So you’ve found Note Blockchain on the iOS or Android store and you are curious about the cryptocurrency side of it. What can you do with this “note coin” and is it worth anything? Can you buy more of it? Can you earn it in other ways?
I aim to explain the basics of cryptocurrency and Note Blockchain.
What can you do with Note coin?
Well, anything you can do with regular money. You can give it away, you can horde it, you can spend it, you can barter with it, you can trade for other money and you can tip others on the Note Blockchain app. There is also a Note Desktop Wallet that’s perfect for storing large amounts of your note for safe keeping or for trading on an exchange, like unnamed.exchange
Lets start by setting up a Windows/Mac/Linux Desktop Wallet
To download the Note Blockchain wallet for your computer head on over to Github here.
You will notice there’s a few different files to choose from on this page. If this is your first time using a Windows desktop wallet, you’ll want to use “win64-notecoin-qt.exe”
After you have your wallet opened up, you’ll notice its “syncing” This process is downloading the blockchain, it shouldn’t take too long!
Once the wallet is caught up, you should see something like this:
Here we can see the basics of the wallet, our balance, pending balance, and the send and receive tabs.
Lets see how to send Note to anyone else via Note address, whether they are using the Note app or the desktop wallet. First you’ll need your friends note address
Next we paste the address into the “pay to:” field. I always check the first and last letters to make sure it matches. Addresses are case sensitive and sent funds cannot be retrieved. Make sure you copied the address exactly as it was sent to you.
In the Transaction Fee field you should use the recommended settings. You can change the Confirmation Time target and potentially save a bit on fees, but its best to make sure your transaction is sent on time, if you pick too low of a fee your transaction could get stuck.
This your last chance to check the address. If it looks correct select yes and your funds are off into the ether!
Now if we navigate to “Transactions” we should see a page similar to this
The Question mark next to the first transaction signifies the transaction has been broadcast, but not confirmed.
The clock on the second transaction means the transaction is in the process of being confirmed
The check mark means the transaction has been confirmed!
Okay cool, its easy to give away your Note, but how can you get it into your wallet in the first place?
Lets head on over to the receive tab
Here we can create a generic address for us to receive our Note. There are virtually an unlimited number of Note addresses that can be created, so go wild! You can create a new address for each payment or as a way to keep track of certain payees. To create a new address you can type in a label or leave it blank and select “request payment”
Here you can see I’ve created a new address with the label “guideexample” to keep track of the address. You can copy your address from this screen, and can continue to use it for as long as the network is active.
Now that the new address is created, it can be retrieved again by double clicking the label and the previous screen will appear again.
Okay, so we have our Note, we know how to spend it, now how can we protect it?
Lets encrypt our wallet so that way a password MUST be entered to send any funds.
Okay, so I am the type of person who reads “write down your password” and laughs because I’ll remember my password (actually probably not), but seriously, write this one down. Just google “locked out of my bitcoin wallet” and see how much money people have lost due to forgetting the password they’ve used to encrypt their wallet. There is no way to get your funds out without the password, so please take it seriously! Don’t Forget to store it somewhere safe as well, remember it unlocks all of your Note funds!
To begin: select Settings and then “Encrypt Wallet”
Follow the above guidelines and your funds are now SAFU.
Alright, so now you have a bunch of numbers in a wallet, what good are they?
Well, aside from the aforementioned uses, Note can be traded for Bitcoin, and Bitcoin sold for Money straight into your bank account. Using an exchange can be a bit daunting and I have a great YouTube Video going over how to use Unnamed.exchange below.
To sell your bitcoin, if you’re in the United States at least, I recommend Cash App, You can sign up here and get $5 if you don’t already have the app.
So aside from that what else is there? Honestly it’s up to you. Cryptocurrencies excel when their communities come together to make interesting and new applications. From twitter tipping bots to full on games built on a block chain, the possibilities are honestly endless when it comes to the uses for the open-source application. So are the ways to earn Note, right now you can earn Note from tipping in the application but you can also earn Note from mining, you can find my guide on how to mine note on any computer here