1. What is cryptocurrency, where does it come from?

Cryptocurrency is a means of payment that exists only on the internet. It has no paper form and its value is not dependent on governments.

Usually, to transfer money from one person to another, you need an intermediary - a bank. It's different with cryptocurrency: the bank is not involved in the exchange. Cryptocurrency is built on the blockchain system - a chain of information blocks. They are used to transfer digital money from person to person without an intermediary.

In 2009, the first digital currency, bitcoin, appeared, and since then, the number of cryptocurrencies has been growing.

2. What is a crypto wallet, where does it come from?

A crypto wallet is a digital wallet that allows users to securely store, transfer and receive cryptocurrencies. Think of it as a real wallet that you carry anywhere you go, and it's designed for digital goods only, not cards and cash. It's important to remember that crypto wallets do not physically store your cryptocurrency, but provide account information and allow you to make and receive transfers, similar to a banking app

3. What are public and private keys?

To transfer and exchange digital money, you need to have two kinds of encryption keys:

private (confidential)

public (open)

The public key is the address (account) to which the digital money is sent. Other users can see it, that's why it's called public. The public key is used to perform the encryption process - creating the transaction.

But the transfer will not be approved on blockchain if it lacks a digital signature. The private key is used to create this signature. Without it, the user will not be able to send cryptocurrency to other wallets.

If the private encryption key is lost, the wallet owner will not be able to access their funds. Even if someone sends them digital money, they won't be able to use it

4. How do creators get internal wallets?

All private keys for the blockchain are held by CoinAge. The company is crypto-licensed and provides secure storage of crypto-assets and private keys. All keys are encrypted. CoinAge cannot transfer your keys to third-party companies, and cannot use them on its own without the key that is generated during wallet creation and stored in the user's profile.

IMPORTANT! If your MC Pay account is deleted, there will be no way to get or restore access to your crypto wallet!

5. How are cryptocurrencies created and distributed?

Bitcoin, Etherium, BNB and USDT are prime examples of the leading cryptocurrencies in terms of market capitalization.

Cryptocurrencies are usually based on the use of blockchain technology, which describes the way transactions are recorded in time-stamped blocks. This is a rather complicated technical process that results in a digital registry of cryptocurrency transactions that is quite resistant to hacking. The creator of blockchain and cryptocurrency can be anyone. Blockchain creators typically distribute cryptocurrency in the following ways:

- ICO is an unregulated means by which funds are raised for a new project

- mining means production of cryptocurrency using the technical power of a computer via software deployment

- airdrop is the distribution of cryptocurrency in the early stages of the project. It is usually distributed for testing the platform, welcome bonuses, inviting other users, social media subscriptions, and social media mentions

- listing cryptocurrencies on exchanges gives you the ability to buy or sell cryptocurrency at any time on the exchanges it is listed on

- Crypto exchanges usually sell the most sought-after cryptocurrency

6. Who is a provider?

Provider is our designation for the company that directly performs the transfers and transactions. For cryptocurrency transfers, we partner with the following companies:

- CoinsPaid

- CoinAge

7. Who has what fees?

Fees depend on the currency as well as the crypto transaction provider, you can find the fees for crypto wallets (CoinAge) here https://coinage.lt/docs/fees

You can find fees of crypto methods here.

8. What are the good things we do for creators?

We give you the opportunity to buy the most popular cryptocurrencies (digital assets), and then pay with it or use it at your own discretion.Pros:

crypto wallet creation speed

reliability of withdrawals and deposits

safety, all assets are insured, in case of hacking or hacker attack, users will definitely receive their assets in full amount

fast exchange, instant exchange between cryptocurrencies

the following currencies are available for crypto wallets:

BTC - Bitcoin

ETH - Ethereum

BNB - Binance Coin

USDT (TRC20) is the stablecoin on the Tron (TRX) network

USDT (TRC20) is the stablecoin on the Etherium (ETH) network

9. What is a stablecoin?

Stablecoin is a token whose creators guarantee its fixed value 1-to-1 tied to national currencies such as USD, EUR and others.

The most common stablecoins tied to USD:

USDT

BUSD

USDC

10. What are tokens in cryptocurrency?

The first tokens in the current understanding appeared only in 2015 with the launch of the Ethereum platform. It was used to implement features to create digital assets without a new blockchain. They operate within the core network and can be freely transferred between users and traded on exchanges.

It's easier to create tokens than coins with their own blockchain. You don't have to create a protocol from scratch or even edit it to do this. You just need to follow the guidelines provided by the specific platform - Ethereum, Tron, BNB Chain, Cardano, etc. Sometimes you don't even need programming skills to do this. The most common tokens are stablecoins

11. Why Trc/Erc?

Trc20 and Erc20 are blockchain protocols. Trc20 tokens are created on the Tron blockchain - TRX cryptocurrency, and Erc20 tokens are created on the Ethereum blockchain - ETH cryptocurrency

12. Why is it important to choose the right wallet?

Cryptocurrency transfers are irreversible - no one can cancel, block, dispute or force a transaction (without a private key). Therefore, it is important to check that the chosen wallet matches the currency and blockchain of the withdrawal. We don't have cross-platform payouts, so we can't withdraw BTC to the Erc20 network.

IMPORTANT! All transactions with incorrect addresses and networks will result in loss of funds

13. How is the exchange rate formed?

We request the purchase rate from the provider we work with via API request. Since the time of creation in MC Pay is not equal to the time of confirmation and purchase of cryptocurrency, the preliminary rate may differ from the actual rate (the change can be in either direction)

The rate itself is formed on crypto exchanges by the actual supply and demand, as well as the price of the last transaction made. If crypto exchange users are willing to buy cryptocurrency at a price higher than the last transaction, the rate goes up. If users are actively selling cryptocurrency at a rate lower than the last transaction, the rate drops.

14. What is exchange rate trading?

Since the rate of cryptocurrencies changes every day, earning on the rate becomes possible and acceptable, just buy when the market price decreases and sell at the moment of cryptocurrency price rise

15. What to do if the funds have not reached the account?

First of all, you should check the specified wallet number and its status (whether it is activated). Also make sure the platform/wallet supports the requested token type. If all steps have been completed, please contact us to determine the cause.