FAQ
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• How to register an account on Switchere?

  Getting started with using the exchange services — what can be easier! Registration can be done in just a minute!
  

  • Press the “Register” tab in the upper right corner of the site;
  • In the Switchere widget form, please enter your valid email address;
  • Create a secure password;
  • Tick the checkbox “I agree to Terms of Use, Privacy Policy and Disclaimer and Consent”;
  • Tap “Complete Registration” and check your inbox for a verification code to confirm your user account registration at Switchere.

  As an option, you can also use your Facebook or Google account to sign up with Switchere. After pressing the “Register” button, choose any of the two provided options for a quick sign up.

• How to delete an account on Switchere?

  If you want to delete your account on the Switchere.com website, please follow the instructions described below:
  

  • Log into your account;
  • Press your account icon and choose the “Settings” tab;
  • Press the “Delete Account” button In the “Settings > Email Address” section;
  • Tick the corresponding checkboxes and confirm the action;
  • An email for account deletion will be sent to your email address. Please check your inbox and press the “Delete Account” button to finalize your user account deletion on the Switchere.com website.

• What is Bitcoin?

  Bitcoin is a decentralized P2P cryptocurrency without a central bank or single administrator; it can be sent from user to user on the P2P bitcoin network without the need for any intermediaries. All transactions are verified by network nodes through cryptography and recorded on blockchain. All members of the Bitcoin network are anonymous, no one knows their identities or contact details. Considering that the system is transparent, the network users see public wallet addresses of senders and receivers as well as the transaction amount. However, their identities and locations remain unknown.

• What is a cryptocurrency wallet address?

  A cryptocurrency wallet address is similar to a bank account number. It is a string of letters and numbers (assigned and generated separately for each supported cryptocurrency) that is used when making a transfer of funds. Your wallet address can also be represented as a QR code. Each currency has a different wallet address. You can use any of these addresses for money transfers, as long as it is the correct address type for the cryptocurrency you wish to use.

• What is a cryptocurrency wallet?

  A cryptocurrency wallet is a device, physical medium, software program or a service which stores the public and/or private keys and can be used to track ownership, receive or spend cryptocurrencies.

• What are the types of cryptocurrency wallets?

  Any type of a cryptocurrency wallet is a combination of your private key and public address. Based on how and where you store them, it is possible to classify crypto wallets as follows:
  

  • Hardware wallets. These are hardware devices programmed specifically for handling private keys and public addresses. They look like a hybrid of a flash drive and a smartphone. The purpose of such devices is to safely store a seed-phrase. It is considered secure owing to not being connected to the internet, thus minimizing potential risks of phishing, clickjacking etc.
  • Paper wallets. A paper wallet is a type of "cold" storage because it is used without the Internet connection. It includes printing out your public and private keys on a piece of paper which are stored and saved in a secure place. It is a sheet of paper that contains an image of the code phrase itself in an explicit or encrypted form (for example, a QR code that can be read by a scanner or a mobile device). It is another secure way of storing your crypto but not all cryptocurrencies offer paper wallets.
  • Desktop wallets. A desktop wallet is a software installed on a PC. The advantage is that a user can choose a wallet with an optimal set of functions and different levels of security. Desktop wallets are downloaded and installed on a single PC or laptop and they are only accessible from that one device where it was downloaded.
  • Mobile wallets. A mobile wallet is an application for smartphones. This type of wallets is considered convenient, as it is always accessible.
  • Web wallets. Web wallets are hot wallets that are always connected to the internet and can be accessed through different internet browsers.

• Where can I get a cryptocurrency wallet?

  As a rule, you can download crypto wallets from the official websites of the major cryptocurrencies or you can use multicurrency crypto wallets for your convenience.

• Which blockchains are supported on Switchere?

  The following blockchains are supported on the Switchere.com website:
  
  Native: BTC (Bitcoin), ETH (Ethereum), XRP (Ripple), LTC (Litecoin), BCH (Bitcoin Cash), XLM (Stellar), EOS (Eos), SOL (Solana), TRX (Tron), XRD (Radix), MATIC (Polygon).
  
  ERC-20 standard tokens: USDT (Tether USD), WSIENNA (Sienna), WMINIMA (Wrapped Minima), STND (Standard).
  
  TRC-20: USDT (Tether USD).
  
  SOL: USDT (Tether USD).
  
  POL: USDT (Tether USD), USDC (USD Coin).
  
  BSC (BEP-20) : USDT (Tether USD), ELK (Elk).
  
  Disclaimer: For the most accurate representation of the available blockchain options for crypto deposits and withdrawals, please check the widget form for crypto exchanges available on https://switchere.com.

• How many blockchain confirmations are required for crypto transactions?

  When you buy crypto on Switchere.com and send it to a third-party wallet/service, the number of blockchain confirmations required to complete a transaction depends solely on the recipient. The number of blockchain confirmations necessary for completing a transaction for depositing or selling cryptocurrencies on Switchere.com are below:
  

  • TRX, SOL, USDC (POL), USDT (BEP20), USDT (POL), USDT (SOL), USDT (TRC-20), XLM, XRP — 1.
  • EOS — 2.
  • BTC, BCH, LTC, MATIC — 3.
  • ETH, ELK, USDT (ERC-20), WMINIMA, XRD — 6.

• Can I cancel my transaction?

  No. Blockchain transactions are irreversible, that is why double-check the correctness of input data to avoid such situations.

• Are there any country restrictions for using services on Switchere.com?

  You may use services provided on the website by our Partners as long as you are not a resident of the “Restricted Area”. The list of Restricted Areas can be found at our Partner’s site: https://docs.payb.is/docs/supported-countries

• Which bank cards are accepted for payments by Switchere.com?

  Switchere.com accepts credit and debit cards (Visa / Mastercard / Maestro) for payment processing on the website. All verification documents provided by platform users are subject to standard eligibility requirements. Bank cards issued in Bangladesh, Belarus, Cuba, Iran, North Korea, People’s Republic of China, the Russian Federation, South Sudan, Sudan are not accepted for exchange services due to regulatory requirements adopted by the payment processing service provider.

• Are there any country limitations for bank cards used for payouts on Switchere?

  Bank cards issued in the European Economic Area (EEA) are accepted for payouts on the Switchere.com website. The list of countries includes 26 EU member states (Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden) as well as Iceland, Liechtenstein and Norway.

• Why am I asked to verify my bank card even if I passed ID verification?

  Considering regulatory compliance, due diligence and risk monitoring, we reserve the right to oblige any customer to verify his/her bank card even if a transaction is within the scope of his/her current spending limit.

• What is 3D Secure (3DS)? How to activate 3DS on my bank card?

  3-D Secure (3DS) is an additional security layer for online credit and debit card transactions. This additional security authentication is based on a three-domain model (hence the 3-D in the name itself). The three domains are 1) Acquirer domain (the bank and the merchant to which the money is being paid), 2) Issuer domain (the bank which issued the card being used) and 3) Interoperability domain (the infrastructure to support the 3-D Secure protocol). If you are not sure or do not know if your bank card supports the 3D Secure feature, you are advised to contact your bank and clarify the issue. If it is not activated on your bank card, you can ask your issuing bank to make it active upon your request.

• Why is it so important that a bank card must be issued to the cardholder’s name?

  The cardholder accepts all the responsibility for the use of the card and all money movements. The cardholder hereby authorizes the bank to process the amount(s) of any withdrawal or transfer or carry out any such instructions that may be received by the use of the card in accordance with the bank’s record of transactions. It is a mandatory security measure to prevent any bank account manipulation, identity theft, money laundering or any other illegal use. The cardholder must take all reasonable precautions to prevent unauthorized use of the card, including, not allowing anyone else to use the card.

• Can I use my bank card for payments/transactions on Switchere.com if it does not contain my name on it?

  Most importantly, a bank card that you want to use for payments/transactions on Switchere.com must be issued to you (cardholder). Ideally, the bank card must contain your first name and last name.

• Should I sign the back of my bank card? Why is it so important?

  A bank card is operable with the help of the cardholder’s signature. A signature strip is an area on the back of a card coated with a white or gray material that holds ink. Imprinted above it are words to the effect of “Authorized signature” or “Not valid unless signed.” The bank card, as soon as received, must be signed on the reverse of the card, where white color space is available. The main purpose is to discourage unauthorized card use, identify the cardholder by the merchant. The signature on the card is what binds you to the cardholder agreement. While the signature itself doesn’t protect you, the ability for the merchant to match it to your existing official signatures is where its value lies. This is done most commonly with your driver’s license, or if you’re abroad, your passport is a fine stand-in. In other words, taking a few seconds to sign that little signature strip could be the difference between your identity being stolen and not.

• What are the account limits at Switchere?

  Account limits for buying/selling/exchanging crypto are dependent on the verification tiers and risk-level calculations, which are applied by our Partners providing you the Virtual Currency Services via our website.

• How can I buy cryptocurrencies with a bank card?

  Purchasing crypto for fiat currencies (EUR, USD, etc.) is incredibly simple. To do it, simply follow the instructions below:
  

  • Use the Switchere widget form on the home page or in your user dashboard;
  • Choose the preferred fiat currency and payment method, browse and opt for the cryptocurrency you want to buy, enter the amount and wallet address;
  • You’ll be required to enter your bank card details to finalize the purchase;
  • Once the payment is made, you will get crypto to your wallet address;
  • A full list of your orders can be viewed in the “Transactions” tab.

• How can I exchange cryptocurrencies?

  To exchange one crypto to another crypto, you’ll need to:
  

  • Use the Switchere widget form on the home page or in your user dashboard;
  • Choose the cryptocurrency pair for exchanging, enter the amount and your wallet address for receiving crypto;
  • Send the exact amount of crypto in one transaction to the wallet address provided at the checkout;
  • Once you send the funds and your transaction receives the required number of blockchain confirmations, the amount of converted crypto will be sent to your provided wallet address accordingly;
  • A full list of your orders can be viewed in the “Transactions” tab.

• How to withdraw funds from your account balance on Switchere?

  Here is a simple workflow how to withdraw funds from your account balance:
  

  • Log in to your account on Switchere, navigate to your account profile icon and tap “Wallet”.
  • Press the “Withdraw” button in the “Wallet” dashboard.
  • Select the currency you want to withdraw from your Switchere wallet and enter the amount.
  • Enter your wallet address to receive crypto.
  • Make sure that the provided recipient wallet address is correct by ticking off the required checkbox.
  • Press the “Withdraw” button.
  • Your withdrawal request has been created and you will be required to confirm the withdrawal operation by entering a confirmation code sent to your email address.
  • Once confirmed, the average order processing time may take from 5 to 30 minutes.
  • You can view the status of your order in the “Transactions” tab.

• How to buy crypto using a SEPA bank transfer on Switchere?

  A SEPA transaction allows you to pay in EUR for crypto using a SEPA bank account. To buy crypto via a SEPA bank transfer, you’ll need to:
  

  • Use the Switchere widget on the Home page or you can navigate to your user account dashboard and select the “Buy / Sell” tab;
  • Choose EUR and tap “SEPA/SEPA-Instant” as a payment method;
  • Select what crypto you’d like to buy, enter the amount and your wallet address;
  • Make your SEPA transfer and receive crypto to your wallet;
  • A full list of your orders can be viewed in the “Transactions” tab.

• How the Discount Program works?

  Switchere’s Discount Program works on the basis of a volume discount system: the discount (in percentage, %) on the service fee is based on the total amount of exchanges (buy, sell and exchange operations) made on the website over the past 365 days. The higher the total volume of your exchanges, the bigger is your cumulative discount on the service fee.

  All discount calculations are measured and displayed in the Euro currency. The discount is applied automatically for your consecutive order payment on the Switchere.com website.

  There are 10 levels applicable for the discount distribution: Bronze 1 (max discount is 5%), Bronze 2 (10%), Bronze 3 (15%), Silver 1 (20%), Silver 2 (25%), Silver 3 (30%), Gold 1 (35%), Gold 2 (40%), Gold 3 (45%) and Diamond (fixed 45%). The discount increases with every step in the equivalent of €100.

• How to increase my discount?

  To increase your discount on the service fee, you are required to meet a certain volume of your exchange operations. The discount percentage on the service fee increases with every step in the equivalent of €100 — the greater your total volume over the past 365 days, the greater your cumulative discount on the service fee.

• How is the discount calculated?

  Our Discount Program works on the basis of a volume discount system: the discount on the service fee is based on the total amount of exchanges made on the website over the past 365 days. The higher the total volume of your exchanges, the bigger is your cumulative discount on the service fee. The discount percentage on service fee increases with every step in the equivalent of €100 — the greater your total volume over the past 365 days, the greater your cumulative discount on the service fee.

  To show you how the discount is calculated, here is an example:

  You are Bronze 1 tier, you have 1250 euro and you want to buy Bitcoin, that is how we calculate service fee for you:

  Amount, EUR	Discount, %	Effective Service Fee, %	Effective Service Fee, EUR	Total amount, EUR
  100	0%	3.4000%	3.40	100
  100	0.5%	3.3830%	3.38	200
  100	1%	3.3660%	3.36	300
  100	1.5%	3.3490%	3.34	400
  100	2%	3.3320%	3.33	500
  100	2.5%	3.3150%	3.31	600
  100	3%	3.2980%	3.29	700
  100	3.5%	3.2810%	3.28	800
  100	4%	3.2640%	3.26	900
  100	4.5%	3.2470%	3.24	1000
  100	5%	3.2300%	3.23	1100
  100	5.3333%	3.2187%	3.21	1200
  50	5.6666%	3.2074%	1.60	1250

  Total fee that you paid is 41.28 euro, which is 3.3024% effective service fee (2.87% discount on service fee), that’s why we say that every 100 euro matters.

  After this transaction, you will be Bronze 2 for the next 365 days and the next trade that you make will be at least with 5.3333% discount on service fee (3.2187% effective service fee).

• How does the rolling period work?

  The rolling period for distribution of the service fee discount builds up 365 calendar days. The discount on service fee is based on the total amount of successful transactions made on the website over the past 365 days.

  Here is an example for you:

  

  Date, (d.m.y.)	Volume, EUR	Volume 365 days, EUR	Discount, %	Level
  01.01.2020	0	0	0.0000%	Bronze 1
  01.06.2020	5000	5000	15.0000%	Silver 1
  01.01.2021	10000	15000	21.6650%	Silver 2
  02.06.2021	3000	13000	20.9990%	Silver 2
  03.06.2022	0	0	0.0000%	Bronze 1

• How to maintain the preferable discount level?

  To maintain your preferred discount level on the service fee, you need to have a sufficient volume over the past 365 days. Each discount level has its own volume requirements, meeting which throughout a year will sustain your discount at the preferred level.

• What are your commissions?

  Due to the all-inclusive pricing algorithm, the amount you see when making an order is final and it already includes all order processing expenses — we do not charge any added commissions (network fees, etc.), thus maintaining transparency and guaranteeing no hidden fees or unexpected, additional costs.

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