Get answers of frequently asked questions
NFT stands for “non-fungible token” and is a unique cryptographically secured token that (compared to fungible tokens such as Bitcoins) is not exchangeable. Thus, each token is a unique piece and cannot be replicated or destroyed. The ownership of the token, which is traded on open, decentralized marketplaces, is regulated and protected via smart contracts on the blockchain (often Ethereum).
Banity – brought to you by DECOM Switzerland – has taken all possible security precautions when handling the private keys. Nevertheless, we cannot give any guarantees, as we simply cannot determine whether the theft was caused by the wallet’s owner, a previous owner or elsewhere.
Yes, Banity are tradable on www.opensea.io. The primary marketplace for Banity is not on Banity’s website. A Banity follows the ERC-721 standard on the Ethereum blockchain and, as such, can be transferred freely amongst Ethereum wallets. We have no control over users who create markets for Banity on third-party websites.
In order to own a Bitcoin vanity address with 8 human-readable letters – let’s say kindness -, someone has to generate 588 private keys before a random chance occurs, which on average starts with “1kindness”. The longer the vanity address is, the more difficult it becomes on average to find such address.
If you scroll through the gallery, you will find that those with 8 letters are the majority of the 1001 Banitys in total. This is because the difficulty increases exponentially.
There is one way to get a Banity. After announcing of a newly-minted Banity on our Website, we will make the first launch on third-party websites. Each Banity is offered at a fixed price and sold to the fastest bidder. Make sure you never miss a post. Subscribe today to our official social media channels and we will keep you informed.
That simple! The pattern that can be found in the public address is highlighted in bold in an easily identifiable manner. All public addresses have at least 8 human-readable letters.
If you own a Banity NFT, you can request the private key of the valid Bitcoin address. To do this, you will need to redeem your NFT token by clicking “Redeem” on the Banity.com website.
- If you choose the private key by post, the Banity card you get is a physical piece of card that keeps copies of your private and public key. The private key is covered with a scratch-off layer. By removing the scratch-off layer, the owner can access the private key in the form of a QR code and is therefore the sole beneficiary of the bitcoin address. Please note that cards can be stolen physically! We emphasize that customers need to keep their paper wallets very safe. (We ship within Switzerland, the EU and internationally. We offer to ship via standard mail/A-Post and via registered mail. The fee for shipping is paid by the customer.)
- If you choose by e-mail, we will send you the private key in an encrypted message that works with any recipient email provider. In this way, the owner of the Banity receives the private key, which can be securely written on a piece of paper. Before redeeming the token, we recommend the private key holder to save (or/and print out) the front side of the Banity card. (Only recipients can decode the message. No software is required.)
- You also have the option of choosing both ways.