Frequently Asked Questions
chevron_rightWhat's the difference between a Bitcoin wallet and a Bitcoin Segwit wallet ?
With your qoin.farm account, you can create only one wallet per currency, except for Bitcoin. When you create your first Bitcoin wallet, it's a Bitcoin Segwit wallet by default, meaning the wallet deposit address is a "native Bech32" Segwit address, for instance bc1q5zkj69zrgq5dfyf9p0jzw2cxe5h957lkuj7slw.
But qoin.farm will let you create a second Bitcoin wallet that's going to be a "legacy" Segwit address like, for instance, 3EDAp4a6kB1P9rzxQwbAojeaZMUf2SNKUv.
The only reason you might want to create a "legacy" type Bitcoin wallet is when the wallet you are using to deposit bitcoins does not support yet the new "Bech32" address format.
chevron_rightWhat's a NFT ?
NFT stands for Non Fungible Token, meaning a token that cannot be split and combined with other tokens to make a payment like you would with fungible tokens.
Typical examples of NFTs are Crypto Kitties or any collectibles like "pokemon cards".
When supported by the Ethereum network, NFTs are sometimes referred to as ERC-721 tokens since they usually comply with the ERC-721 standard.
chevron_rightWhat's an ERC-20 token ?
Tokens on the Ethereum network are sometimes referred to as ERC-20 tokens since they usually comply with the ERC-20 standard.
The ERC-20 standard defines a set of instructions that the Ethereum smart contract governing the behavior of the token must respond to.
These instructions or "calls" include, for instance, displaying the total supply of tokens or transferring tokens from one Ethereum address to another.