FAQ on crypto exchange — MegaBit

FAQ

Is MegaBit a cryptocurrency exchange?

Yes. MegaBit simplifies work with cryptocurrencies in Kyrgyzstan, providing functionality for full-fledged trading and storage of digital assets.

How to register on the MegaBit exchange?

Registration on the exchange is a fairly simple process that will not take you much time. Create a personal account by specifying your email. In order to start trading cryptocurrency, you will need to go through KYC verification, confirming your identity or business data.

Why is KYC necessary?

Identity verification (Know Your Customer, KYC) is primarily intended to protect your account from fraud, money laundering and other illegal activities. In order to gain access to the services of the Megabit cryptocurrency exchange, all new users must undergo verification.

What is required to pass identity verification?

To pass identity verification, you will need an identity document (for example, a passport or driver's license) and a camera. Upload a photo of the document, take a selfie according to the instructions.

I haven't received a confirmation email for my exchange account, what should I do?

Most likely, the confirmation letter ended up in the Spam folder. This is due to the operation of some mail services.

What cryptocurrencies are available on the exchange?

On the Kyrgyz cryptocurrency exchange MegaBit, such popular cryptocurrencies as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB) and many other coins are available for purchase and sale. You can find the full list at the link: megabit.kg/en/coins-list/

Where can I see information about fees and limits?

You can see the levels of commission for trades for the maker and taker, commission for deposit and withdrawal of cryptocurrency on the page "Commissions and Limits" at the link: megabit.kg/en/account/fees

Does the exchange have a license?

Yes, we have a license - "License No. 0029 for carrying out activities with virtual assets, issued on June 28, 2023 by the Financial Regulation and Supervision of the Financial Market under the Ministry of Economy and Trade of the Kyrgyz Republic". Therefore, MegaBit is one of the first cryptocurrency exchanges in Kyrgyzstan that carries out legal activities with virtual assets.

What should I do if I forgot my password?

If you have forgotten your password, click on "Password recovery" on the account login page and enter your email. You will be sent a letter with a link that you can follow to set a new password for your account. After you recover your password, withdrawals will be blocked for 72 hours for security purposes.

What should I do if I made a mistake when specifying the cryptocurrency address for withdrawal?

If you specified an incorrect cryptocurrency address for withdrawal, and it has changed to the "Completed" status, it is impossible to cancel the withdrawal or return the cryptocurrency due to the technical features of the blockchain. If the withdrawal is in the "Waiting to be sent" status, please contact support.

What if I deleted the 2FA app or the code from it?

If you've uninstalled the Google Authenticator app or removed the 2FA code from it and you have 2FA enabled on your account, contact support. To create a ticket, click the Help button in the lower-right corner of the screen.

Is Megabit safe to use?

Megabit uses modern security tools. All your crypto assets and personal data are securely protected. In the "ACCOUNT SECURITY" section, check out the security settings that will help protect your Megabit account.
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