Freewallet.io User Manual
Freewallet.io User Manual
  • Getting Started
    • What is Freewallet?
    • What are the features of Freewallet?
    • Where can I access Freewallet?
    • Where can I access previous versions of Freewallet?
    • What is Tokenscan.io?
    • Why do I need small amounts of Bitcoin to do things in Freewallet?
    • What BTC fee should I use?
    • What is the Automatic Donation System? How do I turn it off?
    • What is an Asset/Token/NFT? How can I store them?
    • I want to trade a certain Asset, is it legitimate?
    • How to find the License Agreement
    • What else do I need to know?
  • Exploring Balances, History, Exchange and Dispensers
    • Address Balances
    • Address History
    • Viewing Tokens
    • Exploring Token Information and Enhanced Asset Information
    • Understanding Dispenser Markets
    • Buying XCP and User Created Tokens from a Dispenser
    • The Decentralized Counterparty Exchange (DEx)
    • Understanding Exchange Pairs
    • Buying and Selling XCP and Tokens on the DEx
    • Understanding BTCpay and BTC/TOKEN on the DEx
  • Freewallet Functions
    • Creating a Wallet
    • Locking and Unlocking Your Freewallet
    • Viewing, Creating and Importing Addresses
    • Show a QR Code for your Address
    • Sending and Receiving BTC
    • Sending / Receiving XCP and User Created Tokens
    • Displaying the Seed Phrase and Private Key of your Address(s)
    • Using the Multi Send function
    • Create a Counterparty Token (NFTs and FTs)
    • How to Change Token Properties
    • Changing the Token Description
    • Issuing more Token Units
    • Resetting Your Token Issuance
    • Locking Your Token Issuance
    • Transfer Token Ownership
    • Destroying Tokens
    • Paying Dividends to Token Holders
    • Voting with Tokens
    • Broadcast information on the Bitcoin blockchain
    • Signing a Message Using Freewallet
    • Signing a Transaction Using Freewallet
    • Using the Sweep Function
    • Setting up a Dispenser
    • Closing a Dispenser
    • Cancelling Exchange Orders
    • Starting an Exchange Pair that has no orders up yet on the DEx
    • Minting Open Fairmints
  • Common Questions Using Freewallet (FAQ)
    • What if you make a mistake?
    • Where can I see my current version?
    • How do I check my Freewallet Server settings?
    • How do I use the Debug function on Freewallet?
    • Can I use the Counterparty/Bitcoin Testnet in Freewallet?
    • Can I burn BTC for XCP?
    • What’s a Stamp?
    • What’s an Ordinal?
    • If Tokenscan is down for maintenance, can I still access my funds?
    • Why is there more than one input on my BTC transactions?
    • Does Freewallet support two-factor authentication?
    • Can you lock a Token description?
    • Can I run my own Counterparty server?
    • How do I use Freewallet to mint an Emblem Curated Vault?
    • How do you create a Burn Address for use on Counterparty?
  • Troubleshooting / Issues
    • I sent BTC (or a Token) to Freewallet, why doesn't it show up?
    • Why can't I see my assets I own or created with 0 issuance?
    • "Error While Trying to Broadcast Transaction"
    • "Failure to send not enough BTC in wallet"
    • My Freewallet Exchange/Dispenser tab is resetting the data when I try to sort by BTC Price?
    • "Public key was neither provided nor published in blockchain."
    • I logged in and see none of my assets but I see them on tokenscan!
    • Help! I used too small of a fee and my transaction is not confirming!
    • I sent/dispensed an XCP asset to a Wrapped Segwit Address (address beginning with "3")
    • I sent/dispensed an XCP asset to a Taproot Address (an address that starts with "bc1p")
    • I updated Freewallet and can only see my first 20 addresses! How can I get them back?
    • My second transaction on an MPMA (Multi-send) is not getting confirmed and giving me an error
    • Freewallet gave me a TX link but Tokenscan says "Transaction not found on tokenscan"
    • Error composing dividend transaction via API: ['zero dividend']
    • My MacOS/Windows is saying Freewallet is not verified by the app store. What should I do?
    • Counterparty API Communication Error!
    • What is a Counterparty API Error?
    • Stuck on "Checking Data Encoding Fees"
    • Constructed transaction does not parse correctly
    • My transaction is too low of an "Effective Fee Rate"
    • Error Composing Dispenser TX - Balance History
    • I entered my created password and stuck on "You will need to unlock..."
  • Getting Support
Powered by GitBook
On this page
  1. Freewallet Functions

Create a Counterparty Token (NFTs and FTs)

PreviousUsing the Multi Send functionNextHow to Change Token Properties

Last updated 6 months ago

Freewallet makes it possible for anyone to create tokens (also known as assets, coins, NFT's etc.) that are then owned by the address they were issued from. Ownership enables you to issue more units of your token, lock the supply, change the description, and customize other token settings. Tokens can be divisible or indivisible.

To learn more about the difference between NFT, FT and what the token types Counterparty supports mentioned below, please review by RobotLoveCoffee, which gives a good overview of this topic.

There are three types of tokens at the moment when using Counterparty and all individual types can be theoretically considered NFT’s, FT’s and Divisible FT’s depending on the choices you make when minting.

Alphabetical Named

  • Alphabetical tokens (for example BACON) are considered to be "named" or alphabetical

  • They must be between 1 and 12 uppercase letters and cannot start with A.

  • To create an alphabetical token, you will need enough BTC for a transaction fee and 0.5 XCP on the address you are using.

This is an anti-spam fee, which aims to reduce the amount of names a single individual can register without significant costs. The anti-spam fee uses the XCP token and is burned (destroyed).

Alphabetical Subasset

  • Alphabetical Subasset tokens (for example BACON.CRISPY) are also considered to be named or alphabetical, but must be between 1 and 250 upper or lower case letters. Subassets will always start with the main named asset then have a "." between the next name.

  • Subassets can start with the letter "A".

  • To create an Alphabetical Subasset of an already created and confirmed Alphabetical Named Asset you will need enough BTC for a transaction fee and 0.25 XCP on the address you are using.

This is an anti-spam fee, which aims to reduce the amount of names a single individual can register without significant costs. The anti-spam fee uses the XCP token and is burned (destroyed).

Numeric

  • Numeric (or more precisely alphanumeric) tokens (for example A12149713090358620000) are free to register and only require a Bitcoin transaction fee (like all other Freewallet actions) on the issuing address.

  • If you only want to create and trade numeric tokens, you will not require any XCP. Numeric tokens must start with an "A".

  • You cannot choose the specific number the Numeric asset will be, and in the early days of Counterparty this feature was used to test the network and process for creating tokens

In this process below you will learn how to create Alphabetical, Alphabetical Subasset and Numeric tokens that can be:

  • Non-Fungible Tokens (assets with only 1 whole numbered token)

  • Fungible Tokens (assets with more than 1 whole numbered tokens)

  • Divisible Fungible Tokens (assets that can be divisible to be less than 1 whole numbered token)

Creating a token is fairly simple: Navigate to the top right corner and click the “Actions” icon. From here select the “Create a Token” action

  • The Source input line which should be an address that has enough BTC to cover the transaction fee’s as well as enough XCP to cover the anti-spam fee (for Alphabetical assets). You can change the address by clicking the note with a pencil icon to the right of the source input address.

  • Next step is to pick the Type of asset you would like to create with the drop-down menu next to the “Type” input

  • Within the Token Name input, here is where you can name your token. The token must be between 4 and 12 upper letters and cannot start with the letter “A”. If you choose to create a Numeric asset, this asset name will be automatically picked for you (these types of Numeric Tokens automatically start with the letter “A”)

  • Next to this icon is the Divisible option. The default setting of Divisibility is set to No, though are able to change this to Yes by using the drop-down menu.

  • All Descriptions of your token are public (even if you change it later) and will be visible in the Issuances section of Tokenscan when viewing your token.

This is the type of token that use (though those require a specific description prefix when minting).

For a deeper understanding and explanation of Subasset tokens, check out by RobotLoveCoffee.

The next input is the Quantity input. Since and to a token is a separate function and BTC transaction, picking the Supply here is up to you as the issuer and can be changed later.

Divisible assets are divisible to 8 decimal places - The limit of maximum issuance of any type of token is 92,233,000,000 - The minimum issuance is 0 It is also possible to register a token with an issuance of 0 units, as a placeholder, though at the moment these tokens with 0 supply will not appear in the Freewallet left panel. If you are looking to issue more token units but cannot see your token because it has a supply of 0 units, please reference the on how to do so.

A divisible asset is considered Fungible (as it can be broken into decimal places and split up). Minting a true "NFT" would be creating a quantity of 1, setting Divisible as "No" in this section and then later so no more tokens can be issued.

It is very common to create a Description for your token at this time but it can be changed later with the feature.

To learn more about the possibilities of what a Description can include, reference .

If including a longform description, such as an Arweave link from easyasset.art or a custom IPFS link, please reference this ongoing issue which is detailed in and regarding Effective Fee Rate when minting with a description. The fix for this is simply using three times the recommended High fee. A recent fix has been added in the settings for "UTXO Usage" and all fixes for this issue is explained in detail in the Troubleshooting section titled

Last is the Fee you would like to use on this Bitcoin Transaction. If you have questions about what BTC fee to use please reference

To see a deeper, in-depth video explanation of the full process of minting a Counterparty token, check out by RobotLoveCoffee that will take you through the whole process.

STAMPS
this informational video
locking the asset issuance
supplying more Token issuance
Why can't I see my assets I own or created with 0 Issuance?
locking this token
Change Token Description
Exploring Token Information and Enhanced Asset Information
Issue#190
Issue#197
My transaction is too low of an "Effective Fee Rate"
What BTC fee should I use?
this informative video
this informational video
Video by RobotLoveCoffee explaining Tokens on XCP
Token Type menu drop down options
The Divisible setting dropdown