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What is Bitcoin?

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized P2P payment network that is powered by its users with no central authority or intermediaries. From a user perspective, Bitcoin is very similar to cash for the Internet.

Why is my bitcoin transaction pending for so long?

Each bitcoin transaction “waits” inside the mempool (abbreviated from “memory pool”) before it can be confirmed by a network of miners. When there is sharp increase in activity on the network, the mempool can become clogged if the number of transactions awaiting confirmation in the next block is too large.

In most cases, the transactions will be confirmed after a while, taking more time than usual.

 

At what age is it possible to use your service?

18 years and above.

How do I keep up with news related to your system?

To be the first to receive the latest news about our service, you should subscribe to our newsletter, as well as follow our updates in the blog.
 

 

What is the minimum number of bitcoins that can be sent?

The minimum transaction size is 547 satoshis, which is 0.00000547 BTC.

Can I receive funds for an old address that does not appear on the "Receive bitcoin" screen?

Yes, you can. All addresses created (generated) in your wallet accounts remain valid and can receive funds even if they no longer appear when you click on "Receive". A new address is generated and appears on the "Receive" screen every time you receive funds sent to the previous address.

 

Can I cancel my transaction or ask for a refund?

You cannot cancel a transaction or get your funds back once it has been sent. So it's a good idea to triple check the amount you're sending, the transaction fee and that it's going to the correct address. The Bitcoin network is configured such that transactions are irreversible and we don’t have any control over them.
 

Why is my bitcoin address changing?

To protect your privacy, we give you a new bitcoin address each time you receive a new payment. By so doing, you are able to isolate each of your transactions in such a way that it is not possible to associate them all together. People who send you money will not be able to find out what other wallets you own and what you do with them.

 

How do I send bitcoin?

To send bitcoin, you need to follow the following steps:

1. Go to your personal account and click "send bitcoin";

2. Select the bitcoin wallet you want;

3. Enter the bitcoin address of the recipient;

4. Enter the amount to be sent;

5. Set the fee and send the funds

 

How do I receive bitcoin?

To receive bitcoin payment, you need to follow the following steps:

1. Go to your personal account and click "receive bitcoin"

2. Select the bitcoin wallet you will use to receive the payment;

3. Send the wallet address or QR code to the person who is sending the bitcoin to you

 

What are your fees for sending bitcoin?

APIBTC users can choose the level of fee (Priority, Normal, Economy, Super Economy) or set the amount manually. Since the fee can be changed, the user can influence the speed of transactions.

 

Is there a fee for receiving bitcoin?

APIBTC users do not pay any fee for receiving bitcoins.
 

When will the bitcoin received appear in my account balance?

The received funds appear in your available balance after receiving 1 confirmation in the Bitcoin network.
 

Why is the bitcoin received being displayed as frozen?

Usually when receiving bitcoin, you cannot immediately dispose of them. Once a transaction is completed, it is sent to Bitcoin network for processing and has to be included in a newly found block before becoming legitimate. The process of including a transaction in a block is called a transaction confirmation. Inclusion in 1 block = 1 confirmation. When there are more than 1 of such confirmations, the transaction is
 

How do I enable/disable two-factor authentication?

In your account, go to "Settings" and enable/disable OTP Authentication and Two-step e-mail verification.

 

What if I forget my password?

If you forgot your password, click "forgot password", and then enter the e-mail address you used when registering. A link to reset your password will be sent to that e-mail address. Follow the link and enter a new password.
 

Why do you not ask for documents?

Since the Bitcoin network is completely decentralized, there is no need to provide documents. We also support total anonymity of bitcoin payments.

 

What is two-factor authentication?

Two-factor authentication provides additional level of security for your wallet. When you log in to your wallet, you will need to enter your wallet password and a one-time password sent to you by email, or via Google Authenticator.

 

What is Google Authenticator?

The Google Authenticator app generates codes for two-factor authentication on your phone. Two-factor authentication adds an additional layer of protection to your Google account, because you do not only need a password to sign in to your account, but also a code generated by the app.
 

Do you have a secure way to sign in?

Our login pages are by default protected with an SSL certificate that encrypts your login details.
 

What does bitcoin depend on?

The commission depends on the size of the transaction, for every 1000 bytes you have to pay 1 share of the commission, it equals 0.0005 BTC. You can adjust this share of the commission in the settings of the application