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FAQ

Frequently Asked Questions

Masscoinex is a global cryptocurrency exchange platform where you can Buy, Sell, Send, Receive bitcoin and over 50+ cryptocurrencies easily and instantaneously with or without any KYC verification. From anywhere in the world.

 

Once the coins are sold the fiat balance are instantaneously deposited in to your withdrawal balance section on the drop down menu. All you have to do now, is withdraw the money by choosing your preferred withdrawal method.

Please be advised, in order to withdraw fiat balance to your preferred withdrawal method you need to have at least $ 200.00 CAD in your withdrawal account.

 

Anyone and everyone can since we're global cyptocurrency exchange. It doesn't matter from which part of the world you're from. If you want to Buy, Sell, Send, Receive bitcoin and 50+ Cryptocurrencies. You just need to signup and get started. 

Signup Now!

 

Masscoinex.com only supports $ Canadian Dollar (CAD) for depositing fiat balance. But Indian customers can deposit fiat balance by using  Indian rupees (INR) via UPI payment system on our exchange platform, which will automatically be converted to $ Canadian Dollars CAD and added to your deposit balance.

Rest of the world can deposit via their local currencies, through Credit & Debit Cards and our payment processing system would do automatic currency conversion to $ Canadian Dollar (CAD) , without any fees. So, it is as same as using a local cryptocurrency exchange in your own country.

 

Upon successfully completing the KYC validation process online. It usually takes a few hours or a max 24 hours’ period. Unless, if we find any discrepancies with your submitted documents it may delay a bit longer.

 

A non KYC validated users has some limitations. You have a daily limit of $ 15.00 (CAD) and can do either one within Buy, Sell or Send in a 24-hour period

You can deposit additionally Fiat/Money a minimum and maximum of $ 15.00 (CAD) in a 24-hour periodThis will not exhaust your daily limit until you buy cryptocurrencies.

Example 1: If you buy a particular cryptocurrency worth of $ 15.00 (CAD), then you exhaust the daily limit and can no longer Buy, Sell or Send any transaction within that 24-hour period. However, you can still Receive Cryptocurrencies as much as you want.

Example 2: If you buy a particular cryptocurrency worth of $ 10.00 (CAD), then you still have a remaining $ 5.00 (CAD) from your daily limit. You can use the remaining daily limit to Buy, Sell, or, SendAs well as Receive Cryptocurrencies as much as you want.

 

Buy Cryptocurrencies: Up to $ 15.00 (CAD) worth of any cryptocurrencies in a 24-hour period.

Sell Cryptocurrencies: Up to $ 15.00 (CAD) worth of any cryptocurrencies in a 24-hour period.

Send Cryptocurrencies: Up to $ 15.00 (CAD)worth of any cryptocurrencies in a24-hour period.

Deposit Fiat/Money: Up to  $ 15.00 (CAD) in a 24-hour period.

Receive Cryptocurrencies: Unlimited.

Withdraw Fiat/Money: N/A

Orders Can Take Upto 24 Hours To Process.

 

KYC validated user has no limitations:

Buy Cryptocurrencies:  Unlimited

Sell Cryptocurrencies:  Unlimited.

Send Cryptocurrencies: Unlimited.

Receive Cryptocurrencies: Unlimited.

Deposit Fiat/Money: Unlimited.

Withdraw Fiat/Money: Unlimited. But you must have at least $ 200.00 (CAD) before you can process a withdrawal.

 

Orders are processed instantly or in a few hours depending upon the volume.

First time users would have a 24-Hour probabtion period on their first order

 

The procedure to submit the documents are to take real time selfies on our website holding the documents mentioned below.

When you signup and login the platform will offer you 2 choices. Validate Kyc or Skip Kyc. In order to validate Kyc you need to select validate Kyc option. When you do that the system will guide you step by step with the Kyc validation process.

 

The documents required to verify your kyc are as follows:

 

Step 1: Please upload any government ID. Which has your photo, name, d.o.b, address and expiration date.

Please be advised the next step would be to take a selfie holding the same document that you just uploaded.

Step 2: Take a clear selfie of yourself holding the document that you just uploaded. Make sure that both your face and document should be clearly visible and readable.

Step 3: Take a clear selfie of yourself holding your credit card that you would be using on our platform to buy bitcoin and other cryptocurrencies. Please ensure that your face, the name on the card and the card number are clearly visible and readable. You can hide confidential information like the expiry date and CVV/Signature panel number.

Please be advised your name on the card should match your profile name and the government ID that you submitted earlier.

Step 4: Please type the last 4 digits of the card number. Please ensure that last 4 digits of the card matches the card that you uploaded earlier.

For example if your card number is: 4111 1234 5678 9101.

Then last 4 digits of the card number would be 9101 enter that in the final field and submit the kyc details.

 

Masscoinex offers various Fiat/Money deposit and withdrawal methods:

 

Deposit Methods:

1) Credit/Debit Card Payments. (Worldwide) Including Canada & India.

2) Interac e Transfer: (Canada) Only.

3) UPI Payments: (India) Only.

 

Withdrawal Methods:

1) International Wire Transfer: (Worldwide) Including India.

2) Interac e Transfer or EFT Deposit: (Canada) Only.

3) UPI Payments: (India) Only.

4) IMPS/RTGS/NEFT: (India) Only.

*Note (Indian Customers): We don't use Peer 2 Peer (P2P) since it is time-consuming and you need to rely on someone else to have your funds deposited, which we know is very frustrating. So to make it convenient for our (Indian Customers) we do direct and anonymous deposits to your accounts despite the cryptocurrency ban in India. Since our banks are Canadian and it doesn't fall under the R.B.I regulation, (Indian Customers) wouldn't have any problems receiving deposits from foreign businesses, especially when it is anonymous.

Foreign deposits made to individuals in India via remittance companies are TAX FREE

 

Adding a bank account or a withdrawal method is important. The reason being is that, we can't hold fiat/money in an account longer than 365 days according to our law. For any reason if you don't use your account for a maximum of 365 days, we consider such accounts as dormant or inactive, and any available fiat/money that was deposited in the past for buying cryptocurrencies which has remained untouched for 365 days. Will be auto withdrawn and sent to the available method of withdrawal.

Since, we have no other choice. But to obey the law and play by their rules. Therefore, adding a bank account is very important. If this is something you're not comfortable in doing. Then follow the below instruction.

 

How to skip adding a withdrawal method:

Since you decided not to add a withdrawal method. Then in order to skip. Put "N.A". on all the fields and then click submit and when the system prompts you to proceed with kyc verification. Click on "No Cancel". That's it and now you just need to wait for your account to be approved by our accounts department.

All you need to do now is wait. Once your account has been approved you can instantly start buying, selling, sending or receiving over 55+ cryptocurrencies on our platform.

Please be advised this only applies to users, who skipped the "KYC VERIFIFCATION" program. This won't apply to the users in the process of updating kyc documents, because for users who want to update their kyc they must add a withdrawal method or their account will be rejected.

 

Now understanding the method of withdrawals:

Countries except, Canada & India are all limited to bank withdrawals only. Which is why you're being asked to add a bank account. 

Canada: has Interac e transfer method alongside bank withdrawals.

India: has UPI method alongside NEFT, RTGS, IMPS and bank withdrawals.

Rest of the world: Bank withdrawals only. 

 

 

 

In order to configure wallet addresses for your preferred cryptocurrencies.

Step 1: Hover your cursor or click on your "Profile Name" from the top right-hand corner of our website.

Step 2: Navigate to the section, where it says "My Wallet". Now when you click on it you should redirect to the page where you can configure all the wallet addresses of your preferred cryptocurrencies.

Note*: The wallet addresses available there are preconfigured and can not be changed to your desired wallet address. Since these addresses are used for receiving cryptocurrencies in your account only.

 

In order to send cryptocurrencies outside of Masscoinex.com or to an external wallet address of your choice.

Step 1: Log in to your account. From the main dashboard page. Select the "Send" option which is located on the right hand corner beside the coin selection section. In case you don't see it you can hover or click on your profile name from the top right-hand corner of our website. Now navigate to the sections where it says "Buy/Sell/Send/Receive". Now when you click on it you should be on the main dashboard page.

Step 2: Please select the appropriate cryptocurrency before executing a "Send". Now that everything has been take care off. You should be okay to click on "Send" option.

Step 3: Fill in the required information such as "Beneficiary Email", "Beneficiary Wallet ID (Address)" and "Volume".  Agree to the terms & condition and click on "Send Button". That simple!

Note*: Beneficiary email stands for the person who you're sending the coins to, If you're sending it to yourself. Just enter your own email address in that field. You can even use your registered email address, it wouldn't be a problem. We just use the email to update about the coin transfer to your recipient.

 

In order to check your "Coin Balance" or "Cryptocurrency Balance"

Log in to your account. From the main dashboard page. Hover or click on your profile name from the top right-hand corner of our website. Now navigate to the sections where it says "Coin Balance".  Click on it you would redirect to the coin balance section.

 

In order to deposit "Fiat/Money" in to your account. With "Credit/Debit Cards".

Step 1: Log in to your account. From the main dashboard page. Hover or click on your profile name from the top right-hand corner of our website. Now navigate to the sections where it says "Deposit (CAD)". Now when you click on it. You should redirect to a page which would say "Add Amount".

Step 2: Enter an amount of your choice greater than "$15.00" or a minimum of "$15.00". Agree to the terms and condition and click on "Add Funds". Now you would redirect to the billing page where you can use your "Credit/Debit Cards" to deposit "Fiat/Money".

 

Note*: Please enter all your billing details, exactly how it appears on your card. Follow the form correctly and don't miss out Full name, city, state, zip/post code and address. Without this information. Your transaction will be rejected.

 

Credit/Debit Card Declines are normal if it does. Then kindly, don't rush on to making another transaction. Instead, wait until you receive an email from us. Which you would every time immediately when your card declines.

We will send you a reason for the decline and a detail instruction on how you can get the payment authorized. The email would come from our "Support Team".

So we request you to please be patient and keep an eye on your registered email, to avoid complications.