Bitcoin, Cryptocurrencies and Wallets

WHAT IS A WALLET?

It is software used to receive, send and store cryptocurrencies. Tokens, cryptocurrencies are stored on the Blockchain. Wallets enable the transfer of crypto money and tokens from one wallet to another with their private keys.

WHAT'S THE ADDRESS?

It is the name given to all the alphabet and numeric characters used to make and receive payments in the Bitcoin network. It can be used as a scannable QR code. It is the only necessary information you need to give them so that they can pay you with Bitcoin.

Example Address: 1kqHKEYYC8CQPxyV53nCju3kk2ufpQqA2

Cryptocurrencies and Wallets

Satoshi Nakamoto expresses the main problem of classical currencies as the trust that all users need. According to him, the solution is one that is based on encrypted evidence and does not need trust in intermediaries. Such a solution ensures safe storage and easy transfer of money.

Bitcoin is both a digital currency and a payment system when exchangeable with other official currencies. Various names are given to it, such as the bitcoin exchange. Thanks to a database managed by users, all transactions made with Bitcoin are recorded on the Blockchain base.

Simply, Bitcoin payment means the electronic exchange of virtual Bitcoin between users. Ownership of Bitcoin is proven to a cryptographic keys. Our own digital wallet also contains encrypted keys and wallets can be managed by online service providers.

Cryptocurrencies, called official currencies or altcoins, can be exchanged on Bitcoin or cryptocurrency exchanges. Certain fees are charged for exchange. Coinpara applies very low commissions in these exchange transactions and provides serious advantages to its users.

Legal regulation of cryptocurrency exchanges is a topic on the agenda, but Coinpara is very sensitive to complying with legal regulations, and implements some procedures to know its customers and prevent money laundering. These measures are basically an application that is necessary to be a reliable platform that serves the protection of the customer and other users.

You Have Bought Cryptocurrency From Coinpara. So Where Is Your Money?

To own a cryptocurrency, it is necessary to have a wallet. In this context, whether you want to your own computer, phone, digital tools (custom made USB memory stick) etc. You can have a linked wallet. In addition, we can create reliable devices for you at Coinpara and can be protected with our strong security solutions. You can transfer crypto money from your digital wallet to the wallets of other people/institutions. Although it is basically a transaction similar to a bank transfer, there is no obligation for the other party to be a crypto money institution. Another difference is that Bitcoin accounts are protected with strong passwords. Keys called private keys are a necessary security measure for reconciliation of transactions.

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