Ternion Frequently Asked Questions
  • What is Ternion Exchange? Ternion is a hybrid crypto exchange with a fiat gateway and integrated merchant services. Ternion is licensed by the Financial Intelligence Unit of Estonia, and holds two licenses: №FVR000209, №FRK000174.
  • Is it safe to use Ternion Exchange? Customer safety is our priority. We are committed to ensuring a safe trading environment for our users, customer funds are stored in segregated accounts at all times. To keep the integrity of the Exchange, we also follow KYC and AML strict policies to ensure safety of the users.
  • How does it work? We take traditional currency deposits on one side and cryptocurrency deposits on the other side of the trade, then we provide a safe environment where our customers can exchange currencies or trade on the margin.
  • How to Register? 1. Click ‘Sign up’
    2. Fill in a small form for new users
    3. Click ‘Register’
    4. Check your email for a registration link
    5. Click on the link
    6. Sign in with your credentials
  • What account types do you offer? In order to start trading, you should first verify your account. You can choose between:
    1. Personal accounts - intended for personal, non-commercial use only.
    2. Corporate accounts - intended for business purposes and used by legal entities.
  • How to verify your accounts? 1. When logged in to your Account, on the left side menu, find a verification icon.
    2. Once you click on it, you will be asked to choose a personal or a corporate account.
    3. When you choose your account, you will see a list of documents you need to submit to pass KYC.
    Please ensure that all the documents submitted are in high resolution, color image files in one of the type of extensions: jpeg, jpg, png, and are not larger than 5MB.
  • How do I know once I am verified? If the verification has been successful you will receive an email confirming it, however, if some of the documents have been declined you will receive a request to re-submit documents. Please do so in a timely manner to make the experience on the exchange as efficient as possible for you.
  • Why do I have to verify my identity? Ternion is a registered Exchange in Estonia and therefore follows strict KYC & AML policies outlined by the Financial Intelligence Unit (FIU).
  • I have trouble submitting my documents Try uploading them again and make sure you don’t hit refresh button before the submission has been completed. Also make sure that your files are in JPG, PNG or PDF file formats and not larger than 5MB. If the problem persists send us a ticket from your Account or contact us at support@ternion.io
  • How can I deposit the funds? To deposit the funds, go to ‘Deposit’ in your Account and choose one of the following options: Bank Transfer, SEPA, Credit Card, BTC, ETH. After, follow the instructions on the screen carefully to successfully deposit money.
  • How can I start trading? Once your account has been verified and you have deposited the funds, you can select the order type you wish to place by clicking on Buy/Sell at the top of your Account.
  • What is instant order? An instant order is an order type, which executes immediately under the current price on the market and is therefore simple to use. We recommend instant orders for users who would like to make a trade immediately. In case your amount exceeds the currently available amount of the desired cryptocurrency at that price, our trading engine will reposition your order to the current order book offer every second.
  • What is Limit order? Limit order gives you the power to set a specific price at which you would like to buy or sell the desired amount of cryptocurrency. When the market reaches your set price, an instant order is triggered, and your limit order gets executed. If the market price is already lower than your set price, the condition for your limit buy order is already met and your order will be executed immediately, at an even lower price than specified.
    Note: If the market is very volatile, your limit order may not be carried out in full. If your desired amount of cryptocurrency cannot be purchased under the set price, only a part of your order will be carried out (for example, if you want to buy 100 BTC, but the market price only drops to your chosen value for such a short time that just 80 BTC is available under the conditions of your limit order).
  • What is market order? A market order is an order type that enables you to buy or sell at the best available market price. Using this order type, you are able to express the amount of the cryptocurrency you wish to buy or sell. Sometimes, it is possible to open an order at a better price in comparison to instant order.
  • What is stop order? Stop orders are usually used to limit potential losses in case the price suddenly rises or drops. When you place a stop order you set an entry/exit price point. Once the price surpasses the predefined entry/exit point, the stop order becomes an instant order and gets executed. Example of stop sell order: If the current market price is 10000 USD for 1 BTC and you wish to prevent potential losses, you may set a stop sell at 9000 USD for 1 BTC. If the price drops to 9000 USD for 1 BTC, your stop sell order will be executed and your BTC will be sold. Example of stop buy order: The current market price is 10000 USD for 1 BTC. The trader in a short position might want to set up a stop buy order for BTC at 11000 USD for 1 BTC. The price then continues to rise to 12000 USD for 1 BTC, so the trade has made a profit.
  • SLIPPAGE NOTICE Please note that stop sell orders work in a way that when the price drops and the order is triggered, an instant sell order is placed on the market. However, do keep in mind that stop orders are not a 100% guarantee of getting the desired entry/exit points. Slippage may occur when the volatility of the market makes an order at a specific price impossible to execute and close. In such an instance, the stop order will execute the trade at the next best price.
  • What is the difference between a limit order and a stop order? A limit order will only execute if your conditions have been met – you will get exactly the price you chose or better. If there is not enough of the cryptocurrency available on the market at the price you chose, only a part of the limit order will be executed. A stop order will execute when the market reaches the conditions you have set, but will continue to be carried out in full, even if the conditions worsen while the order still hasn’t closed. This comes into play when the market is very volatile, and it is not possible to complete your entire order before the price changes.
  • How do I withdraw my digital money? To withdraw your money can go to ‘Withdraw’ in your Account and choose the preferred method of withdrawal, please follow the instructions carefully as not to cause unnecessary delay. You can use an International wire transfer, SEPA, Ethereum or Bitcoin addresses, or VISA and MasterCard Credit Cards.
  • What is Bitcoin? Bitcoin is the first cryptocurrency ever created. It uses cryptographic methods to create a currency that is not controlled by a single entity (like a central bank). You can send Bitcoin directly to anyone with a BTC address, without a middle man.
  • How to buy Bitcoin? 1. Deposit your funds to your account.
    2. Go to ‘Buy/Sell’
    3. Choose your preferred trading pair and how much you wish to spend, then place the order.
    4. Confirm order and click “buy BTC”
  • What is Ethereum? Ethereum provides a cryptocurrency token called “Ether”, the crypto-fuel for the Ethereum network. Ethereum is a distributed blockchain based platform that runs smart contracts. This technology enables the system to move value, store registered debts or data, and provide safe exchange of valuable information between its users, all without a middle man or counterparty risk.
  • How to buy Ethereum? 1. Deposit your funds to your account.
    2. Go to ‘Buy/Sell’
    3. Choose your preferred trading pair and how much you wish to spend, then place the order.
    4. Confirm order and click “buy ETH”.
  • Ethereum Transaction in Ternion All outgoing Ternion Ethereum transactions are generated from smart contracts. We strongly suggest you contact the sending/receiving service prior to initiating an Ethereum transaction to/from your Ethereum account, to make sure that they support transfers initiated by executing a smart contract, also known as internal transactions. Please do not withdraw directly to an ICO address. In case of a refund, your account will not be automatically credited. If you wish to participate in an ICO (Initial Coin Offering), always withdraw to your Ethereum private wallet first.
  • What is SEPA Transfer? SEPA stands for Single Euro Payments Area. A payment integration initiative of the European Union of bank transfers denominated in euro. SEPA consists of the 28 member states of the European Union as well as the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland), Monaco and San Marino.
  • How do I deposit via SEPA transfer? 1. Login to your Ternion Account
    2. Choose Deposit->SEPA Transfer
    3. Select which balance you wish to be credited and enter the amount you will be sending.
    4. Click ‘Deposit’
    5. Our bank details shall be provided – make a transfer via your bank – make sure to include your personal message number as a transfer reference.
  • Transfer your funds to Ternion via SEPA. Please note that simply opening a deposit on Ternion WILL NOT transfer your funds. You need to transfer them yourself, using a SEPA order at your bank. Please note that if you wish to credit your USD balance, your EUR funds will be converted to the selected balance currency (USD) by our bank.
  • What is an international wire transfer? International wire transfer deposit is recommended for customers outside of the European SEPA zone.
    International Wire transfer deposits usually take 2-5 business days to arrive at our bank account (weekends and bank holidays excluded).
  • How do I deposit via international wire transfer? 1. Login to your Ternion Account
    2. Choose Deposit->Bank Transfer.
    3. Select which balance you wish to be credited and enter the amount you will be sending.
    4. Click ‘Deposit.’
    5. Our bank details shall be provided – make a transfer via your bank – make sure to include your personal message number as a transfer reference.
    6. Please write “Investment” as the reason for transfer or transfer information. Please note that simply opening a deposit on Ternion WILL NOT transfer your funds. You need to transfer them from your bank yourself.
  • How long does a bank deposit usually take? An international bank wire transfer typically takes 2 – 5, while SEPA transfer takes 1 - 3 business days (weekends excluded) to reach your Ternion account. In case you choose SEPA deposit to be added to your USD balance, it must go through the additional step of converting funds to USD (Because SEPA is Euro based).
  • Where is my deposit? We are on the lookout for your deposit and will process it as soon as possible, once it arrives at Ternion:
    • An international bank wire transfer typically takes 2 – 5 business days.
    • A SEPA transfer usually takes 1 - 3 business days. If your transfer hasn't arrived within the time frame, please contact your bank, check if the transfer was successful and request a transfer receipt. Once received, please send the receipt to our support email: support@ternion.io or attach it to your support ticket and we shall take further action.
  • Who pays deposit fees? SEPA deposits are 15 EUR, whereas International Wire transfers carry a 0.05% fee, with a minimum fee of 7.50 USD/EUR on our end.
  • Why did I receive less than I have deposited? Some banks need corresponding or intermediary banks to process wire transfers, and this may incur additional charges. The intermediary bank will deduct the fee from the transferred amount, which is why the amount you receive on your Ternion account is less than the amount you sent. The fee charged on our end is always stated in the Transactions section on your account. For more details on intermediary bank fees, please contact your bank.
  • What is a third-party deposit? Third-party transfers are those transfers that originate from a bank account titled in a name different from the Ternion Exchange Account Owner’s. Third-party transfers are not allowed on our platform, so please make sure that all transfers to your Ternion account are made from a bank account held in your name.
    If a deposit is made from a bank account registered to a different person than your Ternion account, it will be automatically sent back to the original bank account. This may incur extra transaction fees.
  • I have an account at an EU bank. Can I deposit USD through SEPA? All SEPA transfers are strictly denominated in EUR. We will receive SEPA transfers in EUR. If you choose a SEPA deposit to be added to your USD account balance, it must go through the additional step of converting funds to USD subject to the exchange rate of our bank.
  • How can I buy cryptocurrency with Credit card? Credit card purchases enable super easy and instant acquisitions of your favourite cryptocurrency. If you have a Visa or MasterCard branded credit card and if our credit card purchase option is supported by your country, you may opt for this method.
  • How do I initiate a credit card purchase? 1. Go to ‘Deposit’ and choose ‘credit card’ from the pop-up menu.
    2. Choose which cryptocurrency you would like to buy (BTC or ETH).
    3. Choose which currency (USD, EUR) you will use to pay.
    4. Choose how much currency you would like to purchase.
    5. Enter your credit card details.
    6. Click ‘BUY’. In the event of a sudden price change of the selected cryptocurrency at the time of your purchase, your credit card deposit will be added to your Ternion account balance in the currency selected. Our fee schedule can be viewed here.
  • Is the currency price locked when I click the desired deposit amount? In the event of a sudden price change of the selected cryptocurrency at the time of your purchase, your credit card deposit will be added to your Ternion account balance in the currency selected. Our fee schedule can be viewed here.
  • Bitcoin deposit 1. To deposit Bitcoin, select “Deposit” in your Account.
    2. Select “Bitcoin” in the drop-down menu.
    3. You should see your Bitcoin address displayed. This address is used for making deposits into your Ternion account.
    If you wish, you can request a new deposit address every 24 hours.
  • How long do I need to wait for my Bitcoin deposit? We require 3 network confirmations on our end and it may take up to 1 hour for the Bitcoin network to confirm the transaction.
  • Ethereum Deposit 1. To deposit Ethereum, select “Deposit” in your Account.
    2. Select “Ethereum” in the drop-down menu.
    3. Before your first ETH deposit, you will need to generate your Ethereum address.
  • How long do I need to wait for my Ethereum deposit? It may take up to 1 hour for the ETH network to confirm the transaction. Please note that 12 network confirmations are required.
  • How long does a bank deposit usually take? An international bank wire transfer typically takes 2 – 5, while SEPA transfer takes 1 - 3 business days (weekends excluded) to reach your Ternion account. In case you choose SEPA deposit to be added to your USD balance, it must go through the additional step of converting funds to USD (Because SEPA is Euro based). If you are transferring one of the following currencies: AUD/CHF/CAD/GBP/YEN – Or if you are transferring USD and wish to credit EUR balance and vice versa, it shall be converted to USD or EUR according to the exchange rate of our bank.
  • Who pays the withdrawal fee? Whatever withdrawal method you choose, a withdrawal fee will be deducted from the amount you entered in the withdrawal form.
  • SEPA withdrawals SEPA withdrawals are charged with a fixed 15 EUR fee once your funds are converted to euro. In case the withdrawal is requested to be deducted from EUR balance, no currency conversion will take place. Minimum amount for SEPA withdrawals is 10.00 EUR.
  • International Bank Withdrawals To withdraw your funds to your personal bank account, choose Bank Transfer from the drop-down menu of ‘Withdraw”. Make sure you enter all of your bank account details correctly to avoid any further delay. International withdrawals will be charged with 0.09% fee, minimum fee is 15 USD/EUR on Ternion's end and may incur additional international bank fees. Minimum amount for international withdrawal is 50 USD/EUR.
  • Credit Card Withdrawals From your Ternion Account choose Withdraw->Credit Card. Withdrawal of funds is possible only to VISA and Mastercard. Cost of funds transfer is 4% of the amount of output and 7.5 USD per one transaction. Maximum amount per transaction is 2000 USD. The number of transactions is not limited. Withdrawals are made within 5-6 working days.
  • How to withdraw bitcoin? 1. To withdraw Bitcoin, choose ‘Withdraw’ in your Account.
    2. Select “Bitcoin” from the pop-up menu of options.
    3. Enter the withdrawal address, the sum of BTC to be withdrawn and click “Withdraw”.

    Since Bitcoin transactions are irreversible, please always make sure to double-check the receiving address before initiating a bitcoin transaction.
  • How much does a Bitcoin withdrawal cost? Bitcoin withdrawals are 0.14 BTC on our end.
  • How to withdraw Ethereum? 1. To withdraw Ethereum, choose ‘Withdraw’ in your Account.
    2. Select “Ethereum” from the pop-up menu of options.
    3. Enter the withdrawal address, the sum of ETH to be withdrawn and click “Withdraw”.
  • How much does an Ethereum withdrawal cost? Ethereum withdrawals are 0.0005 ETH on our end.
  • Where can I see my transactions? You may find your transactions under ‘Transactions’ in your Ternion account.
  • How do I change my email address? If you wish to change your current email address, we will need to assist you with that. Please send your request through a support ticket or contact our support team at support@ternion.io
  • I don’t receive email notifications from Ternion. 1. Check your e-mail settings and make sure there are no filters and/or other security systems which are blocking Ternion’s e-mails.
    2. Please also check your spam/junk folder to see if the emails may have wound up there.
    Does the issue persist? Please open a support ticket or contact our support team at support ticket or contact our support team at support@ternion.io
  • I lost my password what do I do? To reset your password, follow the link.
  • How do I change my phone number? If you wish to verify a different phone number, please edit your personal info in Ternion Account -> ‘Profile Information’ and click ‘Save’.
  • Do you have a referral program? Ternion has a referral program. Affiliates receive a percentage of total commissions paid by the people they have referred, paid in Bitcoin into their Ternion wallet. Users who have signed up with a valid affiliate link will receive a 10% fee discount for 6 months. To learn more about payout structure click here.
  • How do I change my residential address? If your residential address has changed, we will need to update it on your account accordingly. To do so, you will need to provide a new proof of residence document. We accept the following documents:
    • a bank account statement;
    • a utility bill (electricity, water, internet, etc.);
    • a government-issued document (tax statement, certificate of residency, etc.).
    Please make sure that your name, issue date and address are clearly visible and that the document is not older than three months.
    In order for us to assist you, please send an email with requested documents to support@ternion.io.
  • What is two-factor authentication? The Two-factor authentication feature represents an extra layer of security for Ternion accounts and is designed to ensure that the account owner is the only person who may access their account, even if someone knows their password. Upon logging in to your account, you will be asked to provide two pieces of information: your password and a 6-digit authentication code. A new authentication code is generated every 30 seconds by an authentication app. We support Google Authenticator. We strongly recommend all our users enable this security feature, to prevent any potential unauthorized access to their accounts. This feature is essential for keeping your assets safe, so please take the time to set it up as soon as possible! Moreover, we strongly suggest that you install the authentication app on a separate device (e.g. mobile phone, tablet computer, etc.).
  • How do I enable two-factor authentication on my account? You can enable it by going to your Ternion Account, press an icon with your profile on the right side of the screen, choose ‘Preferences’ from the pop-up menu. Please make sure that you save your newly issued 16-digit authentication key in a secure place where only you can access it, before proceeding any further. You will need to download Google Authenticator app on your device (available on Google Play and App Store). Scan the barcode with the app and put generated by the app code, click “Enable.”
  • Invalid authentication code With Two-factor authentication, it is very important that the time on our server and your mobile device and the time within your Google Authenticator app are all in sync. Therefore, please try to re-sync Google Authenticator by going to Settings -> Time correction for codes -> Sync now, or if you use iOS please set Settings -> General -> Date & Time -> Set Automatically -> to On, then make sure your mobile device displays the correct time and try again.
  • How can I make my account more secure? We strongly advise our users to secure their account by implementing the following security procedures:
    • Password: Make sure to set a strong and unique password. Using numbers, symbols and upper and lower case letters in your password makes it harder to guess.
    • Two-factor authentication: We strongly suggest our customers enable Two-factor authentication.
    • Device & connection security: We recommend that you use updated antivirus and malware protection software on your computer and mobile devices. Never open any emails, attachments or other files from untrusted sources.
  • Do you have a mobile app? We don’t have our own mobile app yet, however, we urge you to use MT5 Mobile App to trade on the go when you don’t have access to your computer.
    Download the App from Google Play here.
    Download the App from iTunes here.
  • To login into the platform use the following credentials: Login: 1010000
    Password: TernionOU
  • I have Ternion tokens; can I pay my commission fees with them? If you a holder of Ternion tokens, you are eligible to pay your commission fees with 50% discount when paying with TRN.
  • What is API? Ternion’s application programming interface (API) allows our clients to access and control their accounts using custom software. Ternion has FIX API and the next gen matching engine capable of processing up to 125 000 transactions per second.
  • What is FIX API? The Financial Information Exchange (FIX) API is a set of clearly defined rules and methods designed specifically for the electronic transfer of financial data. In the nomenclature of the industry, it is “electronic communications protocol for real-time information exchange for financial securities transactions.”1) The FIX API fosters a seamless flow of real-time data between market participants. It is used by liquidity providers, traders (retail and institutional) and regulators to address the market on an ongoing basis.
  • How can I contact you? Send us a ticket here or email us at support@ternion.io
  • How do I change my password? You can change your password by clicking here or by clicking to your icon on the right side on the page in your Ternion Account and choosing ‘Preference’ from the pop-up menu.
  • How can I follow on your updates? Make sure to follow us on Twitter and Facebook for instant updates. We urge you to sign up for our newsletter to learn the latest on Ternion Exchange. You can also learn about FinTech industry, Ternion news and partners on our bi-weekly blog.