(!) All commissions of EXBASE.IO and payment systems are included in the price. The payment card issuer may charge an additional fee for the operation. The purchase and sale rate is focused on the course of the world's leading cryptocurrency exchanges and updates every 20 seconds.
- 1. Why is it profitable to make exchange on the EXBASE.IO platform?
We conduct operations that are based on Kraken / Coinbase / Bitfinex exchange rates at cross rates to local currencies. Our platform has direct agreements with payment service providers, bypassing intermediaries. Thus, we got the opportunity to conduct fiat operations with minimal commissions. This allows us to offer a more profitable course to our users
- 2. How exchange rate calculates?
The rate is determined by the purchase calculator and is calculated as the international exchange rate + payment system commission + blockchain network commission + small EXBASE.IO fee for the operation.
- 3. At what moment transaction rate fixes?
Exchange rate fixes at the moment when EXBASE.IO system receives the assets on it's wallet / account.
If you send cryptocurrency it happens after few network confirmations.
If you buying crypto for fiat, exchange rate fixes after confirming card withdrawal (entering 3DS code).
- 4. Are additional commissions charged during purchase?
All commissions are inquired in the exchange rate calculated by our purchase calculator. In rare cases, additional payment may be charged by the bank that issued the payment card, for example, if you use a credit card or a card with a currency that does not coincide with the payment currency (then so-called currency conversion happens).
- 5. Do I need to pass registration for exchange operations?
No, you don’t have to register an account in the EXBASE.IO crypto wallet for using quick exchange service. However, registered users don’t need to enter their data each time to make an exchange, and after registration, you will be able to use more website features for buying, selling, exchanging, storing, receiving and sending cryptocurrencies.
- 6. Do I need to go through KYC / AML when I use the quick exchange service?
Most exchange operations doesn't require KYC / AML.
During exchange with fiat currencies, in order to counteract fraudulent transactions, we may request to verify the card.
At the current moment, we support only operations with cards issued by banks - residents of Ukraine and the Russian Federation.
- 7. How long does exchange operation takes?
Buying a cryptocurrency takes an average of 5 to 7 minutes, which you need to fill out the forms for buying and paying for cryptocurrency. As soon as we receive payment for the cryptocurrency, we immediately send the cryptocurrency to the cryptocurrency wallet specified on the purchase form and you can track the process of crediting the cryptocurrency to your wallet using the link provided by us with tx.
The speed of depositing cryptocurrency to your wallet will depend on the transaction speed of the blockchain network of the cryptocurrency you buy and the settings of your crypto wallet (the number of confirmations at which you will be credited).
Sale operation is longer because it requires sending cryptocurrency from your wallet and a time for transaction confirmation in the blockchain. As soon as we will receive few confirmations from blockchain network regarding crediting cryptocurrency to our wallet, we will immediately make payment to your card.
Currency exchange operations are much longer because they require time to send cryptocurrency from your side and for depositing cryptocurrency which was sent by our service to your wallet. To speed up the operations of buying and selling cryptocurrencies, we recommend creating an account in the EXBASE.IO crypto wallet. In your own account operations will take much less.
- 8. Which fiat and cryptocurrencies are available for exchange?
Full list of available assets for exchange is currently presented in the exchange calculator in the drop-down lists. The list currencies which are available for exchange is constantly updating and expanding.
9. What happens if I send a cryptocurrency in an amount that is less than
or higher from the amount which I specified in the application during the exchange?
Our system works automatically. The exchange will be made exactly for the amount that was sent if it is not less than the minimum possible, nor higher than maximum.
If the specified amount is lower than the minimum or more than the maximum, such issue resolves by contacting EXBASE.IO support.
Bitcoin Cash Exchange (BCH)
In 2008, when the Bitcoin blockchain was just being created, no one could imagine that in just 9 years, users will face a big problem - scalability. The fact is that the base block size was initially small - 1 MB. It was enough to save all current transactions, and DDoS attacks were easier to resist. But with the increasing popularity of blockchain, transactions became larger and larger, "confirmation queues" began to form, reaching almost a few days. And this could not continue for a long time.
The solution was found quite quickly - increase the size of the block, and also - organize the storage of information outside the main chain. But the blockchain protocol itself implied that all users should implement this decision. And some felt that this solution is beneficial only to investors, and not to ordinary users. And they offered their own alternative.
On August 1, 2017, a forced hardfork happened. The main chain of Bitcoin switched to the SegWit2x protocol, and the other chain formed a new cryptocurrency - Bitcoin Cash. The basic algorithm for data storing was saved in it, but the size of the base block was increased - up to 8 MB. And since the network retained a significant percentage of basic capacities, bitcoin cash exchange immediately began to be carried out at a fairly high level - 1 BTH to 0.5 BTC.
At the exact moment, Bitcoin Cash is an independent cryptocurrency actively used around the world. On the one hand, it’s even more profitable than traditional bitcoin, since it is mined with less competition, and it’s still far from “production peak”, which the classic BTC will reach in a few years. So a profitable exchange of BTH is a reality. Especially if you find a suitable intermediary. But there are a few problems with it, since the official financial institutions are very reluctant to work with crypto since the processes of its use are still insufficiently regulated. And, unfortunately, not only in our country, but also almost all over the world. Unless, of course, if a complete ban can be considered as effective regulation.
Multifunctional platforms. A prime example is EXBASE.IO. It allows you to make both quick exchanges and purchases, and work with cryptocurrency at a deeper level. To do this, however, you must register, but you can be sure about the safety of the entered data. The fact that the work of our platform is governed by a legal license, so you don’t have to worry about the misuse use of both resources and sensitive information. In addition, the platform provides the user reliably protected crypto wallet, which significantly facilitates the exchange of Bitcoin Cash not only to another crypto but also on fiat currency.
Exchanger Bitcoin cash online. Fast and easy, but not too reliable. There is no guarantee that in case of violation of obligations, it will be possible to hold accountable owners of such exchangers.
Cryptocurrency exchange. They have broader functionality than platforms, but you still need to learn how to work with it. Which is quite difficult, since their interface is far from intuitively understandable. In addition, “hot wallets” provided by constantly working exchange blockchains are less reliable than those provided by multi-functional platforms.
Peer-to-peer networks. Exchange without intermediaries - directly between users. And even if you do not take into account the problem of mutual trust, which is regulated by smart contracts, there are many difficulties in this process. At a minimum - low speed, a course which is not always profitable and relevant, low power - you need to find a person who will sell you just as much crypto as you need.
Benefits of using our service
Apart from the cryptocurrency wallet, which was already mentioned, EXBASE.IO platform users receive other benefits. So, for example, they can not only exchange Bitcoin Cash for a card but can also try to make a profit by speculating on fluctuations in the rate of this cryptocurrency. And as you know, invested funds are only effective when they generate income, and not just somewhere in storage.
You don’t even need to speak separately about the security of the service, anonymity, high speed of work, and other “basic for working with cryptocurrency ” advantages. But the fact that despite the platform provides intermediary services, the charged commission for this is significantly lower than most similar services is worth mentioning. Moreover, in the process when you exchange bitcoin cash online, it is calculated automatically - in the process of calculating the rate.
So if you want to join the world of cryptocurrencies in general, and Bitcoin Cash in particular, please contact us. In addition, with us, you can find useful information regarding the general knowledge necessary for effective work with cryptocurrency.
(!) Any investment in cryptocurrency, including the purchase of BCH using Exbase cryptocurrency wallet, is associated with high market risks of asset price fluctuations. Exbase provides its customers with easy and multifunctional tools for cryptocurrency operations and makes every effort to properly inform our customers about cryptocurrencies and investments in them, but Exbase does not bear any responsibility for the investment results that may result from the actions of our clients! This page and any information on it does not imply any recommendations on the acquisition of any cryptocurrency or the performance of any other investment decisions based on it.