Frequently Asked Questions
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How do I become an approved trading counterparty?
You can become a trading partner of Genesis by submitting a New Applicant Profile (NAP) and required documentation here. If you are signing up on behalf of yourself, please fill out the individual NAP. If you are signing up on behalf of an entity, please fill out the entity NAP.
Hours of operation?
Monday – Friday: 8am-6pm Eastern Time (ET). Genesis observes NYSE holidays.
Can I trade outside the hours of operation?
If you would like to make a trade outside the hours of operation, please contact email@example.com or input a trade directly into TradeBlock. Genesis will execute trades on a best efforts basis and settlement will occur on the next business day.
Is there a minimum transaction size?
There is a soft minimum of $25,000.00 per transaction. Please contact firstname.lastname@example.org if you have any questions.
What are your fees/commissions?
Genesis does not charge a commission on any transaction. Rather, you will be quoted a spread to the XBX Index that is competitive with the market. The price quoted is net to the customer and there are no additional fees charged by Genesis.
How does settlement work?
Settlement occurs on a post-trade basis. This means all digital and fiat currencies are exchanged after a trade is agreed upon. Genesis does not custody customer funds, so there is no need to prefund an account.
What forms of payment are acceptable?
Genesis will only accept Bank Wires and ACH payments. Credit cards, debit cards, or cash will not be accepted.
What If my bank account is in the name of someone besides me?
Genesis will only accept or send wires in the name of the account that has been approved to transact. If sending from a joint account, both parties must submit the New Applicant Profile (NAP). Please contact email@example.com with any questions.
Who can I contact if I am having a problem with settlement?
Please contact firstname.lastname@example.org with any settlement questions.
How long will it take for my application to be reviewed/approved?
Your application will be reviewed in a timely fashion and you will hear back from an onboarding representative within 1 business day of submission. You can reach out to email@example.com if you have any questions.
What Digital Currencies can I buy or sell?
BTC, ETC, ETH, LTC, and XRP. Please note that we can only trade digital currency to fiat.
Is Genesis regulated?
Securities activities regulated by FINRA and the SEC. – BrokerCheck.
Digital Currency – BitLicense submitted and pending approval by New York State Department of Financial Services (NY DFS).
Can I submit a Limit Order?
Yes, Genesis will handle a good-til-canceled limit order which will be filled on a best efforts basis. Automatic execution will not occur, regardless of price.
Can I send or receive a non-USD wire?
Genesis has the ability to receive non USD wires but you will be charged the exchange rate that our bank charges. If you would like to receive a non USD wire in exchange for your digital currency, please contact firstname.lastname@example.org to discuss specifics.
Can I connect via API?
Genesis Trading does offer API connectivity. Please contact email@example.com to learn more.
Do you have any wallet suggestions?
It is very important to fully understand the risks associated with Bitcoin or other Digital Currencies. That includes how to properly store the currency. Please contact firstname.lastname@example.org with any questions.