We are here for you
If you have a question or need help with this service, you can find many of the answers here.
Choose a category below to find answers to some of the most commonly asked questions. Once you’ve chosen a category, click on a question to display the answer.
Sign Up 2 Articles
- Tick “Terms and Policies”
- You should be getting an email to verify your registration
- Check your email and Verify the registration
- Perform the Mobile Registration
- The system will send an OTP (one-time-password)
- Receive OTP from your mobile and provide it in the verification page
*You will get a message that Email and mobile has been verified*
- Once verified you will automatically be directed to the sign-in page and once signed in, go to ACCOUNT VERIFICATION
- Fill out the form then submit
- A message will appear that your information is currently under review
*Registrant will wait 24 hours to see if they are rejected or approve.
*Every time a user logs in- he/she will be notified via email.
- An email will be sent if your authorization has been rejected or approved
- You'll also see on the exchange under Account VERIFICATION that your account is successfully verified
- Before a user can engage in trading activity on the platform, the user should make a deposit
*You can't perform anything until KYC is verified and 2FA verification as well. But you can still navigate on through the website.
Security 3 Articles
Phishing is a type of social engineering attack, is the fraudulent attempt to obtain sensitive information such as username, password, 2FA code etc by disguising as Cryptosouk.io in an electronic communication. Users are often be deceived by trusted parties such as:
- Email spoofing.
- Fake site.
- Instant message with malicious link.
- Social websites with manipulated links.
- Chat with impersonated support staff.
- Fake hotline or support in search engines etc.
- Social Media Fake Account
- Malware downloaded from internet
- Free WIFI Phishing
Phishing attack protection requires steps be taken by both users and our exchange.
- Always upgrade Google Chrome or Mozilla Firefox to the latest version. It is known that Google Chrome or Mozilla Firefox will warn users for phishing or unsafe high risk website.
- For IT professional, it is recommended to verify SSL domain name.
- Enable Two-factor authentication (2FA) verification such as Google 2FA or SMS 2FA. Keep cautious and not disclose Google 2FA 16 digital back key to anyone or any website. If username and password were compromised, 2FA prevents the use of compromised credentials, since these alone are insufficient to gain entry.
- Install Chrome Netcraft Extention or Firefox Netcraft Anit-Phishing Extension.
Our Support Staff
Our staff will never ask for your password, 2-factor authentication codes, or other login credentials. We will never ask you to install remote login or remote support software on your computer.
Disabling Your Account
You may disable your account at any time using the disable links in password reset, transaction confirmation and device confirmation e-mails.
Your Password
- Use a complex and unique password that is not shared or similar to those used on any other websites.
- It's also a good idea to change your password periodically (about every 3 months) and use a completely new password each time.
- Using a password manager such as 1Password or LastPass makes this easy to manage.
- Never disclose your password to anyone.
- Our employee will NEVER ask for your password.
2-Factor Authentication
- Take advantage of the 2-factor authentication (2FA) services we offer, either an extra SMS login code, or a TOTP app like Google Authenticator.
- You can also enable 2-factor authentication codes when sending as an extra security measure.
- TOTP apps are considerably more secure than SMS for 2FA codes, since they are tied to a specific physical device, not a phone number, which could be compromised in a phone porting attack.
- If your email provider offers this functionality, consider adding 2FA to the email address you use to log in to the exchange.
- Do not use VOIP, Google Voice, or other phone providers that send you 2FA messages via email to the address you use to log in to the exchange.
- If your carrier doesn’t support these added protections, consider changing to a carrier that does.
Email Protection
Do not use the same password on your email account that you do on your exchange account. If your email provider offers it, activate 2-factor authentication (2FA) on your email account to add an extra layer of security.
IP Activity
You can check the IP login activity and verified devices on your account anytime by signing-in.
3rd Party Applications
Practice due diligence when enabling any 3rd party applications to access your account, or when enabling and sharing your API key. By default these features are turned off, and are only used in more advanced situations.
User Accounts 11 Articles
Two-factor authentication is an extra layer of security for your exchange account designed to ensure that you're the only person who can access your account, even if someone might know your password.
With two-factor authentication, your account can only be accessed on devices you trust, like your smartphone. When you want to sign in to your Exchange account, you'll need to provide two pieces of information—your password and the six-digit verification code that's automatically displayed in your authentication app.
To set up Two-factor authentication on your exchange account follow the step by step guides on the site.
Check that the clock on your device is correct and set to the correct timezone. An incorrect clock can cause codes to be out of sync.
- Account value must be below 0.5 BTC
- Your account must be Basic or Enhanced Verified
- You must have disabled your own account by clicking the link in one of the emails the exchange sends.
- You requested that your account get disabled.
- We suspected your account was hacked and disabled it for you.
- You attempted to verify your account with an identification document that has already been used.
- Your account was involved in irregular trading activity.
- You violated the Exchange terms of service.
If your account has been locked out from completing the ID verification for 24 hours, unfortunately we do not have a way to bypass this restriction. Please wait 24 hours and try the upload again. If you keep encountering issues with the verification, it may be necessary to follow some of the troubleshooting tips above to complete the ID verification, such as trying a different browser or device.
If your ID document is issued by a country other than the country you are a resident of, it may not be possible to complete ID verification at this time. We're always working on improving our verification service and hope to support your specific situation as soon as possible.
In some cases, we require an additional verification in order to enable or continue trading services.
This error indicates that there was an issue connecting to our ID verification service. When you see this, please wait 15 minutes and try to verify again.
Note that this may be required for account recovery if you lose your 2-Factor Authentication device or additional security is required for an action you are trying to perform.
- Make sure the light is coming from in front of you, not behind you, such that your face is clearly visible without backlighting.
- Face the camera directly and include from your shoulders to the top of your head, similar to a passport or ID photo.
- Use a plain wall as a background if possible.
- Do not wear sunglasses or hats.
- If you are wearing glasses in your ID photo, wear them in your selfie photo. If you are not wearing glasses in your ID photo, remove them for your selfie photo.
- Ensure that your document is valid and not expired, without hole punches or other modifications
- Ensure your document is in a well-lit area without glare. Natural sunlight is best
- Photograph the entire document and avoid cutting off any corners or sides
- Ensure the ID is fully visible and in focus
- Use the Chrome browser to complete the verification
- If having trouble with the camera on a desktop or laptop computer, try selecting ""Mobile Camera"" during the verification process. This will send a verification link to your phone number so you can use your mobile phone's camera to complete the process
- Try using your mobile device. In some instances you can use the mobile app to complete the ID verification step using your phone's camera. The 'Identity Verification' section can be found under 'Settings' in the app
- Make sure the app or program you use to take the pictures does not add any logos or watermarks
- Do not obfuscate any information on the ID
- If you make a mistake, refresh the page to restart the process. Do not attempt to complete the process if you know there is an error
- For US customers, only US state-issued ID such as a Driver's License or Identification cards are accepted. We are unable to accept US passports
- For customers outside of the US, we are unable to accept scanned or otherwise saved image files. If you do not have a webcam on your computer, in most instances the mobile app or Mobile Camera option can be used to complete this step.
ID verification is required to prevent fraud and keep the community safe. It also adds an extra layer of security by ensuring no one but you links your payment information such as your bank account or credit/debit card.
As part of our commitment to remain the most trusted cryptocurrency platform, all IDs must be verified through the exchange website or mobile app. We do not accept emailed copies of ID for verification purposes.
Digital Currency 19 Articles
One can use bitcoins to purchase goods on the internet and in stores. The following are some unique properties of Bitcoin:
- Bitcoin is global: Bitcoins can be sent to someone across the world as easily as one can pass cash across the counter. Bitcoin isn't closed on weekends and doesn’t impose any arbitrary limits.
- Bitcoin is irreversible: Bitcoin is like cash in that transactions cannot be reversed by the sender. In comparison, credit card, popular online payment systems, and banking transactions can be reversed after the payment has been made - sometimes months after the initial transaction.
- Bitcoin is private: When paying with bitcoins, there are no bank statements, and one need not provide unnecessary personal information to the merchant. Bitcoin transactions do not contain any identifying information other than the bitcoin addresses and amounts involved.
- Bitcoin is secure: Due to the cryptographic nature of the Bitcoin network, Bitcoin payments are fundamentally more secure than standard debit/credit card transactions. When making a Bitcoin payment, no sensitive information is required to be sent over the internet. There is very low risk of your financial information being compromised, or having your identity stolen.
- Bitcoin is open: Every transaction on the Bitcoin network is published publicly, without exception. This means there's no room for manipulation of transactions, changing the money supply, or adjusting the rules mid-game. The software that constitutes the core of Bitcoin is free and open-source so anyone can review the code.
Bitcoin was originally released in 2009 by Satoshi Nakamoto as a piece of software and a paper describing how it works. Because Bitcoin is fundamentally software, anybody can run it on their computer, and therefore participate in a global economy.
One of the most important elements of Bitcoin is the blockchain, which tracks who owns what, similar to how a bank tracks assets. What sets the Bitcoin blockchain apart from a bank's ledger is that it is distributed, meaning anyone can view it. Since Bitcoin is open, no company, country, or third party is in control of it, and anyone can participate.
Ethereum aims to take the decentralization, security, and openness afforded by blockchains and extend those to virtually anything that can be computed.
Ethereum uses a 'virtual machine' to achieve all this, which is like a giant, global computer made up of many individual computers running the Ethereum software. The virtual currency unit that allows this system to work is called ether. People interact with the Etherum network by using ether to pay the network to execute smart contracts.
Unlike the Bitcoin network, the primary purpose of Ethereum is not to act as a form of currency, but to allow those interacting with the Ethereum Network to make and operate 'smart contracts' without having to trust each other or use a middleman. Smart contracts are applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third party interference - a smart contract will work exactly the same every time it is used.
Ethereum is a decentralized blockchain platform founded in 2014 by Vitalik Buterin. Like Bitcoin, Ethereum is an open-source project that is not owned or operated by a single individual. This means that anyone, anywhere can download the software and begin interacting with the network.
Average block mining speed in Litecoin is 2.5 mins when compared to bitcoin’s 10. This feature is extremely useful for merchants who need to do a lot of mini-transactions per day. Using Litecoin, they can get two confirmations within 5 mins while just one confirmation in Bitcoin will take at least 10 mins.
Another major advantage of the faster block creation time is the variance in miner rewards. Since the time between blocks is so small, more and more miners get the opportunity to mine blocks and earn the mining rewards. What this means is that the mining rewards should theoretically be well-distributed in Litecoin and, by extension, it should be more decentralized.
While the identity of the Bitcoin creator Satoshi Nakamoto is shrouded in mystery, Litecoin’s creator Charlie Lee is very active on social media and his blog. Charlie Lee is an ex-Google employee who had the vision to create a lighter version of Bitcoin.
The protocol as a working prototype was created away back in 2004. But the real history starts in 2013, when Jed McCaleb, the creator of the EDonkey network invited a bunch of world rank investors to invest in Ripple Labs.
XRP is a token used for representing the transfer of value across the Ripple Network. The main purpose of XRP is to be a mediator for other - both cryptocurrencies and fiat - exchanges
RippleNet is a network of institutional payment-providers such as banks and money services businesses that use solutions developed by Ripple to provide a frictionless experience to send money globally.
Your currency is yours
You have complete control over your transactions. You are responsible for your money. Because your identity is private no one will be able to see what you are spending your money on.
It is Fungible
Another interesting property that it gains, thanks to its privacy, is that it is truly fungible.
Dynamic Scalability
Bitcoin was created with a self-imposed 1 Mb block size limit. In its early developments bitcoin didn’t have any block size limit, however, in order to prevent spam transactions, the size limit was enforced. Monero, on the other hand, has no “pre-set” size limit, but this also means that malicious miners can clog up the system with disproportionately huge blocks. To prevent this from happening, a block reward penalty is built into the system.
ASIC (Application Specific Integrated Circuit) Resistant
Monero is not exactly “ASIC resistant”, but the cost of manufacturing ASICs for Monero would be so high that it simply won’t be worth it. Monero is based on the CryptoNote system which makes it distinctly different from bitcoins, the hashing algorithm used in CryptoNote based systems is called “CryptoNight”. Cryptonight was created to build a fairer and more decentralized currency system. Cryptocurrencies which incorporate Cryptonight cannot be mined using. It was hoped that this would prevent the creation of mining pools and make the currency more evenly distributed.
Monero has a whole host of other features making it a very resistant Crypto Token.
Back in July of 2012, Bytecoin, the first real life implementation of CryptoNote, was launched. CryptoNote is the application layer protocol that fuels various decentralized currencies. While it is similar to the application layer which runs bitcoin in many aspects, there a lot of areas where the two differ from each other.
While bytecoin had promise, people noticed that a lot of shady things were going on and that 80% of the coins were already published. So, it was decided that the bytecoin blockchain will be forked and the new coins in the new chain will be called Bitmonero, which is was eventually renamed Monero meaning “coin” in Esperanto. In this new blockchain, a block will be mined and added every two mins.
Lumen supply is determined by fixed, protocol-level rules. The number of lumens created at genesis was 100 billion. Every year, there is a 1% inflation rate. New lumens cannot be generated arbitrarily by anyone. While somebody could theoretically push a proposal to change the protocol to change the rule around lumen creation, validators on the network are very unlikely to accept and ratify it. The decentralization of the protocol prevents them from unilaterally controlling any changes.
XLM is shorthand for lumen. Most currencies have 3-letter codes (USD, EUR, AUD, BTC) as an international standard. The technical term for these shorthand codes is ISO 4217.
One lumen (XLM) is a unit of digital currency, like a bitcoin and Lumens are the native asset of the Stellar network.
Native means that lumens are built into the network. Asset is how the network refers to an item of value that is stored on the ledger and one lumen is a unit of digital currency, like a bitcoin.
While you can’t hold a lumen in your hand, they are essential to the Stellar network—they contribute to the ability to move money around the world and to conduct transactions between different currencies quickly and securely.
The Stellar network is a distributed blockchain based ledger and database that facilitates cross-asset transfers of value, including payments. The native digital asset of Stellar is called Lumens (XLM).
In other words, Stellar is the payment network (Horizon API and Stellar Core) and Lumens (XLM) is the cryptocurrency. Those are both overseen by a non-profit called Stellar.org.
The currency was launched in January 2014 as "Xcoin" by Evan Duffield, as a fork of the Bitcoin protocol. It is an altcoin and in its early days it was subject to pump and dump speculation. It was rebranded as Darkcoin, which received press from the media as being used in dark net markets. In March 2015, it rebranded again with the name Dash as a portmanteau of 'digital cash'. As of August 2016, Dash is no longer used in any major dark net markets worth noting.
Dash is an open source cryptocurrency and is a form of decentralized autonomous organization (DAO) run by a subset of users, called "masternodes". It is an altcoin that was forked from the Bitcoin protocol. The currency permits fast transactions that can be untraceable. 45% of mined coins go to miners, 45% to masternodes, and 10% into a fund that the DAO invests.
Privacy 11 Articles
The General Data Protection Regulation (GDPR) is a new comprehensive data law in the European Union (“EU”) which updates existing data protection laws to strengthen the protection of personal data for individuals who reside in the EU. The GDPR aims to increase transparency for how personal data is used and to provide EU residents (“data subjects”) with more control over their data.
GDPR regulates the processing of personal data of data subjects by service providers like CryptoSouk, and allows users to exercise certain rights with respect to their data. These include the rights to access, correct, restrict processing, export or delete their data.
Like many other software companies, we have implemented a company-wide GDPR compliance strategy. We appreciate that our customers have requirements under GDPR that are directly impacted by their use of our services, and we are committed to helping our customers fulfill their requirements under GDPR.
Below are a few examples of initiatives we have committed to in order to satisfy GDPR requirements that apply to both our customers and us:
- Publishing an updated privacy policy.
- Committing to security and privacy measures required under GDPR.
- Where we are transferring data outside of the EU, committing to appropriate data transfer mechanisms as required by GDPR.
- Assisting our customers with satisfying their GDPR data security and privacy requirements, notifying regulators of personal data breaches on our systems and promptly communicating any such breaches to our customers and end-users.
- Ensuring our staff that access and process our customer’s personal data are bound to maintain the confidentiality and security of that data.
- Holding any subprocessors that handle our customers’ personal data to the applicable data management, security and privacy standards required under GDPR.
Yes, we process customer personal data to provide our services and for other specified purposes described in our privacy policy.
Our goal is to provide our customers with secure, fast and reliable service. As a provider of a global service, we run our service with common operational practices and features across multiple jurisdictions. For example, we currently store data in data centers provided by Amazon Web Services (AWS) located in the US (see https://aws.amazon.com/security for information on their security practices). We may also allow employees and contractors located around the world to access to certain data for product development, customer and technical support purposes. We disclose in our Privacy Policy that personal data will be transferred to the United States and possibly to other countries for purposes related to providing products and services.
Our service features require that data be transferred to the US. In addition, our employees and contractors may need access to data stored in the EU from a non-EU country (e.g., US or Australia) for technical and support related reasons. In all cases where data is transferred outside of the E.U., Cryptosouk.io commits to ensuring such transfers are compliant with applicable data transfer laws, including GDPR.
In many cases, customers may be able address these types of requests by logging into our services and using functionality or settings available within the services. Where this is not possible, please contact us to request assistance with any such individual rights requests.
Our services are used by thousands of users around the world. To provide scalable service to our users and customers, we have included GDPR compliance information in our updated Privacy Policy and have included answers to commonly asked questions on this page.
Protecting your data and your privacy are top of mind. We only use your data to verify your identity, enable transactions, and improve our product. We do not and will not sell your data to third parties.
We collect personal information to provide you with our services. When we do collect data it is primarily because it is mandated by law — such as when we must comply with anti money laundering laws — or to verify your identity and protect you from potential fraudulent activity.
We may collect the following types of information:
- Personal Identification Information: Full legal name, date of birth, age, nationality, gender, signature, utility bills, photographs, phone number, home address, and/or email.
- Formal Identification Information: Tax ID number, passport number, driver’s license details, national identity card details, photograph identification cards, and/or visa information.
- Financial Information: Bank account information, payment card primary account number (PAN), transaction history, trading data, and/or tax identification.
- Transaction Information: Information about the transactions you make on our Services, such as the name of the recipient, your name, the amount, and/or timestamp.
- Employment Information: Office location, job title, and/or description of role.
- Online Identifiers: Geo location/tracking details, browser fingerprint, OS, browser name and version, and/or personal IP addresses.
- Usage Data: Survey responses, information provided to our support team, public social networking posts, authentication data, security questions, user ID, click-stream data and other data collected via cookies and similar technologies. Please read our Cookie Policy for more information.
If you are unable to login to your account or cannot access the privacy settings page, please submit a request through our support center. When submitting a request, select the “data access” category and pick which subtype is most applicable to your situation.
Deposit and Withdraw 17 Articles
If you get "INSUFFICIENT_FUNDS", it means you have entered more coins than you have. This can happen because we take TXFEEs out of your BALANCE, not the amount you enter in.
An invalid error next to your withdrawal in the Pending Withdrawals section of the Wallets page means an invalid address was entered. We can only send coins to valid addresses. If you attempt to send a coin to another coin's address it may come up invalid, you must always send coins to an address generated for that coin. BTC to BTC, ETH to ETH, LTC to LTC and so on.
The minimum withdrawal for all coin's must be greater than 3 times the fee. For example BTC has to be .00150001 or greater as the fee is .0005
If you have two-factor enabled, you will need to enter your 6 digit code and press Confirm. If you do not have two-factor enabled you will need to login to your email account and click the verification link we send you. We recommend that you enable two-factor for all withdrawls on your account.
Some coins may require a message/payment/tag/memo. If required, you must provide the message/payment/tag/memo for the withdrawal so that the coins can be routed to the receiving wallet. If you do not attach this,you will risk losing these funds unless you are sure you are sending to a wallet that doesn't require a message/payment/tag/memo. Check with your receiving wallet's deposit instructions for the coin you are sending.
Make sure the address you enter was created for the coin you are withdrawing. You cannot withdraw coins to another coins address. This means BTC must be withdrawn to BTC and LTC to LTC, and so on. If you withdraw to another coins address you risk losing your funds permanently.
We will start the automatic withdrawal process as soon as you click the Withdrawal Confirmation button in your E-mail account. Unfortunately, there is no way to stop this once initiated. Due to the anonymity of the blockchain, we are also unable to locate where your funds have been sent. If you have sent your coins to the wrong address by mistake, please use other means to try and locate and/or contact the recipient of your funds.
If you have withdrawn your funds to another exchange with an incorrect or empty tag/required description, please contact the receiving exchange with your TxID to organize the return of your funds.
- If the blockchain showed that the transaction has not yet been confirmed, please be patient and wait for the confirmation process to complete.
- If the blockchain showed that the transaction is already confirmed, which means that we have transferred coins successfully and cannot do anything to help you. If you still had issues, please negotiate to the owner of destination address.
To check if your deposit is confirmed on a different chain, please use a search engine and search for Coinname block explorer, which should lead you to a block explorer for that coin.
We cannot credit transactions until they have the proper number of confirmations on the blockchain. We do not control the blockchain nor can we make it go any faster. The transaction time is controlled solely by the blockchain of the coin you are depositing.
It is common for users to generate an address for one coin and then deposit a different coin to it. In some circumstances we may be able to retrieve these coins. If you sent your coin to a different coin's address you'll need to submit a ticket telling us the coin name, the address you sent the coin to, the transaction id (txid), and the amount of coins sent. This type of deposit mistake can take over 2 weeks to be credited.
Please make sure to check the deposit instructions for each coin. If you do not follow the instruction provided your coin may not be credited. If you realize that you did not include the proper tag/paymentid/memo/message please submit a ticket and provided support the full transaction hash of your deposit. If you do not provide the transaction hash we will be unable to credit your coins. The typical SLA for deposits without message is up to four weeks.
No, we do not charge you for depositing crypto currency on to our exchange.
A withdrawal marked as “completed” or “success” on an exchange does not mean that the transaction has fully processed to the receiving exchange – it simply means that the transaction was successfully posted to the blockchain.
Once a transaction is on the blockchain, it will still take a variable amount of time to confirm and post to the destination exchange. Different blockchains require different amounts of “confirmations” before a transaction is verified.
It is not uncommon for a blockchain to be congested with many transactions, causing unexpected/unusual delays in processing your transaction. You may use the transaction ID (TxID) to follow the status on the blockchain.
If you sent your coins to a wrong address, then we did not receive these coins. And we do not know who controls those addresses and have no means of recovering those coins. If you know who that address belongs to, it is recommended that you contact to the owner of the target address to negotiate your coins back.
To deposit via bank transfer please follow these steps:
- Add beneficiary
|
Bank name |
Burgan bank |
|
Beneficiary name |
JM Financial |
|
Routing code |
Not applicable |
|
Account number |
KW87BRGN0000000000007054339002 |
|
Swift code |
BRGNKWKW |
|
Location |
Kuwait |
- Make the transfer and add Deposit details
* It may take up to 3 days for your deposit to reflect on the exchange. Receiving bank is in Kuwait and it is closed on Friday and Saturday (bank works on Sunday).
To deposit using your credit/debit card please follow these steps:
- Fill in the Deposit amount and Comment. Click on Submit.
- You will be redirected to an external website wherein you will add your card details and complete the payment.
* A 3% fee will be charged on all deposits made via credit/debit cards with a minimum being 3$ and a maximum of up to 3000$.