If you’re looking to learn about eCash, the first thing you need to do is learn how to use an eCash wallet. While there are many different eCash wallets to choose from, each with different feature sets, there are only a few basic functions that really need to know and will find in any non-custodial wallet. For the purposes of this article, I will use the Cashtab.com wallet to walk you through each one and explain how they work.
Backing up your wallet:
Every non-custodial wallet offers a way to back up your private keys. This typically comes in the form of a 12 word seed phrase (or a 24 word seed phrase in the case hardware wallets like Trezor and Ledger). Below is a screenshot of the back-up screen found under the settings page of the Cashtab wallet. As long as you have your seed phrase, you will be able to access your wallet. But that also means anyone else with your seed can access your wallet as well, so keep them stored in a safe place, preferably offline. Don’t take this stepfor granted because losing your seed can mean the loss of your funds without any hope of recovery.
Importing your seed:
In the event your device is broken or lost, it’s easy to recover your eCash wallet simply by entering your seed on a new device. Please note seed words are always in English and come from a list of 2048 words known as the BIP39 word list. Be sure the words are all in lowercase letters and spelled correctly. Different wallets can also use different derivation paths so be sure you are using the right one or you may not see your funds. You can try importing the seed from above in a Cashtab wallet on your own device.
Every eCash wallet gives you the ability to send XEC by either by pasting an address or scanning the QR code of a receiving address and entering how much you wish to send. Most wallets will also include a Send Max button allowing you to send all remaining funds as well as the option to switch between denominating in XEC or your local currency. Keep in mind that in addition to the amount you’re sending, there will also be a transaction fee associated with every transaction. These fees can vary depending on the complexity of the transaction itself but are generally ~5 XEC or less.
In order to receive XEC, all you need to do is share your receiving address by either copying and pasting the address itself or a QR code of the address.
Backing up and importing a seed, as well as sending and receiving are but the most basic functions of an eCash wallet. As you play around with the different wallets available, you will discover how versatile they are. I highly recommend familiarizing yourself with all the various features so that you’re better prepared for an eCash future.
Chance to win 10,000,000.00 XEC
Below are clues to a 12 word seed phrase. The first person to correctly guess the right words will be able to access the 10M XEC stored in this address:
For those who are new to this, remember that simply unlocking the wallet is not enough. As soon as you access the funds, you must move the coins to your own wallet before someone else unlocks the wallet and moves the coins themselves. Keep in mind that you may incorrectly guess the seed to other wallets, but do not fear. Just because you happen to come across another seed does not mean you need to worry about the security of eCash wallets (or Bitcoin wallets since both chains use the same security mechanism).
The number of possible addresses is so large that while you may stumble across the keys to a random wallet, it will not be one that holds any funds. There are approximately 1.46 x 10^48 possible addresses. Assuming roughly a billion addresses have been used so far, that means you have a 0.000000000000000000000000000000000000068% chance of randomly unlocking a wallet that has previously been used. That means even if you found a trillion times a trillion times a trillion valid seeds, the chance that one of them was previously used would still only be 0.068%.
I tried my to make the clues hard enough so that you can’t just input them in ChatGPT and come up with an answer, but possible for a person to find the solution without using a computer. This will definitely not be easy, but if someone is willing to put in enough time, I’m confident it’s solvable. Apologies to my non-English speaking readers but BIP39 words only come in English.
Looking forward to seeing how long this takes. No additional clues will be provided and you can always check the XEC blockchain to see if anyone has solved it using the address shown above. Remember, this is meant to be for fun. If you think it’s too hard, don’t play.
- 7 letter word that can be both a noun or a verb ending in a 4 letter word that can be a noun or a verb
- Last four letters of this word spells a body part
- This word can be found nine times in POW#155
- Professional athletes often have this
- Something we all have but can’t always control.
- 6 letter word that can be both a noun or a verb ending in a 3 letter word that we often associate with eCash
- This word has 3 e’s in it and is one that often comes up in sports
- Name of a competing cryptocurrency project
- Word that often comes before 8 above
- 4 letter word that also forms an animal related word if spelled backwards
- Mix up the 5 letters in this word and you get another word that is often used in sports
- Something needed by both comedians and builders
BIP39 word list: https://github.com/bitcoin/bips/blob/master/bip-0039/english.txt