FAQ

This is a service for the automated exchange of one cryptocurrency for another, provided that they are on different blockchains. For example, Bitcoin and Ethereum. The convenience of the bridge is a quick exchange. The downside is the centralized format of work, which is always a kind of risk.

Exchange services can help you with that.They can be divided into 2 types: centralized and decentralized. In both formats, you send your cryptocurrency to a specified address and receive another cryptocurrency, minus fees. 

Centralized exchange services are typically characterized by the fact that a third party is involved in the exchange. Usually, it is independent and values its reputation; however, it can always happen that money from the sender transferred to the exchange service does not reach the recipient. This risk should be taken into account. 

Decentralized exchange services (DEX) are usually built on automated algorithms, in which a third-party is a blockchain program (smart-contract), which cannot be compromised, unless hacked. You should keep in mind that such an exchange method is available only for tokens based on one blockchain, for example, Ethereum.

Normally, the Gas-price is indicated in the blockchains scanners, for Ethereum it is etherscan.io, for Tron it is tronscan.org.

Transactions in this network are paid via the main currency TRX. 

For the transaction to be carried out, you need to top up your address with the main wallet in an amount that is enough to pay the fee in case of further funds transfer. You can top up your address via an exchange office.

The cryptocurrency payments are regulated by the country-specific legislation. In a number of jurisdictions, transactions with cryptocurrencies are prohibited.

A blockchain, as a structure, is designed to be transparent in relation to its users. This means that the transactions are visible to any users on the Internet. However, in most blockchains, the sender, receiver, and transaction data are not assigned to specific owners.

The government can make assumptions, use specialized software to analyze networks, artificially introduce identification processes, but, ultimately, it cannot be said that state regulation of non-national cryptocurrencies is taking place.

The fact of sending funds is the presence of the so-called “Transaction hash” (this can be considered the transaction ID).

This identifier must be requested in a search on the blockchain scanner website (every blockchain has one).

There will be data reflecting the number of confirmations (number of blocks in a blockchain the transaction was added to) in the transaction information. If there are many blocks (at least more than 5), it can be assumed that the transaction has reached the receiver and cannot be canceled.

For most blockchains, it is enough to know the address (bank account analogue) of the receiver. If you pay for the products/services on the site, you are provided with the address, to which you should transfer the cryptocurrency.

Confirmation is transaction check by the network nodes and by adding it to a blockchain block. The number of confirmations is equal to the number of blocks the transaction was added to. The more blocks there are, the lesser the possibility of canceling the transaction.

It depends directly on a blockchain, on the basis of which cryptocurrency functions. The time for making a payment can vary from a few seconds to several days.

Usually, a “hot” wallet is a wallet which is connected to the Internet, is located in infrastructure, which is always online and is not secured by specific measures. 

A “cold” wallet is, if possible, disconnected from the Internet, but connects to the Internet by the request and usually has restricted access.

A hardware wallet is a device where the secret keys to cryptocurrency are stored. Such a device can be connected to a PC or a mobile phone via bluetooth or wire.

We recommend keeping funds above the average turnover on cold hardware wallets.

In a classic blockchain, cryptocurrency is not stored in the wallet physically.

Cryptocurrency is a balance record. A wallet keeps only the secret keys, from which you can spend funds (sign transactions for transferring funds).

The term comes from the word “custodian”. When we talk about a custodial wallet, we mean that the secret keys (needed for the right to spend funds from the wallet) are physically located, like files, with some custodian/keeper (service, exchange, wallet owner, web service, application, etc.)

A non-custodial wallet implies keeping the secret keys on the wallet user’s side.

Above all, you have to have cryptocurrency on your own third-party wallet. It can be any wallet.

Enter the master account address (can be viewed in the system or reported by your personal manager) in your third-party wallet as the recipient’s address, and make a transfer to the master account.

Press the “Login” button, and a modal window with the Metamask app will open in your browser. 

Enter password to your Metamask account; after that, you will be logged in to the site. 

Download Metamask as an official app to your browser (for example, Chrome). 

Launch the app within a browser, set up primary configuration (keep the code card securely) and create addresses to which you can get cryptocurrency from an exchange office. 

Metamask is a free product.

Stablecoin is a cryptocurrency type in which 1 token (one whole unit of currency) is pegged with high precision to a fiat currency, such as the US dollar. The discrepancy between the exchange rate and fiat currency, as a rule, does not exceed 0.1-0.5 cents.

Cryptocurrency can be bought in two ways – online and offline. The way of buying, first of all, depends on the jurisdictions (country) in which you are located / working / making a deal / consuming services or content. 

Offline services are autonomous terminals (similar to ATMs) where you can get cryptocurrency by paying with a card. 

Offline services are autonomous terminals (like ATMs), where you can pay with a card and receive cryptocurrency.

Online services can be divided into the following types:

• Exchanges and services that are ready to accept remote payment from you (card, bank transfer, money transfer systems, P2Ptransfer) and in exchange provide you with cryptocurrency to your crypto wallet.

• Private exchange offices, persons in instant messengers or on thematic platforms, ready to accept non-cash or cash money from you (at offline exchange offices) and provide you with cryptocurrency in exchange.

A wallet is where the secret keys for working with cryptocurrency are stored. An address is an analogue of an account, details to which you can send cryptocurrency and to which ownership of it is assigned.

A wallet is a tool to manage addresses, make transfers, and check balances.