How do I buy/sell using a national currency?
The most common way to obtain digital assets is to make a purchase using a national currency – either directly from a licensed provider or on an exchange licensed to allow such trades. Similarly, licensed providers are required if you wish to sell your investments back for national currency.
Nash has licensed currency partners around the world who offer buying and selling services directly within our platform. The digital assets you purchase from these providers will be deposited directly into your personal account.
To make use of these services, you will have to complete the following steps:
- Create an account with one of our partners (“digital asset providers”)
- Create an identity verification profile for that account
- Add a payment method
- Place your order
Please note that the verification process for raising your trading limits on the Nash Exchange is separate from the verification process for buying and selling through our partners.
Each digital asset provider has their own Know Your Customer (KYC) process. If you create multiple accounts with different providers, you will need to complete an identity verification profile for each of them.
Creating a partner account
- Navigate to the “Buy/Sell” screen and select a digital asset provider currently operating in your jurisdiction.
- Enter your name, email address and residential address to set up your provider account. You can do this quickly by following the on-screen instructions to share your existing Nash account information with a provider.
Creating an identity verification profile
To make use of your partner account, you will have to create an identity verification profile.
- Navigate to the “Profile” tab at the center of the “Buy/Sell” screen. You will be able to fill out your information in the “Profile details” section.
- Fill in all the required fields and follow any on-screen instructions. Be careful to follow our document capture guidelines when scanning your identity documents.
- When all required fields have been completed, your details will be submitted automatically and the review process initiated. This can take a number of days. The status of your profile review will be displayed in the “Profile” tab.
If you edit any profile details after the review process has begun, it will reset. You may hence have to wait longer for approval.
Similarly, if you edit any details once your profile has been approved, it will be resubmitted for review and your ability to buy and sell using this partner account will be frozen until your new details are approved.
Adding a payment method
Navigate to the “Payment methods” tab at the center of the “Buy/Sell” screen. This will allow you to add or remove payment methods (e.g. bank accounts and credit cards) supported by your chosen digital asset provider.
Placing an order
Once you’ve set up your account, created your identity verification profile and added a payment method, you’re ready to go!
- Navigate to the “Buy/Sell” tab, which is the first option in the center of the “Buy/Sell” screen. If you have accounts with multiple providers, you have the option of switching between them by choosing the “Change provider” option.
- Follow the on-screen instructions to select a digital asset, whether you wish to buy or sell and your payment method. (Please note: these options may differ, depending on the provider in question.)
- If you are buying, our partner will offer you an exchange rate based on the current market price. Specify how much you wish to buy or sell and click “Review before buying”. Once you have reviewed your order, you can confirm your purchase. The exchange rate will now be locked.
- If you are selling, our partner will offer you a quote based on the current exchange rate. You will be provided with an address to which you must send the digital asset you are selling. You can do so using the “Send/Receive” button on the “Funds” page.
Once your transaction to this address has cleared, your funds will be converted into national currency and credited to your account.
The exchange rate used is the current market rate when your transaction clears. Please note that the longer you wait to send your assets after receiving your quote, the more likely it is that the exchange rate will have changed.
You can view the status of your transactions with our partners in the “Transactions” tab of the “Buy/Sell” screen.