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FAQ

  • Registration is not mandatory. You may perform quick exchange without registration - that'll save your time and keep your personal data in secret. We recommend you save order reference number (or print screen the status page). The latter will simplify identification of your transaction in case of problems or questions.

  • You may sign up to create an account. It will give you access to order details and history, password editing, collective discount and referral programs. You will be able to proceed operations more economically and ability to earn money with Convertex.

  • Target address is the address of cryptocurrency that you would like to get after an exchange is completed. E.g. if you exchange Ether to Bitcoin, then, a target address is your Bitcoin wallet address. It is crucially important to indicate correct address making necessary doublechecks. Indicating wrong or incorrect target address may lead to irrevocable loss of your tokens. To make it simple: if target address is incorrect - system will automatically send coins that you’ve bought to wrong address.

  • Refund address is the deposit address of cryptocurrency that you would like to give out (or in other words sell) in exchange operation. E.g. if you exchange Bitcoin to Ether, then, a refund address is your Bitcoin address. We need this address to make an automatic refund in case if something goes wrong and system is unable to execute the exchange. Make sure to indicate correct refund address, otherwise you bare the risk of losing your deposited tokens forever. To make it simple: if the refund address is incorrect - system will automatically return coins that you’ve deposited to wrong address.

  • You can significantly speed up registration process using sign up via social network feature. We recommend to sign up via Facebook, Twitter or Google – it will take only couple of seconds!

  • Convertex sets some limitations for minimum and maximum amount that we can exchange.

    As a rule, minimum amount restriction is set to guaranty the exchange amount would be reasonable to at least cover the network fees. For instance, we won’t be able to exchange 1 DOGE due this exchange doesn’t seem reasonable. Please don’t send amounts that are less then indicated minimum. Otherwise, there is a high risk that your transaction will go through, but your tokens will be lost.

    Conversely, maximum amount restriction is related to the reserve limitation and promotes faster exchanges. You should note: time of transaction depends on the capacity of the blockchain and the amount of network fees set by you or your wallet. Bulky coin transactions may be processed for long times. To avoid long waiting we limit maximum deposit amount.

  • Whenever you send any amount of cryptocurrency it must go over the blockchain before it can be deposited to destination wallet. There are process participants called “miners” who provide hardware capacities to compile recent transactions into the blocks, solving computationally difficult mathematical puzzle. If you don’t pay any fee for the transaction miners will process it at last, meaning you will have to wait long-long time. We encourage our clients to pay recommended miner fee to guarantee that your transaction will be computed by miners (i.e. pushed through the blockchain) in several minutes. Following this recommendation, you will minimize the risk of suffering from market “pump and dump” while your transactions is still processing.

  • A Hash (or TX ID) is the unique address of a transaction in the blockchain that acts as a record or proof that the transaction has taken place. Usually, the hash is a combination of digits and letters. Using the hash (or TX ID) a person can track full information about transaction and it’s completion status. Sometimes our support team may ask you the Hash (or TX ID) to verify that transaction was actually sent to our wallet.

  • There is no account deletion option, so you may return any time.

  • Go to the Convertex.io main page. Specify an exchange direction by selecting traded cryptocurrencies. Click “Exchange” button.

    Enter the amount of deposited coins (or inversely you may enter the amount of received coins). Calculator will display the respective amount of received (or inversely deposited) coins.

    Enter target and refund addresses (including the memo, payment id, destination tag, if applicable).

    Check entered data carefully to avoid any errors or typos. Click “Exchange”.

    At this point your exchange order has been created. You will see the summary page with QR-code and target address where you should deposit coins. If you intend to send coins from desktop wallet – copy target address – go to your wallet and paste it into the corresponding field. In case you use mobile wallet – simply scan QR code and address will be inserted automatically.

    If your wallet provides possibility to set miner fee, then we encourage you to pay the recommended miner fee amount – that will speed up the transfer process and significantly reduce exchange timings.

    After sending coins monitor the status page on our website. The status page pops up after you created the order and will display the exchange status in real time.

    When your transfer appears on the blockchain the status page will display it with current number of network confirmations (as well as required number of network confirmations). Network must confirm your transaction several times and exact number of confirmations depends on coin type.

    At the moment when network confirms your transaction required number of times the exchange will be executed automatically and demanded coins will be sent to indicated wallet address.

    After a transaction is finished, the status page displays a receipt with an output transaction hash. This hash is a proof that your transaction is finished. Afterwards you may use has to track your coin transfer at any time.

  • No. Please consider deposit address a one-time address valid only for specific transaction. If you’d like to change more coins – initiate new transaction and use the deposit address indicated in the new exchange info.

  • First, you need to understand which type of coin you plan to buy and then search for popular and stable wallet version. Normally, each coin has it’s official website where they share stable wallet software distributives.

    You may also consider one of well-known multicurrency desktop (mobile) wallets, for example: Blockchain (https://www.blockchain.com), Coinpayments (https://www.coinpayments.net), Jaxx (https://jaxx.io), Electrum online wallets (https://electrum.org) or Ledger (https://www.ledger.com) hardware wallet.

  • No. Unfortunately cryptocurrency transactions are irreversible e.g. you can not return coins that were already sent. Due to same reason you cannot rollback an initiated exchange.

  • Exchange time will greatly depend on whether you pay the recommended miner fees. Sometimes when clients ignore miner fee coins might actually “travel” to our wallet for days. Another factor that might affect the exchange duration is the load on the blockchain. If blockchain network experience many concurrent transactions it might get overloaded and all transfers will be delayed. If recommended miner fee has been payed and there is no overload on the blockchain then depending on coin type exchange will take from 5 to 30 minutes.