To start trading on Monfex you must fund your account. Funding your account is fast, easy and can be done right on your Monfex web or mobile platform.
Fund with Bitcoin, Ethereum and Tether
You can fund your Monfex account with Bitcoin, Ethereum and Tether. The minimum deposit is .001 BTC. If Bitcoin is valued at $4000 then .001 BTC is equal to $4.
How to get cryptocurrency if you don’t already have it
If you don’t already have either Bitcoin, or Ethereum, or Tether, you need to get it in order to make a deposit into your Monfex account. Luckily, buying Bitcoin, Ethereum and Tether is a fast and simple process. Check out our step-by-step tutorials on how to easily buy cryptocurrency:
Depositing crypto to your Monfex Account
In the top left corner of the trading platform choose an account with a preferred cryptocurrency, in which you would like to make a deposit. You can choose Bitcoin (BTC), Ethereum (ETH) or Tether (USDT) as your account currency.
Once you have your crypto in your wallet, you need to deposit it to your unique Monfex deposit address to fund your account.
Your unique deposit address is automatically generated when you create your Monfex account. It is a wallet address that is unique only to you.
Once you send crypto to this address, it will be credited to your account balance.
Find your unique deposit address
To find your unique deposit address log into your platform and click the deposit button at the top right-hand corner.
Once you click on the deposit Button, you will see your unique deposit address in the deposit box.
Copy the address into your wallet
Copy your unique deposit address by clicking the copy button on the deposit page, or you can scan the QR code in the deposit box with your phone.
The QR code is the box of lines that is also unique only to your account.
Send crypto to deposit address
If you are depositing Bitcoin, once you copied the address, you need to open your BTC wallet
Your BTC wallet will have a SEND or PAY button.
Upon clicking one, there will be a field to enter a recipient address. That's where you need to paste your unique deposit address.
Double check that the address you paste matches your unique deposit address perfectly. Once you do, proceed to send the BTC in your wallet.
If you are depositing Ethereum or Tether, the process is similar.
Crypto will be credited into your account
Once you click SEND, please allow the Bitcoin, Ethereum or Tether network (depending on which cryptocurrency you are sending) and our system to process your transaction. This should take no more than 30 minutes.
Once the transaction is processed you will see your balance go up by the amount that you funded. We do not charge any deposit fees. The only fee that you may incur is the small transaction fee that may be charged on the Bitcoin, Ethereum or Tether network.
Crypto will be held in cold storage
Your unique deposit address is part of our institutional wallet. This wallet uses extremely high-security measures to protect your money.
However, we take it even one step further. Upon receiving your deposit, we automatically move it into cold storage. This means that no one can access the crypto balance that we are holding for you without special hardware. It tremendously mitigates the risks of hacking.