Frequently Asked Questions
Q: I don’t understand cryptocurrency or blockchain. Do I need to know how they work to try Seeds?
A: Nope! You literally just need to know how to copy and paste, and to be able to follow written instructions. :)
Think of it like this: most people don’t know how the internet works, but they’re able to doubleclick to open up Google and type what they’re seeking in the search bar.
Seeds is sort of like that - so long as you’re able to access the internet to copy-paste a wallet address and type up what you need, you’re able to use Seeds.
Q: Why do I need to create an ETH wallet with a tool like MyCrypto to receive my Seeds tokens?
A: Seeds tokens are ERC-20 standard tokens, so a wallet that supports that technology is necessary in order to be able to store them. If you already have an ERC-20 token-compatible wallet, you’re good to go!
Q: But can I use a Coinbase wallet or a similar ETH wallet to receive my Seeds tokens?
A: Coinbase does not currently support receiving ERC-20 tokens like Seeds tokens, though they’ve said that this is going to change in the near future. You can use any ETH wallet that is able to hold ERC-20 tokens to receive your Seeds tokens. We recommend MyCrypto because they’re probably the easiest secure option currently available.
Q: Okay. How about using a Coinbase wallet/another ETH wallet to receive my Request for Help once it’s been granted?
A: We send our gifts in ETH, so yep, you could use your Coinbase ETH wallet for this purpose, and if you’re based in any of the 103 countries in which Coinbase is supported we’d suggest this option because it’s again arguably the easiest and most secure. If you have not signed up for Coinbase, you’re welcome to use this link, which will garner you $10 worth of free Bitcoin when you buy or sell $100 worth of crypto on the platform. It will garner us $10 worth of Bitcoin as well, so we thank you!
Q: I shared my email, created a wallet and have received my 10 free tokens. How do I redeem a Seeds token to activate my Request for Help?
A: As you’re filling out the form to make your Request for Help (which takes 5 minutes or so to fill out), you’ll see that Question #7 provides a wallet address to send a Seeds token to in order to complete your activation. Please note that you need a little bit of the cryptocurrency Ethereum - typically no more than a few cents worth - in your wallet in order to send the token, because Seeds tokens are Ethereum-powered.
To redeem the token and activate your request:
Open a tool like MyCrypto and enter your private key or similar to unlock the wallet that is storing your Seeds tokens.
Type the number ‘1’ under ‘Amount’ to indicate that you’ll be sending a single token.
Select ‘Seeds’ from the pulldown menu to the right of where it says ‘Amount.’
Use the slider under where it says ‘Transaction Fee’ to choose whether you’d like to send the token ‘cheap’ or ‘fast.’ For this purpose, it should be sufficient to select ‘cheap.’
Copy-paste the wallet address from Question #7 in the Request for Help form where it says ‘To Address’ at the top. Please make sure it’s correct, as tokens that are sent to the wrong address cannot be recovered.
Click the button that says ‘Send Transaction.’ If the information in the pop-up is correct, click ‘Send’ again.
Your token has been sent! Now you just need to share the confirmation with us. To do that, copy the digits following where it says ‘TxHash’ in the green pop-up at the bottom of your wallet.
Last step! Now paste your TxHash in the response to Question #7 in your Request for Help form. When the token has been received, your request is activated. :)
Q: How much money should I ask for when redeeming my Seeds token to make a Request for Help, and how long will it take?
A: While there are no guarantees, as of August 2019, the largest request the Seeds community has successfully granted was for $2200, and that took over 18 months to fulfill. We’re finding that requests of $400 or less are often granted comparatively fast, sometimes within a couple weeks. As our community grows, we expect to be able to grant more requests of larger size more and more quickly.
Eventually, we dream of giving people the funds they need to do things like cover tuition at a private college in the States, fund a seed round at a startup, or buy a dream home. We want to render institutionalized finance - banks and venture capital - and its endemic discrimination obsolete.
Q: What am I allowed to request money for?
A: You’re welcome to ask for anything you may need funds for, so long as it’s a legal usage of funding.
Q: Am I guaranteed to receive the money I request?
A: There are no guarantees, as each Seeds request is shown to our community of app users and website visitors, and what you request may resonate with some members of the community, and it may not resonate with others.
To give yourself the best chance at receiving the help you’re requesting as quickly as possible, try to be very clear and succinct about what you need the money for and why when completing the Request for Help form. Smaller requests are also more likely to be granted more quickly.
Q: Can I make more than one Request for Help at once?
A: You’re welcome to make 2 requests at once if you would like. Once you have had 2 Requests for Help granted, we ask that you give back 1/3 of the total value you’ve received to other folks in need in the Seeds community before making a 3rd request. For example, if the total gift you’ve received from Seeds is $300 via your first two Requests for Help, we ask that you give back $100 before making a third request.
You can give back to the community by contributing to another person’s request on our website, purchasing a Seeds gift card, or, if money is tight, by inviting people you know to give or buy tokens themselves. If you’d prefer the third option, please email us at firstname.lastname@example.org, and we’ll create a unique code for you that the people you invite to contribute may use to help you reach your goal.
Gift cards may be used by the person who purchased them, or alternately, if you’d like to buy a gift card for someone else, we’re happy to send it to them for you. For every gift card purchased, one of equal value will also be given to someone in need.
Q: When I tried to redeem my Seeds token Etherscan said the transaction failed at first, but later it said it was successful. What happened? Has my request been activated?
A: What likely happened is that the first attempt to send your Seeds token via the Ethereum network failed because a ‘cheaper’ transmission fee was selected, but after the initial failure, the network automatically tried again, and a subsequent attempt was successful. This method of charging fees for transmission (the ‘gas price’) is integral to the design of blockchain networks like Ethereum and Bitcoin. Essentially, you’re paying another member of the network, called a ‘miner,’ to send the cryptocurrency for you. Until a miner agrees to send the crypto for the amount you’ve offered to pay, the transmission will fail to send.
Going with the cheaper transfer amount is often sufficient, but if it's ever necessary to guarantee that something is sent quickly, you can select 'faster' rather than ‘cheaper’ in the wallet from which you’re sending, which will make the transfer slightly more expensive and much more likely to be fulfilled quickly. For more information regarding how Ethereum works, this comprehensive beginner’s guide can help.
Q: My Request for Help was granted! What happens now?
A: Congratulations! Now that your request has been fulfilled by the Seeds community, our team will send you a test transfer (typically $1 worth of ETH) to the wallet address beginning with the digits 0x that you shared when initially completing your Request for Help form. We’ll then email you to confirm receipt. Please note that you must confirm within 30 days. Once we know the funds are going where they’re meant to go, we’ll send you the remaining amount ASAP. Yay!
Q: Why are you sending the gifts in ETH? What if I want my gift via bank transfer or Paypal?
A: We think banks and venture capitalists are inefficient and have treated people pretty horribly, and we want to build a new system that takes better care of people - rendering institutionalized finance obsolete.
To that end, we’re doing everything we can to try and help people onboard to crypto and its benefits, and giving gifts in ETH is one way to do that.
Before your request is granted, we’ll support you in signing up on a platform like Coinbase, so that when the gift is sent, you have options in place that allow you to spend the funds in your local fiat currency right away if need be, or to watch your crypto trade on the market if you choose. We’ve had requesters watching a gift go up nearly 30% beyond what they had asked for initially because of this gift-giving method.
That said, if you’re unbanked, we want to make sure we can help you in a way that is actually useful to you. Please email us at email@example.com to discuss other options if there are no crypto exchanges available in your area, and we’ll do our best to meet your needs. Thank you!