AnkerPay

What is Bitcoin?

Bitcoin is a consensus network that enables a new payment system and completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet.

Can I buy Bitcoin with MoyaPay?

Yes, you can! Not only can you buy Bitcoin using your MoyaPay application, but you can also fund your account by selling Bitcoin. Users need to be registered with MoyaPay in order to use the service. Onboarding takes only a few minutes. Once you are registered go to the AnkerPay app and Buy or sell within minutes.

IMPORTANT WARNING:

When buying Bitcoin only send it to your address or your families address. Do NOT use a stranger’s Bitcoin address when buying Bitcoin. Since Bitcoin is like cash when you send it to fraudsters, crooks, and scammers there is no way to retrieve it. AnkerPay cannot be held liable for a loss of funds if your Bitcoin is sent to anywhere other than your wallet. When selling Bitcoin via AnkerPay, make sure you send the Bitcoin to the correct AnkerPay address shown on the AnkerPay website in MoyaApp. Do NOT send it to an address that is provided to you by someone else. We will only display the AnkerPay Bitcoin address on the website in MoyaApp. We will never send it to you or ask you to send it to someone else.

How to set up a wallet to buy or sell Bitcoin on MoyaPay:

In order to Buy Bitcoin users need a Bitcoin wallet. There are many Bitcoin wallets for the best experience consider using the following:

AnkerPay Wallet
Coinomi Wallet
Exodus Wallet
Muun Wallet

When setting up a wallet it is important to keep your seed phrase in a safe place. Never reveal or show it to anyone. Neither AnkerPay or MoyaApp will ever ask for your seed phrase.

Who created Bitcoin?

Bitcoin is the first implementation of a concept called “cryptocurrency”, which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.

How does Bitcoin work?

From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive bitcoins with them. This is how Bitcoin works for most users. Behind the scenes, the Bitcoin network is sharing a public ledger called the “blockchain”. This ledger contains every transaction ever processed, allowing a user’s computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending bitcoins from their own Bitcoin addresses. In addition, anyone can process transactions sing the computing power of specialized hardware and earn a reward in bitcoins for this service. This is often called “mining”. To learn more about Bitcoin, you can consult the dedicated page and the original paper.

Bitcoin Lightning

What is Bitcoin Lightning?

The Lightning Network is a second layer added to Bitcoin’s (BTC) blockchain that allows off-chain transactions, i.e. transactions between parties not on the blockchain network.

A Lightning Network channel is a two-party transaction method in which parties can make or receive payments from each other. Layer two enhances the scalability of blockchain applications by managing transactions outside the blockchain mainnet (layer one), while still benefiting from the mainnet’s powerful decentralized security paradigm.

Is Bitcoing Lightning different to Bitcoin?

Bitcoin lightning is different to Bitcoin because they run on different layers of the Bitcoin blockchain. However, you can easily exchange your lightning for Bitcoin or visa versa.

The Lightning Network was invented, in part, to help Bitcoin function more like the digital cash that Nakamoto envisioned. It processes transactions “off-chain” much more quickly and cheaply than Bitcoin’s core blockchain — with fees that are typically fractions of a cent.

Lightning transactions are also less energy intensive than transactions on the main blockchain.

While the main Bitcoin blockchain (layer 1) can typically handle fewer than 10 transactions per second, the Lightning Network (layer 2) can theoretically handle millions of transactions a second.

Benefits of lightning