What is a Request for Quote? (RFQ)

An RFQ is when you intend to buy or sell a cryptocurrency with either fiat (ZAR, USD, GBP , AUD … ) 
or another cryptocurrency, and wish to contact the trading desk to perform this transaction.

There are a few ways to initiate this RFQ on the chat:

Live Pricing:

If you would prefer to know the exact price before a trade is completed, we could provide a live price for execution. Due to the fast-moving market,
this price quotation can only be fixed for a short period of time before you must decide to trade (normally around 5 to 10 seconds). 

Limit Orders:

If you intend to buy or sell, but do not think the market pricing is optimal yet. 
You can leave a Limit order with the trading team to enter into the system. Once the level is reached, and the order is filled, we will notify you via email with a confirmation receipt.Limit Orders


What is the settlement process?:

Once a transaction has been confirmed, an email receipt detailing the trade information will be sent to the client. To trade at SADAX, we require your account to be pre-funded with fiat currency or digital assets.
The settlement process will be facilitated via EFT (Electronic Funds Transfer ) or credit/debit card within the client’s account and will take place according to the details of the transaction. 
Following the completion of the settlement process, clients can monitor and deploy any of the cryptocurrency assets within their portal as they see fit. 


What are the delivery and storage options?:

Should the client wish to utilise SADAX’s custody services, they must complete the custody agreement. Upon completion, 
clients can access their wallet address by clicking the deposit button under the ‘Crypto’ section. 

Choosing to take advantage of SADAX’s custody service allows clients to use SADAX’s incorporated insurance coverage as well as a range of yield-generation offerings.

Alternatively, if you wish to store the assets privately using alternative storage devices, such as a cold wallet, you can transfer from the custody account by pressing the “withdraw” button and adding your external wallet address.