Deposit

Overview

A deposit in QAAY is the transfer of digital assets from an external wallet or platform to your internal QAAY account.

Once the blockchain transaction receives the required confirmations, the deposited asset is automatically credited to your Credit Line Account and becomes immediately available for use within the QAAY ecosystem, including Borrow, Transfer, and Swap.

Key Concepts

Term	Precise Definition in QAAY (Deposit context)
Deposit	The transfer of cryptocurrency from an external blockchain wallet or platform to the user’s QAAY Account. The deposit is credited only after the required blockchain confirmations are completed.
Account	The user’s internal QAAY account structure includes Savings and Credit Line Accounts, where balances are managed. Deposits are automatically credited to the Credit Line.
Wallet (blockchain)	An external on-chain wallet or third-party platform used to send cryptocurrency to QAAY operates independently from QAAY account balances.
Asset	The specific cryptocurrency selected for deposit. Only supported and officially listed assets may be deposited into QAAY.
Address	A unique blockchain address is generated for the user based on the selected asset and network. Funds must be sent to this address exactly to ensure automatic processing.
Memo / Tag	An additional identifier is required for certain blockchain networks, such as XRP. If required but not provided, the deposit may not be automatically credited.
TxID (Transaction Hash)	The unique blockchain identifier for a transaction allows you to track and verify the deposit status on a blockchain explorer.
Credit Line	The internal QAAY account, where all deposits are automatically allocated. Assets in the Credit Line can be used for Borrowing, Transfers, Swaps, or Withdrawals.
Network Fee (Gas Fee)	The blockchain transaction Fee is paid to the network when sending assets. QAAY does not charge a platform Fee for deposits.
Swap	An internal crypto-to-crypto conversion tool that allows users to convert deposited assets into another supported cryptocurrency if needed. Swap does not support fiat deposits.

How It Works

Deposits allow users to transfer supported cryptocurrencies from an external wallet or third-party platform into their QAAY account. Funds are automatically credited to the Credit Line and become available for platform services.

Currently, QAAY supports deposits only via cryptocurrency transfers. Users must send supported digital assets from an external wallet or platform to their designated QAAY deposit address.

To deposit, navigate to Dashboard → Wallet → Deposit, select your asset and network, and copy your unique deposit address. Send the cryptocurrency from your external wallet using the same network. After broadcasting, the transaction is permanently recorded on the blockchain and enters the confirmation phase as defined by the network protocol.

QAAY accepts deposits only in officially listed cryptocurrencies: BTC, ADA, DAI, USDT, USDC, Dogecoin, Ethereum, Litecoin, Polygon, Ripple (XRP), Solana, Shiba, Floki, Bonk, Pepe, BNB, and the QAAY token. Depositing unsupported tokens is not recognized and may result in permanent loss.

Each supported asset must be transferred via an approved blockchain network: ETH, ARB, BTC, CELO, CRO, DOGE, FLR, FTM, KLAY, LTC, MATIC, XRP, SOL, TRON, AVAX, or OPTIMISM. The network selected in QAAY must match the sending network exactly; otherwise, the system cannot detect or credit the transaction.

After sending the transaction, the blockchain network validates it through confirmations. QAAY monitors the network and credits the deposit to your Credit Line account once the required confirmations are reached, making funds available for Borrow, Transfer, Swap, or other supported services.

Processing time depends on the selected blockchain network and its congestion. Confirmations may take from a few minutes to several hours. QAAY does not control blockchain speed; deposit finalization follows network validation rules.

Service Rules

To process a deposit in QAAY, certain operational and compliance conditions must be met. Deposits involve transferring supported cryptocurrencies from an external wallet to your QAAY account, subject to blockchain validation and platform security controls.

First, select a supported asset in the Deposit section. Only officially listed and enabled cryptocurrencies can be deposited. Sending unsupported tokens may result in unrecognized transactions and permanent loss, as blockchain transactions are irreversible.

Second, the selected blockchain network must match the sending network exactly. If there is a mismatch, the system may not detect the transaction, and recovery is not guaranteed.

Deposits from smart contracts are supported if executed on a supported blockchain network and using the correct token standard (such as ERC-20 or TRC-20). Ensure the correct deposit address and network are selected before initiating the transfer.

Third, use the deposit address exactly as displayed. Each address is unique to the user and asset. Copy the address directly or use the QR code; manual entry errors may result in permanent loss of funds.

Some blockchain networks require an additional identifier, such as a Memo or Tag, which the platform displays during the deposit process. If omitted, the deposit may not be automatically credited and may require manual review, which is time-consuming and not guaranteed to succeed.

Standard cryptocurrency deposits do not require prior KYC verification. However, large deposits may trigger compliance or security reviews based on internal policies and regulations. In such cases, users may be asked to complete identity verification before full access is granted.

Standard cryptocurrency deposits do not require prior KYC verification. However, in some cases, such as security monitoring or regulatory compliance, large deposits may trigger additional review. Users may then be asked to provide supplementary verification or supporting information.

QAAY does not impose minimum or maximum deposit limits for supported cryptocurrencies and charges no platform-level deposit Fees. The only cost is the blockchain network Fee, which is paid to the network and is outside QAAY’s control.

Fiat deposits are available only for Business accounts and require a minimum Value of 50,000 USD, along with additional onboarding procedures as defined by QAAY.

Deposit processing time depends on blockchain confirmations. Funds are credited only after the required confirmations are reached. This duration varies by network and may range from a few minutes to several hours, depending on congestion. QAAY does not control blockchain speed; deposit finalization is determined by on-chain validation rules.

What Happens Next

After sending cryptocurrency to your unique QAAY deposit address, the transaction is recorded on the blockchain, and a unique Transaction Hash (TxID) is generated. This allows you to track its status through a blockchain explorer.

Once recorded on the blockchain, the transaction enters the confirmation phase. Each network requires a specific number of confirmations for finality. In QAAY, transaction status is displayed only after confirmations are complete, ensuring data integrity and preventing premature recording.

QAAY monitors supported blockchain networks through internal systems and oracle-based validation. Once the transaction reaches the required confirmations, the system automatically detects, validates, and records it. The status changes to Completed, and the asset is credited to your Credit Line account. The updated value is immediately visible in both the portfolio and Wallet → Transactions sections.

If the wrong asset or network is selected during deposit, the system may not detect the transaction. Because blockchain transactions are irreversible, recovery is not guaranteed and may only be possible under specific technical conditions after manual review.

Once credited to the Credit Line, funds are immediately available for platform services such as Borrow, internal Transfer, Swap, or Withdraw, provided service requirements are met.

Usage Guidance

Following a few simple guidelines for QAAY deposits helps prevent errors and potential losses.

When depositing in QAAY, follow best-practice security and operational principles to minimize risk. While technical requirements are defined, careful user behavior is essential for a smooth and secure transaction.

Before initiating a transfer, carefully review all deposit details and confirm they match your intended transaction. Taking a few extra seconds to verify the asset, network, and address significantly reduces operational risk.

Temporary transaction delays are normal in blockchain operations. Network congestion, validator activity, and Fee dynamics can affect processing time. Patience during this phase helps avoid unnecessary duplicate transfers or confusion.

Blockchain transactions are irreversible once broadcast. Make decisions carefully before confirming any transfer from an external wallet.

Strong account security is essential for safe deposit management. Enable two-factor authentication, use a strong and unique password, and safeguard login credentials to reduce the risk of unauthorized access. Platform-level blockchain security cannot compensate for weak account-level protection.

In summary, careful verification, conservative transfer behavior, awareness of blockchain processing, and strong account security are the foundation of a safe and efficient deposit experience in QAAY.

QAAY does not currently support Web3 (WalletConnect or dApp) connections or direct Web3 wallet integration. Automated or recurring deposits are also not supported. All deposits must be initiated manually by sending funds to your dedicated QAAY deposit address. Once confirmed on the network, funds are automatically credited to your QAAY account in accordance with deposit processing rules.

Wallet Page