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Convert FAQ

MaiCoin
Modified on: Fri, 21 Jun, 2024 at 11:37 AM
  1. What is MAX Convert?
    1. Users can quickly convert crypto or fiat currency for another without trading directly through the order books.
    2. When users choose the assets to convert, MAX will provide a consolidated conversion price from the order book. Once confirmed, the transaction takes place at that price immediately.
  2. How does MAX Convert differ from order book trading?
    1. Users using MAX convert can immediately get a quote and decide whether to accept the trade, ideal for small trades.
    2. The service allows direct conversion of one asset to another, eliminating the need for multi-leg trades manually.
  3. Are there limitations to MAX Convert?
    1. Limitations:
      1. Single transaction limit varies by currency, maxing at $30,000 TWD. Please refer to the service page for exact details.
      2. No minimum transaction limit, allowing conversion of low-balance assets, down to 8 decimal places.
    2. Rate limit: Ten conversions per minute.
  4. When to use the Convert service?
    1. Convert low-balance assets.
    2. Quick asset conversion.
    3. Use in conjunction with other features like MAX Staking, trading robots, and M-wallet repayments.
  5. Which crypto does MAX Convert support?
    1. Virtually all assets tradable on MAX are supported, excluded MASK. 
    2. Refer to the app or website for real-time availability.
  6. Why does the convert page show I’m converting to zero amount of crypto?
    1. After MAX quotes a conversion rate, if the converted-to quantity is less than the eighth decimal place, users will receive zero amount of crypto once the request is executed. In this scenario, MAX will remind the users that the conversion returns zero balance, and users should consider their own needs before proceeding with the conversion.
  7. How to convert?
    1. Find “Convert” on the app homepage.
    2. Agree to the Convert service terms.
    3. Select “from” currency, quantity, and “to” currency.
    4. Confirm price and execute the conversion.
    5. After completion, view the conversion details.
  8. Supported wallet
    1. Only “tradable“ assets in the spot wallet can be used for conversions.
  9. Conversion fees:
    1. Fees have beed already deducted from the received assets, no additional fees need to be paid.
  10. Convert Service Terms

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