Secure cryptocurrency exchange and wallet

Bitcoin is a digital currency. For the purposes of this explanation, we will compare it to "cryptographically secured gold ducats". All bitcoin transactions are recorded simultaneously on many thousands of computers. This means that there are tens of thousands of copies of the log of all bitcoin transactions.

This makes bitcoin secure, and there is no way to copy, erase, undo, or falsify either the number of transactions or their value, because any such change would have to take place on tens of thousands of computers simultaneously.

Each of the computers (they are called nodes) checks each bitcoin transaction so that we do not have to use any expensive intermediary, such as a bank or other financial institution, as a guarantor of its correctness and proper execution.

These computers (nodes) are the equivalent of a banking network - they form a cohesive system for overseeing the proper trading of the digital currency bitcoin. It is as if each computer (node) was a branch of a bank - on the one hand it executes transactions ordered, on the other - together with other branches - it constantly checks their correctness.

Bitcoin is the safest digital currency and has all of the following characteristics:

• independence - it is not issued or controlled by any governments, institutions, organizations, companies or individuals; this means that bitcoin is the first digital currency that belongs solely to their users and they are the ones who uphold its security and correctness of settlement,
• openness - the source code (remember it's a digital currency) is open to anyone, you can review it, propose changes to it,
• decentralization - bitcoin network consists of tens of thousands of computers called nodes; any user with internet connection and adequate disk space can create his own node; but to enjoy the possibilities of bitcoin you don't have to create your own node, you can just buy one
• public nature - in bitcoin, no person is directly linked to any bitcoin address, so the system is said to be pseudo-anonymous. This, on the one hand, gives the user the possibility of high privacy, and on the other hand, makes the whole system still verifiable,
• resistance to censorship - no one can ban, block or undo specific transactions within the bitcoin network; transactions are irreversible; bitcoin is simply immune to interference from any governments, organizations and institutions.

Bitcoin transactions have no geographical restrictions; you can send bitcoin freely to anywhere in the world, and vice versa - receive bitcoin deposits from anywhere in the world - without intermediaries (such as banks), quickly and anonymously.

Bitcoin is legal not only in Poland but also throughout the European Union. In most countries it is a legal form of payment on the Internet, and e.g. in Finland, Germany, and Switzerland bitcoin is officially recognized by the state and institutions as a means of payment.

Bitcoin is the most valuable currency in the world. As we write this article, the price of 1 bitcoin is equivalent to about 60,000 USD. While one Euro costs only 4.51 PLN.

The high price is due to the limited number of bitcoins, high security and anonymity, lack of transaction intermediaries (e.g. banks) and resistance to manipulation by governments, organizations and institutions.

Fortunately you don't have to buy the whole bitcoin, you can buy part of it, because bitcoin is divided into as many as 100 000 000 satoshi or Satoshi. So you can buy 100 satoshi or more depending on how much you want to spend.

At Bitcan you always have the latest bitcoin exchange rate.

In the bitcoin network, "miners" are responsible for confirming transactions. Each transaction must be confirmed by several "miners" in order to be accepted for execution (it has been confirmed on the blockchain network).

The duration is closely related to the number of globally pending transactions and the speed at which "miners" confirm them on the network. You can check the continuously updated transaction confirmation rate here.

Two transfer options are available to you at Bitcan: Priority, which is executed immediately and funds appear in your wallet after confirmations in the bitcoin network, and the cheaper Economy, which uses sending transactions in "packets" twice a day. Funds sent by economy transfer may take up to 24 hours to appear in your wallet.

If you're asking yourself this question and you're reading this information, we have great news for you - by visiting the Bitcan cryptocurrency exchange you've already made a good start.

On our blog you will find answers to many questions that bother you. Some of them will be answered briefly in this FAQ and we will tell you where to look for more comprehensive information.

Bitcan is always at your service. If you have any questions, write to us on Facebook or contact us by email. You can also chat with us.

If you are determined to start your adventure with bitcoin, start by setting up an account. Registration of an account with Bitcan is free and doesn't oblige you to anything.

If you don't have an account at Bitcan cryptocurrency exchange yet, start by registering and verifying your identity - for security reasons we need to be sure that it is you who is registering.

On the main page you will find an intuitive guide, which will show you step by step how to quickly and safely buy bitcoin at Bitcan.

We'll give bitcoin as an example, but the exact same steps apply to other cryptocurrencies. If you have bitcoins, e.g. in your hardware or mobile wallet, cryptocurrency exchange Bitcan.pl is an ideal place to sell them - with us you will do it quickly and safely.

Start by creating an account at Bitcan and verify your personal data.

In your admin panel choose Send BTC to your wallet, then click on Send BTC to your wallet. Further steps will be prompted by the system.

If you have bitcoins in your account at Bitcan and want to sell them, e.g. exchange them into zlotys, you first need to add your bank account. To do this go to Settings / Withdrawal Account and follow the instructions. Verification of your bank account takes up to 30 minutes during Customer Service hours.

Once your account has been verified, which we will notify you of via email and SMS, go to Sell, indicate the amount you wish to sell and confirm the transaction. We send the money from the sale on weekdays between 11:00 and 14:00.

A cryptocurrency wallet is required to store bitcoin and other cryptocurrencies. There are two basic types of wallets: so-called cold wallets and hot wallets.

The safest way to store bitcoin are cold wallets. They are characterized by the fact that they are located on apps or devices without direct internet access.

More flexible are the so-called hot wallets, which are applications that store BTC installed on devices connected to the Internet (computer, smartphone, tablet). Hot wallets are easier to set up and use, but on the other hand, like any other application, they can be vulnerable to attacks by thieves.

A wallet is a place used to store cryptocurrencies. You can also use it to perform transactions to send and receive cryptocurrencies.

You can create a wallet using an application, e.g. on your phone or laptop, or you can buy a device that fulfills this function, which is called a hardware wallet.

In Bitcan it is created as soon as you create your account, so you don't need an additional wallet to be able to perform transactions.

You can store your cryptocurrencies in our cantor as long as you want and we don't charge any additional fees for it. It is completely safe and secure.

The best place to start is by gaining some basic knowledge about bitcoin or ethereum and investing in this cryptocurrencies. It is worth spending some time to avoid making unnecessary mistakes.

If you don't have an account with Bitcan now is a great time to create one and start investing with us.

Yes, in Bitcan cryptocurrency exchange you can buy bitcoins and pay with BLIK.

In bitcoin, a wallet address consists of 26-32 characters, which are letters and numbers. By default there are three forms of BTC addresses which can start with 1, 3 or bc1. It is important to enter your wallet address carefully because if you make a mistake you will no longer be able to edit it or reverse the transaction. Remember that you cannot transfer other cryptocurrencies to your bitcoin wallet address and vice versa. Funds transferred this way will get stuck in the network.

In Ethereum (and also USDT on Ethereum) the address is up to 42 characters long and always starts with 0x, e.g. 0x1173c0C7e5f8Cc6566693B686547AF7aF59b8191 While for bitcoin wallets usually generate a new address for each transaction, for Ethereum (and also USDT tokens on Ethereum) one wallet usually uses the same address all the time for all transactions.

Your wallet address on Bitcan can be seen after logging in on the Bitcan website under Wallets. By clicking on "Send BTC to wallet" a QR code and the wallet address will appear.

Minimum amount of purchase transaction is 100 PLN and sell transaction is 100 PLN; and maximum amount of one transaction is 50 000 PLN.

In our exchange office you can make 4 types of transactions: buying, selling, withdrawing cryptocurrency to an external wallet and depositing to your Bitcan wallet. Depending on the type of transaction, its processing time will vary. When you make a purchase transaction cryptocurrencies will automatically appear in your wallet.

Selling bitcoins is done immediately and withdrawing funds to your bank account is done by an expedited transfer. This is a traditional transfer which we send with increased frequency, 3 times a day on business days. The funds should be in your bank account within 1-2 business days.

The processing time for withdrawing cryptocurrency to an external wallet also depends on the cryptocurrency itself and the type of transfer.

• Bitcoin (BTC) [Economy Transfer] - is processed twice a day at 12 am and 10 pm and the maximum processing time is 24 hours. This is the cheapest bitcoin sending option on the market!
• Bitcoin (BTC) [Priority Transfer] - funds are sent from the exchange within 30 minutes and the time it takes to receive them to your wallet depends on the network confirmation time
• Ethereum (ETH) and Tether (USDT) - funds are sent within 5 minutes however it can take up to 45 minutes for the Ethereum network to confirm the transaction and actually post it to the target address or wallet.

This time is usually several minutes to 2 hours.

The turnaround time for depositing cryptocurrency to a wallet in Bitcan depends on the turnaround time for transactions in the respective cryptocurrency network.

A wallet is a place to store cryptocurrencies such as bitcoin (BTC), ether (ETH) or tether (USDT). You can also use it to perform transactions to send and receive cryptocurrencies.

You can create a wallet using an application on your phone or laptop or you can buy a device which has this function, the so-called hardware wallet.

In Bitcan it is created as soon as you create your account, so you don't need an additional wallet to be able to perform transactions.

You can store your cryptocurrencies in our exchange as long as you want and we don't charge any additional fees for it. It is completely safe and secure.

Unfortunately, no. This is due to the nature of public blockchains, specifically one of their five fundamental features - resistance to censorship (you can read about other features of bitcoin or public blockchains in general in What is bitcoin?)). Neither Bitcan.pl cryptocurrency exchange nor any other person, company, institution or organization can interfere in such transactions.

This means that when ordering a BTC, ETH or USDT withdrawal you have to be sure that you provide a correct wallet address.

Sending cryptocurrencies to an incorrect cryptocurrency wallet simply means you lose your cryptocurrencies and the money you bought them with.

The technology on which cryptocurrencies are based does not allow transactions to be edited, reversed or cancelled.

Transactions are recorded on the blockchain network, which is a database stored by users around the world. Any changes to the transaction history would affect the inconsistency of this database. For this reason, modifications are not possible and if you make a mistake when entering the address you will unfortunately no longer be able to change it.

The address of a wallet consists of 26 to 35 characters and you should always double check that it is correct. In case of a mistake it is very likely that your funds will be lost.

The bitcoin, ethereum or other cryptocurrency exchange rate is priced by the market, just like any other currency or asset. The price is determined by the strength of demand and supply. We get the exchange rate from the exchange where we buy funds for our users by adding our commission to it.

You can check the exchange rate on the bitcan.pl website by going to the "charts" tab.

Open a stationary cryptocurrency exchange office together with us.

We provide full support from the very beginning.

Contact us: cryptoterminal@ari10.com

Yes, on Bitcan you can buy bitcoins using a card. We accept Visa and Mastercard.

It is definitely worth it. Here are a few reasons why:

• we are a legally operating cryptocurrency exchange - Bitcan
• thanks to implementation of client identity verification (KYC) and anti-money laundering (AML) procedures we provide you with risk and fraud free transactions,
• transactions are processed quickly thanks to cooperation with banks and payment institutions,
• you have our support from 8:00 to 21:00,
• you don't need any expertise to buy and sell bitcoin at Bitcan, we work like any other stationary currency exchange, only online

If you are already convinced - register an account at bitcan.pl, if you have questions contact us on Facebook or write us an email.

Ari10 Exchange is a bitcoin exchange office registered in Poland and based in Poznan. We are a entirely Polish company and are subject to Polish law.

All contact details and company data can be found in the contact section.

A cryptocurrency exchange is an online platform where you can buy and sell cryptocurrencies. Currently, there are many exchanges to choose from, including in Poland. An exchange allows you to buy currency directly or indirectly by making an offer indicating which currency, in what amount and price you want to buy. Once you receive a satisfactory offer, you can complete the transaction.

On an exchange prices are shaped by users and are very dynamic. In addition, the rates vary greatly between different exchanges. Each exchange also charges a different commission. The currencies we buy at the currency exchange are provided by the exchanges. Bitcan buys them at the time when you decide to buy them and then adds his commission to it. So the price offered at Bitcan is the price from the exchange plus the commission.

The advantage of Bitcan is that they are definitely simpler, faster and more convenient to use. All you have to do is specify the amount of cryptocurrency or the amount of gold you want to buy. At the time of the transaction the final exchange rate is known. On the exchange the exchange rate can change along with the change of the currently listed bids.

You can read more about our commissions here.

Every investment involves risk, so we encourage you to make informed decisions. If you don't have a full understanding of cryptocurrencies and how to invest in them use the training on the subject.

Safe investments in bitcoin cryptocurrency are usually based on individual investments without any intermediaries.

Yes, we care about your safety, among other things, from the technical and legal side.

Technological safety

We secure the website of Bitcan with the same SSL 256 security protocol which is used by banks. It is symbolized by a padlock visible in the web address of Bitcan and your bank.

Additionally:

• we use biometrics for identity verification,
• we use advanced systems to monitor high-risk transactions using artificial intelligence (AI),
• you can activate two-factor authentication (2FA) when logging into your account, this way you will protect it against unauthorized logging attempts by other persons
• we use SMS codes to confirm transactions.

We also use other monitoring systems which, for security reasons, run in the background to further enhance the protection of your transactions.

Legal safety

• thanks to the introduction of identity verification (KYC) and anti-money laundering (AML) procedures we minimize the chances of high-risk transactions

Bitcan operates on the basis of regulations and directives which are in force in Poland and in the European Union and which aim, among others, to protect as much as possible the safety of people making financial transactions on the Internet.

In order to provide you and your transactions with an appropriate level of security, Bitcan.pl bitcoin exchange has introduced a verification of clients' identity (KYC) and procedures protecting against money laundering (AML).

Verification is simple: you take a picture of your ID or passport and a picture of your face using a special application available in your panel. The application sends them to us and we check the correctness and compliance of the data. You will receive information about the verification result within a few minutes.

You will undergo identity verification once, before making your first transaction. Why is it necessary? So that we can ensure the safety of you and other users. You also show your ID to the bank.

The verification that we ask you to do after you open an account at KYC takes a few minutes - that's all the time it takes for you to send us all the necessary information and for us to check its correctness.

On working days, Monday through Friday, from 8:00 a.m. to 9:00 p.m. and on weekends from 10:00 a.m. to 6:00 p.m. verification takes a few minutes. Outside business hours the waiting time may be longer, up to several hours.

It is an Polish ID with an electronic layer. An electronic layer means that the e-ID has an embedded chip invisible to the naked eye. Thanks to this chip, the e-ID can be used as a proximity card, in which case the reader will electronically read the information stored in it.

If you made a new ID card after March 4, 2019, you definitely have an e-ID. It looks almost the same as the ID cards issued until March 3, 2019, but it has an additional piece of information - the CAN number. You will find it in the lower right corner on the first page of the document; this number is also written in the barcode on the back of the e-ID.

In order to use the electronic layer of the e-ID, activate it in the office when receiving the document. At the same time set a PIN code for it. You can also do this upon receipt, in the office, but this will require an additional visit.

The e-ID card looks like the one pictured below:

If you have an e-ID with an electronic layer you can use it to confirm your identity at Bitcan cryptocurrency exchange. For this you will need the eDO App, issued by PWPW. You can download the app for smartphones:

• from the Google Play store for Android, or
• from Apple's App Store for iOS. The tablet app is not yet available.

For verification you will need:

• a smartphone with the eDO App installed,
• your e-ID,
• PIN code for your e-ID.

Already have everything in hand? Let's start the verification!

1. After registering your account with Bitcan and logging into your dashboard, select e-proof verification in the eDO App. The QR code will be visible on the screen for 3 minutes. During this time, you need to scan it with your phone in the eDO App or enter it into the app manually.
2. Launch the eDO App on your smartphone and select one of two options: "Scan QR Code" or "Transcribe Number".
3. After scanning the code, in the "Institution Name" section, you will see:

• Litpay Sp. z o.o.,
• your details are necessary to confirm your identity on our site. If everything matches, click "CONFIRM."

4. The application will ask you to enter your CAN number. You will find it in the bottom right corner of the e-ID.
5. Attach the e-ID to the antenna on the back of your phone, right next to the camera. You have 55 seconds to do this. Do not move the proof!
6. Enter the PIN code into the application. You gave it to the office when you were collecting the e-ID.
7. After correct verification you will see a confirmation in your Bitcan account panel.

If you have any questions, feel free to write to us on Facebook or contact us by email. You can also chat with us, we are always at your service.

We charge a commission for the purchase and sale of cryptocurrencies depending on the transaction amount:

• up to PLN 10,000, we charge a 5% commission on purchase and 2.25% on sales,
• from PLN 10,000 to PLN 100,000, we charge a 3% commission on purchase and 1.75% on sales,
• above PLN 100,000, we charge 1.8% commission on purchase and 1.25% commission on sales.

There is one additional fee you will have to pay if you wish to withdraw your bitcoin, ethereum or other cryptocurrency to an external wallet and that is the miner fee. This is not a commission for the exchange, but a fee for the "miners" performing your transaction. The amount of this fee depends on the current network load and the exchange rate. Our cantor offers the lowest miner fee in the market due to the use of sending transactions in "packets".

When you sell, on the other hand, you can withdraw money to your bank account via express or traditional transfer for free.

There is a transaction fee for each transaction of transferring bitcoin from wallet to wallet (not buying and selling). The fee goes entirely to the "miners" who secure the network and ensure its proper functioning. The fee depends on the load on the network and the number of transactions awaiting approval. "Miners" will first verify transactions for which the fee is higher. The more transactions waiting globally on the network, the higher the transfer cost.

The transaction fee is charged in bitcoins. The fee does not depend on whether you are transferring 0.001 or 100 BTC. Our miner fee is the cheapest on the market because we used batching. This means that you send multiple transactions in one "batch" which divides the cost of the miner fee between all the transactions in it. Such "packages" are sent from our cantor 2 times a day at 12 and 22 p.m. It takes up to 24 hours to complete. To use this option you have to choose the Economy option when ordering the transfer.

There is a transaction fee for each transaction of transferring Ether or ERC-20 token built on Ethereum (e.g. Tether - USDT) from wallet to wallet (not applicable to buying and selling). The fee goes entirely to the "miners" who secure the network and ensure its proper functioning. The amount of the fee depends on the network load and the number of transactions awaiting approval. "Miners" will first verify transactions for which the fee is higher. The more transactions waiting globally on the network, the higher the transfer cost.

On our platform, the transaction fee is charged in the cryptocurrency you transfer. The fee amount does not depend on whether you are transferring 0.001 ETH or 100 USDT. Our engine automatically generates the fee amount that will allow your transaction to be sent relatively quickly at any given time and confirmed in up to 45 minutes.

Ethereum is the first and largest so-called smart contract platform that enables decentralized applications to run. Because they run on Ethereum, the applications (and the transactions conducted in them) are largely unstoppable. A good example of such an application could be the Uniswap decentralized exchange built on the Ethereum blockchain. On this exchange, virtually any token built on Ethereum can be exchanged for another, with no middleman and no verification.

Here are some key facts about Ethereum::

• Ethereum, like bitcoin, is built on a public blockchain
• The name of the project is Ethereum however the name of the cryptocurrency is Ether (ETH)
• The smallest unit in Ethereum is Wei
• 1 Wei = 0.000000000000000001 ETH
• All addresses in Ethereum start with 0xabcdefg...
• Any interaction with Ethereum, be it transferring Ether to a friend or using a decentralized application, will incur a greater or lesser transaction fee
• We always pay transaction fees in ETH, even if we transfer from one address to another token running on Ethereum such as USDT
• Transaction fees on Ethereum will vary significantly, even at the same time, depending on what action on the blockchain you want to perform (e.g. transferring a token or using a smart contract will be much more expensive than transferring ETH alone between two addresses)
• It is impossible to undo a transaction carried out on the Ethereum blockchain
• The time to confirm a transaction on Ethereum largely depends on the transaction fee, but it usually takes between 2 and 10 minutes.

In very simple terms, Ethereum has the ability to run decentralized applications and platforms through the use of smart contracts, or coded contract terms and the consequences of meeting and not meeting them.

If A happens - do X, and if B happens - do Y.

This is the simplest example of such a smart contract. However, the code can be much more complex and dependent on other smart contracts, allowing applications in the Ethereum ecosystem to complement each other.

A simple example of using such a smart contract could be a simple bet between Mark and Wojtek on the outcome of a World Cup soccer match. Under normal circumstances the men could use the help of Ania, who would be a trusted third party, who would hold the money they had wagered, and then pay out the winnings once the result was known. In the case of a smart contract the help of a trusted third party is not needed, the payment of the funds and the prize payout happens automatically, all you have to do is use the appropriate smart contract and you can bet even with a person you don't know at all, living on the other side of the world. In this case you would have to deposit the appropriate amount of ETH to the smart contract address and wait for the settlement of the bet.

On Bitcan, you can transfer and withdraw ETH cryptocurrency on the ERC-20 and BSC networks. This allows you to choose a network with lower transaction fees at any given time.

Tether (USDT) is currently the most popular and widespread stablecoin, whose value is pegged to the value of a dollar at a ratio of 1:1. This means that one USDT will always be worth one dollar as long as the company issuing it has adequate reserves.

However, it is worth remembering that Tether (as a company and as a cryptocurrency) is completely centralized and dependent on the actions of its issuer. Tether is most often used wherever we need to store value in dollars on the one hand, while at the same time not touching the actual dollar (e.g. for tax reasons).

Interestingly, Tether is supported not only on the Ethereum blockchain, but also on other blockchains. On Bitcan, you can transfer Tether on the ERC-20 or BSC network.

The principle behind Tether is trivially simple. The Tethera issuer adds new USDT tokens every time someone comes to it and wants to convert dollars into cryptocurrencies, one USDT token for every dollar paid, while it burns the tokens whenever a customer wants to convert USDT tokens back into dollars.

Tether's issuer supports several smart contracts running on several competing smart contract platforms (e.g. Ethereum, Tron or Solana) so when using USDT it is worth paying attention to which blockchain your tokens are on.

We currently support USDT in the form of ERC-20 tokens on the Ethereum blockchain and BSC.

On Bitcan, you can transfer and withdraw USDT cryptocurrency on the ERC-20 and BSC networks. This allows you to choose a network with lower transaction fees at any given time.