It is an online wallet for Bitcoin (BTC) and XCP. With XPC you can buy assets which are names that can be used as a currency or for other credit based systems in addition to verifiable voting and other things.
It only takes less than a minute to create the wallet. Make sure to save the twelve word password! Copy it or write it down on paper. Preferably both.
Once you have created the wallet send me the address next to “My Address #1”
With that number I can send you XCP or BTC. They are both secure online crypt currency. BTC (Bitcoin) is the most well know. XPC is a separate currency system that rides on top go bit coin using the same addresses.
It is like a numbered bank account using a foreign currency, but there is not central bank collecting interest on the distribution of funds. Also transferring funds cost very little to nothing. Like stocks the value goes up and down. Currency does this too. You can see that when you look at exchange rates between two different currencies like AUD to USD.
Do not get overwhelmed with everything above. Just create a wallet with one click save the twelve word password and then send me the address next to “My Address #1” after you log in. That is all I need to send you XCP and BTC.
DO NOT SEND ME THE TWELVE WORDS! just the address, which will look like this:
That one above is one of my address in my wallet. You can create more addresses, but for now I just need one which you will see in your newly created wallet next to “My Address #1”. By the way you can change “My Address #1” to anything you want. It is just a table for you to organize the addresses in you wallet.
You can think of an address like and email address that you can send from and receive to. It functions like and account number. Much like a swiss bank account that has a number but no name attached.
Bitcoin is not anonymous but it is because all translations are in a shared public database. But your name is not attached to the account number and a direct way. Regardless of whether it can be linked to you or not. No one can get at the funds unless they have the address and your password. That is not true with money in a bank, or other property like a house which can have a lean put on it or be lost in a court case or taken by government bodies. This can and does happen. It has happened to me and other people that I personally know. Even grandpa had it happen to him. The bank took his money when they found out Wendy’s was taking his businesses. Grandpa had a loan with them. When they became concerned about the loan getting paid they took all the money out of his account. If for any reason all you money is in an account that gets garnished, frozen or cleaned out and you have Bitcoin they cannot touch that. So to me regardless of whether it is a good investment it provides some security.