Why should people trust BTC Mobile?
Much of the trust in BTC Mobile comes from the fact that is much like a visa payment model, with transactions and virtual BTCs issued into existence via zero consumption mining, which can generate virtual BTCs in real-time, the system has been built and maintained by the BTC Mobile team and all payments can be made without reliance on a third party and the whole system is protected by mobile cryptographic algorithms and a payment funnel which uses the latest in mobile security similar to the system used for online banking and BTC Core. BTC Mobile, and the network remains secure even if not all of its users can be trusted.
Can I make money with BTC Mobile?
You should never expect to get rich with BTC Mobile or any new emerging technology which surrounds BTC. It is always important to be wary of anything that sounds too good to be true or disobeys basic economic rules, BTC Mobile is a simple adaption of BTC with improvements and mitigation of some risk factors, but users must remain prudent during the growth of BTC Mobile and users should be sure that each decision made during trading and transactions with BTC Mobile is well thought through as a mathmatically beneficial decision to the user.
BTC and the blockchain technology surrounding it, is a growing space of innovation and there are business opportunities that also include risks. There is no guarantee that BTC and BTC Mobile will continue to grow even though both are developing at very fast rates so far. Investing time and resources on anything related to BTC requires entrepreneurship. There are various ways to make money with BTC Mobile such as investment, trade speculation or running new business using BTC Mobile for payments. All of these methods are competitive and there is no guarantee of profit. It is up to each individual to make a proper evaluation of the costs and the risks involved in any BTC Mobile powered project.
Is BTC Mobile fully virtual and immaterial?
BTC Mobile is as virtual version of BTC and acts the same as credit cards and online banking networks people use everyday. BTC Core can be used to pay via mobile, online and in physical stores just like any other form of money. BTCs can also be exchanged in physical form such as the Denarium coins, but paying with a mobile phone which is the only way to use BTC Mobile and is usually the most convenient way to engage with cryptocurrency. BTC Mobile balances are stored in a large distributed network, and they cannot be fraudulently altered by anybody. In other words, BTC Mobile users have exclusive control over their funds and BTC Mobile currency (BTCv2) cannot vanish just because they are virtual and can monitored throughout the whole transaction using the BTC Mobile application.
Is BTC Mobile anonymous?
BTC is designed to allow its users to send and receive payments with an acceptable level of privacy as well as any other form of money, BTC Mobile is a KYC advocate, thus it is not an anonymous service provider. Each BTC Mobile user will be registered to the network like a visa card customer with full KYC/AML details as part of the initial sign-up., BTC core itself is not anonymous and cannot offer the same level of privacy as fiat currency, BTC Cash or BTC Mobile. The use of BTC Mobile leaves no public records, but users can track their own activity, like a debit or credit card.
Please view the Various mechanisms that exist to protect BTC users’ privacy, and more are in development. However, there is still work to be done before these features are used correctly by most BTC users, BTC Mobile negates these problems using a private, permission based protocol while protecting ID using the traditional finance user model offering individual only access.
Some concerns have been raised that private transactions could be used for illegal purposes with BTC. However, it is worth noting that BTC Mobile is subject to similar regulations that are already in place inside existing financial systems like visa, mastercard, swift and paypal, BTC Mobile also has standard which has KYC/AML upon sign-up, thus adhering to global regulatory frameworks by default.
What happens when BTCv2’s are lost (when a mobile is stolen or misplaced)?
When a user loses his mobile he does not lose his wallet, it can be accessed online or via another mobile, upon sign-up and KYC/AML being performed (Passport, Driving License) then you can reconnect with your BTC Mobile wallet. If you cancel our account and withdraw your BTCv2 for fiat, then this has the effect of removing money out of circulation. Lost BTCv2’s still remain in the block chain just like any other BTCs or cryptocurrency. However, lost BTCs remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to be spent again. BTC Mobile does not suffer from this problem due to this retrievable BTCv2 funds feature.
Can BTC Mobile scale to become a major payment network?
The BTC Core network already processes a large number of transactions per second than it did in 2017 today BTC Core has the lightning network to provide transactions. It is, however, not entirely ready to scale to the level of major credit card networks, BTC Mobile is the best alternative due to the speed of transactions being way above and beyond that of BTC (BTC), BTC Cash (BCH) and Litecoin (LTC), with speeds close to visa and paypal levels. Work is underway to improve the network and BTC Mobile application, and future BTC requirements are well known, thus we are already well on the way to solving the main problems using BTC Mobile (BTCv2) as an alternative to BTC Core. Since launch, every aspect of the BTC Mobile is a continuous process of optimization and specialization and BTC Mobile will develop more complimentary services as the community grows, more BTC users will come over to BTC Mobile as a zero energy consumption alternative to BTC Core.
Is BTC really used by people?
Yes. There are a growing number of businesses and individuals using BTC. This includes brick-and-mortar businesses like restaurants, apartments, and law firms, as well as popular online services such as Namecheap, Overstock.com, Amazon, and Reddit. While BTC remains a relatively new phenomenon, it is growing fast. At the end of April 2017, the total value of all existing BTCs exceeded 20 billion US dollars, with millions of dollars worth of BTCs exchanged daily.
How does one acquire BTCs?
- As payment for goods or services.
- Purchase BTCs at a BTC exchange.
- Exchange BTCs with someone near you.
Earn BTCs through competitive mining.
While it may be possible to find individuals who wish to sell BTCs in exchange for a credit card or PayPal payment, most exchanges do not allow funding via these payment methods. This is due to cases where someone buys BTCs with PayPal, and then reverses their half of the transaction. This is commonly referred to as a chargeback.
I’d like to learn more about BTC and BTC Mobile.
Where can I get help?
BTC Mobile – Help?
Also you can view BTC Mobile – How it works here