Deposit Guide - Funding Your Broker Account

You can fund your FBS account in any way you like, however we recommend using the crypto method below as when it comes to withdrawals, crypto is the fastest and cheapest method. It's also the cheapest for making deposits.

While the crypto steps below may seem complicated and long, once you've done it once it is really quick and easy to do in the future.

The minimum deposit amount to start trading with BladeMiner is USD$50. You can of course deposit as much as you'd like above this (more = more returns!).

Funding Your FBS Account Using Crypto

Please note: The information below applies to South Africa, but the principles are the same wherever you may be. If you are elsewhere, or already have a Litecoin (LTC) enabled crypto wallet, you can skip to Step 4.

  1. Open an account with crypto exchange Valr.
    Both Valr and Kraken (next step) require two-factor authentication (2fa). We highly recommend using the (free) mobile app Authy for easy 2fa (for any website).

    Validate and fund your Valr account with however much you want to deposit. This is a straight bank transfer. If you are with Standard Bank, funds should come through very quickly (or if you make immediate payment). Alternatively, it will take a day or so to reflect.

    Once your account is funded, buy Ripple (XRP, visit > Buy With ZAR) using all the deposited funds (or however much you want to deposit into FBS).

  2. Open an account with another crypto exchange (we recommend Kraken).
    The reason we need another exchange is because Valr accepts deposits from South Africa, but doesn't support LTC inherently, so a conversion from Ripple (XRP) to LiteCoin (LTC) is needed. This conversion costs virtually nothing. For the following steps, open 3 tabs: One for Valr, one for your new crypto exchange and one for FBS.

  3. Send the Ripple (XRP) you bought in Valr to your Kraken account (in Valr, use 'withdraw'). (Get your Kraken XRP wallet receiving address here).

    Convert the XRP to Litecoin (LTC) (click on "Buy Crypto" to get to the Crypto conversion page ).
  4. Great! You should now have LTC, ready for transfer (deposit) to FBS.

    In FBS: Click 'Deposit' on the account you wish to fund. Select Litecoin (Select 'Wallet address' to see LTC wallet address). Copy the FBS LTC wallet address to your clipboard.

  5. In Kraken, withdraw your LTC to FBS. Use the FBS LTC wallet address as the withdrawal address.

    Handy tip: Save the address using a friendly name (FBS_{CentAccount}_LTC for example) to avoid having to copy it next time. The wallet address always remains the same.

    Complete the withdrawal. Funds should reflect in FBS after about 10 minutes (sometimes a little longer).

    In FBS: Check the transfer status under Finances > Transaction History.

    Well done! Your account is now funded and you are ready to follow the rest of the steps in the docs...

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