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Account
Account Security and Protection
In this article, we will detail some security tips and information in relation to the parts of a standard account. This can also be applied on multiple platforms and multiple systems, which will more than likely double the security protection of your accounts. Coinmetro offers multiple layers of protection to help keep your account extra secure:
Password Security
Do not use easily identifiable words or numbers (famous dates, birthdays, real-life words, repeating, identifiable word/number patterns). Saving passwords to a browser’s cache is one of the main ways they get compromised.
Use a strong password, meaning to use a random combination of numbers and letters (upper and lowercase). Remembering them might be a challenge, or you can use a trusted password management service that can guarantee their security.
Email Security
The most vulnerable part of your account in most cases, and usually, the first thing that gets compromised. Keeping your email safe and accessible, usually guarantees that you have the ability to reset your account. Overlooking email security could lead to multiple accounts being compromised that are assigned to said email.
The person who has access to the email will, most likely, have access to reset the account password and possibly other account information. The more an email is used to register accounts, the more it is exposed to the risk of being exposed and compromised.
Additional Account Security
2-Factor Authentication (2FA), is the most accessible and popular tool used by most account providers to secure your individual login, and if done right, makes your account almost uncompromisable, just be mindful to use a secure and trusted authentification app and follow proper procedure when moving it to another device.
SMS Verification ties your account to your mobile number.
IP Verification helps us ensure that your account is not accessed by third parties.
Password management service is a way to go to have complicated passwords saved in a system for easy accessibility and security. Although, you are trusting a 3rd party to keep your data safe.
WiFi Security
First of all, check the WiFi network you will connect to. In many places, there are several WiFi networks open within reach of the computer, so it is necessary to verify that you will really connect to the desired one, and not to a stranger.
Computers with Windows 7, Windows 8 and the latest versions of OS X, have the ability to share files with other devices that are connected to the same network. If we are using a public WiFi network, it is recommended to have this option disabled. In Windows, from the control panel, network options. On OS X, from system preferences.
Avoid using the same password for different accounts. This not only applies to connecting to public WiFi networks, but in general.
Whenever you access a website that handles our personal data, such as an email or work platform, a bank website or in general that stores sensitive information. Always verify that it is accessed through a secure navigation protocol, such as HTTPS. In summary, if “https” does not appear in the browser bar, avoid logging in, since the site is not correctly encrypted.
Whenever we use the computer in a public place with open WiFi access, and we are not connected to the Internet, it is advisable to disable the ability to connect to WiFi if it is not needed. In the case of mobile devices, it is advisable to keep the automatic connection to WiFi networks disabled, and only connect to a public network to do what we have to do, and then disconnect. It is preferable to consume a little more mobile data, rather than suffer data theft.
Avoid lasting longer than necessary connected to an account. For example, as soon as you finish sending that important email, log out of the email.
Why has My Account been Suspended?
If you are receiving the message [Access to your account has been suspended] when trying to log into your account, and you do not have two Coinmetro accounts, this means that we are unfortunately unable to provide our services to you.
Please note there are a variety of reasons we may not be able to provide our services.
Due to standards in the financial industry, we do not disclose the specific reason for account closure; however, you can review Coinmetro’s Terms of Use for common situations.
What is the difference between a Personal and a Business Account?
The difference between personal accounts and business accounts is who can deposit fiat into the account:
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Personal accounts can only receive funds from a personal bank account in the account owner’s name who has completed their profile verification.
- Business accounts can only receive funds from bank accounts under a verified business name or from a personal account of the sole beneficial owner.
Why are Withdrawals disabled for My Account?
If you are experiencing issues with withdrawals on your account, this is usually due to one of the following reasons:
Unsettled ACH Deposit
Due to the nature of ACH deposits; although we credit these funds instantly to your Coinmetro account for trading, typically we don’t actually receive your funds until after 3-4 business days (in some cases, up to 10 business days).
For ACH deposits, we require your funds to reach us before withdrawals are able to be processed. For this reason, all withdrawals from your Coinmetro will be temporarily suspended until the funds have fully settled.
As soon as the funds have reached us, your withdrawals will be enabled again and any pending withdrawals will be processed. In the meanwhile, deposits and trading will still be available for you. We kindly ask that you please allow 10 full business days for your funds to fully settle before contacting Customer Support.
Negative Account/TraM Balance
If your account balance or TraM allocation currently stands with a negative value, these funds will need to be covered before you are able to withdraw funds from the Coinmetro platform.
Additional Verification Requested
Sometimes, for compliance reasons, we may reach out to you via email to verify some additional information before we can proceed with your withdrawals. This is to protect both ourselves and our customers from fraud and other malicious activities. Please check your emails to see if we have reached out to you.
How can I close My Coinmetro Account?
You can easily submit a request to close your Coinmetro account from your Account Settings.
On Desktop
Click on either the menu icon (the coloured circle with your initials in the upper right-hand corner) or the sidebar on the left-hand side of your Coinmetro Dashboard, then click on Account.
On the Coinmetro Mobile app
Click on the menu icon in the upper left-hand corner of your Dashboard.
Now, from the Profile tab, scroll to the bottom of the page until you see ’Close Account’. Simply click on ’Close My Account’ to submit your request.
Don’t worry if you still have bonds/equities in your Coinmetro account - this is simply mirrored from the Ignium platform. You will still have ownership of these bonds/equities despite your Coinmetro account being closed.
Your account closure request should be resolved within 30 days of receipt.
How do I change My Account email address?
If you would like to change your account email, please forward the following details to [email protected] from your registered email:
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your full name
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your registered residential address
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the phone number you registered in our system
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a selfie picture of yourself holding a valid ID (preferably the one you used to verify your account), and a pen-written note with the words “Coinmetro email change"; your email address; the new email address, and today’s date. Please make sure the photo is as clear as possible so that we can read all the information.
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the new email address.
Once we’ve received your email, our Compliance team will review your information and update your account. Please note that we have procedures in place to ensure the safety of your account and funds.
Deposit
Where is my Cryptocurrency Deposit?
If your cryptocurrency deposit has not arrived in your Coinmetro account after the given timeframe, please ensure the following:
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Please ensure that the token deposited is supported on our platform. You can see our list of supported assets here. If you have deposited an asset that is not supported by Coinmetro, please contact customer support for assistance in retrieving the funds. Fund retrieval may not be possible in some cases.
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Please check that the transaction has reached the required amount of confirmations on the network. For a full list of our expected deposit times and confirmations required, please visit our Help Center article here.
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Check with the sending wallet or exchange that the transaction was successful. Your funds may not have arrived because the sending wallet or exchange may have rejected the transaction without your knowledge.
- Please ensure that you have deposited your cryptocurrency token to the correct wallet address. If you have deposited with an incorrect or missing address, tag, or memo, please contact support for assistance in retrieving the funds. Fund retrieval may not be possible in some cases.
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Always ensure to use sufficient gas to fund the transaction to the wallet address.
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Please check your emails. As Coinmetro is a secure and regulated exchange, sometimes our team may reach out to customers for additional verification checks before being able to process your deposit.
Where is my credit card Deposit?
If you are having issues with your EUR, USD or GBP credit/debit card deposit, please ensure the following:
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The cardholder’s name matches the account name. Deposits from third parties are not permitted and will be returned to you at your expense.
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Please ensure that the transaction was successful with your bank. Your funds may not have arrived because your bank may have rejected the transaction without your knowledge.
- Please check your emails. When using a credit/debit card for the first time, sometimes we may reach out to you via email to request a PDF bank statement that covers at least a 3-month period where we can see your full name, bank details, and the transaction to Coinmetro. Please note that we cannot process your deposit until your statement has been received.
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In addition to the above, please ensure that:
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the name on your card matches the name on your Coinmetro account
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the card is valid for e-commerce, cryptocurrency, or foreign transactions. Your deposit would have been rejected by your bank if your card does not support these kinds of transactions
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the card is enrolled for 3D Secure transactions
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you have sufficient funds and have not exceeded any limits
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you have entered the correct 3D Secure password
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you have entered the correct CVC code or expiry date
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the card is not expired,
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the card is not a prepaid card,
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a repeated amount of small transactions have not been sent
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the deposit amount is no more than 5,000 EUR.
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What are the Deposit limits for Fiat?
GBP Faster Payments, USD Local Wire, International Wire, SWIFT and SEPA deposits
There are no daily deposit limits; however, there is a €500,000 or equivalent limit per month for Level 1 Verification. For users verified to Level 2, this limit does not apply.
Credit Card transfers
Our required minimum deposit amount is €10 or equivalent, and the maximum deposit limit is €5,000 per transaction.
USD Local ACH deposits
The current limit is $2500 per transaction and $5000 per month.
What verification do I need to Deposit USD?
Should you reside in the United States, and you are looking to make a deposit in USD with either the ACH deposit method or Wire transfer (domestic wire), please note that the first time you go to deposit or withdraw US dollars from your Coinmetro account, there is a little further verification that is required from our banking partner.
Firstly, ensure that you have completed your Coinmetro Profile Verification. A verified account is required to deposit both fiat and crypto into your Coinmetro account. For fiat deposits, you will also need to save your address in the system.
Requirements for USD ACH or Wire deposits:
✔️ Identity Verification
✔️ Address Verification
✔️ Phone Verification
✔️ US Social Security Number
As soon as your profile is verified, the USD deposit methods will be available in the deposit menu from the Dashboard.
For your first USD deposit or withdrawal, you will need to provide your Social Security Number (SSN) inside the deposit panel. Our USD banking partner Prime Trust will process your request.
What are the Deposit fees on Coinmetro?
Withdrawal
Where can I find the status of my Withdrawal?
You can check on the status of a withdrawal from your Coinmetro Wallet. From your Coinmetro Dashboard, click on the Walletstab at the top of the page.
Then, from your Wallet, click on ’Transactions’, find the relevant transaction and click on it. You will find the status of the transaction on the upper right-hand side of the dialog box.
Once the withdrawal shows as ’Sent’, the funds will be deducted from your Wallet Balances. If you have requested a withdrawal to a new destination, please ensure that you have confirmed this via email. Please check your Inbox (and Junk/Spam folders) for an email titled Confirm Your New Withdrawal Destination, and click on [Confirm].
Where can I find my XRP destination tag?
A common issue on why XRP withdrawals fail is due to an incorrect tag being entered. Here is how you can ensure that your XRP transaction is successful by entering the correct destination tag.
Cryptocurrency Exchanges
If you are withdrawing XRP to another cryptocurrency exchange, please ensure that you are using the correct tag provided by the external exchange.
If the tag is entered incorrectly, this may, unfortunately, result in the loss of your funds.
Personal Wallets
If you are withdrawing your XRP to a personal wallet, you can input any tag; however, please note that there cannot be any leading zeroes; for example, ’123’ would be a valid tag, but ’0123’ would not.
What happens if I have sent Cryptocurrency tokens on the wrong network?
When it comes to depositing and withdrawing cryptocurrencies, it is vital to ensure this is sent on the correct network. For example, all ERC-20 tokens must be sent on the Ethereum network, it is important that you please ensure you carefully read the pop-up message (pictured below) before making a deposit using the ERC-20 method
Please note that we do not support deposits via the Binance Smart Chain or OMNI - depositing tokens on either of these will result in the permanent loss of your funds, and we may not be able to recover your funds once they are lost.
What are the Withdrawal times for Coinmetro’s listed assets?
If you are already impressed by the transaction times Coinmetro is offering, we are proud to let you know that these transaction times just went into warp speed...
We now have some of the quickest transaction times in the entire industry! Due to our regulatory requirements, some transactions will need to be checked before they are processed.
Cryptocurrencies
Estimated Transaction Times and Confirmations Required
Cryptocurrency |
Estimated Transaction Time |
Network Confirmations Required |
|
Cardano - ADA |
10 minutes |
10 confirmations |
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Bitcoin - BTC |
20 minutes |
6 confirmations |
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Polkadot - DOT |
10 minutes |
10 confirmations |
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Litecoin - LTC |
25 minutes |
6 confirmations |
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Bitcoin Cash - BCH |
50 minutes |
6 confirmations |
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Tezos - XTZ |
10 minutes |
30 confirmations |
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Stellar Lumens - XLM |
Near-instant |
N/A |
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Ripple - XRP |
Near-instant |
N/A |
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Kadena - KDA |
Near-instant |
N/A - the transaction will state "write succeeded" |
|
Flux Network - FLUX |
30 minutes |
30 confirmations |
|
ThoughtAI - THT |
30 minutes |
10 confirmations |
|
Hathor Network - HTR |
30 minutes |
N/A - the transaction will state "confirmation level 100%" |
Trading
What is Trading volume?
Trading Volume is the total value of all executed trades on your Coinmetro account.
You can count the trade volume of a single order, or combine multiple orders in a specific timeframe such as 1 week or 1 year.
For example, if you were to sell 1 Bitcoin which at the time is worth $30,000, and then buy 1 Bitcoin back for $28,000, your total trading volume for these 2 trades would be $58,000.
We count the total from the Swap Widget, Exchange and Margin platform and display this in your Coinmetro Wallet. This is currently displayed as your all-time volume since opening the account.
Although not a critical piece of information which is used for trading itself, it can be useful or just fun to keep a track of your trading volumes. In future we will be offering badges and rewards for performance with these stats.
What is the difference between Margin and Exchange Trading?
You may already be familiar with Exchange Trading, which is available on most cryptocurrency exchanges - including Coinmetro!
Here are the main differences between Margin and Exchange trading:
Features |
Exchange Trading |
Margin Trading |
Do wallet balances update immediately after an order is filled? |
Yes |
No - instead an open position is created which has a floating profit or loss (P/L) that automatically updates as market prices change |
Can leverage be used? |
No |
Yes - leverage can be used (up to 5:1 at Coinmetro) to amplify potential gains and losses |
Can the trade value exceed available funds? |
No |
Yes |
Can you sell (short) an asset that you don’t own? |
No |
Yes |
What is the maximum trade size? |
The available balance of the asset being sold |
Free margin x leverage equivalent value |
When do wallet balances update? |
Once the order has been filled |
Once the position is closed |
For which assets do the wallet balance(s) update? |
The assets being exchanged |
The settlement currency. At CoinMetro, this will be your primary collateral currency |
Can I withdraw my bought assets to an external wallet? |
Yes |
Settled profits can be released from collateral and withdrawn; however, other assets in open positions cannot |
Summary
In summary, Margin Trading provides the most flexibility if your main goal is to generate profits with added leverage. If you instead want to purchase cryptocurrencies for long-term holding and/or for trading without greater risk, then Exchange Trading would be more suitable for you.
What is the Coinmetro Copy Trading Platform?
The Coinmetro Copy Trading Platform is a product that allows users to mirror the trades made by a manager. Here at Coinmetro, our copy trading platform is known as TraM, short for Trade Mirror.
Are TraMs public or private?
TraMs can either be public or private; although the vast majority of the TraMs will be private. Private TraMs are not visible to the public and are only accessible via a link that the manager can share. Public TraMs have gone through a thorough vetting process by the Coinmetro team, and the managers are experienced traders with a proven track record.