Modified on: Fri, 30 Jul, 2021 at 2:19 PM
You can exchange your coins and tokens in the Lumi Wallet app by following these steps:
1. Tap on Exchange at the bottom of the screen and choose the currency or token you wish to exchange.
2. Choose a token or currency you would like to purchase and enter the required amount.
There is a minimum amount of crypto you can exchange, the app will show you the tip about the minimum amount. You will see how much funds you will receive.
The network fee is calculated automatically for the fastest transaction.
3. Double-check the details and press the "Exchange" button.
You will see the confirmation screen with all the details about the transaction. Then the transaction will be processed. It may take some time for it to be confirmed by the blockchain.
What is KYC?
We work with our partner Changelly. They process the exchanges. Changelly is a cryptocurrency exchange that mostly doesn’t require revealing identities or any personal data.
However, some transactions can be put on hold by the Changelly Security Department, pending the completion of the AML & KYC verification. AML refers to "Anti-Money Laundering" and KYC refers to "Know Your Customer".
Funds stay frozen and won’t be released until a user provides all the documents and proofs required.
You can read more about Changelly AML & KYC policy here.
Did you find it helpful?Send feedback