6

Buying any crypto from your credit card is same as buying it through any other payment method. both are equally secure. But always buy it from authentic source only, there are many scamming sites running in the crypto world.


4

Essentially you want to start a cryptocurrency exchange? If that is true, you need liquidity for people to be able to buy these coins. There are two ways of going about it: Use a broker/third party exchange, such as Kraken.com or any other in your region and have your orderbook go through their's. You would have to price it so you are profitable however. ...


4

What if a person has your private key? Then they have independent control over all the unspent Bitcoins associated with that private key. Once they have the private key there is nothing you can do to rescind their control (other than moving the Bitcoin into a new wallet before the other person does) How can that person interact with your wallet? They ...


4

Anyone who knows the private key will have full access and control of any coins stored at the corresponding address. When you put a password on a wallet or login account, that password is only for unlocking that instance of the wallet (it is possible to create another instance, that is not locked by your password). Once unlocked, the wallet will use the ...


3

Right this second, bitcoin is at about $3,454. So $500 would get you about 0.145 bitcoins. At $20,000 per bitcoin, that would be worth about $2,900.


3

When dealing with established companies as a middelman (usually an exchange), it is common to go through a form of know your customer (KYC). This usually involved some form of national ID, and a bank statement or other proof of residence/address, and is usually done to comply with local laws regarding movement and sale of currencies. You should, however, be ...


2

is he [or she] trying to cheat me out of money? Yes. Even if you had a copy of their wallet, they have the private-key and can control any funds that appear in your copy of the wallet, now or in future. Even after they give you the password and even after you change the password. What they are probably giving you is a "watch-only" wallet - often used by ...


2

You've asked about five different questions here. This is a standard scam and there is no reason to think they actually have anything. There is no way to trace the owner of a Bitcoin address. That's why these scammers ask for payment in Bitcoin. The cost of one bitcoin varies continuously, just like stock prices or currency exchange rates, but you can ...


2

The main reason to use multiple private keys is for privacy. Say you receive 1 BTC at address A, and you want to send 0.1BTC to someone at address X. (We'll neglect tx fees for easy math). 0.1 BTC Address A -> Address X 0.9 BTC Address A -> Address B Now assume you were trying to watch any spending activity from the User at Address A, how would you ...


2

This is most certainly a scam, the scammer's messages explaining how Bitcoin works are pretty much nonsensical. Disregard all the jibberish he wrote to you, if you'd like to learn about Bitcoin, this is a great question to start with: I am new to Bitcoin, how can I get started?. DO NOT use the wallet you created with his help. Just forget you ever created ...


2

Create a new bitcoin wallet offline with a website like this one https://walletgenerator.net/ Transfer the amount you want to give to your friend to this new wallet Write the private key on a paper and give it to him then explain that since you have created his wallet he is not the real owner and tell him to do step 1 and 2 by himself if he want to really ...


1

Sadly there are a lot of scammers around. Don't pay to anyone you don't know (and before you sign up on an exchange, make sure it's a reputable one). There are also some services which allow you to buy "a miner" which mines for you, but generally, you would be better off just directly buying whatever coin you want yourself. Be careful, don't trust ...


1

your identity can be linked to bitcoins in more ways: exchange site can gather info about you (your IP address, ID, bank account, etc), your transactions are public through blockchain, your IP can get registered when you send BTC, your IP address can be registered when you visit BTC forums or any website/honeypot related to darknet markets (illegal ...


1

Can a bitcoin transaction be tracked? Mostly yes, all bitcoin transactions are recorded in the blockchain. There are techniques to try to cover up the trail -see Bitcoin mixers. I can be tracked down for using my credit card? Obviously the credit-card company (& some of their employees) know you bought something from a Bitcoin exchange, likely ...


1

Agree. You can’t trade until you trust and you can’t trust until you know. However, I think that it’s impossible to find a universal way of deciding if a platform is trustworthy or not. For example, each time I need to make such a decision, I’m spending plenty of time on research. I’m very careful when it comes to money and I really don’t want to lose any of ...


1

I am in the process of buying bitcoins and am being required to put in a lot of personal details. The Bitcoin network itself requires no identifying information from users. In fact, efforts have been made to make transactions / addresses as indistinguishable from one-another as possible, in order to provide the best fungibility and privacy for users of the ...


Only top voted, non community-wiki answers of a minimum length are eligible