User:Suvrat2688/sandbox

WORLD BANK OF CRYPTOCURRENCY
BTC wallet is the acronym of World Bank of Cryptocurrency. It came into existence in April 2012. It is just like a digital Bank for cryptocurrency presently working for Bitcoin and Ethereum. Founder of WBC is Sir George Robertson and William Shepherd. Its headquarter is located in Atlanta. 1.6 million dollars are transacted daily. More than 10 million users across 110 countries are using this app. As this application is running on deep web technology it is not within the reach of hackers. This is more secure wallet to keep bitcoins safe and secure in comparison to other wallets in the world. Due to reasons like password lost, 12 phrases lost, device lost or damaged there is no chance of losing the bitcoins because there is multifold recovery system to recover the bitcoins. The money will be transferred to nominee's wallet in case of death of the user.The main purpose behind this is to maintain cryptocurrencies of the clients in a safe and secure manner who has open the accounts with WBC. You can call it ‘The bank at cryptocurrencies’. It is like a bank account and mainly a digital banking system. It is not a wallet. WBC is the best way to start trading cryptocurrencies. To start trading with WBC you just have to open an account by downloading this app on your mobile. After this, you have to add Bitcoins in your Digi Card. The amount of bitcoins fluctuates every day when you think the price is suitable you can add your bitcoin in ‘My Account’. The approval of this transaction takes 10 days. After 10 days you will get interested according to your transaction and this interest is added to your account on Monday.

WBC WALLET -DIGI CARD
It is just like a digital wallet to keep cryptocurrency but in reality, it is your bank account in WBC. Money is transferred to digi card from 'My Account'. It has universal time to upload transfer from Digi Card.

Benefits and features:
1. Fast processing time Instant transfer time. It is not according to the fee chosen by the user. Irrespective of the amount transacted transfer fees is very nominal that is 15 percent per transaction. One has not to wait for the undefined or hours or days.

2. Wallet Recovery system There is an option to recover password through OTP on the registered mobile number and registered email ID in case of the password is lost or forgotten. If email ID or mobile number also not in the reach, fingerprints of the user will be helpful to recover the wallet. If the fingerprint is not available, national ID card number will help in recovering the wallet. The most important if the user goes die, all cryptocurrencies in the wallet will be transferred to the nominees account after the expiry of the specified non-active period.

3. Reversibility of wrong transfers If any transfer goes into the wrong wallet due to any reason and if it is requested to the support team, the transferee can be requested to reverse the transaction to the transferor. In other cases transferee is not locatable but due to all transactions are carried out within the Ambit of WBC wallets, it became possibility 4. 16 digits layered system Address of the wallet is hidden before the 16 digit number assigned to every wallet. So every transfer is although made through the real wallet address as per the blockchain but not visible to the other users and operated through the backend. So the next level anonymity is also maintained. 5. Instant conversion It is possible only in this wallet if anyone is willing to convert Bitcoin to ethereum or vice versa. Bitcoins or Ethereums are convertible at any time at the market price. This is the unique feature only available in this wallet.

Misconceptions about BITCOIN WALLET
Bitcoin is the original cryptocurrency. From the year 2009 Bitcoins has reached a significant size of market capitalization. But there are certain misconceptions about Bitcoin wallet:

a). BTC Wallet- a storage for BTC’s People usually think that a BTC wallet is like a leather wallet that stores BTC. It is a physical space that stores bitcoins and other cryptocurrencies. But in reality, the wallet is the place where you can control your coins during the implementation of transfer. '''b). Bitcoins can be printed\minted by anyone and therefore worthless''' Bitcoins are not printed or minted. Instead, Blocks are computed by Miners and for their efforts, they are rewarded a specific amount of bitcoin and transaction paid by others. To know more about mining try an app named as WBC. c). Bitcoin wallet can be hacked and harm your privacy Before 2011, most bitcoin thefts are the result of inadequate wallet security. In response to the wave of thefts in 2011-12, the community has developed risk-mitigating measures such as wallet encryption support for multiple signatures, offline wallets, and hardware wallets. As these measures gain adoption by merchants and users, the number of thefts drop.

d). Bitcoin is just a currency It is commonly heard from the people that bitcoin is just a currency. Bitcoin certainly holds value as a currency, but there is an enormity to bitcoin that will be realized through the use of blockchain and bitcoin for other applications too. It is a platform that shows how can we interact financially online.

e).Bitcoins can only be used online In the early days, it was very difficult to use bitcoin since almost nobody accepted encryption. Today, however, there are thousands of companies that accept bitcoins all over the world, and not only can they buy food but also cut their hair, hire a lawyer, and even get a lightsaber. There is a useful application called Bitcoin Map, which allows users to know which physical companies around them accept Bitcoin.

f). There is a risk that the other party will not pay When you send payments to conventional banking institutions, the bank assumes counterparty risk, ensuring the availability of funds from the issuer. It is believed that using Bitcoin is unsafe because it is possible to withdraw your money and not receive what is sent to you. The Bitcoin network is not established in a debt system like the traditional banking business. In Bitcoin, network offers are automatically checked and there is no need to harmonize them. Bitcoin works in building the "availability of funds", in fact with a net Bitcoin balance, available in your portfolio. You can not spend what it is not. The transaction cannot be confirmed in the absence of a positive balance. The network "knows" the Bitcoin address from which a transaction is made, knows a quantity and a destination address

g.) consumer have to buy a whole bitcoin It is a common misconception among people that if anybody wants to trade in bitcoins, he\she have to buy the whole bitcoin. But this is totally false. A Bitcoin can be bought or sold in a fraction. You can send or receive very small amounts of bitcoins on the network as it can be divisible down to eight decimal places.