Only your personal documents can be used to create and verify an account at Bit4biz. Documents and personal information that belong to a different person will not be accepted during the Bit4biz verification process. Using another person’s documents is strictly forbidden and may be considered a fraudulent activity or identity theft, which can lead to the suspension of your Bit4biz account.

As a financial institution, Bit4biz has to ensure that its customers comply with KYC (Know Your Customer) policy, as a robust KYC framework is considered the most effective deterrent to financial crime. By using Bit4biz services, you confirm that you are the actual owner of the Bit4biz account and that you take responsibility for all operations.

Regarding risk assessment, simplified or consolidated identification methods may be applied during your Bit4biz verification process. You should follow the directions given by Bit4biz, regardless of which type of identification method is being applied to get your Bit4biz account verified.

In order to ensure a comprehensive prevention, while examining and verifying the identity of a customer or business, Bit4biz has the right to check the customers data (being a natural person or the company’s representative): documents which contain the name (names), surname (surnames), date of birth, personal identity number. Your personal information has to match the information you provided while creating the account at Bit4biz.

Are you brand new to Bit4biz? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

Buying bitcoin and other cryptocurrencies with a debit or credit card can be very convenient, as your Bit4biz blockchain wallet is loaded within a few minutes of your deposit so that you can buy bitcoin instantly.

  • If you don’t have a Bit4biz account yet, click on «Sign up» and you will be able to create a new account by filling in the registration form.
  • After completing the registration, you will receive a confirmation email. Please note: if you do not receive the email confirmation right after the registration, please check your Spam/Junk box or try to register once again, with an alternative email address. Please note that, in order to link your debit or credit card to your Bit4biz account, your Bit4biz profile has to be verified. Verification is required for fiat operations.
  • To link your bank card to your Bit4biz account, go to the «Add card» section under the «Linked cards» menu.
  • In the «Link bank card» section, enter your bank card details and press the «Link» button.
  • Go back to the «Linked cards» section at Bit4biz, then click on «Verify» option.
  • In order to link your card to Bit4biz account, you will have to upload your documents under specified subsections in the «Verify Card» page: a valid passport or ID card, a utility bill, and a picture of the card you want to link — in the picture, the first twelve numbers, and the CVV code must be hidden.
  • After all the verification statuses have been confirmed, you will be charged a small amount between 1.00–6.00 EUR so that we could verify your card’s validity. Part of the deducted amount will be refunded to your account and a 1.5 EUR fee will be charged for the service.
  • Check in your bank statement the amount that has been charged/reserved from the card that you are linking to your Bit4biz account.
  • Go back to the «Linked cards» section at Bit4biz, and click on the «Verify now» option.
  • In the given window, enter the exact amount charged and press «Verify». Please note that, if the card is denominated in your local currency (GBP, USD, and etc.), the amount deducted from your card must be converted to EUR.

That is it — you are all set to buy bitcoin instantly with your linked card. After linking your bank card to your Bit4biz account, there is no need to enter your card credentials multiple times, as it will be automatically included among the payment methods available for you.

At Bit4biz, you are allowed to add 20 credit or debit cards per year, but no more than 10 per week. Also, please note that you are able to make 2 deposits in 24 hours.

If you have tried to link your credit or debit card to your Bit4biz account but received an error message, this could have been caused by a number of reasons:

  • Your card company did not accept the authorization sent by Bit4biz when you attempted to add the card. Contact your card company to find out why they are rejecting the authorization and after the issue is resolved, try adding your card again.
  • You linked a card to your Bit4biz account but entered an incorrect card number, validation date or security code (CSC).
  • You failed to input the correct number or used a wrong punctuation mark while entering the exact amount you have been charged during the process. Make sure that you use a period/full stop (.) between the numbers, not a comma (,).
  • The amount you have inserted was not converted to EUR. Please check your card statement and enter the charged/reserved amount in EUR (€).
  • Your card does not support the 3D secure feature, which is an added protection against unauthorized use of your card when you make payments online.
  • You have not passed the card verification. In this case, you may be asked to provide additional documents. After the issue is resolved, try adding your card again.

Have more questions? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

Bit4biz has the responsibility to ensure that its customers’ details remain secure and, as a financial service provider, it has to comply with requirements in order to prevent crimes such as identity theft or financial fraud.

Know Your Customer (KYC) takes an important part of financial institutions Anti Money Laundering (AML) processes and requires that customers provide detailed information to ensure that they are not involved in corruption, bribery, etc. Also, KYC guarantees that the business is done legally and with legitimate entities.

Another anti-fraud measure is identity verification. It ensures that Bit4biz remains in compliance with KYC/AML laws and is performed by all legally acting financial businesses. Verifying customers’ identities is essential because it helps to build mutual trust between the brand and the user, it guarantees the safety of the funds.

Benefits of completing the Bit4biz verification

Since cryptocurrencies are not regulated, verification is not required for crypto transactions. However, in order to operate with fiat and to experience the most out of Bit4biz, it is recommended to have a fully verified Bit4biz profile. After bitcoin account verification, Bit4biz customers are allowed to use various payment methods such as Wire transfer, SEPA, Skrill, Neteller and many more.

The Bit4biz verification process might take up to 24 business hours (3 business days) after uploading all documents to the website. In order to avoid delay, it is necessary that all documents submitted comply with the requirements. In some cases, Bit4biz’s compliance team might require supplementary documents.

Are you brand new to Bit4biz? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

There are no limits on how many bitcoins you can send or receive to your Bit4biz wallet as there is no maximum or minimum amount of bitcoins you can buy or sell. For security, regulatory compliance, and fraud prevention reasons, transactions bigger than 5 BTC are processed manually. Most cryptocurrency deposits and withdrawals will be processed within a few minutes; however, it might take longer in case of manual approval.

When purchasing bitcoin through Bit4biz, limits and fees can differ depending on the payment or payout method and your verification status. Although bitcoin transactions are not regulated as bank card transactions are, in order to operate with fiat, Bit4biz must fully respect KYC (Know Your Customer) and AML (Anti-Money Laundering) policies.

Bitcoin transactions from Bit4biz to external wallets cost 0.0005 BTC (minimum fee). Transfers to other Bit4biz users by email or Bitcoin address generated at Bit4biz are free. When depositing and withdrawing funds from your Bit4biz blockchain wallet via an external wallet(s) like Skrill, Neteller, and others, limits are set by the service providers.

Search for more information about available deposit options, fees, currencies, and Bit4biz limits here.

Are you brand new to Bit4biz? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

When sending Bitcoin or any other cryptocurrency, a small mistake can happen, causing you to want to cancel your Bitcoin transaction. Unfortunately, there is no «undo» button: cryptocurrency transactions on the Bitcoin and Ethereum networks are designed to be irreversible and Bit4biz has no control over them.

Knowing this, before any order is processed make sure to double-check the recipient and transaction details, as you will not be able to cancel bitcoin transaction after. Once you are comfortable with the amount and timing of your order, click «submit».

Bitcoin was introduced as a public, fully peer-to-peer electronic cash system that was created to run without the backing of any government. For this reason, in order to succeed without a third party and verify or manage transactions, the concept of a blockchain ledger was developed. Cryptocurrencies are not physical objects or files, but entries in the blockchain, which helps to verify and track not only financial transactions but virtually everything of value.

By looking on the blockchain, you can find where your bitcoin or other altcoins went, however, bitcoin addresses don’t have IDs or other associations with your last name, passport or governmental records. The blockchain database records are truly public and easily verifiable. However, as the transaction is managed solely between the sender and the recipient, if you do not know the identity of who controls the address you sent your funds to, there is no way to contact the recipient and ask them to send back your funds. You have better chances to get your bitcoins back if you have purchased something from a merchant, as it is more likely that you can contact the recipient to request a refund.

In addition to the irreversibility of bitcoin transactions, the Bit4biz blockchain wallet is designed to give you full control of your funds, and that’s another reason why we are unable to interfere or cancel bitcoin transaction.

Have more questions? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

There can be several reasons why your deposit status is «pending»: the bitcoin transaction fee is too small or the transaction amount is large and you have to wait for enough confirmations from the Bitcoin network. For example, if you are withdrawing 5 BTC or more from Bit4biz, your transaction might be delayed, however, when talking about deposits, it depends only on the fee and the blockchain load.

The speed of bitcoin transactions is not determined by Bit4biz, it is dependent on the current congestion of the blockchain and on the Transaction Fee (also known as Mining or Miner Fee) you paid.

As the sender of the transaction, you have to include a fee to the network for processing your requested transaction. The minimum recommended fee for timely block confirmations at Bit4biz is assigned automatically by the system. There is no fee set for Bit4biz deposit, however, a fee will be required when sending cryptocurrencies to external wallets or exchanges. To speed up transactions, we recommend using a transaction fee of at least 0.0025 BTC. The bigger the fee and the transaction amount, the bigger the priority of your bitcoin deposit in the Bitcoin network.

Once a transaction is on the blockchain, a variable amount of time will be required for it to be confirmed and posted to the destination exchange. Different exchanges require different amounts of «confirmations» to verify a transaction.

At Bit4biz, six confirmations are considered sufficient proof of the legitimacy of a transaction. In order to avoid the risks of double spending, funds are not credited until at least six confirmations have taken place. Note that while your payment does not have six confirmations on the Bitcoin blockchain, your transaction will have the «pending» status and the recipient will not have access to the funds.

As the Bitcoin blockchain is a public ledger, you can search for your transaction and other payment details on a bitcoin block explorer by copy-pasting your transaction ID (TxID) into the search box. These transaction IDs are unique for each transaction and are shown in your wallet. Another way to follow a transaction to or from an address is to paste the address into the search box. This way, the block explorer will show all incoming and outgoing transactions associated with this specific address.

Some unexpected delays and bottlenecks might also be caused by the block size and the number of transactions being processed. If you are experiencing a hold-up, Bit4biz suggests that you check the status of your bitcoin deposit transaction on the Bitcoin blockchain:

  • If the transaction status is «Unconfirmed» on the blockchain — it is beyond Bit4biz’s control and it depends only on when miners start the confirmation process.
  • If you made the deposit from another exchange and the TxID is not showing up on the blockchain, please contact the customer service of the exchange where the payment was initiated.

Since Bit4biz does not control the confirmation times, we cannot speed up the process once your bitcoin deposit transaction has already been broadcasted to the network. Unfortunately, the only thing you can do is wait and be patient for it to be picked up and confirmed on the blockchain.

Have more questions? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

Bitcoin is a worldwide payment system and decentralized virtual currency, which offers quick, cheap, and highly private payments for everyone. As Bitcoin is separated into two components, it might cause a confusion.

  • Bitcoin — with a capital letter is a decentralized P2P network which helps to facilitate transactions between people without a middleman. The Bitcoin protocol is openly published and developers can review the code as well as easily adapt an open source software and modify it to their own needs.
  • bitcoin — with a lowercase ’b’ is the coin which exists on the Bitcoin network; it can be perceived as a currency for the internet, in the same way dollar or euro are currencies for the United States and Europe. Bitcoin-the-coin is the first cryptocurrency, also known as virtual or digital currency, to ever exist, and BTC is an abbreviation of it.

In 2009, Bitcoin was developed and launched as an open-source protocol based on a whitepaper written by Satoshi Nakamoto, who described the bitcoin as a digital currency backed up by the idea of an electronic payment system that should be secure, verifiable and independent of any central authority.

Since the Bitcoin release, it has experienced highs and lows, however, it stayed as the preeminent cryptocurrency in the world. In 2013, Bit4biz realized the potential of Bitcoin and in order to avail it, created an all-in-one solution — a financial platform.

Fiat currencies are a physical medium of exchange with unlimited supply that is issued and controlled by a government, bitcoin, on the other hand, has a set maximum supply of 21M coins and is not controlled by any government or entity. Both crypto and fiat currencies coexist alongside each other and have their advantages and disadvantages. Bitcoin has some resemblances to fiat money: value changes according to market variables, as a virtual currency is used to buy things or pay for services, load cards and people already use it in their daily lives as any other fiat currency, but this is where similarities end.

A shared public ledger — the «blockchain», was created to power Bitcoin and till now is commonly associated with cryptocurrencies. Information on the blockchain is recorded and instantly visible to everyone, and it also contains every transaction ever processed since the beginning of the Bitcoin network, allowing to verify its validity. Digital signatures corresponding to the sending addresses protect the authenticity of each transaction, which allows users to have full control over sending BTC from their own Bitcoin addresses. All transactions have to be confirmed by the network through a process called mining.

Supply and demand

There are several factors that can affect the bitcoin value and price volatility. The Bitcoin market is one of the few perfect market examples, where price is determined by supply and demand of bitcoins. If the demand for bitcoins increases at a faster rate than the supply increases, it drives up the price. Keeping in mind that there are only 21 million bitcoins in total that can be mined and new bitcoins are created at a decreasing rate, the demand follows the level of inflation to keep the price stable.

Bitcoin is a decentralized currency and there is no market intervention to impact the bitcoin value, however, while bitcoin has a constant supply and its demand is increasing, the value will grow. In other words, its value comes directly from people willing to accept bitcoin as a payment currency.

Availability on currency exchanges and trading platforms

It is worth to mention that bitcoin availability on currency exchanges and trading platforms that are becoming more popular among investors and traders can have huge impact on determining its value. Investors are building their wealth by long term holds and reinvestments of the growth into more cryptocurrencies and traders uses every possibility to cash out as soon as currency outperforms initial purchase price.

Cryptocurrency exchanges and trading platforms draw attention and motivate more participants to join the market, creating a network effect. While setting the rules of how and which cryptocurrencies can be added, exchange platforms make available ones more popular. It is very common that when altcoins get listed on bigger exchanges, the volume and the wider accessibility increase the price too.

Presence of competitors

Cryptocurrency itself is not regulated by a central authority, so bitcoin or any other altcoins rely upon developers and miners. This means that the community can be divided over how to solve any troubles regarding slow transaction speed, scalability etc. This is one of the reasons why «forks» happen, resulting in new cryptocurrencies like bitcoin cash or bitcoin gold. Often «forks» are associated with cryptocurrency price changes because it can cause exchange platforms, business, and users to switch to the other coin type. In one way or another all altcoins and forks derived from Bitcoin’s source code, which makes bitcoin a fundamental cryptocurrency that stands out in the crypto market and puts other cryptos into comparison with it. However, it has its rivals that investors can choose from.

It is difficult to understand how the competition might affect pricing, but the presence of competitors can influence it.

Bitcoin can be a superior payment method for the digital age: bitcoin transactions are practically free, which makes them a much cheaper alternative when compared to debit or credit cards; bitcoins are accepted globally, which makes them the perfect platform for remittances and international transactions; and payments are nearly instant, so the receiver does not have to wait for a settlement etc.

Bitcoin is more secure than most existing financial services because the technology behind Bitcoin can be trusted as long as users are willing to learn how it works, including network protocols, cryptography, IT security and payment systems. However, there are two key technological risks associated with the use of virtual currencies:

  • Security risk, because virtual money is equivalent to cash in digital form. Security issues are related to the way people and services are handling and storing their bitcoins, rather than the Bitcoin protocol itself. The vulnerabilities of the wallets, exchanges that have loopholes can cause security breaches or be affected by cyber-attacks.

    For instance, in order to secure funds, 99% of Bit4biz’s digital currency is stored in protected offline storage. Also, Bit4biz strongly encourages all customers to take preventive measures and change account passwords frequently, backup their data. Users are advised to check their accounts for suspicious activity, always be cautious and avoid clicking on links or downloading attachments from suspicious emails.
  • Stability risk, because the uptime of the payment system has to be up nearly 100% all the time. Bitcoin transactions require the availability of internet in order to operate. Even though the receiver does not need an active internet connection to eventually receive bitcoins, it is a must if they wish their wallet to reflect the funds that they’ve received.

    The biggest trust issue with digital currencies is speculations and the price volatility because owners of the currencies are not guaranteed when the price will fluctuate and if it will bring profit or loss. After learning why the prices can change and as long as users invest responsibly in the crypto market, it is easier to understand the reasons behind growing trust in cryptocurrency: bitcoin payments can be audited, the ability to choose fees, greater security and control, transparency, a reduced level of risk for merchants by anyone including industry professionals, students, and researchers.

Even though Bitcoin addresses are not tied to the identity of users on a protocol level and nobody needs to submit any personal information during transactions, achieving the complete anonymity is very difficult. Bitcoin is pseudonymous because every transaction is recorded in a public blockchain, which only contains the public key and the amount of funds transferred, however it is still linked with an electronic address. As soon as any personal details are linked to a Bitcoin address, the purchase history is also revealed to your wallet provider.

As cryptocurrency is decentralized and has no central authority attached to any government, this peer-to-peer payment system tempts representatives from law enforcement and financial agencies. The legality of digital currency is a very common question among many countries that are trying to determine how to treat crypto. The fact that bitcoin is pseudonymous, allows governments to accuse it of being a tool for criminal activities. However, the situation is changing rapidly and many countries are announcing new laws on bitcoin and cryptocurrency in general. Some are welcoming, others are cautious and discreet. For example, while The European Union (EU) still hasn’t issued any official decision on regulation, in Japan bitcoin is recognized as a legal means of payment.

Bitcoin’s reputation and the world’s trust in it will grow as long as services will improve customer protection. Bit4biz as a financial service provider is regulated by the laws and EU directives. As a result, it takes a proactive approach to ensure legal compliance — implements EU and international standard AML, also all funds are processed through regulated EU financial institutions.

As the cryptocurrency market is expanding and gaining more trust, new places to buy bitcoin create bigger competition between cryptocurrency exchanges. It is no surprise that an overwhelming number of Exchanges makes it hard to narrow down the best options. Bit4biz provides different payment methods to help you to manage bitcoins, including bank transfers and various e-wallets. Bit4biz Exchange allows you to buy or sell bitcoin safely and within seconds, so you can receive your funds immediately.

Bit4biz is rapidly gaining trust — more than 85,000 clients are already using the cryptocurrency exchange, blockchain wallet to store bitcoins, and payment processing services for merchants. Investors benefit from a diverse range of services and due to the increasing demand, Bit4biz is expanding its services to support other virtual currencies.

Bitcoin is the first cryptocurrency and since its release became the best-known, established and leading crypto in the industry. Bitcoin inspired other digital currencies, which presented themselves as modified and improved versions of it, called altcoins. There are hundreds of altcoins and they alter from each other. Some have a different economic model, employ different proof of work mining algorithms, offer less or more privacy when compared to Bitcoin, etc.

A few altcoins have gained popularity among investors, for this reason, additional Ether, Dash and Xem wallets were added to Bit4biz platform.

Are you brand new to Bit4biz? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

Divisibility is one of the properties of any form of money, commodity, fiat or cryptocurrency that makes something of use or value into exchangeable money. In order to exchange goods of varying values, money has to be broken down into smaller units. In order to adopt and encourage the practical usage and purchase of bitcoin as an everyday currency alternative, bitcoin divisibility is crucial.

Just like a 1 euro bill can be broken down into 100 euro cents, bitcoin can also be divided into smaller units. As the value of one bitcoin has increased, it is reasonable to buy a fraction of the digital currency instead of an entire bitcoin all at once. Bitcoin is divided into units as small as 0.00000001 BTC, which makes bitcoin perfect for micropayments.

The smallest value supported by the Bitcoin network is the Satoshi, named after Satoshi Nakamoto, the Bitcoin creator. Each bitcoin can be broken down into one-hundred-million (100,000,000) satoshis. In the future, if required, the divisibility of bitcoin can be increased to 100 billion smaller parts or even more, as the Bitcoin protocol and its related software can be modified to handle even smaller units.

Another common unit is the bit or microbitcoin (μBTC), which corresponds to one millionth (0.000 001) of a bitcoin. Bits, like most fiat currencies, have a two-decimal precision. Due to the network’s limited accuracy, you can send 1.23 bits but not 1.234 bits.

The chart below outlines the most commonly referred-to measurements, ranging in value from the smallest amount of bitcoin (Satoshi) to the greatest (Megabit — MBTC):

Bitcoin denomination Bitcoin units Value
Satoshi SAT 0.000 000 01 BTC
Microbit µBTC (uBTC) 0.000 001 BTC
Millibit mBTC 0.001 BTC
Centibit cBTC 0.01 BTC
Decibit dBTC 0.1 BTC
Bitcoin BTC 1 BTC
DecaBit daBTC 10 BTC
Hectobit hBTC 100 BTC
Kilobit kBTC 1000 BTC
Megabit MBTC 1 000 000 BTC

Divisibility is one of the properties of any form of money, commodity, fiat or cryptocurrency that makes something of use or value into exchangeable money. In order to exchange goods of varying values, money has to be broken down into smaller units. In order to adopt and encourage the practical usage and purchase of bitcoin as an everyday currency alternative, bitcoin divisibility is crucial.

Are you brand new to Bit4biz? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

A Bitcoin private key is an alphanumeric password/number that is encoded in different formats according to the wallet in use. A private key is used to make irreversible transactions that are guaranteed by mathematical signatures linked to every transaction. It can be represented as one of a few different forms, usually depicted as a series of randomly generated numbers and characters that variate in a number of digits, making it hard to crack.

All the formats below represent a bitcoin private key, even though they look very different from each other.

Format Example
Hex format 1E99423A4ED27608A15A2616A2B0E9E52CED330AC530EDCC32C8FFC6A526AEDD
WIF format 5J3mBbAH58CpQ3Y5RNJpUKPE62SQ5tfcvU2JpbnkeyhfsYB1Jcn
WIF-compressed format KxFC1jmwwCoACiCAWZ3eXa96mBM6tb3TYzGmf6YwgdGWZgawvrtJ

Your Bitcoin private key takes a central role in the ownership and control of your bitcoin wallet and the cryptocurrencies in it. While we are used to protecting our systems, funds and other information through a username and password, Bitcoin is secured through digital message signatures that are created through unique private keys. The private key should be closely guarded and kept confidential by its owner, since anyone who knows it could steal your funds. As the private key is stored offline most of the time, it should be backed up in a secure place, as it cannot be recovered in any way — if you lose your private key, your funds will be out of reach and lost forever.

Because Bit4biz is a cryptocurrency brokerage, it is not feasible to provide the private keys to individual wallet addresses. By doing so, it ensures the security of your funds and it also reduces the cost of sending cryptocurrencies to other Bit4biz accounts.

As Bit4biz provides bitcoin and other cryptocurrencies integration for businesses via the use of an API, merchants have the option to generate their Private and Public key pair. This option can be accessed after creating a new merchant project at «Account» — > «Projects», under the subsection «Bit4biz API». Make sure that you are in a private location and no one can see your screen, as your private key will be shown on a window from where it can be copied.

Are you brand new to Bit4biz? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

A public key is a cryptographic code that is created using asymmetric-key encryption algorithms and is used to convert a message into an unreadable format. The public key contains a string of letters and numbers, from 26 to 34 characters, usually generated from the private key. As prevention against visual ambiguity and fraud, the uppercase letter «O», the number «0», the uppercase letter «I» and the lowercase letter «l» are excluded from the set.

Commonly, a bitcoin public key starts with the number 1 and requires a private key to unlock the funds. A different version, called multi-signature public key, starts with the number 3 and more than one private key must be provided in order to reach the funds.

Format Example
Public key (Bitcoin address) 1DSsgJdB2AnWaFNgSbv4MZC2m71116JafG
Multi-signature public key 3J65t1WtEk25CNmQviecrnyiWadfRhWNLy

A public key coupled with a private key helps to keep a user’s holdings secure in the digital ecosystem. As the term «public» suggests, a public key is a unique personal address that is shared in the blockchain and everyone can see it, while a private key works as a password that you must keep just to yourself.

A bitcoin public key is tied to only one private key, which is needed to verify the signature by the receiver. This means that the private key owner is the only one who can perform the encryption of it. Since it is impossible to regenerate the private key from a public key or address, if an owner loses their private key, any bitcoin or altcoins located at this public address will be inaccessible. However, if the owner loses the public key, it is possible to recreate it with the private key.

A bitcoin public key is made up of an extremely long string of numbers, so it is compressed and shortened to form the public address — which is like a bank account number. When two people enter into an agreement in which one sends the other bitcoins or other cryptocurrencies, they reveal their public addresses. The public address is a hashed version of the public key and users can make as many public addresses as they want in order to receive bitcoins.

  • After logging in to your Bit4biz account, you will be taken to the cryptocurrency wallets page that is listed under Account > Wallets.
  • You can add additional wallets for existing currencies by clicking on «Edit» at the right-top corner and selecting the «Add Account» option.
  • Manage each sub-wallet by clicking on «View Account». Make sure that you have chosen the specific wallet to which you want to receive cryptocurrencies. If you send funds to the wrong address, you will not receive your cryptocurrency.
  • After that, you will see the QR Code and a string of letters and numbers. This is your Public Address (Wallet Address), a hashed version of your public key. In order to avoid mistakes in the address, Bit4biz suggests that you use the «Copy Address» function or scan the QR code.

Are you brand new to Bit4biz? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

Bit4biz offers over 20 ways to buy bitcoins, including online wallets such as Neteller. Bitcoin purchase using Neteller is available in EUR or USD currencies and can be processed without disclosing debit or credit card details. For these reasons, more people have discovered its advantages and a number of Bit4biz customers are already using this payment alternative to buy bitcoins with Neteller almost instantly.

  • If you don’t have a Bit4biz account yet, click on «Sign UP», where you will be able to fill in the registration form.
  • After completing the registration, you will receive a confirmation email. Please note that the letter might be in the Spam folder. Once the email is received, click on the link to complete your registration. Please note that in order to buy Bitcoin with Neteller your Bit4biz account has to be verified. Verification is required for fiat operations.
  • After logging in to your Bit4biz account, go to the «Deposit» section of your account. In the «Deposit options» window select «Deposit EUR or other currency».
  • Select the deposit country and account currency in the form. Input the deposit amount once you are done with that.
  • Scroll down to the «E-money» section and click on the Neteller logo. You will be forwarded to the official Neteller website, where you need to enter your Neteller account credentials/account ID or email and Secure ID or Authentication code.
  • The total amount (fees included) will be deducted from your Neteller account once you click on «Pay now».
  • Your deposit with Neteller will be processed.
  • In order to buy bitcoin using Neteller press the «Exchange» button and, on the following page, choose your payment currency and the amount you want to buy bitcoin with. Check the exchange details and confirm the transaction.
  • Check the exchange details and confirm the transaction.
  • You can always find the transaction history in your exchange history page at Bit4biz.

Bit4biz users need to be aware that the system will automatically charge a 5.00% deposit fee — the deducted amount cannot be smaller than 0.50€. Accordingly, the daily limits for a single deposit can range from 1€ to 5,000€, while the maximum daily limit for deposits is 5,000€. Once customers buy bitcoins with Neteller, they can move them to external wallets, use BTC to make payments or make direct and cost-free P2P transactions to other Bit4biz users. When withdrawing to an external bitcoin address, Bit4biz allows its clients to set custom transaction fees by using the «Fee configuration» option. Nethertheless, the recommended BTC withdrawal fee is 0.0025 BTC, while users can reduce it to 0.0005 BTC.

Have more questions? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

Skrill provides a global payment solution that allows customers to deposit or transfer funds instantly. It is one of the easiest ways to buy bitcoin (BTC) worldwide, as Skrill supports over 200 countries and territories, and it enables users to transfer money in over 40 currencies. Quick, easy and secure online purchases make Skrill one of the world’s leading digital payments provider and a popular choice among online users looking to receive cryptocurrency payments globally.

  • If you don’t have a Bit4biz account yet, click on «Sign up» and you will be able to create a new account by filling in the registration form.
  • After completing the registration, you will receive a confirmation email. Please note: if you do not receive the email confirmation right after the registration, please check your Spam/Junk box or try to register once again, with an alternative email address. Please note that you must verify your Bit4biz account in order to buy Bitcoins with Skrill. Verification is required for fiat operations.
  • To buy bitcoin with Skrill, first of all, you need to deposit funds from your Skrill account to your Bit4biz blockchain wallet.
  • Find «Deposit» in the top menu and then navigate to «Deposit EUR or other currency».
  • On the following page, select your country, currency you prefer to receive your deposit and finally select the amount you want to deposit.
  • Scroll down to the «E-money» section and select "Skrill«.(Note: Skrill deposit range is 1 — 1000 EUR).
  • You will be forwarded to Skrill website, where you need to login to your Skrill account.
  • Once you log in, just click «Pay now». You will be redirected to Bit4biz and the deposit will instantly be included into your account.
  • After you depositing the funds in your account, go to «Exchange», select the currency you deposited as the «Pay Currency».
  • Input the exchange amount, click on «Exchange» and, after checking your conversion details, click «Confirm».

Skrill allows Bit4biz users to deposit EUR, USD, GBP, and to withdraw EUR and USD. There are several other benefits of purchasing cryptocurrencies, such as bitcoin, Dash, XEM, and ETH, with Skrill at Bit4biz:

  • Convenient and safe money transfer through an e-wallet
  • High-level security standards and anti-fraud technology
  • Fast, easy and free setup
  • High transfer limits (verified users can send up to $25,000 per month)

Have more questions? Visit Bit4biz Help Page for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

To spend your bitcoins on Amazon you need to purchase a gift card for Amazon for the desired amount. To do that click on «WITHDRAW» on the top panel, then navigate to «TOP-UP AND VOUCHERS». Select the Amazon country you are ordering from. Enter the Gift Card amount and you will be given a bitcoin price to pay. Enter the second-factor authentication key of your Bit4biz account. You will receive a code. Now you need to go to Amazon, choose your item and add it to your cart. After you are finished packing your cart, go to checkout and enter your delivery address. When you are redirected to payment methods, choose paying using Amazon Gift Card and enter the key you received from Bit4biz.

  1. In order to receive the profile verification questionnaire, make a request via email at helpdesk@Bit4biz.com. In the letter do not forget to include the email you have used to register at Bit4biz.
  2. You will get a notification when the questionnaire is ready to be downloaded from Bit4biz. After filling in the necessary details in the form, please upload the questionnaire here.
  3. Once your questionnaire has been accepted, you will need to upload the following documents:
    • Certified copy of a valid identification document (ID card or Passport) of the company representative;
    • Certified document, which ensures Bit4biz that the person can represent the company;
    • Certified copies of the Certificate of Incorporation and the Memorandum & Articles of Association;
    • Certified Register of the company’s shareholders, with copies of their valid identification documents (ID cards or Passports). If there are any legal business entities among the shareholders, the UBO (Ultimate Beneficial Owner) list of these companies should be provided , as well as copies of their owners’ ID cards or passports;
    • Certified copy of a valid identification document (ID card or Passport) of the company’s director.

Bit4biz users need to be aware that the bitcoin merchant account verification process might take up to 24 business hours (3 business days) after all documents have been uploaded. In order to avoid any delay, it is necessary that all documents submitted comply with the requirements. In some cases, Bit4biz’s compliance team might require supplementary documents.

Have more questions? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

Integrating bitcoin payments into your online shop can bring a fair share of benefits for both your clients and your business.

  1. If you don’t have a Bit4biz account yet, click on the «Sign up», where you will be able to fill the «Sign Up» form.
  2. After completing the registration, you will receive a confirmation email in your inbox. Please note that the email might go to your Spam box. Once the email is received, click on the link and complete your registration.
  3. Create a new merchant project at «Account» → «Merchant Projects».
  4. Choose the most convenient merchant payment processing solution and integrate it into your platform.
  5. Generate the Private and Public key pair.

If you already have an e-commerce site, you can quickly start accepting cryptocurrencies by implementing a bitcoin payment processor into your existing business platform. Plugins, modules and extensions for various e-commerce shopping cart platforms are the easiest way to integrate bitcoin payments into your online store. Bit4biz offers a number of merchant payment processing options for the most popular and leading e-commerce platforms. All you have to do is to create a Bit4biz Merchant project, choose the most convenient e-commerce plugin, read the module installation instructions and integrate the bitcoin payment processor into your online shop.

  • Drupal
  • Magento
  • OpenCart
  • PrestaShop
  • WHMCS
  • WooCommerce
  • VirtueMart
  • Zen Cart
  • Magento 2

If you can’t find a bitcoin solution that directly integrates with your shopping cart, you can choose a custom integration route. With Bit4biz, merchants can start accepting and sending cryptocurrencies as a form of payment using an API. The Bit4biz Bitcoin Payment API is suitable for applications from basic projects, to enterprise-level integration and allows to access most Bit4biz services through a programming interface. It is an open source that contains a set of routines, protocols, and tool examples of all codes and documentations, including bitcoin payment integration with customizable options.

With Bitcoin Wallet API, we entrust you with your wallet management, as it is a user-friendly and an easy way to receive your preferred currency (USD, EUR, GBP, CNY or other) from your customers.

Merchant API gives you an opportunity to process an order like in any other e-commerce platform plugin. If your website was built using PHP or JAVA, you can integrate bitcoin payments using Bit4biz Merchant libraries.

Bit4biz donation buttons allow donating cryptocurrencies with just a few clicks. You can generate your own bitcoin payment button in just a few easy steps — no widgets or plugins needed. All you need to do is copy-paste our pre-prepared HTML code into your website and you are ready to accept bitcoin payments.

That is it — you are now able to fully manage bitcoin and other cryptocurrencies payments in your e-commerce platform.

Have more questions? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.

Cryptocurrencies serve as a new way to buy or sell goods and spend money on the internet, which attracts even more businesses to the crypto market. For this reason, the list of bitcoin merchant accounts at Bit4biz is growing every day — more companies in financial services, healthcare, energy and other industries are setting up a digital currency payment option.

  • If you don’t have a Bit4biz account yet, click on «Sign up» and you will be able to create a new account by filling in the registration form.
  • After completing the registration, you will receive a confirmation email. Please note that the email confirmation might go to your Spam/Junk box. Once you get the email, click on the link and complete your registration.
  • Log in to your new account and click on «Merchant projects» under the account section, then on «New Project».
  • On the «Create new merchant project» window, choose the currency your clients can use to make their payments.
  • In «Project name», you can put your brand name, website address etc.
  • In «Receive currency», select the currency in which you would like to receive your payments. E.g. if you choose bitcoin, all payments will be settled in BTC. If you decide to receive fiat, all payments will be settled in your preferred fiat currency, such as EUR, USD and other currencies supported by your Bit4biz blockchain wallet.
  • After generating the Private-Public keys pair, which is used to sign all API requests, press «Submit».
  • Under the «Public key» box, you can select different project statuses, such as «Test», «Enabled», and «For verified payers».
  • Once the merchant project is created, you are ready to start creating individual or bulk payments and to accept Bitcoin as well as Dash, Xem and fiat at your Bit4biz account.

Integrate merchant solutions via e-commerce plugins, libraries or payment processing APIs, as Bit4biz provides to companies and individual traders all the necessary integration tools. The Bit4biz merchant platform is designed to make it easy for its users to retail in crypto.

Shift to crypto without the headache, as Bit4biz provides Bitcoin Merchant solution as well as 20+ digital wallets to make it easy for both merchants and consumers to pay for products and services in most convenient way.

Have more questions? Visit Bit4biz Help pages for more information to help you navigate the Bit4biz ecosystem or contact us via the «Live chat» option available on our website.