Frequently Asked Questions
Please read our quick start guide for buying potcoins.
If you purchase potcoins using PotWallet, the potcoins will appear in your PotWallet account. From there you can easily send the potcoins to any Potcoin address, PotWallet user, by email or even to any mobile phone.
All Potcoin services are compatible with each other, so the same potcoins you buy from PotWallet will work in your favourite online Potcoin shops, and also in the local shops that accept Potcoin.
Please note that PotWallet cannot be used in some spefic cases. For example, you cannot use it with sites which return potcoins to you based on the sending address. Also, you cannot use PotWallet to receive newly generated coins from mining.
If you want to sell potcoins, you can simply open a trade to sell your potcoins. You can create multiple receiving addresses for improved privacy.
Type your city to Change location field and pick the nearest location from the list.
Currently we do not support changing usernames due to security reasons.
For security reasons we do not restore the user accounts. Please register a new user account.
Receiving potcoins from external accounts can take between 5-20 minutes. This is due to the network confirmations required.
PotWallet wallet uses three (3) confirmations.
Potcoin transactions are not reversible, thus if your user account is compromised you may lose your potcoins. Read PotWallet security guide for more information.
- Always enable two-factor authentication for your user account, so that in the case your computer or password gets compromised the malicious party cannot access your potcoins.
- Use strong password, with at least 10 characters
- Do not share the password with other services or persons
In the case you have an incident that someone else has accessed your account
- Change your password immediately
- Contact our support department immediately with details of the incident
Common issues and problems
Please check the email is correctly typed in your account profile. Also, please make sure you check your Junk/Spam folder to make sure the email didn't end up there. If you are still having issues, please contact support.
Some payment methods and banks (cash deposits, Western Union) do not allow you to set the reference message or number with the payment. Usually in this case you get a transaction id after the payment has been complete.
In this case, contact the the Potcoin seller through the trade messaging platform and give the seller the transaction id, so that the seller can use this transaction id to verify when your payment arrives the seller.
The sellers usually release potcoins as soon as they get the payment. Often there can be unexcepted delays with bank transfers and other online payment methods. You can keep in touch with the trader in in your profile Dashboard. You find your old Contacts there, grouped by Active (open trades), closed and cancelled. You can still message the seller even if you cancel your trade.
If you use the escrow feature, there is nothing to worry about. The page will clearly indicate if escrow is enabled or not.
If the seller is not responsive for 48 hours you can start a dispute and PotWallet support will look into the matter.
This concerns the cases where you are buying potcoins online.
After sending in a trade request, you have a time window of 90 minutes to complete the payment (payment window duration may vary depending on the payment method). During this time you need to complete your payment and press Mark Paid. Then, the seller is notified you made the payment and potcoins will be held for you in the escrow until the seller releases potcoins for you when seeing the payment on his/her account.
If you paid the purchase, but did not mark the payment complete before the payment time window expired, please contact the seller. The Potcoin seller has functionality to reopen the purchase. You can contact the seller and your other existing trade contacts under Dashboard in your PotWallet user profile. Send a message to the seller and kindly explain your situation.
Reopened purchases get escrow protection re-enabled until the seller can confirm they payment has succefully arrived.
If the seller does not respond to this request for 48 hours please contact PotWallet support using Support request form and mention your trade id number.
Sending potcoins to external accounts can take between 10-30 minutes. This is due to the network confirmations required.
The receiving party might require more confirmations to show the payment as received.
The receiving addresses can be used to receive potcoins to your PotWallet account. Note that it takes usually about 5 to 20 minutes for the potcoins to be confirmed. For privacy, you can request new addresses as you have used the old ones.
The address list keeps track on how many potcoins you have received to each address.
Check that the time of your authentication device is correct and try again. For Google Authenticator app you can find Time correction for codes option in Settings.
For paper-based two factor issues make sure you are typing only the six digits which are part of the two-factor code, not the digit from the first column which is the code counter.
When enabling two-factor you are asked to back up the mobile two-factor activation number on paper. Install the authenticator app on alternative device. You can also install it on PC too. Enter the activation number to Set up account menu in Authenticator app and then the Authenticator app will start yielding valid two-factor authentication codes again.
You can send only five trade requests per hour. If you have exceeded this limit you need to wait one hour before you can create additional requests.
First try reset password by email on reset password page.
In the case you have have forgotten and lost access to username, email and password which you have used with PotWallet, open a lost password support request and provide us information of:
- Account username
- Phone number
- Describe your latest actions on the site
- Provide your IP address you have used to access the site (http://whatismyipaddress.com/)
PotWallet transaction and escrow services
If you want to purchase or sell potcoins with bank transfer or other electronic payment methods without meeting the advertiser, the escrow service is here to protect you as a buyer or seller. It should be pretty fast as well - most sellers release the potcoins within 10 minutes, and you can use them right away.
Only the buyer can cancel the trade. PotWallet staff will handle disputes. Each successfull trade will build up your reputation.
Very safe. The potcoins are locked from the seller when they are in the escrow. The seller can only release them to buyer, or after 24 hours, file a dispute. Usually sellers strive to provide speedy service, and you will get your potcoins fast. Sometimes delays happen, depending on transfer method, and patience is required. However there isn't a risk that the seller can run with the potcoins. The seller can file a dispute, and then the PotWallet staff researches the case manually.
Advertisement prices are based on Potcoin exchange rates. The Potcoin exchange rate is volatile and may change rapidly. PotWallet updates its exchange rates and advertisement prices every five minutes.
When you open a trade request the exchange rate of the moment of sending the trade request is used. It may slightly differ what did you bid for, because the prices are constantly being updated. You see the used exchange rate in the trade discussion with your trading partner. If you do not accept the used exchange rate you can always cancel the trade.
When the price is floating, the purchased Potcoin amount fluctuates with the Potcoin exchange rate. The traded Potcoin amount is determined when the trade is closed, instead of when the trade is opened. This reduces market rate risks in local cash transactions where the time between opening the trade and closing the trade can be several days.
The floating price is based on current potcoin exchange rate variable. The seller can specify an additional margin on top of that.
Setting up advertisements
If you cannot find your exact location, please select the next biggest city around your location.
Some advertisements are marked as Trusted only. These advertisements are only available for your friends you have marked as trusted in PotWallet.
Making trusted people
To add people to your trusted list, you can invite your friends by email, visit their public PotWallet user profile or give trustworthy feedback after finishing a trade with them. You find people you trust under your profile.
Creating special deals for trusted people
To create a trusted only advertisement, check the option on the advertisement edit form.
The seller of Potcoins decides trust. For a selling advertisement, only people who you have marked as trusted can access it. For a buying advertisement, only people who trust you can access it.
PotWallet system fetches market data, currency and Potcoin exchange rates, every five minutes. Your advertisement prices are updated correspondingly.
Sometimes, especially when Potcoin price is fluctuating fast, advertisements with the same price equation may display different price due to the asynchronous nature of the process. Also, sometimes market data is not available for some currencies, which leads to delays updating the advertisement prices.
The price of the purchase is determined on the moment the Potcoin buyer sends in the trade request.
If there are issues with a trade and it cannot be properly cancelled or finished you can start a dispute. Dispute is available only for trades where escrow protection has been enabled (always enabled for buy/sell Potcoin online advertisements). In the case of a dispute, PotWallet support team manually resolves the trade.
Disputes are always specific to a trade where you are an involved party. A dispute can be started 24 hours after the buyer pressed Mark payment complete button or 24 hours after the escrow has been funded. After the payment window, Start dispute button appears on the contact page. You can find your old contacts from your profile page, under Dashboard.
A dispute can no longer be started if the Potcoins have been released from the escrow. The Potcoin seller should never the release escrow if they payment is not cleared. Transferring Potcoins outside the escrow is a risk: PotWallet support cannot examine and clear any issues on them.
Dispute case examples
- The Potcoin buyer claims they have paid even if the Potcoin seller has not received the money. It might be that the transaction simply takes longer than usual.
- The Potcoin buyer is not responsive, Mark payment button has been pressed. The seller's Potcoins are held in escrow. The PotWallet support team will manually check the case for potential abuse, and cancel the escrow if appropriate.
- The are issues with the payment: the bank account is temporary frozen due to money laundering and fraud checks. This may happen even if the transfer is legimate, as sometimes local regulation enforces banks to do this.
Only the buyer can cancel the trade. PotWallet staff will handle disputes. Each successfull trade will build up your reputation.
Only your trading partners can change the feedback they have left. If you believe the feedback has mistakes you can contact your old trading partners through Closed contacts in your Dashboard and ask them to change the feedback..
PotWallet team never edits the feedback left by users.
Feedback from the banned users is automatically removed.
You can send Potcoins to anyone in the world from your PotWallet account. We provide you 4 ways of sending potcoins.
Potcoin transactions are confirmed by the Potcoin network. Each individual computer in the Potcoin network confirms the transaction, increasing the total confirmation count of the transaction. When the confirmation count of the transaction reaches a certain threshold, usually 3-6 confirmations, the transaction appears in the receiving wallets. Reaching six confirmations usually takes 5-15 minutes and you can follow the status of the transaction in various services, as described below.
To check the status of your Potcoin transaction
- Simply check your transactions page in your PotWallet to see the payment status and number of confirmations.
- Click on Edit > View Details to view your transaction on the block chain.
- You cannot find the transaction: the transaction never left from the sending wallet. Contact the provider of the sending wallet.
- 0-3 confirmations or unconfirmed: the transaction has left the sending wallet and is still under way.
- More than three confirmations: the receiving wallet should have received the transaction. Please contact the provider of the receiving wallet if the transaction still does not appear in the receiving wallet.
Potcoin network transaction fee affects how fast confirmations are registered by the Potcoin network. PotWallet reserves this fee from your wallet.
Potcoin transactions are irreversible, so once a transaction is initiated, there is no way to reverse it. Therefore you should investigate who owns the address and where did you get that address in the first place. Please note that same wallet can have multiple incoming addresses. Potcoin protocol ensures that Potcoins are not sent to address which does not exist, but they can be sent to address which is inactive or not controlled by anyone.
I see there are outgoing transactions from the Potcoin address where I sent potcoins, not done by me
PotWallet is a web wallet. The Potcoin transactions of sending and receiving Potcoins are not connected to each other. If you are looking for your PotWallet Potcoin address status in https://chainz.cryptoid.info/pot/ or other Potcoin transaction exploration service, you may see unrelated transactions from your Potcoin address.
This is how web wallets operate. You cannot make connection with incoming and outgoing transactions for the same Potcoin address.