What are cryptocurrency network confirmations?
When transferring cryptocurrencies, transactions must receive a certain number of network confirmations before funds become available. This is done to prevent double-spending of the same funds. No one can influence the speed of transaction confirmations - users simply need to wait.
What is Bitcoin network confirmation?
When receiving Bitcoin, the new owner typically can't use it immediately. Once a transaction is made, it's sent to the Bitcoin network for processing and must be included in a block to become legitimate. The process of including a transaction in a mined block is called transaction confirmation. Inclusion in 1 block = 1 confirmation. Our service requires 2 Bitcoin network confirmations before processing your exchange request. Transfer speed depends on the fee you specify during exchange.
Stablecoins
A type of cryptocurrency whose value is pegged to another asset's price, such as Tether (USDT). To create such cryptocurrency, a company must maintain equivalent amount of fiat currency (e.g., US dollars) in bank accounts. The major advantage is nearly complete absence of price volatility.
Staking
All blockchains require transaction verification. Unlike Bitcoin's Proof-of-Work, staking coins use Proof-of-Stake. The more staking coins you hold, the more voting power and earning potential you have. You can delegate staking coins similar to depositing money in a bank for interest - they need to be stored in wallets or exchange accounts that support staking.
Anonymous Monero coin
A fully anonymous coin operating on Proof-of-work principle. Its anonymity is based on the CryptoNote algorithm for transaction encryption: no one knows who signed the transaction, and all transactions are passively mixed by design.
Where and how to create a cryptocurrency wallet?
We recommend secure wallets where encryption keys are stored on the device itself and developers don't have access to them, meaning no one can steal them. The multi-currency TrustWallet app and Metamask browser extension meet these requirements.