- BITCOIN AS A PHENOMENON 1
- FIVE COINS LIMITED 2
- USER ACCOUNT 3
- INVESTMENTS AND WITHDRAWALS 4
- AFFILIATE PROGRAM AND PARTNER BENEFITS 5
- WEBSITE AND ITS SECURITY 6
- POSSIBLE PROBLEMS AND THEIR SOLUTIONS 7
- REQUIRED INFORMATION 8
What is Bitcoin and why it can be convenient to use?
Bitcoin is a digital and global money system (currency). It allows for the pseudo-anonymous (not linked to a real name) trading of money across the internet. The mathematical field of cryptography is the basis for its security. One of the differences between using Bitcoin and using regular money online is that Bitcoin can be used without having to link any sort of real-world identity to it. Unless someone chooses to link their name to a Bitcoin address, it is hard to tell who owns the address. Bitcoin does not keep track of users; it keeps track of addresses where the money is.
How does Bitcoin work?
You can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once. More necessary information you can find by visiting https://bitcoin.org/en/how-it-works.
What is Bitcoin mining?
Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions must be packed in a block that fits very strict cryptographic rules that will be verified by the network. These rules prevent previous blocks from being modified because doing so would invalidate all following blocks. Mining also creates the equivalent of a competitive lottery that prevents any individual from easily adding new blocks consecutively in the block chain. This way, no individuals can control what is included in the block chain or replace parts of the block chain to roll back their own spends.
What is Bitcoin address?
A Bitcoin address, or simply address, is an identifier of 26-35 alphanumeric characters, beginning with the number 1 or 3, which represents a possible destination for a Bitcoin payment. Addresses can be generated at no cost by any user of Bitcoin. It is also possible to get a Bitcoin address using an account at an exchange or online wallet service. An example of a Bitcoin address is 1J43t1YpEZ73CNmQviecrnyiWrnqRhWNLy.
What is Bitcoin transaction hash, and how can I use it?
Bitcoin hash (batch) is a unique code of transaction which you can use to track the status of your payment. Go to the Blockchain.info website and use the search bar at the top right of the home page to find your payment and check confirmation status.
What Bitcoin wallet do you recommend to use for investments?
You can use absolutely any Bitcoin wallet, which allows you to send and receive payments. However we strongly recommend using Blockchain.info as the best and most intuitive among others.
Where can I register a Bitcoin address (wallet)?
You can register your new wallet online on the Blockchain website: https://blockchain.info/wallet/new.
Where can I buy bitcoins?
You can buy bitcoins from either exchanges, or directly from other people via marketplaces. Visit this web site: http://howtobuybitcoins.info and find the sellers of bitcoins in your country. More exchangers can be found in the “Get started” section.
- How can I keep track of the Bitcoin price in relation to other currencies?
Why is your company only accepting Bitcoin as deposits?
Five Coins Limited is engaged in cryptocurrency mining and trading therefore it is logical that we only accept Bitcoin as a deposit and pay income in such way.
Where I can track actual information about Bitcoin?
We recommend subscribing to updates of the most popular websites and blogs dedicated the problems of cryptocurrency: www.bitcoin.com, www.thebitcointrader.com, www.lifeonbitcoin.com/blog, www.btcmanager.com.