FAQ


  • WHAT IS ZEDEXCOIN?
  • ZedExCoin is an innovative payment system that is completely digital and offers clean transactions for its users without the hassle of middlemen. The system is decentralized and supports direct transactions between the users. It is one of the first forms of crypto currencies and has a very large market base all around the world. ZedExCoins can also be used as exchange for many other products, services and currencies.

  • HOW IS THE ZEDEXCOIN NETWORK REGULATED?
  • ZedExCoin network is unique in a way that nobody owns it. The users of this network have control over it. No Developer can modify the protocol as the users have the choice of using different software and versions. The usage and protection of this network works well when all the users consent to the protocols applied.

  • WHY DO PEOPLE TRUST ZEDEXCOIN?
  • Much of the trust in Bit Coin comes from the fact that it requires no trust at all because Bit Coin is fully open-source and decentralized. This means that anyone has access to the entire source code at any time. Any developer in the world can therefore verify exactly how ZedExCoin works.

    All transactions and ZedExCoins issued into existence can be transparently consulted in real-time by anyone. All payments can be made without reliance on a third party and the whole system is protected by heavily peer-reviewed cryptographic algorithms like those used for online banking. No organization or individual can control ZedExCoin, and the network remains secure even if not all of its users can be trusted.

  • HOW DOES ZEDEXCOIN WORK FOR THE USERS?
  • Like any other program on a computer or an app on the mobile, ZedExCoin acts like a personal wallet. As a user, you can send and receive ZedExCoins.

  • WHAT HAPPENS WHEN ZEDEXCOINS ARE LOST?
  • When a user loses his wallet, it has the effect of removing money out of circulation. Lost ZedExCoins still remain in the Block chain just like any other ZedExCoins. However, lost ZedExCoins remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to be spent again. Because of the law of supply and demand, when fewer ZedExCoins are available, the ones that are left will be in higher demand and increase in value to compensate.

  • WHAT ABOUT ZEDEXCOIN AND TAXES?
  • ZedExCoin is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with ZedExCoin.

  • WHAT ABOUT ZEDEXCOIN AND CONSUMER PROTECTION?
  • ZedExCoin is freeing people to transact on their own terms. Each user can send and receive payments in a similar way to cash but they can also take part in more complex contracts. Multiple signatures allow a transaction to be accepted by the network only if a certain number of a defined group of persons agree to sign the transaction. This allows innovative dispute mediation services to be developed in the future. Such services could allow a third party to approve or reject a transaction in case of disagreement between the other parties without having control on their money. As opposed to cash and other payment methods, ZedExCoin always leaves a public proof that a transaction did take place, which can potentially be used in recourse against businesses with fraudulent practices.

  • HOW ARE ZEDEXCOINS CREATED?
  • New ZedExCoins are generated by a competitive and decentralized process called "mining". This process involves that individuals are rewarded by the network for their services. ZedExCoin miners are processing transactions and securing the network using specialized hardware and are collecting new ZedExCoins in exchange.

  • WHY DO ZEDEXCOINS HAVE VALUE?
  • ZedExCoins have value because they are useful as a form of money. ZedExCoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies). In short, ZedExCoin is backed by mathematics. With these attributes, all that is required for a form of money to hold value is trust and adoption. In the case of ZedExCoin, this can be measured by its growing base of users, merchants, and startups. As with all currency, ZedExCoin's value comes only and directly from people willing to accept them as payment.

  • WHAT DETERMINES ZEDEXCOIN’S PRICE?
  • The price of a ZedExCoin is determined by supply and demand. When demand for ZedExCoins increases, the price increases, and when demand falls, the price falls. There is only a limited number of ZedExCoins in circulation and new ZedExCoins are created at a predictable and decreasing rate, which means that demand must follow this level of inflation to keep the price stable. Because ZedExCoin is still a relatively small market compared to what it could be, it doesn't take significant amounts of money to move the market price up or down, and thus the price of a ZedExCoin is still very volatile.

  • TELL US MORE ABOUT A BLOCK CHAIN?
  • Block Chain is similar to a ledger that allows public sharing on the ZedExCoin Network. Processed transactions that are protected by digital signatures are available on this ledger. The users with specific ZedExCoin addresses can transact with complete control for sending ZedExCoins. Specialized computer hardware allows these transactions to happen and help the user earn ZedExCoins as rewards, through a unique service called mining.

  • GIVE MORE DETAILS ABOUT YOUR “100% UPTIME GUARANTEE” SERVICE?
  • As miners are prone to slow down and break down, we ensure compensation of hash power loss through allocation of relevant pools.

  • HOW EASY IS IT TO MAKE A ZEDEXCOIN PAYMENT?
  • ZedExCoin payments are easier to make than debit or credit card purchases, and can be received without a merchant account. Payments are made from a wallet application, either on your computer or Smartphone, by entering the recipient's address, the payment amount, and pressing send. To make it easier to enter a recipient's address, many wallets can obtain the address by scanning a QR code or touching two phones together with NFC technology.

  • WHAT IF SOMEONE BOUGHT UP ALL THE EXISTING ZEDEXCOINS?
  • Only a fraction of ZedExCoins issued to date are found on the exchange markets for sale. ZedExCoin markets are competitive, meaning the price of a ZedExCoin will rise or fall depending on supply and demand. Additionally, new ZedExCoins will continue to be issued for decades to come. Therefore even the most determined buyer could not buy all the ZedExCoins in existence. This situation isn't to suggest, however, that the markets aren't vulnerable to price manipulation; it still doesn't take significant amounts of money to move the market price up or down, and thus ZedExCoin remains a volatile asset thus far.

  • IS ZEDEXCOIN LEGAL?
  • One of the most common questions or rather statement we get is “but ZedExCoin is not legal”. When we inform that ZedExCoin is legal and in fact regulated in an increasing number of countries, we can sense disbelief. So below we have mentioned the legal status of ZedExCoins in some countries with links.

  • LIST THE ADVANTAGES OF ZEDEXCOIN
  • Choice and full control – The users of ZedExCoin have full control and autonomy of doing their transactions from any place around the globe.

    Highly secure - As these transactions do not hold any personal information of the users, they are secure and irrevocable.

    Fees chargeable as per your choice - Irrespective of the transferred amount, there is no charge when you receive ZedExCoins, you can choose the amount chargeable as per your choice while spending.

    Open Information – The cryptographically secure block chain allows the users access to all the information in the money supply, which can be verified and used in actual time

  • HOW YOUR SERVICES ARE ADVANTAGEOUS WHEN COMPARED TO MY OWN HARDWARE?
  • When you invest in your own mining hardware, though it might appear to be a cheaper choice, you need to account for various hidden costs as a miner. Some of them are listed below:

    Shipping costs: You might encounter shipping costs as many merchants do charge them.

    Customs dues / VAT: Likely costs of customs and VAT.

    Delivery time: We transfer you the hashpower almost immediately online. However, when you opt for your own hardware, you might have to wait for it to be packed and shipped, which is causing you lose precious mining hours.

    Costs for additional equipment: You will end up paying more for your control units, PSU and other specific shelves.

    Setting the system up: The time you lose on setting up, configuring etc can be used to mine and profit.

    Maintenance: You will need to account for the failures in hardware, crashes and other outages, which can be quite frustrating. Our 100% Uptime Guarantee ensures stress free mining.

    Electricity: You will be using a lot of electricity which can add up to your running costs.