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Quotex: How to Deposit Using Cryptocurrencies

Quotex: How to Deposit Using Cryptocurrencies

Quotex allows you to use cryptocurrency as a deposit option. Below, I have explained all you need to know about depositing in Quotex by cryptocurrency.

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WHAT IS QUOTEX?

Quotex is an online trading broker that allows you to trade multiple asset classes with a minimum deposit amount of just 10 USD. The broker provides a demo for practicing trading strategies, multiple deposit options, and an active multilingual customer support center.

Quotex

CRYPTOCURRENCY AND THE QUOTEX PLATFORM 

Quotex allows the use of cryptocurrency to deposit into your account. Before using this deposit option, you’ll need to set up a cryptocurrency wallet If you don’t already have one.

A cryptocurrency wallet enables you to store, send, and receive digital currencies securely. 

Once you have a wallet, Quotex will provide you with a unique wallet address. This address is where you’ll send your cryptocurrency.

In your cryptocurrency wallet, you’ll initiate a transaction to send the desired amount of cryptocurrency to the provided wallet address. You must enter Quotex’s address and the amount you want to deposit.

After initiating the transaction, the cryptocurrency network will validate and confirm the transaction.

Once the transaction is confirmed, Quotex will monitor the blockchain for incoming transactions to the provided wallet address. When they detect the deposit, they will credit your account with the corresponding value in USD.

Cryptocurrencies on Quotex

DEPOSIT PROCESS USING CRYPTO

Simple steps for depositing with cryptocurrency on Quotex. Enjoy higher security, privacy, global accessibility, lower fees, and faster transactions

The process of depositing into Quotex using cryptocurrency is simple if you follow the steps below.

STEPS FOR DEPOSITING WITH CRYPTO

  1. On the open trade execution window, click the green deposit button in the top right corner.
Deposit Button
  1. Select the appropriate deposit option from the options provided by Quotex. In this case, select the cryptocurrency option.
Cryptocurrency
  1. Enter the deposit amount in the allocated slot.
Amount
  1. quotex offers deposit bonuses of up to 35%. They are optional. Select the deposit option you desire.
Deposit Bonus Optional
  1. To complete the deposit process, click the blue deposit button at the bottom of the open tab.
Deposit Finish

Advantages of using crypto to deposit funds

Depositing funds using cryptocurrency has many advantages, some of which I have highlighted below.

  • Cryptocurrencies provide a higher security level than traditional payment methods. Cryptocurrency transactions are encrypted and secured using advanced cryptographic techniques.
  • While transactions are on a public blockchain, they typically don’t reveal personal information about the parties involved hence private. 
  • Cryptocurrencies are borderless, meaning they can work for deposits regardless of geographical location. This benefits international transactions, eliminating the need for currency conversions and associated fees.
  • Cryptocurrency transactions often have lower transaction fees than traditional banking or payment systems. 
  • Cryptocurrency transactions can be processed quickly, especially when compared to traditional banking systems that involve intermediaries and may have processing delays. Cryptocurrency transactions are typically confirmed within minutes, allowing faster access to deposited funds.

TYPES OF CRYPTOCURRENCIES SUPPORTED BY QUOTEX

Quotex supports multiple cryptocurrencies. Learn about Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and more. Ensure security when depositing funds with crypto.

Quotex supports numerous types of cryptocurrencies. Here is all you need to know about the accepted cryptocurrencies. 

BITCOIN(BTC)

Bitcoin is a digital cryptocurrency created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It is the first and most well-known cryptocurrency, often called the “original” or “king” of cryptocurrencies.

Bitcoin

ETHEREUM(ETH)

Ethereum (ETH) is a popular cryptocurrency created in 2015 by Vitalik Buterin. Ethereum offers a unique feature set beyond simple digital currency transactions, primarily with its ability to support smart contracts and decentralized applications (DApps).

Ethereum

LITECOIN(LTC)

Litecoin (LTC) emerged as a cryptocurrency in 2011, branching off from the Bitcoin blockchain through a process called forking. The motivation behind its creation was to address the growing apprehensions of centralization within Bitcoin and counter large-scale mining companies’ dominance. 

The aim was to ensure a fairer distribution of mining power. Although Litecoin’s efforts to prevent the concentration of mining control were not entirely successful, it has evolved into a cryptocurrency that can be mined and a decentralized payment system facilitating peer-to-peer transactions.

Litecoin

RIPPLE(XRP)

Ripple is a digital payment network and protocol built on blockchain technology, featuring its native cryptocurrency called XRP. The primary function of Ripple revolves around facilitating payment settlements, asset exchanges, and remittances. 

It operates similarly to the SWIFT system, which banks and financial intermediaries utilize to conduct secure international money transfers and handle various currencies.

Ripple

BITCOIN CASH(BCH)

Bitcoin Cash (BCH) is a digital currency developed to reintroduce decentralization to the cryptocurrency space. It emerged through a process known as a “hard fork” in 2017, wherein the original Bitcoin blockchain split into two separate chains.

Bitcoin Cash

OTHER SUPPORTED CRYPTOCURRENCIES

Quotex supports many other cryptocurrencies as deposit options. They include

  • Binance Pay 
  • USD Tether (ERC-20) 
  • USD Tether (Polygon)
  • USD Coin (BSC) 
  • USD Tether (TRC-20) 
  • USD Tether (BEP-20) 
  • USD Coin (TRC-20)
  • Binance USD(BUSD BSC)
  • Solana
  • Dai
  • Monero (XMR)
  • Zcash (ZEC)

SECURITY AND SAFETY CONSIDERATIONS WHEN USING CRYPTO TO DEPOSIT FUNDS

  • Secure Wallet: Choose a reliable and secure cryptocurrency wallet to store your funds. Hardware wallets like Ledger or Trezor offer offline storage and enhanced security features. 
  • Enable Two-Factor Authentication (2FA): Enable 2FA on your cryptocurrency wallet. Two-Factor Authentication adds an extra layer of security by requiring a second verification step, usually a code generated by a mobile app or sent via SMS.

HOW TO WITHDRAW FUNDS FROM QUOTEX WITH CRYPTO

Learn how to withdraw funds with crypto on Quotex. Follow these steps: log in, select cryptocurrency, enter the amount, provide your wallet address, confirm a transaction, and receive funds.

Follow these steps to withdraw funds with crypto from quotex.

Steps for withdrawing with crypto

  1. Log in to your account on Quotex and navigate to the withdrawal section by clicking the withdraw button. Look for the option to withdraw funds using cryptocurrencies.
Withdraw Button
  1. Choose the specific cryptocurrency you want to withdraw from the available options. Enter the amount you wish to withdraw.
  2. Provide the destination wallet address where you want the withdrawn funds to go. 
  3. Quotex will then create a transaction on the cryptocurrency blockchain. This transaction needs to be confirmed by the network, which can take some time, depending on the cryptocurrency’s network congestion and associated fees.
  4. Once the withdrawal transaction is on the blockchain, the withdrawn funds will move to the provided wallet address.

FAQs

What is account verification?

Account verification refers to clients confirming their personal information by submitting additional documents to the company. 

How to understand that I need to go through verification?

You will get a notification through email or SMS if you need to verify anything. The Company uses the contact information you provided in the registration form.

How long does the verification process take?

The Company will process the requested documents within a maximum of five business days from their receipt.

How do I know that I have successfully passed verification?

You will get a notification via email or SMS once your account is verified, enabling you to proceed with transactions on the Company’s trading platform.

Do I need to provide any documents when withdrawing funds?

Typically, you don’t need any additional documentation for fund withdrawals. However, the company may ask for further verficiation if needed. 

BOTTOM LINE

Quotex is an online trading broker allowing you to deposit and withdraw cryptocurrency funds. It supports numerous types of cryptocurrencies, and the steps to deposit and withdraw are simple.