WAXEX Beta Gateway
The WAXEX Rand (ZAR) Beta gateway was activated for a controlled public testing round for a 100 user accounts on 21 June 2018. The gateway is restricted to South African citizens, 18 years and older, who are required to sign up and log in using the CIVIC APP. Verification and attestations are done live and creating a new account only takes a few minutes.
The official fiat token for the Rand (ZAR) gateway is: Name: Rand Ticker: ZAR Issuer: 3PAwKvVxVgFf9jdGvTquG8ZgcHu4dDyKwoL ID: FGiL1zJyRZhUmjhsq6oB3kurfTfeX4szXrqFymKW42oP Type: Reissuable Issue date: 03.05.2018 10:57 Description: Official Rand token for the WAXEX ZAR Gateway
There are no deposit fees, and a 3% withdraw fee.
Minimum and maximum deposits
Transactions below R10.00 will not be processed. The maximum deposit and withdraw amount is R50 000.00. Deposits or withdrawals above this amount may be subject to additional delays and penalties.
Problems with your account?
All issues related to deposits and withdrawals and resetting your account will be handled by Waves African Exchange PTY Ltd Support team.
Trouble with the Civic app?
All issues related to the CIVIC app, accessibility to the gateway and KYC verification processes will be referred to CIVIC Technologies support desk.
Gateway signup process
Starting on the gateway home page, you can click on the sign-up button, which will prompt the CIVIC portal to generate a unique QR code.
You will then be required to scan the generated QR code from within the CIVIC mobile app. You will be prompted to share your contact details, such as your mobile number and email address associated with your CIVIC ID.
Once we have received your contact details, you will be redirected to the KYC area.
From within the KYC area, you will be given some instructions and asked to scan another QR code, which will tell your CIVIC account that we need to validate your age and your citizenship.
Your CiVIC ap will then check if you have an existing ID, Drivers Licence or Passport associated with your profile. If not, you will be asked to scan one of these documents with your mobile device and CIVIC will verify this information with existing national databases and other reliable data sources. You may also be asked to take a selfie to complete the verification process.
Once your Identity has been fully validated you will be able to pass the KYC area and you will be redirected to your WAXEX account page.
In this section, your captured CIVIC profile data will be displayed and you will be prompted to fill out a form that asks for your waves wallet public address and your bank account details.
You can then submit your account information to create your WAXEX gateway profile. You will now be able to review your newly created account details.
You will also receive a notification of your newly created account via email.
If there is a problem with your account information, you can request an account is reset, and you can start the process over again. You can also request an account reset at any time in case any of your information has changed.
The next step is to make your first deposit to the gateway using your unique reference code associated with your gateway account. Instructions on how to make the deposit are provided at this point.
Your account status will be set to “pending deposit” until you have successfully made your first deposit.
Once your deposit has been processed you will be notified via email. Deposits are processed 3 times a day: 10 am, 12:30 pm and 16 pm South Africa time.
If your bank deposit has reflected in our bank account before those cut of times, your deposit will be processed, otherwise, it will be processed on the following cycle.
Once your deposit has been processed your account will be marked as active and you will be able to make a withdrawal from your account with a limit of R50 000.00. These limits may increase in future once we are out of the Beta phase.
Instructions on how to make a withdraw are provided on the withdraw section of the gateway.
To make a withdraw to your linked bank account, you simply have to send tokens to the gateway wallet.
All transactions sent to the gateway will be cross-referenced with our user database. If the sender wallet is an active account and you have sent the correct token, your transaction will be added to the next payment batch. You will receive a notification via email to confirm that we have received your withdraw request, with information about the specific withdraw transaction and the related fees.
Withdraw cut off times are 9 am, 11:30 pm and 15 pm South Africa time daily. Withdraw and deposit transactions may take up to 48 hours to reflect, depending on your bank account confirmation times.