FAQ

How can we help you?

What is Hedpay?

Hedpay is a platform that aims to create a community network effect around purchasing power. Hedpay aims to improve these concepts through the use of its ERC20 token-based e-currency wallet.

Which Blockchain Technology uses Hedpay?

Hedpay currently is an ERC-23 token standard, which was launched on the Ethereum blockchain network.

Will Hedpay have its own blockchain?

The Hedpay team is working to develop its own Blockchain technology to be available as of 2022.

Is the Hedpay token a utility or security token?

Hedpay has three kinds of tokens: Utility, Security, and Stable

  • Hedpay's main Token is the Security Token as it is pegged to the equity of the company
  • The current token in circulation is the Utility Token for mass trade and use purposes
  • Token address: 0xc4d5545392f5fc57eba3af8981815669bb7e2a48
  • Hedpay will soon launch a Stable Token backed by pure gold with limited value

What are the official channels of Hedpay?

You can find us on the following platforms. Please don’t hesitate to ask us your questions.

  • Medium
  • Telegram
  • Twitter
  • Facebook
  • Instagram
  • Youtube
  • Website

Where is Hedpay based?

Hedpay Ltd. was incorporated in London (United Kingdom) as the parent corporation. Hedpay Technologies, which is the technology development arm, is based in Montreal, Canada.

Later on, Hedpay UAB was incorporated in Lithuania under the following activity sectors: Cryptocurrency Exchange and Crypto Currency Depository Wallet Operator, effective vehicle serves crypto-fiat payments, with KYC/AML measures implemented and supervised by Lithuanian Financial Crime Investigation Unit (FIU).

How old is Hedpay?

Hedpay Ltd. was formed in 2017.

Who are the people behind Hedpay?

Hedpay was founded by Vicken Kaprelian. As a founder, CEO, and executive entrepreneur, he has considerable experience in the commodities sector with gold and diamonds from 1989 in the Middle East and North America (Canada), where he founded IBIG Investments Inc. and thereafter founded KIG Mining Plc in the United Kingdom, a public company listed on Frankfurt Stock Exchange. Mr. Kaprelian then started Hedpay Ltd. in the United Kingdom and brought back together his previous collaborators in Canada.

Today, the team of fifteen highly professional members consists of analysts, data scientists, marketers, IT security engineers, and developers with various expertise.

Why should I choose Hedpay over another asset wallet and exchange?

The Hedpay wallet in its simple form is no different than other asset wallets and DEX Exchanges. However, the difference becomes apparent when you combine Hedpay banking and our account offerings. With Hedpay, you can execute transactions between cryptocurrencies and FIAT within one platform, thus avoiding the fees and delays between wallets, exchanges, and FIAT banks.

In addition, you can generate passive income by using the HEdpAY token (HDP) while transacting within Hedpay and when you use our various services and products, or by taking advantage of our periodical special offers.

What type of account will I get after registration?

When you successfully pass the KYC verifications, you will get a HEdpAY Unique Account ID. (UID)

If you skipped the KYC process during registration, your account will be opened but will not be fully activated until you complete the KYC verification process.

What can I use my Hedpay account for?

You can:

  • Hold or exchange the following cryptocurrencies: HDP, BTH, ETH, USDT.
  • Send/Receive available currencies.
  • Pay with available currencies at accepted locations (locations accepting BTC, ETH, USDT or HDP)
  • Also stake your HDP holding and earn interest. (see Hedpay Fund Packages below)
  • Make in and out transfers and transfers in between Hedpay users. (see the Fund Transfer Section of the FAQ)

Others options will be available soon.
Limited pairs of currency exchange.
HEdpAY MC Payment Card - you can pre-order your own card now. (link).

Where can I find my account number?

The HEdpAY Unique Account ID (UID) is available for natural persons who completed the KYC/AML verification process. It is displayed in your profile page.

Can a natural person have a several Hedpay accounts?

No! One person can only have one HEdpAY Unique Account. However, within one account, you may have multiple subaccounts for different types of digital or FIAT currencies.

What type of fees does Hedpay charge?

Opening a Hedpay account is free of charge.

A fixed monthly low maintenance fee will be charged if the account is maintained below the required amount. The frequency of use of the account will also affect the maintenance fee. High volume of activity may eliminate the maintenance fees.

I have registered but cannot log in. Why?

After registering on the Hedpay platform, you have to activate your account. An activation code will be sent to the unique email address provided during registration. Follow the steps in the email to activate your account.

Why is my account inactive?

After six months of inactivity, the system will send out notification emails. After the third notification, the account will be suspended (inactive) to avoid maintenance fees.

What is the difference between UID and the QR code in my account?

The UID is your account number within the Hedpay platform. The QR code is your unique HEdpAY MC Wallet address that is used for your cryptocurrency transactions.

How can I close my Hedpay account?

You can close your account only when the account or subaccounts have a zero (0) balance. Login to your account, verify your balance(s) and notify our customer support department by email ([email protected]) of your request.

What is a Hedpay Fund Package?

A Hedpay Fund Package is a subaccount where you can deposit your Hedpay tokens and earn interest. Your interest rate will be established based on your volume of deposit and the length of period chosen.

Keep in mind that the interest rate in a Hedpay Fund Package is fixed during the time of staking. This means if Hedpay changes the interest rate, it will not affect your package.

How do I buy a Hedpay fund Package?

You may purchase a Hedpay Fund Package via our website or using the Hedpay App - anytime, anywhere!

How different is a Hedpay Fund Package from a Hedpay Mc Wallet?

The Hedpay Mc Wallet is for safe keeping your various funds. You can transfer your funds in and out of Hedpay, you can transfer to other Hedpay users, or you can use to trade or exchange currencies.

Hedpay Fund Packages are for earning interest on your savings, which are applicable only to Hedpay tokens.

What is the minimum amount to stake in a Hedpay Fund Package?

The minimum start package value is 10,000 Hdp, and the maximum value is 500,000 Hdp.

Do I need to wait until maturity to get my interest?

The interest rate is set according the amount staked, on an annual basis and paid monthly. The interest is added to your Hedpay MC wallet, free to be used immediately.

Is there a bonus interest if I stake for more than one year?

Yes! There is 10% bonus added to the original staked amount at the end of the first year. The interest on the second year will be calculated on the bonus as well.

Is there a penalty for cancelling my Hedpay Fund Package before maturity?

As previously mentioned, the interest is calculated on an annual basis and paid monthly. Upon cancellation, you will lose the interest of the current month.

What is “early withdrawal” or “pre-termination”?

Early withdrawal or pre-termination is considered the same as a cancellation (see above).

How can I upgrade my Hedpay Fund Package?

You cannot upgrade the staked package. However, you can always add a new one.

How can I close my Hedpay Fund Package?

You don’t need to close a Hedpay Fund Package. It will close automatically at maturity.
You can choose to close the Hedpay Fund Package by cancelling it at any time. However, you will lose the accumulated interest.

How many Hedpay Fund Packages can I own at the same time?

There is no limit on the number of packages you can hold. Although the number of available packages is limited to a preset amount.

How is the tax for a Hedpay Fund Package calculated?

Tax declaration is based on your domiciled tax jurisdiction and it is your responsibility to declare as required.

When will my interest be credited to my account?

Before the 5th of each month. Your previous month’s interest will be credited to your Hedpay MC Wallet.

What is a Hedpay Mc Wallet?

The wallet allows you to deposit, store, stake, transfer, and exchange crypto and FIAT currencies such a US$, CAD$, EURO, and GBP, and it is secured with private keys.

How do I open a Headpay Mc Wallet?

As soon as your Hedpay account is approved, your wallet will be activated.

What is the minimum amount which can be deposited in a Hedpay Mc Wallet?

The minimum value is set to $30 USD or the equivalent in any currency.

What is the maximum amount which can be deposited in a Hedpay Mc Wallet?

There is no maximum limit to deposit in Hedpay MC Wallet for cryptocurrencies.

There is a limit for FIAT currencies on new accounts based on the banking laws of your jurisdiction (applicable if any).

Also, the limit depends on your gradual use of the account, which can be up to $10,000,000 USD or the equivalent per currency.

When can I access the money/cryptocurrencies in my Hedpay Mc Wallet?

Anytime, anywhere with the Hedpay App or via our website. Please refer to the Transfers section to learn about transfer delays.

Is my money safe with Hedpay?

The Hedpay MC Wallet is an innovative, proprietary, decentralized finance application based on Ethereum Blockchain.
According to the decentralized “Cryptocurrency” Blockchain technology, all Hedpay MC Wallets have unique private KEYs and addresses, which are safe and securely held in an encrypted database.

How can I exchange my tokens for FIAT money?

To exchange the cryptocurrencies in your wallet to FIAT money, go to the “Trade” section from the menu. You can then move the required amount to the trade account provided to you and exchange to the desired cryptocurrency or FIAT as the availability of BUY or SELL orders.

(see Exchange section for more details)

How do I transfer funds to my account?

Once you login to your account, go to the “Wallet” section from the menu and follow the link to “Deposit”. Simply follow instructions to add funds to your Hedpay account.

Are there any fees for adding funds to my account?

There are no fees for adding funds.

Are there any fees for transferring funds?

There are no fees and no limits for transferring funds between Hedpay users.

When transferring in and out of Hedpay, there will be fees charged based on the services used, the currency exchange, and corresponding banking fees.

How can I make a transfer to another Hedpay platform user?

First, set the recipient and save in your contacts to make transfers. You can set up recipients by using their QR code or UID number. Then go to the “Wallet” section from the menu for internal transfers. Select a recipient from your contacts to initiate a transfer.

How can I make a transfer (a payment) to an external account?

To make a transfer or a payment, you need to first have the banking information of the recipient. Then, simply follow the instructions for “Withdraw” or “Send”.

What is a withdrawal? How does it work?

A withdrawal is the same thing as a transfer initiated to your own bank account.

How do I transfer in monies to Hedpay account?

You can transfer to your Hedpay account via a bank transfer, by performing a standard (IBAN) transfer. To avoid delays and misplacement of funds, you must include your UID number ONLY in your Reference section of the bank transfer.

Please refer to the banking information section for incoming transfer instructions.

What is the banking information for incoming transfers?

I transferred funds into the account but do not see them yet!

Once the funds are received at Hedpay accounts, it takes less than 24 hours during normal business hours to credit your account, however, it may take 48 to 72 hours over the weekends or holidays.

NOTE: There may be delays from your bank if the information is not entered correctly. If your funds do not appear in your account within 5 business days, please contact the support team as well as your bank. Funds may have been returned to the sender.

How long does it take digital assets to appear in my Wallet?

If you funded your account in digital assets (BTC, ETH, USDT or HDP) when generating the transaction, due to blockchain technology that requires a minimum of 6 confirmations in general, this may take anywhere between 10 minutes or 1 hour depending on the traffic of the blockchain.

What is the limit for a Hedpay-Hedpay transfer?

You can see the latest transaction limits here: (link)

How much is the fee for a Hedpay-to-Hedpay transfer?

It’s 100% free! Spread the good news and enjoy more freedom.

How do I transfer funds to another bank account?

Super easy! Go to your Home screen, select Send, and follow the instructions.

Select the destination account and provide the required bank details as well as the amount you want to send. Then, perform the required authorization and you’re done!

How do I transfer funds overseas?

You can transfer to any bank, local or international, as long as you provide all the required information and necessary details for the destination account.

I typed the wrong account number as the recipient of my fund transfer. Can I cancel or undo the transfer?

A fund transfer instruction, once submitted after you key in your OTP, cannot be cancelled or reversed.

Please make sure you enter the correct account number before keying in your transaction OTP.

Where can I download the Hedpay App?

You may download the Hedpay App from either the Apple App Store or the Google Play Store.

What are the minimum OS requirements to be able to download the Hedpay App?

For iPhone users, the minimum supported software system is iOS 10.0.0

For Android users, the minimum supported OS is Android OS 7.0.0

What are the minimum hardware specifications needed to operate the application on my mobile phone?

Your mobile phone needs to have a front-facing camera. It is also recommended that your phone has at least 3GB of RAM.

Why is the Hedpay App requesting permission to access my location, contacts list, camera, and photos?

The app needs to access your location, contacts list, camera, and photos to function properly.

Your location and camera are used for security purposes and to pass the KYC/AML verification process, which allows full functionality of the app on your phone.

Your contacts list is used for selecting fund transfer recipients.

Your camera and photos are also used by you for account customization.

Who can register as a Hedpay user?

CANADA
1. At least 18 years old
2. Has a residence In Canada
3. Has a valid email address
4. Has an active Canadian mobile number
5. Does not classify under the United States FATCA

EUROPE
1. At least 18 years old
2. Has a residence in the UK, EU/EEA
3. Has a valid email address
4. Has an active mobile number (linked to the jurisdiction in question)

UNITED STATES (a disclaimer for SEC)
1. At least 18 years old
2. Has a residence, proven address
3. Has a valid email address
4. Has an active mobile number (linked to the jurisdiction in question)

ASIA
1. At least 18 years old
2. Has a residence, proven address
3. Has a valid email address
4. Has an active mobile number (linked to the jurisdiction in question)

How do I register?

You could register directly on this website through the sign-up page or you could download and install the Hedpay App / Connect to the Hedpay platform and then register by going through our app’s onboarding process.

Do I need to present any ID before I am able to open an account with Hedpay?

No, you don’t need an ID to open an account. If you do not have any of the accepted IDs at the time of registration, you may still register by skipping the ID upload step.
However, the account created will be limited to a maximum balance of 10,000 Hdp. and a 12-month validity period. The said balance limit and validity period will only be lifted once you are able to upload one of the accepted IDs to the application.

What are the accepted IDs?

1. Passport
2. Driver's License
3. Unified Multi-Purpose
4. Social Security System
5. Etc.

How do I properly perform a Face Identity Scan?

Your face will be the key to validating your identity and account ownership through our facial recognition security feature. For this very reason, please make sure to:
•  Find a well-lit location, so that your mobile phone’s camera can accurately scan your face.
•  Remove anything that may prevent the app from scanning your full face (such as a mask or any eyewear).
•  Directly face the camera and position your head within the purple frame that you will see on screen.
•  Follow instructions to complete the required steps.

How can I logout from the Hedpay App?

You will be logged out automatically when your application has been inactive for five (5) minutes.

If you want to logout completely from the app, you may also press logout.

You may reset the app and password, where you will be required to set up a new password and perform face verification / Face Identity Scan on your next login.

Can I login from another device?

Yes, you can. However, you may only access your Hedpay account from a verified device at any given time. Only one (1) verified app or mobile device is allowed.

How can I change my registered phone number?

You can call Hedpay Customer Care at +514-525-7895 to have your registered phone number changed.

I uploaded a valid ID during the registration process, but my name is not being scanned properly. What should I do?

You should call Hedpay Customer Care at +514-525-7895 so we may assist you with your registration.

Generally, if you follow the steps of the ID upload correctly, the validation process will work properly. The system will not accept or pass faulty or blurry documents.

Do I need to reset my password every time I change my device?

Yes. For security reasons, you may only access the Hedpay App from one (1) verified device. If you wish to access your account from a different device, it has to be verified by you or you will be prompted to reset your password in the new device.

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