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FAQs

Where can I get support?​

By emailing us at support@ecredits.com or reviewing our FAQs at Support : eCredits

Where can I report bugs?​

Report bugs directly to eCredits support team by writing to support@ecredits.com

How to work with multisig​

Multi-signature wallets or “multisig wallets” for short, are a type of cryptocurrency wallet for which at least two private keys are needed to sign a transaction.

Imagine a secure locker with two locks and two keys held by two parties that can only be opened if both provide their keys, thus ensuring that one party is not able to open the box without the other party’s permission.

See this in-depth guide on how to set up multisig:
Multi Signature Ethereum Wallet - 5 Easy Tips (w/ Code)

How to use metamask and ledger​

Currently, the eSync Network is not integrated into any ledger device.
Since the eSync Network is built on the Ethereum Blockchain, using ETH works just as well.

The only downside is that your ECS funds are not shown in the ledger itself. To be able to use a ledger and see your ECS funds, you must:

  1. Set up the ledger device and choose Ethereum as the blockchain
  2. Import the hardware wallet into Metamask

Even though you don’t see your ECS in the ledger, if you import it into Metamask you will see it without having to do anything else.

You can do the transactions from Metamask and authenticate with the ledger.

Is eCredits trusted? Does the SCE have my funds?​

The SCE does not have access to your funds.

eCredits (ECS) are stored on the decentralized eSync Network. It is a new blockchain based on the Ethereum protocol, a proven blockchain technology.

When you register with the eWallet App for the first time, whether it’s a personal or a business account, you'll be asked to create your Seed Phrase. The Seed Phrase is your security key to the eWallet App consisting of 12 words in a specific order. It is crucial to keep your Seed Phrase secure, so that no one else can access it.

If you lose it or it gets stolen, you lose access to your eWallet and your funds. The SCE does not know or have access to your Seed Phrase and cannot restore it if lost or forgotten.

Do I need to create additional addresses?​

No! You can use one wallet address for everything, but you can also create as many additional addresses as you want to help you better organize your funds.

How does the ACT Swap work?​

Starting December 18, 2023, ACT Swap is open to all Business and Personal Users within the eCredits Ecosystem. This enables direct conversion of eActivity (ACT) to eCredits (ECS) through a smart contract on the eSync Network.

To initiate ACT Swap, use your eCredits Wallet App with your existing ACT balance.

The monthly swap, set at a 1:1 exchange rate (1 ACT = 1 ECS), allows a maximum of 50,000 ACT per cycle per address. Swap cycles vary in duration but generally align with a calendar month, concluding at month-end and starting with the first time any eCredits user begins their ACT Swap in the given month.

Key considerations for ACT Swap:

  • You can swap from any address in your eWallet.
  • Please note, in your eWallet, there must be enough ECS on the address you’re using for the ACT to pay the gas fees.
  • Converting ECS to ACT is not supported.
  • Basic ACT Swap can be executed from any wallet, as it's independent of The SCE, and facilitated by a smart contract.

What's the differences between resetting the Seed Phrase and resetting the password?​

Resetting your Seed Phrase requires you to delete your existing eWallet, with its Seed Phrase, from your account. You will get a new wallet and new Seed Phrase. However, any funds you have in your wallet when you reset your wallet will be lost.

Resetting your password is merely setting a new password for your existing account. During password reset you will retain your wallet and your funds.

Where can I see my transactions?​

You can see them all in the following three places:

  • Open your eWallet App and click “eWallet” from the bottom left of the screen. Then click on the wallet you’d like to see. The transactions are listed there.
  • Go to the Web Portal at https://portal.ecredits.com/ , and log in. The list is there.
  • Go to the eSync Network Block Explorer, and paste your Wallet Address into the search bar. You’ll see all your transactions there.

As a Merchant, how do I register and accept ECS purchases?​

The steps are:

  1. Create your account and complete the onboarding. Here’s our step-by-step guide
    1. Set up your store in the Web Portal and make it visible.
  2. In the Web Portal click “Business Settings”, then “Stores”, then “Add a new store”. Be sure you also make it visible on the map! More instructions here
  3. That’s it! Now all that’s left to do is to request a payment from someone who wants to pay with ECS

If you’d like more information or assistance in any of the steps, write to support@ecredits.com or check out our FAQ at Support : eCredits

Does buying ECS on Blocktrade trigger a transaction on the blockchain?​

Trading on Blocktrade does not create a transaction on the blockchain. Exchanges have a structure of hot and cold wallets, and trading usually only occurs within the exchange and not on blockchain. This is because each transaction on the blockchain would cost gas and would need to be added to the chain. If there are millions of trades they would pollute the blockchain, and as some of them occur within milliseconds, blockchains would be unable catch up. A transaction only happens if you deposit or withdraw. This is how (central) exchanges in general work with all blockchains and cryptocurrencies.