Cryptocurrencies are digital currencies (like Bitcoin, Ethereum, Litecoin and other currencies you can buy on our platform), which are not controlled by state-based central banks. In most cases they should be treated as a currencies, but not fiat currency. Others can be as well regarded on the same time as store of value like precious metals. One of the main differences is that there is a specified limit of cryptocurrency tokens/coins which cannot be exceeded.
Currency made and backed up by the state authorities and central bank, like US dollar, Euro, British pound etc. Unlike with cryptocurrencies, at any moment given the state/central bank can simply print out more of the fiat currencies.
Right now all the stocks, banks, fiat and cryptocurrencies require electricity and internet for all the sorts of financial transactions. Over 90% of all fiat currencies we have now are technically precisely as real as cryptocurrencies – digital.
Most of the cryptocurrencies are pretty new (Bitcoin was first one, first transaction was concluded in 2010, most of the cryptos are on the market for less than 4 years by now), and more and more are being developed even as you read this. Yet on our exchange you have most reliable ones.
Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), EOS (EOS), Litecoin (LTC), Monero (XMR), Z Cash (ZEC), Augur (REP) – and we are currently working on introducing new ones.
Yes in order to withdraw the purchased cryptocurrency you need to verify your account. Different withdrawal limits require different types of verification(beside phone verification which Is obligatory for ALL other types in the first place). In case when some of the documents are of insufficient quality/there are any doubts regarding their authenticity, the compliance department is entitled to request additional documents to verify customer at ANY of the levels. This is a requirement as imposed upon Linkkoin by legislation requiring conformity with KYC (know your customer) and AMLP (anti-money laundering policy), which is an international standard for financial transactions in XXI century.
At the moment, on Linkkoin you can buy cryptocurrencies with your credit/debit card (VISA for the world, or Mastercard issued in UK), Apple Pay, PayPal - yet we are working on introducing another methods.
Yes, the minimum purchase amount (depending from the currency you have selected) is 30USD/100PLN/25 GBP/30 EUR. Maximum purchase per single transaction is an equivalent of 1 000 USD/4 000PLN/1 000GBP/1 000EUR.
Cryptocurrency transfers between wallets (just like regular bank transfers) are not reversible – then if you made a spelling error, you cannot get your crypto back. Please doublecheck the wallet number twice before confirming transaction.