Question 1

What is Based?

Accepted Answer

Based is a crypto trading and spending platform that allows you to trade spot and perpetual futures on Hyperliquid. You can also spend your crypto at over 70 million merchants worldwide across 160 countries.

Question 2

Which countries are not supported?

Accepted Answer

We do not provide services to users in the following countries: Afghanistan, Albania, Algeria, Bangladesh, Barbados, Belarus, Bhutan, Bosnia and Herzegovina, Botswana, Burkina Faso, Burundi, Cambodia, Cameroon, Central African Republic, China, Cuba, Democratic Republic of the Congo, Ecuador, Eritrea, Ethiopia, Gambia, Gaza Strip, Grenada, Guinea, Guinea-Bissau, Haiti, Iran, Islamic Republic of, Iraq, Jamaica, Jordan, Kenya, Kosovo, Lebanon, Liberia, Libya, Madagascar, Mali, Morocco, Mozambique, Myanmar, Nepal, Nicaragua, Niger, Nigeria, North Korea, North Macedonia, Pakistan, Qatar, Russian Federation, Senegal, Seychelles, Slovenia, Solomon Islands, Somalia, South Africa, South Sudan, Sudan, Suriname, Syria, Tanzania, Togo, Tonga, Trinidad And Tobago, Turkey, Turks and Caicos Islands, Uganda, Ukraine, Vanuatu, Venezuela (Bolivarian Republic of), Vietnam, West Bank (Palestinian Territory, Occupied), Western Sahara, Yemen, Zimbabwe.

Question 3

How do I apply for a Based card?

Accepted Answer

New Based Card applications are closed at the moment.

Question 4

What is the difference between Based Wallet and Based Account?

Accepted Answer

Based Wallet is the main interface for Based which allows you to trade crypto tokens on the go. It is permissionless and you own the private key to access this wallet. Based does not store or keep the key to the wallet. Based Account is a permissioned account that is connected to banking systems and Visa debit card. KYC is required for Based Account and is only supported in some countries.

Question 5

Is it safe to scan my Hyperliquid QR code for agent access?

Accepted Answer

Yes — it's 100% safe. Agent accounts cannot withdraw or transfer funds. They can only execute trades.

Question 6

If I open a perpetual position using Based, will it appear on Hyperliquid's website?

Accepted Answer

Yes. As long as you're connected to the same wallet, your positions will reflect across both platforms.

Question 7

What's the difference between using Based vs trading on Hyperliquid's desktop site?

Accepted Answer

Functionally, it's the same. The key differences is that you earn points when trading through Based. Trading fees remain unchanged when using an agent wallet.

Question 8

What's the difference between a Based wallet and an agent wallet?

Accepted Answer

Agent Wallet:  Limited access — no withdrawals, transfers, or staking. Based Wallet:  Full access — including staking, fund transfers, and withdrawals directly from the app.

Question 9

How do I earn points?

Accepted Answer

You earn points when: You trade on Hyperliquid (via Based or directly on Hyperliquid) You refer new users who trade By spending with a Based Visa Card

Question 10

What are points for?

Accepted Answer

Points will count toward future rewards on Based.

Question 11

Is XP tradeable?

Accepted Answer

No. XP is currently off-chain and non-tradeable — they are tied to your account.

Question 12

I have more questions about trading on Hyperliquid. Where can I learn more?

Accepted Answer

Check out the official Hyperliquid docs here:   https://hyperliquid.gitbook.io/hyperliquid-docs/trading/contract-specifications

Question 13

How is funding rates on perps calculated?

Accepted Answer

It is determined by Hyperliquid's algorithm here:   https://hyperliquid.gitbook.io/hyperliquid-docs/trading/funding

Question 14

What is Based Account?

Accepted Answer

Based Account (also referred to as "Cash" in Based) is a permissioned account within Based that connects to traditional banking systems and enables your Visa debit card functionality. It requires KYC (Know Your Customer) verification and allows you to convert your cryptocurrency holdings into spendable fiat currency. The Based Account acts as the bridge between your crypto assets and the global payment network, enabling you to spend at millions of merchants worldwide.

Question 15

What cryptocurrencies can I deposit?

Accepted Answer

Based supports deposits of USDT, USDC, XSGD, and SOL on Solana, Polygon and Arbitrum. USDC deposit on HyperCore is available now in alpha testing (only through mobile app).

Question 16

How does the crypto-to-fiat conversion work?

Accepted Answer

When you make a purchase with your Based card, we automatically convert the required amount from your cryptocurrency balance to the merchant's local currency in real-time at the current market rate. The conversion is done seamlessly, and the merchant receives fiat currency as with any normal card transaction.

Question 17

How secure is Based?

Accepted Answer

Security is our top priority. Based employs multiple layers of security: Funds are secured using institutional-grade key management software from Fireblocks Real-time transaction monitoring for fraud detection Ability to freeze your card instantly via the app For more details, please visit our   Security page .

Question 18

What is Based Wallet?

Accepted Answer

Based Wallet is a software that alows users to create a noncustodial, unhosted wallet so that you can store locally on your own device. Based does not hold custody of your funds within the Based Wallet feature.

Question 19

How do I deposit funds into my Based Wallet?

Accepted Answer

To deposit funds into your Based Wallet: Open the Based and navigate to your wallet Select the cryptocurrency you want to deposit Copy your unique deposit address or scan the QR code Send your crypto from an external wallet or exchange to this address Your funds will appear in your Based Wallet after network confirmations

Question 20

How can I contact support?

Accepted Answer

We offer several support channels: In-app chat support available during business hours Email support at support@basedapp.io FAQ section in our app and website

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