The Vault is a time-locked storage service for our customers, enhancing account security. In the Vault, you can deposit any amount of cryptocurrency and set a time lock for withdrawals ranging from 12 hours to 30 days. Each withdrawal request requires separate confirmation, and if desired, you can receive a text message confirmation. This gives you time to react if an outsider gains access to your account and attempts to withdraw funds from the Vault.
Funds in the Vault cannot be sold or transferred out of the service.
Time Lock
The time lock begins when you submit a withdrawal request from the Vault.
- Example: You have deposited 2 ETH into the Vault and set a 24-hour time lock. If you want to access your Ethereum and initiate a withdrawal from the Vault, the ETH will be available to you 24 hours after the withdrawal is made.
There is one time lock for all deposits in the Vault. The length of this time lock can be extended with new deposits. If you make a new deposit within a shorter time than your previous one, the longer lock from the previous deposit will still apply. Therefore, if you make multiple deposits to the Vault with different lock periods, the lock duration for all deposited sums and currencies will be determined based on the longest set time.
The time lock cannot be bypassed, so it is advisable to deposit only funds into the Vault that you do not need for immediate trading or transactions.
Depositing into the Vault
- Go to the Savings - Vault page.
- Choose To Vault.
- Select the currency you want to transfer to the Vault.
- Choose the amount to be transferred.
- Select the duration of the time lock.
- Confirm the deposit by clicking Move to Vault.
Withdrawing from the Vault:
- Go to the Savings - Vault page.
- Choose To Vault.
- Select the currency you want to withdraw.
- Choose the amount to be transferred.
- Confirm the withdrawal by clicking Move from Vault.
- The funds will be transferred to your wallet after the specified time lock period ends.