Capital Wallet Review

Capital Wallet Review – Regulation

Capital Wallet is registered as DCE with AUSTRAC and offers 2 factor authentication. The platform offers multisig digital wallet that allows the users for safe and secure transaction of cryptocurrencies. The platform also offers additional measures to ensure the privacy and the secureness of the wallet like: using a complex password and changing it often, not sharing your private keys with anyone etc.

Capital Wallet Review – Primary Features

1. Capital Wallet is a Multisig Wallet and offers 2FA that ensures safe and secure transactions.
   
   
2. Capital Wallet is a Hot wallet that means the private keys are stored online.
   
   
3. The first time login IP address will be different from one identified while creating your account, you will need to verify your new IP Address. This is an additional security measure.
   
   

Capital Wallet Review – Services Offered

1. Digital currency to Digital currency Exchange service: Capital Wallet allows users to exchange one digital currency with another digital currency. For example; ETH-BTC or Hydro-BTC.
   
   
2. Digital currency to Fiat currency Exchange service: Capital Wallet allows users to exchange digital currency with the fiat currency while making withdrawals. Fiat currency to Digital currency Exchange service: Capital Wallet allows users to exchange.
   
   
3. Fiat currency with the Digital currency while making deposits or trading. For example; for trading these pairs are available: ETH-USD or BTC-USD
   
   
4. Digital Currency Payment Processor enables Merchants to accept digital currency as payment for goods or services: This allows the merchants to accept their payments in digital currencies.
   
   

Capital Wallet Review – Eligibility

1. The users who wish to register on Capital Wallet should be at least 18 years of age.
   
   
2. To meet the AML/CFT requirements, Capital Wallet requires both nationality and country of residence of the user who intends to set up an account. One can register an account with Capital Wallet if the nationality and country of residence are different, however both the countries have to be a part of the list of supported countries

Capital Wallet Review – Prerequisites for Creating an Account

1. Users need to register on the platform to open an account and avail its services.
   
   
2. Users need to provide the information and documents that will be requested during the verification process.
   
   
3. The registered users, clients and merchants are identified with their unique email ID.
   
   
4. The information provided by the users is used to make inquiries, either directly or through third parties, that are deemed necessary to verify the Client’s and Merchant’s identity or to protect the Client, Merchant, and/or Capital Wallet against financial crimes such as fraud, etc.
   
   
5. The platform will assess the information and documents submitted. The Account will be activated and the users will be able to start the platform only when they are found eligible to access the Platform and the Services.

Capital Wallet Review – Creating an Account

1. Visit the official website: capitalwallet.com
   
   
2. Click on register and select the type of account you want to create: Individual Account or Corporate account.
   
   
3. If you select an individual account:
   • Enter your email
   • A verification code will be sent to the email ID. Fill the verification code
   • You will be asked to create a strong password
   • Then you will be asked for 2FA. This can be done either by downloading the Authenticator App then scanning the QR code shown and then entering the6-digit verification code generated and sent to your number.
   • You are now good to go!
     
     
4. If you select a Corporate account and are a corporate user, the following would be required:
   • Certificate of incorporation OR Memorandum & Articles of Association OR any other relevant founding documents.
   • Resolution of the Board of Directors and identification of those who have authority to operate the account.
   • Company’s registered office address (Eg. office landline bill, latest bank statement etc.).
   • Photo ID and Proof of Identity of all directors. (Any government issued personal identity card.)
   • Identity and address proof of the authorised person.
   • Identity & address proof of the beneficial owner with ownership or owning more than 25% shareholding or voting rights (shareholding pattern)
   • Selfie
   • Any document which states Nature of Business
   • Financial Documents indicating Source of Funds
     
     
5. If you select a Corporate account and are a sole user, the following would be required:
   • Photo ID and Proof of Identity of the sole trader (Any government issued personal identity card.)
   • Address proof of the sole trader
   • Selfie
   • ABN or sole trader tax details
   • Any document which states Nature of Business or website link

Capital Wallet Review – Depositing Cryptocurrencies

1. After the account has been set-up, Click on ‘Wallet’
   
   
2. Select the crypto you want to deposit then click on ‘deposit’
   
   
3. A dialog box with your wallet address which you can copy, would appear
   
   
4. Use this wallet address to deposit the crypto from other wallet

Capital Wallet Review – Exchanging/Trading Currencies

Traders can directly trade two different currencies on Capital Wallet. These trades are executed immediately and cannot be cancelled.

Converting One Digital Currency With Another:

1. Navigate to the ‘Exchange’ page displayed on the navigation bar.
   
   
2. Select the cryptocurrency you would like to convert and enter the Amount.
   
   
3. Now, select the receive column and enter the cryptocurrency you prefer converting to. The amount is displayed automatically.
   
   
4. Click on the ‘Exchange Now’ button and a separate panel will appear depicting the price, quantity, commission charged, and final amount.
   
   
5. Tick the checkbox for accepting the terms and conditions and confirm the transaction.

Capital Wallet Review – Sending Digital Currency to an External Wallet:

1. Navigate to the ‘wallet’ page displayed on the navigation bar.
   
   
2. Select the cryptocurrency wallet from where you would like to send. Click on the ‘withdrawal’ button.
   
   
3. A separate side panel would appear, enter the Wallet address of the external cryptocurrency wallet.
   
   
4. Enter the cryptocurrency amount that you approve of under the ‘Amount’ field. Note that the approved amount you’d like to send is subject to 0.5% transaction fees.
   
   
5. To proceed with the withdrawal request, click on the submit button.
   
   
6. A withdrawal confirmation link would be sent to your registered email address. Clicking on the link would approve the details and process the transaction.

Is Capital Wallet trustworthy?

Capital Wallet being registered with DCE and regulated with AUSTRAC is considered a trustworthy hot wallet. It is a multisig wallet and offers 2FA that makes the platform secure and safe. Capital Wallet is the best choice for both beginners and experienced users for all types of transactions i.e sell, buy, and trade.

Capital Wallet Review – Pros and Cons