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Megacoin FAQ


Most frequent questions and answers

Freedom to choose. Do you dislike putting your hard earned money in a savings account with a meager 0.5% interest while your currency drops 20% in value every year? Then Megacoin is your answer.

Yes. With the magic of Megacoins that is now possible. No need for Wiring or Carrying Cash across borders. No hoops to jump through, no questioning. Just hit send.

Nope. Zero. Nothing. Unlike Banks which can require a Credit Check or Social Security Number, Megacoin doesn’t ask for anything except a smile.

This depends on your country. Pease follow your legal requirements in whatever country that may be. Megacoin is country-neutral and has a global community.

Yes. Besides the fact that 42 is the answer to the ultimate question of life, the universe, and everything. Just like traditional money with pennies and cents, Megacoins can be divided into decimals with much, much greater precision such as 1 Micro-Megacoin will be 0.000001 Megacoins. So imagine, instead of someone saying a pizza will cost 5 Mecs or Megs, they might say 5 Micros or 5 Minis. The market will create these naturally. You are living at a very exciting time!

It’s much more anonymous than traditional banking, but nothing can ever reach 100% anonymity. Even if you use cash to buy a prepaid card from a convenience store, that store still has cameras. While no names or ip addresses are publicly attached to the sending and receiving of Megacoin addresses, all transaction history is part of the public record. For example, if you tell others your Megacoin public address, they’ll obviously know its you and can look up all transactions from that address. However you can try and mitigate this by creating as many wallet addresses as you like and move Megacoins as you wish. Mixer services are coming to make this convenient for the extra cautious. Megacoin has plans to integrate systems that enhance anonyminity further such as the concept of Zerocoin.

Megacoin has a class of workers called miners who “mine” megacoins (similar to Gold Miners). Miners run special software on their computer to run encryption calculations to be the first person to find special codes that will add Megacoins to their wallet and put those Megacoins into circulation. Miners also act as accountants to verify all transactions on the Megacoin network and compare work against each other to keep Megacoin secure.