FAQ - Frequently Asked Questions

General


What is NEXT.exchange?

NEXT.exchange is a hybrid digital asset exchange platform for cryptocurrencies and a Dutch/British registered company. The goal of our company is to make the practice of trading cryptocurrencies as safe, flexible, and easy as possible. We are taking all of the steps necessary in order to be fully compliant with current and future regulatory frameworks, KYC/AML policies, and all other applicable legislations.

What sets NEXT.exchange apart from other cryptocurrency trading platforms?

Our platform provides:

  • - Low or even no listing fees imposed on assets interested in listing on our platform.
  • - Competitive trading fees.
  • - Exceptional transaction speeds and scalability through the use of leading market technologies.
  • - Instant ERC20 type token integrations.
  • - Listing of non-ERC20 blockchains. Such as Electroneum and Skycoin.
  • - All assets paired with BTC, ETH, NEXT, USD, EUR, and other fiat pairings to come.
  • - Direct cryptocurrency to fiat trading.
  • - Registered as in the Netherlands as a limited liability company and an Ltd. in the United Kingdom.
  • - Financial audits to be conducted by a big 4 accounting firm and made publicly available on our site.

What is the NEXT.exchange token?

The NEXT token is our platforms native ERC20 protocol token. Without the use of which, many of the platforms key features remain inaccessible to users. A user balance of 100 or more NEXT (subject to change based on market conditions) grants users access to the following platform features:

  • - Access to direct fiat to altcoin trading(fiat withdrawals made available post user KYC approval).
  • - A minimum transaction fee reduction of up to 50%.
  • - Up to 2 weeks priority access to trade newly listed assets.
  • - Profit sharing (derived from platform trading and listing fees).
  • - Access to cloud mining (a feature as per our roadmap to be developed and provided at a later date).
  • - Staking on the NEXT.Chain (to be deployed in 2018).

What are the platforms fees?

Trading fee without NEXT: 0.50%

Trading fee with NEXT: 0.25%

Withdraw to SEPA/IBAN: 1,5%

Withdraw to Paypal or other Payment Provider: 2,5%

Will the NEXT.exchange platform be available for mobile devices?

Yes, we are planning to produce mobile applications for iOS and Android devices (during 2019).

What is ERC20?

ERC20 is a technical standard used to denote tokens built as a smart contract on the Ethereum Blockchain. Most tokens within the Ethereum Ecosystem are of the ERC20 standard.

What is Transaction ID?

A Transaction ID (commonly known as a Transaction hash or txid) is a unique identifier used to identify a specific transaction on a respective Blockchain.

Account


How do I create an account on NEXT.exchange?

Creating an account on our trading platform easy and fast.
Navigate to the following page: https://next.exchange/register

Anyone can register on our site using their email address, creating a username and secure password. Once you are done filling in the required fields, click the Register button and check your email for a registration confirmation email from [email protected]

Change password - Forgotten password.

To change or retrieve a forgotten password, navigate to the login page or use the following link: https://next.exchange/password/reset

KYC Document verification.

KYC verification is required for all users that wish to withdraw fiat currencies. Respective identification documents can be submitted by visiting the following link: https://next.exchange/id-proof

Which documents are accepted for KYC purposes?

ID Proof: Either a valid passport, driver's license or National ID Card.
Address Proof: Clearly visible utility bill or bank statement with address and name, no older than 3 months.

What is the members area?

The members area, https://next.exchange/home
Currently provides users with information pertaining to their:

Can I change my email address or username?

No

What to do if your confirmation mail still hasn’t arrived

If you have not received a confirmation email, you have the following options:

Contact us through our support center: Support center
Join and ask for help in our Telegram chat: https://t.me/next_exchange
Contact us via email: [email protected]

Can I follow NEXT on social media?

Identity Verification


Am I required to verify my identity?

You are only required to verify your identity if you wish to withdraw fiat currencies. Basic cryptocurrency trading does not require identity verification.

Where can I upload Identity/KYC documentation?

Follow this link after registering and logging in to your account: https://next.exchange/id-proof

How long does it take documentation to be verified?

Generally it takes up to 14 days. But may take longer depending on circumstances.
If you feel it is taking too long then:

Why are users required to pass KYC identification for fiat operations?

In order to be well aligned with regulatory authorities and to maintain continuous operations while providing the functionality that we do, it is necessary for our company and platform to maintain strict KYC/AML procedures. More information can be discovered here: https://next.exchange/AMLKYC

Do I have to upload my documents again once the exchange fully launches?

No, if you already uploaded your KYC documents we have them stored (encrypted) and we will review them in a timely manner.

Trading, Deposits, Withdrawls


IMPORTANT NOTICE: Please do not hold an excessively large balance in your exchange wallet. Please move your funds to a safe address to which you own the private keys. Only deposit amounts which you feel comfortable trading against other cryptocurrencies. While making a deposit, ensure that you send funds to the appropriate addresses available on your wallet page.

NEXT.exchange is not liable for any losses. NEXT.exchange does not fall under any deposit guarantee scheme and we cannot reimburse funds in case of a loss.


How do I trade?

Placing and taking trades is rather easy and intuitive. Refer to the following article for more information.

How to deposit

Upon logging in at https://next.exchange/, navigate over to your wallet page, https://next.exchange/wallet, after which you can simply send funds to any of the wallet addresses available.

Why do I have one address for all Ethereum (ERC20) type assets?

We provide all of our users with individual Blockchain wallet addresses in order to ensure as much fund security as possible. Any ERC20 assets can be deposited to your Ethereum address. However, only those which are available for trading will be accessible.

Made a withdrawal to the wrong address?

If you made a withdrawal to an incorrect address, we cannot assist you.
Unfortunately because of the nature of blockchain, we cannot halt initiated withdrawals nor can we reverse transactions.
All withdrawals from our platform execute directly on respective blockchains, we do not hold your funds nor do we manage their flow. Please be careful when making withdrawals. We are not responsible for funds withdrawn to incorrect addresses. Before a withdrawal initiates, we send an email to verify the transaction. This is your last opportunity to make sure you are sending funds to the correct address.

Made a deposit to the wrong address?

If you made a deposit to an incorrect address, we cannot assist you.
Unfortunately because of the nature of blockchain, we cannot halt initiated deposits nor can we reverse transactions.
All deposits from our platform execute directly on respective blockchains, we do not hold your funds nor do we manage their flow. Please be careful when making deposits. We are not responsible for funds deposited to incorrect addresses.

Listing and Airdrops


On what basis do new projects become planned for listing?

We require all projects to be backed by their respective communities via a voting process.
Once a submission reaches 1000 votes our team will evaluate the possibility of listing on our platform (no fees imposed). Once a submission becomes labeled as “planned” we will provide respective teams with the necessary details for integration on our platform.

Will there be future airdrops of NEXT?

At the moment no airdrops are planned nor active.