FAQ
What is DestoCX?
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Crypto exchange, crypto to fiat, crypto to crypto, settle up to 20.000 transactions per second.
How to start?
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It's simple, quick and free to set up with Desto CX. Click register, complete the form and activate your account. After verifying, you can fund your account with cash/crypto and start trading! If you did not verify your account, you cannot make a deposit, trading and request for withdrawal.
What is verification?
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Acronym for “Know Your Customer”, used to describe a series of laws and regulations which require businesses to know the identity of customers.
What information must I provide to trade?
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To open an account, we only require your country, email, and create your password. Verified account (for deposit, trade and withdrawal in FIAT currency) additionally requires a Proof of Identification, proof of residence and Curriculum Vitae (Optional).
Why do I need to verify my account?
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To maintain regulatory compliance in the jurisdictions to trade in, there is a requirement that we receive documentation of the identity on withdrawals from all users on our platform.
Why do I need to provide my personal information to verify my account?
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DestoCX takes every measure to be fully compliant with KYC and AML regulations and for fraud prevention.
How can I secure my DestoCX account?
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DestoCX exchange offers all necessary tools to make sure that your account is properly secured. You can personalize your Two-Factor authentication for all or some of the actions such as:
• Login, Withdrawal, Changing Password, Changing Bank Account or Creating new key in API.
• Please select your mode of receiving the verification under the Two-step Resolve Verification. You may select the options on receiving the verification via email or by google authenticator through an app on your smartphone.
• Secure the email tied to your Desto CX account with a strong password and two-factor authentication.
• Please ensure you keep your secret key safely
What currencies can I deposit and withdraw?
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You can deposit and withdraw US dollars, bitcoin, ether and other crypto currency.
I have not received the email with confirmation code. What shall I do?
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Please try refreshing your browser and clearing all browser cookies. You can also try using different browser and check your spam folder.
Is it possible to participate in an ICO directly from DestoCX exchange?
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No, we recommend participating in an ICO through a (crypto) wallet in which private keys you control.
What is Bitcoin?
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Bitcoin was founded in 2009 and is the most widely used crypto currency. It was supposedly created by the mysterious Satoshi Nakamoto, whose true identity is unknown and has yet to be verified. Bitcoin is not controlled by a centralized government or agency. The Bitcoin network is designed to mathematically generate no more than 21 million Bitcoins and was designed regulate itself to deal with inflation. Bitcoin is a form of digital currency created in 2009, that is created and distributed on a peer-to-peer basis. It has no central bank - transactions are conducted directly between individuals. Bitcoin is the most popular kind of cryptocurrency.
What is Altcoin?
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Altcoin (Alternative coin) – A collective name given to all other cryptocurrencies that are not bitcoin. These include Ethereum, Golem, Monero, Ripple, Dash, Litecoin, Dogecoin and MANY MANY others. There are over 700 recognized cryptocurrencies, tokens and assets today. Altcoin is a form of cryptocurrency that has the same decentralized, peer-to-peer principles as bitcoin, but which uses its own blockchain and has its own rules of operation.
What is FIAT currency?
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Government-issued currency, such as the US dollar.
What digital currencies can I trade other than Bitcoin?
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Currently on DestoCX exchange you can trade Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), US Dollar (USD), Tether (USDT), Litecoin (LTC), Dash (DASH) and NEO (NEO). If you want to trade another particular currency, please send us a suggestion via the Contact Us [link] form.
Limit order / limit buy / limit sell
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Orders placed by traders to buy or sell a crypto-currency when the price meets a certain amount. They can be thought of as ‘for-sale’ signs. These orders are what are bought and sold against when traders place market orders.
Market order / market buy / market sell
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A simple purchase or sale on an exchange at the current price. Market buys fill the cheapest price available on the order book, and market sells fill the most expensive buy order on the books.
What is the order book?
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All unfilled buy and sell orders (Limit and Stop orders) create an order book.
What is going long?
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A margin trade that profits if the price increases.
What is going short?
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A margin trade that profits if the price decreases.
What is Bullish?
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An expectation that price is going to increase.
What is Bearish?
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An expectation that price is going to decrease.
What is ATH?
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All-Time-High. We’ve gotten a lot of these the past couple months.
What is stable coin?
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A crypto-currency with extremely low volatility that can be used to trade against the overall market.
What is arbitrage?
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Taking advantage of a difference in price of the same commodity on two different exchanges. Often mentioned when it comes to comparing ETH prices on Korean exchanges against US exchanges.
What is market cap?
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The total value held in a crypto-currency. It is calculated by multiplying the total supply of coins by the current price of an individual unit.
What is ROI?
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Return on Investment. The percentage of how much money has been made compared to an initial investment. (i.e., 100% ROI means someone doubled their money).
What is TA?
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Trend Analysis or Technical Analysis. Refers to the process of examining current charts in order to predict which way the market will move next.
What is MACD?
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Moving Average Convergence Divergence. A trend indicator that shows the relationship between two moving averages of prices.
What is software wallet?
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Storage for crypto-currency that exists purely as software files on a computer. Software wallets can be generated for free from a variety of sources. MyEtherWallet (MEW) is one of the popular.
What is hardware wallet?
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A device that can securely store crypto-currency. Hardware wallets are often regarded as the most secure way to hold crypto-currency.
What is cold storage?
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The process of moving crypto-currency ‘offline’, as a way of safekeeping your crypto-currency from hacking. There are a variety of ways to do this, but some methods most commonly used:
• Printing out the QR code of a software wallet and storing it somewhere safe, such as a safety deposit box.
• Moving the files of a software wallet onto a USB drive and storing it somewhere safe.
• Using a hardware wallet.