Account Funding In Crypto

Dukascopy Bank accepts crypto assets as funding and withdrawal method for a special type (crypto-fundable) of trading accounts and as an investment funding/withdrawal method for MCA accounts (see Investment delivery and Blockchain Investment deposit). The list of accepted crypto assets includes:

  • Bitcoin (BTC).
  • Ether (ETH).
  • Tether (USDT) − only the ERC20 version based on the Ethereum blockchain (token address).
  • For crypto-fundable trading accounts funding/withdrawals in crypto, the following conditions apply:

    • Deposits to and withdrawals from crypto-fundable accounts are possible only in one of the accepted crypto assets, depending on which of these was selected during account opening.
    • The base currency of crypto-fundable trading accounts is the USD.
    • Deposits and withdrawals are only possible if the validity period of the external blockchain address that the client declared to Dukascopy has not expired (see message signing). Upon expiry, a repeated passing of the Message signing procedure is required to restore access to blockchain deposits/withdrawals.
    • Without further notice to the clients, Bitcoins, Ether or Tether sent by clients to Dukascopy Bank are always converted by Dukascopy Bank into USD. The proceeds of the BTC/USD, ETH/USD and USDT/USD conversion are credited in USD to the crypto-fundable client account.
    • When processing a withdrawal, the Bank debits an amount of USD from the crypto-fundable client account, converts such amount into BTC, ETH or USDT (depending on the selection made during account opening) at the current rate and transfers the Bitcoins/Ether/Tether to the external blockchain address that the client declared to Dukascopy.
    • Withdrawals are only made to the blockchain wallet address declared by the client to Dukascopy.
    • The maximum net cumulative amount (i.e. total deposits less total withdrawals) that can be deposited on a crypto-fundable trading account is USD 500'000 and Dukascopy Bank reserves the discretionary right to apply lower limits, on case by case basis.
    • Every deposit in Bitcoins, Ether and Tether must be made to the unique deposit address generated for the client by Dukascopy for every single transaction. Generated deposit addresses can only be used once. Repeated sending of crypto funds to a deposit address that has already been used may lead to a scrutiny and may potentially end up by making the funds unrecoverable to the clients.
    • Bitcoin, Ether and Tether deposits are not processed instantly. The client must accept the risk of loss due to the fluctuations of the BTC/USD, ETH/USD and USDT/USD exchange rate between the moment he sends BTC, ETH or USDT to Dukascopy and the moment when these are converted into USD by Dukascopy. Likewise, a lag will exist between the moment the client requests a withdrawal in BTC (or ETH or USDT) and when the BTC (or ETH or USDT) is sent to the client by Dukascopy.
    • Deposits and withdrawals in Bitcoin, Ether and Tether are processed only during business days (in the Canton of Geneva, Switzerland).
  • For MCA accounts investment funding/withdrawal in crypto, the following conditions apply:

    • The option to use crypto to open an investment position (more details) in Bitcoin, Ether or Tether is only available to clients that have successfully passed through the blockchain address declaration procedure (see message signing).
    • Deposits and withdrawals in crypto are only possible if the validity period of the external blockchain address that the client declared to Dukascopy has not expired (see message signing). Upon expiry, a repeated passing of the Message signing procedure is required to restore access to blockchain deposits/withdrawals.
    • Every incoming transfer in Bitcoins, Ether and Tether must be made to the unique deposit address generated for the client by Dukascopy for every single transaction. Generated deposit addresses can only be used once. Repeated sending of crypto funds to a deposit address that has already been used may lead to a scrutiny and may potentially end up by making the funds unrecoverable to the clients.
    • The crypto asset sent by the client to the deposit address generated by Dukascopy is automatically converted to the investment reference currency of the account and a BTC, ETH or USDT investment gets automatically purchased right after (standard fees for investment purchase apply).
    • Delivery of the crypto investment position is always made to the blockchain wallet address declared by the client to Dukascopy.
  • The procedure described below is based on the examples from crypto-fundable trading accounts, but except for Step 1 the process is otherwise identical for MCA accounts using crypto as an investment funding/withdrawal method (MCA clients initiate the deposit form from the MCA interface).

    Warning: it is important to follow these instructions because improperly sent Bitcoins will be placed in quarantine and applied special fees. The client can send to Dukascopy only Bitcoins belonging to him.

    1. GENERATE A DEPOSIT ADDRESS

    Log in to your Live Member Area, proceed to "Funds" section and open the Bitcoin deposit form. Indicate the exact amount you intend to deposit during the operation.

    The maximum precision of the Bitcoin deposit amount is 8 decimals.

    The transferred amount should match exactly the BTC deposit amount annonced (plus the micro-transaction part, if applicable). Any mismatch will trigger a scrutiny procedure and may end up with the deposit placed in quarantine.

    Accept the reminders in the form, announce the deposit source (Your declared address or Other address) on the 2nd step of the form and generate the address for your deposit by clicking the “Generate Deposit Address” button.

    2. SEND BITCOINS

    Send the exact Bitcoin amount indicated in the form from your crypto-wallet to the address generated for this deposit operation.

    3. Wait for your deposit to be processed

    Once the transaction is 6 blocks deep, your Bitcoin deposit will undergo a series of checks by Dukascopy, including:

    • Comparison of the expected Bitcoin deposit amount with the actually received one.
    • Comparison of the announced deposit source address with the actual one.
    • Matching of the received amount of Bitcoins against the limits applicable to the account and other compliance considerations.

    4. Provide screenshot(s) of the transaction

    You will receive an email asking to provide a screenshot(s) of the executed transaction seen in your blockchain wallet.

    The screenshot(s) must necessarily contain personal information of the wallet holder (e.g. name/surname, email, address) and at least two of the following elements:

    • The amount and time of the transaction.
    • The wallet address to which the crypto funds were sent.
    • The wallet address from which the crypto funds were sent.
    • The blockchain transaction ID.

    Send the screenshot(s) by replying to the received email, indicating your Dukascopy account number.

    Note that the deposit cannot be finalized until valid screenshots are provided.

    An exception from the requirement to provide transaction screenshot(s) is possible in case if the transaction originates from a wallet address for which a valid proof of client’s power of disposal (control) exists. I.e. either the address has been verified by “message signing” procedure or through “micro-transaction” method.

  • The procedure described below is based on the examples from crypto-fundable trading accounts, but except for Step 1 the process is otherwise identical for MCA accounts using crypto as an investment funding/withdrawal method (MCA clients initiate the deposit form from the MCA interface).

    Warning: it is important to follow these instructions because improperly sent Ether will be placed in quarantine and applied special fees. The client can send to Dukascopy only Ether belonging to him.

    1. GENERATE A DEPOSIT ADDRESS

    Log in to your Live Member Area, proceed to "Funds" section and open the Ether deposit form. Indicate the exact amount you intend to deposit during the operation.

    The maximum precision of the Ether deposit amount is 8 decimals.

    The transferred amount should match exactly the ETH deposit amount annonced (plus the micro-transaction part, if applicable). Any mismatch will trigger a scrutiny procedure and may end up with the deposit placed in quarantine.

    Accept the reminders in the form, announce the deposit source (Your declared address or Other address) on the 2nd step of the form and generate the address for your deposit by clicking the “Generate Deposit Address” button.

    2. Send Ether

    Send the exact Ether amount indicated in the form from your crypto-wallet to the address generated for this deposit operation.

    3. Wait for your deposit to be processed

    Once the transaction is 12 blocks deep, your deposit via Ether will undergo a series of checks by Dukascopy, including:

    • Comparison of the expected Ether deposit amount with the actually received one.
    • Comparison of the announced deposit source address with the actual one.
    • Matching of the received amount of Ether against the limits applicable to the account and other compliance considerations.

    4. Provide screenshot(s) of the transaction

    You will receive an email asking to provide a screenshot(s) of the executed transaction seen in your blockchain wallet.

    The screenshot(s) must necessarily contain personal information of the wallet holder (e.g. name/surname, email, address) and at least two of the following elements:

    • The amount and time of the transaction.
    • The wallet address to which the crypto funds were sent.
    • The wallet address from which the crypto funds were sent.
    • The blockchain transaction ID.

    Send the screenshot(s) by replying to the received email, indicating your Dukascopy account number.

    Note that the deposit cannot be finalized until valid screenshots are provided.

    An exception from the requirement to provide transaction screenshot(s) is possible in case if the transaction originates from a wallet address for which a valid proof of client’s power of disposal (control) exists. I.e. either the address has been verified by “message signing” procedure or through “micro-transaction” method.

  • The procedure described below is based on the examples from crypto-fundable trading accounts, but except for Step 1 the process is otherwise identical for MCA accounts using crypto as an investment funding/withdrawal method (MCA clients initiate the deposit form from the MCA interface).

    Warning: it is important to follow these instructions because improperly sent Tether will be placed in quarantine and applied special fees. The client can send to Dukascopy only Tether belonging to him.

    Only one version of USDT token is accepted. It is the Tether ERC20 token based on the Ethereum (ETH) network (token address).

    All other USDT versions or its analogues will not be processed. For technical reasons such tokens may appear to be irrecoverable and you risk a complete loss of the wrong tokens sent. Dukascopy does not assume any responsibility for such an eventual loss.

    1. GENERATE A DEPOSIT ADDRESS

    Log in to your Live Member Area, proceed to "Funds" section and open the Tether deposit form. Indicate the exact amount you intend to deposit during the operation.

    The maximum precision of the USDT deposit amount is 6 decimals.

    The transferred amount should match exactly the USDT deposit amount annonced (plus the micro-transaction part, if applicable). Any mismatch will trigger a scrutiny procedure and may end up with the deposit placed in quarantine.

    Create the Ethereum blockchain address for your deposit by clicking the “Generate a USDT deposit address” button.

    2. Send Tether

    Send the exact Tether amount indicated in the form from your crypto-wallet to the address generated for this deposit operation.

    3. Wait for your deposit to be processed

    Once the transaction is 12 blocks deep, your Tether deposit will undergo a series of checks by Dukascopy, including:

    • Comparison of the expected Tether deposit amount with the actually received one.
    • Comparison of the announced deposit source address with the actual one.
    • Matching of the received amount of Tether against the limits applicable to the account and other compliance considerations.

    4. Provide screenshot(s) of the transaction

    You will receive an email asking to provide a screenshot(s) of the executed transaction seen in your blockchain wallet.

    The screenshot(s) must necessarily contain personal information of the wallet holder (e.g. name/surname, email, address) and at least two of the following elements:

    • The amount and time of the transaction.
    • The wallet address to which the crypto funds were sent.
    • The wallet address from which the crypto funds were sent.
    • The blockchain transaction ID.

    Send the screenshot(s) by replying to the received email, indicating your Dukascopy account number.

    Note that the deposit cannot be finalized until valid screenshots are provided.

    An exception from the requirement to provide transaction screenshot(s) is possible in case if the transaction originates from a wallet address for which a valid proof of client’s power of disposal (control) exists. I.e. either the address has been verified by “message signing” procedure or through “micro-transaction” method.

  • Due to the intrinsic anonymity of crypto transactions, Dukascopy Bank may place in quarantine incoming Bitcoins/Ether/Tether when the following circumstances occur:

    • Bitcoins/Ether/Tether are sent to an address which was already used;
    • A wrong amount of Bitcoins/Ether/Tether was sent to the deposit address (i.e. not corresponsinf to the expected one);
    • Dukascopy cannot accept the received Bitcoins/Ether/Tether for any other reason, e.g. if it has information suggesting that sent Bitcoins/Ether/Tether belong to a third party;
    • Safekeeping fees apply to Bitcoins/Ether/Tether placed in quarantine;
    • To obtain the return of Bitcoins/Ether/Tether in quarantine, the client must provide Dukascopy with convincing evidences that the wallet from which the funds were sent do actually belong to him. Dukascopy reserves the right to require the client to visit one of its offices for meeting Dukascopy's representatives.
  • For withdrawals from crypto-fundable trading accounts:

    1. Make a withdrawal request

    Log in to your Live Member Area, proceed to "Funds" section and open the withdrawal form. Indicate the desired withdrawal amount in USD and confirm the operation.

    2. Wait for your withdrawal to be processed

    Withdrawals are processed only during business days in the Canton of Geneva, Switzerland.

    Dukascopy will convert into BTC (at its own BTC/USD rate), ETH (at its own ETH/USD rate) or UDST (at its own USDT/USD rate) the requested withdrawal amount indicated in the base currency of the account (USD). Withdrawals are subject to a flat commission in accordance with the Fee schedule.

    Dukascopy will send the Bitcoins, Ether or Tether the blockchain wallet address declared by the client to Dukascopy.

    The client must understand and accept that the withdrawal process is not instant and that the BTC/USD, ETH/USD or USDT/USD exchange rate will fluctuate until Dukascopy completes the exchange. Consequently, the client cannot predict the exact amount of Bitcoins, Ether or Tether he/she will receive in his/her wallet pursuant the withdrawal

    For withdrawals from MCA accounts, refer to the FAQ clause on the investment delivery to the blockchain.

Get more information about all crypto services provided by the bank.

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