Since the introduction of Dash on CEX.IO platform, our users have received an additional option for their trading activities. Today we would like to draw your attention to the fact that we support only the multisignature wallets for DASH on CEX.IO. While they are still not used by other platforms, they allow ensuring higher security of the transactions performed by the users.
What Does It Mean for Users?
In some cases, depositing your Dash to CEX.IO may be challenging as far as some services do not recognize Dash address starting with 7 as valid. This issue arises as many exchanges still do not use Dash multisignature wallets. Still, as stated in DASH release notes (from May 2015), wallets starting with 7 are completely functional.
What Should I Do?
In the situation when another exchange service does not accept Dash wallet starting with 7, there are two ways to solve the issue.
- The first variant is to contact the exchange and tell them that the wallet is valid and ask to validate it on the platform. At the same time, it may take some time.
- The second variant is you own controlled way – to transfer funds to CEX.IO account, you can use the external wallets. Here is the list of possible steps:
- withdraw Dash from your exchange to your Dash wallet outside CEX.IO;
- deposit your funds to CEX.IO using that wallet.
Why Use Multisig?
The principle of multisig wallets allows the higher security of funds. While many exchanges do not use them, we pay much attention to the safety issues. At CEX.IO, we also work with this type of wallet for the security reasons. It allows us to ensure that the funds of our customers are completely safe.