Frequently Asked Questions
What is MicroWallet?
Microwallet is a wallet provider with extended capabilities. You can receive payments of many cryptocurrency types and we will be adding more as we grow. Currently this includes the ability to store, stake, transfer, take-in and/or pay-out from and to specific users, businesses and faucets that utilize cryptocurrency. If you have a website you can easily accept cryptocurrency using the Microwallet API. Here you can find our Microwallet API. We also offer Plug-ins and tools to make it easy to integrate cryptocurrency payments into your website.
What is the “Dashboard”?
The Dashboard feature allows microwallet users/members to view their current cryptocurrency holdings, that are approved/listed on our MW platform, (i.e.- BTC, ETH, BCH, LTC and DOGE).This is subject to change as we continue to approve/accept tokens. These cryptocurrency tokens/holdings within Microwallet’s platform are updated upon refresh every minute. The dashboard provides a simple and easy way to view your account balance.
What are API Docs?
Microwallet has an API system. Want to accept or send crypto in your business? Microwallet API Doc's are the documentation resources for developers, webmasters and administrators, allowing them to take advantage of the Microwallet Payment Gateway and related features. Currently, the MW Merchant API supports a wide range of capabilities, allowing for cryptocurrency transactions(payments) to be made using cryptocurrencies currently supported (BTC, ETH, BCH, LTC and DOGE.) The API takes care of all the heavy loads and provides users/members with a quick API access to the platform and handles accepting/sending transactions(payments) from one wallet to another instantly, while charging the lowest most competitive fees. Customers can now pay a merchant (ecommerce) directly from their computer or mobile device. We not only offer a more secure, faster and efficient way to conduct business globally, we do it through building relationships and trust in the blockchain ecosystem. Accepting cryptocurrency as payment is not only safer, faster and more secure than what present day financial institutions offer, but no longer does a merchant need to collect and store sensitive customers data information that may not be required. Transactions are recorded permanently on the Blockchain digital ledger.
What does "Receive" do?
Each type of BTC, ETH, BCH, LTC and DOGE has a unique receive address.Members/users can receive directly in their Microwallet account BTC, ETH, BCH, LTC and DOGE. Once clicked over "Receive" the system will generate an unique address. Incoming cryptocurrency can be viewed in the “receive” link from the navigation bar. Members/Users can manage their deposits in the ‘Receive’ view. The Receive view also shows the total holdings for each user/member in the supported cryptocurrency they choose to view ( BTC, ETH, BCH, LTC and DOGE). ‘Receive’ feature shows the deposit history. It shows the Amount, Date/Time, Address, Status. You can also search your deposit history through the ‘Receive’ feature. In the ‘Receive’ view users/members can see their deposit details and associated cryptocurrency wallet addresses. Each MW supported cryptocurrency have a deposit address, (for example when clicking “Deposit BTC '' users will see their own separate address). For example, click on “Deposit BTC” to view information about your wallet address and the public key issued for users to deposit BTC. If someone wants to send you BTC, you can share with them your public key address and they use this address to send BTC to your MW account. The addresses issued are your own private address. Each user has access to an address for each type of token supported by MW- BTC, ETH, BCH, LTC and DOGE. You can deposit funds into this address at any time once you have created an account on MW. You do not need to be logged in to receive cryptocurrency to your MW account. You can use this address anywhere anytime as long as it is entered correctly with the correct token type. Pay attention to detail and make sure you enter your address correctly. Mistakes and incorrect details when using any cryptocurrency addresses can result in significant loss. Deposits will be credited after 1 network confirmation (transaction). When a member/user sends cryptocurrency (makes a transaction) they have to wait until the transactions are confirmed on the blockchain in order for that transaction to be verified or approved. MW deposits are confirmed after at least 1 network confirmation. THERE IS A PROCESSING FEE OF 0% ON ALL DEPOSITS AT MICROWALLET.CO. Be aware that since we process faucet withdrawals in batches, it can take 8 Hours until we process your withdrawal. Often this is not the case and users can define the speed such as “Fast” and “Medium”, but for small amounts of satoshis at the faucet level this time frame can be common. Users can deposit any amount of the supported cryptocurrencies we list free of charge! The ‘Deposits’ feature displays the deposit history. Deposit history shows the amount, Date/Time, Address(es), Status of the transaction (pending/confirmed).
What does the "Send" feature do?
Each type of BTC, ETH, BCH, LTC and DOGE has a unique send address.Outgoing cryptocurrency activities can be viewed and completed in the “Send” feature. The “Send” feature allows members/users to manage and view any cryptocurrency transaction sent using their Microwallet account. The ‘Send’ feature also shows the dashboard view of total holdings of a member/user in their wallet, showing cryptocurrencies currently supported MW - BTC, ETH, BCH, LTC and DOGE. The ‘Send’ feature allows members/users a view of sent transaction details and associated cryptocurrency wallet addresses associated with each of their transactions. Members can send their cryptocurrency utilizing this feature. Each MW supported cryptocurrency can be sent with any provided address from MW supported cryptocurrencies. Members/users can enter the BTC address where you want the funds to go/where you want to receive the funds. Miners on the blockchain are aid fees. MW offers 3 fee structures- 1. Fast 20 minutes, 2. Medium 2 hours 3. Slow 8 hours. MW does not take fees in this process. Fees can depend on a number of variables and while we work to ensure the lowest fees MW must reserve the right to take fees when appropriate and will inform our users if this is the case. You can view the sent history along with details about the Amount, To Address, Requested At Date/Time, Status, and Action. Action will bring you to the specific transaction on Blockcypher or similar so you can view the details of the transaction.
How does the “Exchange” feature work?
In is possible to exchange the crypto at the lowest conversion possible. User can convert BTC, ETH, LTC, DOGE, BCH. We want to provide a service without force user to pay high commissions or fee.
What is the minimum withdrawal amount?
The minimum withdrawl amount is approximately USD $5 in denominated cryptocurrency
How do members/users “Earn interest”?
Our loyalty program includes the ability to receive compounded daily interest on any balance that you hold in your MicroWallet account, without twitching a muscle. All you need to do is maintain any minimum balance of BTC, ETH, BCH, LTC and DOGE in your MicroWallet account and we will do the rest by paying you a compounded daily interest on your full balance each and every day. Compounded daily interest is calculated as dollar denominated value up to $300 USD total a year and this will expand as we grow and allow our users/members to prosper with us. There is no lock-in period to earn interest (you start earning interest right from the first day!) and your balance can be withdrawn any time you wish. Treat your MicroWallet account like an instant-access savings account to hold your excess bitcoins and earn passive interest on your account balance everyday. Annual Interest Rate: 7.30% Daily interest will be calculated at a random time everyday @ 0.02% per day and rounded down to the nearest number.
What functions/capabilities exist in “Settings”?
Settings allow users/members to change and update their passwords. The ‘Settings’ link can also enable ‘Two Factor Authentication’ which is recommended.
What does “History” show?
‘History’ feature shows users/members login history. ‘History’ feature can also verify if users/members have logged out of’History’ feature allows viewing of information (Number, IP Used, Status, Date/Time).
What is Merchant Custom Checkout?
If you have a website or a physical store/resturant you can now accept payment via crypto directly in your Microwallet account. You can use both API or even create manually just using the command "Create Checkout" in merchant app section.