Frequently Asked Questions
We respond to some of your frequently asked platform-related questions. Please get in touch with us if you have any questions that aren't discussed here.
You can send and receive supported cryptocurrencies using your Biz Holding account. Send and receive operations are available on both mobile devices and the web. Please note that you cannot receive ETH or ETC mining rewards using Biz Holding. Send: There are two ways to send cryptocurrencies on Biz Holding - on-chain or off-chain. On-chain transfers are used to send funds from the Biz Holding platform to external addresses on the blockchain. On-chain shipments cannot be undone. Biz Holding cannot recover funds sent to the wrong address or wrong network. On-chain shipping incurs network charges and takes longer to process. Off-chain sending allows users send funds to another Biz Holding users using a phone number, email address, or username. Off-chain shipments are instant and do not incur transaction fees. Receive: After signing up, you can share your unique cryptocurrency address to receive funds through your web browser or mobile device. You can control whether your encrypted address can be verified as an Biz Holding user by enabling instant shipping in your privacy settings. Once you sign up, other users can instantly send money for free. When opting out, all shipments to encrypted addresses remain on-chain.
Incoming transactions appear in your account almost immediately, but are shown as "pending" until sufficient network confirmation is obtained. Once the transaction is confirmed, it will show as "Complete". This means that the transaction cannot be reversed and the funds cannot be withdrawn.
Small transfers with insufficient fees: All Bitcoin transactions require a miner fee that must be verified by the Bitcoin network. When sending bitcoin, you will be asked to add a miner fee to ensure the transaction is confirmed. Transactions may not be confirmed if insufficient fees are included. If you spend the same coin twice: If two transactions attempt to spend the same coin, one of them will not be confirmed by the network. Transactions generated by Biz Holding generally do not allow this to happen, as the backend system is designed to prevent it. Spend Unverified Coins: If you try to spend coins that are still pending in your account, no transaction will be generated until the coins are confirmed. High network volume: In some cases, large amounts of digital currency are sent around the world, resulting in more transactions than there is room for with each new block.
If your account is not recognized as a trusted source of funds, you may not be able to purchase cryptocurrencies or add cash to your account. Biz Holding uses automated systems to protect our community and website from fraud. There are two common reasons for this: A) if you receive a chargeback when trying to process one of your transactions, you may not be able to complete future orders. If you know of any chargebacks or cancellations on recent transactions, please provide that information when contacting us. B) In other cases, we may just need some additional information to confirm your ownership of the payment methods added to your account. If you have not done so already, please make sure there is an ID document uploaded for each person who has information verified on your Biz Holding account. This will help expedite our review process.
Biz Holding uses identity verification to comply with Know Your Customer (KYC) laws. KYC is a method of identifying and verifying that a customer is who they say they are. This is a multi-step process to prevent unauthorized account creation and use.
Biz Holding offers two-factor authentication (2FA) or multi-factor authentication, in addition to username and password as an additional layer of security. If 2-factor Verification is enabled on your account, you'll need to enter your username and password, as well as a unique verification code sent to your mobile phone.
Link payment method: Select menu Select Profile & Settings. Select Add payment method. Select the payment method you want to link. Depending on the type of payment method linked, follow the instructions to complete verification.
A transaction cannot be canceled or modified once initiated due to the nature of digital currency protocols. This allows merchants to accept digital currency without the risk of chargebacks. Therefore, users should be careful when sending funds, as the transaction cannot be reversed unless the recipient asks for a refund.