Common Problems Using Cryptofundex Trading Platform
What is Bitcoin?
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without an intermediary. Transactions are verified by network nodes and recorded in a publicdistributed ledger called the block chain. The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, which has led the U.S. Treasury to categorize bitcoin as a decentralized virtual currency.
Bitcoin is often called the first cryptocurrency, although prior systems existed.
Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value.
(Reference from https://en.wikipedia.org/wiki/Bitcoin)
How to acquire Bitcoins?
With Bitcoin is gaining popularity, many people seem curious about getting some. Buying bitcoins is getting simpler with Cryptofundex.com. You may register an account in Cryptofundex.com, deposit to our bank to top up your account and then place your order in our order book. For detail, please refer to our Tutorial.
Many people find that the best way to get bitcoins is to accept them as payment for the products or services they already sell. Just give your customers the option to pay in bitcoin.
Mining bitcoins requires an investment in specialized bitcoin mining hardware designed to process double round sha256 hash verifications at high speed. Getting started with Bitcoin mining can be a daunting endeavor and it has become highly specialized so you may want to leave it to professionals with Bitcoin cloud mining services. Nevertheless, there are many excellent bitcoin mining systems available.
What is Bitcoin Wallet?
Bitcoin wallets store the private keys that you need to access a bitcoin address and spend your funds. They come in different forms, designed for different types of device. You can even use paper storage to avoid having them on a computer at all. Of course, it is very important to secure and back up your bitcoin wallet.
Bitcoins are a modern equivalent of cash and, every day, another merchant starts accepting them as payment. We store fiat cash in a physical wallet, and bitcoin works in a similar way, except it's normally digital.
To be absolutely accurate, you don't technically store bitcoins anywhere. What you store are the secure digital keys used to access your public bitcoin addresses and sign transactions. This information is stored in a bitcoin wallet.
Bitcoin wallets come in a variety of forms. There are five main types of wallet: desktop, mobile, web, paper and hardware.
(Reference from http://www.coindesk.com/information/how-to-store-your-bitcoins)
Why invest in Bitcoin?
Bitcoin is a revolutionary decentralized crypto currency with finite supply but growing demand. Yet, just like other investment, risk involved in trading and investing in Bitcoin while Bitcoin price can be very volatile. We recommend that you seriously assess your own acceptable risk level before investing in Bitcoin.
Why cold storage is safe?
Bitcoin private key is the ultimate proof of ownership of Bitcoin. The loss of private key is no difference from the loss of Bitcoin. Any internet connected computer is subject to hacker's attack. Therefore, storing private key in physical form completely off the internet is considered to be the safest way to store Bitcoin private key.
Cryptofundex's Bitcoin reserve is in cold storage. For detail of our cold storage policy, please refer to our Security section.
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