BITCOIN GUARANTEE

Bitcoin guarantee
The guarantee works as an intermediary between purchases of digital assets Al Arab Coin. It also keeps  crypto currencies (custody) of those investors who don’t want to keep their crypto in their own wallet (hardware wallet).
To use them, the user only has to do the register, confirm their identity, send resource, buy Al Arab Coin and pay the blockchain fees.

Fee
Estimates the network fee that you will need to pay when performing a transaction. The network fee is required by blockchain and not Alarab.io.

Operation
Our wallet addresses are directly generated in a blockchain tie.
Like on an exchange, when you register and have your registration approved, the system generates a new Bitcoin wallet. In this wallet the same value invested in Al Arab Coin will be deposited.
Blockchain does it all automatically. Simplifying: we do not have any access to you crypto currencies. This section informs how we approach our systems and users security and provide guidelines for you to follow.

Strong cryptography patterns
We encrypt all the user secrets linked to their wallets trough a cipher AES of 256 bits and 25.000 rounds of PBKDF2 hash. It turns the cracking of a secret PIN extremely intensive in resources: demanding more than one million days on a state-of-the-art computer these days!

We minimized the “secret” use
We use multi-signature Wallets built on deterministic hierarchical wallets (HD Wallets), as described by the pattern BIO0032, to generate new addresses for your new account without accessing private keys of old or new addresses.

Recommended security practices
Our API website and libraries use the updated security patterns, like BIP0062 and RFC6979.
Continuity, integrity and transparency.

Backups
All account (encrypted) data is backed up on cloud servers in four different continents every hour.
Ongoing security audits
We work with over 1000 security experts to discover hidden security problems before robbers do it.

Account audits through blockchain
All addresses in our systems are on-chain and it makes them publicly auditable through third-part Block Explorers. You can always check if your Alarab.io wallet balance are correct using whatever Block Explorer you choose.

Always active infrastructure
Our infrastructure is built for being abundant, eliminating all single-failure dots. Our goal is more than 99,999% of the system availability.

Bitcoin guarantee withdrawals
Keep you coins safe. To retire of our basic addresses (pattern), 2 keys are necessary. The multiple signature have several security benefits over single signature addresses (regular).
A key is kept by you, to warrant that you can always approve all transactions. The second key is kept by Alarab.io, which allows us to provide extra security to you through access restriction for API and two-factor authentication.

You should always keep your passwords backups safe.
the minimum bitcoin guarantee recovery period is 24 months from the purchase of Al Arab Coin. It is impossible to withdraw before this deadline.
The deadline for withdrawing or transferring Al Arab Coin is 24 hours after purchase. We always advise the use of a hardware wallet or MetaMask.