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Frequently Asked Questions

Common KYC Issues

1. How does the KYC process work?

You will be asked to scan a validID (passport, driver’s license, government-issuedID) using your webcam. Please note that the driver’s license and ID need to be plastic cards to be recognized. This is a new method designed to reduce fraud and it fulfills all security standards.

2. Why am I being asked to verify my identity?

This is a measurement to prevent fraud, specifically ID fraud.

3. How long does it take to verify my ID?

This process can take up to 24-48 hours depending on the options selected and the quality of lighting, camera resolution and ID type selected.

4. Which IDs do you accept for verification?

All government-issued IDs are accepted for verification purposes (e.g. Driver’s License, Passport, or National ID). In case a company wanted to utilize our service and has an account with us, a company certificate can be uploaded instead of IDs.

5. Who will be able to see my ID?

Only the company or institution that asked you to provide a valid ID.

6. What does Cryptoexchange.com do with my information?

We collect the necessary information to allow our customers to use our products and services. This primarily includes data collection mandated by law, such as when we must comply with anti-money laundering laws or verify your identity and protect you from potentially fraudulent activity. We may also collect your data to enable certain services, improve our products, and keep you notified of new developments. We do not, and will not, sell your data to third parties.

7. What happens if my ID gets declined?

Please check if your ID is readable and fulfills the required criteria (all government issued IDs need to be made out of plastic to be recognized). Try to scan the ID again, or upload it manually.

8. Can I upload a black-and-white image of my document?

In order to verify all the security features we need a full color scan of your document. If your issue persists please submit a ticket at cryptoexchange.com/support

Escrow

1. How does escrow work on Cryptoexchange.com?

Cryptoexchange.com Escrow is a neutral third party that securely collects, holds, and releases funds from buyer to seller once a transaction has been successfully fulfilled.

2. Who handles the escrow transaction?

Our escrow services are handled and backed by our experienced and knowledgeable escrow officers.

3. How much is the Cryptoexchange.com Escrow fee?

Cryptoexchange.com Escrow fees depend on the amount of the transaction, plus a 2.5% of processing fee. You can use our Fee calculator under the Escrow tab on our website.

4. What payment option can I use for escrow transactions?

Cryptoexchange.com utilizes “cryptocurrency only” escrow services. You can use your existing cryptocurrencies available on our listing.

5. How can I withdraw the funds that I have received?

To set up a withdrawal method, navigate to your icon then click “Profile”. Afterward, select “Withdrawal” under the “Wallet” section wherein you can Input your crypto address.

6. How long does the escrow process work?

Generally, most escrow purchases can take from 5 to 20 days depending on the nature of the transaction.

7. How long does the buyer have to inspect the items?

The length of the inspection period depends on the terms agreed upon. A standard span between 1-30 days can be specified in the transaction details.

8. What is an inspection period, when does it start, and how long does it last?

The inspection period is the specified amount of time agreed upon by both parties. This method applies after the merchandise/domain(s) delivery date which the buyer will examine up until its due date.

9. How do buyers or sellers cancel transactions?

There are three ways in which a transaction may be canceled.

  1. The cancellation of the transaction depends on who initiated the transaction. If the status is waiting for you to agree, you can “approve” or “reject” the transaction sent to your email.
  2. If both parties confirmed the transactions already, either party can cancel it by clicking the “Open Dispute” button at the bottom of the transaction details. Afterward, provide the reason along with the message for cancellation.
  3. If funds are already secured, the Cancellation of the transaction can only be done by CryptoExchange.com by sending an email request. After notifying both parties, only then will the transaction be canceled.

10. How do I check the status of my transactions?

Sign in to your cryptoexchange.com account, click your Profile icon and click the “Transaction” from the dropdown to check all the status of your transactions. You will also be notified via email about the updates of the transaction.

11. Who is responsible for paying the escrow fees?

You will have the option to specify who pays for the escrow fee or it can be shared by both parties.

12. Are international sales or purchases allowed?

Yes, we offer online escrow services to most countries.

13. Where do I send my payment?

Payment should be sent to the cryptoexchange.com escrow account wallet which will be shown after you confirm transaction details.

14. How long does it take for Sellers to be paid?

Funds will be released upon the completion of the transaction. It may take the same or the next business day to be acquired by the seller.

Marketplace

1. How much is the for Air/Sea Cargo for car purchase?

Shipping costs will start from $20,000, plus 5% VAT, 5% customs duties, and 1% miscellaneous fees for Air/Sea Cargo. We assure you that we will provide all the receipts so the Buyer can send the right amount. The buyer will be the one who pays for the clearance and customs duties in their country.

2. Is there an option to change my Shipping Address?

In your Account, you can add multiple addresses by going to the “Shipping Address” under “Profile” section. In case that the order has been placed already, You can inform us through email so that we can arrange the update of details.

3. What payment option can I use for the Cryptoexchange.com marketplace?

Cryptoexchange.com uses cryptocurrency only available on our listing as a mode of payment. You can proceed on paying using the wallet address that was generated or you can scan the QR code displayed after placing the order.

4. What are the applicable fees for using Cryptoexchange.com Marketplace?

Cryptoexchange.com charges a 5% fee plus 2.5% processing fee for every marketplace transaction.

5. Who will deliver my watch purchase?

If the price of the watch is 500,000 US dollars and over, the item will be personally delivered by the Jacob & Co representative.

6. How to list my items on Cryptoexchange.com Marketplace? (Next update)

Currently, listing product on our marketplace would not be feasible yet as website is still undergoing updates. We are really into improving our services in order to fully give our customers a good experience. Once it is available, we will have you notified through email.

Security

1. I`m Having Problems With My 2FA

Ensure your Google Authenticator is synced

  1. To re-sync your Google Authenticator:
  2. Go to the main menu of the application
  3. Select settings
  4. Select time correction for codes
  5. Sync now

Restart your 2FA device

  1. Re-login to your account.
  2. Clear your browser`s cache and cookies
  3. Use a different browser or incognito mode
  4. If none of it works, please create a support ticket at cryptoexchange.com/support
Note: After removing 2FA, withdrawal functions may be suspended for 24 hours.

2. Why are my account withdrawals disabled?

This can happen for a number of reasons. Most often it indicates that there was a potential security concern related to your account, so we disabled it for your protection.

Most common reasons why an account may have been disabled:

  1. Our security team suspected your account was hacked.
  2. You violated the Crypto Exchange terms of services.
  3. You requested to have your account disabled.
  4. Your account was involved in suspicious activity.

3. How do I enable Google Authenticator for 2FA?

  1. Click on the Account tab at the upper-right side of the page.
  2. Click on the Security tab.
  3. To enable this feature, simply download Google Authenticator on your mobile device and scan the QR code.
  4. Once you have scanned the QR code and linked the Authenticator with Crypto Exchange, input the 6 digit code provided from the app and select the green Enable 2FA button.

4. How do I change my password?

  1. Login to your account then click on the Account tab at the upper-right side of the Crypto Exchange website.
  2. In the Account section, click on the Change Password tab.
  3. Next, enter your old password and the new password, and then hit the green Submit button.

Deposits and Withdrawals

1. How Can I Deposit ERC20 Tokens And Coins To The Crypto Exchange?

To deposit ERC20 (Ethereum) based coins or tokens to the Crypto Exchange, you will need to use a compatible wallet. The most popular wallets in use today are MyEtherWallet and Metamask.

  1. Firstly you will need your deposit address for the Crypto Exchange.
  2. Log into your account and head on over to the deposit page.
  3. Click the first entry in the list and scroll to choose your coin or token from the drop-down list.
  4. Once you have chosen your coin or token you will be offered the address and available networks that you can use. Some coins have a few options for network choice. Please be careful and double-check the network requirements before sending your tokens. If a memo is required, please ensure you use it as your funds may go missing without it.
  5. Copy the address as appropriate and head on over to your crypto wallet to carry on your transfer.

2. Why is my withdrawal stuck pending?

Please check the corresponding withdrawal history tied to that transaction. Visit the [Deposit & Withdrawal History] - [Withdrawals] page in your User Center. Normally, a TxID will be generated within 60 minutes, indicating that the transfer has begun on the corresponding blockchain. When the TxID is generated, click on the TxID to check its transaction status and confirmations on the blockchain.

3. Where is my deposit?

If the transaction is confirmed by the blockchain but not yet credited to your Crypto Exchange account after reaching enough network confirmations specified by our system, please submit a ticket at cryptoexchange.com/support.

Trading

1. What is Market Order?

A market order is a request by an investor to buy or sell an asset at the best available price in the current market.

2. What is a Limit Order?

A limit order is a type of order to purchase or sell an asset at a specified price or better.

3. What is Iceberg Orders?

Iceberg orders are large single orders that have been divided into smaller limit orders, usually through the use of an automated program, for the purpose of hiding the actual order quantity.

4. What is One Cancel the Other?

A one-cancels-the-other order (OCO) is a pair of conditional orders stipulating that if one order executes, then the other order is automatically canceled.

5. How do I view my holdings on Crypto Exchange?

To view your holdings, click on the Wallet tab located at the top right of the Crypto Exchange trading website.

Note: you must be signed into the platform to see the Wallet tab at the top of the page.