Cryptology FAQ
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Cryptology Trader
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Account
How do I enable 2FA for my account?
Web Version – www.cryptology.com
1. Go to www.cryptology.com, and click on the top right button “Sign in" or "Create account”.

2. Sign in (or Sign up if you don’t have an account) to Cryptology.
After that click on the “Account” button and choose Security.

3: To enable Two-Factor Authentication, download Google Authenticator on the App Store or Google Play. Click on the “Enable 2FA” button.
Then Scan the barcode with your Google Authenticator app or copy the secret key manually. Dont forget to save your secret key, as it is provided only once!
Enter a code generated by your Google Authenticator.
Click on the “Enable 2FA” button to finish it up.

Mobile Application Version
1. Sign in (or Sign up if you don’t have an account) to Cryptology.
After that click on the “Account” button and choose Security.

2. To enable Two-Factor Authentication, download Google Authenticator on the App Store or Google Play.
Click on the “Enable 2FA” button.
Then Scan the barcode with your Google Authenticator app or copy the secret key manually. Dont forget to save your secret key, as it is provided only once!
Enter a code generated by your Google Authenticator.
Click on the “Enable 2FA” button to finish it up.


Great! Now your account is more secure and your trading is safer than before.
How does the Account Limit work?
The account limit we refer to, in such topics as the account verification, is a cumulative limit, not a weekly, monthly, or yearly one.This means that if, for example, the client has a Basic verification type of account, he can only transact up to a total of $2,000 on said account.
Once that limit has been reached, a client can no longer deposit or withdraw. As such, the client can apply for a higher level of verification, such as Advanced (up to $10,000), by simply submitting the required documents.
*Additional card verification might be required
I’m underaged. Can I open an account with Cryptology?
Unfortunately, no. As per Cryptology’s Terms and Conditions, the client acknowledges that he/she is above the legal minimum age (18) upon account registration. Failure to comply shall result in blocking of the account.How do I delete my account?
To delete your account, enter the Settings page on your platform. On the bottom right corner, you will see the “Delete Account” button.In case you change your mind after account deletion, please contact the Support Team for assistance.
Verification
Cryptology verification process
In order to increase the amount that you can deposit and withdraw funds from your Cryptology account, you need to complete the verification process.There are 3 verification levels:
1. Basic Verification: Crypto deposits - no limits, Crypto withdrawals - up to $2,000. Fiat deposits are not available.
Requires filling in the first name, last name, and date of birth.
2. Advance Verification: Crypto deposits - no limits, Crypto withdrawals - no limits. Fiat deposits up to $10,000
Requires filling in the form on the Account Settings tab, by providing first and last name, ID document number, date of birth. Also requires providing the photo of personal ID and a selfie with a photo identity card (in color, readable, full page, with the name spelled in English letters);
3. Unlimited Verification: No Account Limit
Requires providing Residential Address and document copy confirming it. As Proof of Residence, you can use a recent (not older than 6 months) utility bill for electricity/gas/water/landline/internet or a bank account statement/official government letter. Proof of Residence shall contain your full name (as in the provided photo ID document), full address, document date, and the service provided (in Latin transliteration). *Additional documents for Enhanced Due Diligence and card verification might be required.
*Additional card verification may be required.
Why do I need to verify my account?
Our greatest priority is fair and secure trading trading experience for all of our clients.In order to eliminate certain risks, like fake accounts or robot trading, we need to ensure that our clients are fully verified in accordance with the companys KYC practices. The 2 stages of verification also provide you with different account balance limits. The more verified your account is, the higher its limit is.
Deposit and Withdrawal
Are my funds safe with Cryptology?
Cryptology provides user funds insurance with a Secure Asset Fund where we allocate a part of all trading fees to offer protection to our users and their funds in extreme cases. The size of the Secure Asset Fund is changed dynamically based on the current market situation, but cant be reduced to less than $1,000,000 in USD equivalent. To ensure the security of the funds in custody, Cryptology follows strict Security Policy that enforces a set of security standards for our technical and business operations.However, our policy does not cover any losses resulting from unauthorized access to users personal account(s) due to a breach or loss of credentials. It is your responsibility to use a strong password and maintain control of all login credentials you use to access Cryptology. Digital currency is not legal tender and is not backed by the government.
How much can I deposit/withdraw at once?
The amount you can deposit/withdraw depends on your account verification level. In order to increase the limits, please complete the account verification:- Basic Verification: USD$10,000 account limit
- Full Verification: no account limit
Bank Card Deposit instructions
Supported card types.You can deposit using your VISA and MasterCard. We are looking forward to adding other payment methods in the future.
Deposit procedure:
Basic verification. At the moment in order to prevent fraudulent transactions, basic verification is required. You can pass the verification conveniently in the mobile applications. The basic level just requires filling in the form on the Account Settings tab, by providing first and last name, ID document number, date of birth. It also requires providing a photo of a personal ID and a selfie with such a photo identity card. The verification process just takes a few minutes.
Currency.
After the verification process has been completed successfully you can choose the currency you want to deposit into your account tab and click the "deposit" button.
As a part of our KYC and AML policy, we charge a small random amount (for example $1.42) which you need to enter in the verification form (we need to verify that you are the real cardholder). You will receive either an SMS/push notification from your bank with such an amount or you can find it in your card statement. Youll have 15 minutes to enter this exact amount in the form. After you complete this the small random amount will be returned to your card. Please note that it should format as 1.42 (example) and not 1,42 to go through.
Where is my crypto deposit?
First, please check if the transaction ID exists in the blockchain, as the wallets might delay the broadcasting. The transaction ID is a string of numbers and letters that you can use to verify your transfer data in the network.If the transaction already exists in the blockchain, please check whether it has enough confirmations. Different currencies can have different processing times. For example, ETH transactions are normally substantially faster than the BTC ones (several minutes versus up to an hour).
If you believe your transaction is taking longer than expected, please contact our Support Team.
What is the minimum amount for deposits?
On Cryptology, the minimum amount you can deposit depends on the top-up method:
- Bank card deposits - minimum amount is 25 USD, 25 EUR
- Crypto deposits - no minimum amount.
How can I speed up unconfirmed transactions?
After the transaction has been broadcasted to the network, there’s usually no way of affecting it and you can just wait for the confirmation. To make this process faster for future transactions, you can choose to pay a higher fee when setting up your transaction so it can be included in the block earlier.What happens if I send the wrong coin?
Cryptocurrency transactions, in their absolute majority, are irreversible. This means that if you send the wrong coin to the wrong wallet, it will probably be lost forever.How do I get a wallet address?
Getting a wallet is fairly easy for most currencies. However, there are countless options out there depending on your needs and how safe you want to be.Any wallet you get will give you the possibility to generate addresses. If you don’t see a “Generate address” or “My addresses” button, you can normally generate one on the “Receive/Send” section.
How to make a SEPA withdrawal?
To make a SEPA withdrawal, please follow the simple steps:1. Go to the Balances page.

2. Select a FIAT currency.
3. Click the Withdraw button.

4. Enter your bank account details.


5. Make sure that the data is entered correctly.


Done! The funds will be credited to the specified bank account within a few business days.

*Please note: You can withdraw funds only to a bank account in which the name and surname of the owner match the name and surname in your Cryptology account.
Exchange Trading
How to Trade on Cryptology
Web Version – www.cryptology.com
Step 1: Click on the “Exchange” tab to start.

Step 2: Left next to the Price Chart and Market Depth sections you can find two types of orders:
- Limit.
- Market order.
Please note that you should have a sufficient amount of currency on your balance that you want to exchange. You can check this on the Balances tab.
(Note: The percentages under the "Total" box refer to certain percentages of the account balance.)

Step 3: A Limit Order does not work immediately as the Market one, but executes at a specified price. A Buy Limit Order can only be executed at the limit price or lower, and a Sell Limit Order can only be executed at the limit price or higher. So it is not guaranteed that it will be executed, as it depends on the market price.

Mobile Apps
Step 1: Click on the “Exchange” tab to start.

Step 2: Let’s start with a Market Order. Choose an asset and a preferred amount that you want to buy or sell and click on the “BUY/SELL” button.

Step 3: A Limit Order does not work immediately as the Market one, but executes at a specified price.
A Buy Limit Order can only be executed at the limit price or lower, and a Sell Limit Order can only be executed at the limit price or higher. So it is not guaranteed to be executed, as it depends on the market price. So choose a currency pair you wish to use, set the Limit Price and click on the “Apply” button to open your Limit Order.

What is the order book?
Order book is a list of buy and sell orders for a specific currency, organized by price level. It allows you to see what price are investors willing to pay or sell their coins for.
What are the Ask and Bid prices?
The Ask Price is the lowest price that sellers are willing to sell their coins for. In reverse logic, the Bid Price is the highest amount a buyer is willing to pay for the asset. The difference between the two is commonly known as Spread.What is the minimum order size?
The minimum order size on Cryptology is USD $0.10 or its equivalent.Why was my market order executed at a different price?
On a highly volatile market, an order might be executed at a price that is different than expected. Lets see an example.If bid-ask spread on BTC-EUR pair is €3460 by €3469, and you place a market order to buy 1 BTC, you may expect it to fill at €3469. In the fraction of a second, it takes for your order to reach the exchange something may change, or your quotes could be slightly delayed. The price you actually get maybe €3462. The €2 difference between your expected price of €3460 and the €3462 price you actually end up buying at is called slippage.
Slippage refers to the difference between the expected price of a trade and the price at which the trade is actually executed. Slippage often occurs during periods of higher volatility when market orders are used. A market order assures you get into the trade, but there is a possibility you will end up with slippage and a worse price than expected.
Slippage does not directly refer to a negative or positive movement, as any change between the expected and actual prices can qualify. When orders are executed, the corresponding securities are purchased or sold at the most favorable price available. This can cause an order to produce results that are more favorable, equal to or less favorable than original expectations with the results being referred to as positive slippage, no slippage and negative slippage, respectively.
What is Tether (USDT)?
Tether is a cryptocurrency that was created with the intent of mirroring the US Dollar. It is meant to be traded at a fixed price of USD ($1). Each Tether is allegedly backed by 1 real Dollar, that’s held in the company’s reserve.There is also a form of Tether that is backed by the Euro, even though it has an extremely low trading volume.
Futures Trading
Definitions
- Cryptology Perpetual Futures Contract: Our Perpetual Futures Contract is a derivative contract bonded to the price of the BTC price index as the underlying.
- Index price: the Index Price is the average market price of different exchanges. The exchanges used for the Index Price are independent in order to avoid price manipulation.
- Funding Rate: The Funding Rate, determines funds that will be received or marked off every 8 hours at 04:00 UTC, 12:00 UTC and 20:00 UTC. So we have 3 funding intervals per day. You will only pay or receive the Funding amount if you hold a position at one of these times. If you close your position prior to the Funding Rate exchange then you will not pay nor receive the Funding Rate. When the Funding Rate is positive, longs pay shorts. When the Funding Rate is negative, shorts pay longs. Cryptology does not charge any fees on the Funding Rate amount nor the exchange of it between longs and shorts, the Funding Rate is exchanged directly peer-to-peer. The Funding, is necessary to maintain the contract price close to the Index Price and avoid price manipulation on the exchange.
- Mark Price:the Mark Price displays the Unrealized PNL. It is used to calculate the liquidation of the position and avoid price manipulation.
- Mark Price = Index Price * ( 1 + Funding Rate * (Time to Funding / Funding Interval))
- Open interest: total number of contracts in the order book.
- Total balance: overall valuation of clients assets.
- Equity: is a sum of total balance and Unrealized PNL.
- Available: available assets on balance that could be used for trading.
- Initial Margin: the amount that is necessary to enter into a leveraged position.
- Maintenance Margin: Maintenance Margin is 50% of the Initial Margin. When your Margin becomes less than the Maintenance Margin, the position will be closed using the liquidation procedure.
- Unrealized PNL: PNL that is calculated as a difference of the average price of a deal and the Mark Price.
- Realized PNL: Realized PNL is calculated using the average price of opening position and the average price of the closing position.
- Est. Liq. Price: it is an approximate price for liquidating the position. If the Mark price touches the Liquidation Price, the position will be liquidated.
- Liquidation price: is the price which will be used to close the position in the case of liquidation.
How is the Funding calculated?
- Funding Rate = Interest Rate Differencial + Premium Index
- Interest Rate Differencial
- Let’s suppose that BTC landing rate is 0.03% and USD landing rate is 0.06%, and we have 3 funding intervals per day.
- Interest Rate Differencial = (0.06% - 0.03%) / 3 = 0.01%
- Premium Index, Depending on the situation on the market, we determine impact bid price(IBP) and impact ask price(IAP). Impact price is calculated as Volume Weighted Average Price (VWAP) on the market for volume ~10 BTC
- Premium Index = (max(0, Impact Ask Price - Mark Price) - max(0, Mark Price - Impact Bid Price)) / Index Price
- The Funding Amount is equal to the position value times the Funding Rate.
- For example, the Mark Price is 4000 USD. You create a buy limit order (taker fee) at 3:00 UTC of 5000 contracts (contract size: 1 USD) that is ~1.25 BTC.
- You will pay a commission of 0.0003125 BTC [(5000*1)/4000*0.01%]
- The Funding Rate is 0.01%. At 4:00 UTC the Funding will be charged from your balance.
- Funding: -0.000125 BTC [(5000*1)/4000*0.01%]
- After the price of BTC changes to 5000 USD and you decide to close part of your position, you would create a market order selling 4000 contracts.
- You will also pay a commission of 0.0006 BTC [(4000*1)/5000*0.075%]
- The Funding Rate is changed to -0.02%. At 8:00 UTC the Funding will be added to your balance for the remaining position of 1000 contracts .
- Funding: +(1000*1)/5000*0.02%=+0.00004 BTC
How is my PNL calculated?
- Assume that you bought 500 contracts (contract size: 1 USD) at 3800 USD and then sold by market order 400 contracts at 4000 USD.
- As your position was not completely closed part of your unrealized PNL was transformed to realized PLN and the remaining of the position will be maintained as unrealized PNL:
- You also made a taker order, therefore, you have to pay takers fee = 400/4000 * 0.075% = 0.000075 BTC
- Realized PNL = 400 * 1 * (1/3800 - 1/4000) = 0,005263157 BTC minus fee
- Unrealized PNL = (500 - 400) * 1 * (1/3800 - 1/4000) = 0.0001315789 BTC
What are the applicable fees?
- Cryptology has constant trading fees for perpetual futures.
- Taker fees: 0.075%
- Maker fees: 0.005%
- FYI: Maintenance Margin includes commission for closing an open position and also include next funding to reduce the risk of wasting liquidation fund.
What is Cross-Margin?
- When you open a position on Cross-Margin, the system will work to maintain your margin above liquidation level by taking funds from your available balance. If there are not enough funds on your account, the system checks if it is possible to cancel active orders that hold margin and cancel these. If both conditions take place, all the open positions are closed at Market Price.
- Using Cross-Margin, Leverage is calculated as: Position size/Balance.
- NOTE: Currently, Futures on the Android version only supports Cross-Margin. Isolated Margin will be available soon.
What is Isolated-Margin?
- When you open a position on Isolated-Margin, the system will liquidate your position when it reaches liquidation level automatically. It will not take funds from your available balance, nor affect other open positions.
- Using Isolated-Margin, you can fix the leverage you would like to use. The Margin will be calculated as: Position Size x Leverage.
- NOTE: Currently, by default, the web version opens the position on Cross-Margin. If you wish to change this, you will need to drag the leverage forward towards x100, you will then see "Isolated" instead of "Cross".
What is the Insurance Fund?
- Cryptology offers 100x leverage for Perpetual Futures Contract on Bitcoin, this is a highly volatile financial product. These two factors cause a high risk of default. To cover possible obligations of one trader to the others, we decided to create an Insurance Fund. The Insurance Fund is used according to the discretion and risk management policy of Cryptology. When opening a position, the trading system calculates two prices, the Liquidation Price and the Bankruptcy Price.
- Depending on the size of the position, liquidity and market volatility, the actual average Liquidation Price could be even worse than the Bankruptcy Price. In these cases, losses concerned with the market condition will be covered from the Liquidation Fund. If there are not enough funds to cover losses of liquidation then the system automatically goes to Auto-Deleveraging Liquidation. In the opposite case, if the actual average Liquidation Price is better than the Bankruptcy Price, these funds will go to the Liquidation Fund.
What is Auto-DeLeveraging (ADL)?
- Auto deleveraging is a procedure on the market when it is necessary to cover losses of some traders but there are not enough funds in the Liquidation Fund. In this case, the most profitable positions on the market will be automatically closed to cover losses.
Withdrawals
- Futures withdrawals are processed everyday only one time per day at 10:00 UTC.
- Processing time may take up to 2 hours.
- Submit your withdrawal request by 10:00 UTC to be included in the same days batch.
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