Category: Practical Knowledge

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How-to Detect a Scam II

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How-to Detect a Scam II

In the first part of this article we analyzed the website of Sweden Coin. In this part I’ll continue the story and tell you about what happened after I registered. I will also provide some details from my acquaintances acquaintance to share details of what happens once you actually send money to kryptonexlabs. Red Flags […]

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How-to Detect a Scam

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How-to Detect a Scam

So the other day an acquaintance of mine told me that an acquantaintance had bough a new cryptocurrency. I was immediately intrigued and inquired for more details. I was then sent a website that proclaimed to know the secret name of the cryptocurrency which will become Sweden’s officially adopted cryptocurrency. They further claim that knowing […]

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Why Wait For 6 Confirmations?

Why Wait For 6 Confirmations?

Most exchanges only accept deposits of Bitcoins after 6 confirmations. What does this mean and why is 6 supposed to be such a magical number? To understand this we first need to understand how a blockchain works. If you haven’t yet read the blockchain article it is recommended that you do so first. I will quickly repeat […]

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Types of Exchanges

Types of Exchanges

Today there are different types of exchanges. Basically exchanges are online marketplaces where users can buy and sell cryptocurrencies. Depending on the exchange this can be achieved with fiat (USD, EUR,…) or cryptocurrencies and sometimes only with cryptocurrencies. Which types of exchanges are available? The “Traditional” Exchange Basically these work like a stock exchange. Potential […]

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Don’t Buy Bitcoin From SBB Ticket Machines

One of the easiest and quickest ways to buy Bitcoin in Switzerland is at the SBB ticket machines. This service is offered in collaboration with SweePay, a Swiss “financial intermediary” company based in Zug. You can only make purchases between 20 and 500 CHF. Also you need to have a bitcoin wallet installed and have […]

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Buying Bitcoin From Switzerland

There are various ways to buy Bitcoin. The way that works for you mostly depends on the amount of money you would like to invest in Bitcoin and the amount of information / privacy you’re willing to give up. From my understanding the days of anonymously buying large sums of Bitcoin are over. Exchanges now […]

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