Frequently Asked Questions
What does a Bitcoin transaction look like?
Here is a great infographic showing a bitcoin transaction.
What is a pump group and how does CryptoProspectors differ?
A pump group is typically a nefarious organization who hold scheduled pumps(organized large group where everybody is buying the same coin at once to drive up prices and then try to dump on unsuspecting buyers) except most of the time the chosen coin is already owned by the pump organizer and is being sold unbeknownst to the other members of the group at a profit. example: Think of a stock broker calling you with "the buy of the century stock" at $2.00 a share when in reality the brokerage bought 500,000 shares the day before at $1.00 each. You think you are getting the deal of the century when really the brokerage is making 100% percent profit off your ignorance.
CryptoProspectors operates openly showing all buys and sells as well as our holding to our members. If we tell you to buy it, we explain why and show you how many we hold.
Does CryptoProspectors have possession of my wallet or coins at any time?
In the future can you buy the coins back from me?
Unfortunately no. To avoid being labeled an exchange or money services business, CryptoProspectors is unable to purchase coins from customers or exchange them for other coins. That said, there is nothing stopping you from selling them on the open market(various exchanges).
Should I keep a backup of my crypto wallets?
Yes! We recommend you keep a copy of your wallet.dat file on a separate secure device(usb drive, external hard drive, etc).
Where can I find the wallet.dat file?
Windows:(C drive>users>app data>roaming>coinName)