Frequently asked questions

Last updated: 7. February 2019 - 3:10 am (GMT+1)

General

What is Mirai Exchange?

Mirai Exchange is a cryptocurrency exchanged based in Norway, you can read more about us here.

What does it cost to use Mirai Exchange?

Signing up Mirai Exchange is free of charge. We take fees when you make trades on our exchange or make withdrawals. There are no fees to make a deposit. You can find out more information about our fee structure here.

Transfers and trading

How do I buy Bitcoin with Norwegian kroner (NOK)?

  1. Sign up to the Mirai Exchange here.
  2. Go to account settings and fill out your profile.
  3. Set up two-factor authentication to make your account secure.
  4. Verify your identity, read more here.
  5. Go to the deposit screen and choose NOK. There you will find the account to transfer funds to. Make sure you add the correct message to your transfer so that we can process your deposit quickly.
  6. We will email you once the funds are available to use at our exchange.
  7. Go to the trade screen and choose BTC/NOK to buy Bitcoin using NOK. If you want to buy other cryptocurrencies, you can buy them with Norwegian kroners.

How do I sell Bitcoin for Norwegian kroner (NOK)?

  1. After registering you add two-factor authentication and then verify your identity, read more here.
  2. Go to the trade screen and choose BTC/NOK to sell Bitcoin for NOK. You can also sell other cryptocurrencies for NOK by first selling them for bitcoin and then sell the bitcoin for NOK.

How do I withdraw Norwegian kroner (NOK)?

  1. Go to your profile and add your bank account here. We only allow withdrawals to Norwegian bank accounts in your own name.
  2. Request a withdrawal on the withdrawal page.
  3. You will receive an e-mail once your withdrawal has been processed. The transfer is usually sent the same day you request it.

How do I deposit cryptocurrencies?

  1. Once you have signed up and verified your identity go to the deposit screen and select the cryptocurrency you want to deposit.
  2. Read the instructions carefully and copy the shown deposit address.
  3. Send your chosen cryptocurrency to this address.
  4. We require a minimum of confirmations before your account is credited. This varies depending on the cryptocurrency you deposit.

How do I withdraw cryptocurrencies?

  1. Go to the withdrawal screen and select the cryptocurrency you want to withdraw.
  2. Input the amount you want to withdraw and your address for the cryptocurrency of choice.
  3. Click send.
  4. Doublecheck that all the details are correct, especially you withdrawal address. Once a withdrawal has been sent, there is no way we can refund it in case of a wrong address.
  5. Generally, your withdrawal will be processed right away. For large withdrawals, it may take up to 24 hours.

How long time does it take for NOK deposits to be credited?

NOK deposits are usually credited within 1-2 business days. If you use "straksbetaling" your deposit will usually be credited the same day, also during weekends. You will receive an email when the funds are credited. Make sure you add the correct message to your transfer, if not it will take longer as we will have to wait for information from our bank.

Can I use "straksbetaling"? Is this faster?

Yes, deposits made with "straksbetaling" are usually credited the same day, also during weekends. In certain situations it may take longer. We always wait until we have the necessaray information about the transaction from our bank.

Why does it take 1-2 business days before deposits are credited?

The reason is that it takes time for our bank to process transactions and give us the necessary information required. We need to know details about where the money is coming from to make sure the funds are credited the correct user and to stop fraud. There is no way for us to speed up this process.

How long time does it take for a NOK withdrawal?

We will usually process the withdrawal the same day as you request it. That means that the money will be in your account the next business day. If you make the withdrawal early in the morning it might be in your bank account the same day.

Security and our KYC process

Why do I need to verify my account?

Finanstilsynet, which is the financial supervisory authority of Norway, has laid down a new anti money laundering regulation that applies from 15. October 2018. As a Norwegian cryptocurrency exchange we are required to follow this new regulation. This means that we require all our customers to undergo our KYC process and verify their identity before we can continue to offer them services.

How does your KYC process work?

The first step in our KYC process is to verify your identity using BankID. We currently only allow Norwegian citizens to use our exchange, and BankID is the only method we accept for identity verification.

The second step is filling out our KYC questionnaire. This is easy and quick to fill out. We are required to ask you where your capital comes from, the purpose of the customer relationship and your trading activity, as well as other relevant information.

We only allow Norweigna citizens that have both verified their ID using BankID and filled out our KYC questionnaire to use our exchange.

How do you store the information used for KYC?

We store this information encrypted in our database. Only staff working with KYC have access to the information.

How long do you store data used for KYC?

We are required to store this information for a period of five years from when you last used our service.

How do I secure my Mirai Exchange account?

  1. When signing up, choose a password that you are not using anywhere else. The best way is to have an auto-generated password for each account. Because it is impossible to remember hundreds of strong passwords, we suggest you employ a password manager such as 1Password or LastPass.
  2. Make sure you enable two-factor authentication here. Read more about two-factor authentication below.

What is two-factor authentication?

Two-factor authentication, also known as 2FA, is an extra layer of authentication and verification that goes beyond the basic username and password security model. Without this, anyone can log into your account if they know your username and password. Two-factor verification adds an extra layer of security to your account. The process requires you to sign in with something you know (your password) and something you have (a code sent to your phone or another device).

Support

You can contact support at support@miraiex.com or chat with us when logged in.