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Common Crypto Questions

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Here is a list of questions that come up frequently in regards to crypto currencies. If you have a suggestion for a question to add to this list, please reply below.

  • Whats the safest cryptocurrency?

All cryptocurrencies are vulnerable to being stolen or hacked. Its only the precautions that you take, like having a hardware wallet, or 2FA, that help keep them safe.

  • Will I be charged a fee every time I move cryptocurrency from a wallet to an exchange, exchange to wallet, and wallet to wallet? Should I try to consolidate my transfers to as few as possible?

Each transaction has a cost. The amount depends on the currency. The ones with poor scalability like BTC charge a lot for a transaction.

  • Can I store BitCoin, LiteCoin, etc. on the same wallet?

No. And you'll lose coins when sending them to incorrect wallets. Be sure to not mistake BTC for BCH for example.

  • I read that each coin gets its own address. If I own 100 LiteCoins, does that mean I need 100 addresses, and 100 keys?

No. Bitcoin has one type of address different than lets say Litecoin which has its own type off address. One address may contain many of the same type of coins.

  • Is the total value of BitCoin (or any other coin) equal to the total amount of fiat paid in to buy in? Or are there other factors at play?

Not really. It is the total supply times the last deal price. If I paid $100USD, and you then paid $200USD, my portfolio will double in paper value, but I still have paid $100USD only.

  • What's the advantage of buying Bitcoin over LiteCoin, or LiteCoin over Ethereum etc?

Do your own research, ask questions on this forumĀ and try to come to a conclusion on your own.

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