Once you have been added as a toco beta tester you can sign up on either our mobile or web app.
How to set up your wallet:
You will pay a 1% transaction fee when you pay in tocos. It is free to create a toco wallet and there are no monthly account fees.
Setting up a toco account is similar to opening a bank account, and we are legally required to confirm your identity. To verify your wallet, you will need your ID, passport or Driver’s license and proof of address. Once you have created your wallet select "verify" and follow the in-app prompts.
To add toco currency to your wallet:
To pay in tocos:
Yes, you can receive payments in toco. Select ‘Receive toco’ to display your wallet’s QR code, which others can scan to send you tocos. If you are not in the same physical location, you can send them your wallet key.
Only 6 seconds!
Unlike most payment systems that rely on the speed of connection to process transactions, toco has a set time that it takes for a payment to be uploaded, registered and verified securely.
This feature will be available when we start beta testing. Here are the steps you will follow:
These are the steps you will follow to switch your tocos back to your currency of choice.
Yes! The toco app requires a passcode before any transaction can be completed. This prevents others from making transactions on your device, as your passcode should be known only to you. If you have a Face ID or fingerprint-enabled device, you can use these in lieu of your passcode. As an additional security measure, if someone attempts to access your wallet from a new device, they would be required to enter your 12 secret words. As long as you keep your passcode and secret words private, you won’t have any security issues.
When you create your toco wallet you are given 12 secret words. These are 12 completely random English words that you need to please save in a safe place. If you ever want to create your toco wallet on a new device or if you forget your passcode you will need to enter your 12 secret words.
Please keep in mind that you are the only person in the whole world who has these 12 secret words because you are the only person with access to your wallet. Toco does not keep a backup of these words for you.
Toco securely encrypts all personal details, including the card and banking information you use to exchange tocos for your local currency. These details are never shared and they are not stored on our systems. Your card details are encrypted and only used in combination with your passcode, fingerprint, or Face ID when an exchange is made.
You can reset your passcode by entering your 12 secret words.
If you enter your passcode incorrectly 10 times in a row, your toco app will be locked. To unlock it, you will need to use your 12 secret words to reset your passcode. This process will be explained automatically via an email from our team when you select the option to reset your passcode.
One of the benefits of toco is that you take complete control of your own finances and your wallet essentially acts as your own bank. The responsibility related to this, however, means that we cannot recover or change your 12 secret words. If someone else has access, we recommend you create a new wallet and transfer all existing toco.
No, toco will never send you SMSes or emails asking you to confirm your 12 secret words for back up purposes.
Carbon Mitigation Assets is the inclusive term for portfolios of carbon credits, carbon offets and avoidances. A carbon credit is a type of certificate that represents 1 tonne of carbon dioxide equivalent that was removed or kept out of the atmosphere. The purpose of a carbon credit is to provide a monetary incentive for the reduction of greenhouse gass pollution.
The Carbon Reserve purchases and verifies Carbon Mitigation Assets and then mints the equivalent amount of tocos.
Commodity-representative money is any type of money that represents a fixed quanity of a commodity. The most well-known of these was the gold standard, under which the world operated until 1971, where the money supply was convertible into a fixed amount of gold. Unlike fiat money (the money we use today) that does not have intrinsic value, commodity-representative money, has its value derived from the assets it represents, for example tradable commodities such as gold, or in our case carbon mitigation assets.
The Carbon Reserve is a Swiss-based not-for-profit foundation that verifies and mints tocos.
Carbon markets refer to the markets in which carbon credits, allowances and other instruments are traded between countries,companies and individuals. The carbon market is made up of the volunatry market and the compliance market.
It is free to register with toco. You will pay a 1% transaction fee when you send someone tocos.
Business accounts can be opened using either Chrome or Firefox on a computer. Note that you can sign up for a personal toco wallet on our mobile app, but business accounts must be opened through our web app.
To sign up, follow these four simple steps:
We use the Polkadot browser extension to authenticate all toco transactions. It allows for multi-factor authentication to ensure that all your transactions are completely secure.
The 12 word seed phrase that Polkadot gives you is the key to your toco wallet. Make sure to record and store it securely, as it is required to access your account on a new device or to reset your password.
The Carbon Reserve is subject to Swiss financial market regulation.To comply with regulations and maintain the integrity of our payments system, all businesses must go through KYB (Know Your Business) verification.
To add toco currency to your wallet:
It is free to receive payments in tocos.
If you are underpaid, you can run a second transaction for the additional amount. If you are overpaid, it is your responsibility to reimburse the customer. Toco transactions cannot be reversed.
Not at this time. In relation to an existing point of sale system, toco transactions can be treated as cash sales, but with the benefit that all transactions are recorded in your digital wallet.
Toco will provide businesses in our pilot programme with printed QR codes. You can also access your code digitally, at any time. From your wallet dashboard, click the ‘Receive’ button. This will open your QR code and give you the option to download it.
Every toco wallet has a unique wallet key, which can be downloaded or printed as a QR code. Your customer will simply scan your QR code with their toco app, enter the amount they owe and process the payment.
Note that customers can also pay you from anywhere if you share your wallet key with them.
These are the steps you will follow to switch your tocos back to your currency of choice.
This feature will be available when we start our beta test. Here are the steps you will follow:
Toco will never ask for your personal details, passcode, or 12 secret words outside of the app.
If you forget or lose your 12 Secret Words, you will be unable to access your wallet on a new device or reset your passcode, so it is imperative that you keep it recorded in a safe place. If someone else gains access to your seed phrase, we recommend creating a new wallet and transferring all your tocos to it. You can also contact support@tocos.org to close the compromised account.
You can reset your passcode by entering your "12 Secret Words". This is the seed phrase you received when you created your wallet.
Toco securely encrypts all personal details, including the card and banking information you use to exchange tocos for ZAR. These details are never shared and they are not stored on our systems. Your card details are encrypted and only used in combination with your passcode, fingerprint, or Face ID when an exchange is made.
Yes! The toco app requires a passcode before any transaction can be completed. This prevents others from making transactions on your device, as your passcode should be known only to you. If you have a FaceID or fingerprint-enabled device, you can use these in lieu of your passcode. As an additional security measure, if someone attempts to access your wallet from a new device, they would be required to enter your 12-secet words. As long as you keep your passcode and secret words private, you won’t have any security issues.
If you enter your passcode incorrectly 10 times in a row, your toco app will be locked. To unlock it, you will need to use your 12 secret words and reset your passcode. This process will be explained automatically via an email from our team when you select the option to reset your passcode.
The carbon market refers to the market in which carbon credits, allowances and other instruments are traded between countries, companies and individuals. The carbon market is made up of the volunatry market and the compliance market.
The Carbon Reserve is a Swiss-based not-for-profit foundation that verifies and mints tocos.
Commodity-representative money is any type of money that represents a fixed quantity of a commodity. The most well-known of these was the gold standard, under which the world operated until 1971, when the money supply was convertible into a fixed amount of gold. Unlike fiat money (the money we use today) that does not have intrinsic value, commodity-representative money, has its value derived from the assets it represents, for example tradable commodities such as gold, or in our case carbon mitigation assets.
'Carbon Mitigation Assets' or CMA's is the inclusive term for portfolios of carbon credits, carbon offets and avoidances. A carbon credit is a type of certificate that represents 1 tonne of carbon dioxide equivalent that was removed or kept out of the atmosphere. The purpose of a carbon credit is to provide a monetary incentive for the reduction of GHG pollution.
The Carbon Reserve purchases and verifies Carbon Mitigation Assets and then mints the equivalent amount of tocos.