Deposits & Withdrawals
- Only local banks in Latinoamerica will be accepted to register in BITPoint LATAM, BITPoint at its discretion, will Reject FIAT fund transfers made from offshore accounts.
- Transfers will only be accepted from own, registered and approved accounts By BITPoint LATAM, for which the bank certificate must have been uploaded in the registration process of the trading account.
- In case BITPoint identifies transfers executed from/To a third-party account, i.e. a bank account of a person other than the one who is requesting the purchase or sale of Crypto Assets, such transfer will be rejected. This rejection will be autonomous and discretionary of BITPoint LATAM.
BITPoint LATAM Processes your deposit once we confirm receipt of payment as follows:
For transfers in USD from your registered bank account (deposit in USD to BITPoint LATAM account):
- Cut off time for deposits in USD is 5:00 pm Panamanian local time, on business days. Any deposit executed after the 5:00 pm on weekdays, will be reflected in the customer trading account in a maximum of 3 working days.
Please be aware that financial institutions differ in their time limits for money transfers.
For withdrawals in USD to the registered bank account:
- Cut off time for withdrawals in USD is 5:00 pm Panamanian local time, on business days. All withdrawals executed after 5:00 pm local time of Panama on weekdays, will be reflected into the customer’s registered bank account in a maximum of 2 business days
* For Argentina, The maximum deposit is USD 500 per day.
- Regarding receipt amount
① Receipt amount (deposit quantity) of Bitcoin (BTC) will be accepted up to the 8th decimal place.
② Receipt amount (deposit quantity) of Bitcoin Cash (BCH) will be accepted up to the 8th decimal place.
③ Receipt amount (deposit quantity) of Ethereum (ETH) will be accepted up to the 8th decimal place.
④ Receipt amount (deposit quantity) of Litecoin (LTC) will be accepted up to the 8th decimal place.
⑤ Receipt amount (deposit quantity) of Ripple (XRP) will be accepted up to the 6th decimal place.
- Regarding time frame balance will be reflected.
- The time it takes to receive (deposit) each virtual currency, depends on the transaction status in the BlockChain (leisure) of each remittance source and virtual currency, so it is not fixed.
In addition, as soon as a certain number of remittance (sending) information addressed to the customer’s receipt address is approved on the block chain (leisure), it will be reflected in the account balance.
2. Regarding XRP Receipt
- When the deposit address receives XRP for the first time, 20 XRP will be incurred at the recipient ‘s expense as the address activation fee on the BlockChain. Since the address activation fee is collected from the received quantity, if the remittance quantity is less than 20 XRP, the remittance will display an error and amount will be refunded to the remitter.
3. Registered Bank Account:
- At the time user request the trading account in BITPoint LATAM, it is necessary to register and upload a bank account certificate. This will be the only authorized Bank Account for deposits and/or withdrawals in USD.
Registered bank account:
- At the moment in which the user creates a trading account in BITPoint LATAM, they are requested to register a bank account that will be the account that, at the discretion of BITPoint, will be authorized for deposits and / or withdrawals in USD. These deposits and / or withdrawals can only be made from / to the bank account that the user registered at the time of creation of the BITPoint trading account. If BITPoint receives a deposit from an account that is not registered, the money will be returned to that account and the bank fees that are necessary to carry out this transaction will be deducted.
Limits for Crypto Assets Remittances
- Allowed as per remittance
Level 1: USD 25,000
Level 2: USD 50,000
Level 3: USD 200,000
Crypto Assets withdrawals
- Withdrawals made from BITPoint wallets to an external wallet, will be executed on the working D + 1 day. Transaction is executed one business day after the request is made in the BITPoint account.