FAQ (Frequently Asked Questions)

2. Exchange

1. About Coin24

   Coin24 has been providing financial services since 2011. Over the years, we have earned the trust of thousands of customers and built a strong reputation among our users.

   We are also committed to protecting your personal data and keeping your information confidential in line with current security standards.

2. Service Hours

   You can create an exchange order online at any time — 24/7/365.

   Automated exchanges are processed around the clock, seven days a week. Cash exchange orders can also be created at any time, but processing will begin once a manager picks up the order.

   Coin24 Support is available daily from 08:00 to 00:00 (UTC+3). You can find all available ways to contact us on the Contact Us page.

3. Order Processing Times

   Most online orders to buy or sell cryptocurrency are processed automatically. You can find the current processing times for each exchange pair in our Exchange Regulations.

   Actual processing times may vary depending on:

   • how quickly your payment is received;
   • the number of blockchain confirmations required;
   • processing times of exchanges and payment providers.

   Cash exchange orders are handled by a manager in the order they are received. Processing times depend on the exchange pair, city, and current workload at the cash location.

   Once your exchange is complete, you'll receive a notification and the order status will be updated in your account.

   In some cases, high network activity or increased load on exchanges or payment systems may result in longer processing times. If you have any questions about your order status, please contact our Support team using any of the options listed on the Contact Us page.

4. How does a cash exchange work?

   Coin24 allows you to exchange cryptocurrency for cash and cash for cryptocurrency in supported countries and cities. The current list of available locations is shown when you create an order.

   Creating an order
   To make a cash exchange, sign in to your account. On the homepage, select Cash as the payment method in the online calculator, choose your country and city, create the order, and wait for a manager to confirm it.

   If you are buying cryptocurrency with cash
   Once your order has been confirmed by a manager, you will receive the cash office address and a secret code for depositing the funds. After the cash office confirms receipt of your payment, the cryptocurrency will be sent to the details provided in your order.

   If you are selling cryptocurrency for cash
   Once your order has been confirmed by a manager, you will receive the payment details and the cash office address. After your funds are received, a secret code will be generated for you to collect the cash at the specified location.

   For faster communication and to coordinate the details of your order, we recommend adding your Telegram username when creating the order. Please make sure your Telegram privacy settings allow messages from users who are not in your contacts. Otherwise, the manager may be unable to contact you.

   All questions related to cash exchanges are handled through Coin24's regular support channels. You can find the current contact options on the Contact Us page.

   The time required to complete a cash exchange depends on the exchange pair, amount, cryptocurrency, and other details of the specific order.

5. How long does an exchange take?

   Processing times vary depending on the exchange pair and factors such as the payment method, cryptocurrency, bank, payment provider, or blockchain network involved.

   You can find the current processing times for each exchange pair in our Exchange Regulations.

6. Blockchain Transaction Confirmations

   A network confirmation means that a transaction has been successfully validated by the blockchain network.

   The number of confirmations required varies depending on the cryptocurrency. A transaction can only be processed by our service once the required number of confirmations has been reached.

   Confirmation times depend on factors such as network activity, the transaction fee, and other technical conditions. Coin24 has no control over this process and cannot speed it up.

7. Service Fees

   All fees that apply to your selected exchange pair are already included in the amount shown by the online calculator.

   When creating an order, you'll see an estimated exchange amount upfront. Once the order is created, you can review the full exchange details.

   Please note that the exchange rate and service fee are locked in when we receive your payment, not when the order is created. Due to cryptocurrency volatility and changing market conditions, the final exchange amount may differ from the initial estimate.

   For more information, see 2.9. Exchange Rate Lock.

8. How do I create an exchange order?

   You can start an exchange directly from the online calculator on the homepage and sign in as part of the process. Alternatively, sign in to your account, go to "Orders", and click Create Exchange in the top-right corner.

   Select the transaction type, exchange pair, and payment method, then enter the amount you want to exchange. Click "Buy Now", check that all the details you've entered are correct, and confirm your order.

   Once your order is confirmed, make the payment using the details provided. After we receive your funds, the order will be processed and the exchanged amount will be sent to your wallet or bank card, or paid out in cash, depending on the exchange pair you selected.

   You can track the progress of your exchange in the "Orders" section of your account.

9. Exchange Rate Lock

   Cryptocurrency rates can change in real time, so the rate shown when you create an order may differ from the rate available when your payment is received.

   The exchange rate and service fee are locked in when your payment is actually received by our system, not when the order is created. This is due to the high volatility of cryptocurrencies and constantly changing conditions across global and local crypto markets.

   Creating an order does not lock in the exchange rate. The final rate is determined according to the terms of the selected exchange pair and is locked in once the required payment amount has been received by our system.

10. Why can the exchange rate and final amount change?

    Cryptocurrency prices are determined by international crypto markets and fluctuate in real time.

    They are affected by supply and demand, market activity, trading volumes, and other market factors. As a result, the price of a cryptocurrency can change within just a few minutes.

    This means the final exchange amount may differ from the initial estimate if some time passes between creating your order and locking in the rate. Depending on market movements, the final amount may be either higher or lower than originally shown.

    The rate-locking rules for each exchange pair are set out in our Exchange Regulations.

11. Order Status

    To view your orders, sign in to your account and go to the "Orders" section.

    Each order shows its current status along with details on the progress of your exchange. You'll also receive an email notification whenever the status changes.

    What do the order statuses mean?

    • New order — your order has been created successfully and is awaiting your confirmation.
    • Payment Pending — payment is expected using the details provided.
    • Processing — your payment has been received and the order is being processed.
    • Completed — the exchange has been completed successfully.
    • Canceled — the order has been canceled and will not be processed further.
    • Expired — the order has expired.
    • Failed — the order could not be completed successfully.
12. Exchanges Without Creating an Order

    To make an exchange, you must first create an order. Once your order has been created, you can make the payment, track its status, and receive updates on its progress.

13. Order Canceled or Expired

    The Canceled, Expired, and Failed statuses mean that the standard processing of your order has stopped.

    The reason for the status change is shown in your account and is also sent to you by email.

    If you need any additional information about your order status, please contact our Support team using any of the options listed on the Contact Us page.

14. Haven't received your funds after the order was completed?

    Most exchanges are completed within the timeframes specified in our Exchange Regulations. However, in some cases, it may take longer for the funds to reach you.

    Possible reasons for a delay include:

    • the required number of blockchain confirmations;
    • high blockchain network activity;
    • processing times of exchanges, banks, or payment providers;
    • technical issues, temporary restrictions, or other technical factors that may affect the transaction.

    If your order is already marked as Completed but you haven't received the funds yet, we recommend allowing some additional time, as there may occasionally be a delay before the funds are credited.

    If the timeframe specified in our Exchange Regulations has passed and you still haven't received the funds, have received only part of the amount, or have any questions about your order, please contact our Support team using any of the options listed on the Contact Us page.

15. Currencies Available for Payments and Payouts

    Available currencies depend on the exchange pair you select.

    When buying cryptocurrency, payments are accepted only from bank cards in Ukrainian hryvnia (UAH). When selling cryptocurrency, you can receive your payout in any of the currencies available in the online calculator.

    The current list of available currencies is shown in the online calculator when you create an order.

16. Recommendations on Choosing a Cryptocurrency or Wallet

    Coin24 provides cryptocurrency exchange services only and does not offer investment advice or recommendations on cryptocurrencies, exchanges, wallets, or other services for storing digital assets.

    Users are responsible for choosing which cryptocurrency to use, how to store it, and which third-party services to use.

17. Minimum and Maximum Exchange Amounts

    Minimum and maximum exchange amounts vary depending on the exchange pair, payment method, and current conditions set by our payment partners.

    The current limits for each exchange pair are shown in the online calculator when you create an order.

    If the amount you want to exchange exceeds the available limit or there are not enough funds in reserve to complete the exchange, please contact our Support team using any of the options listed on the Contact Us page. We'll check whether the exchange can be arranged and let you know what options are available.

    If your exchange amount is below the minimum limit, do not make the payment. Sending an amount that falls outside the limits shown in the calculator may result in loss of funds and make it impossible to complete the exchange.
18. I can't pay for my order by bank card

    If you get an error when trying to pay by bank card, please check that:

    • you have enough funds available on your card;
    • online payments are enabled and your payment limit is high enough;
    • your card details have been entered correctly;
    • your card has not been blocked by your bank.

    In some cases, your bank may decline the payment for security reasons or due to its own restrictions.

    If you're sure all the details are correct, we recommend contacting your bank to find out why the payment was declined or trying a different bank card.

    If your card has been charged but the payment has not been applied to your order, please contact our Support team using any of the options listed on the Contact Us page.

19. Are there any additional fees?

    The online calculator takes into account the current exchange rate, service fees, and any additional fees that may apply when depositing or collecting cash. You'll see an estimated final amount when creating your order.

    Please note that the exchange rate is locked in either when the funds are received using the payment details provided or when the payout is made to you, depending on the exchange pair. As a result, the final rate may differ from the rate shown when you created the order.

20. Taxation of Cryptocurrency Transactions

    The taxation of cryptocurrency transactions is governed by the laws of the country where you are a tax resident.

    Coin24 is not a tax advisor and does not provide tax advice. Cryptocurrency owners are responsible for determining their own tax obligations, reporting them correctly, and paying any applicable taxes.

    We recommend keeping up to date with the tax requirements in your country of tax residence, including relevant tax regulations, proposed legislation, and any legal changes that may affect the taxation of cryptocurrency transactions.

    If necessary, we recommend consulting a qualified tax advisor or another relevant professional.