FAQ

For most digital currency investors, the centralized cryptocurrency exchange is one of the most important vehicles for transacting. Centralized cryptocurrency exchanges are online platforms used to buy and sell cryptocurrencies. They are the most common means that investors use to buy and sell cryptocurrency holdings.

Blockchain is defined as a ledger of decentralized data that is securely shared. Blockchain technology enables a collective group of select participants to share data. With blockchain cloud services, transactional data from multiple sources can be easily collected, integrated, and shared. Data is broken up into shared blocks that are chained together with unique identifiers in the form of cryptographic hashes.

Blockchain provides data integrity with a single source of truth, eliminating data duplication and increasing security.

In a blockchain system, fraud and data tampering are prevented because data can’t be altered without the permission of a quorum of the parties. A blockchain ledger can be shared, but not altered. If someone tries to alter data, all participants will be alerted and will know who make the attempt.

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Amongst cryptocurrencies, Ether is second only to Bitcoin in market capitalization.

SHS is a digital representation of the Kenyan Shilling on the blockchain. SHS doesn’t require a bank account. It doesn’t require that you live in a particular geography. And you can send SHS around the world in just a few minutes.
It is not legal tender. Shilingi Token (SHS) is not the Kenyan Shilling. It is digital currency pegged to the value of the Kenyan Shilling.
Read more https://www.bitdax.io/shilingi/

Cryptocurrency is a digital asset that, to date, is not controlled by any regulatory party, including the government. Cryptocurrency is hosted on networks and computers all over the globe and, at present, trades are made between buyer and seller, with no third party running point. The transaction does need to be recorded, though, so with network fees, you’re directing money to decentralized cryptocurrency miners or network stake pool operators in exchange for being able to transact on a public blockchain.

For a cryptocurrency exchange to make money, it needs to attach to some of the financial momentum flowing through it. In most cases, that means assessing fees for common transactions, such as:
- Trading
- Deposits made when moving crypto to online storage spaces, like digital wallets
- Withdrawals and liquidations
- Loans

Bitdax.io is intuitive, fast, and easy to use in addition to providing the African market with: -
- Prompt deposits and withdrawals using local payment options - Pesalink, Mpesa, Swift/Bank Deposit
- Quick KYC processing
- User-friendly interface to buy, sell, and trade crypto easily and conveniently.
- 24/7 support for easy access to professional assistance.

Cryptocurrencies are known for being extremely volatile, and prices fluctuate drastically even in the space of minutes. Investors have the opportunity to participate in cryptocurrency trading around the world and at any time of the day. The combined effect of these factors limits the effectiveness of human cryptocurrency trading in a lot of ways.

Investors, in many cases, are unable to react quickly enough to changes in the price to achieve the optimal trades. Investors can not dedicate as much time to the cryptocurrency markets as necessary to always achieve the best trades. That would require round-the-clock monitoring of cryptocurrency exchanges all over the globe. This is where crypto trading bots get into the picture. They are nothing but automated tools that conduct trades and execute transactions on behalf of human investors.

Crypto mining refers to the process of gaining cryptocurrencies by solving cryptographic equations with the use of high-power computers. The solving process comprises verifying data blocks and adding transaction records to a public record (ledger) known as a blockchain.