must wait a total of 7 days before you can use that phone number to verify your wallet.
How many AppCoins Wallets can I have?
You can have multiple wallets but you can only verify one of them.
Why can an AppCoins Wallet get blocked?
If we believe that you have violated our Terms and Conditions, your AppCoins Wallet will be blocked.
What happens to my AppCoins Credits if my wallet gets blocked?
The AppCoins Credits will also be blocked and the user will not be able to use them anymore.
Can my Appcoins Wallet be unblocked?
Once a wallet has been blocked, it cannot be unblocked. You will need to create a new wallet and wait one week to validate it.
You can find more information on the AppCoins Wallet, including how to install it by visiting this post.