Cryptocurrencies have been touted as the wave of the future. Not only do they provide superior security than traditional bank issued debit and credit cards, they protect currency holders from financial interference by governments and tax agencies. As support for these alternative currencies steadily grows, entrepreneurs and financiers are taking notice, investing millions of dollars into blockchain technology and cryptocurrency assets. One such investor is Tesla CEO and cryptocurrency enthusiast, Elon Musk. Musk has spoken in favor of decentralized currencies and envisions a future where they will completely replace our reliance on paper money.
At SolidTrust Pay, we are looking towards the future. That’s why your STPay e-wallet is now fully compatible with Bitcoin. We’ve made Bitcoin deposits easy. Simply add your cryptocurrency wallet to your SolidTrust Pay account and enable two-factor authentication (2FA). You can learn more about setting up 2FA HERE. Your Bitcoin deposit is then instantly converted to U.S. dollars. Read our handy get-started guide HERE.
To withdraw your funds into your virtual wallet, go to My Money > Withdraw Funds > Altcoins. Please ensure that you have enabled 2FA on your account and have added a virtual wallet before proceeding with a cryptocurrency withdrawal. For step-by-step instructions, please click HERE.
What Are Cryptocurrencies?
The most famous cryptocurrency is Bitcoin. At its core, Bitcoin is a form of electronic cash. All cryptocurrencies are decentralized digital assets that are not regulated by a central bank or administrative body. They rely on strong cryptography to secure financial transactions, control the creation of additional units of currency and verify the transfer of assets.
The blockchain is a term often associated with alternative currencies like Bitcoin. However, it’s not a digital asset. Instead, it is a method of creating security. The blockchain can best be thought of as a digital ledger or record book. It is a record of transactions made in Bitcoin or another cryptocurrency (for example: Ethereum, Litecoin or Ripple) maintained across several computers that are linked in a peer-to-peer network. The blockchain represents an entirely new method of record keeping, one that does not rely on a singular point of trust for confirmation.
Please perform due diligence before purchasing alternative currencies. The crytocurrency asset class remains more volatile than any other liquid asset in the marketplace. SolidTrust Pay does not sell Bitcoin, nor do we provide virtual wallets to store your cryptocurrencies. We recommend Coinbase as one option. SolidTrust Pay has no affiliation with Coinbase and we cannot be held responsible for the outcome of Coinbase’s services.
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