NEW – Deposit with Crypto
Mt.Cook is thrilled to announce that we can now accept crypto currency transfers as an account funding option.
While buying and selling cryptos is becoming increasingly mainstream, the opportunities to spend or actually utilize these currencies practically are somewhat limited in comparison, mostly due to the inherent volatility of some of these coins.
There are, however, a growing number of firms across a wide range of industries who are embracing cryptocurrencies, allowing customers to use them as an official method of payment for their goods and services, and in our case – account funding. Mt.Cook is happy to fall in to this camp.
Currently we can accept deposits in the following crypto currencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- USD Tether (USDT)
- PAX Gold (PAXG)
If you hold crypto in other currencies you must convert to one of these 4 in order to fund your account at Mt.Cook. We hope to add other currencies in the future to this list for funding.
Crypto and Blockchain technologies are a reliable system, that are changing the lives of many people. The economy goes that way.
* Please note however, that this is not an instant funding option, and is still subject to our AML/KYC rules, and 3rd Party Transfer checks. Coin transfers must also be converted to fiat, and manually booked to trader’s accounts.
Volatility Risk
While this method of funding is generally faster than traditional wire transfers, it may present some volatility risk to traders when one considers the time variable, as the time a transfer is made, to the time it is received and then converted to fiat, and booked to your trading account, there may be fluctuations in the underlying coin’s value vs a fiat currency. Those not comfortable with this volatility typically convert to, and then transfer in USD Tether (USDT) which is digital currency anchored to the US Dollar, and thus exposed to less volatility.
