Frequently Asked Questions

 

What is a cryptocurrency? A form of digital currency.

 

Where are cryptocurrencies kept? In a virtual wallet.

 

How can such currencies be used? To purchase items on the Internet.

 

Are cryptocurrencies secure? Yes. They are also anonymous.

 

Is it possible to do transfers or pay with cryptocurrencies? Yes. All transactions remain untraceable.

 

Examples of cryptocurrencies? Bitcoin, Ethereum, Litecoin and Ripple.

 

Which was the first cryptocurrency? Bitcoin – created in 2009.

 

What is Bitcoin? A cryptocurrency that can be put into a virtual wallet that is easy to access, with immediate and anonymous transactions.

 

Do you pay fees when making deposits or withdrawals? No.

 

Are depositing and withdrawing safe and secure?  Yes.

 

Are there any limits on deposits and withdrawals? No.

 

Are transfers made immediately? Yes.

 

Do you have to verify any documentation? No.

 

Are cryptocurrencies allowed in Malta? Yes.

 

Do casinos allow payment in digital money? Yes, this is allowed by the Malta Gaming Authority.

 

How can someone register a cryptocurrency business in Malta? To register this type of business, one must present a set of specific paperwork with the Registry of Companies within the MFSA. Please refer to our service page here.

 

Is it possible to open a bank account for ICO? Yes there’s one bank in Malta that is crypto friendly.

 

Are there any conditions for opening a bank account for ICOs? One has to respect two out of the following three:

  1. The business is not a start-up
  2. ICO is already in place
  3. Have a credible and well-presented business plan

 

Important downloads:

This information is dated 07.05.2018.