Visit any number of communities that have their own currency and you’re going to see these words being used. Here’s a breakdown of what they are and why the difference is important to keep track of.
On-Chain Tokens
These are what you’re most likely used to when transacting cryptocurrency. On-Chain means what it sounds like. On the blockchain. Tokens in your hardware wallet, MetaMask or any other number of wallets are stored on the blockchain. I’m sure if you’re here, you have an idea about what the blockchain is already.
Off-Chain Tokens
Tokens stored off-chain are tokens that you’ve earned from post rewards or tips. These tokens are not stored in your wallet. They do exist, but they’re technically “inside” the bot, living in a database and assigned to your username. This is how the bot is able to execute !tip commands on your behalf.
If you want them to truly be in your possession, you will need to withdraw them to your wallet address so that you hold the keys to your tokens. You won’t, however, be able to use those tokens any longer to perform !tip commands to reward other users.
How Can I See My Off-Chain Balances?
If you wish to see your Off-Chain balances, you can visit our Off-Chain Lookup Tool and simply enter your Reddit Username to see a list of tokens you hold off-chain.
