Question 1

What is the current price of BitCoal (COAL)?

Accepted Answer

As of now, BitCoal (COAL) is priced at A$ 0.00566347.

Question 2

So, what exactly is BitCoal (COAL)?

Accepted Answer

BitCoal is a digital currency which aims, as per its developers, to form the digital equivalent of coal. Coal historically has played a vital role as a primary source of power, and this importance makes it an apt symbol for a cryptocurrency. The team behind the BitCoal project presumably sees it as a "fuel" that can power transactions and investments in the digital world.

Question 3

Who are the creators of BitCoal?

Accepted Answer

The exact details regarding the team behind BitCoal are not readily shared on its official website bitcoal.io. This is somewhat common in the cryptoworld to maintain anonymity. It's always encouraged to do a thorough research while dealing with such cryptocurrencies.

Question 4

And how does BitCoal work?

Accepted Answer

BitCoal operates on a decentralized blockchain platform just like other cryptocurrencies. This implies that it is not under the control of a central authority or a government. Cryptocurrency enthusiasts are attracted to such platforms because of the privacy and autonomy they offer. Transactions made with BitCoal are recorded on the blockchain and cannot be manipulated or altered, creating a system of trust through transparency.

Question 5

What makes BitCoal unique among other cryptocurrencies?

Accepted Answer

BitCoal is claiming to position itself as the cryptocurrency equivalent of coal, a fundamental resource long used to power industries and economies. It seems that by drawing this analogy, BitCoal is aiming to become a fundamental commodity in the digital world too. Additionally, like many other cryptocurrencies, BitCoal promotes the idea of decentralization, security, privacy and transparency through its blockchain platform.

Question 6

How secure is BitCoal’s network?

Accepted Answer

BitCoal, like other cryptocurrencies, is built on a blockchain. Blockchain is known for its robust security measures and is resistant to fraud due to its decentralized nature and use of cryptographic technology. Every transaction performed using BitCoal gets recorded on the blockchain and is fully auditable meaning any malicious activity would be readily detected. However, please note that while the network itself is highly secure, it's always key to keep your personal wallets secure.

Question 7

How much BitCoal is in circulation?

Accepted Answer

As of now, BitCoal has a circulating supply of 4.5M.

Question 8

Where can I buy BitCoal (COAL)?

Accepted Answer

You can buy BitCoal (COAL) on the following exchanges: TradeOgre, Cryptopia. Be sure to research and choose a reputable exchange for your transactions.

Question 9

How can I keep my BitCoal safe?

Accepted Answer

It's crucial to store your BitCoal (and any other cryptocurrencies) in a secure wallet–preferably a hardware wallet since they're known to be particularly safe. Keep your private keys and recovery phrases confidential and make sure you keep them in a secured and offline environment. And remember that in the world of cryptocurrencies, your security is paramount - you should never share your private keys or login details with anyone.

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