Syscoin 2.0 FAQ

Getting Started

Converting Syscoin 1.0 to 2.0 is very easy. Only Syscoin balances before the Syscoin 2.0 launch cutoff of April 30th, 2016 at 10am US/PST will be honored. If your coins were on an exchange, they have been auto-converted.

Close your Syscoin 1.x wallet. Backup your Syscoin 1.x wallet by navigating to the Syscoin data directory located here on windows and here on mac and make a copy of your wallet.dat file to a different, safe location.

Delete ALL files in your Syscoin data directory except for your original wallet.dat. Now run the Syscoin 2.0 wallet and wait for it to sync with the Syscoin network. Your balance in the new wallet should reflect your balance in the Syscoin 1.x wallet.

It is recommended that after this procedure is complete you create another backup of your wallet.dat retain both backups. Delete the old Syscoin 1.x wallet application from your system (or uninstall if you used the installer on Windows). Running the Syscoin 1.x wallet on top of Syscoin 2.x after conversion may lead to data corruption.

The wallet directory is located in:
The wallet directory is located in:Syscoin Wallet Directory example
/Users/[USERNAME]/Library/Application Support/Syscoin

Note: the Library directory is hidden by default, you can quickly access this directory by pressing:
CMD + Shift + G
in Finder then typing:
~/Library/Application Support/Syscoin

Using the Syscoin wallet click on the “Send” tab and you’ll be taken to a screen that looks like this:

There are 3 fields which need to be filled in to send Syscoin to someone:

  1. Pay To: Enter the receivers Alias (if they have one) or full wallet address in this input box.
  2. Label: Whatever you enter in this box will be associated with the address in your address book. For example – if you entered “John’s Main Wallet” in the label field, that would be displayed next to his address in your address book.
  3. Amount: This is the amount of SYS that you will be sending. You are given the option to subtract the minimal fee for sending SYS from the amount you are sending by checking the box labeled “Subtract fee from amount.”

After those required fields are filled in, you can send the SYS by clicking the “Send” button at the bottom left of the screen.

Sending Syscoin to Multiple People at Once

You can also pay multiple people different amounts of SYS through this window as well by clicking the “Add Recipient” button. This will insert another row with the 3 required fields (Pay To, Label, Amount)


Sending money to multiple people at once is the same as sending it to a single individual. After you have filled out all of the required fields, hit “Send” to initiate the Syscoin money transfer

There are two ways to receive Syscoin:

  1. Send the individual who you’re requesting money from your Syscoin Alias (or if you don’t have one, your wallet address).
  2. Use Syscoin’s “Request Payment” service.

Using Syscoin’s “Request Payment” feature.

  1. Click on the third tab on the top navigation bar labeled “Receive”. You will then be taken to a screen that has 3 text input boxes labeled: “Label, Amount, Message.” While these are all optional, it does help to fill them out in order to keep better records of who you are requesting payment from, and why you are requesting it.


  2. After those fields are filled out, click “Request Payment.” A URI string will be generated which can then be sent to the individual you are requesting payment from. When the individual you are requesting payment from clicks on the link it will auto-populate their wallet with the amount you’ve requested.


The new Syscoin wallet will aggregate and save all of your payment requests so you can access them at a later time. Each request can be accessed individually under the “Request Payments History” section of the “Receive” tab.


We do not recommend CPU mining Syscoin as the network hash is much too high at this stage. However should you wish to do so, please follow the instructions below.

Solo Mining in the Syscoin wallet

To try solo mining within the wallet click:
Help -> Debug Window -> Console

Then type into the text field the following command to start the miner:
setgenerate true -1

The -1 is the amount of cores to use from your CPU, -1 will use all cores or you can specify 1 or 2 etc depending on how many cores your setup has.

Run the QT-Wallet with -salvagewallet.

On Windows do the following :

Create a shortcut to the Syscoin-QT.exe by right-clicking on the exe file. Then select “Send to” – > Desktop (create shortcut). Go to your desktop, right-click on the shortcut you have just created and select Properties. Make sure you are on the Shortcut tab. Then under target add -salvagewallet to the end of this.

Was C:syscoinSyscoin-Qt.exe
Should now be C:syscoinSyscoin-Qt.exe -salvagewallet

Click OK. Then run the QT-wallet again using the shortcut.

Remember to remove the -salvagewallet after the wallet has been fixed.

On some resolutions lower than 1024×768 the user interface of the Syscoin wallet may be obscured or cut off. To remedy this first double click on the title bar at the top of the Syscoin wallet, this should maximize the wallet.

Now double click on the title bar again- this should restore all visible areas of the wallet to being within the screen dimensions.

If you do not see all of the tabs are the top you can access the missing tabs by clicking on the empty space to the right of the tabs as shown in the screenshots below. This should expose the missing tabs in a new row:


Max Coins: 888 million
Block Time: 60 seconds
Difficulty Algorithm: Dark Gravity Wave v3 (DGW)
Mining Algorithm: SHA256, merge mineable
In the latest Bitcoin core the receiving addresses have been moved to a new location. Because Syscoin now follows the Bitcoin core closely the menus in Syscoin have moved as well.

To locate your receiving addresses select the following menu from the top menu bar: File > Receiving Addresses.

Recieving Addresses

You’ll then be presented with a dialog where you can view your current addresses, and create new ones. Addresses of this format are rather antiquated in Syscoin, and its highly recommended you use Syscoin Aliases instead.


This error message is normal with the first release of Syscoin 2.0 if you’re running a wallet that was converted from Syscoin 1.0. This will appear each time your start the wallet and just means that your transaction history and address book from Syscoin 1.0 will not be correct.

  • All transactions and address book entries created after converting to 2.0 are safe.
  • The team will release an update shortly to remove this message on each startup.



Syscoin aliases replace long complicated coin address with an easy-to-remember string of characters. These aliases can be used across all of Syscoin’s services and make it much easier to send and receive Syscoin.

Aliases are case-sensitive just like addresses so make sure to double check your entries!
Syscoin aliases are unique like domain names, and only one user can own a unique alias at a time. If you do not renew your alias by updating it then after a year it will be returned to the network for others to purchase.


To Purchase as Syscoin Alias, make sure you are on the “Alias” tab on the top navigation.


Once you click “New Alias”, a screen will appear asking you what you want your alias to be and the value associated with it. The value can be anything you want. The max data size is 3.2kb. Both the alias name and value are publicly visible via Syscoin’s alias search.


*NOTE:* Aliases are case-sensitive! The Alias “john_doe” and “John_Doe” are completely different and are NOT interchangeable!

Syscoin services such as Aliases, Certificates and Offers last a year from last update. If you rename or edit an offer, that is considereded an update.

After a year has passed from last update, the owner of the Alias, Certificate or Offer can no longer edit them and no longer controls it. In the case of aliases they are returned to the available pool for other users on the blockchain to purchase.

Aliases are somewhat similar to domains on the internet. Only one person can own an alias but once they have secured it they can transfer ownership to other users.

To transfer an alias which you own to another user you must first get the full public key of the user’s address you which to transfer the alias to.

The recipient can get their public key by navigating to the “Aliases” tab and clicking “New Public Key”. They will need to send you this key so that you can transfer the alias to them.


Once you have the recipient’s public navigate to the “Aliases” tab in your wallet and right click on the Alias you wish to transfer. Select “Transfer” from the menu. In the dialog that appears enter/paste the recipient’s public key and click “Ok” to complete the transfer.



Syscoin offers a decentralized price pegging feature. Price pegging allows merchants to sell their items in values expressed in other currencies – such as USD, CAD, EUR, etc – and then recieve the appropriate quantity of Syscoin at time of purchase to equal the desired amount of the peg currency.

For example: If an item was being sold for $1 USD and the price peg that offer was using had a conversion rate of 10SYS/1USD the merchant would receive 10SYS when the item is purchased.

Price pegs on Syscoin can be created by anyone. The Syscoin team maintains an official price peg that supports several currencies and is the default peg used for all offers. The peg uses the alias ‘SYS_RATES’ and is updated anytime the market moved 5%+/- current market values. The current peg value and history can be viewed at http://peg.syscoin.org.

To create your own price peg first create a Syscoin Alias to represent your peg. When creating the alias populate the alias value with the proper SYS Price Peg JSON formatting:

"rates": [
"currency": "USD", //name of currency displayed in UI and used for RPC calls
"rate": 0.5, //conversion rate- how many SYS to equal 1 unit of the peg currency
"precision": 2 //precision to use on rate value
... additional currency objects

In the “New Offer” dialog change the default value of the “Alias for Exchange Rate Peg” to the alias you wish to use rather than SYS_RATES.

SYS_RATES is the default price peg because it is maintained by the team, when choosing a custom peg make sure you trust the individual that owns the peg as they can influence the value received for the items you sell tied to that peg.

No. You do not need to be online to buy and sell items or for your listing to remain active.

If reselling other user’s items your client will process any sales that have occurred since you were last online.

  1. Click on the “Marketplace” tab on the top navigation bar in the wallet.Selling on the Syscoin decentralized marketplace: Step 1
  2. Click on the “Selling: sub-tab.
    How to list something id
  3. Then click on the “+New Offer” button on the bottom of the Marketplace window.**Note – It is recommended you include a picture of your item for sale. To do this, paste the image URL anywhere in the description box. When Syscoin parses your new offer, it will see that you have an image associated with the offer.
  4. After clicking on “+New Offer” a window will pop up asking for all the details of your offer. It’s important to already have purchased an alias because without one you won’t be able to list new offers.Fill in all of the inputs about your offer, which include:
    • Seller Alias – The alias of the individual you are selling under.
    • Title – The title of what you are listing for sale.
    • Category – The category of your item (e.g. Electronics, Retail. Home & Garden, etc.)
    • Currency – What currency you are selling your item in. Currently, Syscoin supports: USD, EUR, GBP, CAD, BTC, SYS.
    • Price – The price of your item.
    • Quantity – How many copies of the item you have for sale. Syscoin automatically subtracts from the quantity value each time someone buys your item.
    • Certificate (optional) – If you are sending codes for digital goods or you. Certificates can also be used with re-selling on the Syscoin Marketplace.
    • Description – to have an image associated with your offer, you must put the link to the image in the description field.
  5. After filling in all of the required fields, your form should look similar to the image below:
  6. How to sell on decentralized marketplace :Part 3

  7. Once you’ve inputted all the correct information, click “OK” to have your offer be sent to the Syscoin decentralized marketplace. You may not see your offer populate in your “Selling” tab right away as it has to sync with the blockchain. A few minutes after you submit your offer, click the “Refresh” button at the bottom of the window and your offer will appear in your wallet.
  8. Posting items to the Syscoin Marketplace: Part 5

Selling an item using directBTC allows merchants to use Syscoin’s marketplace with minimal exposure to the Syscoin currency itself. Merchants will still need a small amount of SYS to cover listing fees (2-10SYS depending on number of listings) from there all payments are directly received in Bitcoin, no exchanging required.

Items sold using directBTC cannot leverage Syscoin’s more advanced services such as Escrow, Affiliate Sales, etc.

To list an item using directBTC create an offer and in the “New Offer” dialog change the “Accept Bitcoin Only” dropdown to “Yes”. Its important you take note of the seller alias being used for these items, as the private key related to those aliases will be used to claim the funds on the Bitcoin blockchain.

Once the item is listed, its recommended you export the private key related to the seller alias into your Bitcoin wallet. To do this open the debug console using Help > Debug Console. Click on the “Console” tab and in the input at the bottom enter the command dumpprivkey [ALIASNAME] replacing [ALIASNAME] with the alias linked to the directBTC item. You will only need to complete this process once per alias.

The debug console will output the alias private key. Import this private key into your Bitcoin wallet and you’ll now be able to receive all BTC funds related to sales on the Syscoin marketplace.

NOTE: As buyers purchase your items using directBTC you will be able to confirm their purchases using the “Check BTC Payment” located on the “Sold” tab within the Marketplace. It is highly recommended that you manually verify the expected payment has been recieved before delivering goods related to the transaction.

By default, all new offers are set to private for security reasons. They will not show up publicly in the marketplace search without changing them to be a public item. This can be done very quickly and easily by following these steps:

  1. In your wallet, go to the “Marketplace” tab and click on the “Selling” sub-tab. There you will see each one of your offers. Click on the offer you’d like to make public and then click the “Edit” button on the bottom of the window.
  2. How to make Syscoin offers public: Part 1

  3. You will then see the offer you created in a new window where you can edit anything about it, including its visibility. To make your item public, click the drop-down box which is labeled “Private” and select “No”.
  4. How to make Syscoin offers public: Part 2

  5. Click “OK” and your offer will then be publicly visible in the marketplace. As with creating your offer, it will take a few minutes to become visible in the public marketplace search.
By default Syscoin’s affiliate system is disabled for new offers. To enable anyone on the network to resell your item simply right click on the item and select “Manage Affiliates”.
In the “Manage Affiliates” dialog turn OFF exclusive resell mode by clicking the toggle button. Now anyone on the network can resell your item for a small profit, and you still get paid the amount you’ve listed the item for! You are responsible for shipping the item just like any purchase you’ve sold.
To have more control over who can sell your item, and if they get a bulk discount or not, checkout reselling using whitelists.

Locate the item you want to resell in the search results and then either click the “Resell” button at the bottom of the screen or select “Resell” from the right click menu for that item’s row.

In the “Resell Offer” dialog enter your markup. This is an additional percentage added to the price and paid to you when the item is sold. The initial item cost will still go to the root seller, who is also usually responsible for item fulfillment.

An example markup value is 5 for 5%. The minimum value is 0 and the maximum is 500.

Selling a certificate via Syscoin requires a pre-existing certificate! So the first step is to create a certificate you wish to sell. Once you have the certificate, proceed as if you are selling a normal item.

On the “New Offer” dialog use the certificates dropdown to choose the certificate you wish to sell.

Click “Ok” to list the item.

Once your item is purchase and the payment the certificate will automatically transfer to the buyer. If the buyer chooses to use escrow it is the seller responsibility to transfer the certificate, after which the buyer should release payment.

Syscoin’s Affiliate system allows for complex reselling structures. The option for an item to be resold or not is entirely on the root seller. If the root seller chooses to enable reselling they have many options in terms of who can resell, and at what price. Reselling can greatly extend the reach of one’s sales.

Open the “Manage Affiliates” dialog by selecting the desired item and click the “Manage Affiliates” button. Reselling is OFF by default (Exclusive Mode ON with no whitelist entries).

Click the “Add” button for each of the reseller you want to add. In the “Add Affiliate” dialog populate the alias you want to enable as a reseller and the discount level you want that alias to receive (good for wholesale situations). Click “Ok” to complete adding the affiliate.

The “Manage Affiliates” dialog is the one stop shop for managing all affiliate capabilities on a per-item basis.

  1. To buy items from the Syscoin marketplace, click on the “Marketplace” tab in the Syscoin Wallet. Then, click on the “Search” sub-tab.
  2. How to buy an item off the Syscoin Marketplace: Part 1

  3. To see all items publicly listed in the marketplace, click the “Search” button on the far right-hand side. Clicking search without entering a search query will display all the publicly visible items in the marketplace.
  4. How to buy from the Syscoin marketplace: Part 2

  5. To limit the scope of items that are being displayed and to refine your search results, you can use the “Search” function. The search accepts RegEx so using the search query “^name” will return all offers starting with “name.” It should be noted that the search functionality is case sensitive, so if I wanted to search for the “Syscoin Navy T-Shirt” and used the search query “syscoin” with a lowercase “s”, it would not return a result.
  6. When you know which offer you’d like to purchase, double click on it. You will then be shown the following prompt:
  7. How to buy from the Syscoin marketplace: Part 3

  8. Once you select “OK”, you will be taken to the actual offer itself. In this example, we are trying to purchase the “Dyson Vacuum”
  9. How to buy items from the Syscoin Marketplace: Part 4

  10. The pertinent fields that you, the buyer, need to fill out are: Quantity & Notes. The Notes input is where you provide the seller with your shipping address and any other information regarding the shipment of your item.
  11. Once you have selected the quantity of items you’d like to purchase and inputted your shipping information, click the “Accept Offer” button at the bottom of the page.
  12. That’s it! You’ve just purchased a new Dyson vacuum cleaner!
Syscoin’s escrow system uses third party arbitration to ensure safe transactions. The option to enable escrow is totally up to the buyer and is optional. If the arbiter is needed to resolve the transaction, the buyer will automatically be charged a 0.5% fee which goes to the arbiter.

To use escrow, after clicking the “Accept Offer” button “Buy” tab check the checkbox for escrow and enter the Syscoin Alias of a mutually trusted third party. In most situations the arbiter’s intervention will not be needed but they’re there to ensure both parties act according to the purchase agreement.

Once the merchant has delivered your items, navigate tot he “Escrow” tab and select the escrow related to the purchase. Click the “Manage Escrow” button located at the bottom of the screen or in the right click menu. If everything has been delivered to satisfaction, click the “Release Escrow” button.

If you have issues with the delivery, you can contact the seller directly using Syscoin’s Encrypted Messaging system. If the buyer and seller cannot come to an amicable agreement the arbiter can be contacted, review the details of the dispute, and resolve the matter either refunding the buyer, or releasing the funds to the merchant.

If you’re someone who is well trusted in the community or even well trusted amongst a single buyer/seller you can earn up to 0.5% of transaction’s total cost by becoming an escrow arbiter.

To become a Syscoin Escrow Arbiter simply purchase a Syscoin Alias and publish it to the community. Escrows that you’re selected for will appear in the “Escrow” tab of your Syscoin wallet. You will not be paid unless your intervention is required, but in the situation it is required you will earn 0.5% of the total transaction value.

Purchasing an item using directBTC on the Syscoin Marketplace allows buyers to enjoy the marketplace with zero need to purchase Syscoin. Locate the item you wish to purchase and proceed through the normal purchase flow.
After entering your details click “Accept Offer” as you would with any item. Rather than seeing the normal purchase dialog which gives you the option to use Syscoin’s Escrow service you will see a dialog prompting you to send BTC to the merchant’s Bitcoin address. This Bitcoin address is actually contained within the merchant’s Syscoin wallet.

You can either scan the QR code to make payment using a mobile device or click “Open BTC Wallet” to complete the payment using a locally installed Bitcoin wallet. Once the Bitcoin payment is complete copy and paste the Bitcoin transaction id into the Syscoin “Offer Accept” dialog and click “Check Payment”. You will need a few seconds until your Bitcoin payment has been relayed by the Bitcoin network, and then you will be presented with a dialog confirming that your payment was detected on the Bitcoin blockchain. Your purchase is now complete! Sit back, relax, and wait for the merchant to deliver your item.

Private items are are items that are not visible via Syscoin’s public market search function. Private items can still be located by their identifier, and are visible from the listing functions on the Syscoin wallet that owns the listings, but cannot otherwise be seen from the outside via the wallet.

To purchase a private item navigate to the “Marketplace > Buy” tab/subtab and enter the offer id of the private offer you wish to purchase. This identifier should be provided by the merchant.

Click “Lookup Offer” and as long as enough quantity remain, you’re free to purchase using the normal purchase flow.

To add an an image to your item listing simply upload the image you wish to associate with your item to any public image repository. Then paste a link to your image on new line within the item description as shown below; it can be at the top or at the bottom.


At the moment the Syscoin wallet only displays one image per listing but this will be extended by the upcoming Blockmarket release (See roadmap).

Digital Certificates

Digital Certificates on the Syscoin blockchain are useful for all kinds of things from storing bits of data to creating data that can be sold and automatically transferred upon purchase- all with proveable ownership via the blockchain.

To create a new Digital Certificate click on the “Certificates” tab. Then click “New Certificate”.


Populate an alias to own the certificate, a title, and data for the certificate. You can also choose for the certificate to be private. If private the certificate data is encrypted and can only be read by the owner. Private certificates still appear in search but their data can only be seen by the owner. If the data is not private, it can be seen in search by the public.


After populating all the details click “Ok” to create the certificate.

Encrypted Messaging

  1. To send an encrypted message directly from the Syscoin Wallet, click on the “Messages” tab. You will then be brought to a screen where all of your incoming messages are held. To start a new message, click the “New Message” button at the bottom of the window.


  2. After clicking on “New Message”, a compose window will appear. Choose the Alias you’d like to send your message from and the alias of the individual you want to send your message to. Then enter a subject line and the message you would like to send. After these fields are filled out, click “OK” to send your message.


To view Encrypted Messages received on the Syscoin platform use the wallet UI to navigated to the “Messages” tab.

Click on “Inbox” to view your messages, or “Outbox” to view your sent messages. You can also use the “Refresh” button to verify the information you’re looking at is up to date. If your wallet is encrypted, there are extra measures in place to protect your message content from prying eyes, please read this FAQ for more info.


If your wallet is encrypted, message content is protected until you unlock your wallet. You will also need to unlock your wallet to send messages. To do this open the console vie Help > Debug Console. Navigate to the “Console” tab. In the textinput at the bottom of the screen enter:

walletpassphrase [password] [time]

Replace [password] and [time] with your wallet password and the time in seconds for which you want your wallet to be unlocked. After it is unlocked your message content will be visible (you will need to click the refresh button after unlocking), and you will also be able to send messages.

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