My smartphone looks cheap, what can i do?
We have got your back! We have created some nice Holdin’ wallpapers for your smartphone. Download them for free here:
(scroll all the way down for a Desktop Wallpaper 1920×1090)
Frequently Asked Questions
What is the minimum/maximum period I can lock my coins up for in order to act as a Holder?
In order to participate in the Holding system you will need to lock your coins up for a minimum period of 2 months.
The maximum you can lock your coins up for is 3 years.
A holding account can be extended during the holding period but never shortened.
What happens if my wallet goes offline once I have a holding account?
After a certain period of time, depending on the weight of the wallet, of not complying with the Holding conditions, your account will no longer count towards the Holding draw. The period that your account can be absent is mentioned in your holding account under “Required reward time”. It is a time of days / weeks that you may be absent and electricity failure of a few hours does not matter.
As soon as you log in again, you will have to pay a normal transaction fee, so that your wallet can participate in the draw again.
Your holding period will not be changed by this, it just remains the set value.
I’ve locked my coins up for 3 years but changed my mind, is there any way to get them back?
No, once they are locked on the blockchain the process is permanent and cannot be reversed.
What are the main benefits of this holding system?
Besides the benefits to the user in the form of holding rewards, the holding system gives a huge improvement to the security of the network. Faster transactions only 1 or 2 confirmations are now safe, compared to 7 confirmations before.
More consistent block times. Future developments will even allow transactions with 0 confirmations.
How much can I earn with a holding account?
How much rewards you earn as a Florin holder is difficult to say because it depends on many factors, and these factors can change. The following guidelines apply:
- The longer your locking period is, the higher your earnings will be.
- The more Florin you commit, the higher your earnings will be. Although there is an optimum.
- The more Florin are in holding in total, the lower your earnings become.
- The more holding accounts are created, the lower your earnings become.
A Florin community member created an Excel holding calculator that gives AN INDICATION of what your rewards would approxomatily be in the current Florin Environment.
Important!
This is just an indication. No rights can be derived from the content in the Excel sheet.
If you wan’t to check how differently set up holding accounts would do in terms of % of earnings, please check this excel sheet.
Holding Reward CalculatorIs Florin Holding not the same as POS for other coins?
No, not at all. Holding, in collaboration with PoW, is intended to strengthen the Florin network and make it safer. Thereby achieving fewer confirmations and solving all kinds of other security issues. In addition, it breaks the power of miners by breaking up the transaction validation into two pieces. There is a part for the miners and a part for the holding accounts. Both have in principle conflicting interests in this transaction validation, as a result of which miners and holding accounts cannot hold the Florin network hostage or impose their will.
While PoS is only intended as an alternative coin distribution compared to coins that work through PoW distribution.
How do I make a safe backup of my wallet?
Whereas in the past you had to backup a file regularly, nowadays the recovery phrase is the key to your wallet. So you only need to store your recovery sentence properly in a place where no one else can access it.
You receive the unique recovery sentence upon installation of the wallet. If you “forgot” to write down your recovery sentence upon installation, you can find the recovery sentence in the desktop wallet under Gear Wheel > Wallet. Here you have the option to view your recovery sentence and then write it down and keep it safe. In case you have secured your wallet with a password, you will be asked for this password before the restore sentence is shown.
Keep your recovery sentence in a safe place, if you lose it and lose access to your wallet before you have a chance to write it down again, you will lose your Florin. By the way, it is still possible to backup your wallet.dat but it is recommended to use your restore sentence for this. It is recommended to store the restore sentence in two places. There can always be a fire or other calamity that will destroy the restore sentence. So think carefully about this.
Florin app (mobile wallet)
During the first use of the Florin app (apple or android) you will be explicitly asked to write down the recovery sentence (consisting of 12 short words) somewhere. Do so! The repair sentence is needed to re-activate your wallet with all your active transactions (and thus Florin) on another phone (for example because your phone is stolen or broken). If you lose your recovery sense, then you can’t restore your wallet and you will lose all Florin. Below we give you a few tips on how and where you could save your recovery phrase.
Online backup options
Commonly used is just taking a screenshot and saving it to the cloud, or emailing your recovery sentence to yourself. But all online options are not recommended. There is too great a chance of your accounts being hacked where you could lose your recovery sentence to malicious parties.
Offline backup options
Using http://cryptosteel.com
Writing on a paper and putting it in a safe (keep in mind that ink can fade!)
Include in your will before a notary public (your heirs will receive the codes in the event of your death)
Keep it on a USB stick and then store it somewhere (a USB stick can get lost and/or broken, make sure you have a double backup).
My computer has crashed, have I lost my Florin?
It is already unpleasant that your computer (or hard drive) has crashed or is no longer working as intended. Then you realise that your Florin app was also on your computer. Panic!
No, you can simply restore your wallet with help of the recovery phrase, which you hopefully have stored in a safe place.
Download the wallet software
Start the installer
Choose “restore wallet”
Type in your recovery phrase and after synchronizing your Flrorin are back.