Depositing US Dollars (USD) on MidChains

Owned by Egya (Unlicensed)
Last updated: Dec 19, 2023 by Technology
2 min read

MidChains only supports bank transfers for all fiat deposits at this time. Fiat deposits via credit or debit cards and all other Third-Party payment systems are not supported on the platform. Fiat deposits onto the MidChains platform are initiated in the form of a wire transfer from your local or international personal Bank Account into MidChains’ Client Money Account via third party Banking Partner(s). Any currency other than US Dollars deposited into your MidChains Bank Account will be converted to US Dollars at our Bank’s prevailing exchange rate.

  • Please note: Minimum deposits is USD50,000.

Please follow the steps below on how to deposit into MidChains.

  • Navigate to the trading portal and select Portfolio on the left-hand side of the dashboard.

  • Click the Funds tab then on the View Options button.

  • Click Deposit for US Dollars to display the Deposit Details.

 

 

 

 

  • Initiate a wire transfer from your local or international bank to the MidChains’ Client Money Account and ensure to provide the following details displayed in the Deposit Details section:

    1. The Reason of Payment details - Reason of Payment: 151.348.1175

    2. Your MidChains assigned unique Reference Number displayed in this format: MIDC-XXXX-XXXX

 

 

  • MidChains will credit funds received to your MidChains Account which will reflect in your fiat balance in USD under the Available balance column.

  • All transfers must be made from an account registered in the same name as your MidChains account, using English characters only.

  • You can monitor the status of your deposits by navigating to the History tab. The History tab displays details of all USD transactions (Deposits and Withdrawals).