Frequently asked questions

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General
What is WEIcrypto?
WEIcrypto – is an ecosystem of products created on the basis of blockchain technology, aimed at technological changes of world’s financial system.
How to start using WEIcrypto?
Firstly, read the legal information, because it is necessarily for WEIcrypto users. You can find the current version of legal information in this link.
Further steps are depends by who you are: individual or organization.
We will recommend you to buy WEI using this link, as it's the main asset of WEIcrypto ecosystem, and then download WEIpay wallets or register in WEIpay Business. All relevant links you can find on WEIpay section of this website. 
Who created WEIcrypto?
WEIcrypto project has united excellent specialists from economics, IT, marketing and jurisprudence who sincerely want to make the world a better place. Check this link to learn more about WEIcrypto team.
The head organization of WEIcrypto called WEI Foundation NCLE and based in Georgia. Check this link to learn more about WEI Foundation. 
Who controls WEIcrypto?
Generally, WEIcrypto is not controlled by anyone. Its development is determined by the budget voting of the users most interested in the project's success, the masternodes. But at the beginning of its development, some areas of the project may be coordinated by WEIFoundation NCLE management to prevent fraudulent actions by unscrupulous individuals.
What security measures have we taken?
WEI uses the x11 hashing algorithm, combining 11 different hash functions for encryption, in order to make the network more robust and avoid centralization in case the algorithm is hacked to disrupt the mining process. Moreover, WEI doesn’t provide smart contracts or something, what can be hacked.
In theory, masternodes could fall into the hands of attackers, but the probability of a successful attack on a system is extremely low, even if it is large-scale because masternodes also verify each other. For example, if 43% of all WEI masternodes are captured, the probability of a successful attack on the system is only 0.67%.

Who is our target audience and customers? Which regions are you specifically targeting, or are there restrictions for users? 
WEIcrypto was created as a mass-use product, it should be convenient and useful for everyone who wants to use it. Regarding geography: we don’t focus on any country mainly, our services can be used anywhere.
Mostly, we target the B2B sphere to create an opportunity for people to use WEI as means of payment.
Do we take into account feedback/requests from the community during the creation of your product to expand fresh ideas for your project? 
We certainly take into account the requests of the community. Our blockchain provides a decentralized management system: users offer their applications for consideration by the community on the platform weivoting.com , the community votes. With a positive result of the vote, the creator of the application is given the opportunity to magnetize 5% of the monthly issue of WEI to finance his proposal. 
WEI 
What is WEI?
WEI is an open-source coin, a blockchain that consists of two layers (miners and masternodes) and is the main asset of the WEIcrypto ecosystem. WEI coin allows people to make an instant transaction with low fees.
What is masternode?
Masternode is the user, the second layer node of the WEI blockchain. Masternodes aim to make PrivateSend and InstantSend algorithms work and to participate in budget and WEIpartner voting.
What is PrivateSend and InstantSend?
The built-in Private- and InstantSend mechanisms allow you to completely depersonalize the parties to the transaction, while significantly increasing the speed of transactions.
By mixing and using indistinguishable standard amounts (for example, 0.1, 1, 10 WEI) in the PrivateSend function, the ability to track who originally belonged to the funds received on the account is reduced to zero.
The InstantSend function allows cryptocurrency holders to make instant transfers: the transaction is confirmed even before it is entered into the blockchain, which makes WEI an everyday means of payment.
How to mine WEI using with PoW and PoSe? How to create a masternode?
Just follow the instructions in our documentation
How to mine WEI by making sales and purchases?
For individuals: simple download the WEIpay app for individuals by using the relevant link in WEIpay section and pay with it in shops, which are already integrate WEIpay Business. The list of all points, where you can spend your WEI you can find in this link.
For organizations: simple register in WEIpay Business by using the relevant link in WEIpay section and accept through it transactions in your fiat currency in WEI equivalent. 

Every transactions with above requirements following will be rewarded up to 2% of the transaction amount immediately for each parties.
Who bears the losses from 2% of each transaction amount in WEI? Who pay out it?
No one bears the losses. This amount is provided by the blockchain, as during the WEI mining the block reward is divided not only between miners and masternodes, but also between WEIback system, which provides this amounts to individuals and organizations as a reward.
WEIpay
What is WEIpay?
WEIpay is a payment system for individuals and organizations, which allows to store, receive, send and mine WEI by making sales and purchases. WEIpay services are totally free for users.
How to create a WEIpay wallet?
To create an account for an individual, simply download the "WEIpay" app from the AppStore or GooglePlay and proceed to create an account as "Individual". To create an organization's wallet, you should either download the app and proceed to create an account as "Organization».
How to create a WEIpay Business account?
To create an account in WEIpay Business you just need to go through registration form in this link. Your account will be under review within 24 hours, after that you can start using all payment tools.
How to recover my WEIpay wallet and WEIpay Business account?
To recover your "individual" wallet you need to write down your seed phrase (12 words, that were given you during the first registration of the "individual" wallet) to the special window in your app. 
For "organization" account and WEIpay business account recovery just press "forgot my password" button and follow the inner instructions.
How to reset my password if you forgot my seed phrase (12 secret words, that were given you during the first registration of the "individual" wallet)?
Individual wallets are decentralized storage of your funds. It means that no one but you had an access to your seed phrase and it wasn't stored anywhere. Based on this, it's impossible to reset your password and recover your wallet if you forgot or lost you seed phrase.
How to get a 2% additional profit from each transaction?
For individuals: simple download the WEIpay app for individuals by using the relevant link in WEIpay section and pay with it in shops, which are already integrate WEIpay Business. The list of all points, where you can spend your WEI you can find in this link.
For organizations: simple register in WEIpay Business by using the relevant link in WEIpay section and accept through it transactions in your fiat currency in WEI equivalent. 

Every transactions with above requirements following will be rewarded up to 2% of the transaction amount immediately for each parties.
How to make transactions using a phone number?
To make transactions using a phone number, link it to a public wallet address, using the appropriate section in the settings. To maintain anonymity, we recommend you to create an additional wallet after this procedure, the public address of which will not be associated with your phone number. This will help keep you anonymous if you wish.
Why do you need WEIpay Business, if you don't believe in cryptocurrency?
We don’t suggest you to switch to WEI only. We respect fiat money, but believe that both customer and seller have a choice to choose the way they pay. WEIpay business can become technological addition to those ways of payment you currently use. There is a hype around cryptocurrencies in the world, but few of them can be used in everyday life like WEI. It is possible that accepting WEI as payment will increase the attention of crypto enthusiasts to your company and attract new buyers.
How do we solve the volatile issue in WEIpay Business payment?
The price for the goods in the WEIpay payment system is set in any currency of the world, which is converted online into an equivalent in WEI and frozen for 15 seconds at the time of the payment. The price of your item stays the same, while the required amount of WEI to pay changes.
Why WEIpay Business is free?
All of the products of our ecosystem are totally free. It allows us to gain partner network, that directly affects capitalization of our main asset - WEI digital currency.
Is WEIpay Business legal for my company?
WEIpay provides settlements in WEI cryptocurrency for merchants in: 
Afghanistan
Åland Islands
Albania
American Samoa
Andorra
Angola
Anguilla
Antigua And Barbuda
Argentina
Armenia
Aruba
Australia
Austria
Azerbaijan
Bahamas
Bahrain
Barbados
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bonaire, Sint Eustatius and Saba
Bosnia and Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean Territory
Brunei Darussalam
Bulgaria
Burkina Faso
Burundi
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Chile
China
Christmas Island
Cocos (Keeling) Islands
Colombia
Comoros
Congo
Congo, the Democratic Republic of the
Cook Islands
Costa Rica
Côte d'Ivoire
Croatia
Curaçao
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
El Salvador
Equatorial Guinea
Eritrea 
Estonia
Ethiopia
Falkland Islands (Malvinas)
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
French Southern Territories 
Gabon
Gambia
Georgia
Ghana
Gibraltar
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guernsey
Guinea
Guinea-Bissau
Guyana
Haiti
Heard Island and McDonald Islands
Holy See (Vatican City State)
Honduras
Hong Kong
Hungary
Iceland
India
Ireland
Isle of Man
Israel
Italy
Jamaica
Japan
Jersey
Jordan
Kazakhstan
Kenya
Kiribati
Korea, Republic of
Kosovo
Kuwait
Lao People's Democratic Republic
Latvia
Lebanon
Lesotho
Liberia
Libyan Arab Jamahiriya
Liechtenstein
Lithuania
Luxembourg
Macao
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Micronesia, Federated States of
Moldova, Republic of
Monaco
Mongolia
Montenegro
Montserrat
Mozambique
Myanmar
Namibia
Nauru
Netherlands
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Northern Mariana Islands
Norway
Oman
Palau
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Pitcairn
Poland
Portugal
Puerto Rico
Qatar
Réunion
Romania
Rwanda
Saint Barthélemy
Saint Helena
Saint Kitts and Nevis
Saint Lucia
Saint Martin (French Part)
Saint Pierre and Miquelon
Saint Vincent and the Grenadines
Samoa
San Marino
Sao Tome and Principe
Saudi Arabia
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Sint Maarten (Dutch Part)
Slovakia
Slovenia
Solomon Islands
Somalia
South Africa
South Georgia and the South Sandwich Islands
South Sudan
Spain
Sri Lanka
Sudan
Suriname
Svalbard and Jan Mayen
Swaziland
Sweden
Switzerland
Taiwan, Province of China
Tajikistan
Tanzania, United Republic of
Thailand
Timor-Leste
Togo
Tokelau
Tonga
Trinidad and Tobago
Tunisia
Turkmenistan
Turks and Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
United States Minor Outlying Islands
Uruguay
Uzbekistan
Vanuatu
Venezuela
Virgin Islands, British
Virgin Islands, U.S.
Wallis and Futuna
Western Sahara
Yemen
Zambia
Zimbabwe

Using WEIpay in Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, Egypt, Indonesia, Iraq, Kyrgyzstan, Macedonia, Morocco, Nepal, Pakistan, Palestinian Territory, Turkey, and Vietnam is prohibited. 
How to pay for my good by WEI?
To pay by WEI you need to send the exact amount of required amount to the merchant address from the payment screen)
IMPORTANT: make sure you are sending the exact amount to the merchant address. Merchant's automatically generates a new address every minute for the exact requested amount. Sending more or less, than require a payment, could make your send the amount to merchant, but wouldn't count it as a successful payment. 
WEIpartner
What is WEIpartner?
WEIpartner - is an interest-free decentralized loan service for organizations from any sphere and on any stage. To repay the loan you just need to add WEI as one of the payment forms.
Who decided whether to give me a loan or not?
A loan in WEIpartner is provided through the masternode voting of blockchain nodes on a specialized platform weivoting.com
How to repay the loan?
You independently set the monthly payment rate when forming a loan application. The set amount will be debited automatically from your WEIpay account.
Based on this to repay the loan you just need to accept WEI as one the payment forms in loaner point of sale.
What masternodes receive for participating in WEIpartner voting?
Masternodes are the most interested in the success of the project. WEIpartner's terms of trust financing create an economic relationship using WEI cryptocurrency outside of the WEIcrypto ecosystem, which has a positive effect on the WEI exchange rate.