General Questions
1. What is Bitcoin actually?
Bitcoin is the candidate of the global currency in the next era.
In simple words, its working mechanism use a new technology called blockchain utilizing cryptography that requires computers all over the world working together to confirm transactions. More>>
2. How to choose / install cryptocurrency wallets?
Crypto wallets include hot wallet and cold wallet. Most of the people would use hot wallet.
Different wallets are run and operated by different companies. You should choose the ones with good reputations.
You may take a look at our wallet recommended list here, and our wallet installation tutorial here.
3. Who determines the price of bitcoins?
Market determines the price of bitcoins. Its price is changing every moment. People buy and sell bitcoins 24/7 at different cryptoexchanges, and the supply and demand determine the price.
4. Why there are so many scams and frauds in the crypto space? Transactions of cryptocurrency on blockchain are non reversible. Customers must not transact with unidentified strangers. The criminals deceived them by different made-up stories or investment plans, and victims transferred them either fiat currency or cryptocurrency. The criminals would not be reached after getting the money from the victims.
faq
Trade Questions
1. How do I buy cryptos?
During the face-to-face transaction processes, you give us cash and confirm the amount, we will transfer cryptos to your address. You will receive an invoice.
2. Do I need to provide identity verification documents?
Transaction amount <= 120,000 HKD: No identity verification are required.
Transaction amount >120,000 HKD: You are required to provide your HKID / valid passport. You may be required to provide address proof (recent 2 months).
3. How long will I receive the bitcoins?
It depends on the blockchain network. While the transaction is waiting to be confirmed on blockchains, it obtains "number of confirmations". 3 confirmations is assumed to be safe and irreversible in general.
Each confirmation generally takes 10 minutes on average. Therefore, normally in total 30 minutes is required to complete the transaction. However, if blockchain congestion occurs, it could take up to a few hours to finish a transaction.
4. How do I sell the bitcoins when its price goes up later?
You can sell them back to us! Or you can sell them to any bitcoins buyers in the market.
5. What payment method do you accept?
We accept cash only.
6. Why should I choose One Satoshi?
Our mission is to provide the lowest selling price for bitcoins in the market. Compared to other market sellers at the moment, like Bitcoins ATM, you may be charged as high as 10%, plus you may need to pay the sending fees.
Moreover, since you are trading with us face-to-face, you would obtain high quality services from us. All your questions would be answered and confusion cleared.
7. Is it legal to purchase Bitcoins in Hong Kong?
Yes, it is absolutely legal, as long as your funds are legally obtained. For regulatory and compliance concerns, you may visit our policy here.
8. Is it necessary to open an account at your company?
No need. The cryptocurrency will directly transfer to your crypto wallet or crypto exchanges, they are NOT kept at our company.