If your device with 2FA (two factor authentication) is lost broken or stolen, you should and most likely have to change your passwords, set up 2FA again, and get new verification codes.
Cryptocurrency uses cryptography to create coins and secure transactions. Typically cryptocurrencies are open source with pubic, but encrypted, ledgers of all transactions based on blockchain technology.
There are a number of cryptocurrencies traded on cryptocurrency exchanges, and the growing popularity of cryptocurrency means that despite volatile prices, market caps and values are growing every year.
Popular cryptocurrencies include the original Bitcoin, Ethereum’s Ether, and Litecoin.
Cryptocurrency is legal and taxable in the US, but it isn’t legal tender (you can’t pay your taxes in Bitcoin, it is considered investment property). With that said, due to its infancy and history so far, cryptocurrencies should be invested in and used with their historical volatility in mind.
Click on any of the pages below to learn more about cryptocurrency.
TIP: If you are new to cryptocurrency, check out our guide to cryptocurrency for beginners.
Cryptocurrency wallets are generally very safe. However, it is up to you to use best practices such storing your private key, seed phrase, pin, and/or password somewhere secure and using 2FA when applicable.
Currently, there are three different Bitcoin address formats. You can tell the difference between the types of addresses by if the address starts with a 1, 3, or bc1.
Cryptocurrency is created by code. In many cases, new coins are created when transactions are confirmed by a process known as mining.
With Ethereum wallets you may need to add a custom token. You’ll need the contract address, symbol, and decimal to add a custom token.
You may need to adjust the gas price (your fee paid to miners) when sending Ethereum tokens.
You can send crypto between Coinbase accounts without paying transaction fees by sending to an email address rather than a crypto address.
When sending cryptocurrency you can choose how much you want to pay in fees in many wallets. If you send the high end of the daily average, your transaction will be processed quickly.
When a user creates a Bitcoin transaction, they have to include a transaction fee to be paid to miners to incentivize miners to add their transaction to the blockchain.
Digital asset is a term that describes any asset in an electronic form. Crypto assets are digital assets that utilize the technology behind cryptocurrencies.