BITCOIN INFORMATION
CONTENT
1. Introduction
2. Acronyms
3. Bitcoin Guidelines
- How to register an Altcoin Trader account
- How to deposit money on Altcoin Trader
- How to withdraw money from Altcoin Trader
- How to buy Bitcoin
- How to sell Bitcoin
- How to transfer Bitcoin
4. Conclusion
Introduction
On Cap Coin, financial transfers – Help can also be provided among participants
in Bitcoins. Bitcoin is a digital currency in which encryption techniques are used
to regulate the generation of units of currency and verify the transfer of funds,
operating independently of a central bank.
Bitcoins can be used to buy goods and services in many countries all over the
world, these are easy to transfer and can be sent to anyone in the world. A lot of
people may not be familiar with the Bitcoin currency, but it is as good/if not better
than local currency – ZAR for example. As for South Africa, its first Bitcoin ATM
is in Kyalami, in Midrand and many companies are accepting Bitcoin transactions.
Like cash is facilitated in banks, Bitcoins are held and facilitated under Bitcoin
Exchange Platforms/Networks. Where Bitcoin can be saved, withdrawn,
deposited, transferred or even traded, like cash, in a Bitcoin accounts or wallet.
Altcoin Trader is the newest of the South African Bitcoin Exchanges Platforms.
With this exchange you are able to trade your Rand for Bitcoin quickly and easily.
This platform is simple and easy to use. Other Bitcoin Wallets such as XAPO
offers debit cards, which can be swiped for payments. Moreover Bitcoins can be
converted and withdrawn in Rands.
Below are simple guidelines on how to register and operate an Altcoin Trader
account or wallet.
Acronyms:
BTC – Bitcoin
ZAR – South African Rand
USD – United State Dollar
Bitcoin Guidelines:
NOTE: Altcoin Trader is (preferably) used as an Example although there are a
number of Bitcoin Wallets one can use. E.g. XAPO and BITX.
HOW TO REGISTER AN ALTCOIN TRADER ACCOUNT
1. You can use any web browser to get to Altcoin Trader (preferably Google
Chrome or Mozilla Firefox):
Type in Altcoin Trader in to the search engine (Google preferably)
Click where it says Altcoin Trader on the results
2. On the Altcoin Trader page
Click on the “Register” tab on top right, of the web page
3. Register an Altcoin Trader account page
- Fill in the information required, and click on the “REGISTER” tab at the bottom
4. Alt Coin Trader account has been created.
- You need to activate your account before you can start using it by logging in to
your emails and click on the activation link that was sent by Altcoin Trader.
- Open the email from Altcoin Trader, and click on the link sent. Refresh your
emails page if you don't see the email.
- You will be channeled to a success confirmation page.
5. Login with you username and password.
- You are logged in to your new Altcoin Trader account/wallet. On the page:
- The highest row is written you’re “Name”. The second (highest) are “Tabs” to
other pages. The third one are “Balances” (focus on Bitcoin BTC and ZAR
which is South African Rands).
- The rest of the information is exchange and trading rates, according to
currencies. Bitcoin is on the far left in yellow. Click on the “news” tab to read
more about trading Bitcoin.
HOW TO DEPOSIT MONEY ON ALTCOIN TRADER
- Any money from $ 100 can be deposited on Altcoin Trader.
- Keep in Mind that you need a Bitcoin Address which is Similar to your Bank
Account Number, This is where your Bitcoin will be deposited
HOW TO GET BITCOIN ADDRESS
- Click on Deposit Funds/Coins then Click on Request Bitcoin Address if you
don’t have one Already
- You will be given a Bitcoin Address. This is a very long number, You’re
Advised to copy and Paste it to make sure you don’t miss characters, if you do
you will lose money.
HOW TO DEPOSIT MONEY INTO YOUR ACCOUNT/WALLET.
- Your Altcoin Trader account number - Reference (Don’t Confuse with Bitcoin
Address) is to be used as reference for every deposit made from Bank to
Altcoin Trader. Please be very careful. Use Altcoin Trader FNB or ABSA
Account to make a deposit and Use your Altcoin Trader account as reference.
- After the deposit, your balance in ZAR will be displayed on the home page top
right.
HOW TO BUY BITCOINS ON ALTCOIN TRADER
- The balance available will be displayed on the home page top in BTC.
- You can use Online Converters to convert your Bitcoins to Dollars then to
Rands in Order to find out how much you have in your currency.
HOW TO CONVERT BITCOINS TO DOLLARS - click on the link below or
copy and paste on Browser.
http://www.coindesk.com/calculator/
- Insert Bitcoins in the Left Box, It will display The Amount in Dollars in the Right
Box.
- Then Convert your dollars to any Currency. E.g. using ZAR – Click on the link
below to convert Dollar to Rand.
https://www.google.co.za/?gfe_rd=cr&ei=IenCVoCfDumo8wewurvAAQ#q=curr
ency+converter
LET’S BUY BITCOINS AND START PARTICIPATING
- Click on My Trade to go to Home.
- Enter Amount of BTC to Buy it will show the Total that has to be paid for those
BTC. Check first if you have that amount before proceeding. Sometimes it will
go on the queue but it’s very quick. If it goes on the queue, your balance will
still Change before you receive your Bitcoins (depending on the exchange
rate).
HOW TO SELL BITCOIN ON ALTCOIN TRADER
- Same concept as above, but use the fields on the right Under Sell BTC.
HOW TO WITHDRAW MONEY FROM ALTCOIN TRADER
- Click on Withdraw Funds/Coins
- Fill in your Banking details and Click on Update banking details. Enter the
Amount of Money to Withdraw and Click Withdraw.
- You have successfully withdrawn Money from Altcoin Trader and will receive it
soonest depending on type of banks used for the transaction.
- NOTE: ALTCOIN TRADER WILL REQUEST FOR YOUR PROOF OF
RESIDENCE AND ID DOCUMENT, KEEP THESE READY IN SCANNED
FORMAT SO THAT THEY DON’T STOP YOU FROM PROCESSING YOUR
TRANSACTIONS.