You want to transfer cryptocurrencies from another exchange or your own private wallet to BISON? Depositing cryptocurrencies is free of charge for you. Here we explain the exact process and what you must absolutely pay attention to when making a deposit.
Process: How to make a deposit
Open the BISON app and navigate to “Account” ➞ “Deposit” ➞ “Deposit cryptocurrencies”.
Select the desired cryptocurrency.
Your personal BISON receiving address (as text and as a QR code) will now be displayed.
Copy this address and enter it as the destination address with your external provider or wallet.
Notes:
Please only send the correct cryptocurrency to your BISON deposit wallet address. Sending other digital assets will result in an irreversible loss.
Only deposit from wallets where you are the beneficial owner.
Currently, deposits are not supported for all cryptocurrencies. Find out for your desired coin whether we offer this option.
There may be an additional verification for self-hosted wallets.
Security: The correct network & MEMO
Before confirming the deposit with the sender, be sure to check two things:
Network: Only send the coins via the network supported by BISON.
MEMO/Destination Tag: For some cryptocurrencies (such as XRP, XLM or HBAR), a MEMO or Destination Tag is mandatory in addition to the address so that we can assign the deposit to your account. You can find all details and formats here: Which address formats per cryptocurrency are supported by BISON?
Duration: When will my coins be available at BISON?
Crypto transactions are not always completed in fractions of a second. Each deposit must first be confirmed by the respective blockchain network (so-called block confirmations) and undergo routine checks at BISON. Therefore, crypto deposits may sometimes take longer than usual.
Regulation: Origin of the coins
According to the Transfer of Funds Regulation (TFR), we must trace where your deposit comes from. Therefore, you will be asked in the app during the deposit process to specify the sender (yourself or a third party). You can find all information here: Crypto transactions: Regulation and verification (Transfer of Funds & Travel Rule)
Forgot MEMO/Destination Tag?
If you make an XRP, XLM or HBAR transaction without / with an incorrect Destination Tag/MEMO, it may happen that the transaction is not credited to your BISON account. To uniquely assign your transaction to your BISON account, we need some information from you.
XRP:
- a screenshot of your wallet clearly showing the XRP transaction made
- a screenshot of the BISON app showing your Destination Tag
- Transaction hash of your transaction in text form or as a link (no screenshot)
- a microtransaction of 0.001 XRP from the same sender wallet address to rQnA2NRCBo4ANZNVPMT9Lvd9HeXCSxjTAg and this time include your Destination Tag
XLM:
- a screenshot of your wallet clearly showing the XLM transaction made
- a screenshot of the BISON app showing your XLM MEMO (Destination Tag)
- Transaction hash of your transaction in text form or as a link (no screenshot)
HBAR:
- a screenshot of your wallet clearly showing the HBAR transaction made
- a screenshot of the BISON app showing your HBAR MEMO (Destination Tag)
- Transaction hash of your transaction in text form or as a link (no screenshot)
To best protect your personal data, please submit the document via the BISON contact form.