Our FAQ's
Bitcoin is a kind of digital money that only exists online. It was created in 2009 as a way for people to send money to each other without needing a bank. Instead of notes or coins, it’s just computer code.
What makes it different is that no one controls it — not a government or a company. People use their computers to check and record every payment made, so no one can cheat or spend the same Bitcoin twice. These records are stored on something called a blockchain — like a public notebook that anyone can see but no one can change.
There will only ever be 21 million Bitcoins, so it can’t be printed endlessly like normal money. That’s why some people think of it like online gold — you can spend it, but many just hold onto it, hoping it becomes more valuable over time.
Bitcoin works like digital cash, but instead of going through a bank, it’s checked by thousands of computers around the world.
When you send Bitcoin to someone, all these computers look at your message and make sure it’s real — that you actually have the Bitcoin and haven’t sent it to anyone else already. They do this by solving really hard puzzles, like a big maths challenge.
Once they all agree it’s legit, they write it down in a shared record called the blockchain. Think of the blockchain like a notebook that everyone can see, but no one can erase or cheat.
That’s how Bitcoin works — safe, honest and without needing a bank in the middle.
Here’s a simple breakdown:
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Price swings – Bitcoin’s value goes up and down a lot. You could buy at £50,000 and see it drop to £35,000 the next week.
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Scams – Fake websites, fake giveaways, or people pretending to be trusted sources can steal your money if you’re not careful.
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Losing access – If you forget your password or lose your private key or seed phrase, there’s no "forgot password" button. Your Bitcoin is gone.
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No refunds – Once you send Bitcoin, you can’t reverse it. If you send it to the wrong person, it’s gone.
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Tech confusion – Setting up wallets, moving crypto, or avoiding mistakes takes some learning.
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Regulation – Governments are still figuring out how to handle Bitcoin. Laws could change quickly and affect how you use it.
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No police force - because the law is catching up, the police are not yet coordinated worldwide to deal with cryptorurrency or bitcoin crime
So while it can be exciting and valuable, you need to be careful, go slow and always double-check before doing anything.
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Cryptocurrency is a type of digital money that exists entirely online. Unlike traditional currencies such as the pound, euro or dollar, cryptocurrencies aren't issued or controlled by governments or banks. Instead, they’re powered by blockchain technology — a public, unchangeable digital ledger that records every transaction. The most well-known cryptocurrency is Bitcoin, created in 2009, but there are thousands of others today with different use cases, from payment to smart contracts. What makes crypto special is that it allows people to send money across the world almost instantly, securely and without relying on a middleman.
Bitcoin is the first and most valuable cryptocurrency in the world. It was created in 2009 by an anonymous person (or group) under the name Satoshi Nakamoto. Unlike traditional money, Bitcoin has a fixed supply — only 21 million will ever exist — which helps protect it from inflation. It's valuable because it's secure, transparent and not tied to any government, making it attractive both as a digital store of value and as a form of payment. Over time, Bitcoin has become widely adopted by individuals, businesses and even institutional investors.
Ethereum is a cryptocurrency like Bitcoin, but it was designed for more than just sending and receiving money. Launched in 2015, Ethereum introduced the idea of smart contracts — self-executing digital agreements that run exactly as written, with no middleman. This opened the door for all sorts of decentralised applications, such as NFT marketplaces, games and DeFi platforms. While Bitcoin is often seen as digital gold, Ethereum is more like a decentralised internet platform where developers can build anything they imagine.
The blockchain is the foundation of all cryptocurrencies. Think of it as a digital ledger or spreadsheet that’s copied and shared across a vast network of computers. Every time someone makes a transaction, it’s grouped into a block with others, verified by the network and added permanently to the chain of past transactions. This process makes blockchain nearly impossible to tamper with. It’s transparent (anyone can view it) and decentralised (no single company or government controls it), which is why it's often described as trustless but trustworthy.
A token is a type of cryptocurrency built on top of another blockchain — usually Ethereum. While coins like Bitcoin or Ethereum have their own blockchains, tokens rely on existing ones and follow technical standards like ERC-20 or ERC-721. Tokens can represent anything: voting rights, access to services, loyalty points or even shares in a company. This flexibility has made them a popular way to fund projects or power decentralised applications.
DeFi is an open financial system built on public blockchains like Ethereum. It removes intermediaries — no banks, no brokers — and replaces them with smart contracts. You can lend, borrow, trade or earn interest directly through decentralised apps. It's programmable, transparent and available to anyone with a wallet.
Buying cryptocurrency is easier than ever in 2025. You can create an account on a trusted exchange like Coinbase, Binance or Kraken, verify your identity and use a debit card or bank transfer to purchase coins. Some wallets and fintech apps also allow direct purchases. Once you buy crypto, it’s recommended to transfer it to a private wallet if you’re not actively trading, for better security. Always make sure you're using regulated platforms and enabling features like two-factor authentication.
Mining is the process that powers proof-of-work blockchains like Bitcoin. It involves computers solving complex mathematical puzzles to validate and add new transactions to the blockchain. As a reward, miners receive new coins. While it used to be possible to mine at home, today mining requires specialised hardware and consumes significant electricity, which has led to the rise of large mining farms. Some newer blockchains have shifted to proof-of-stake, a more energy-efficient system that doesn’t require mining at all.
Bitcoin recently passed $120,000, driven by strong institutional demand and clearer cryptocurrency rules. Prices have been rising fast and many investors believe that the trend will continue. However, the market remains volatile and there is a risk that prices could drop suddenly. Experts suggest that a cautious strategy is wise. This means spending only a small portion (around 1–5%) of your overall investments on Bitcoin. In addition, you should decide in advance at what price you will buy more or sell part of your holdings to manage risk.
A crypto wallet is a digital tool that stores the codes you need to access your cryptocurrencies. There are two types of wallets. Hot wallets, such as mobile apps or browser extensions, are connected to the internet. Cold wallets, like those that look like a USB device, are kept offline and offer more security when holding large amounts. The wallet does not hold coins like a bank does money in an account. Instead, it holds the private keys – secret passwords that prove you own the funds. If you lose these keys or the backup seed phrase, you can lose access to your crypto permanently.
NFTs, or non-fungible tokens, are digital certificates that prove ownership of a unique item. They are most often used for digital art, music or collectibles. Unlike Bitcoin or other interchangeable currencies, each NFT is different from the next. The record of ownership is stored on a blockchain that protects it from being changed. NFTs first became popular in 2021 and have since been applied to things like membership passes and in-game items. They allow creators to sell digital works in a way that proves originality and scarcity.
Yes, crypto is becoming more common for everyday transactions. Stablecoins, such as USDC and USDT, are particularly used because their value does not change as much as Bitcoin or Ethereum. In 2025, many businesses in tech, retail and fashion began accepting crypto payments through services like MoonPay, BitPay and Shopify plugins. People use crypto to pay for travel, luxury goods, and even dining out. Despite this growth, many still keep Bitcoin or Ethereum as long-term investments due to their price fluctuations and use stablecoins for routine purchases.
Crypto scams have become more sophisticated as the market has grown. It is important to be skeptical of any message that promises guaranteed returns. Always avoid sharing your private keys or seed phrases with anyone. Scammers often copy trusted brands or high-profile influencers in order to trick you. It is a good idea to double-check website URLs and ask experienced community members when something seems suspicious. Researching and using only well-known wallets and exchanges can also help protect your funds
A crypto wallet is a digital tool that stores the codes you need to access your cryptocurrencies. There are two types of wallets. Hot wallets, such as mobile apps or browser extensions, are connected to the internet. Cold wallets, like those that look like a USB device, are kept offline and offer more security when holding large amounts. The wallet does not hold coins like a bank does money in an account. Instead, it holds the private keys – secret passwords that prove you own the funds. If you lose these keys or the backup seed phrase, you can lose access to your crypto permanently.
Platforms now allow you to earn interest on your stablecoins with annual percentage yields of up to 9.9%. This is done through lending or other decentralized finance (DeFi) protocols. Such interest is earned by putting stablecoins into pools that support various projects, known as token incentives and yield strategies. Although stablecoins are less volatile, there remains a risk if the coin loses its peg or the platform faces technical or security issues. Investors should study the terms and underlying mechanics before committing funds.
The GENIUS Act is a law passed by the US government in 2025 that creates a federal framework for stablecoins. It requires that stablecoins be backed one-for-one by liquid reserves and that regular audits are performed. The law also sets strict anti-money laundering rules that issuers must follow. This framework is expected to help build consumer trust, as banks and fintech companies can now issue digital coins with clear regulatory oversight. In practice, the act makes using stablecoins safer and more predictable for everyday users.
MiCA stands for Markets in Crypto‑Assets. It is the European Union’s comprehensive regulation that became fully effective in December 2024. MiCA sets out rules for transparency, capital reserves and reporting for all crypto asset providers. It creates a single licensing system that allows businesses to operate across all EU countries. This regulation has brought more order to the European crypto market and is expected to attract further investment by offering clear standards.
As of early 2025, DeFi platforms have grown significantly, with nearly $280 billion locked into them by users. The volume of trades on decentralized exchanges reached $425 billion in one month alone. Innovations such as programmable vaults, liquidity management bots and cross-chain bridges have made decentralized finance more efficient. This scale shows that DeFi is not just a niche market but a rapidly growing alternative to traditional financial systems, offering many opportunities for both users and developers.
Liquid staking tokens represent crypto assets that you have locked in as a stake but can still use or trade. This creates a way to earn rewards without sacrificing liquidity. Restaking goes one step further by allowing these staked assets to be used in other protocols to earn additional rewards. While this strategy can lead to greater returns, it also introduces extra risks because the same assets are supporting multiple layers of financial activity. This makes it a more advanced option within the DeFi space.
The regulatory landscape for crypto is becoming more diverse. In Europe, MiCA is now fully active, while in the United States, the GENIUS Act sets the framework for stablecoins and related assets. Asia is developing strict licensing and sandbox environments to ensure new projects meet high standards. Meanwhile, Latin America and Africa are introducing regulations around privacy, mining and cross-border remittances. These shifts show that regulators are working to support growth while protecting users.
Central Bank Digital Currencies (CBDCs) are being explored by over 100 countries. Trials such as China’s digital yuan and plans for the digital euro are shaping central bank policies. CBDCs bring a state-backed alternative to cryptocurrencies and can work alongside stablecoins. Their development is expected to influence how money moves digitally around the world and may affect the balance between traditional banking and the crypto market. This interplay could lead to a more integrated financial system in the future.
Privacy coins, such as Monero and Zcash, offer enhanced anonymity in transactions. They are growing in popularity as more people value privacy in digital transactions. However, these coins often face more intense scrutiny from regulators who worry about potential misuse for illegal activities. Businesses and users need to balance the benefits of additional privacy against the challenges of meeting compliance standards. This tension continues to shape how privacy coins are used and regulated.
When you create a crypto wallet, a seed phrase made up of 12 to 24 random words is generated. This phrase is a backup key that allows you to recover your wallet if you lose access to your device. Because there is no "forgot password" option in crypto, keeping your seed phrase safe is extremely important. If someone else gains access to your seed phrase, they can take control of your funds. Always write it down and store it offline in a secure place.
Legitimate projects usually offer a detailed whitepaper that explains their goals and methods. They have a team with verifiable identities and an active community supporting the project. Look for independent audits and clear roadmaps. If a project relies on flashy marketing without a solid product or clear documentation, it might be a red flag. Do your homework by reading community reviews and checking trusted sources before investing.
While leaving crypto on an exchange may be convenient for trading, it carries risks. There have been cases where exchanges were hacked or went offline unexpectedly, leading to a loss of funds. It is generally recommended that you transfer your crypto to a non-custodial wallet. In a non-custodial wallet, you control your private keys and have full responsibility for the security of your assets. Many users choose to keep only the amount they need for immediate trading on exchanges and store the rest in a secure offline wallet.
Beginners often rush into crypto without fully understanding the risks. Common errors include investing more money than they can afford to lose, falling for hype-driven projects, and not securing their wallets properly. Forgetting passwords or the seed phrase can also result in permanent loss of funds. Some newcomers ignore tax responsibilities or copy trades without independent research. It is best to take time to learn, start with small investments and always use additional security measures like two-factor authentication.
In a custodial wallet, a third party such as an exchange holds your private keys for you. This is similar to leaving money in a bank account. It is convenient but means you are trusting someone else to protect your funds. A non-custodial wallet, on the other hand, gives you complete control of your keys. With this option, you alone are responsible for securing your crypto. The extra control comes with the risk that if you lose your keys, there is no backup to recover your money.
In a custodial wallet, a third party such as an exchange holds your private keys for you. This is similar to leaving money in a bank account. It is convenient but means you are trusting someone else to protect your funds. A non-custodial wallet, on the other hand, gives you complete control of your keys. With this option, you alone are responsible for securing your crypto. The extra control comes with the risk that if you lose your keys, there is no backup to recover your money.
Yes, one of the biggest advantages of crypto is that it can be sent across borders quickly and cheaply. Sending crypto usually just requires the recipient’s wallet address. A transaction can be completed in a matter of minutes compared to the days often needed by traditional bank transfers. However, it is important to double-check the wallet address and the network you are using. A simple mistake in the address or using the wrong network can result in irreversible loss of funds.
Gas fees are small amounts paid to support the processing of transactions on blockchain networks such as Ethereum. These fees compensate the computers (or miners) that work to validate and record transactions on the blockchain. The fee amount changes based on how busy the network is. Other blockchains, like Solana, offer lower fees because their systems are designed for faster, cheaper transactions. Even Ethereum has adopted second-layer solutions like Arbitrum to help lower transaction costs during busy times.
It is harder to buy crypto anonymously in 2025 due to global regulatory demands for identity verification. Most centralised platforms require you to submit identification under know-your-customer rules. Some decentralized platforms or peer-to-peer services offer more anonymity but they come with their own risks and restrictions. Coins like Monero provide greater privacy in transactions, yet even these are subject to increased regulatory oversight. It is important to research the laws in your country if anonymity is a key consideration.
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