FAQs

MTBIT Exchange

Frequently Asked Questions

Getting Started

What is MTBIT Exchange?
MTBIT Exchange (MTBIT) is an Estonia-based cryptocurrency exchange & wallet. Our team of 100+ Fintech talents is committed to providing seamless trading, user-friendly digital wallets and high-standard security practices. This commitment serves to further our vision: To make blockchain more accessible for people all over the world, no matter their socioeconomic status.

Regulated by the FIU (Estonia Financial Intelligence Unit), MTBIT is committed to provide a transparent and ethical exchange between interested parties. Your personal data and digital assets are safe with us forever, thanks to our advanced encryption and state-of-the-art cybersecurity system.
Is MTBIT.Exchange regulated?
License Number FVR000753 is for providing services to exchange virtual currencies against fiat currencies, and License Number FRK000656 is for providing a virtual currency wallet service.

Customers FIAT funds are kept in a segregated custody account.
How does it work?
In order to enjoy MTBIT's platform, you can buy/sell an array of cryptocurrencies that are listed on our exchange (see asset index).

There are 3 simple steps to start buying/selling or exchanging Cryptocurrencies on MTBIT's regulated Cryptocurrencies platform.

Create and Verify Account: MTBIT's regulation requires us to have some basic information regarding our users, to make sure they are qualified for cryptocurrencies services. The process is quick and simple, and upon completion, you're ready to go! For your convenience please use our step by step Registration process guide.

Digital Wallet: To use MTBIT.Exchange's platform for buying/selling or exchanging cryptocurrencies, you must have a digital wallet. If you already have one, great, you have completed the first step. If you do not have one, you can download your free wallet here. (MM: where is here) Or, you can register an account on MTBIT and use our on-exchange wallet as your own, though you should still create your own.

Deposit Funds: You are now ready to deposit FIAT or Cryptocurrency to your account, and to join the exciting world of the cryptocurrency revolution. You just need to confirm your wallet address, and then choose your preferred method of depositing funds: credit card, or wire transfer.

For New Traders:
MTBIT aspires to become the Exchange platform for everyone. For new traders, without proper knowledge and lack field-practice, along with the risk-averse mentality, our Demo exchange helps you practice and heighten your skill in a “no risk - yes reward” environment.
In reality, the maintenance and operation of a demo exchange requires the same level of technical resource as maintaining and operating a live exchange. MTBIT proud to be one of the few providers that could operate these two simultaneously without any disturbance.
What is two-factor authentication and SMS Authentication?
Two-factor authentication is a layer of security designed to prevent someone from accessing your account, even if they have your password. Two-factor authentication requires you to verify your identity using a random sequence of six numbers that are sent to your approved device.

SMS Authentication – SMS authentication adds a second layer of security between an attacker and password change, withdrawal conformations and other sensitive information by sending your mobile a unique, one time and temporary passcode through an SMS text message.

Users must provide the correct passcode to modify services and security settings and to approve withdrawal confirmations.

SMS code is not received: If you have enabled SMS authentication but you do not receive SMS code please take the following steps:

Make sure your country and area are currently supporting SMS authentication.

Make sure that your mobile phone is turned on and has a good signal.

Please close any Anti-Virus software and/or firewall apps on your mobile phone.

Restart your mobile phone.

If you still cannot receive SMS code, please use our Support page for further investigation or send a direct email to Support inbox.
KYC procedure and requirements?
Account verification (identity verification) - ID verification is required to commit our regulatory obligation, to keep the community safe and to prevent fraud. This process is simple, you only need to fill in basic information, then upload an ID card, passport or Driver License. Our requirements are the following: Proof of ID: Valid copy of International Passport, National ID or Driving License (in case where National ID is not applicable) front and back. Full name, date of birth, photo, dated of issue & expiration date, Passport/ID/DL number and MRZ lines (where applicable) need to be visible. The name must correspond with the registration name. Please make sure the copy is clear, not blurry, colored and all four corners are visible.
What is the process of account approval?
If you have already submitted your documents, please allow us time for verification before opening a ticket. We apologize for any extended delays and want to assure you that we are working faithfully to verify your account.

Make sure to check your email for official notifications by MTBIT Exchange Compliance team requesting any additional documentation that may be required for account verification.
How can I follow MTBIT Exchange on social media?
Facebook: https://www.facebook.com/exchange.mtbit/
Twitter: https://twitter.com/MTBITExchange
Telegram
Youtube : https://www.youtube.com/c/MTBITAcademy
Why am I not receiving emails from MTBIT Exchange?
Most common reasons you may not be receiving MTBIT Exchange emails are:
You've accidentally marked previous MTBIT Exchange email as spam
Your email provider added MTBIT Exchange into low priority section and did not deliver the email to your inbox.
The email was delivered, but is in your spam/junk folder.
If you are not receiving forgot password email or any other emails from our platform:

Please check if you have fully completed your registration and activated your account with the help of account verification link sent to your email.
Please check your email spam folder or other folders to search the email. It is possible that emails from MTBIT Exchange got filtered into a different folder within your inbox, this may be caused by synchronization issues between mobile apps or email users. You should log into your email via a web browser if possible and perform a thorough search for it.
Please make sure your inbox is active and other mails are being received or sent.
Whitelist our email in your email server, which is the best way to ensure email delivery.

Please add below emails into your whitelist/safe sender:

[email protected]
[email protected]
[email protected]

If you still cannot receive e-mail from us, please provide more details to investigate your case: email address, please additionally inform when was the last email you have received from us.

Account Management and Security Maintaining

How can I update my personal details?
If you wish to change your personal details, please follow these simple steps:

Login to MTBIT Exchange website.
Click on the small arrow icon next to your name.
Click “My profile”.
Under personal details select “Edit”.

Please note: each change in personal details will result in changing your regulation status. The status will become pending and you will be required to pass through KYC verification once again.
How to Change my email Account?
If you wish to change your account email, please follow these simple steps:

Login to MTBIT Exchange website.

Click on the small arrow icon next to your name.

Click on “Account settings”.

Select “Change” in the email section.

A verification pops-up will be evoked, please choose “Send”.

Open your former email (the one indicated in the pop-up window) and click on the verification link you have received.

Go back to MTBIT Exchange web-site and expect “Change Email” Pop Up to appear.

Enter your new Email.

Open your current email inbox and click on the verification link in the mail sent from MTBIT Exchange.

Once the verification process is completed, your new Email will be associated with your account.
Is my account information secure?
We treat your data in accordance to international laws for Data Protection and Privacy (e.g. GDPR) and therefore: We won’t use your email address for any other purpose.

Please remember:
MTBIT Exchange does never send any letters asking to donate or transfer funds;
Mail communication is initiated from the official domain - MTBIT Exchange only.
If you have noticed suspicious activity, report it to our Customer service team.
Never enter your account from undetermined device;
Never continue to website following unverified link;
Make sure to receive primary source information about MTBIT Exchange platform through our official channels of communication Telegram, Facebook, Twitter or directly through the web-site.
How to make my trading account more secure?

Set a unique strong password.
Do not share your password to anyone.
Make sure you are visiting the site domain.
Many phishing sites imitate MTBIT Exchange domain name to obtain sensitive information such as confidential details and passwords by trickling you into believing you are on a legitimate website. Therefore, it is necessary to check the address of the web-site and only then proceed to login. In a similar way don’t click or open attachments in emails, unless you are absolutely sure the email was sent by us.
DO NOT call any phone number for someone claiming to be MTBIT Exchange Support, we currently do not offer phone support.
Do not send any money to anyone claiming to be a member of MTBIT Exchange.
We suggest not to store a copy of your Private Key and your 2FA on a cloud storage, email, computer’s hard drive and mobile phone. Make a hard copy of the secrets and store it in a safe, then delete any digital copy.
Enable the Two Factor Authentication feature. Secure your computer Don’t install unnecessary software on your computer, or software from untrusted developers. If possible, consider using a dedicated computer or partition, install Linux, Chrome, a password manager plugin, and nothing else. Subscribe to a good antivirus software, and keep it updated. Secure your internet connection.

Account Funding

How to deposit tokens?
Tokens Deposit (Crypto wallet) allows you to fund your MTBIT Exchange account by depositing tokens from your personal wallet or from a third party exchange.

Login to your MTBIT Exchange account.
Click “Funds" section.
Select your preferred Token/coin and press “Deposit”
Copy the deposit address or scan the QR code.
Open your wallet from which you wish to move your funds and enter the address of MTBIT Exchange as the destination address.
Enter the number of tokens you wish to transfer.
Click “Approve” button.
Review your deposit transactions and statuses under “Deposit History” tab.
Confirmation mail will be sent once the deposit is registered on our system.
Why is the deposit missing?
We will verify and process your deposit it as soon as possible, once it arrives at MTBIT Exchange.

If your transfer hasn't arrived within the time frame, please contact your bank, check if the transfer was successful and request a transfer receipt. Once received, please send the receipt to our support email or attach it by using our Support page and we will investigate the case.
Deposited to a wrong address
If you made a deposit to a wrong address, MTBIT Exchange will not receive these coins.

MTBIT Exchange cannot know who own the fault address and cannot recover the lost coins. MTBIT Exchange do not know who owns these addresses and have no means of recovering those coins. If you know the belonging of specific address, we recommend that you contact the owner to negotiate your investment back.
Deposited wrong coins
MTBIT Exchange does not offer any Token recovery service. If the token or coin you deposited is not listed on our platform, we cannot receive the tokens.
Why the deposit/ withdrawal is on hold (or pending)?
A deposit or withdrawal being on hold means that our support team must manually check before releasing it. There are several reasons a deposit or withdrawal may be put on hold. If you recently made multiple deposits of the same amount, one or more of the deposits may have been put on hold to make sure they aren't part of a duplicate deposit — a single deposit that's been sent to your account multiple times due to a technical issue. The best way to avoid this situation is to send different amounts whenever you send multiple deposits within 72 hours.

The name on the bank account you deposited from or withdrawing to does not match the name on the MTBIT Exchange account.
How to make my trading account more secure?
Set a unique strong password.
Do not share your password to anyone.
Make sure you are visiting the site domain.
Many phishing sites imitate MTBIT Exchange domain name to obtain sensitive information such as confidential details and passwords by trickling you into believing you are on a legitimate website. Therefore, it is necessary to check the address of the web-site and only then proceed to login. In a similar way don’t click or open attachments in emails, unless you are absolutely sure the email was sent by us.
DO NOT call any phone number for someone claiming to be MTBIT Exchange Support, we currently do not offer phone support.
Do not send any money to anyone claiming to be a member of MTBIT Exchange.

We suggest not to store a copy of your Private Key and your 2FA on a cloud storage, email, computer’s hard drive and mobile phone. Make a hard copy of the secrets and store it in a safe, then delete any digital copy.
Enable the Two Factor Authentication feature.

Secure your computer
Don’t install unnecessary software on your computer, or software from untrusted developers. If possible, consider using a dedicated computer or partition, install Linux, Chrome, a password manager plugin, and nothing else.
Subscribe to a good antivirus software, and keep it updated.
Secure your internet connection.


Your bank asked us to put the deposit or withdrawal on hold due to irregular activities.
Withdrawal processed to wrong address
Once you have made a withdrawal request MTBIT Exchange will start process your request.


Unfortunately, due to the anonymity of the block chain, MTBIT Exchange is unable to locate where your funds have been sent and therefore cannot help you to retrieve your funds.
Why is my withdrawal missing?
If you encounter an issue of missing withdrawal, first please check your Withdrawal progress under Withdrawal history located under your Account. If the transaction status appears as not confirmed yet, please be patient and wait for the confirmation process to be completed.

Trading

How to trade?
Enter the trading page and select the instrument you wish to trade.

Select the type of order (Market, Limit).
Enter Buy or Sell amount, you can choose to manually enter the price or choose to use % amount.
Choose your desired price and input them manually.
To execute your order click on the buy circle if you wish to make a BUY order or click on SELL circle if you wish to make a SELL order.
To review your open orders use “Open orders” tab.
Order types
MTBIT Exchange offers several order types to execute your trading:

Limit order - A limit order is an order to buy or to sell a Currency at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.

Market Order - A market order is an order to buy or sell a Currency at the best available price. This type of order will be executed immediately. However, the price at which a market order will be executed is not guaranteed. It is important for investors to remember that the last-traded price is not necessarily the price at which a market order will be executed. In fast-moving markets, the price at which a market order will execute often deviates from the last-traded price or “real time” quote.
Order Book
All current open limit orders appear in the order book. The following fields are represented for every order:
Price - order price in the quoted currency
Amount - order amount in the base currency
Total - the contract size in the instrument’s quoted currency (price * amount)
Last Trades
* Buyer's and seller's colors are green and red respectfully.
How do I cancel an open order?
Open orders can be cancelled if there was no match, i.e. if no trade took place.
If partial trades were opened, you can still cancel the remaining order coins available.

To cancel an open order:

Go to your open orders tab.
Choose the order you wish to cancel, and press “Cancel”.
The funds used in the canceled order will return to your available balance.