Frequently Asked Questions
Below you’ll find some of the most frequently asked questions about buying cryptocurrency.
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.The network is peer-to-peer and transactions take place between users directly through the use of cryptography, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
What is a Bitcoin address?
A Bitcoin address is the public address of your Bitcoin wallet. To obtain this public address, you must create an electronic wallet (Wallet) which will contain two addresses: a private address and a public address.
What is The Best Bitcoin Wallet?
The best Bitcoin wallet is the one that ensures your Bitcoin are safe, secure and that you have complete control of your private keys. Use Jaxx to hold, control and trade your Bitcoin for Ethereum, or any of a wide variety of other blockchain based cryptocurrencies.
How Long Does It Take Until I’ll Receive My Bitcoin?
Once the clients ACH payment has been secured it will take up to 10 business days for an exchange to process the buy request.
What Is a Bitcoin Address?
A Bitcoin address is a single-use token. Like e-mail addresses, you can send bitcoins to a person by sending bitcoins to one of their addresses. However, unlike e-mail addresses, people have many different Bitcoin addresses and a unique address should be used for each transaction.
What Is a Bitcoin Exchange?
A bitcoin exchange is a digital marketplace where traders can buy and sell bitcoins using different fiat currencies or altcoins. A bitcoin currency exchange is an online platform that acts as an intermediary between buyers and sellers of the cryptocurrency.
What Bitcoin Mining?
Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining.
What Is a Litecoin?
Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.
What Is a Ethereum Coin?
Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
What Is Bitcoin Cash?
Bitcoin Cash (BCH) is an upgraded version of the Bitcoin Core software. It was released on August 1st, 2017. The main upgrade offered by Bitcoin Cash is an increase of the blocksize limit to 8mb. This effectively allows miners on the BCH chain to process more payments per second. This makes for faster, cheaper transactions and a much smoother user experience.
Frequently Asked Questions About Ripple
Below are some of the most Frequently Asked Questions about Ripple.
What Is a Ripple Coin?
Ripple.com. Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples).
How To Store Ripple (XRP)
Keeping your cryptocurrency in an exchange is not a safe choice, If you have small amounts that you don’t mind loosing in case the exchange get’s hacked then keeping small amounts in an exchange is fine but if you have large amounts then it’s highly recommended to store your Ripple (XRP) on a wallet like Gatehub.