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With FAQ, you can easily get up to speed on all things cryptocurrency and DeFi related. From the basics of how these products work to more advanced concepts, we’ve got you covered. And because we know that everyone’s needs are different, we offer a variety of account types so you can find the perfect fit for your investment goals.
Because, no one besides you can access your wallet. We don’t collect any personal data.
In order to increase security, Miracle Wallet is a self-custody crypto wallet that gives you control over your crypto, keys, and data. With one simple app, you can now safely store your crypto and rare NFTs.
You can now use your crypto in a whole new way with the Miracle Wallet. It supports hundreds of cryptocurrencies and decentralized applications, so you’re covered no matter what type or number of coins that are worth!
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Cryptocurrencies are difficult to counterfeit because of the cryptography used to secure them. A cryptocurrency’s organic nature, which is the most alluring aspect of it, is its most important characteristic. As governments are theoretically unable to interfere or manipulate them, governments cannot issue them.
All cryptocurrency transactions are recorded in a blockchain. A cryptographic hash of the previous block and a timestamp are included in each block. Bitcoin nodes utilise the block chain to determine whether a transaction is legitimate or if the sender is attempting to double spend coins that were already spent elsewhere.
An individual or group of individuals known as Satoshi Nakamoto created Bitcoin, a cryptocurrency and payment system, in 2009. Bitcoin operates without a central authority or banks; bitcoins are issued collectively by the network. Bitcoin is open source; its design is public and free for everyone to utilise. Because of its numerous advantages, Bitcoin can be utilised for some pretty interesting applications that were previously impossible. Everyone is welcome to participate.
New cryptocurrencies are created through a process called “forking.” Forking is when a group of developers creates a new version of a cryptocurrency from an existing one. The new currency has its own blockchain and is often identical to the old currency up until a certain point. Bitcoin Cash, for example, was created by forking the Bitcoin blockchain.
ICOs are used by new cryptocurrency ventures to raise money by offering tokens to early supporters. Startups may use ICOs to finance their expansion efforts.
Computer protocols that facilitate, verify, or enforce are known as smart contracts. Smart contracts can be used to perform verifiable transactions without relying on third parties. These transactions can be tracked and irreversible.
A blockchain is a digital ledger of all cryptocurrency transactions. Each block in the chain contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin nodes use the block chain to differentiate legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Mining is how new cryptocurrencies are created. Miners are people who use powerful computers to solve complex math problems. When they solve a problem, they are rewarded with a cryptocurrency. Ethereum, for example, rewards miners with Ether.
Forking is when a group of developers creates a new version of a cryptocurrency from an existing one. The new currency has its own blockchain and is often identical to the old currency up until a certain point. Bitcoin Cash, for example, was created by forking the Bitcoin blockchain.
A wallet is a software program that stores your public and private keys and interacts with the blockchain to enable you to send and receive cryptocurrency.
A private key is a string of numbers and letters that allows you to access your cryptocurrency. If someone else has your private key, they have access to your currency.
A public key is a string of numbers and letters that allows people to send you cryptocurrency. Your public key is like your email address; it’s what people use to send you currency.
A blockchain explorer is a website that allows you to view all the transactions on a given blockchain. Blockchain explorers are useful for seeing the status of a particular transaction or address and for finding information about a specific block or chain.
A dApp is a decentralized application. It is an application that runs on a decentralized network such as the Ethereum blockchain.
A DAO is a decentralized autonomous organization. It is an organization that is run by code rather than by people. The code governs how the organization functions and how it makes decisions.
A DEX is a decentralized exchange. It is an exchange that allows you to trade cryptocurrency without the need for a third party.
KYC stands for “know your customer”. It is a process that exchanges use to verify the identity of their users. This usually involves submitting documents such as a passport or driver’s license.