Below you can find the list of Frequently Asked Questions. If you do not find the answer to your question, our team is always happy to help and resolve any question related to the service, please contact us at the chat room or by sending an e-mail to support@rocketbit.io
RocketBit is a European based cryptocurrency marketplace. It allows people from all around the Europe to purchase cryptocurrency in a safe manner using credit cards or bank transfer.
Cryptocurrencies are digital assets. Most digital assets are decentralized, which means they are not controlled by a single governing body, and this is what makes them more unique than traditional fiat.

Since crypto is decentralized, it is important that some rules exist to assure that transactions involving digital assets are legitimate. The blockchain stores all transaction data, chronologically tracking the public digital asset transactions that take place all over the world.

While this may sound simple, this level of data storage takes an incredible amount of work. That is why computers called miners are constantly processing advanced computations to confirm transactions. When someone chooses to use their personal hardware to mine, they are issued a small amount of crypto called a block reward.

Cryptocurrency trading means buying, selling or holding cryptocurrencies such as Bitcoin (XBT), Ethereum (ETH), Litecoin (LTC) amongst others, with the aim of generating a profit from short, medium or long term fluctuations in their prices.

Trading on the RocketBit platform can be performed by exchanging EUR for BTC.

Definitions:
  1. Decentralized - Something that has had power moved away from a specific authoritative body is decentralized.
  2. Fiat - Fiat currencies are centralized currencies, such as the U.S. Dollar or the Euro.
  3. Blockchain - The ledger that tracks digital asset transactions into sequential order.
  4. Miners - Computers that confirm transactions on the blockchain using a series of advanced computations.
  5. Confirm - Confirmations are necessary for a successful transaction. The number of confirmations is based on the number of times that the network has accepted the transaction. The more confirmations, the more likely the transaction is to be legitimate. The fewer the confirmations, the more likely it is that coins could potentially be double-spent.
  6. Block reward - New digital assets rewarded to a miner for participating in the mining process.
  7. Address - An address is an alphanumeric string of letters and numbers that is unique to a wallet. It is what is used to route digital assets across the network to a particular destination. Different coins have unique address formats.

 
Once your account has been verified, you will need to deposit funds in order to start trading.
      - transfer funds via your preferred deposit method.
      - select the desired market in the upper-left corner of your account.
     - select the order type you wish to place, enter the amount of the cryptocurrency you wish to purchase, and place a buy order through our Buy/Sell page.
 
Cryptocurrencies supported at RocketBit may also be purchased directly, using our credit card deposit option with your Visa or MasterCard credit/debit card.

 
Personal accounts are intended for personal, non-commercial use only. This means that all transfers made to and from this account type must be made using a bank account held in the Account Owner's name.

Opening a personal account is simple:
      - Register your account in RockeBit exchange.
      - Once your account has been created, choose “Personal account verification“.
      - Then proceed with filling out the verification form and upload the requested documents.
     - Once your verification request has been approved, please submit the required information in this KYC form. Completing this form may help us process your deposits and withdrawals faster.
 
We make every effort to process all verification requests in the shortest time possible. You will receive an email notifying you of the result once this has been done.
Bitcoin is a consensus network that enables a new payment system using digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or intermediaries. From a user perspective, bitcoin is pretty much like cash for the Internet.
The first step to buying Bitcoin is to open a RocketBit accout. Then every user have to verify themselves by providing personal information. Once all is done, verified users can buy Bitcoin with a credit card or bank wire by just clicking the "Buy Crypto" button from the wallet dashboard.
 
A bitcoin wallet is similar to a digital bank account. Here you can send, receive, and manage your bitcoin.

Here’s how it works:

You buy bitcoin at RocketBit, they are then sent to your wallet. In your wallet you manage your coins. Would you like to send some bitcoin somewhere else? Then you can choose the option ‘Send’ in your wallet, and enter the receiving address of the recipient. The coins will be sent from your wallet to the recipient’s wallet.

 
Yes! User funds are secured offline in cold storage. Users’ PINs, passwords, and private keys are never exposed to RocketBit employees nor to any other third party. Our security infrastructure is designed by top industry professionals according to the highest security standards available.
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