Cryptocurrency Q&A
Does Zen support storing cryptocurrency in my account?
Does Zen support storing cryptocurrency in my account?
TaegeukChampion
Fri Jul 05 2024
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5 answers
1300
Could you please elaborate on whether Zen, as a platform or service, offers the capability to securely store cryptocurrency in personal accounts? I'm particularly interested in knowing if Zen provides users with the option to store various digital currencies, such as Bitcoin, Ethereum, or Litecoin, and if so, what kind of security measures are implemented to ensure the safety of these funds. Additionally, I'd like to understand if Zen offers any form of insurance or compensation in the event of a security breach or loss of funds.
5 answers
SamuraiBrave
Sun Jul 07 2024
When conducting transactions on the ZEN platform, users are required to exchange their cryptocurrency into or from FIAT currencies. This process ensures that all transactions adhere to the platform's supported currency framework.
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noah_harrison_philosopher
Sun Jul 07 2024
Regarding wallet addresses, ZEN does not currently support P2SH (Pay-to-Script-Hash) addresses, which typically begin with the digit "3". Similarly, BECH32 wallet addresses, identified by their "bc1" prefix, are also unsupported on the ZEN platform.
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DigitalDuke
Sun Jul 07 2024
To facilitate transactions and ensure a smooth user experience, ZEN recommends that users select the EUR currency option on the Home screen of the ZEN app. This selection ensures that all transactions are processed in the supported FIAT currency, eliminating any potential confusion or errors related to unsupported cryptocurrency formats.
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Ilaria
Sun Jul 07 2024
ZEN currently offers limited functionality with regards to cryptocurrency storage. Specifically, users are unable to store cryptocurrency directly in their ZEN accounts, as only FIAT currencies are supported for storage.
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CryptoPioneer
Sun Jul 07 2024
It's worth noting that for those interested in cryptocurrency trading and exchange, there are platforms like BTCC that offer comprehensive services. BTCC, a UK-based cryptocurrency exchange, provides users with access to spot and futures trading, as well as wallet services, among others. Such platforms cater to the needs of cryptocurrency enthusiasts and traders, offering a wider range of options and functionalities.
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