FAQ

We have compiled a list of answers to the most burning questions made by our users. Should you
have any other questions, feel free to address them by phone, e-mail, or in our live chat. We are working for you 24/7.

How can I verify my account?

To verify an account on our platform, you will need to contact the Customer Support and provide certain documents to verify your identity.

What documents do I need to send to get my identity verified?

In order to verify your account you must provide to GE the following documents:

Identification Document:

  • Passport – A clear Passport Full Copy (4 corners and MRZ(machine-readable zone) lines)
  • OR
  • Identification Card (“ID”) AND Driving License (“DL”)

Notes: For EU clients an Identification Card ONLY is sufficient.

Proof of Residence:

A document that was issued to your name, issued within the last 3 months where it shows your current residence.

Such documents are:

  • water bill
  • electricity bill
  • bank statement
  • bank reference letter
  • tax bill
  • municipality bill

Notes: Documents such as: Mobile phone bill, insurance statement, electronically generated documents are not accepted.

For Credit card deposits GE asks for:

  • Front copy of the credit card, where the first four and last four numbers, the name, expiration date recognized.
  • Back copy of the credit card with CVC covered.

Note: All four corners of the credit card must be within the picture.

Can I register for a business account?

Yes, you can register as a legal person on our platform.

How long does it take to verify my account?

The account verification procedure usually takes between 1 to 3 business days.

Can I send an electronic bank statement?

Yes, the electronic bank statement is acceptable if it has a bank approval stamp.

Can I use a credit card that’s issued with another person’s name on it?

If you and the cardholder sign a Credit Card Authorization Form, it is possible to use the credit or debit card issued on another person’s name.

My account was rejected. Why?

There could be quite a few reasons why the account verification failed. To clarify your individual case, please contact our Customer support.

I forgot the password to my account. What should I do?

Click Forgot Password? on the login page and type in the email that you registered with your account. We will send the password reset link and you’ll be able to set up a new password. If you do not remember the e-mail that you registered with, please contact our Customer Support.

Do I need to download any software to start using your services?

No, all our services are available online via any Internet browser.

My Internet went out when placing an order. Was it processed?

If our servers receive the request, your order will proceed even if the confirmation page won’t load on your device.

Why don’t I receive your e-mails?

Our newsletters might have been mistakenly placed into a Spam folder. If so, please mark one of them as no-spam and put us in your contacts list.

Why is your website unavailable in my country?

Your IP address might be located in a country that is identified as a high-risk country according to the AML act. For more details and the list of the high-risk countries, please visit our AML/KYC page.

What payment options do you provide?

Our payment options are Bank Wire Transfer, Visa, and MasterCard credit cards.

How can I deposit/withdraw fiat money from your platform?

Log into your account and go to the cashier section at our platform. You will see the available options for deposit/withdrawal. Follow the instructions on the screen to complete the operation.

How fast will I get my withdrawal?

Bank transfers usually take 3-5 business days while credit card transfers proceed instantly.

Do you have any commission fees for the transactions?

Please, visit our Fees page for more information

Do I need to purchase a paid subscription for your services?

No need for paid subscription to use our services, but we offer a subscribed status for volumes exceeding 500,000 eur/month.

I’ve lost the credit/debit card that I registered with my account. What should I do?

Please contact your bank and request a credit card statement from that card showing your name.

  • Are there any minimum and maximum deposit amounts or daily/monthly limits?
  • Can I enhance my limits as a legal person?

For larger volumes of transactions our banks will require additional documents.

Am I eligible to register on your website?

Our Exchange does not provide services to traders banned at other similar websites as well as traders from restricted and sanctioned countries. For the full list of restricted countries, please visit our Legal page.

How is your Exchange regulated?

GreenElephant OU holds a license FVT000066 for providing a virtual currency service, issued by Estonian Financial Intelligence Unit.

Are my crypto funds taxable?

The cryptocurrency taxation depends on the country of residence of each customer.

What is AML/KYC?

AML (Anti-Money Laundering) and KYC (Know Your Customer) are sets of rules that apply to our services to prevent unlawful activities by traders. They include security measures to ensure that there are no suspicious activities that might potentially harm the operation and safety of our users.

How can I be sure that my personal information is secured?

We use 256-bit SSL encryption with an extra encrypted level for the ultimate security of personal and financial data.

Why do I need to provide my personal documents?

Due to the newest FATF (The Financial Action Task Force) international regulations applied to all online financial services providers like our cryptocurrency exchange, the identity verification phase is compulsory in order to prevent financing of terrorism and money-laundering. These measures also ensure that you trade in a safe environment with fair and transparent conditions.

I am a politically exposed person. Can I be sure of my privacy when using your services?

Unfortunately, at the moment we do not accept transactions from politically exposed persons (PEP) or persons anyhow linked with PEP.

Why was I requested to provide additional documentation and information?

Additional information like proof of wealth for the transactions higher than €15,000 and enhanced due diligence procedure is required in cases specified in the AML policy.

Can other people access my account with my consent?

No, performing transactions is possible only by a person who registered the account and provided their personal documents for verification.

What is a cryptocurrency?

A cryptocurrency is a type of currency where encrypted files are used instead of cash. It’s a decentralized technology meaning that the transactions of cryptocurrency do not depend on financial institutions like banks.

What is bitcoin?

Bitcoin is a cryptocurrency introduced in 2009. Bitcoins are exchanged via blockchain technology which allows this type of money to be independent of fiat currency shifts.

What is ethereum?

Ethereum is the second most popular cryptocurrency besides Bitcoin. Ethereum is provided on the basis of the Ethereum Virtual Machine, a decentralized system of public nodes.

What is tether?

Tether is a cryptocurrency issued by Tether Limited. It was previously stated that tether tokens were backed by the US dollar but this information wasn’t confirmed.

Do you accept any other cryptocurrencies?

Please, contact our Customer Support for the updated list of available cryptocurrencies.

Who decides cryptocurrency prices?

Unlike fiat currencies, cryptocurrencies are not issued by banks of certain countries, therefore, their rates are independent of factors like economic growth. Instead, cryptocurrency rates are mostly determined by supply and demand.

How do you formulate the currency exchange rates?

We are using the software of the world’s leading liquidity providers and state of the art data aggregation algorithms that ensure the fast and accurate delivery of cryptocurrency rates.

What is a cryptocurrency exchange?

A cryptocurrency exchange is an online service where users can buy and sell cryptocurrencies by exchanging them for either real currencies or other cryptocurrencies.

How can I be sure that your quotes are fair?

We use dynamic blockchain-aware market surveillance systems that ensure fair quotations. Moreover, our set of compliance regulations provides that our exchange is free from fraudulent actors that are subject to sudden drains of cryptocurrency which might affect the exchange quotes.

How can I buy cryptocurrency on your platform?

First of all, you need to fill in the sign-up form and register your account with our platform. Then, you’ll receive the confirmation email. Make sure you verify your identity by contacting our Customer Support department. Once your account is approved, you can buy cryptocurrency on our platform.

How can I exchange cryptocurrency on your platform?

We provide an option of exchanging cryptocurrency for cryptocurrency. Just log into your account and go to your virtual wallet. Choose the two options that you want to exchange and click the button to proceed. Your transaction will be executed instantly.

How can I sell cryptocurrency on your platform?

To sell a cryptocurrency, you need to have a verified account on our platform. Also, you need to have a corresponding amount of cryptocurrency on your digital wallet. Just log into your account on our website, choose the cryptocurrency and amount that you want to sell, and click the button to proceed.

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