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Need help with Bitcoin?

REAL-TIME CONSULTATIONS ON BITCOIN:
HOW TO CREATE A BITCOIN WALLET, HOW TO WORK WITH IT AND OTHER QUESTIONS ABOUT BITCOIN.
IS ANYTHING UNCLEAR? CLICK RIGHT NOW!

Bitcoin Consultants:

ekaterina.endoume 1 1
mariia_france 1 1

 


 

What is Bitcoin and how to participate in MMM using bitcoins?

It's more profitable, faster, and safer to provide help using bitcoins rather than traditional currencies.

Watch the video about Bitcoin's key advantages and find out why it's beneficial to use it while participating in MMM.

 

 

Bitcoin-BONUS

If you transfer money (provide help) via the Bitcoin (not a bank), you will receive a 3% bonus of the transferred amount.

Bitcoin Bonus is not frozen. It is available for withdrawal as soon as the recipient confirms the receipt of funds.

 


 

Bitcoin advantages

Bitcoin is an international electronic currency. This is a new form of money created on the basis of the program code.

Bitcoin is not owned by any state, companies or individuals.

Due to this, Bitcoin has become the world's first decentralized means of payment. Money transfers are made on the peer-to-peer principle — without intermediaries between the sender and the recipient.

Bitcoin advantages:

1. High safety level

No one can block a Bitcoin wallet. Bitcoin does not depend on central banks, local and international laws, religion and other things.

Banks and the government do not control your bitcoins — they are only available to you. The wallet is created anonymously. Cryptocurrency cannot be faked, and payments cannot be cancelled.

2. Cheap transactions anywhere in the world

Transfer fees do not depend on the amount or location. They make up less than US$1 (regardless of the amount). You can transfer money to anyone from anywhere in the world.

3. Convenience

Unlike bank transactions, bitcoin transactions may be carried out on a 24/7 basis. You can decide independently when to transfer money.

4. Instant transfers

Bank transfers take 3–5 working days on average. The speed of transfers via Bitcoin is a few seconds, or, when you are dealing with large amounts of money, — 10–60 minutes.

5. Protection against inflation

National currencies depreciate annually by 1–20 % (sometimes more). Bitcoin is backed by a limited number of units (21 million) and protected against inflation.

Cryptocurrency is becoming more and more popular, since people do not spend money on fees and instantly exchange money. In the future, the world national currencies will be merged in a single digital Bitcoin currency! MMM and Bitcoin have a similar vision: they strive to overthrow social inequality, free people from the banks’ oppression and make the world a more just place.


 

What is bitcoin?

 


 

CONTENTS

  • Cryptocurrencies in real life
  • How does bitcoin work?
  • Who created bitcoin?
  • Who prints bitcoins?
  • ​ What is bitcoin's backing?
  • ​ Decentralization and availability
  • ​ Anonymous payment opportunities
  • ​ Complete payment transparency
  • ​ Near-zero fees
  • ​ Speed of transfer
  • ​ Irrevocable transactions
  • ​ No network control
  • ​ Unequalled security
  • ​ Network support award
  • ​ Ease of use
  • ​ Free choice of participation level
  • ​ As a new user, you can start using bitcoin even if you don't know all technical details.
  • ​ Just a few words about politics

 

Bitcoin is a decentralized digital currency created and operating in the Internet only. No one controls it; the currency is issued through operation of millions of PC's all around the world using a math algorithm calculation software. This is exactly what bitcoin is about.

What is bitcoin?

The word “Bitcoin” in the English language has been formed by joining “bit” (minimum data unit) and “coin” (a metal coin used as money). The most widespread abbreviation of Bitcoin — BTC — is usually used in exchange trading and financial articles.

This is the first and the most well-known cryptocurrency of all, a symbol and flagship of the cryptocurrency world, and a currency unit of the same name that circulates within the system.

Cryptocurrencies in real life

In the English language, cryptocurrency is a virtual currency protected by cryptographic methods. Cryptocurrency is, above all, a fast and reliable system of payment and cash transfers based on the most advanced technologies and independent of any government.

Initially, bitcoin was only relevant for mathematicians, cryptographers and people passionate about computer and network technologies. Bitcoin was then just a proof of the ability of electronic money to exist with no guaranteed backing. It could rather be seen as an electronic equivalent of gold — just like gold, bitcoin is hard to mine, its amount is limited, and mining it requires more and more effort over time. In the fall of 2009, BTC 1 could already be bought for 0.8 cents. It was the start of exchange trading that has seen many ups and downs, high-profile bankruptcies and successful projects. Bitcoin transactions were initially rare and infrequent. The first and most famous transaction involved buying two pizzas for BTC 10,000 — it happened in May 2010 (it equaled $ 25 at the time). Since then the exchange rate has gone over $ 1,000 and back down to $ 150, but that's another story to tell…

 

 

Bitcoin exchange rate chart

At the early stage of Bitcoin development, it was made popular by the Japanese exchange, MtGox, and the illegal online market, Silk Road. Now, Bitcoin is independent of any exchange or pool, while illegal activities with cryptocurrencies are now dealt with by law enforcement, just like any other financial crime.

Today, Bitcoin is a modern digital currency that is ideal for payments on the Internet. More and more stores accept Bitcoin as one of payment options. Ease and convenience of bitcoin account creation attract more and more people from emerging economies to this currency. In many states of Asia and Africa, the Bitcoin network is a replacement for expensive and hard-to-access banking services. Developed countries actively use POS terminals for bitcoin payments in stores, ATM's for cryptocurrencies, hardware wallets for Bitcoin. There's been a real boom of startups that use Bitcoin. As it turns out, the block chain technology is also good for distributed storage of data on various assets, not only financial transactions. Several thousand other cryptocurrencies have been created, based on Bitcoin or from scratch.

More interesting videos about Bitcoin:
https://www.youtube.com/watch?v=2QLYkkSLUu0
https://www.youtube.com/watch?v=gKGgrvTZ80Y

How does bitcoin work?

Read on to learn how cryptocurrency, with Bitcoin as an example, works.

What is the most important feature of Bitcoin in economic terms? It's a digital commodity of limited supply; its algorithm is specifically designed to only allow 21 mln units max in the system, each of them also known as a bitcoin. The issue timetable is defined in the code and predefined. After the last coins have been generated, the number of units stop changing. The Bitcoin economy is based on a deflation model that raises fear among many economists. However, these fears have no practical basis.

In reality, this relatively small number of coins is quite sufficient for everyday payments as 1 bitcoin is divided into 100,000,000 units, or “satoshis”, named after the system's founder. Sometimes, millibitcoin (mBTC, one thousandth) and microbitcoin (uBTC, one millionth) are also used.

 

 

Bitcoin issue timetable

You can also use bitcoin to buy anything online, just like you do with dollars, euros or rubles, and bitcoin is traded in the exchange market like these currencies. But the most important difference between bitcoin and all other forms of money is the decentralization. Bitcoin is beyond control of any authority in the world. Some are baffled by this fact as it means that no bank can control your money.

Who created bitcoin?

Bitcoin started from a concept — a document published on 31 October 2008 by a mysterious person going under a nickname of Satoshi Nakamoto. Despite numerous journalistic investigations, no one knows who the real developer of bitcoin is or whether it's a person or a group of people. On 3 January 2009, this concept was implemented in code in real life. 06:45 PM GMT, 03 January 2009 is the moment the first block in the system — the so-called genesis block — was generated. This day is celebrated as the Bitcoin birthday by the community all over the world.

The developer of the software who named himself Satoshi Nakamoto proposed an electronic payment system based on mathematical calculations. The idea is exchanging coin with no central authority in place, electronically, more or less instantaneously, at minimum cost.

Who prints bitcoins?

NO ONE. This currency is not printed by a central bank and does not follow the rules. Banks may print any amount of money to cover a state debt, thus depreciating their own currency.

In contrast, bitcoins can only be issued digitally, and anyone can start producing or, as they say, mining bitcoins at any time. Bitcoin mining is performed by using computational capabilities of a computer in a distributed network. When bitcoins are transferred, the transaction is processed in the same network, thus turning bitcoin into an independent digital payment system.

 

 

Bitcoin mining complexity chart

Can a billion bitcoins be mined?

No. The Bitcoin code contains a limit that set the maximum number of mined bitcoins at 21 million. However, bitcoin can be endlessly divided into smaller units — it's a digital currency after all! 1 satoshi is BTC 0.00000001 (name after the system founder)

What is bitcoin's backing?

National currencies used to be backed by gold or silver; now they are backed by GDP. Theoretically, you could walk into any bank in your country and exchange your paper money for its gold equivalent, or vice versa. Bitcoin is not backed by anything; it's pure mathematics.

Any person from anywhere on the globe may run the bitcoin mining script from their computer and feel like a central bank in miniature. The source code of the script is openly published, and anyone may see how it works.

Differences between bitcoins and conventional electronic currencies

Below is a list of features that make bitcoin stand out among electronic and paper currencies:

  • Decentralization and availability
    The Bitcoin network is a combination of all client programs (wallets) and a distributed database, or block chain that is stored on each computer with a full client installed. The block chain is a fully open register of all transactions in the system. Anyone may connect to this register via their personal wallet or a web-interface of special monitoring services from anywhere in the world, with no passwords or any other authorization requirements. There is no central body that would control the network which is distributed among all members, with each computer mining bitcoins being a part of the system. It means that no central body is in a position to dictate rules to bitcoin owners as happened, for instance, in early 2013 in Cyprus. Even if a part of the system goes offline, the payment system will remain sustainable.
  • Anonymous payment opportunities
    Bitcoin is a convenient and optionally anonymous method of payment where an address (account number in the system) is not related to its owner and requires no ID to be created. It's a string of about 34 Latin alpha-numeric characters long in various registers. For instance, an address might look as follows: 1BQ9qza7fn9snSCyJQB3ZcN46biBtkt4ee. It may be converted into a QR-code or any other 2D code to facilitate payment, or it may be transferred in its initial form. Yes, that's right. It's totally anonymous and absolutely transparent at the same time. You can create an infinite number of bitcoin addresses with no reference to your name, address or any other data.
  • Complete payment transparency
    The history of any payment may (theoretically) be traced down to the moment of coin generation, and this payment will never be removed from the database. Knowing a Bitcoin address only, you may view all transactions accepted by this address or submitted from it at any time. The Bitcoin network stores the entire history of transactions that have ever taken place; it's called a series of blocks or block chain. A block chain is a public shared register that represents a basis of the entire Bitcoin network. All confirmed transactions are included in the block chain. Based on this information, bitcoin wallets may calculate your balance and verify that bitcoin owners actually spend bitcoins in new transactions. The integrity and chronological sequence of a block chain are based on secure cryptography. The block chain knows it all. Therefore, if you have a publicly used bitcoin address, anyone may see how many bitcoins you own; however, if you do not specify it's your address, no one will ever know it belongs to you. To ensure complete anonymity, one Bitcoin address is generally used for a single transaction.
  • Near-zero fees. Your bank may charge you a $ 50 fee for an international funds transfer in cold blood. Bitcoin will never do that. There are small fees that are totally insignificant and do not depend on the transfer amount.
  • Speed of transfer
    You can transfer money to anyone anywhere; it will be delivered in a matter of minutes after the Bitcoin network processes the payment.
  • Irrevocable transactions
    After bitcoin is transferred to the recipient, it's impossible to get it back. Unless the recipient is willing to do it themselves.
  • No network control
    Since a block chain is a distributed database based on peers, the Bitcoin network has no controlling central body that can suspend an account, change the amount of currency units in the system, lock or cancel a payment. Transactions within the system are irrevocable, just like transactions with cash
  • Unequalled security
    Each new block adds to the requirements to computational capabilities miners need to calculate the block chain from zero; the longer the chain, the harder it is to hack the network. Today, Bitcoin is a decentralized computational network that has a performance 8 times higher (in terms of SHA-256 hash calculation rate) than the total performance if all super-computers in the world. To capture control over it, even partially, vast resources and hundred-million-dollar expenses are required.
  • Network support award
    New bitcoins are issued as an award for those who perform computation providing for transaction transfer. Computation has been dubbed mining, from the English word “mining” meaning extraction of minerals. Those who engage in computation activities are called miners. Their task is writing all transactions that took place from the moment the last block was issued (10 minutes on average) into a single block and “seal” it with a complex cryptographic signature. The next block is calculated based on the signature of the preceding block that ensures irrevocability of transactions and prevents counterfeit currency units from getting into the system. This way, the blocks are connected together, forming a block chain. These rules prevent making changes to the previous block as this would invalidate all subsequent blocks. Additionally, mining creates a lottery-like process where no user can simply add blocks into the chain. Thus, no one can control the block chain or replace its parts to roll back their transactions.
  • Ease of use
    You would have to go through seven levels of hell to open an account for a company in a bank; you might also be banished with no explanation. It's not a problem in the Bitcoin network — you'll need 5 minutes to create a bitcoin wallet and start using it. No questions, no fees.
  • Free choice of participation level
    You can install an official Bitcoin Core client that stores the entire history of transactions. If you do not need offline operation and block chain analysis features, you can install one of the lite or mobile wallets that require a lot less resources. If you only intend to pay for small purchases while travelling or to just try out the technology, a mobile or online wallet would be enough. Maximum safety is ensured by hardware wallets with additional protection.

As a new user, you can start using bitcoin even if you don't know all technical details. As soon as you install a bitcoin wallet on your computer or mobile phone, it will generate your first bitcoin address; in the future you will be able to create as many addresses as you want. You can communicate your addresses to your friends who will be able to make payments to you or vice versa. In reality, it's very much like e-mail, except that a bitcoin address must only be used once.

A transaction is a transfer of funds between bitcoin wallets to be included in a block chain. Bitcoin wallets contain confidential information, the so-called secret code, that is used to sign transactions and provide a mathematical proof of the transaction having been approved by the wallet owner. This signature also prevents making changes to the transaction after it is submitted to the network. All transactions are broadcast to all users and confirmed by the network via mining, generally within 10 minutes.

Different states have very different attitudes towards cryptocurrencies. Some clearly encourage their use — in Australia, Germany, the Netherlands, New Zealand, Singapore, some US state, various offshore countries; others impose serious constraints that could be transformed into a total ban — in Indonesia, China, Russia, Ukraine. Total bans have so far been imposed by the hot Latin Americans in Bolivia and Ecuador.

Many governments have chosen to monitor the situation with careful optimism — most countries of the European Union, Great Britain and Switzerland, the US federal government, Canada, Japan and countries of South and East Asia. Most developed countries are adapting their financial legislation to be able to regulate cryptocurrencies and are about to resolve this issue.

 


 

Legality of Bitcoin

 


 

Bitcoins are legal if used for legal purposes. If you do not commit unlawful acts, your operations with Bitcoins cannot be suspicious.

The unique nature of Bitcoin does not allow the law to consider it as money. Also Bitcoin cannot be deemed as a product or service. The question of the legal regulation is still in its infancy, and governments of different countries look at each other carefully, hoping that one of them will prompt how, eventually, to treat the cryptocurrency.

As a whole, in relation to Bitcoin the countries can be divided into 3 camps:

  1. The countries which understand that Bitcoin is a new and perspective technology which can bring many positive things.
  2. The countries which have no common ground, and they have been studying Bitcoin so far -- without accepting it officially, or rejecting it.
  3. Totalitarian states which are, literally, afraid of Bitcoin, as they got used to exercise full control over whole financial flow of funds.

Thus there is a question: can Bitcoin be prohibited or closed down?

Theoretically, such conditions can be created in which it will be very ifficult to use it, however, in real life it is practically impossible. Bitcoin is not owned by anybody, that is why there is no one to put pressure on that Bitcoin be closed down. Each user is a full-fledged part of a network, while there are millions of such users, and all of them are from different countries.

The only leverage on Bitcoin are exchange markets that convert fiat money to the cryptocurrency. In theory the government can deny banks to deal with such exchanges, but in practice there are many ways to circumvent the bun.

 


 

If you're new to Bitcoins you can find out how to create a Bitcoin account and how to buy and sell Bitcoins from this handy guide.

 


 

  1. How to create a Bitcoin wallet?
  2. How to Provide Help with Bitcoin?
  3. How to give your Bitcoin wallet number to another party?
  4. How to Get Help (“sell” Mavro)?
  5. How to check if transaction was successful?
  6. How to create a bitcoin wallet at www.kraken.com.
  7. How to buy bitcoins on Kraken?
  8. How to add funds to your bitcoin account on kraken?
  9. How to find your bitcoin wallet address on kraken?
  10. How to sell bitcoins on kraken?
  11. How to send bitcoins to receiver on kraken?
  12. How to cash out funds on kraken?
  13. How to secure your bitcoin wallet on kraken?
  14. How to recover password on kraken?
  15. How to create a Bitcoin wallet on coinbase.com?
  16. How to buy bitcoins on coinbase.com?
  17. How to add funds to your bitcoin account on coinbase.com?
  18. How to find your bitcoin wallet address on coinbase.com?
  19. How to sell bitcoins on coinbase.com?
  20. How to send bitcoins to receiver on coinbase?
  21. How to cash out funds on coinbase?
  22. How to secure your bitcoin wallet on coinbase?
  23. How to recover password on coinbase?
  24. QUESTIONS-ANSWERS

 


 

How to create a Bitcoin wallet?

 


 

 

1. Log in to the MMM Personal Office https://mmmpo.comPress the Accounts button.

 


 

 

2. Press the Add button.

 


 

 

3. Add an account:

  • Write the name of your wallet. You are free to choose any name you like, e.g., My BTC
  • Specify BIC. As we have a Bitcoin wallet, we will write: BTC
  • Indicate the account number. In our case it is a Bitcoin address.
  • Press the Save button.

 


 

 

Click ОК.

 


 

 

Ready!
The account is added.

 


 

How to Provide Help with Bitcoin?

 


 

 

You can “buy” Mavro by Providing Help (transferring money) to another participant:

  1. Click "Provide Help" on the dashboard in your Personal Office.
  2. Read WARNING about risks related to the participation in the system.
  3. Tick the box.
  4. Click on "Next" button.

 

 

  1. Choose a way to transfer funds:
    1. Bitcoin network (via BTC)
    2. Local bank institution (via Naira)
  2. Click on "Next" button.

 

 

  1. Enter an amount you want to contribute.
  2. Click on "Select" button.

 

 

  1. Enter amount for each type of “deposits” (if applicable).
  2. Check the box if you want to get a registration bonus. (Available only if it is your first request for Providing Help)
  3. Click on "Next" button.

 

 

In the appeared window carefully check all details of your request.

  1. Enter characters from the image.
  2. Click on “Next” button.

 

After successful completion of all steps above, you will see a notification that your request has been added. Click on “Ok”


 

  1. The created request will be in queue to be processed by a dispatcher (automatic program).
  2. In a short time there will be an Order appearing on your dashboard that you need to complete (to transfer your funds). You may receive one order or several orders for amount of your request for “Providing Help”. If you choose Bitcoins (not option “Other Bank”), you must transfer the exact amount in Bitcoins (not the amount in NGN).

 

Each order includes the following information:

  1. Period of time remained to complete transfer.
  2. Transfer amount.

 

When you press the area of the Order (or on “Details” in the lower right corner of it) you will see:

  1. Transfer amount.
  2. Details of a recipient's account for transfer
  3. Recipient's phone number to contact in case of difficulties with transfer. Your contact number as Sender.
  4. If you chose Bitcoins in your request, in your Order you will find instructions how to transfer Bitcoins.

 

You should make every transfers on time. In case of difficulties with a transfer, a recipient and a sender can get in touch with each other via chat (if a phone of one of the participants is not available for some reasons).

  1. Press “Messages” in the upper right corner of an Order.
  2. In the opened window type your message.
  3. Your can add a file if necessary.
  4. Click on “Send”.

 

After you have transferred money, you must show a recipient that the transfer was completed. He will be able to confirm receiving of your funds after you send a transfer evidence.

How to send an evidence of transfer:

  1. Click on the blue button with the triangle inside.
  2. Click on link “I completed this payment”

 

n the appeared menu, you should attach a screenshot or photo of completed payment transaction.

You can make a screenshot:

— with PrtScr button (next to F12 button of your keyboard). Press PrtScr. After that an image of your screen will be sent to the clipboard. Open the program for processing images (the simplest one is Paint). Select “Paste” in the program menu or Ctrl+V. Save the image on your computer.

— with a specialized software (LightShot etc.)

  1. Click on the button "Browse File" to attach a photo or a screenshot.
  2. Write a comment if you want.

 

 

After that Order’s icon become half green.

Once your recipient confirmed the receiving of funds, the icon will become fully green. And your Mavros will become confirmed.


 

 

Cliquez “Suivant”


 

 

If the transfer has not been made timely, or you refused to do a transfer without a valuable reason, your account will be blockedautomatically. You will be notified about it in Personal Office.

In blocked mode the only available operation in Personal Office is contact to the Support Team.


 

 

After creation of a Request for Providing Help, check your Personal Office and email daily. So you will be aware about new orders for transfer and could prevent your account blocking for any possible reason.

For example. If you can not complete an order for any circumstances, make sure to write your reason to the Support Team:

  1. Click on blue button.
  2. Click on “I refuse to make money transfer”.

If the transfer has not been made timely, or you refused to do a transfer without a valuable reason, your account will be blockedautomatically. You will be notified about it in Personal Office.


 

How to give your Bitcoin wallet number to another party?

 


 

If you need to provide your Bitcoin address to another user, you should first access your Bitcoin wallet and click on the button “Receive”.

 


 

You will see the window with your Bitcoin wallet address. Copy this address.


 

Enter your MMM Personal Office and click on “Accounts”.


 

Then, click on “Add” button


 

Fill in your account data and paste your Bitcoin wallet address in the respective field. Now, another participant who wants to transfer money to you will see your Bitcoin address. When creating Help request, you can click on the order, access the section “Messages” and send your Bitcoin address there as well.


 

How to Get Help (“sell” Mavro)?

 


 

In order to Get Help (“sell” Mavro) click on the appropriate button ("Get Help") on the dashboard of your Personal Office.


  1. Select already registered account to Get Help (if you want to add a new one better use Accounts menu).
  2. Click on "Next" button.

Choose one of your existing accounts and click on "Next" button.


In the opened window you can see:

  1. maximum amount of Mavros available to withdraw.
  2. a leftover, as withdraw amount has to be multiple 100.
  3. total amount for current withdraw.

Take follow steps:

  1. Click on “all” to withdraw maximum amount of specific mavro-account.
  2. Enter any amount less than maximum amount of specific mavro-account.
  3. Click on “Next” button.

Check your amount for withdraw and click on "Next".


Created Request for Receiving Help appears on your desktop in Personal Office.


If you click on active Getting Help Request, a popup window will open where you can verify details once again. In the Getting Help Request you can also see the amount of Mavro for sell.


After creating your Getting Help Request you should wait for orders to be displayed on your dashboard. You will be able to see information about participant(s) who will transfer funds.


Appeared orders on your Dashboard will be of yellow color. After a sender confirmed that funds had been transferred, make sure to check your account. You should confirm a receipt of funds  only when you see them in your account. 

When a sender confirmed sending funds but you did nothing with an order, after some time the order’s icon will become yellow with a question mark.

When you click on this icon there will be two options.:

  1. confirm the receipt of funds
  2. inform that the funds are not received.

If the funds are not received, after an investigation of Security Department this icon will become red with a cross.

It means that the order wasn’t completed. Such icon will appear if a sender didn’t confirm timely that the funds were sent.

In case of described situations the dispatcher will create another order for you with another participant to send his help to you.


Confirm orders only after making sure that the funds were received on your bank account or bitcoin wallet!

If funds are received and you confirmed receipt of funds, then this icon will turn green. It means that help has been successfully provided!


Keep in mind that you can extend the period of payment for 24 hours, if necessary. If a sender is not able to meet a standard requirement for 48 hours, you can give him additional time to complete this order. In order to do that:

  1. Сlick on the icon.
  2. Click on 24 hours extension.

Always report to the Support Team if you notice any unusual activity. FAQ: How to get in touch with the Support Team?

 


 

How to check if transaction was successful?

 


 

Step 1: look at an order status in your Personal Office. After a participant receives funds, he will confirm the transaction.

 


 

Step 2: Bitcoin transactions will appear almost immediately in your transaction history.
As soon as the transaction is completed, you will see “Unconfirmed transaction” in your transaction history, which means your transaction has not been confirmed yet.

 


 

Although Bitcoins were sent, your transaction has not yet been processed and can be cancelled.

Your transaction is considered completed when it has got 3 confirmations. It usually takes about 30 minutes, but the period length may change. Your transaction, till then, will have been displayed as pending (Unconfirmed transaction).

30 minutes is the average time to get confirmation. Generally, getting confirmed may take more or less than half an hour.

Confirmation is a form of reaching agreement about who and how many Bitcoins possesses.

As soon as confirmation is available, everyone agrees that you fully own now the Bitcoins you received, and they are at your disposal.

Until the moment your transaction gets confirmed, some network hosts check if the system is not deceived in any way. The more confirmations you receive the less the chance of its cancellation.

Only 6 confirmations or 1 hour (if based on time) will suffice to make the transaction cancellation almost impossible.

It is considerably better than using credit cards where the return of funds can be carried out even 3 months after the transfer!

 


 

How to check your transactions?

 

1. Follow the link:
https://korbit.info/wallet/#/login

2. Enter your login and password

 


 

 

3. Click on “TRANSACTIONS”

 


 

 

4. Choose the transaction and click
If the transaction is not confirmed, there will be written “Pending: 0/3 confirmations”

 


 

 

If the transaction is confirmed, you will see “Transaction Confirmed”

As soon as the transaction is confirmed, you can use the Bitcoins you received at your discretion.


 

How does Bitcoin transaction work?

 


 

Bitcoin system’s transactions are conducted between wallets which have digital signature. Each online transaction is public, and every participant may not only view its sender’s and recipient’s data in a public block chain, but also to trace the whole history of transactions, which were made prior to it — down to the inception of the first cryptocurrency.

In order to understand what a transaction is, have a look at the example below.

Diego sends Marco some Bitcoins. This activity is a transaction itself which will contain three types of data:

  • Input — a signature evidencing which address Bitcoins came to Diego from (let’s assume he has received them from Pedro);
  • Amount — the number of Bitcoins which Duiego sends Marco;
  • Output — Marco’s Bitcoin address.

To send anyone Bitcoins, you need two things: a Bitcoin address and a privacy key. The privacy key is a sequence of letters and digits, but unlike your Bitcoin address it is kept secret.

Your Bitcoin address is like a transparent deposit box. Anyone can look inside, see what there is, however, only that can open and take the content who has a privacy key.

Getting back to Diego and Marco, when Diego wants to send some digital coins to Marco, then, using the privacy key, he signs a transfer “request” where, as indicated above, three types of data are provided: the Bitcoin address, from which Bitcoins came to Diego, the amount and recipient’s address.

After that, he sends this “request” from his Bitcoin wallet to the Bitcoin network, where it is found by miners who then confirm a new online transaction by adding it into the transaction block, which, eventually, leads to increasing the balance of Marco’s Bitcoin address.

 


 

How to create a bitcoin wallet at www.kraken.com.

 


 

 

To create a wallet, you need to sign up at www.kraken.com.

 


 

 

In the registration form enter your email, username and password. Put a tick confirming that you are not a robot and click “Sign Up”.
Please note that the password must consist of eight characters (numbers and letters) and one special character, for example €.
(Password must be at least 8 characters in length and contain letters, numbers, and special characters.)

 


 

 

Activate your account.

 


 

 

Then check your email specified at registration for the activation letter.

 


 

 

You can activate your account in two ways:

1. Go to the activation link.

 


 

 

2. Copy an activation key from the letter and paste it into the activation window on the exchange website.

 


 

 


 

 

Then you need to re-enter the password to confirm that you are not a robot and click “Activate account”.

 


 

 

Then you need to get verified.

 


 

 

There are several steps of verification.
Step 1. Fill in all fields marked with *. The data must match your passport data.

 


 

 

After sending the data, follow the second step of verification.

 


 

 

Step 2. You also need to complete all the fields marked with *.

 


 

 


 

 

After completing two steps of verifications you will be able to buy Bitcoin

Next, you need to wait the entered data to be verified.

 


 

 

After verification completion, you can create a new Bitcoin wallet.
To do this, click on the tab “Funding” and choose “Bitcoin”.

 


 

 

Then click “Generate New Address”.

 


 

 


 

How to buy bitcoins on Kraken?

 


 

 

To buy Bitcoin, click “New Order” in the tab “Trade”.

 


 

 

Then enter the amount of bitcoin that you want to purchase and click “Buy”.

 


 

 

Then submit your order.

 


 

How to add funds to your bitcoin account on kraken?

 


 

 

After verification, you can deposit your account. To do this, go to the tab “Funding” and select the currency which you will use to buy bitcoins.


 

 

After the currency is selected, you will be offered several deposit methods; select the most convenient one.


 

 

Then you will see the details for funds transfer. Don't forget to include the reference code when submitting the transfer.


 

How to find your bitcoin wallet address on kraken?

 


 

 

In order to know the number of the bitcoin wallet, you need to go to the tab “Funding” and select “Bitcoin”.

 


 

 

Then you will see a list of all your bitcoin wallets.

 


 

How to sell bitcoins on kraken?

 


 

 

To sell Bitcoin, in the “Trade” tab click “New Order”.

 


 

 

Choose “Sell”.

 


 

 

Enter the amount of Bitcoins you want to sell and click “Sell”.

 


 

How to send bitcoins to receiver on kraken?

 


 

 

To send Bitcoin, in the tab "Funding" press the "Withdraw" button.

 


 

 

Then choose “Bitcoin” from the list.

 


 


 

 

Click “Add address”.

 


 

 

Enter the name of the new address, Bitcoin withdrawal address and click “Save address”.

 


 

 

Address has been saved successfully.

 


 

How to cash out funds on kraken?

 


 

 

To withdraw money, go to the tab "Funding".

 


 

 

Then click "Withdraw".

 


 

 

Choose a withdrawal method.

 


 

 

Select “Euro” and click “Add account”.

 


 

 

Enter all the required details and click “Save”.

 


 

Then withdraw funds using to your bank account.

 


 

How to secure your bitcoin wallet on kraken?

 


 

 

In order to secure your account on the bitcoin exchange, it is recommended to use a two-factor authentication.

You can set it up in the tab "Security".

 


 

 


 

 

It is especially important to use two-factor authentication when you login and send money. Let's review both methods of protection.

For the security settings for login, you need to click setup in the corresponding row

 


 

 

As method of recovery choose Password, enter the password and click Continue.

 


 

 

Re-enter the password and press Confirm

 


 

 

Two-factor authentication at login is successfully installed. Let's proceed to install protection on withdrawal and transfer of bitcoins.

 


 

 

To install the protection on the withdrawal and transfer of bitcoins, you need to click setup in the corresponding row.

 


 

 

As method of recovery choose Password, enter the password and click Continue.

 


 

 

Re-enter the password and press Confirm.

 


 

 

Two-factor authentication for withdrawal and transfer of bitcoins is successfully installed.

 


 

How to recover password on kraken?

 


 

 

To restore the account password, you must bind a valid email. This can be done in the tab “Settings”.

 


 

 

In case you forgot later the password, you can recover it.

To do so on the login page you need to click Forgot Password?

 


 

 

In the opened fields you need to enter the email address used during registration and your login. Next, click Reset password

 


 

 

The password will be reset and an email sent with a link to set a new password.

 


 

 

Go to your email and click the link in the email

 


 

 

Opens the window for activation of a new password. It is necessary to enter login and the new password two times. Further, if necessary, confirm that you are not a robot by entering the captcha.

 


 

 

New password is successfully set!

 


 

How to create a Bitcoin wallet on Coinbase.com?

 


 

 


 

 

Go to https://www.coinbase.com/ and click on Sign Up

 


 

 

Fill in your “First Name”, “Last Name” and “Email”. Create a secure Password, (minimum 10 characters long). Don't Forget Your Password, Write it down and keep it in a secure place or use a password manager (for example, free KeePass software or free LastPass)! WARNING: Forgotten passwords are UNRECOVERABLE and will results in LOSS of ALL of your bitcoins!

Click on “CREATE ACCOUNT”

 


 

 

Verify your email.

 


 

 

Once you confirm your Email you are already logged into Coinbase.

You will need to verify/change the Currency to USD and to BTC. Click on Settings.

 


 

 

And then Click on Preferences.

 


 

 

Change the “Local currency” to “United States Dollar (USD)”.
Change the “Time zone” to your location and Select “Bitcoin units” to BTC. Click on “Save”.

 


 

 

Click on the Security tab.

 


 

 

Click on “Verify A Phone”

 


 

 

On “Choose a country” drop down menu and select the country where your phone number is associated with. Put “Your phone number” in the space provided and click “Next”.

 


 

 

Receive your code on the phone, enter the verification number and click on “Verify Phone Number”


 


 

How to buy bitcoins on coinbase.com?

 


 

 

To buy Bitcoins, go to the Buy/Sell tab, click “Buy” button, choose the currency you want to buy (we are choosing Bitcoin). Enter the amount and click Buy Bitcoin

 


 

How to add funds to your bitcoin account on coinbase.com?

 


 

 

To deposit your account, you need to know your Bitcoin address. Go to the Accounts tab.

 


 

 

On “accounts” page you will see all available wallets. Select BTC wallet and click Get bitcoin address.

 


 

 

There will appear the window with your Bitcoin address.

 


 

Copy the address and use it for sending funds to your Bitcoin wallet. You can send money to your account from any exchange service, trading platform or Personal Office in МММ.

 


 


 

How to find your bitcoin wallet address on coinbase.com?

 


 

 

Upon registration, go to Accounts tab.

 


 

 

On “Accounts” page you will see your wallets. Choose BTC wallet and click Get bitcoin address

 


 

 

There will appear the window with your Bitcoin address.

 


 

How to sell bitcoins on coinbase.com?

 


 


 

 

To sell Bitcoins, go to the Buy/Sell tab, click Sell,select the currency you want to sell (we are choosing Bitcoin). Enter the amount and click Sell Bitcoin.

 


 

How to send bitcoins to receiver on coinbase?

 


 


 

 

Go to https://www.coinbase.com/and click on “Sign In”

 


 

 

Click on “Send/Request”

 


 

 

Make sure you are on the “Send” tab. Fill in the Bitcoin address of the recipient, the amount of Bitcoins you are sending (use BTC units) and write a message identifying the transaction from MMM Global PO (This makes it easier to identify past transactions). Then click “Send Funds”.

 


 

 

Next you will need to enter your code and click “Confirm”.

 


 

 


 

How to cash out funds on coinbase?

 


 

 

To buy Bitcoins, go to the Buy/Sell tab, click “Sell” button, choose the currency you want to buy (we are choosing Bitcoin). Enter the amount and click Sell Bitcoin

 


 

How to secure your bitcoin wallet on coinbase?

 


 


 

 

Upon registration go to the Settings tab.


 

 

Press on Security.


 

 

To secure your account, it is strongly recommended to use a two-step verification.


 


 

 

Enter your phone number and click Next.


 

 

Then you will get an SMS with your verification code; enter the code in the field and click “Verify Phone Number”


 

 

Phone number verification has been successful!


 

 

If you want you can increase the security of your account with the Android app “Authy”, or “Google Authenticator”


 

How to recover password on coinbase?

 


 


 

 

To recover your password, click “Forgot password?”


 

 

Then enter the email you specified when registered and click “Reset Password”


 

 

Then follow the “Reset Your Password” link you will get by email.


 

 

You will go to “Reset Password” window. Enter your new password twice and click “Update password?”


 

 

Then you will get an SMS with the verification code. Enter the code and click “Verify”


 

QUESTIONS-ANSWERS

 

What are the advantages of providing help with Bitcoins?

  1. Security
  2. Speed
  3. Safety
  4. Payment tracks and verification
  5. Low fees

Why does the MMM system advocate Bitcoin?

We have similar ideology — both Bitcoin cryptocurrency and the MMM Community create a fair financial system that everyone could live happily. Cryptocurrency can be used in any country of the world. Whereas difficulties in its using are rather psychological than technical. Having set up a Bitcoin wallet and having conducted only one transaction, you will understand that it is: easy, safe, secure, profitable, and fast. These transactions become more and more popular. It will be as usual as using a favorite gadget

Who determines Bitcoin's price?

Bitcoin's price is set by the bidders in the stock market and on exchange platforms.

What is a Bitcoin address?

It is a wallet identifier in the Bitcoin system similarly to a bank account. It normally contains 27 to 34 characters and consists of random digits and Latin letters. It also can be presented in form of a QR code. The address is totally anonymous and has no data about its owner. It can be obtained on a grant basis, using, for example, software of the Bitcoin system.Example of an address: 4qViLJfdGaP4EeHnDyJbEGQusnCpmw1qW.It is possible, via such addresses, to send and receive Bitcoins as simply as emails.

Does it matter on which site was a Bitcoin wallet created?

It does not matter. There is a slight difference, and it consists in wallet security systems and convenience.

Is it be possible to perform transactions among all Bitcoin wallets created on any of suggested services?

Yes, it is.

I have two Bitcoin addresses, can they both be added to the MMM PO?

Yes, they can. You may add unrestricted number of Bitcoin addresses to your PO.

Does it matter what to specify in the “account name” of the system?

No, it does not. An account name is created for you exclusively that you may choose a relevant account when creating a GH request.

What should I do: first buy Bitcoins and then offer help or wait until a PH order comes and buy Bitcoins after that?

If you are a new member or use Mavro-BTC, we recommend you to buy Bitcoin first. I.e.before you create a PH request. But if you know already how to operate Bitcoin, you should buy it at the moment when you got a PH order created. In that case you will not be affected by price fluctuation risks.

How much is Bitcoin transaction fee?

A Bitcoin transaction fee is calculated for every single transfer. It is standard and not dependant on the payment amount, but on the block size in bytes. It usually ranges from 0,0001 btc to 0,001 btc. A Bitcoin transfer takes several seconds while transaction confirmation speed -- on average from 10 to 60 minutes. If you want to speed up confirmation of transactions, you may increase the fee on your own. Then transaction will be completed faster.

How soon will I be able to get money when I am selling Bitcoins?

Transferring funds from a Bitcoin wallet to a bank card takes from 15 minutes to 24 hours. It may also depend on the selected stock market or exchange platform, as well as on Bitcoin buyers’ reaction time.

I want to work at the Bitcoin service. Tell me what and where should I send.

We are still looking for the new Bitcoin consultants who would help the participants to solve problems, answer their questions and gave detailed recommendations concerning Bitcoin.

Requirements to candidates:

  1. Perfect knowledge in the Bitcoin cryptocurrency field. You should know how to get/provide help in MMM, add an account into the PO, create a Bitcoin wallet, exchange the cryptocurrency for traditional money, and so on.
  2. Fluent English and Spanish.
  3. Responsibility and interpersonal skills.

Are there bonuses for the first request in Bitcoins?

You get a 3% bonus for each providing help with the cryptocurrency. It makes no difference whether it is a first or hundredth one.

Is it possible to use a Bitcoin account only to withdraw Bitcoins?

Yes, it is possible to get help in the cryptocurrency to a Bitcoin wallet only.

How many digits should be there after the decimal/ full stop in Bitcoin transactions?

In a Bitcoin transaction after the decimal there can be from 1 to 8 digits.

Do I need to register another MMM account to participate using Bitcoins?

No. You don’t have to create a new account. You need to go to the “Accounts” section in your PO and add a new Bitcoin account.

Why does it take so long to get my Bitcoin transaction confirmed?

You might have set the standard (the lowest) transaction fee. That’s why it takes more time to have your transaction processed. If you want to have it confirmed sooner — increase the transaction fee. You can do it at any time.

Can I use different bitcoin addresses to provide and get help?

Yes, you can.

May I specify one Bitcoin address in different MMM accounts?

No. One Bitcoin address can be used for one account only.

What screenshot should I upload after transferring Bitcoins?

The screenshot must demonstrate the details of your transaction. Or you can specify transaction hash in the order chat — it will be enough to track your transaction. See instructions:

What Bitcoin trading platform do you recommend?

You can choose any Bitcoin platform you like, but we recommend you to use the two most popular in Spain platforms Localbitcoins.com and xapo.com. You can sign up for both of them.

What does “buy” and “sell” Bitcoin mean?

Bitcoin is a cryptocurrency. Like any other currency (yuan, dollar, euro), it can be bought and sold for other world currencies according to the current exchange rate. You can use different payment/transfer methods for this.

It is compulsory to use Bitcoin in MMM Spain, isn’t it?

Yoe, it is. MMM Spain doesn’t work with bank accounts and transfers.

How to check my Bitcoin wallet balance?

You can find your balance on the platform where you had your Bitcoin wallet created. Usually this section is called “My Funds”, “My Wallet”, “Balance” and so on.

What to do if the sender didn’t pay a Bitcoin-order?

The system will automatically match you with another sender (it will generate a new order.) The participant who didn’t complete the order, will be locked.

Can I buy Bitcoins with a credit card?

Yes, some exchanges, including Huobi and BTCC, give users this opportunity. At first you add money in your CNY account from a credit card, then you can exchange yuan for Bitcoin.

How many Bitcoin wallets can be registered on one mobile number?

A mobile number is linked to an account, not to a Bitcoin wallet. In one account you can have unlimited number of Bitcoin wallets and addresses even using one mobile number.

After registering Bitcoin wallet we continue to work in the MMM PO, don’t we?

Yes, you create PH and GH requests in the MMM Personal Office.

How do I confirm the payment?

You should provide a screenshot of the transaction details.

What is the minimum and maximum PH amount in Bitcoins?

The minimum PH amount is 5 euro; the maximum PH amount is 10,000 euro.

Can first and last names specified when registering a Bitcoin account be different from those in the MMM account?

Yes, they can. There are no formal restrictions

Is it permitted to make payments on several MMM accounts from one Bitcoin wallet?

Yes, of course!

How to deal with a problem of unexpected bitcoin exchange rate fluctuations?

Bitcoin price fluctuation has no influence on the MMM system operation.

I have provided help with Bitcoins, how soon can I create a GH request?

You may create a GH request immediately after your Mavro in the PO have become confirmed. In other words, the recipient confirmed getting help from you.