FAQ

Bitforx
What is Bitforx?
Welcome to Bitforx
Digital wallet
Cloud mining services
Cryptocurrency exchange
Portfolio management functionality
How do I create a new Bitforx account?
What devices are supported by the app?
What information do I need to get a Bitforx account?
Why do I need to verify my account?
I didn’t receive the confirmation email. What do I do?
Can I change my email or password after registration?
Digital Wallet
What is a hot wallet?
What is a cold wallet?
What is the difference between a cold and hot wallet?
How quickly are my deposited Bitcoins added to my wallet?
Will my deposit stay in my Bitforx’s wallet indefinitely?
Bitforx wallet security settings
Why does my wallet address with every new transaction?
Why can’t I see my wallet balance on a blockchain explorer?
Cloud Mining Services
When can I withdraw my profits?
What time is necessary to execute a withdrawal request?
Where is your mining farm located?
How does the affiliate program works ?
How can I buy hashrate?
Are there any limits on the amount of hashpower I can buy ?
What cryptocurrencies can I mine?
How and when do I receive my generated cryptocurrencies ?
Client's Profile
How can I change the language used in my account?
How can I change my email?
How can I register?
I’ve forgotten my password. What do I do?
How do I reset my password?
Fees
How much do I pay to use Bitforx?
Where can I see my fees?
What are the Exchange fees?
Is there any fee for incoming transactions to my Bitforx wallet?
Is there any fee for outgoing transactions from my Bitforx wallet to an external address?
Are there any withdrawal limits to an external address?
What are the daily withdrawal limits?
What are the withdrawal fees?
Security
What are my responsibilities regarding the security of my account?
What can I do to maximize my account’s security?
Is it safe to give someone my wallets address?
Bitforx and phishing attacks
What is (2FA) Authentication?
How to set up (2FA) Authentication?
What is the difference between my password, and my two factor (2FA) code?
How to set up Two-Factor Authentication with Google Authenticator?
What is a cold wallet?
What is the difference between a cold and hot wallet?
How safe is a cold wallet?
How safe is a hot wallet?

Questions regarding the client profile:

To register hit the signup button on the main page. Add the required info in the relevant fields and tick the terms and conditions box. We’ll send you a confirmation email right after you sign up. Just follow the instructions in the email and you’re registered!
Sometimes our emails accidentally end up in your spam folder. If so, don’t forget to change the tag as "Not Spam" to receive our emails in the future. If there is no email in your spam folder, please hit the resend confirmation link again (you can find this below login on our page). If you continue to have this problem, get in touch with us immediately: support@bitforx.com.
If you’ve forgotten your password, please click the ‘forgot my password’ link next to login button and follow the instruction in your inbox.
You can change your email and password after you’ve registrered. Open settings on your profile and click the ‘change email’ button or send a reset link button. After that, just follow the instructions in the pop-up window to change it.
Download the Google Authenticator in any app store (link from google play and Apple app store). After you have downloaded the Google Authenticator app, go to your profile page on Bitforx, open settings and click on the enable button next to the Two-Factor Authentication. Follow the instructions to set up the authentication for your Bitforx account. If you’ve lost your phone or have accidentally deleted the Google authentication, contact us for help: support@bitforx.com.
If you have any questions, please contact our customer service by email at support@bitforx.com. Our working hours are: Monday to Friday 9:00-18:00; Saturday and Sunday: 10:00-16:00 Tbilisi Time (GMT+4)

Questions about your profile:

There are several places where you can buy bitcoin and other cryptocurrencies. The easiest way is to buy them on the exchanges.You can find an exchange lists on bitcoin.org/en/exchanges or sitecryptocompare.com/exchanges. They provide you with excellent information about cryptocurrency exchanges, so you can choose the ones which fit you best.
To deposit bitcoin in your Bitforx wallet, transfer bitcoins from your existing bitcoin wallet to Bitforx` wallet.
Transactions in the bitcoin network are done after 3 to 6 confirmations. This means your bitcoin payment should have an average of 3-6 confirmations. Currently, this process can take between 30 minutes and an hour, depending on the speed of the Bitcoin network.
If you want, you can keep your deposit in your Bitforx wallet for as long as you want. Even forever!
To buy hashrate, follow these simple steps: after registering, open the hashpower button on the slider and choose the desired amount of hashpower you want to buy. Click the bitcoin button to buy. (currently you can only buy hashpower with bitcoin, but soon you can use a debit card and Paypal buying options as well).
You can buy no more than 50 TH/s (50000 GH/s) hashpower without providing information for KYC requirements. But, if you want to buy more, then you should provide additional personal information and a scanned version of your ID (national ID, driving licence). Fill in the info in the popup to buy more than 50 TH/s (50000 GH/s).
Right now you can only mine Bitcoin; Litecoin and Bitcoin Cash with Bitforx, but we are diversifying our mining portfolio offering you a variety of cryptocurrencies to mine.
Our mining farms are in Kutaisi, Georgia, where the majority of produced electricity comes from hydropower sources. Additional advantages are rapid development of the blockchain industry in Georgia and a supportive business environment.

Questions about getting payouts:

Your generated asset payouts will be transferred to you every day around 00:00 UTC. Note: the first payout will be made after 24 hours.
You can withdraw as soon as you decide to do so. Currently, the withdrawal limit per transaction is 1 bitcoin and the daily withdrawal is limited to 3 bitcoins.
All requests for withdrawal of funds from Bitforx’s wallet accounts are processed and confirmed within minutes. But, do know that there can be emergency cases with delays of up to 24 hours. These delays may be associated with the congestions in bitcoin network, which we cannot influence.
There is no commissions for depositing bitcoins in your Bitforx’s wallet account. However, we charge a small amount bitcoin when you withdraw. This amount consists of two variables, the first is the bitcoin network’s transaction processing fee (this fee can be checked using this link) and the second is our withdrawal fee.
You only need to take a few simple steps to invite a friend to the affiliate program and get additional rewards from their earnings. Copy and send the referral link to anyone you want. You will earn 1 % in bitcoins from each payout of the person who has registered and purchased hashpower through this link.