How To Claim A Factbar: The Complete Guide

By
Thu, 24 May 2018

Factbars are unique digital collectibles that have become popular with users who claim these cryptographic tokens, allowing them to own representations of facts that have gone through a process of research and verification. If you're excited about owning Factbars but have never made this type of purchase with Ethereum before, this step by step guide can walk you through signing up and claiming your first Factbar. Once you've familiarized yourself with the process, you can go to the Factbar website to get started. This video was made with Ezvid Wikimaker.

What Are The Basic Steps To Claiming On Factbar?

  1. Add MetaMask to your browser
  2. Sign up for MetaMask
  3. Sign up for a Coinbase account
  4. Add funds to MetaMask using Coinbase
  5. Create a Factbar claiming name
  6. Find the Factbar you want and click "Claim"
  7. Submit the transaction on MetaMask
  8. Wait for the transaction to go through
  9. Your name will appear next to your claimed fact on the Leaderboard

Do I Need To Provide A Credit Card To Claim Factbars?

Factbar doesn't require any payment information like a credit card or bank account on its website. Instead, it operates through a client like MetaMask. MetaMask links an Ethereum account to your browser. On Coinbase, you can use a debit card or bank account to purchase cryptocurrency. MetaMask links to Coinbase to supply Ethereum to your account. Factbar then links to MetaMask. Any transactions you make on Factbar must be approved in MetaMask, and your Factbar account is tied to your Ethereum address. Any funds available to you need to be withdrawn using MetaMask or another Ethereum client.

How Do I Get The Money When Someone Claims My Factbar?

  1. Go to the Leaderboard page
  2. Click the link in the blue box at the top to withdraw funds
  3. Submit the transaction in MetaMask
  4. When the pie chart graphic appears, your balance should be updated with the withdrawn funds

What Is Ethereum?

In Depth

By now you've visited the Factbar website, and you may have even submitted a fact yourself using the simple form. But if you really want your commitment to knowledge to pay off, you need to get in the game and start claiming Factbars. We'll walk you through how this process works step by step so you can participate and claim confidently.

Before you get started, make sure you've read the Factbar Documentation page on the site. It will explain exactly how the Smart Contract works, the withdrawal pattern, and the system by which Factbars are reviewed and edited. Once you've got that down and have checked out the Factbars on the Leaderboard, you're ready to sign up.

While you don't need an account to submit Factbars, you will need to sign up in order to claim. Notice that on the Leaderboard page, at the top, you will see a message that explains the requirements. You need to be using a desktop computer running the Firefox or Chrome browser. The first thing you'll need to do is install MetaMask by clicking on the icon in the blue box at the top of your browser window.

Notice that on the Leaderboard page, at the top, you will see a message that explains the requirements.

On the MetaMask website, feel free to read up on MetaMask, and even watch the introduction video. You should then select the link for the browser you're running, whether that's Google Chrome or Firefox. Click the button to add the extension, and when prompted, accept, and it will be added. You'll see confirmation in the Chrome Store, and the fox icon will now appear in the upper right corner of your browser.

When you click on the icon, you will see the privacy notice displayed. You can then select "Accept," and you will see the terms of use. Once you have read through and understand the terms, click "Accept" again, and you will be taken to the signup page. You can import an existing login, or get more information about how it works by clicking the question mark. Choose a secure password, enter it twice, and then click "Create" to move on.

You should then see a page that says "Vault created" along with 12 seed words. These 12 words are your way to restore your account, so you need to write them down and keep them protected. You can save them as a file, copy them to another program, or use a pen and paper. However you do it, make sure they are secure, then click the link to indicate that you've copied them.

These 12 words are your way to restore your account, so you need to write them down and keep them protected.

On your main account page, among other items displayed is your balance. If it's at zero, you will have to add to it using the "Buy" button. You'll see that there are options for purchasing, one of which is Coinbase. To continue with this method, select it and click the green "Continue to Coinbase" button.

Once on the Coinbase purchase page, you can select the amount you want to buy. Enter your email address, then click "Continue" to move on. If you have a Coinbase account, you'll be asked to enter your password. If not, you need to give your full name and the state in which you live. Accept the terms and conditions, and enter the code from the two-factor authentication email. You'll have to repeat this process with your phone number, and enter that code as well.

Coinbase will then confirm your devices, but may ask for additional information on their website to confirm your identity. You can also just go to Coinbase.com at any time to sign up that way. If you're interrupted and need to come back later, all the info you've already confirmed will be saved, even if you didn't get to the password creation step. Just go to the login page, select the "Forgot password" option, enter your email, and confirm it to log in for the first time.

If you're interrupted and need to come back later, all the info you've already confirmed will be saved, even if you didn't get to the password creation step.

When you log in to Coinbase, you'll be taken to your dashboard, where you can add a payment method. Once you've done that, go back to MetaMask and repeat the steps to make your purchase. When you're done, the Ethereum will be added to your account. You'll now be able to see your balance in MetaMask.

When you return to the Factbar website, you'll now see that the message at the top has changed, instructing you to sign up. On the signup page, you'll need to select a claiming name. This will be your unique handle on the Factbar site, and will be associated with your Ethereum address. Once you've entered a name of 24 or fewer characters, you can read the terms of use before accepting them and registering your new name.

You'll be returned to the Leaderboard, with a message that you are now ready to claim. On the Leaderboard, you'll see a list of Factbars along with their simulations. You'll also see the current claimant in possession of that Factbar, along with the price, both in Ethereum and its approximate equivalent in dollars. There are two actions available, "Claim" and "View."

You'll be returned to the Leaderboard, with a message that you are now ready to claim.

If you select "View," you'll be taken to that Factbar's page. You can see many visual representations, along with the history of that Factbar, and who claimed it. You can also see the references used in its creation, and participate in the editorial process. If this is the one you've had your eye on, you can use the "Claim" button at the top. You can also select "Claim" on the Leaderboard page to initiate your claim.

A MetaMask tab will appear to show you the transaction details, including the amount and the gas limit and price. You'll see the maximum transaction fee below that, and the max total, which is the greatest amount you would pay for the transaction. If you have second thoughts, you can hit "Reject," or reset it for an updated quote. When you've made your final decision, you can hit "Submit" to initiate the transfer.

You'll now see that the pending transaction appears in the "Sent" column of your MetaMask account. You may have to wait a while as it processes, or you can up the gas price if you want to speed up the process. If you click on the transaction, you'll be taken to an Etherscan page with the full information available while confirmation is pending, including the estimated time remaining.

You may have to wait a while as it processes, or you can up the gas price if you want to speed up the process.

If you don't want to wait and the transaction seems to be taking too long, you can increase the gas price. Increasing the gas price or limit will cause your max transaction fee and max total to go up, meaning the transaction could cost you more, but it will go through faster and increase the likelihood that your claim is successful. You'll see the pie chart icon when the transaction has completed.

When the transaction is complete, you'll have an updated balance in MetaMask. Back at the Leaderboard, you'll see a message that you have active claims. You'll also notice that your name is now listed as the claimant of your Factbar. The price has also been updated for anyone who wishes to claim it from you by the same process. If you select the active claims link, you'll be taken to a page for your account showing the details of your transaction history along with the estimated time until simulations have been updated with your name.

The amount of time necessary for the simulations to render will grow faster as the process continues to improve. You may download these videos and images for use on your personal website, in YouTube videos, or to display on social media. Seeing them can drive traffic to your Factbars and increase the amount of times people claim them from you, earning you a profit.

Seeing them can drive traffic to your Factbars and increase the amount of times people claim them from you, earning you a profit.

If your Factbar is highly sought after, you may find that it will quickly be claimed by someone else. When one of your Factbars is claimed, you'll see a message at the top of the Leaderboard page that you have funds available for withdrawal. You'll also notice that the claimant name on that Factbar has changed, as has the price. The new owner's name will appear on any graphics, but yours will appear in the history of that Factbar. To receive the funds, you must click the link to withdraw them.

You will be shown a MetaMask window where you can confirm the transaction. Just like when you claimed your Factbar, you can hit "Submit" to initiate the transfer. You will see the pie chart symbol as confirmation that it has gone through, along with an updated balance.

If you click on the transaction and look at the Etherscan page, you'll see that it appears to be for 0 Ether. That's because the Ethereum transaction must be initiated by you in order for the withdrawal to be complete. Note the gas price, which is paid by your account. However, the withdrawal was then initiated, so your balance will increase as a result. The funds will not appear in your account unless the Ethereum transaction has successfully been completed.

The funds will not appear in your account unless the Ethereum transaction has successfully been completed.

You've now completed the process to claim your first Factbar. You can repeat these steps to make other claims, and replenish the funds in your account if necessary. Should one of your Factbars be claimed by someone else, you can always reclaim it, or withdraw the funds using the steps shown. Claiming is the first step toward building a solid collection that displays your worldview through a stable of facts with your stamp of approval on them.