Question 1

How do I cash-out my crypto?

Accepted Answer

Withdrawing funds (FIAT) from your Mercury Iconex crypto exchange is easy, safe and fast.

Here is a step-by-step guide for users to transfer cryptocurrencies from their Mercury Iconex crypto account to cash or a bank account:

Log In to your Account:

Go to our website and click on "Start Trading" and select Login on our exchange.

| If you have not yet created an online account, we recommend that you do so. | Check out our Knowledge Base article "How to Start or Open an Account" for the necessary steps.

Log in with your registered username and password.
Complete Two-Factor Authentication (2FA) if enabled.

Navigate to the E-Wallet or Balance Section:

Look for the "E-Wallet" or "Wallet" section.
Click on this to get an overview of the available digital currencies on Mercury Iconex.

Select the Cryptocurrency you want to Cash Out:

Click on the cryptocurrency you want to cash out to CASH or a bank account.
Look for the option such as "Sell", "Market Pairs" or "Trade".

Sell your Cryptocurrency for SRDC, USD or EUR (if available) for a bank transfer:

Enter the amount of cryptocurrency you want to sell.
Choose the digital currency you want to convert it to (e.g. SRDC, USD, EUR).
Place the sell order and wait for it to be executed.
The converted digital currency will be ad

Question 2

Crypto Exchanges in & for Suriname

Accepted Answer

List of registered and trusted centralized exchanges in Suriname

Cryptocurrency has significantly changed the financial landscape since the introduction of Bitcoin in 2009. Unlike traditional currencies (USD, EUR, SRD) that are controlled by central banks, cryptocurrencies are digital or virtual currencies that are secured by cryptography and operate on decentralized networks with blockchain technology. This ensures transparency, security and immutability of transactions.

The rise of decentralized transactions

One of the most notable and controversial consequences of cryptocurrency is the rise of Decentralized Finance (DeFi). DeFi creates the opportunity to offer financial services without a fleet of intermediaries, reducing costs and making banking more accessible to many people. Moreover, cryptocurrencies also enable faster and cheaper cross-border transactions, challenging traditional financial systems and promoting a global, borderless economy.

Mercury Iconex: Suriname's leading and only cryptocurrency exchange

Suriname has been able to use the possibilities and solutions that DeFi offers for a number of years via Mercury Iconex. Mercury Iconex stands out as the only centralized cryptocurrency exchange founded in Suriname and trusted. Mercury Iconex simplifies the process for residents and users to buy Bitcoin and other cryptocurrencies, and it usually takes less than 5 minutes to create an online account. By using the open market and Blockchain techno

Question 3

Price determination of Cryptocurrencies

Accepted Answer

How is the Unit Price or Market Value of a Cryptocurrency Determined on a Cryptocurrency Exchange?

In the dynamic world of cryptocurrency trading, understanding the “Ask-Bid Spread” (Supply and Demand Ratio) is crucial for both beginners and professional traders. The “Supply and Demand Ratio” is a fundamental concept that represents how prices are determined in the market.

This article will explain the mechanics behind the “Supply and Demand Ratio”, how prices are determined through trading, and the key components of this process.

What is the “Supply and Demand Ratio”?

The “Supply and Demand Ratio” is the difference between the Ask Price (the lowest price a seller is willing to accept) and the Offer Price (the highest price a buyer is willing to pay) for a cryptocurrency on a crypto exchange, such as Mercury Iconex.

|| - Ask Price: This is the price at which sellers are willing to sell their cryptocurrency. It is also known as the “sell” price. || - Supply Price: This is the price at which buyers are willing to buy the cryptocurrency. This is also known as the “buy” price.

Example: Let’s say you are looking at the order book for Bitcoin (BTC) on Mercury Iconex:

Ask Price: $60,100 (This is the lowest price a seller offers to sell BTC).
Offer Price: $60,000 (This is the highest price a buyer is willing to pay for BTC).

The "Supply and Demand Ratio" in this case is $100 ($60,100 - $60,000).

Why is the "Supply and Demand

Question 4

How do I receive cryptocurrencies?

Accepted Answer

Receiving cryptocurrencies through Mercury Iconex is simple, secure and fast.

Here are the steps for beginners:

Log In to your Account:

Go to our website and click on ‘Start Trading’ and select Login on our exchange.

| If you have not yet created an online account, we recommend doing so. | See our Knowledge Base article ‘How do I start or open an account’ for the necessary steps.

Log in with your registered username and password.
Complete two-factor authentication (2FA) if enabled.

Navigate to the E-Wallet or Balance Section:

Search for the ‘E-Wallet’ or ‘Wallet’ section.
Click this to get an overview of the cryptocurrencies available on Mercury Iconex.

Select the Cryptocurrency you Want to Receive: -Click on the cryptocurrency you want to receive (e.g. Bitcoin, Ethereum or Suriname Reserve Digital Currency).

Click on the ‘Deposit’ or ‘Receive’ option.

Generate your Wallet Address:

Select the appropriate network address if needed (ERC20, TRC20, BEP20, Polygon). Each network has its own advantages. Agree with the sender which network is applicable.
After selecting the right network, click ‘Generate Wallet Address’ and a wallet address will be generated.
This is the unique address you should have the cryptocurrency sent to.

Copy Wallet Address:

Copy the generated wallet address to your clipboard.
Make sure you copy the full add

Question 5

"Know Your Customer" (KYC) for verification

Accepted Answer

The adoption of KYC by financial institutions is a win-win for users, businesses, and the economy.

In the rapidly changing world of digital currencies, centralized exchanges like Mercury Iconex play a central role in facilitating the buying, selling, trading, and storage of digital assets.

However, as the industry grows, so does the potential for illicit activities such as fraud, money laundering, and identity theft. To combat these threats and build trust in the crypto ecosystem, "Know Your Customer" (KYC) procedures have become indispensable.

Through this article, we highlight why KYC is crucial for users, businesses, and the broader economy, and why Mercury Iconex has chosen iDenfy as its overseas partner, which stands out as the leading KYC application for cryptocurrency exchanges.

Why KYC is Important!

KYC procedures are not only a regulatory requirement within the financial landscape, but a fundamental part of a secure and thriving cryptocurrency ecosystem. For users, FinTech companies, and the economy as a whole, KYC offers numerous benefits, from enhanced security to improved trust and market credibility. As the leading KYC solution for cryptocurrency exchanges, iDenfy provides the tools and expertise needed to navigate the complexities of identity verification and fraud prevention. By partnering with iDenfy, Mercury Iconex can protect its platform, support legitimate growth, and contribute to a safer and more transparent financi

Question 6

Economic Constraints versus Financial Accessibility

Accepted Answer

Good and functional infrastructure is more important than the construction and erection of admirable buildings. The construction of functional infrastructure in whatever form ensures that people, materials and goods can come together to trade, for example, or to bring together connections or networks.

For economic purposes, functional infrastructure ensures that we are able to do business and build ourselves, which further contributes to the construction of our society. Infrastructure is therefore the backbone of all economic and social growth. It improves access to basic services such as clean drinking water and electricity in the interior and it opens up areas in a financial-economic way through the incorporation of digital and/or technological services.

Partly because of this, it creates jobs and stimulates business. The construction of functional infrastructure is an absolute gift from our ancestors, and in recent decades experts have devised and constructed a range of different types of infrastructure for various sectors with their own standards and norms, which in turn have inventively found a connection with the now complex world infrastructure that keeps the process of globalization alive.

As Surinamese, we can therefore praise the fact that groundbreaking work has been done in recent years in the construction of roads and bridges, and that certain parts of Suriname have been opened up, which has resulted in a social spin-off effect. However, there is a branch

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