How do I buy cryptocurrency on Elbaite?
Once you have successfully created and verified your Elbaite account, click on Marketplace located on the top panel of the Dashboard. Here, you can choose the cryptocurrency you would like to buy. Once chosen, current offers available are shown and you can start trade on any of the offers. Confirm the transaction by entering your payment details.
What happens if my transaction is cancelled?
Your payment is held securely in our escrow account. We do not release your payment to the seller until the Blockchain verifies that the assets have been received. If a transaction is cancelled, we will refund the money back into your nominated bank account.
How long does it take for my cryptocurrency to arrive in my wallet?
Although Elbaite encourages sellers to immediately send the purchased cryptocurrency once payment has been sent, on occasions some sellers may take longer. The average length of time that sellers take to send assets impacts their TraderTrust score.
What if I never receive my assets?
Your payment is held securely in our escrow account and will only be paid to the seller once the Blockchain verifies that the assets you have purchased are sitting in your wallet. The immutable ledger FTW!
What kind of wallet do I need to receive my assets?
Currently all cryptocurrencies available on Elbaite are on the Ethereum and Bitcoin Blockchain, which means that any Ethereum or Bitcoin wallet which you own the private keys can be used. This could be a web wallet, mobile wallet, or hardware wallet. See below for our recommended list of wallets to use.
Recommended Wallets:
What are possible payment methods?
Elbaite currently offers the following payment options: PayID, OSKO and BSB & Account Number.
Which banks can I use?
Most major banks in Australia can be used with your Elbaite account. Unfortunately, we currently do not support international bank accounts. Please ensure that only bank accounts in your name are used. We do not allow bank accounts in other names to be used with your Elbaite account.
Can I use my Neobank account?
If your Neobank has an Australian banking license, then you can use it. However, we agree, Neobanks are going to be an important factor in the adoption and growth of Blockchain assets. Which is why we’re exploring all possibilities for integration and compatibility with Australian and International Neobanks.
How much does it cost to trade on Elbaite?
Buyers pay a 1% (+GST) trading fee for all trades conducted on Elbaite. This fee is charged in-addition to your purchase.
How do I sell cryptocurrency on Elbaite?
Once you have successfully created and verified your Elbaite account, click Make an offer on Dashboard. Here, you choose the cryptocurrency you would like to sell and will be prompted to fill in details including quantity, price type, limits and availability times.
I sent the cryptocurrency to the wrong address
Please double check when sending to the buyer’s wallet address so that it is correct. Due to the Blockchain, transactions are not reversible nor recoverable and thus it cannot be reversed, for this reason it is extremely important that you double check that the wallet address you are sending to is correct. If you have sent it to the wrong address, the buyer will not receive it, and thus the $AUD payment will not be made to you. Please contact our team through our 'Contact Us' page if you have sent it to the wrong address.
Which banks can I use?
Most major banks in Australia can be used with your Elbaite account. Unfortunately, we currently do not support international bank accounts. Please ensure that only bank accounts in your name are used. We do not allow bank accounts in other names to be used with your Elbaite account.
Can I use my Neobank account?
If your Neobank has an Australian banking license, then you can use it. However, we agree, Neobanks are going to be an important factor in the adoption and growth of Blockchain assets. Which is why we’re exploring all possibilities for integration and compatibility with Australian and International Neobanks.
Is it really free for me to sell on Elbaite?
Yes. Elbaite charges no commission nor any other hidden fees for selling on Elbaite. We only charge a small 1% fee to buyers.
Why do I need to verify myself?
Elbaite is registered with AUSTRAC, and as part of our legal obligations and to ensure security for everyone, we conduct checks to make sure everyone is who they say they are. Verification services are provided by Vix Verify; a leading verification service. Elbaite does not keep your verification information nor do we use it for any commercial purposes. We realise this information is private, and we intend to keep it that way.
How long does verification take?
Account verification is instant and you don’t even need to upload any photos! However, in 1% of cases where we may need extra information, verification may take up to 24 hours.
I forgot my password
Click here to recover your password
My account or transaction has been suspended.
Please get in touch with our team through our 'Contact Us' page.
How can I request further support?
If you have any questions or would like to get in touch with our team please contact us through our 'Contact Us' page.
Where is Elbaite Pty Ltd based in?
Elbaite is headquartered in Melbourne, Australia
Do you have a media team?
For media enquiries, please contact us at media@elbaite.com.au
