FAQ – Bitfin

Bitfin

How do I register for an account?

Registration is quick and easy! Simply go to www.bitfin.io, use your email address, choose a password and click on Open Account.

How can I provide my documents?

You click on the icon next to your name in the top right-hand corner, select My Documents and proceed to selecting which documents you would like to upload.

Does Bitfin.io accept clients from all countries?

We do our best to accommodate clients from all countries. However, some restrictions may apply. Currently, we do not accept clients from the Algeria, Bahamas, Bahrain, Bangladesh, Bolivia, Botswana, Cambodia, China, Colombia, Democratic People’s Republic of Korea (DPRK), Dominican Republic, Ecuador, Egypt, Ethiopia, Ghana, Indonesia, Iran, Iraq, Jordan, Kuwait, Kyrgyzstan, Lesotho, Lithuania, Macau, Morocco, Nepal, Oman, Pakistan, Qatar, Saudi Arabia, Serbia, Sri Lanka, Syria, Taiwan, Thailand, Trinidad and Tobago, Tunisia, United States of America.

What is the client questionnaire and why do I need to complete this?

The Client Questionnaire is very simple and quick to complete. We use it to assess your experience and knowledge regarding the risks involved and to help us understand your needs in order to provide the best experience possible. As a licensed Crypto Exchange we are obliged by law and do indeed keep your data safe.

How do I get started?

To get started you first need to register for an account using your email address. Then you will have to complete the Client Questionnaire and upload your Identification Documents for verification. Our team will review your registration details and documents and inform you via email once all the information has been verified.

What documents do I need to provide for my account verification?

To verify your account, clear copies of the following documents are required:

  • Proof of Identification: A colour copy of a valid passport, government-issued photo ID card or a photocard Driver’s Licence.
  • Proof of Residence: Copy of a utility bill, bank statement, local authority tax bill, bank reference letter (from the country you live in), Fixed (land) line telephone or internet bill or any official document with your full name and address, issued within the last three months.

Why do you request a TIN (Tax Identification Number)?

A TIN number is required from all our clients in accordance with the CRS (Common Reporting Standard). All licensed exchnages are required to obtain your TIN number. If you have a TIN issued by more than one country, we kindly ask that you provide all the TIN numbers you have been issued with.

When do I have to provide my documents?

Documents should be submitted once you have completed our Client Questionnaire. In accordance to legislation we need to have your documents and verify your identity prior to any transaction taking place

What can I do if my utility bills are not in my name?

If your utility bills are not in your name, then please go ahead and send us your very latest bank/credit card statement. If you are still not sure of what to send, please feel free to contact us via live chat, phone or email

Are there any age restrictions on opening a trading account with Bitfin.io?

In accordance with the law, our clients must be at least 18 years of age to be able to open an account.

Why have I been asked to provide additional documents?

You may have been asked to provide additional documents due to your country of residence or the nature of the documents you have already submitted.

Why was my document rejected?

Your document may have been rejected for various reasons.The most common reasons for rejecting a document include:

  • The document you submitted is out of date (your ID document is no longer valid, or your proof of address was issued to you more than 3 months ago);
  • The information was not clearly visible in the image you provided.
  • In such cases, we suggest you contact our Customer Support team for more information.

How will I know that my documents are verified?

Once documents are verified, the status next to each document listing in the My Documents section will be updated to Verified and an automatic email will be sent to you.

How long does it take to process my documents?

Processing your documents usually takes a few minutes. We try to process all our clients’ documents within one business day at the very latest.

Can I reopen a closed account?

If you would like to reopen a closed account simply email us at cs@Bitfin.io or create a new account.

Can I close my account?

Of course. If you wish to terminate your account all you have to do is email cs@bitfin.io, from the email address you used when registering, requesting that the account be closed.

Can I open a Joint account?

Yes, of course. To open a joint account please email cs@bitfin.io.

I have forgotten my password what do I do?

If you have forgotten your password, simply click on Forgot Password in the login window and follow the steps to regenerate a new one.

Can I update my personal information?

Yes, you can. If you would like to change your personal information in your account you can do so by going to the drop-down menu, which appears next to your name in the top right-hand corner of the platform, and select Account Info. From there you can choose what sections you would like to change information in.

How can I cancel my deposit?

To cancel a deposit with Bitfin.io, simply go to Transfers, choose the transaction you want to cancel, and if it is still in Pending mode you can click Cancel otherwise simply request a withdrawal.

What is a “Virtual Currency” or “Cryptocurrency”?

A crypto or virtual currency, also known as Cryptocurrency, is a type of digital currency. Cryptocurrencies are not issued by any centralized authority or government. They are created, or “mined”, by computers that solve complex mathematical problems by validating transactions within what is known as a blockchain. A blockchain is basically a growing list of records created with every new transaction added. As each transaction takes place the mathematical problem becomes more complex and increases the size of the blockchain.

Which digital currencies does Bitfin.io Support?

Bitfin.io supports more than 50 digital currencies. You can view which crypto pairs Bitfin.io offers by navigating through the left part of the platform where you can see the different coins.

Can I buy Cryptocurrencies with FIAT (USD/EURO) money?

Yes, with Bitfin.io you can buy major cryptocurrencies like Bitcoin, Ethereum, Dash, Litecoin, Ripple and many more with FIAT (USD/EURO) currencies like EUR and USD.

Are Cryptocurrencies regulated?

Cryptocurrencies are decentralized blockchain based currencies. Currently, no central bank has issued any regulation on any certain Cryptocurrency. Nevertheless, Bitfin.io under Z&A Exchane OU is fully compliant with our FIU regulation and ensure we Fulfill all our regulatory obligations regarding the products and services offered to our clients. If any new measures are announced by our regulator, we make sure we implement these immediately, as well as notify our clients of any imminent changes.

What are the fees for buying/selling Cryptocurrencies?

At Bitfin.io, we do not charge any monthly or annual fee to use our Services and/or for account maintenance, nevertheless there is a dormant account fee of €100. Accounts are classified as Dormant if they remain inactive for a period of 3 months.
a. Exchange Fees
The exchange rate for exchanging Cryptocurrencies through your trading account is determined by our spread for each Cryptocurrency, and is influenced by the size of your transaction, market volatility and other market conditions.
We do not charge any fee (commission) in the case of an exchange of FIAT (USD/EURO) currency to Cryptocurrency, or Cryptocurrency to FIAT, and the exchange rate as it appears on the Bitfin.io Exchange platform includes our spread.
A 1% fee (commission) however is charged in the case of an exchange from one Cryptocurrency to another Cryptocurrency.
All fees and exchange rates will be disclosed to you, when possible, prior to the execution of any transaction.

b. Transfer Fees
Transfers of Cryptocurrency to or from Bitfin.io Virtual Wallets to external Virtual Wallets incur network transaction fees, miners’ fees and other processing fees. We charge a standard 0.2% fee per transaction to cover such costs.
Minimum transfer fees will apply by default when sending Cryptocurrencies to an external wallet, as follows:
Bitcoin (BTC) – ฿ 0.0007
Ether (ETH) – Ξ 0.0007
Ripple (XRP) – Ʀ 0.03
Stellar (XLM) – 0.00005
Litecoin (LTC) – Ł 0.0015
Dogecoin (XDG) – Ð 3
Zcash (ZEC) – ⓩ 0.0002
Iconomi (ICN) – ICN 0.3
Augur (REP) – Ɍ 0.02
Ether Classic (ETC) – ξ 0.01
Melonport (MLN) – M 0.005
Monero (XMR) – ɱ 0.07
Dash (DASH) – Đ 0.01
Dash Instant – Đ 0.015
Gnosis (GNO) – Ğ 0.015
Tether (USDT) – USD₮ 7
EOS (EOS) – Ȅ 1.00000
Bitcoin Cash (BCH) – ฿ 0.0002
Please note that all fees and exchange rates will be disclosed to you, when possible, prior to the execution of any transaction.

What FIAT (USD/EURO) currencies does Bitfin.io Exchange accept?

Bitfin.io accepts EUR and USD.

How do I exchange one Cryptocurrency for another Cryptocurrency?

Once you have available balance in any of your Bitfin.io Wallets, you can exchange one cryptocurrency for another. To do this simply enter the amount, the cryptocurrency you wish to exchange it to and click EXCHANGE.
A pop-up message will appear asking you to confirm the exchange you are about to execute. Click CONFIRM to continue.

Can I exchange FIAT (USD/EURO) currency to another FIAT (USD/EURO) currency?

Currently you cannot exchange one FIAT (USD/EURO) currency for another via Bitfin.io.

What is the minimum amount for exchange or transfer Cryptocurrencies?

The minimum amounts are as below:

  • Augur (REP): 0.3
  • Bitcoin (XBT): 0.011
  • Bitcoin Cash (BCH): 0.011
  • Dash (DASH): 0.035
  • Dogecoin (DOGE): 3500
  • EOS (EOS): 35
  • Ethereum (ETH): 0.021
  • Ethereum Classic (ETC): 0.35
  • Gnosis (GNO): 0.035
  • Iconomi (ICN): 5
  • Litecoin (LTC): 0.11
  • Melon (MLN): 0.11
  • Monero (XMR): 0.15
  • Ripple (XRP): 30
  • Stellar Lumens (XLM): 350
  • Zcash (ZEC): 0.035
  • Tether (USDT): 10

For example, if you are trading BTC, the minimum exchange deal must be 0.011.

Can I cancel a transaction?

To cancel a transaction, go to Transfers, select the transaction and see its status. If it is still in ‘Pending’ status you can cancel it.

Why is my external wallet not verified?

Perhaps you forgot to verify it. To do so please click on the drop-down next to your name in the top right-hand corner, click on My Documents and complete and digitally sign the Online Form which can be found under the Crypto Wallet Declaration section.

When I try to add my external wallet’s address it tells me it is already registered, why?

Each wallet’s address is unique and can only be registered once. You can view all your verified wallets in the Account Info section of your Bitfin.io account.

Can I add funds to my account from my friend’s Crypto wallet?

No. Any funds you wish to deposit in your Bitfin.io wallets must originate from a Crypto wallet belonging to you.

I don’t have an external Crypto wallet to withdraw my Cryptos, can I withdraw them into my friend’s Crypto wallet?

Withdrawals can only be transferred to a Crypto wallet in your name.

How can I fund my account with Cryptocurrency?

To fund your Bitfin.io account with Cryptocurrencies, please verify first the external wallet you will be using.
To do this, go to the drop-down menu on the top right-hand corner of the Exchange platform, click on ‘My Documents’ and add the wallet’s address and then digitally sign the Online Form, which can be found under the Crypto Wallet Declaration section.
The Online Form has to be verified before any transfers can be executed. Transfers from already verified wallets will not require you signing the Online form again.
Once your external wallet has been verified you can choose which wallet you want to fund from My Wallets in Bitfin.io, click Receive, COPY the address and then go to your external wallet and paste that address so that the transfer can begin.

Following execution of the transfer from your external wallet please send us a screenshot to cs@bitfin.io of your external Virtual Currency Wallet showing the following information:
⦁ Wallet Name
⦁ The amount of Virtual Currency sent
⦁ Transaction ID
⦁ Wallet address of the wallet the funds are being send from
⦁ Wallet address of the wallet that the funds are being transferred to

How can I fund my account with a FIAT (USD/EURO) currency?

To fund your Bitfin.io account with a FIAT (USD/EURO) currency simply go to My Wallets, select the wallet you would like to fund and click on deposit.
A new window will appear where you will have to choose your deposit method, and complete the form below, including the amount you would like to transfer. Then you simply click ADD FUNDS.

How do I transfer Cryptocurrency from my Bitfin.io wallet to my external wallet?

To transfer cryptocurrency from your Bitfin.io wallet to an external wallet you first have to verify the external wallet you will be using if you haven’t verified yet.
To do this you have to go to the drop-down menu on the top right-hand corner of the Bitfin.io Exchange platform, click on ‘My Documents’ and add the wallet’s address and then digitally sign the Online Form, which can be found under the Crypto Wallet Declaration section.
The Online Form has to be verified before any transfers can be executed. Transfers from already verified wallets will not require you signing the Online form again.
Once your external wallet has been verified you can choose which wallet you want to transfer from and click Send. A new window will open where you can insert the Amount, select the external wallet address you want to transfer cryptocurrency to, and press Send.

Are there any limits of transferring Cryptocurrency to my Bitfin.io account?

You can deposit up to 9,999 EURO or equivalent per month, from the following Cryptos:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Gnosis
  • Litecoin
  • Augur
  • Stellar Lumens
  • Monero
  • Ripple
  • Zcash
  • Ethereum classic
  • Melon
  • Iconomi

Are there any limits to transferring Cryptocurrency from Bitfin.io?

No, there is no limit as to how much Cryptocurrency you can transfer from your Bitfin.io Wallets to your external wallets.

I have funded my Crypto account, why is it telling me my external wallet needs to be verified?

Although your Bitfin.io wallets don’t need verifying, if you are trying to transfer to an external wallet that must be verified before any transfer can take place.

What deposit methods do you offer and how do I deposit with each method?

At Bitfin.io funding your account is easy, quick and safe! On top of that, we offer various funding methods for you to choose from, including Credit/Debit Card.
Before making a deposit to your Bitfin.io Account, please select the FIAT (USD/EURO) wallet you would like to fund and then choose the method from the pop-up window, which will appear.
Below we explain the steps you need to follow for each FIAT (USD/EURO) funding method like
Bank Transfer
To deposit via bank transfer, you need to contact your bank and request for the wire transfer to be sent to Z&A Exchange OU. All our banking details can be found in the Deposit section -> wire transfers. As soon as your funds arrive to our bank your Bitfin.io account will be credited accordingly. Please remember to write in the wire transfer description your name and account number.
Note: For bank wire transfer deposits please send us a copy of the transfer confirmation (swift) and sign our online Authorisation of deposit via wire transfer Form located in My Documents section
Credit/Debit Card
Bitfin.io accepts all major Credit/Debit Cards including Visa, MasterCard and Maestro. To deposit using your credit or debit card, log in to Bitfin.io, select your wallet and click on Deposit. In the new window that will appear you should select the Credit/Debit card tab. You then have to enter the amount, your card number, full name, card expiry date and the CVV2 code (our system will detect your card provider automatically). Once you click Add Funds, your deposit will be processed and your account will be credited automatically. Note: For Deposits via Credit/Debit Card you should upload a clear colour copy/photo of the front and back of the card with all four corners visible as well as a) your name, b) expiry date, c)  first 6 and last 4 numbers of the long card number, and d) your signature at the back. Don’t forget to hide the CVV code at the back and sign our online Authorisation of deposit via CC Form located in My Documents section.

Which currencies can I use to deposit?

You can deposit using USD and EUR.

Can I deposit as soon as I open an account with Bitfin.io?

You can deposit and purchase Cryptocurrencies as soon as your account gets verified by us.

Are there any limitations as to how much I can deposit?

There is a 2000 EUR limit until the completion of the verification process, after the account is fully verified there are no limitations.
*More documents might be required for deposits exceeding the amount of 40,000 EUR.

How long does it take to process my deposit?

If you have made a deposit using a credit/debit card, your funds are processed immediately, and you can start right away.

Bank transfers can take a few business days to reach our accounts.

If you experience any difficulties, please don’t hesitate to contact our support team at cs@bitfin.io or live chat with us.

Does Bitfin.io charge any transaction fees?

Yes, some transaction fees apply whereby the net amount received will be deposited to your account.

Where do I see the balance of my account?

Your balance can be viewed right at the top of the platform you are using. At Bitfin.io, you can also view the balance of each of your individual wallets.

What information do you need to see on my credit card copies?

When sending us your credit/debit card copy make sure the following are clearly visible:

  • Cardholder’s name
  • Issuing bank
  • The first 6 and last 4 digits (numbers) of the long bank card number
  • Expiry date
  • Cardholder’s signature

Why was my credit/debit card declined?

Your credit/debit card may have been declined for any of the following reasons:

  • Your card is not authorised for online transactions
  • You may not have enough funds in your card
  • You have exceeded your limit
  • Your card is not authorised for international transactions
  • Your card is not open for online transactions

In any of these cases, it is always advisable to contact your payment institute to receive more details.

How can I cancel my deposit?

To cancel a deposit with Bitfin.io, simply go to Transfers, choose the transaction you want to cancel, and if it is still in Pending mode you can click Cancel otherwise simply request a withdrawal.

Will I receive a receipt for my credit card deposit?

Yes. Once you make a deposit, a unique ID for the transaction is generated and emailed to you. You can also view the exact date/time and amount/currency of all your transfers in the Transfers section. Should you have any questions concerning your transaction details, please feel free to contact us.

Can I deposit from different credit cards in the same trading account?

Yes, provided that all the cards are in your name, as we need to ensure all funds are coming from you. In addition, we would require copies of any cards used to fund your account.

Can someone else deposit to my account?

Only the legal owner of the account is allowed to make any type of transaction in the account.

What are SWIFT or BIC codes and how can I obtain them?

SWIFT (Society for Worldwide Interbank Financial Telecommunications) and BIC (Bank Identification Code) codes are the unique international codes used to identify your bank. These are usually written on a bank statement. If you cannot retrieve yours, you can contact your bank directly and ask for them.

My bank doesn’t have an IBAN. What can I provide?

Not all banks use an IBAN (International Bank Account Number). Instead, some may use a SWIFT or BIC code and an account number. If your bank doesn’t use an IBAN then please provide us with your bank account number and your bank’s BIC or SWIFT codes.

When can I withdraw my funds?

All funds in your account belong to you and can be withdrawn by you at any time by simply following our withdrawals procedure.

How can I withdraw my funds?

To withdraw funds from Bitfin.io you firstly have to select the wallet you would like to withdraw from and click on withdraw. A new window will appear where you can choose your withdrawal method, enter the amount and any other details required.

How long does it take to receive my funds?

Once we receive your request, we begin processing it immediately. Usually, withdrawal requests are processed within maximum 24 hours of being received.
However, please note, that once the funds have left your account, it may take a few days for them to reach you, always depending on the withdrawal method used.

How do I cancel a withdrawal?

To cancel a withdrawal with Bitfin.io, go to Transfers, select the transaction and if it is still in Pending status, you can simply click Cancel.

Can I withdraw to a different source than the one I used to make my deposit?

Withdrawals are usually transferred back to the original source of your deposit. If you are unable to withdraw back to the same deposit source, please contact us via Live Chat or send us an email to cs@Bitfin.io.

Is there any limit to the amount I can withdraw?

There is no limit to the amount you can withdraw provided that the funds you are requesting to withdraw are available in your account.

Do you charge withdrawal fees?

Bitfin.io does not charge any withdrawal fees for withdrawals via credit/debit card and e-payment methods. However, a €10 bank fee will be applied for any withdrawals transferred from our bank to you via wire transfer.

What should I do if I haven’t received my withdrawal?

In the unlikely event you haven’t received your withdrawal by bank transfer within three business days (in case of credit/debit card it could take up to ten business days), simply let us know and we will do everything we can to assist you in locating your funds. If you notice anything unusual, please contact our client relation’s team at cs@Bitfin.io. We will make sure to keep you updated.

My card has been replaced, how can I withdraw funds back to a card I no longer have?

Even if your bank has replaced your card, only the card changes – the account which that card is linked to remains the same. When we process your withdrawal request we send funds back to the account the funds came from.

Who is Bitfin.io?

Bitfin.io is owned and operate by Z&A Exchange OU a duly incorporated Estonian private limited company with registration number 14506364 and Registered Address at Kaarli pst 1 // Roosikrantsi tn 2-K291, Harju maakond, Kesklinna linnaosa, 10119 Tallinn, Estonia, licensed and regulated by the Estonian Financial Intelligence Unit with License numbers FVR000336 / FRK000279. For further information please contact cs@bitfin.io.
Bitfin.io was launched to provide an exceptional crypto exchange experience to clients looking for a fast verification process, superior liquidity, a regulated environment, as well as a user-friendly and intuitive crypto platform. With Bitfin.io our mission is to change the way Cryptocurrencies are exchanged, stored and traded.

Is Bitfin.io Regulated?

Yes. Bitfin.io is owned and operated by Z&A Exchange OU. Z&A Exchange OU is licensed and regulated by the Estonian Financial Intelligence Unit (FIU). Bitfin.io works tirelessly to ensure it complies with all applicable laws and regulations.

Is Bitfin.io safe?

Bitfin.io takes security and protection of its clients very seriously. As a regulated Crypto Exchange and Crypto Wallet Service Provider we are obliged to offer EU standards of security to all our clients. In addition we only work with reputable liquidity providers.

How can I contact Bitfin.io?

Wherever you are in the world, we’re just an email or phone call away.

Email: info@bitfin.io

Phone No:
Estonia            +3726346435
UK                   +442039948857
UK Toll-Free    +448000903160
Switzerland     +41225000833

Live Chat: Available on every page of our website.
You can also request a callback by completing the “Contact Us” form available in our Contact Us page or any other page on our website.

Working Hours

Although our platform is available 24/7 365 days a year for you to perform exchange transactions
some functions are performed in according to the below timetable:

Verification of Account/Documents
Monday – Thursday from 09:00 – 20:30
Friday from 09:00 – 18:00

Withdrawals to External Wallets
Monday – Thursday from 09:00 – 20:30
Friday from 09:00 – 18:00

Live Chat Support
Monday – Thursday from 09:00 – 20:30
Friday from 09:00 – 18:00