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Frequently asked questions!
When you begin researching the macroeconomics of the global economy and understand how fiat currency and the banking system work, you will gain a deeper understanding of Bitcoin, its origins, and why it is a revolutionary technology.
Bitcoin is a more reliable, valuable, and secure store of value than fiat currencies. It is decentralized, scarce, and transparent, and it is not controlled by any central authority.
In contrast, fiat currencies are subject to inflation and devaluation by central banks. This makes them a less reliable store of value than Bitcoin.
Bitcoin is also more secure than fiat currencies. All transactions are recorded on a public ledger, making it more difficult for fraud and corruption to occur.
Finally, Bitcoin is more private than fiat currencies. Your Bitcoin is yours, and only yours, as long as you keep your private keys safe.
Bitcoin is a decentralized currency that is more secure and private than traditional fiat currencies. It is not subject to government or financial institution control, and it can be stored in a decentralized wallet that is not connected to the internet. This makes it more difficult for governments or hackers to confiscate your Bitcoin.
Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is a decentralized network that is controlled by its users. Developers can improve the software, but they cannot force a change in the protocol. All users must agree on the rules of the network in order for Bitcoin to work correctly. This gives all users and developers a strong incentive to protect the network.
Bitcoin mining is the process of adding new blocks of transactions to the Bitcoin blockchain. Miners use computers to solve complex mathematical problems in order to create new blocks. The first miner to solve a problem is rewarded with a block reward, which is currently (2023) 6.25 bitcoins. The block reward is halved every four years, and the last Bitcoin will be mined in 2140.
Mining is a competitive process that requires powerful computers and specialized software. The profitability of mining depends on a number of factors, including the price of Bitcoin, the cost of electricity, and the difficulty of the mining problems.
A long time ago, anyone could mine bitcoins on their computer at home. Today, only specialized computer hardware is powerful enough to do this. Think about it like this: Should you buy gold or mine gold? Well, to mine gold, you need big, powerful machines, a lot of time, and money to buy the machinery. This is why most people just purchase gold online or from a broker. So Bitcoin is no different. You should just buy some if you want coins without trying to mine them.
It’s never too late to invest in Bitcoin. Bitcoin is a decentralized digital currency with a limited supply. As more businesses accept Bitcoin, its value is likely to continue to grow. This makes Bitcoin a potentially lucrative investment for those who are willing to take on the risks. Here are some of the reasons why Bitcoin is a good investment:
Scarcity: There will only ever be 21 million bitcoins created, which makes it a valuable asset.
Decentralization: Bitcoin is not controlled by any central authority, which makes it a more secure investment.
Acceptance: The number of businesses that accept Bitcoin as payment is growing rapidly, which increases the demand for Bitcoin.
Investments are important because in today’s world, earning money is not enough. You work hard for the money you earn, but it may not be enough to lead a comfortable lifestyle or fulfill your dreams and goals. To achieve your financial goals, you need to make your money work hard for you as well. This is why you invest. Money lying idle in your bank account is an opportunity lost. You should invest that money wisely to get good returns out of it.
The average stock market return is around 10% per year. However, investing in cryptocurrency is different than investing in a regular stock. The most common form of “investing” in Bitcoin is buying the currency in hopes that it will appreciate in value (also known as “hodling”). HOLD ON FOR DEAR LIFE
In the early days, if someone wanted to make a profit or extra income, they would give their money to someone else or deposit it in a website. However, there was a huge risk of being scammed or having their money stolen.
With Bitcoin, you simply buy Bitcoin from a reputable source and keep it in your wallet. Once the price of Bitcoin is high, you can cash out and receive your money in your local currency. There is no fear of theft,scam, account closing, or hacking. This is considered to be a decentralized investment and it’s the smartest, easiest way that you can make money while you sleep at this time.
Bitcoin is not a regulated investment, and there is no guarantee that you will be able to sell it for a profit. If you are considering investing in Bitcoin, you should only invest money that you can afford to lose.
Bitcoin is also a volatile asset, meaning that its price can fluctuate wildly. This makes it a high-risk investment, and it is not suitable for all investors.
Before purchasing cryptocurrency, you must ensure that the nature and value of Bitcoin increase as more people buy it. However, it also decreases as people sell. The value of Bitcoin comes down to basic economics: scarcity, utility, supply, and demand. Bitcoin is similar to gold in the sense that it is scarce—there is a limited supply—and it will be capped at 21 million Bitcoins (that is all that can ever exist).
Below are the links and vedios to the fatwas of famous sheikhs who have said that Bitcoin is halal and it is halal to invest in it.
IS FIXED PROFIT TRADE OR FIXED RETURN ON INVESTMENT HALAL?
The practice of guaranteeing a fixed profit in a trading partnership is not permissible in Islamic law. This is because it is a form of riba, or usury. A permissible trading partnership is one in which each partner shares in the profits and losses according to their agreed-upon share.
For example, if you give a trader money to invest in cryptocurrency trading, and he agrees to give you a fixed profit of 3%, this would be considered riba. A permissible arrangement would be for you to share in the profits and losses of the trading activity, such as 40% for you and 60% for the trader.
Similarly, guaranteeing that you will not lose money in a trading partnership is also not permissible. This is because it removes the element of risk from the partnership, which is essential to its permissibility in Islamic law.
The rationale for these prohibitions is that they protect investors from exploitation. By guaranteeing a fixed profit or guaranteeing that investors will not lose money, traders are able to take advantage of investors' lack of knowledge or experience. This is not permissible in Islamic law, which seeks to ensure that all parties to a financial transaction are treated fairly.
In Bitcoin, there are no accounts in the traditional sense. Instead, you have a Bitcoin wallet, which is a software program that stores your Bitcoin. You can think of a Bitcoin wallet as a virtual safe where you keep your Bitcoin.
Unlike traditional bank accounts, Bitcoin wallets are not controlled by a central authority. This means that you are responsible for the security of your wallet. If you lose your private keys, you will lose access to your Bitcoin.
Dhicoins is not a wallet service. We simply send the coins to any wallet you choose. To download a free Bitcoin wallet available for Android and iOS devices, you can:
Trust Wallet is the most popular recommended crypto wallet in the industry, allowing users to store, send, receive, and trade multiple cryptocurrencies. It is a non-custodial wallet, which means you are the owner of your personal keys and are responsible for the security of your funds.
Bitcoin users should be aware that there is no "forgot password" option for Bitcoin wallets. If you lose your password, you will lose access to your funds. When you create a Bitcoin wallet, you are given a 12-24 words recovery phrase, also known as your private keys. This phrase is essential for recovering your wallet if you lose your password or if your device is lost or stolen.
It is important to store your recovery phrase in a safe place and to keep it confidential. If someone gains access to your recovery phrase, they will be able to access your funds. You should not store your recovery phrase on your computer or mobile device, as this is a vulnerable location. Instead, you should write it down on multiple pieces of paper and store it in a safe place. If you lose the 12 words, you lose the money FOREVER.
1) Open the Trust Wallet app.
2) Tap on the "Wallets" tab.
3) Select the "Bitcoin" wallet.
4) Tap on the "Receive" button.
Your Bitcoin receive address will be displayed.
You can also copy your Bitcoin receive address by tapping on the "Copy" button.
The wallet address is unique and has only one purpose – to direct funds to your Trust Wallet. Therefore, no one can use the wallet address to access your digital assets in any way.
Bitcoins are divisible. Keep in mind that you don’t have to buy a whole bitcoin. Each bitcoin is divisible to the 8th decimal place, meaning that each Bitcoin can be split into 0.00000001 bitcoins. This is called a Satoshi. For example, if you only have 500 MVR to invest, you can still buy Bitcoin. You would simply buy 0.00050000 Bitcoin, which is equivalent to 500 MVR.
It totally depends on you whether you are a smart person or not. When bitcoin is selling well, everybody wants to buy in, but as soon as it starts crashing, people freak out and start selling. Successful investors buy low and sell high. But our natural Instinct is to feel more comfortable buying when things are good and more comfortable selling when things are bad. As with any market, nothing is for sure. The market is not predictable! The Buyer of bitcoin has a limited loss and unlimited profit potential.
Bitcoin is traded 24/7, and its price changes every second. Use tools like Bitcoin Wisdom or Cryptowatch to analyze charts from other Bitcoin trading sites. These charts will help you understand Bitcoin’s price history across the many global Bitcoin exchanges.
Bitcoin is also very unique compared to other markets in that it trades 24 hours a day and never stops. Most stock markets only open on weekdays from 9 a.m. to 5 p.m. So many traders buy and sell bitcoins because it is a fun and fast market to trade.
1) Sign up and verify your account.
2) Specify the amount of MVR or BTC you would like to purchase, and the Dhicoins calculator will show you the live price and the exact amount of BTC or Bitcoins you will receive.
3) Enter your bitcoin receive address.
4) Send the exact amount of payment to our Bank of Maldives (BML) account. Once you have made the payment, upload the bank transfer slip and click "Payment Completed."
If all of the details are correct and the payment is received, your submitted buy order will be processed within 10 minutes, and your Bitcoin will be delivered to your wallet. You will be notified by email when your Bitcoin has been delivered.
NOTE: The entire process, from signup and automatic AI KYC verification to purchasing tokens and receiving them to the wallet,takes approximately 10 minutes.
1) Sign up and verify your account.
2) Specify the amount of BTC you would like to sell, and the Dhicoins calculator will show you the live price and the exact amount of MVR you will receive.
3) Send the amount of BTC from your wallet to Dhicoin's Bitcoin deposit address.
4) Once you have sent the bitcoin, click "Payment Completed."
If you followed every step correctly, your submitted sale order will be processed within 10 minutes once your bitcoin transaction has received 1 confirmation. Your MVR payment will be sent to your BML account that you provided during your registration on Dhicoins. You will be notified by email once your MVR payment has been credited to your BML account.
NOTE:The entire process, from signup and automatic AI KYC verification to selling tokens and receiving MVR payments to the BML account,takes approximately 10 minutes.
Dhicoins uses an AI-powered KYC verification platform that verifies users in minutes and uses machine learning to automate the verification process.
The entire process, from signup and automatic AI KYC verification to purchasing tokens and receiving them to the wallet or selling tokens and receiving MVR payments to the BML account, takes approximately 10 minutes.
The verification process helps to form trust and transparency with clients, lowers the risk of financial crime, assists in the stabilization of cryptocurrency exchanges, increases the value of the market, and will attract new customers to the space, accelerating crypto industry growth.
There is no need to do face-to-face cash transactions when buying or selling cryptocurrency. Cryptocurrency is a digital currency, so it can be transferred online. Cryptocurrency exchanges are designed for buying and selling cryptocurrency online, so you can do it from anywhere in the world.
The "buy and sell cryptocurrency face-to-face using cash" market is a hotbed for scammers and criminals. These criminals often pose as legitimate sellers and lure unsuspecting victims into sending them cash without sending any cryptocurrency in return. Many newbies are not familiar with the risks involved in buying and selling cryptocurrency, which makes them even more vulnerable to scams, physical theft, and even life-threatening situations.
The Maldives is an island country, so it may be difficult to meet face-to-face with someone to buy or sell cryptocurrency. This makes it even more important to use a trusted exchange like Dhicoins Exchange, which offers a safe and secure way to buy and sell cryptocurrency. Since 2017.
Dhicoins is the first and only non-custodial cryptocurrency exchange in the Maldives. This means that when you buy cryptocurrency on Dhicoins, you are the only one who has access to it. Dhicoins does not hold your cryptocurrency on its servers, so you do not have to worry about it being hacked or stolen.
Dhicoins has been in operation since 2017, when the price of Bitcoin was around $1000. The exchange has a large user base and a high volume of trading, which makes it a good option for buying and selling cryptocurrency.
Dhicoins calculator shows you the live price, including all fees, for the cryptocurrency you want to buy or sell. This means that you will only pay the amount you specify during your buy order, and you will receive the amount you specify during your sale order. There will be no surprises later on.
Dhicoins offers a wide selection of cryptocurrencies, including Bitcoin, Ethereum, Tether, and Dogecoin. This allows users to diversify their portfolios and reduce their risk.
Dhicoins has a user-friendly interface that is easy to use, even for beginners. The platform is designed to be intuitive and easy to navigate.
Dhicoins is available in the Maldives, which means that you can easily deposit and withdraw funds in MVR
Dhicoins is dedicated to providing a safe and secure platform for users to trade cryptocurrency. The platform uses a number of security measures to protect user funds.
The entire process, from signup to purchasing and receiving tokens or selling and receiving MVR payment, takes 10 minutes.
24/7 live chat Support from Real Humans helps you solve your issues immediately.
Dhicoins is a prestigious and reliable cryptocurrency exchange in the Maldives, offering world-class services to its users. It is the pioneering and fastest-growing cryptocurrency exchange in the country, with a rapidly expanding user base. Our team of experienced professionals is available to answer your questions and provide you with guidance.
We invite you to visit our website and learn more about the Dhicoins Exchange. We are confident that you will find us to be the best choice for your cryptocurrency buying and selling needs.
In general, Bitcoin transactions will be confirmed between 10 minutes to 1 hour. However, the confirmation time can vary depending on a number of factors, such as the network congestion and the size of the transaction. If the Bitcoin network is congested, it may take longer for transactions to be confirmed.
Dhicoins does not have the ability to speed up or confirm transactions. Transactions are confirmed by miners on the Bitcoin blockchain, and Dhicoins does not have any control over the mining process. You have to wait until it gets confirmed automatically.
Bitcoin transactions are irreversible, which means that once you have sent a Bitcoin, it cannot be canceled or reversed. This is one of the main security features of Bitcoin, as it prevents fraud and double-spending.
If you have sent Bitcoin to the wrong address, there is a very small chance that you will be able to get your funds back. This is only possible if the person who controls the receiving address is willing to return your funds. You can try contacting the person and explaining the situation. However, there is no guarantee that they will be willing to help you.
It is important to double-check the Bitcoin address before you send any funds. You can do this by copying and pasting the address into your Bitcoin wallet or by using a Bitcoin address checker. If you are still unsure about the address, you can contact the recipient and ask them to confirm the address for you.
Dhicoins shall not be liable for any losses that may occur as a result of a customer's error, such as sending Bitcoin to the wrong address. Customers are responsible for ensuring that they are sending Bitcoin to the correct address. Dhicoins does not have the ability to reverse or cancel Bitcoin transactions.
If your Bitcoin transaction has not yet confirmed, you will need to wait for it to be confirmed by Bitcoin miners. Bitcoin miners are responsible for validating and adding transactions to the Bitcoin blockchain. The confirmation process can take anywhere from 10 minutes to several hours, depending on the network's current workload.
Dhicoins does not control confirmation times. Once your transaction has been broadcast to the network, there is unfortunately nothing we can do to speed up the process. However, if your transaction does not confirm within 72 hours, the mempool may drop the transaction and the coins should be returned to the wallet of the sender.
In the following cases, you may be informed that your transaction does not exist:
Too low of a fee: If the fee you paid for your transaction is too low, it may not be confirmed by miners. Miners prioritize transactions with higher fees, so if your fee is too low, your transaction may be stuck in the mempool (a temporary holding area for unconfirmed transactions) for a long time or even indefinitely.
Node restart: When a Bitcoin node is restarted, synchronization of transaction data may be delayed. This means that your transaction may not be visible to all nodes on the network, and you may be informed that it does not exist. You can try again later, and your transaction should eventually be confirmed. If the funds do not confirm in 72 hours, the mempool may drop the transaction and the coins should be returned to the wallet of the sender.
Previous transaction not yet confirmed: If your transaction depends on the confirmation of another transaction, and that transaction is not yet confirmed, your transaction will also not be confirmed. You will need to wait until the previous transaction is confirmed before your transaction can be processed.
These are the most common reasons why you may be informed that your transaction does not exist. However, there are other possible reasons as well.
Choose a high transaction fee.
Avoid sending Bitcoin during peak times.
Use a reliable Bitcoin wallet.
Check the mempool before sending Bitcoin.
A hash, or transaction ID (TX ID), is a unique identifier of your transaction in a blockchain. It is a combination of digits and lower case (upper case in Ripple) letters that represents a proof that money has been sent. Whenever you make a payment, you will receive a hash displayed in your wallet. For example, the hash for the transaction
is a unique identifier of that specific transaction.
Hashes are located in a blockchain. This is a distributed ledger that records all transactions that have ever taken place on a particular blockchain network. Our support team may ask you to provide a hash if they need to investigate a transaction or resolve an issue.
By checking blockchain.info and pasting the hash, or transaction ID (TX ID) you can view the records of the coins that were sent to or from your address.You can also check out other sites that offer Bitcoin transactions, also known as TINs. This makes it very difficult to cheat the system and claim that a Bitcoin transaction has been sent when it has not. The hash ID is a secure and tamper-proof way to track Bitcoin transactions.
In the traditional financial world, mobile apps are ubiquitous. People use them to bank, trade stocks, and even buy groceries. But in the cryptocurrency world, things are a little different.There are a few reasons why cryptocurrency exchanges don't typically have mobile apps.
One of the biggest concerns with mobile apps is security. Mobile apps are often targeted by hackers because they are easier to attack than traditional websites. This is because mobile apps are typically installed on the user's device, which gives hackers a direct way to access the app's code.
Mobile apps can also slow down phones and drain battery life. This is because mobile apps are often designed to be complex and resource-intensive. This can be a problem for users who are trying to trade cryptocurrency on the go.
Finally, mobile apps can be difficult to use. This is because mobile screens are small and it can be difficult to navigate complex interfaces. This can be a problem for users who are trying to trade cryptocurrency quickly and easily.
So What's the Solution?
So if mobile apps are so problematic, what's the solution? The answer is dapps.Dapps, or decentralized applications, are a new type of app that runs on the blockchain. Dapps are not hosted on a single server, which makes them more secure and resistant to hacking attacks. They are also open source, which means that anyone can inspect the code to ensure that it is not malicious.In addition, dapps are designed to be lightweight and efficient, which means that they won't slow down your phone or drain your battery. And because dapps are accessed through a web browser, they can be used on any device with an internet connection.
This is why we have developed our exchange as a dapp with a mobile-friendly interface. We believe that this is the best way to provide our users with a secure, reliable, and user-friendly experience.
We are committed to providing our users with the best possible experience. If you have any questions or concerns, please don't hesitate to contact us.