FAQ

What is BitCheke?

“BitCheke is social. BitCheke is disruptive. BitCheke is the Future of Advertising and Commerce. We all understand speculation and participation is not enough and usability is what gives a currency long-term sustainability. BitCheke is the new gateway to cryptocurrency.” — Luis A. Camus, Founder of BitCheke.

Bitcheke (BCK) is a decentralized cryptocurrency, that is focused not only on disrupting an industry, but focused as well on disrupting the advertising industry and commerce, in the way we exchange goods and services. We are taking what may seem overly complicated to the masses by making cryptocurrency simple to use and understand. In advertising and commerce, consumers and businesses can be introduced to cryptocurrency through rewards reserved to incentivize them to start using cryptocurrency in their everyday life, gaining great compensations.

What is the coin ticker for Bitcheke?

BCK

Is BitCheke coin (BCK) a utility token?

Yes, it is. Bitcheke (BCK) is a decentralized cryptocurrency, that is focused not only on disrupting an industry, but focused as well on disrupting the advertising industry and commerce, in the way we exchange goods and services. It is used as a unit of account within the BitCheke ecosystem and is thus a utility token.

What is the platform (blockchain), on which BitCheke is based?

Waves

Does BitCheke have a wallets?

Yes. There are wallets for BitCheke:

• QT Wallet — Windows, Mac, Linux

• Prolectrum Wallet — Windows, Mac

• Paper Wallets

• Modern Wallet — Windows, Mac iOS/Android Lite Clients

• Chrome extension Web Wallets

Why should I use BCK?

In a nutshell, BitCheke provide benefits not only for the ordinary consumers, but for the merchants, retailers and brands as well. The main advantage for ordinary consumers is an up-to 40% “cash-back” in BitCheke tokens, which then they can use to buy goods and services on the BitCheke market, which they would be simply lose. The main advantage for retailers and merchants is similar system of “cash-back” (from 10% to 30%). It depends on how much education they gave to their employees. The main advantage for brands (for merchants and retailers as well) is that they get absolutely free access to the advertising market, thanks to BitCheke base of consumers and clients.

What are the BitCheke solutions exactly?

1. The Mobile Reward Wallet. One of the hardest problems in crypto is how to radically reduce the complexity of handling handling cryptocurrency. BitCheke solves this problem through several end users, including a mobile wallet application free to download, that will become the only soﬞware and hardware needed to socially mine Rewards that can be converted to BitCheke and a contactless smart card that can be integrated to the UniCheke POS.

2. The Smart Card Solution. The second layer that reduces even more complexity is the use of a smart card. The card can be used with or without the mobile app, and one member of the family could use the mobile app to charge up multiple cards that can be used by other members of the family. By empowering users with a contactless smart card, this enables users to avoid even the complexity of navigating a smartphone app. The number of transactions that can be completed are not limited to, Sell/ Buy Rewards, AdCredits and BitCheke, also been able to sell/Buy other currencies, pay for good and receive Rewards credited to your rewards wallet instantly.

3. The BitCheke Platform. The BitCheke Platform, is the final round-up in solving the complexity issue. As a both soﬞware and hardware, the full stack implementation allows the merchants to integrate their existing POS device by connecting with the BitCheke Platform and accept payment in lieu of purchase/sale of cryptocurrencies and sale of daily goods & services. The hardware allows the use of the Smart Card and any Mobile Wallet, whereby addressing the inter-operability complexity.

How can I buy/sell BCK?

You can buy/sell BitCheke Token on Waves DEX (Decentralized Exchange).

Does it a legal?

All entities/permits required to fulfill certain app requirements will be handled as we start development and approach launch day of such apps. BCK is an open-sourced project and development is often funded by the team members listed on BITCHEKE.io. Ongoing development, maintenance, and research is primarily directed and often funded by a core team of seven individuals. However, it is also open to anyone making contributions. All contributions are made by the users and the code/network is maintained by the users on the network.

What is “social mining?”

A revolutionary approach to traditional Mining, providing to the everyday Joe an integration into this cryptocurrency market with very low barriers, and here is where our Social Community base project presents and introduces what is known today as “Social Mining” “ Rewards” an Application developed by the Bitcheke team, today available in its Beta Light version only for Android, with the intention to lure anyone to enter the cryptocurrency world motivated by a simple process and incentives awarded every day, where anyone can download “free” the application and soon in Apple Store, the App. Provides any user the ability to declare any and all expenses they have in their everyday life, declaring it manually today, just taking a picture of the declare expenses receipt or invoice and obtain a reimbursement of UPTO 40% of the total amount paid, no maמּer what was paid and no maמּer what form of payment was used, you are entitle to this rebate on all expenses, that is what we call Rewards by Bitcheke, the disruptive toll that will change Mining into Social Mining, to all Cryptocurrency investors and followers that are pro-environment and pro-life.

Did ICO ended?

Yes.

How can I invest in the BitCheke now?

So, there will be a Private Placement Program.

What is the Private Placement Program?

To raise the necessary funding to complete this project we are offering a Private Placement Program (PPP) is an innovative way to raise funds making an offer to potential investors that would like the opportunity opportunity to obtain Value tokens and a monthly release of additional Cryptos based on a bonus benefits including Rewards reimbursements for the amounts invested.

For example, if Joe invest 10 Ether in week 1, according to the above schedule, and offer below he will receive 5,000 BCK tokens and additionally (35% Extra tokens) 1,750 BCK tokens each programed month for 12 month till complete a total BCK token disbursement of (22,750 + 5,000 = 27,750).

Where can I check the Fund usage and the Roadmap of the project?

You can check it in our Whitepaper.

What is your progress to date?

In December 2017 we had launched the Rewards application for Chile, with an Application Beta Light, to start using the concepts and make all the necessary corrections and adjustments to improve the new version that should be available by Junes 2018. Today we have close to 600 downloads of the Rewards Application and with a 80% use sage and we have granted and transfer to date more than 40,000,000 in Rewards, people are keeping the Rewards, but they can sell them if they want. Compliance, LOI, KYC BitCheke and its associate administrator Inversiones Cheke SAC, Lima, Peru. Has designed the Compliance package to be completed by all potential investors to comply with all the regulations regarding money laundering and financing of terrorist acts.

What are the coin specifications?

Algorithm: SHA256 + POS

Coin Name: BITCHEKE

Coin Ticker: BCK

Max Supply: 75 Billion

Pre-mine: 20 Billion

POS Reward:

150 Coins/ Block 1st Year

100 Coins/ Block 2nd Year

50 Coins/ Block until max supply is reached

Block Time: 60 Seconds

Min Age: 6 Hours

What is a token?

Tokens are a representation of a particular asset or utility that usually resides on top of another blockchain.

Tokens can represent basically any assets that are fungible and tradeable, from commodities to loyalty points to even other cryptocurrencies.

What is a smart contract?

Smart contracts encode business rules in a programmable language onto the blockchain and are enforced by the participants of the network.

What is a blockchain?

A blockchain is a shared ledger where transactions are permanently recorded by appending blocks. The blockchain serves as a historical record of all transactions that ever occurred, from the genesis block to the latest block, hence the name blockchain.

Can i mine BitCheke Tokens?

Yes, you can mine BCK via POW (SHA256 algorithm), POS and via so-called “social” mining.

Where can i watch the price of BitCheke token?

At the moment, you can watch it only on the Waves DEX (Decentralized Exchange).

Where can i use BitCheke token?

You can use it on the BitCheke platform generally and the whole BitCheke market.

Why will the demand for the BitCheke Token grow?

This project is designed to enhance the way people view, understand, and use cryptocurrency in their daily lives. BCK is the gateway to cryptocurrency because of the innovative and simple to understand platform. Consumers and businesses globally, have an opportunity to discover how they can benefit from cryptocurrency markets and payment system. Our intent is to build a solid robust network and platform that can be easily adopted by everyone. Our goal is to create a new era of cryptocurrency payment system.