How to Buy or transfer crypto on Phemex answers

Both fiat money and cryptocurrency deliver this utility, but are different in a number of key ways . Fiat money is legal tender whose value is tied to a government-issued currency, like the U.S. dollar, while cryptocurrency is a digital asset that derives its value from its native blockchain.

To fully enjoy all Phemex features without limitation, we highly recommend that you complete KYC .

Before you can use our OTC service, you must first enable your OTC account. Click on the Buy Crypto with Bank Transfer under the Buy Crypto header option. On the OTC Trading page, click the slider button next to “OTC Account Status” on the right side of the page.