Frequently Asked Questions

What is a cryptocurrency?

Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. Cryptocurrency is stored in digital wallets.

What is a blockchain?

In short a blockchain is a distributed database, or ledger, that is shared among nodes of a computer network. The data that gets stored in this distributed ledger through blocks, every transaction is a new block and gets linked to the previous block, hence the name blockchain. This design means that every transaction is stored decentralized on ‘the blockchain’ and is always transparent and immutable.

What are NFTs

NFT stands for Non-fungible token, which basically means that it’s unique and not interchangeable. As opposed to Non-fungible tokens, Fungible tokens, like Bitcoin or Ethereum, are interchangeable and indistinguishable. This means that the one Bitcoin in your wallet has the same value as the one Bitcoin of another person or entity. In the case of Non-fungible tokens, each asset has its own unique characteristics. These tokens represent ownership of digital assets, such as art or in-game items where one asset is not the same as the other.

What is a wallet?

A wallet is an address on a blockchain to where transactions and NFT’s can be sent and stored. These wallets can be on a platform such as Metamask or Binance or you can choose a cold wallet where you can store all your funds safely offline.

What is Phantom Wallet?

Phantom is a digital wallet tailored for Solana and Ethereum. Upvote2,187. Phantom is a digital wallet reimagined for DeFi, making it safe and easy to store, send, receive, collect, and swap tokens on the Solana blockchain.

Where are my funds?

Your funds and NFTs are in whichever wallet that you connected to your account when you registered. It is your sole responsibility to remember and keep safe your cryptocurrency wallet credentials and the tokens inside that wallet.

• If you registered through the Web3 option, you likely have a MetaMask wallet (https://metamask.io/), or a Brave wallet if you use the Brave browser).

Use the link above to access your wallet. When you have accessed your wallet, there are tools within it to withdraw your tokens.

Why register my cryptocurrency wallet?

Deepcave utilizes blockchain technology and therefore a wallet is required in order for you to be able to interact with this blockchain technology. Your wallet will securely authorize your access to the website and help you to keep track of any transactions that you perform.

It will act as storage for Polygon Network tokens that you hold, as well as any virtual goods that you own, such as weapons or property.

A cryptocurrency wallet provides you with true ownership of everything that you purchase, earn or win. You will always have control and access to these virtual goods as long as you remain in control of your wallet.

Can I change wallets?

You can however, register a new account and connect the wallet that you wish to use for the new account.

Change your username and email address on your existing account to something else. This will allow you to re-use them on the new account.

You can transfer NFTs, such as weapons and NFT-skins to another of your wallets using the "Gifting" features on NFT exchanges like OpenSea and Rarible.

Triple check that any wallet addresses you are sending your NFTs to is correct before initiating the transfer. There is no way to recover currency or NFTs that were sent to an incorrect address.

What is KYC and how does this work?

KYC means Know Your Customer. We have to do this is to ensure we can verify the personal details of our customer and to comply with the European guidelines (Anti-Money Laundering and Anti-Terrorist Financing Act).

What is AML and how does this work?

Anti-money laundering (AML) refers to the laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income

What is AML and how does this work?

Anti-money laundering (AML) refers to the laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income