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Getting Started

Kenneth David
By Kenneth and 1 other
5 articles

Getting Started

Step 1: Log In to Your AFRIDAX Account - Navigate to https://exchange.afridax.com in your preferred web browser. - Enter your username and password or use the GOOGLE Single Sign on button to access your AFRIDAX Exchange account. - If you do not have an account, complete the Create Account (Sign Up) process before proceeding with the deposit. Step 2: 2FA Activation Follow the steps in this article on how to download and setup a 2FA Application on your mobile device. Reputable 2FA applications are free of charge and will never ask you for credit card details to utilise the service. NOTE: Two-Factor Authentication (2FA) is required to enable Deposit and Withdrawal functionality. Step 3: Depositing South African Rand (ZAR) & Banking Details To transfer ZAR from your bank account into your AFRIDAX account, follow the below steps - Select Wallets from the top menu - Select SA Rand - ZAR - Select the Deposit button. - This will generate a pop-up window containing your unique deposit details, including the bank account information necessary to complete your Rand deposit. Ensure You Use the Correct Deposit Reference Number - This reference number is unique to your deposit and ensures your funds are automatically credited to your AFRIDAX account. - Failure to include this reference number may result in delays or the failure to process your deposit. Step 4: Complete Your Deposit - Once you have noted the necessary deposit details, proceed with your transfer using your chosen payment method (e.g. EFT/bank transfer). - Ensure that you use your Deposit Reference Number in your transfer to avoid any delays or complications. Step 5: Confirmation - After completing your deposit, monitor your AFRIDAX account for confirmation of receipt. - Monitor your email for the "Incoming Deposit Notification" to confirm your account has been credited. - Depending on the payment method, it may take anywhere from a few minutes to a few hours for the funds to appear in your account. This timeline may change due to Public Holidays and weekends. This is a bank limitation and out of our control. - Please contact support if you have not used your unique reference number when making a deposit, providing the proof of payment. Step 6: Trading To view Markets and start trading 1. Select Trade from the top menu 2. Select Markets 3. Select a market from the available list to begin trading. 4. Refer to our detailed articles for in-depth guidance on using the exchange, Deposits and Withdrawals, and How Cryptocurrency Systems Function, Including Transaction Delays Final Reminder - To ensure a smooth deposit process, double-check that the Deposit Reference Number is correctly included when making the transfer. This is a critical step to prevent any potential delays in crediting your funds. - To simplify transferring funds to your AFRIDAX account, we recommend adding AFRIDAX as a beneficiary in your online banking profile. Need Assistance? If you encounter any issues or have questions regarding the deposit process, our support team is available to assist you. Please submit a support request to [email protected], and we will promptly address your inquiries. You can view our status page here.

Last updated on Mar 28, 2025

How Cryptocurrency Systems Function, Including Transaction Delays

Cryptocurrency systems, like Bitcoin or Ethereum, rely on a network of computers (called nodes) to process and validate transactions. Here’s how they work and why delays can happen: 1. Transaction Validation: Every transaction needs to be checked by the network to ensure it’s legitimate, like a bank verifying a payment. 2. Block Formation: Transactions are grouped into "blocks," which are added to the blockchain (a public digital ledger). The creation of each block takes time and happens at regular intervals, which can vary depending on the cryptocurrency. 3. Network Congestion: When many users are trying to make transactions at once, it’s like a traffic jam — the system can only process so much at a time, causing delays. 4. Transaction Fees: Users can pay higher fees to prioritize their transactions. If you pay a lower fee, your transaction may take longer to be processed as higher-fee transactions are prioritized. In essence, the system’s design, volume of activity, and how fees are handled all contribute to how quickly your transaction is confirmed. Important Notes: - AFRIDAX confirmation policy outlines the number of confirmations that AFRIDAX requires to consider a transaction final. - Cryptocurrency transactions are irreversible. Always verify the recipient's address and network before confirming your withdrawal. - Please take note of the Cryptocurrency Risk outlined in this article. Need Assistance? If you encounter any issues or have questions regarding the deposit process, our support team is available to assist you. Please submit a support request via the platform, and we will promptly address your inquiries. You can view our status page here.

Last updated on Apr 23, 2025

Creating and Signing into Your AFRIDAX Account with Google

AFRIDAX offers a quick and easy method to create and sign into your AFRIDAX trading account with the Google Sign-up feature. If you were referred, make sure that you have entered your referal code before clicking the Google button, once you have selected the Google button, please choose which account you wish to use to create your AFRIDAX account. You can proceed to click the Google button on the login screen to access your account going forward.Creating and Signing into Your AFRIDAX Account with Google Overview AFRIDAX offers a seamless and secure way to create and access your trading account using the Google Sign-Up feature. This method simplifies the registration and login process while ensuring the safety of your credentials. Step 1: Account Creation Using Google 1. Navigate to the AFRIDAX registration page. 2. If you were referred by another user, enter your referral code before proceeding. 3. Click the Google Sign-Up button. 4. Select the Google account you wish to use for your AFRIDAX account. 5. Upon successful authentication, your AFRIDAX account will be created, and you will be redirected to your dashboard. Step 2: Logging into Your AFRIDAX Account Once your account is created, signing in is quick and easy: 1. Navigate to the AFRIDAX login page. 2. Click the Google Login button. 3. Choose the same Google account used during registration. 4. You will be securely logged into your AFRIDAX account. Important Notes: - Ensure that you enter any referral code before clicking the Google Sign-Up button, as this cannot be added retroactively. - The Google Sign-Up feature ensures a secure login experience without requiring a separate password for AFRIDAX. - If you experience any issues signing in, verify that you are using the correct Google account associated with your AFRIDAX profile. Need Assistance? If you encounter any issues or have questions regarding the deposit process, our support team is available to assist you. Please submit a support request via the platform, and we will promptly address your inquiries. You can view our status page here.

Last updated on Feb 10, 2025

Installing 2FA (Two-Factor Authentication)

Two-Factor Authentication NOTE: Reputable 2FA applications are free of charge and will never ask you for credit card details to utilise the service. Two-factor authentication (2FA) is mandatory on the AFRIDAX platform to enhance security for user accounts and transactions. Given the high value and decentralized nature of cryptocurrencies, platforms are often targeted by cyberattacks. 2FA adds an extra layer of protection by requiring a second verification step, such as a code from an authenticator app or a registered device, reducing the risk of unauthorized access even if passwords are compromised. By mandating 2FA for sensitive operations like deposits and withdrawals, the AFRIDAX platform safeguards user funds and builds trust, ensuring that only verified individuals can access and manage their accounts. What is 2FA? 2FA stands for Two-Factor Authentication. It’s an extra layer of security to protect your online accounts. Instead of just using a password, 2FA requires a second step to verify your identity. How does it work? 1. First Factor: Your password (something you know). 2. Second Factor: A unique, time-sensitive code (something you have). Google Authenticator (Recommended App): - It’s a free app that generates these unique codes. - After setting up 2FA, the app provides a 6-digit code that changes every 30 seconds. - You enter this code after your password to log in. Step 1: Download a 2FA Application These apps generate secure one-time passcodes for login verification. Download and install your chosen app from your device’s app store. - Recommended 2FA apps: - Google Authenticator (Available on Android and iOS) OR - Duo Mobile (Available on Android and iOS) Step 2: Log In To Your AFRIDAX Account - Using the AFRIDAX mobile App OR - Using a Web browser, enter https://exchange.afridax.com Step 3: Access Your Account Settings - Once logged in, locate the User Icon in the top right-hand corner of the page. - Click on the icon to open a drop-down menu with various account management options. Step 4: Enable 2FA Verification - In the drop-down menu, select 2FA Verification. - This will take you to the Two-Factor Authentication settings page where you can configure and activate 2FA for your AFRIDAX account. Step 5: Set Up 2FA on Your Device If you cannot scan the QR code, you can manually enter the setup key provided beneath the QR code in the 2FA app by selecting "Enter a Setup Key". - On the 2FA settings page, a QR code will be displayed. - Open your 2FA app on your mobile device - For Google Authenticator: Select the "+" symbol on the bottom right of the screen, then select "Scan a QR code". - For DUO: Select "+ Add", then "Use QR Code". - Use your mobile device to scan the QR code displayed on your AFRIDAX account page. Step 6: Verify the 6-Digit Code - After successfully scanning the QR code or entering the setup key, your 2FA app will generate a 6-digit verification code. - Enter the 6-digit code into the designated field on the AFRIDAX page. - Click Submit to complete the 2FA setup process. Final Considerations: - It is recommended that you store a backup of your 2FA recovery codes in a secure location. These codes will be useful if you lose access to your 2FA app. - After enabling 2FA, you will need to enter a verification code from your 2FA app every time you log in to your AFRIDAX account, providing an extra layer of security. Need Assistance? If you encounter any issues or have questions regarding the deposit process, our support team is available to assist you. Please submit a support request via the platform, and we will promptly address your inquiries. You can view our status page here.

Last updated on Mar 14, 2025