Frequently Asked Questions

Where is my private key stored?
Your master private key is stored in the web browser local storage.  This is unique to each browser and each device.  Your private key is not shared with anyone nor is it transmitted anywhere.  You have total control and ownership over your private key.

Is my information shared with anyone?
Your personal information is not collected or shared with anyone.  Your public IP address may be sent to web servers that you visit, unless you use a VPN or Tor/Onion.

Are my coins safe?
Your coins are stored in the public blockchain, just like any other proof of work based crypto currency.  Only your master private key can unlock those coins.  As long as you keep your master private key safe, no one else can unlock your coins.  You should choose a strong password to protect your wallet.

How do I send DYN to someone?
You need to know their wallet address which is a 42 character string that starts with “dy”.  Inside the wallet, you select “Send” and then enter the amount and their address.

How do I receive DYN from someone?
The wallet lets you generate a easy to use web link that you can safely send to anyone to request payment.  Simply select “Receive”, enter the amount (if needed) and click “copy to clipboard”.  You can then paste this URL into an email or other means of communication to request payment.

I’ve lost my password, can it be recovered?
No.  If you have lost your password you will not be able to access your wallet.  You will need to create a new wallet and recover your master private key from your 12 word seed phrase.

I’ve lost my seed phrase, can it be recovered?
No.  You will need to create a new wallet with a new seed phrase and login to your existing wallet and send the coins to the new wallet.

I’ve lost my password and my seed phrase, are my coins lost?
Yes.  In this case your coins cannot be recovered by any means.

Why doesn’t my balance equal the sum of my transactions?
Each transaction incurs a fee, which you set in the send transaction screen.  You pay this fee in order to compensate the miners for securing the network.

Someone sent me DYN, but I don’t see it yet – how long does a transfer take?
The wallet will wait for 4 block confirmations before updating the balance and transaction screens.  You can view the current confirmed block time in the transaction history screen.  The Dynamo block time is, on average, 15 seconds, so you will need to wait about 45 seconds to a minute for the transaction to be mined and confirmed.

Do I have different addresses to send and receive?
No.  Your public send and receive address are the same.  For simplicity, the web wallet only supports one address.  In the future it may support generation of multiple addresses.  If you are concerned about the privacy of your addresses you can create multiple wallets in different browsers or on different devices.