KuCoin AMA with PIX&TED and Advcash — The Best Payment Methods for Local Users

2022/05/05 11:05:39

Dear KuCoin Users,

Time: April 27, 2022, 11:00-12:23 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the core team of Capitual (PIX&TED), Jefrey and Gustavo, and the Head of Communications and PR of Advcash, Andrew K., in the KuCoin Exchange Group.

Project Introduction

Capitual is a service that allows Brazilian users to deposit/withdraw through PIX (Instant Transfer) & TED (Regular Transfer) and buy/sells USDT using local currency directly via KuCoin's platform.

TED Transfer

TED stands for Transferência Eletrônica Digital (Electronic Digital Transfers) and is a bank transaction method invented by the Central Bank of Brazil in 2002 to speed up clearing time and enhance the security of bank transfers. Before its creation, existing methods only cleared transactions within 3 business days, so TED made it possible to clear transactions in one day, as long as the transfers were made on working days before 5 pm. And even though banks charge fees over this type of transaction, they have always been cheaper than in other transfer methods used previously. Also, when TED transfers are made online, the fees charged are often even cheaper.

PIX Transfer

PIX is the most recent payment method created by the Central Bank of Brazil in 2020. It allows free instant transfers at any time of the day between individuals, companies and the government. With PIX, transfers can be made in up to 10 seconds, and one of its biggest differentials was the possibility of registering a "PIX Key" in your financial institution, such as your telephone number, your personal document (CPF), e-mail address, or even creating a "random key". Pix has quickly become Brazil's most popular payment method due to its high speed and low cost.

One of the goals of PIX is to encourage a reduction in the use of physical currency and the possibility of lowering the rates of digital payments like the old methods, TED Transfer and DOC Transfer.

Advcash

Advcash is a payment platform combining crypto, fiat, and prepaid card features. Launched all the way back in 2014, today, Advcash has millions of users in over 200 countries and is featured on the world’s largest crypto exchanges, including KuCoin, Binance, and many others. Within Advcash, e-wallets in USD, EUR, RUB, UAH, KZT, BRL, VND, TRY, and GBP are available, with a choice of international and local deposit and withdrawal options. In terms of crypto, Advcash supports BTC, ETH, LTC, BCH, XRP, ZEC, TRX, DOGE, SHIB, BNB, USDT, USDC, DAI. Free instant P2P transfers help people send and receive money worldwide. For easy spending, customers can choose from Visa and UnionPay prepaid cards in EUR and USD, depending on the region. Advanced account protection tools and 24/7 live agent support in tickets and chat make Advcash a dependable payment platform trusted worldwide. Advcash is featured on numerous crypto exchanges, e-currency exchange platforms, and many other businesses. Merchants can choose from various tools to process both fiat and crypto and set up custom payment flows. Advcash never stops adding features, striving to become the one-stop place for all your fiat and crypto payment needs, wherever you are.

Capitual (PIX&TED): https://capitual.com/

Follow Capitual (PIX&TED) on Twitter and Instagram.

Advcash official website: https://advcash.com/en

Follow Advcash on Twitter and Telegram.

Guests:

Jefrey Santos — CTO of Capitual (PIX&TED)

He is a blockchain engineer and full-stack developer with professional experience in developing services related to blockchain, DApps, crypto-exchange, and various Mozilla products.

Gustavo Rezende — COO of Capitual (PIX&TED)

Before joining Capitual, Gustavo Rezende worked at Banco Santander and Thomas Greg & Sons as an Information Security Analyst and held a PUC degree in engineering.

Andrew K. — Head of Communications and PR of Advcash

He oversees communications, public relations, and related things within the marketing department of Advcash. I have a background in linguistics and economics, so you could say my work is a mix of these things. I try to get involved in pretty much every aspect of the operation, making sure everything important is communicated as clearly as possible.

Q&A from KuCoin

Q: What is the Deposit limit for PIX/TED?

Jefrey: The deposit limit for both PIX and TED will be capped at 1 million BRL per single transaction.

Q: What is the Withdrawal limit for PIX/TED?

Jefrey: At the moment, the withdrawal limit is capped at 10,000 USD per day (about 50,000 BRL now).

Q: How could the users navigate the PIX/TED payment option on KuCoin?

Jefrey: You may go to the “Fast Buy” option. Simply select “BRL” as your deposit currency, then you will see “PIX/TED” as an option. According to the instructions, provide the required data to enable PIX/TED deposits on your account and make the payment. Clear guidelines are provided at the KuCoin help center.

Q: Does the Deposit of PIX/TED instant?

Jefrey: For the PIX payment option, the deposit is made in just a few seconds, and the funds will be available directly on your BRL wallet. At any time: holidays, weekends, at night.

For TED, the clearing will happen within one working day. It is important to remember that TED only works during business days, from 7 AM to 5 PM (starting time may vary from bank to bank).

We positively recommend using Pix for a better experience, lower fees, a quicker settlement time, and the possibility of sending the transfer to start trading at any time of the day and any day of the week!

Q: Is there any fee incurred during Deposit and Withdrawal?

Jefrey: For deposit: ZERO fees.

For withdrawals: a flat and very minimal fee of 2.6 BRL per transaction (no matter what amount you want to withdraw).

The good news is that, during the event period from 10 AM on April 29, 2022, to 10 AM on May 9, 2022 (UTC), KuCoin offers both deposits and withdrawals with Zero fees!

Q: Does Advcash require KYC for its users?

Andrew: Yes, verification is required to unlock the entire range of Advcash features and use full transaction limits. After verification, you will be able to take advantage of all types of deposit and withdrawal options available in your country. To get verified, users need to:

⁃ Accept the Advcash Terms & Conditions and Privacy Policies.

⁃ Submit their Selfie along with a government-issued ID.

⁃ Provide a Proof of Address if users want to send funds via SEPA bank transfer to their Advcash wallet or order ADV cards.

Q: What are the deposit and withdrawal options in Advcash?

Andrew: The Deposit Funds section shows all available ways to fund your account. There’s crypto, SEPA bank transfers, credit cards, transfers from other users, etc. Same for withdrawals, with the addition of local bank transfers in a range of international currencies.

You can use any available option or check what e-currency exchanges are offering. If you do not see an option, it means that we do not currently have it, or it is not available at the moment.

CEC can be used for staking and allow you to vote on important designs for the future of the game. We are upgrading in-game assets and purchasing NFTs.

Withdrawal methods are listed in the Send Funds Section. Depending on the method, you can send money either to yourself or another person. Details, terms, and fees for each method are shown on its page.

Q: How secure is it using Advcash?

Andrew: Advcash is strongly focused on the security of its users' funds and personal information. More and more reputable financial and crypto businesses use our platform, which we believe shows that our systems are secure and trustworthy on a day-to-day basis. We recommend that users use as many Advcash security settings as possible, such as 2-factor authentication via SMS and/or OTP tokens, Intelligent Identification that checks logins for certain parameters, IP Address Binding, and custom Transaction Password and a PIN code card for transaction approvals. All these things are easy to find in the settings.

Q: Can Ukrainian and Russian users still use Advcash?

Andrew: Yes, they can. If they find deposit or withdrawal options limited at the moment, they can select the Cash tab in the Deposit or Send category and choose their country from the list at the top. Local cash options will show up, and you will see the contact information for the third-party services that provide the cash exchange. Contact the service for details and arrange the exchange to fund your Advcash wallet or withdraw funds.

Q: Does Advcash have a Referral Program?

Andrew: Yes, totally. Our referral program lets you make money by recommending Advcash to your users, readers, customers, or even friends. It is a very important driver of new users for us. Whenever someone signs up via your referral link and makes a paid transaction, you get 20% of our profit from this transaction. You also get a fixed amount whenever your referrals activate the Advcash cards they ordered. Your referral link and reward history are available in the Referral Program section of your Advcash account.

Free-Ask from KuCoin Community

Q: Does the KuCoin account holder have to be the same account holder via PIX/TED to successfully realize the deposit? When will cashout in BRL be available at KuCoin?

Gustavo: You are right! Make sure they're both under your ownership to transact funds between your bank account and your KuCoin account!

Q: What is the difference between PIX and TED? Which one do you guys prefer using?

Jefrey: PIX is a more recent protocol launched by the Central Bank in 2020. Ted has more history. However, PIX works pretty fast, with most of the transfers executed in just 10 seconds; meanwhile, TED might take some time to settle (from 10 minutes to 24 hours). Also, you can send and receive PIX at any time, even during the night or on holidays, and TED is limited to the “banking time”, which is only working days from 7 AM to 5 PM. For this reason, we always suggest using PIX!

Q: Is BRL the only supported currency in using PIX&TED?

Jefrey: Yes. Currently, both PIX and TED protocols only allow transacting Brazilian Real. However, the Central Bank has plans to add support for more fiat currencies in Pix with the “International Pix”. We are keeping an eye on that!

Q: For deposits using PIX/TED, there will be zero fees. How about withdrawal? What's the current fee rate? How about for AdvCash? What are the fee rates for deposit and withdrawal?

Andrew: Zero fees for Advcash as well! Both for deposits and withdrawals.

Gustavo: For withdrawals using PIX/TED, you will only be charged a flat fee of 2.6 BRL. This means that the fee will remain the same and will not increase with the value you are withdrawing. Also, between April 29, 2022 and 10 AM on May 9, 2022 (UTC), you will enjoy free withdrawals on KuCoin for Pix and Ted!

Q: How secure and fast do the KuCoin Advcash and PIX&TED Transfers are than other services? What will be the future feature?

Jefrey: PIX and TED are standards created by the Central Bank of Brazil. You can use Pix and Ted by simply having a bank account in any bank in Brazil.

There is so much coming on! We are working to provide more features, and surely we will be tracking every improvement on Pix (since it is a recent launch) to bring it to KuCoin users!

Q: DeFi is one of the hottest topics in the blockchain field. Can you share your opinion about DeFi with us? Do you think DeFi will destroy the existing financial system? What's your project approach toward DeFi?

Jefrey: We are sure this is something many users would like to know. Thing is, we do not just add currencies, we always try to add local features in these currencies so that users can deposit and withdraw with minimal fees right away. It takes time to prepare all this payment infrastructure, so adding new currencies does not happen very often yet. Recently we added VND and TRY, and we do not plan to stop. We are always on the lookout for new features for our users, so please stay tuned.

Q: Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So, I'd like to know who your ideal consumer is for your product?

Andrew: We always try to include as much feedback into our processes as possible, both positive and negative. We analyze feedback in support tickets, on external websites and blogs, and we even run user interviews occasionally. Our ideal client would be a crypto trader, investor, freelancer, digital nomad, and someone who wants to embrace as many new payment features as possible.

Q: Can you share your social media links so we can keep ourselves updated?

Andrew: Follow our Twitter and join our Telegram channel.

Jefrey: Sure! Meet us on Twitter and Instagram.

Q: How long would it usually take once a user deposits using PIX&TED?

Andrew: We really suggest using PIX instead of TED, as the funds will be located in your KuCoin BRL wallet in just a few seconds!

Q: You are required to use a bank transfer under your ownership to receive withdrawals. This means that if you lose your phone, a third party could only send your BRL funds from your KuCoin account to a bank account that you own. That said, make sure to set enough security measures, such as PIN code and face recognition, on your phone for opening your bank accounts.

Andrew: We encourage everyone to try and see for themselves, but in our opinion, Advcash can work great for anyone in the crypto scene, whether trading, investing, doing arbitrage, etc. Advcash e-wallets are supported on more and more exchanges, so you can easily swap funds between exchanges, etc. Our crypto to fiat and fiat to crypto conversion tools are pretty strong.

Q: What is your safety net? Is it safe to use Advcash?

Andrew: We have been in business since 2014, currently processing tens of millions in payments every month, with no safety issues whatsoever for all this time. We understand how important it is to keep data and funds safe at all times. For maximum peace of mind, we suggest using 2FA with one-time password tokens and taking basic security precautions. Do that, and you will never have to worry about staying safe with Advcash.

Giveaway Section

KuCoin and PIX&TED (Capitual) and Advcash have prepared a total of 500 USDT to give away to AMA participants.