Frequently Asked Questions

What is Bitcoin?

Bitcoin is an online open-source cash currency, which can be paid for through a completely decentralized P2P network. The main uniqueness Bitcoin is its full decentralization; is designed so that no one author or by other individuals, groups or governments could not otherwise influence the currency, destroying, falsifying, confiscating accounts, check or cash flows cause inflation. In the network there is no central point, or anyone who might decide on the network. Bitcoin is a deflationary currency. The total amount of money is finite and known in advance, and its release into the circulation is only defined mathematical laws. The network underway payments for minimal or no cost. (Wikipedia)

What is Bitcoin wallet and how do I get it?

Bitcoin wallet is a place where you keep your Bitcoins. From the user perspective it is an application that you can install on your computer or smartphone. There are also online wallets. They allow you to keep Bitcoin on the Internet, they work just like internet banking. The recommended way to store them is a desktop application, for example Multibit - you can download it directly from the official website multibit.org. If you need any help with installation or setting up the wallet, feel free to contact us . We will help you.

How does the transaction process?

Buying Bitcoins on SimpleCoin.eu starts with placing an order. On the front page, choose the amount of BTC you want to buy, enter an email address and the address of your wallet. If you need help obtaining the addresses or the wallet itself, contact us and we will advise you.

Immediately after submitting your order you will receive an email with the confirmation of the order and information needed for the bank transfer. We recommend that you send the payment from one of the banks on the list. If we do not receive the money sent 4 hours from the order , we cannot guarantee its original exchange rate. We are constantly expanding the number of banks in which we have accounts. If you are unsure how long the transfer from your bank will take, contact us .

Your payment will be automatically paired with your order. At that moment, our team will be informed immediately and we will send Bitcoins to the address specified in the order. Sending BTC is done manually for safety reasons. At the same time you will get mail from us confirming delivery with the Bitcoin transaction identifier.

In exceptional cases, we reserve the right to cancel the order without giving a reason. In this case, you will always inform you by email and in the shortest possible time, we will return your Bitcoins or money.

What does it mean that we deliver orders immediately?

With regard to the safety of our system, not all actions are fully automated. The money/Bitcoin transfer is implemented manually. We try to clear all orders in the shortest possible time. In the vast majority of cases it only takes a few minutes. In exceptional cases, it could take from few minutes to several hours. If this happens, we will always contact you via email to confirm that you want to process with your order. If not, we will cancel the order and in the shortest time possible, return your Bitcoin or money.

How long does a bank transfer take?

Each bank has different rules. Generally, it is the fastest to send payment within one bank and ideally during working hours. Some banks also carry out immediate transactions. It is advisable to check with your bank, or your and we will advise you.

In which banks do you have accounts?

At this moment we have an account in

Fio Banka

What if the money arrives after more than 4 hours?

In most cases we are able to hold the promised rate for more than 4 hours. Although there may be a situation when the price is growing rapidly and at the same moment we have too many large orders to deliver and we have to buy more Bitcoins from other sources. In this case, someone from our team will always contact you via email with the proposal of further process. Such cases are dealt with individually and personally. We always try to find a solution that will suit you. Can we agree on a new exchange rate or a refund to your account.

How do I know that you will actually send me Bitcoins for my money?

We are a Czech company and abide by Czech law. Our strategy is not to accumulate funds or Bitcoins. For the money you send us, you get Bitcoin, which is immediately sent into your wallet.

We reserve the right to refuse any order without providing a reason, even in case when we receive your Bitcoins or money. In this case, the funds will be returned immediately.

How long after delivering the order will the Bitcoins appear in my wallet?

At the moment of receiving email confirmation of Bitcoin transaction, it has already been sent out. The operating principle of the Bitcoin network must still verify the transaction. Verification is done automatically within the network and can take from several minutes to tens of minutes. The email will also contain the transaction identifier by which you can track the progress of verification.

What is the transaction identifier and how do I get it?

Each transaction in the Bitcoin network has its own identifier. It is about 64 characters long, unique string of numbers and letters. The identifier may look like this "c5370cbc702dde4fc1e7de5e99ad3be2bd831b3c928bd5932d6f18c0be7506d6".

If you want to exchange your Bitcoins for Euros, we will ask you to enter the transaction identifier. This transaction will allow us to pair the payment with your order. Transaction identifier is available after you send the transaction to the Bitcoin network. In most commonly used wallets obtaining the identifier is very easy, you go to the "Transactions", click latest transaction and copy the Transaction ID.

Another option is to find an identifier on one of the online services. For example, blockchain.info . In the search box, enter the address of your wallet, and you should see a list of recent transactions, including their identifiers.

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