How Do I Fund My Account? (And Other Funding Related Questions)

Funding your account is very simple and there are a few methods to do so. It all starts with heading to the navbar and selecting the "down arrow" icon to reach your funding options. From there you can select your method: via debit/credit, with crypto, or via wire transfer.

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Funding With Your Debit/Credit Card

1. Select "via credit/debit card"

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2. Add your payment details and be sure to accept "Wyre's user agreement." Then "review payment" and "confirm payment." There are some details you should be aware of which are listed in the FAQ's section below.

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Funding With Crypto

Funding your account with crypto starts with the same process though has a few different follow up steps. This article here describes the process of getting BLKX from MetaMask to your exchange wallet: How to get BLKX Tokens from Metamask to your MyBlockX account

The process of receiving any other crypto from any other wallet is identical to the process listed above, minus the MetaMask portion of the article. 

 

Funding Via Wire Transfer

This function is coming to the exchange shortly.

 

FAQ's

My Payment Was Declined

If your payment was declined when attempting to fund your account, make sure you call bank to make sure they approve the transaction on the bank level. Being crypto, banks tend to flag these types of transactions.

 

How Much Can I Fund My Account With?

Currently, US exchange users are limited to funding $500 USD per week, and International exchange users to $1000 per week. Obviously, this is a low limit for many. However, we will be rolling out some additional steps for account verification that will allow you process up to $7500 per week, giving you a much greater limit to on-ramp USD onto your account. Please stay tuned for those details.

 

How Much Are Fees?

When Depositing Crypto into your Exchange Wallet there are zero fees whether it's from MetaMask or another crypto wallet (unless of course there is a withdrawal fee from another exchange you are sending from). With MyBlockX you are fee-free to deposit crypto.

 

When Depositing Fiat via Credit/Debit card the payment processor charges 4% for each transaction, with a minimum of $5 per transaction. For this reason, it is recommended to make larger funding transactions to save on fees. Because your payment is processed as USDC (currently ERC20), there is also gas fees included in your payment. Thankfully, we will eventually be processing in an alternative stable-coin in a different network, allow us to minimize if not completely eliminate the gas fees associated with on-ramping.

 

When Depositing via Wire Transfer (coming soon)

 

If you experience any issues outside of what is listed above, please reach out to support@myblockx.com

 

 

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