FAQ

August 5, 2018

TheRightICO

What about CryptoCurrency and Taxes?

Is CryptoCurrency is usefull for illegal activities?

Is CryptoCurrency is Legal?

What happens if CryptoCurrency is lost?

What happens if CryptoCurrency is lost?
When a cryptocurrency user loses his wallet, besides the personal effect, it reduces the amount that was lost from the overall circulation of total coins in the market. Lost cryptocurrencies will still remain in the blockchain, However, lost cryptocurrencies remain lost forever due to the high level of security the system has. It is possible to restore a lost password is an external service for the wallet is used – but not the private wallet key.

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Is CryptoCurrency is anonymos?

Is CryptoCurrency is anonymos?
Cryptocurrency core is designed to protect its users and to allow to send/receive payments with a high level of privacy like the other conventional payment method these days. However, cryptocurrency is not fully anonymous and cannot offer the same level of privacy as cash. The usage of cryptocurrency as a payment leaves extensive open public records of the financial actions (all transactions are transparent). Various solutions exist to protect the consumer’s privacy and many in a development stage.

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Can I make money with CryptoCurrency?

Can I make money with CryptoCurrency?
Never expect to become rich with any cryptocurrency or any emerging technology.

Cryptocurrency is a new growing space for innovation and technology and there are always business opportunities that can risky. There is no guarantee that a specific cryptocurrency price will continue to grow.

There are several ways to earn cryptocurrencies such as mining, bounty programs or new business on the blockchain. All of these methods are competitive and there is no guarantee of profit, it’s competition based.

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Why do people trust CryptoCurrency?

Why do people trust CryptoCurrency?
Much of the trust in cryptocurrency comes from the fact that the technology behind it doesn’t require no trust at all.

Most CryptoCurrencies are fully open-source and decentralized. The meaning of this is that anyone can access the original source code when they want. Any developer who would be interested can verify exactly how each cryptocurrency works. All financial actions and cryptocurrencies that are issued into existence can be transparently viewed and verified in real-time by anyone.

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What are the advantages of CryptoCurrency?

What are the advantages of CryptoCurrency?
1. Payment freedom – You can send and receive payment from any location around the world, No holidays, No limits – You are in full control of the money.

2. Choose your own fees – No fee for receiving payment, in most of the cryptocurrencies you can decide what will be the transaction fee for sending.

3. Fewer risks for merchants – cryptocurrency transactions are very secure, decentralized, and do not contain the sender and receiver sensitive or personal information. as the process is done Peer to Peer without any merchant and the system doesn’t allow to chargeback the payments, the risk fees are between the buyer and seller.

4. Security and control – the wallet owners are in full control. unlike in the current banking, merchants can’t force unwanted or unnoticed charges. as the transactions are done anonymously, it offers strong protection against identity theft.

Transparent and neutral – Each cryptocurrency has its own information stored on its blockchain, and it’s always available to see the money supply itself and the option to verify and use in real-time.

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How Dificult is to pay with CryptoCurrency?

How Dificult is to pay with CryptoCurrency?
In comparison to modern payment methods such as Credit Card, Debit or Bank Wire, CryptoCurrency is easier to make payment as it doesn’t require an additional merchant, this means the payment is Peer to Peer directly. Payments are made from a wallet application that is unique for the cryptocurrency the payment is made with, either on your computer or mobile, by entering the recipient’s address or scanning the QR barcode of the wallet and pressing send.

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How can I acquire CryptoCurrency?

How can I acquire CryptoCurrency?
* Request it as payment for goods or services.

* Purchase CryptoCurrency at a CryptoCurrency exchange.

* Exchange CryptoCurrencies with someone near you or a friend.

* Earn CryptoCurrency through mining.

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Is CryptoCurrency Is being used by people?

Is CryptoCurrency Is being used by people?
Yes. There is an ongoing expanding number of individuals and businesses using CryptoCurrencies. This includes many businesses like restaurants, flight services, advisors and marketing, as well as popular online services such as amazon.com, and Reddit and even law firms. While CryptoCurrency remains a relatively new phenomenon, it is growing very fast. As of May 2018, the total value of all existing CryptoCurrencies exceeded 300 billion US dollars, with tens of millions of dollars worth of CryptoCurrencies exchanged daily.

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How Does CryptoCurrency works?

How Does CryptoCurrency works?
From a user perspective, CryptoCurrency is nothing more than an app or a program that provides a personal financial wallet and allows a the holders to send and receive CryptoCurrency with them. This is how CryptoCurrency works for most users.

Behind the scenes, the CryptoCurrency network can be divided into two types, the first is the Decentralized CryptoCurrency, which is sharing an open public ledger called by the name of “blockchain”. This network contains every transaction ever that was done on that CryptoCurrency Network, allowing a participant computer to check and validate each transaction. The authenticity of each transaction is backed by digital signatures attached to the sending addresses, allowing all participants of the network to have control over sending CryptoCurrencies from their own addresses.

The second type is Centralized Network – which is not open public and is being processed within the owner company itself.

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Who Controlls CryptoCurrency?

Who Controlls CryptoCurrency?
Once the CryptoCurrency is released into the market – No one has an actual control over it. For example, Bitcoin Network doesn’t have an actual owner, like no one owns the technology behind email or the Internet.

Each individual CryptoCurrency is controlled by all the CryptoCurrency possessors.

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Who Created CryptoCurrency?

Who Created CryptoCurrency?
The first products of a concept called “cryptocurrency” were the Bitcoin, which was first mentioned in 1998 by the cyberpunks team. The first specification for this product was published in 2009 by Satoshi Nakamoto, who has left the project in late 2010. Since then many other cryptocurrencies were created around the world for many different projects.

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What is Cryptocurrency?

What is Cryptocurrency?
Cryptocurrency is a digital asset that represents money and is used as a medium of exchange.  It’s a currency that is associated with the internet (digital currency).

It’s used to buy and sell online using decentralized and secured transaction technology called the Blockchain.

Today Cryptocurrency is more complex. The technology progresses and becomes “smarter” allowing for more applications than pure peer to peer currency exchange.

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Why use Cryptocurrency?

Why use Cryptocurrency?
It’s a relatively new market that has a known potential to take off, that means, a small investment can generate great revenue overnight.

It’s secure, encrypted and anonymous.

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What is Cryptocurrency Mining?

What is Cryptocurrency Mining?
Cryptocurrency is a digital asset that represents money and is used as a medium of exchange.  It’s a currency that is associated with the internet (digital currency).

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What are the most common cryptocurrencies?

What are the most common cryptocurrencies?
Bitcoin, Ethereum, Ripple, Litecoin, Monero

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What is Blockchain?

What is Blockchain?
Blockchain technology allows digital information to be distributed but not copied. It’s an incorruptible digital ledger that can record any financial transaction or virtually anything of value.

When you wish to make a transaction, an encrypted “block” of the transaction is created. Miners on the blockchain are validating the transaction by means of complex mathematical computation. The miners of the blockchain approve & validate the transaction exists.

Then, the “Block” is added to the Chain that provides a record of this transaction. The transaction record is permanent and can’t be copied or tampered with.

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Why Ethereum?

Why Ethereum?
Ethereum is a cryptocurrency that is trusted by many people to overtake Bitcoin and lead the coin market. The technology behind “Ether” is what makes it so interesting and unique in comparison to other coins.

While Bitcoin is nothing but a currency, Ethereum is a ledger technology that can be used by companies to build programs and smart contracts, therefore, not only sell and buy but also use other services by using its smart contract technology.

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What is a Smart contract?

What is a Smart contract?
A smart contract is an account that holds “objects” inside the Ethereum Blockchain. The contracts are considered safe, hard to “hack” and can be used for various applications such as exchanging coins, money, company shares, properties and much more… as long as it has value, you can use it.

The smart contract can provide many benefits. The technology is relatively new and more organizations are looking into it as means to improve their services and security.

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What is an ICO?

What is an ICO?
ICO stands for Initial Coin Offering. It’s a great tool that helps new companies and startups raise funds for new developments trough drafting a plan for a “crowd sale”.

The ICO concept is usually manifested with a “Whitepaper”, Investors fund the project and receive Tokens / a digital coupon that will potentially be initiated to the global cryptocurrency exchange as a digital currency.

This process is usually manifested in the ICO roadmap.

Once the launch is successful, and the service is in demand, the cryptocurrency will gain value by demand.

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How can I convert Bitcoin to Ethereum?

How can I convert CryptoCurrency to CryptoCurrency?
There are several online exchange platforms from FIAT to Digital Coins. For a list of reputable exchanges click here. You can also sign up for our free webinar to learn more.

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When is the start of the ICO?

When is the start of the ICO?
Each ICO has a different Launch (pre-sale) and end date, first select the ICO you wish to learn more about, and the dates will be featured on its review card or the ICO official page.

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Can I join the crowdsale without creating an Ethereum wallet?

Can I join the crowdsale without creating an Ethereum wallet?
To participate in an ICO you will need an E-Wallet that accepts the tokens you wish to buy. The ICO page usually lets you know which E-Wallets can accept their tokens. For more on the subject click here

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Can I participate in an ICO using my E-wallet?

Can I participate in an ICO using my E-wallet?
To participate in ICO you will need to go through an exchange and convert FIAT to Digital Coins. You will then have to purchase tokens by transferring funds to the ICO. You will need an E-Wallet that accepts the token you wish to purchase. To learn more about the process click here. You may also signup to our free webinar on the subject.

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How many tokens can I buy?

How many tokens can I buy?
You can buy as many as you please according to the amount available on the ICO pre-sale. Each ICO has a different amount of Tokens for purchase and you can find the info on “Reviews”.

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Can you tell me more about “Pre-Sale” options?

Can you tell me more about “Pre-Sale” options?
The Pre-Sale option is basically a great opportunity to gain profit on the margins of the deal. For example, before the ICO a Pre-Sale will launch where the tokes are offered for sale for 5$ each. Let’s say you decide to buy 1000 of them, therefore you have $5000 worth of Tokens at the moment.

Once the ICO launches, the pre-sale is closed and the tokens are now sold for their full value – $7 each, therefore, you gained $2000 profit on the margins between the $5000 you had and the $7000 it is now worth.

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Will my data be protected?

Will my data be protected on the Blockchain?
Yes, it is very safe; all transactions are documented in a ledger using crypto technology, also known as the “Blockchain” technology.

Due to its unique transactions documenting system, the Blockchain is uncheckable and protects the user information by supplying 2 keys to each transaction: a private key and a public key.

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Will my tokens be available on exchanges after ICO ends?

Will my tokens be available on exchanges after ICO ends?
Yes, after around 30 days, it will finish going through the global exchange and the tokens will transform into coins (cryptocurrencies).

You can then use these coins for buying/ selling online goods and services or even exchange the coins to other types of cryptocurrencies you wish to invest in.

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What will happen with unsold tokens?

What will happen with unsold tokens?
Well, legitimate ICO company will terminate the unsold tokens after the ICO launch. We make sure to list only such companies on our site.

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How to keep an Eye on Crypto Token ICO’s?

How to keep an Eye on Crypto Token ICO’s?
Sign up for our newsletter or follow the “upcoming” ICO Calendar.

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Can CryptoCurrency be regulated?

What About CryptoCurrency and consumer protection?

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