Crypto FAQs

Are cryptos profitable?

It is possible to get fitly rich by investing in cryptos, but you could also lose a lot of money. There are risks when investing in crypto currencies and you should always do your research before purchasing any cryptos.

Is cryptocurrency safe?

Well, crypto exchanges have been prone to hacks but there are security breaches that help keep criminals away from your holdings. There are a ton of websites that allow you to buy, sell and store your cryptos, with full security and anonymity, which makes it convenient for crypto investors.

Is crypto a good investment?

The price on each crypto currency depends on the wider adoption of them by people around the globe. Some might say that it is a really good long-term investment, while others disagree. The main point is, when owing cryptos, you have to be patient and not get FOMO. Just because the crypto’s you have invested in now, is low, it does not mean that it will not bounce back, or you do not have to buy bitcoins, for example, just because “everyone is doing it”.

What is crypto mining?

Cryptocurrency mining is the process by which transactions between users are verified and added to the public global blockchain. The mining process is also responsible for introducing new coins into the existing circulation. It is one of the key elements that allows cryptocurrencies to function as a decentralised peer-to-peer network, without the need for a third-party central authority.

What is a DeFi?

DeFi stands for Decentralised Finance and refers to a financial ecosystem based on blockchain technology. DeFi aims to create an open and transparent financial environment that is accessible to all without central control and without intermediaries.

How to invest in cryptos?

You should find a crypto exchange market, choose the crypto you wish to buy, find the best crypto wallet to store your holdings and you are good to go! Tip: You should never share any wallet passwords with anyone, as crime activities CAN occur.

What are Bitcoin wallets?

Bitcoin Wallets allow us to send, receive and store Bitcoin. Wallets secure your money by protecting your private keys. These private keys act as ownership credentials for our Bitcoins. So, a wallet for Bitcoin is like a “safe” for Bitcoin.

What is a private key?

If a Bitcoin wallet is like a safe for your Bitcoin, then your private keys are the keys to that safe. The only difference is that in the real world, one could break and open a safe without the key. However, with Bitcoin, there is no way to break the safe without the key.

What if the hardware wallet company goes bankrupt?

You do not need the company to be active in order to use your hardware wallet. You will, however, need to run your own node to perform sending and receiving transactions. You could install another wallet in just a few minutes and transfer all of your holdings there.

How many cryptos are out there?

There are currently more than 6500 different crypto currencies in the world, which are all traded publicly. The total value of the cryptos is more than $2.2 trillion, with bitcoin being responsible for half of it.

Why are cryptocurrencies so popular?

Cryptos are so popular as years go by because they are decentralised, their value seems to be growing and investors seem to think that it is one of the best ways to earn money.

Are cryptocurrencies legal?

While China has banned their use, in the US they are completely legal. It simply depends on which country you are in and the regulations of it on cryptos.

What is a Bitlicense?

It is a business license of virtual currency activities, which is issued by the New York Stake Department of Financial Services and has regulations specifically designed for companies.

What are centralised coins?

These are coins that are controlled by third parties that run them and follow specific rules and regulations. There are risks though, associated with centralised exchanges, like the fact that they can easily be hacked, plus the exchange can easily disappear overnight.

How to calculate crypto gains?

There are a lot of sites you can visit, online, in order to calculate your cryptocurrency gains. In each one, you must select the platforms and exchanges you have traded on, then import your trading history, your crypto income and then you are ready to generate your report.

What are “penny” cryptocurrencies?

If you are new to the crypto world, then you have probably not heard about “penny” crypto currencies. If not, then you know that penny cryptos are cryptos whose market price is less than $1. Even though Bitcoin, Ethereum, Dogecoin, Litecoin and other “big” crypto currencies are more popular, penny cryptocurrencies also seem to be very attractive to people around the world.

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