How do cryptocurrency transactions work?
WHAT IS CRYPTOCURRENCY?
Cryptocurrency is a type of money that only exists computerized—digital money if you will. The technology behind it aims to solve some of the most crucial pain points about traditional banknotes. Cryptocurrency mentions the computerized-digital currency that is exchanged online, directly in a peer-to-peer(p2p) fashion. This advantage of currency leverages blockchain technology to a decentralized network of nodes that monitor and validate all crypto transactions. It is among the most highly developed manifestations of modern technologies such as the internet, high-performing computers, cryptography, and blockchain. Some suitable examples include Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, and Bitcoin Gold.
1. CAN YOU TRACK CRYPTOCURRENCY TRANSACTIONS?
Cryptocurrency payments or bitcoin transactions are open to the public and every payment can be traced. The only thing that cannot always be traced is the identity of the person behind the transactions.
2. How do you buy and sell Cryptocurrency?
To complete your account, you need to do some verification steps before you can fully use your registered Bitdenex account. Go through the verification steps and add the necessary documents. We always show you the current exchange rate before you trade. The traders determine the prices, so make sure you check the rate before you place your order or limit order.
Let us take a look at the process of receiving and sending cryptocurrencies like Bitcoin(BTC), Ether(ETH), Litecoin(LTC), etc. on Bitdenex:
- Step 1 Create an account (KYC checks required).
- Step 2 Link your bank account.
- Step 3 Start buying &selling.
- Step 4 Earn Money (Become a smart trader to earn).
3. HOW ARE BITCOIN PAYMENTS PROCESSED?
Bitcoin payment process instantly converts the bitcoins you acquired into the currency of your choice, i.e. Euro or USD, whenever you want. The money gets added to your bank account either with the help of the sender’s PSPs or with the help of the cryptocurrency exchange in use. If you want to start trading in cryptocurrency then Bitdenex is the best platform for you. It is an exchange and trading platform where you can trade your cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, and many more high-valued cryptocurrencies.
Use this link to sign up and start trading with 0% trading fees at Bitdenex Exchange.