Frequently Asked Questions

How does the wallet work?

I sent coins to my wallet, why doesn't the balance reflect the new coins right away?

on top of

Under the "New" pulldown - what is all that?

Explain the security of this service

What is the brain wallet or custom seeds?

Why do you not use 2FA (2 Factor Authentication) anywhere on the site?

Can I use this service for educational purposes?

What is the charge for this service?

Any additional questions...

Some common questions about this service, and cryptocurrencies in general:From our Wallet Page , for your first time, just pick a username and password and enter those in to create your wallet. Remember those values because you need to use the same values every time you want to re-access your wallet. It will create a single Ritocoin address that you can share with others for them to use to send coins to you.When you first create the wallet, it will show a balance of 0 RVN. Send some coins to the address shown, and some time later you can click the "0 RVN" button to tell it to refresh the balance to get the latest information on how many coins you have.You can send money out from that same page by clicking on the Spend link. Enter the recipient address and how much you want to send, and optionally change the fee that will be spent, and you're all done.Blockchain based coins like Ritocoin operate like a ledger. Coins that are "sent" are actually transactions in the ledger, giving control of the coins from one key over to another key. This information is recorded in "blocks" that are mined by miners. Your transaction will (usually) be included in the next block that the network mines, but it will not be immediately available. It is required that at least 6blocks be minedthe block containing your transaction, before that transaction is deemed "confirmed" and spendable. The network finds blocks on average every 60 seconds, so you shouldn't have to wait more than 6 minutes or so before your transactions are confirmed.tldr: It might take up to 10 minutes before transactions involving your balance are updated.Those are features available for advanced users who understand cryptocurrencies, and wish to interact with the Ritocoin blockchain without operating a full node of their own.You can create a new address, create transactions from that address, verify, sign and even broadcast them, all from this website. Seriously, how cool is that? One of the best features is the multi-signature addresses. You can use that to involve a third party mediator when sending funds to an untrusted person. You can send coins, and if the other guy doesn't live up to their side of the bargain, you and your mediator can simply reverse the transaction.First, we log almost nothing. We have a basic web server that logs hits to the site, but your IP address is not included in those logs. We see when someone visited the page, but that's about all we see. The server is hosted on a rackmounted colocated server that we physically control somewhere on the planet earth, and it has a self-signed SSL certificate for this domain. CloudFlare is setup to provide service to our domain, and the SSL settings are set to full. CloudFlare only accesses our server using SSL, and of course, it delivers the content on to you using their own signed SSL certificate.The weak point to the security of this service is you and the computer you use to access this service. Your keys are generated within your browser. Our server never sees your keys. If you are interested in confirming that, you can simply view source on this website, and check out our .js files. There are a few calls to PHP scripts on our server that do things like get balances and broadcast transactions, but you will see that the private key is never sent to those scripts.It is your responsibility to ensure that you do not have malware that is reading keys from your browser session or from your cache. It is also your responsibility to record your keys in a safe place, so that you do not lose your funds. There is no guarantee that this service will always be available to you, so keeping a personal record of your keys will ensure no loss of funds should our service be interrupted or discontinued. If you lose your keys, or forget your password, it is literally impossible for us to help you recover them.That is where you can create an address using a special seed that it uses to generate the public and private key pair. Keys created using these seeds will always produce the same key, so it's a convenient way for you make keys using phrases that you might be able to memorize.So say you want to be able to make a key and not record it. You could make a key using this seed being a very long and random set of words that you then memorize. Later on you can reproduce that key using those words.Obviously, anyone who knew your phrase would be able to make the key, as well, so the security of the key is only as good as the complexity of the words/phrases that were used to generate it. There are a number of fun things you can do, such as hide a key behind a well known phrase, song lyric, or answer to a riddle.The Ritocoin Web Wallet was designed to be used in such a way that no information about the user is stored on our server. 2FA would require us to maintain a database of information about our users that they would authenticate against, and therefore goes against the design principles of the service. We do not store any information about you, and therefore as far as we know, it is not possible to use 2FA with our service. If anybody knows of a way for us to provide 2FA without requiring us to store information on the user, we'd welcome that information. See below on how to contact us.Absolutely. If you are an educator, you can find great value in leading your students through exercises involving this website. They can all create keys, verify transactions, and broadcast transactions to each other. As the teacher, you could set aside a small number of Ritocoin funds to distribute to your student's keys so they have some money to work with. Cryptocurrency is here to stay and if you have students in your care, Ritocoin is a tremendous resource to help them learn some of the more inner workings of how the blockchain transactions work.It's a free service, provided by Ritocoin community member @traysi.Feel free to email [email protected] with any additional questions, or better yet, join the Ritocoin discord group and tag me there (@traysi) in the #helpdesk channel.