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  4. How do I use the Crypto Converter?

How do I use the Crypto Converter?

The Phemex Crypto Converter allows you to instantly convert your Crypto into USD, to be used for the USD Contract Trading Account. To learn more, please read “What is the Crypto Converter?

Besides the main Crypto Converter Page, we have also integrated the Convert function into other areas of our platform. For your convenience, there are three ways to convert between your Crypto and USD.

Crypto Converter Page

  1. Log in to Phemex.com and hover your mouse over the Products option in the header of the page.
  2. From the drop-down menu, click on Convert.
  3. On the Crypto Converter page, from the first drop-down menu, select the Crypto or currency you wish to convert and enter the amount into the From field.
  4. From the second drop-down menu, select the Crypto or currency you wish to convert to.
  5. Once you have entered the desired amount, the Get Quotation button will be enabled.  NOTE: If you are converting into either USD or BTC, an option to instantly transfer these assets to fund one of the Contract Trading accounts will be checked by default. If you wish to keep these funds in your Spot Wallets, uncheck the box.
  6. Click the Get Quotation button to display the amount you will receive at the current conversion rate. The quotation is valid for 7 seconds. If the time expires, you will have to click the new Get Quotation option again.
  7. If you are satisfied with the amounts, click the Confirm button.
  8. A pop-up window will indicate if your conversion was successful. If it was, you can click the Trade Now button to jump to the appropriate Contract Trading page or click Done to return to the Converter page.

Spot Wallets Page

  1. Log in to Phemex.com and hover your mouse over the Assets option on the top-right corner of the page.
  2. From the drop-down menu, click on Spot Wallet.
  3. On the Spot Wallets page, all convertible assets will have a Convert option under the Action column. Click the Convert option that corresponds to the asset you wish to convert. NOTE: Alternatively, you can also click the Quick Conversion option on the top-right of the second (wallets) module on the page. This option will take you to the Crypto Converter page. If you choose this option, follow the instructions for the Crypto Converter Page.
  4. On the Convert pop-up window, from the first drop-down menu, select the Crypto or currency you wish to convert and enter the amount into the From field.
  5. From the second drop-down menu, select the Crypto or currency you wish to convert to.
  6. Once you have entered the desired amount, the Get Quotation button will be enabled.  NOTE: If you are converting into either USD or BTC, an option to instantly transfer these assets to fund one of the Contract Trading accounts will be checked by default. If you wish to keep these funds in your Spot Wallets, uncheck the box.
  7. Click the Get Quotation button to display the amount you will receive at the current conversion rate. The quotation is valid for 7 seconds. If the time expires, you will have to click the new Get Quotation option again.
  8. If you are satisfied with the amounts, click the Confirm button.
  9. A pop-up window will indicate if your conversion was successful. If it was, you can click the Trade Now button to jump to the appropriate Contract Trading page or click Done to return to the Converter page.

Contract Trading Accounts Page

  1. Log in to Phemex.com and hover your mouse over the Assets option on the top-right corner of the page.
  2. From the drop-down menu, click on Contract Account.
  3. On the Contract Trading Accounts page, both the Transfer In and Transfer Out actions will give you access to the convert function. Click any of these options.
  4. On the top of the pop-up window, click the Convert tab.
  5. From the first drop-down menu, select the Crypto or currency you wish to convert and enter the amount into the From field.
  6. From the second drop-down menu, select the Crypto or currency you wish to convert to.
  7. Once you have entered the desired amount, the Get Quotation button will be enabled.  NOTE: If you are converting into either USD or BTC, an option to instantly transfer these assets to fund one of the Contract Trading accounts will be checked by default. If you wish to keep these funds in your Spot Wallets, uncheck the box.
  8. Click the Get Quotation button to display the amount you will receive at the current conversion rate. The quotation is valid for 7 seconds. If the time expires, you will have to click the new Get Quotation option again.
  9. If you are satisfied with the amounts, click the Confirm button.
  10. A pop-up window will indicate if your conversion was successful. If it was, you can click the Trade Now button to jump to the appropriate Contract Trading page or click Done to return to the Converter page.

For any inquiries contact us at support@phemex.zendesk.com .
Follow our official Twitter account to stay updated on the latest news.
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