Understanding Tokens
A complete guide to crypto tokens for people new to the space. Learn about wallets, addresses, FET, BNB, and how to use MetaMask.
What You'll Learn
What Are Tokens?
Think of tokens like digital coins that exist on a blockchain (a shared, public ledger).
| Term | What It Means |
|---|---|
| Token | A digital asset on a blockchain (like digital money or points) |
| Wallet | Software that holds your tokens (like a digital bank account) |
| Address | Your unique identifier for receiving tokens (like an account number) |
| Private Key | Your secret password that controls your wallet (NEVER share this) |
| Transaction | Moving tokens from one address to another |
| Gas Fee | A small fee paid to process transactions (paid in the network's native token) |
Understanding Blockchains
A blockchain is like a shared spreadsheet that thousands of computers maintain together. No single person controls it, and once something is written, it can't be changed.
Different blockchains are like different countries — each has its own currency, rules, and infrastructure:
| Blockchain | Native Token | Known For |
|---|---|---|
| Ethereum | ETH | The original smart contract platform |
| BNB Smart Chain | BNB | Faster and cheaper than Ethereum |
| Fetch.ai Network | FET | AI agent infrastructure |
| Bitcoin | BTC | The original cryptocurrency |
- Network/Blockchain = The infrastructure (like the postal system)
- Token = The asset that moves on that infrastructure (like letters and packages)
Some tokens (like FET) exist on MULTIPLE networks. Same token, different "postal systems."
How FET Works on BNB Smart Chain
This is the key concept that confuses most beginners: FET exists on multiple blockchains.
| Network | Token Version | Use Case |
|---|---|---|
| Fetch.ai Network | Native FET | Agent-to-agent payments, staking |
| BNB Smart Chain | FET (BEP-20) | Trading, DeFi, AgentLaunch |
| Ethereum | FET (ERC-20) | Trading, DeFi |
Why AgentLaunch Uses BSC
Low fees
Transactions cost fractions of a cent (vs $5-50 on Ethereum)
Fast
3-second block times (vs 12+ seconds on Ethereum)
Wide adoption
Easy to trade on PancakeSwap and other DEXs
MetaMask compatible
Uses the same wallet as Ethereum
The Two-Token System
On BSC, you need two tokens to do anything:
Like gasoline for your car. You need it to do anything on the network.
The currency used in the Fetch.ai/AgentLaunch ecosystem.
TFET and tBNB Explained
We use two tokens on the BSC Testnet for testing:
tBNB (Test BNB)
- What: Native token of BSC Testnet
- For: Paying gas fees (transaction costs)
- Value: None (play money for testing)
- Mainnet: BNB (real value)
TFET (Test FET)
- What: Test version of the FET token
- For: Deploying agents, trading tokens
- Value: None (play money for testing)
- Mainnet: FET (real value)
tBNB = Pays for transaction processing (like postage stamps)
TFET = Used in the AgentLaunch platform (the actual money you're sending)
You need BOTH: tBNB to pay the "postage" and TFET to do things on AgentLaunch.
Understanding Wallet Addresses
A wallet address is like a bank account number, but public and permanent.
Example address:
0x742d35Cc6634C0532925a3b844Bc9e7595f8dE21- Always starts with
0x - 42 characters total
- Mix of numbers (0-9) and letters (a-f, A-F)
Address
- Share it freely
- Like your email address
- If stolen: Nothing happens
Private Key
- NEVER share
- Like your password
- If stolen: You lose everything
Setting Up MetaMask
MetaMask is the most popular browser wallet. Follow these steps to get started:
Install MetaMask
Go to metamask.io, click Download, choose your browser (Chrome, Firefox, Edge, or Brave), and add the extension.
Create a Wallet
Click the MetaMask icon, click 'Create a Wallet', and set a password. CRITICAL: Write down your 12-word Secret Recovery Phrase on paper and store it safely.
Find Your Address
Click the MetaMask icon. Your address is shown at the top (starts with 0x). Click it to copy the full address.
Adding BSC Network to MetaMask
By default, MetaMask only shows Ethereum. Add BNB Smart Chain using ChainList:
Open ChainList
Go to chainlist.org with MetaMask unlocked.
Enable Testnets
Check the 'Include Testnets' checkbox at the top of the page.
Add BSC Testnet
Search for 'BSC Testnet' or '97', find 'BNB Smart Chain Testnet', click 'Add to MetaMask', and approve.
Manual Network Details
| Field | BSC Testnet | BSC Mainnet |
|---|---|---|
| Network Name | BNB Smart Chain Testnet | BNB Smart Chain |
| RPC URL | https://data-seed-prebsc-1-s1.binance.org:8545/ | https://bsc-dataseed.binance.org/ |
| Chain ID | 97 | 56 |
| Currency | tBNB | BNB |
| Explorer | testnet.bscscan.com | bscscan.com |
Adding TFET Token to MetaMask
MetaMask won't show your TFET balance until you add the token:
Switch to BSC Testnet
Make sure you're on the BSC Testnet network in MetaMask.
Import Token
Click 'Import tokens' at the bottom of the asset list.
Enter Contract Address
Paste the TFET contract address. Token Symbol and Decimals should auto-fill.
TFET Contract Address (Testnet):
FET Contract Address (Mainnet):
Common Questions
Why is my balance showing 0?
Wrong network (check you're on BSC Testnet), token not added (import TFET contract), or transaction still pending.
What's the difference between testnet and mainnet?
Testnet uses free play money (TFET, tBNB) for testing. Mainnet uses real tokens (FET, BNB) with real value.
Can I convert testnet tokens to real money?
No. Testnet tokens have no value and cannot be exchanged for mainnet tokens or real money.
I sent to the wrong address!
Unfortunately, blockchain transactions are irreversible. Always double-check addresses and send small test amounts first.
Do I need FET on the Fetch.ai network too?
For AgentLaunch: No. Everything happens on BSC. Agents on Agentverse have their own wallets handled by the platform.