Frequently Asked Questions

Cryptocurrency offers numerous benefits and here are some of the benefits of using Bitcoin (BTC):-

Fast Transactions

One of the biggest problems with fiat currency is that it can take days and even weeks for a transaction to complete. This is not the case with bitcoin. Whether it’s 10 am or 2 am, you will receive your bitcoins within minutes. There are no intermediaries involved which means no more waiting time and less hassle. If you want to send some BTC to someone in another country, all you need to do is key in the receiver's bitcoin address and click send; there are no limits and the transaction cannot be reversed (unless the other party decides to send  the amount back).

Lower Transaction Fees

With bitcoin transactions there are no transfer fees based on the value of the transaction and the location of the recipient, all you pay is a small fee for miners to process the transaction.


All information regarding the bitcoin market supply is available for anyone to view on the blockchain. Although personal information is hidden, every transaction made with bitcoin is available for anyone to see.


Bitcoin transactions are anonymous thereby offreing privacy. All BTC wallet owners have one or multiple public keys which act as their bitcoin address(es) and this form the only information needed to execute a transaction. This means tha, unlike the credit card system where your name, billing address and other information are needed in order to process a payment, all you need with bitcoin is the receiver's wallet address.


The network is distributed globally among many thousands of nodes (computers) and millions of users where you don't have to rely on trusted third-parties.

Limited Supply

Bitcoins are generated at a predictable rate and have a limited supply. They will only ever be 21 million bitcoins created.

Bitcoin Payments are Irreversible

With BTC there are no chargebacks. What this means is that once a BTC transaction has been made, it cannot be reversed; the other party gets to keep the bitcoins and the other party gets to keep the product.

Bitcoin is Secure

Every single transaction gets recorded on an open distributed ledger and no one is able to make any unauthorized changes; This makes bitcoin transactions very secure.

Bitcoin is Censorship Resistant

Using a computational algorithm called proof-of-work (PoW), no one is able to block or censor transactions.

Bitcoin is Permissionless

Traditional currencies require permission to use (from banks, financial institutions, governments). Bitcoin requires no permission from anyone and is free and open to use globally. There are no borders or limits with bitcoin.

Bitcoin is Open Source

Bitcoin is Open Source which means that anyone can contribute to its development or have access to its code in order to make improvements.


Bitcoin is a form of online digital currency ("cryptocurrency") transacted on the internet which can be sent across the world in a similar way to how you send an email, using the internet. It is run on a decentralized peer-to-peer payment network ("blockchain") with no central intermediary, and powered by users. Such great features also come with great security concerns. At the same time, bitcoin provides very high levels of security if used correctly. For one to receive, store or send bitcoins, one requires to have a bitcoin wallet which is your online wallet where you can store your bitcoins.

After signing up and joining BTC Exchange, you acquire a safe, free, and simple-to-use bitcoin wallet where you can store your bitcoins. Each bitcoin wallet comes with a unique wallet address, which you can provide  to anyone, for them to send you bitcoins. Your bitcoin wallet allows you to send, receive, and store bitcoins while keeping tabs on all your transactions in a similar manner to online banking.

Bitcoin (BTC) is the first cryptocurrency and innovative payment network that was deployed in the wake of the 2008-09 crisis. It is a form of online digital currency transacted on the internet which can be sent across the world in a similar way to how you send an email, using the internet. It is run on a decentralized peer-to-peer payment network ("blockchain") with no central intermediary, and powered by users.

Nobody owns the bitcoin network much like no one owns the technology behind email and the network is controlled by all bitcoin users around the world. Any bitcoin transaction occurs through a network of nodes and is recorded on the blockchain, which is a publicly distributed ledger system. The blockchain can be seen as the most prominent triple entry bookkeeping system in existence.

From a user's perspective, bitcoin is pretty much like cash for the Internet. Bitcoin payments are easier to make than debit or credit card purchases, and can be received without a merchant account. Payments are made from a wallet application, either on your computer or smartphone, by entering the recipient's wallet address, the payment amount, and clicking the confirmation to send. To make it easier to enter a recipient's address, many wallets can obtain the address by scanning a QR code or touching two phones together with NFC technology.


BTC Exchange prioritizes the processing of Bitcoin transactions, especially those that are sent with the correct fee. If the Bitcoin transaction is sent using the correct fee, it will take between 10-60 minutes when you are transferring bitcoins from your BTC Exchange wallet. However, all transactions between BTC Exchange users are instantaneous. 

To check the status of the Bitcoin transaction:

  1. Check the transaction information from the wallet transaction history page on BTC Exchange. Obtain information on the transaction ID or the receiving wallet`s address. 
  2. Visit
  3. In the search field, key in the transaction ID or receiving address
  4. Click on transaction information to obtain more information on it 
  5. Check the place where it shows you the number of confirmation shown by the transaction. 

If the transactions contain;

  • Over six confirmations it indicates that the transaction is complete and the receiving wallet has received bitcoins
  • It is unconfirmed and has between 0 and 6 confirmations it indicates the transaction has left the sending wallet and is on the way
  • Unable to find the transaction- it indicates the transaction was never initiated from the sending wallet, and you should contact the owner of sending wallet.

After successfully purchasing Bitcoins on BTC, the bitcoins are deposited in your BTC Exchange wallet. If you have bitcoins on your wallet, you can easily send them to another bitcoin addresses since most of the bitcoin services are compatible with each other. You can also use your bitcoins to pay for goods and services in online stores that accept bitcoins as payment. To transfer your bitcoins from your BTC Exchange wallet to other parties, you simply enter the receiver`s wallet address and the number of bitcoins you wish to transfer and then click on continue. 
The prompt will lead to another page where you will review the details and then enter your password, after which you will be required to enter a two-factor authentication code, after which the transaction will compete as successful.

BTC Exchange allows over three hundred and fifty payment methods on the platform, which gives users a wide variety of payment options to help boost convenience. However, some payment options such as Paypal and Credit cards have been criticized since they have very high transaction costs as compared to others, such as Cash Deposits, mobile payments, and bank transfers. The reason for the high transaction charges on payment methods such as PayPal and Credit cards is that sellers need to protect themselves from fraudulent buyers. When selling the bitcoins, PayPal and a bank can take the money paid by the individual from their account, which necessitates the need to have high payment prices to help protect themselves from some inherent risk. 
One of the unique features of Bitcoins is that they offer the user much control over their cash, which makes it assume a very different approach as compared to traditional cash. Since Bitcoin transactions are irreversible, online payment options come with higher costs due to higher transaction risks.
It is hence highly recommended that for you to acquire the best price on the site and make use of a hard to reverse payment methods such as bank transfer, mobile payments, and cash deposit. In the buy bitcoins tab, you can search for the payment method of your choice based on convenience and price.

Yes, it is possible to purchase less than one bitcoin. Each advertisement from sellers has its limits, which indicate the least and highest figure of Bitcoins that one can purchase from a selected advertisement. The limits indicate the highest and lowest amounts of bitcoins that one can purchase from that specific trader. The smallest unit of Bitcoin that one can purchase on the platform is 0.00000001 BTC, which equates to one satoshi.

Once logged in to your BTC Exchange account, in the seller's advertisements, you will see the price of the Bitcoins. For instance, if one is in the United States and wants to purchase bitcoins using US dollars, the price would reflect as 9032.14 USD/BTC. The translation for this means that one bitcoin translates to about 9032.14 USD.

We recognize that there exist multiple online scams related to transactions involving bitcoins, which include blackmail, fake exchanges, impersonation, malware, phishing emails and phishing websites, ransomware, and pyramid schemes. At BTC Exchange, we protect all online trade using escrow. Whenever a trade is initiated in the platform, escrow reserves the number of bitcoins that corresponds to the amount of money traded automatically from the seller`s BTC Exchange wallet. Such a capability means that in case the seller decides not to honor the trade agreement of transferring the bitcoins to your BTC Exchange wallet, then the BTC Exchange wallet support will release the purchased bitcoins from escrow. The same applies to sellers who are selling Bitcoins on the platform. You are advised to never release escrow before confirming receipt of money from the Bitcoin buyer.

How do I purchase and sell Bitcoins? 

If you are a new user of BTC Exchange and want to learn how to purchase Bitcoins, you can check our user guide on how to buy bitcoins on the platform through this link https://www.BTC

 If you are a new user of BTC Exchange and want to learn how to sell Bitcoins, you can check our user guide on how to sell bitcoins on the platform through the following link https://www.BTC

BTC Exchange is a peer-to-peer bitcoin exchange platform that offers buyers and sellers with a virtual marketplace in which they can purchase and sell Bitcoins amongst each other. The platform has over 350 payment options, which makes it extremely easy for users to acquire suitable offers on-site. The users in the platform, who are also called traders, create advertisements on the platform with the price and preferred payment method which they are offering. Once you sign up on BTC Exchange, you can then browse through the website in which you will view the trade advertisements while searching for the preferred payment method.