How to Deposit Money in Spectre.ai
How many Accounts for Deposit
The Regular account is your real money account where you may choose to deposit:
a) Directly from your bank account/credit card, depending on the availability in your country
b) Directly from your Ethereum/Bitcoin address (for those who already hold Ethereum or Bitcoin) which will then be converted to USD
c) Directly from your UPHOLD account where you can deposit in your local currency (ie EUR, GBP, USD) and get the equivalent USD in your trading account, in order to begin trading.
The Defi account is the account where you may choose to use any of the available Defi currencies offered ( SNX, KNC, BAND, LINK, USDC, PAX) in order to deposit/withdraw and also trade with. Please note that any funds deposited in this account are NOT converted into a FIAT currency (for example USD) and are held and traded by you in their original form. You may not exchange any part of your balance from one Defi coin to another, as this is NOT an exchange account.
These accounts require the trader to fully complete the KYC process before being able to deposit, withdraw or trade.
How to verify Account in Spectre.ai
How can I Deposit?
It is very easy to do. The procedure will take a couple of minutes.
1) Open the trade execution window and press on the green "Deposit" button in the upper right corner of the tab.
2) Now I will choose Regular Account, press "Save"
3) After it is necessary to choose a method of depositing the account (the Company offers a lot of convenient methods that are available to the Client and are displayed in his individual account). I choose "FXPay88"
4) Next, indicate the currency in which the account will be deposited, and accordingly the currency of the account itself.
5) Enter the amount of the deposit, press "Next"
6) Choose A bank you want to deposit
7) Fill out the form by entering the requested payment details.
How much Money do I need to have in order to trade on Spectre?
Minimum deposit amount depends on the payment method used, but generally for Regular accounts, the minimum deposit is $10 and minimum trade size is $1.00. For a Wallet account where no deposits are needed, the minimum trade size is $50.00. We strongly advise starting off with small amounts as financial trading is risky, despite being rewarding.
What about Currency Volatility?
SPECTREs liquidity pool is a mix of ETH and fiat currency. Your funds are translated into fiat upon deposit, should you choose the on-site accounts, while when you trade from your off-site wallet account you transact solely in ETH. Therefore there is no currency volatility risk on that front. However, when there is a conversion from a cryptocurrency to fiat currencies like USD and vice versa, then you will be subject to exchange rate movements.