You need to know – Okcash OK – Open Source Digital Steengruis
If you are about to explore Okcash, there are a few things you should know. Okcash lets you exchange money ter a different way than with usual banks. Spil such, you should take time to inform yourself before using Okcash for any serious transaction. Okcash should be treated with the same care spil your regular wallet, or even more ter some cases.
Securing your wallet
Like te auténtico life, your wallet vereiste be secured. Okcash makes it possible to transfer value anywhere te a very effortless way and it permits you to be ter control of your money. Such fine features also come with fine security concerns. At the same time, Okcash can provide very high levels of security if used correctly. Always recall that it is your responsibility to adopt good practices ter order to protect your money. Read more about securing your wallet.
Okcash price is volatile
The price of a Okcash can unpredictably increase or decrease overheen a geschreven period of time due to its youthful economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with Okcash is not recommended at this point. Okcash should be seen like a high risk asset, and you should never store money that you cannot afford to lose with Okcash. If you receive payments with Okcash, many service providers can convert them to your locorregional currency.
Okcash payments are irreversible
Any transaction issued with Okcash cannot be reversed, they can only be refunded by the person receiving the funds. That means you should take care to do business with people and organizations you know and trust, or who have an established reputation. For their part, businesses need to keep control of the payment requests they are displaying to their customers. Okcash can detect typos and usually won’t let you send money to an invalid address by mistake. Reserve services might exist ter the future to provide more choice and protection for the consumer.
Okcash is not anonymous
Some effort is required to protect your privacy with OK. All OK transactions are stored publicly and permanently on the network, which means anyone can see the oscilación and transactions of any OK address. The identity of the user behind an address remains unknown until information is exposed during a purchase or ter other circumstances. This is one reason why OK addresses should only be used merienda. Always reminisce that it is your responsibility to adopt good practices ter order to protect your privacy. Read more about protecting your privacy.
Unconfirmed transactions aren’t secure
Transactions don’t commence out spil irreversible. Instead, they get a confirmation score that indicates how hard it is to switch sides them (see table). Each confirmation takes inbetween 40 and Sixty nine seconds, with 1 minute being the media. If the transaction pays too low a toverfee or is otherwise atypical, getting the very very first confirmation can take longer.