FAQ
Written by: Nexchange support team
Last modified: Thu, 12th Jan, 2017

Q:

What is Bitcoin?

A:

Bitcoin is a decentralised way moving value (or 'money') between 2 parties.
It allows you to pay friends and family or business associates across the world, and get the payment confirmed in a timeframe which is usually well under 30 minutes.
With Bitcoin you can purchase goods and services world-wide, quickly, and without paying any unnecessary and annoying fees.
For more info, please refer to the official web-site of the Bitcoin foundation.

Q:

Which companies accept bitcoin?

A:

Over the last few years bitcoin became a more and more common phenomenal.
Below there is a limited list of large retailers, vendors and travel companies that accept Bitcoin as a payment method.
However, there are many more:

Q:

What other crypto-currencies, aside can you exchange in the fast regime?

A:

Aside from Bitcoin (BTC), we also support Litecoin (LTC) which features a lighter blockchain,
with faster confirmation times (several minutes at most) and Ethereum Ethers (ETH) which features not only a lighter blockchain but also the ability to establish smart contracts using it ecosystem which are evaluated in ETH tokens.
For more information about each currency, please refer to their project websites.

Q:

When would I get my bitcoins (or other kind of coins) after payment?

A:

Once payment is confirmed, we release the coins automatically from a background process in one of our backend servers, which are behind a VPN, and are not exposed to the external internet.
The actual time of the first confirmation depends on the kind of crypto-currency you have purchased/exchanged (from several seconds for LTC to minutes for BTC).
The time at which your funds will be available at your wallet,
depend on the deposit policy of your vendor (from 2 confirmations for Poloniex.com to 6 confirmations for Kraken.com and blockchain.info).

Q:

When would I get my payment after sending coins?

A:

We use automated mass-payments which are issued immediately.
The actual time of settlement depends on your bank or e-wallet vendor.
We do not hold balances on behalf of our users and generally process every withdrawal automatically and immidiately after receiving a confirmed order.
You deposit address is unique and it is generally possible to to set-up an auto-exchange of any coins coming into your deposit addresses to your default withdraw address.