FAQ – Frequently Asked Questions
How does the exchange work?
Integrated into the worlds largest cryptocurrency trading platforms, 10ex makes bids and asks in less than a second, and selects the most favorable available rates. Rates remain approximate until a transaction is made on the blockchain. There could be slight differences between the estimated rates and the rates and the time of a transaction.
How can you guarantee high security?
The exchange uses a brand-new feature called “deep freeze storage”, meaning the majority of crypto funds are kept in multi-signature wallets with private keys stored in different bank vaults. No single person can ever have access to more than one key. In order to spend cryptocurrencies from “deep freeze” storage will require a coordinated effort with multiple layers of encryption and security checks. Lastly, in order to facilitate instant withdrawals, multi-signature hot wallets are being used.
How can I fund my account?
Click deposit and then follow the instructions. The exchange offers a variety of deposit methods like credit or debit cards from Visa or Mastercard, crypto deposits and others.
Why do I need to provide personal information?
Since the exchange is also crypto-to fiat, it must comply with regulatory requirements. Anti-money laundering (AML) and Know Your Customer (KYC) policies are in place. The provision of personal information, as well as an identification document, is part of the compliance to regulation.
What’s the minimum exchange amount?
In order to be able to exchange cryptocurrencies, you must use 0.001 BTC for Bitcoin-related cryptocurrency pairs. For other exchanging pairs, the minimum amount will be denominated in the fiat currency of each particular pair, and it will be limited to 5 whole units of that fiat currency (Example: $5, £5, etc.).
What is fee rounding?
A policy regarding fee calculation at the exchange. Fees are calculated with two decimal places and all fees that might exceed the limitation are being rounded up. The process is executed so the second decimal digit is always one-digit value higher than it was before the rounding took place. Example: 0.111 in fee will be rounded to 0.12.
How long does the verification process take?
The verification process had been designed so clients won’t need to wait for days in a row in order to start using the exchange. Clients just need to upload the documents and they will receive an answer within hours.
Do you have worldwide coverage?
Yes, the exchange has worldwide coverage and clients are able to use its services wherever they go.
What coins are available?
A wide variety of cryptocurrency pairs are supported, so clients’ needs will be satisfied. You can buy your coins from a diversified selection of the world’s most popular cryptocurrencies.
What is a cryptocurrency wallet address?
A cryptocurrency wallet address is a digital place created for your tokens to be stored. You need to know that each coin has a wallet provider and that could be official GUI-wallets, web wallets, or other applications. An address is a randomly generated string of digits and letters.
What is the recipient and sender address?
Each cryptocurrency transaction has a sender and a recipient. The recipients’ address is the destination to which the tokens will be transferred and the sender address is the one who sends the tokens.
Why my wallet address is recognized as invalid?
Most of the time, there is a confusion between cryptocurrency names (Dash with Dashcoin, or Factom with Fantomcoin). There could be typo or characters missing. You need to make sure you’ve added the right wallet address without missing characters.
Why transactions take longer than usual?
Generally speaking, transactions are being processed in 15-30 minutes. If your transactions take much longer, that might be due to a variety of factors like blockchain overloaded ( a lot of transactions pending make the system work slower) or even a DDoS attack (it is possible that a platform could experience issues like this and the only thing you can do is wait).
What happens if my funds got sent to a wrong address?
In this particular case, it is impossible to recover the funds. It is important to double check each time you enter the wallet’s address.
What is a destination tag?
A destination tag is a short complementary combination of characters required by some XRP wallets. When you buy XRP, it is important to make sure you’ve specified the destination tag, if you are required to do so.
Is it possible to cancel a transaction?
Blockchain transactions are irreversible. Once you’ve sent your tokens, the transaction can’t be rolled back. Prior to exchanging cryptocurrencies check all the details and think twice before making the decision.