What are the new changes?
Xfers has renamed the Xfers Wallet to StraitsX Personal Account and introduced a new token logo for the StraitsX Singapore Dollar (XSGD). All balances in your StraitsX account will now be reflected as XSGD.
How are my funds affected?
Your funds have been converted from SGD to XSGD at a 1:1 ratio. No fees will be incurred for the SGD to XSGD conversion on the StraitsX platform.
How is trading affected?
There are no changes to the list of supported cryptocurrencies that you can purchase using the XSGD in your StraitsX Personal Account. They include BTC, ETH, BCH, LTC, XRP, CRO, USDC and BNB.
What’s the difference between XSGD in my Fiat Wallet and Crypto Wallet?
The XSGD balance in your Fiat Wallet reflects the XSGD that’s available in your StraitsX Personal Account. Please note that this amount may be different from the XSGD balance in your Crypto Wallet.
For more information about these updates, please visit https://straitsx.com/.
What is StraitsX?
StraitsX is a Singapore-based payment processing gateway offering credit card processing and Internet banking transfers. Visithttps://straitsx.com/ to find out more.
The StraitsX Wallet is regarded as a Widely Accepted Stored Value Facility under Singapore law. In partnership with StraitsX, an approved bank has undertaken full liability for the stored value.
Who can use StraitsX?
Singapore users with residence-based ID documents issued by the Singapore government and a Singapore phone number can use StraitsX.
Which version of the Crypto.com App supports StraitsX?
App version iOS 3.115, or Android 3.115, is required and you must be a Singapore user.
What fiat currency does it support?
XSGD
How does it work?
Have a fully verified StraitsX account (Sign up and complete the StraitsX KYC process if you don’t already have one)
After connecting StraitsX to your Crypto.com App account, you’ll be able to use the funds in your StraitsX account to purchase crypto as well as withdraw XSGD back by selling your crypto.
How to connect StraitsX to the Crypto.com App?
Go to Accounts > Fiat Wallet in the Crypto.com App
Verify your phone number with StraitsX
StraitsX will send a 6-digit one-time password (OTP) to your registered Crypto.com App account phone number
Enter this OTP in the text field and click ‘Verify Phone Number’
Once your phone number is verified, your StraitsX account information and digital wallet balance will be displayed
You will see a confirmation screen when your StraitsX account has been successfully connected to the Crypto.com App
If you do not have a StraitsX account, you will be directed to create one on StraitsX after the phone verification process
If you have a StraitsX account, but the information (e.g. legal full name, date of birth, etc.) does not match with your Crypto.com account, then the connection will need to be manually reviewed
How to buy crypto with your StraitsX wallet?
After successfully connecting your Crypto.com App account to StraitsX, you can proceed to buy crypto using your XSGD funds by:
Tap Buy
Select a supported cryptocurrency*
Choose Fiat Wallet
Select your XSGD StraitsX account
*Supported cryptocurrencies include: BTC, ETH, BCH, LTC, XRP, CRO, USDC and BNB
Why is my connection with StraitsX pending/rejected?
There are 2 potential reasons:
Your StraitsX account is not verified. Please log in viahttps://straitsx.xfers.com/ to complete the verification process.
Your StraitsX account information is not the same as your Crypto.com account information. In this case, please update the information below in your StraitsX account to match that of your Crypto.com App account and try again.
Full name
Date of birth
Email address
Phone number
How long does it take to buy crypto with my StraitsX Wallet?
Crypto transactions in the Crypto.com App are instant.
What are the fees for using StraitsX in the Crypto.com App?
Buy crypto with StraitsX: 0.5%
Sell crypto to StraitsX: 0.5%
What are the daily/monthly StraitsX limits?
Buy crypto - XSGD 5,000 per transaction and XSGD 30,000 per year
Sell crypto- XSGD 20,000 per day* or USD 500,000 per month
*This daily limit is shared with the total Crypto.com App withdrawal daily limit of USD 100,000.
How to sell crypto to StraitsX?
After successfully connecting your Crypto.com App account to your StraitsX account, you can proceed to sell crypto by:
Tap Sell
Select a supported cryptocurrency*
Choose Fiat Wallet
Select your XSGD StraitsX account
*Supported cryptocurrencies include: BTC, ETH, BCH, LTC, XRP, CRO, USDC and BNB
Can I top up my Crypto.com Visa Card using StraitsX?
We are working to introduce this feature—stay tuned!
I have more questions about StraitsX, where can I find the answers?
StraitsX FAQ -https://support.straitsx.com/hc/en-us
StraitsX Website -https://straitsx.com/