Author Topic: Frequently Asked Questions (FAQs)  (Read 328 times)

Falcon

Frequently Asked Questions (FAQs)
« on: April 01, 2018, 02:41:11 PM »
1. What are coin tournaments?
Coin tournaments are tournaments which participants pay a fee to attend in order to win more coins when they top. For example, there is a tourney with 8 participants (Each pays 2, total 16 coins). One spends 2 coins to enter and wins 8 if he comes 1st place, 5 coins if he comes 2nd. 3rd place gets his 2 coins back. And 1 coin for tournament organizer.

2. What if i have enough coins in my balance, what to do with them?
You can convert those coins to real money. If you want to receive Bitcoin or Ethereum when converting your coins, you can send me your Bitcoin or Ethereum address, so you can easily receive the payment. If you want to receive payment as USD through Paypal, you will have to contact a trader.

3. What to do with Bitcoins and Ethereums?
Bitcoin and Ethereum are cryptocurrencies. You can do things with them just like you do with USD or Euros. You can also convert them to USD in exchanges like Coinbase, Kraken, Coinmama etc.

4. What are exchange rates?
Here are the price of digital currencies. https://coinmarketcap.com/coins/views/all/
For each 50 coins you want to buy, you pay 0.005 ether. If you want to pay with bitcoins to buy 50 coins, you have to convert 0.005 ethereum to bitcoin. Currently for 01/04/2018, 0.005 ether = 0.0003 bitcoin. So you would pay 0.0003 bitcoin for 50 coins.
If you want to sell your coins, for each 70 coins you will receive 0.005 ethereum.

5. How to pay and receive money as USD?
If you are unable to use cryptocurrencies and have access to paypal only, you can pay money as USD via a trader.
To buy coins you simply contact to trader and send him required money via paypal, and he converts it to ethereum and sends it for you.
Currently, you can receive money as ethereum only. You can convert your ethereums to USD in exchanges such as Coinbase, Kraken, Coinmama etc. Traders won't provide this service for now.
« Last Edit: April 01, 2018, 06:42:09 PM by Falcon »