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FAQ - Frequently asked questions

How does it work?

Exchanges are a simple 3-step processf.

Step 1: Fill out the form on the homepage. Choose the currency you have and the currency you want. Provide the amount you want to exchange and the address of the wallet you want us to send the exchanged coins to. For example, if you want to exchange Bitcoin to Litecoin, you have to provide a valid Litecoin wallet address. If you wish to receive a confirmation e-mail you can also provide your e-mail address. Click "Make instant exchange" to begin the exchange.

Step 2: We generate a unique deposit address for you. This address is unique to this exchange alone. Please transfer the amount you wish to exchange to this address.

Step 3: Once we receive the coins on the deposit address and the network confirms the transaction, we will transfer the exchanged amount to the wallet you provided and we will keep you informed every step of the proces.

That's it! Easy, fast and safe.

What about exchange to and from USD and EUR?

At the moment, we only support exchange from USD to crypto currency. When you make an International bank transfer to us, we also need a picture of you holding your driver license.

What happens if I transfer a different amount than I provided in the form?

No problem. The amount you enter on the frontpage is only used to show you the calculations and expected amount to receive. Once you begin the exchange we start monitoring the deposit address. When we receive a transfer to that address, we exchange the coins we received and transfer the coins back to your wallet.

What about other crypto currencies?

Our aim is to provide easy exchanges between the most popular crypto currencies. Since there are more than 1000 crypto currencies available, we carefully select which ones to support. If you think we should support a specific crypto currency, please let us know at support@evonax.com

How can I contact support?

Please write any questions you may have to support@evonax.com or fill out the contact form. We are based in Denmark/Scandinavia (GMT +1 hour), so please keep that in mind when expecting answers.

Where are you located?

We are based in Denmark. Our address is:

Evonax a/s
Elsdyrvej 24
DK-8270 Højbjerg
Denmark
VAT: DK-28666381
support@evonax.com

Can I cancel my exchange?

No. For security reasons and because of limitations in the crypto currency protocols, we cannot cancel an exchange once the coins are transferred to the address. That means the address of the receiving wallet cannot be changed and the coins cannot be transferred back to the wallet it came from. The coins we receive will always be exchanged and transferred to the wallet address provided in the first place.

Therefore, we ask you to double-check the information you provide before transferring the coins to the deposit address.

If you wish to change any information such as address, receiving wallet or currency, just return to the frontpage and fill out the form again to start a new exchange proces.

How long does it take to make the exchange?

Exchanges are made instant, but for larger amounts we do require network confirmations. The number of confirmations increases as the amount increase, making sure that transactions are irreversible and everyone stays happy.

How are the exchange rates calculated?

The exchange rates on the crypto currency market are highly volatile at times. We therefore keep the exchange rates updated from various sources to match the current market price at all times. This gives you the most accurate exchange rate between any set of currencies at any given moment.

How much time do I have to transfer the coins?

When an exchange is started we will wait 96 hours to receive the coins. After that the exchange will be put on hold. You can still transfer coins but the exchange will need to be reactivated by our support team. Just let us know when you have transferred the coins and we will reactivate the exchange and send you the exchanged coins.

What is the largest amount I can exchange?

The maximum amount is $1000 USD.

What is the smallest amount I can exchange?

Due to the miner fees required to make crypto coin transactions it can be very expensive to make small exchanges, because the miner fee will represent a large part of the amount you want to exchange. The miner fee varies based on the amount you want to exchange, the size of the transaction in bytes and the type of coin you are exchanging to. Very confusing. But we have made it very simple for you. Just fill in the form on the home page and we will tell you if the amount is to small and therefore very expensive to exchange. Easy and simple.

Please see this video that shows how you see if the amount is too small to exchange:

Why was my exchange too small?

To protect our users from making small and expensive exchanges we have created a system that prevents making very small exchanges. The miner fees for a Bitcoin transaction is usually between 0.0001 and 0.0002 bitcoins. If a user tries to exchange i.e. dogecoins into bitcoins and send us a very small amount of dogecoins it will become a very expensive exchange, because the miner fees will eat up most of the exchange amount. If a user sends us a small amount of dogecoins the system prevents the exchange from being processed to protect the user. The user is notified by email, as well as on the site, and is instructed to send us their dogecoin wallet address so we can refund the full amount of coins. This is done free of charge and we will pay all transaction fees.

Can I buy Bitcoin with PayPal?

No, unfortunately not.

I have sent the coins, but the site says "waiting for coins" or "waiting for confirmations"?

This is what happens when a transaction is made.

  1. When you hit "Send" in your wallet, the wallet broadcasts the transaction to the network and the wallet balance is decreased by the amount you have sent.
  2. The network will then confirm the transaction along with all the other transactions by including the transactions in the blockchain. This is most likely the current state of your transaction.
  3. When the network includes the transaction in the blockchain, the transaction will be confirmed and now the transaction is completed. At this point we can trust the transaction and start processing the exchange.

There can be a several reasons why we have not received your coins.

  • Transaction not verified. If you are using an online wallet service, you often need to verify the transaction, by clicking a link in the email they sent you. Check your mail and click the link.
  • The network is busy. If there is a lot of transactions on the network, it can take longer for your transaction to get confirmed an included in the blockchain. Your transaction is not trusted by the network until it has been confirmed and included in the blockchain. Please read this article for more information about how the blockchain works.
  • Low or zero fee added to the transaction. Transactions with the highest fees will be confirmed first. If your transaction has a low or zero fee it will be last in the queue to get confirmed. In situations with lots of transactions, transactions with smaller or no fees can take hours or even days to get included in the blockchain and get confirmed, so please be patient.
  • Wallet not updated. If your wallet is not updated to the current version, it may have broadcasted your transaction to an obsolete blockchain. Updating the wallet will in most cases force the wallet to re-broadcast the transaction on the new blockhain and your transaction will get confirmed by the network.

Your exchange rate is wrong? Your exchange rate is lower than the market rate?

Our mission is to make fast, easy and anonymous exchanges, without the need for an account, at the best possible rate. Our rate is updated from several sources, to reflect the market price.

When setting our rate, we take several key factors into account, such as volatility of the value of bitcoin, exchange fees, transaction fees, server cost, salaries etc.

It is a complicated calculation, so to make things easy for our users (which is our main objective) we build all of this into our exchange rate, which we then show to our users on the home page, where it is also possible to calculate how much you will receive, so you know exactly how much you will receive before you start the exchange.

We offer the best possible rate we can give, while also running a sustainable business, which will also be here a year from now.

Is this a legit site? Can you be trusted?

Yes, we are a very legit company with lots of happy customers. To show that we are a legit company, we are very honest and open about who we are. You can see our personal social profiles on the about page.

You can read reviews from our customers on our facebook page.

Also try to do a Twitter search to see what other customers are saying about us.

How do I cancel my exchange?

You don't have to do anything, the exchange will automatically time out if you do not send any money or coins to the deposit address.

Bank Information

account number 4387 4387076190

IBAN DK7730004387076190

SWIFT DABADKKK

Danske Bank a/s

Aaboulevarden 69

DK-8000 Aarhus C