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FAQ
Do you operate officially?
Yes. CryptoInvest is included in the List of Crypto-Asset Service Providers maintained by the Central Bank of the Republic of Armenia. We operate in accordance with the legislation of the Republic of Armenia and comply with the regulator’s requirements.
Can I conduct a transaction anonymously?
No. Transactions involving crypto assets are carried out only after mandatory customer identification (KYC) in accordance with legal requirements.
How long does verification take?
Verification is completed automatically, takes only a few minutes, and is required only once. After successful identification, you can start using the service immediately.
Is the exchange processed automatically?
Most transactions are processed automatically. In certain cases, additional verification or operator assistance may be required.
How long does the exchange take?
Most transactions are completed within a few minutes. However, purchasing cryptocurrency via bank transfer and withdrawing funds to a bank account may take up to 1 business day, depending on the bank's payment processing speed.
Can I buy or sell cryptocurrency for cash?
Yes. We accept and dispense cash in Armenian drams (AMD). In accordance with the legislation of the Republic of Armenia, the maximum amount for a cash transaction cannot exceed 300,000 AMD.
Why are there limits on cash transactions?
The limits are established by Article 6.1 of the RA Law “On Cashless Transactions” and are mandatory for all market participants.
Can I withdraw funds to a bank card?
No. Funds are paid out to the client’s bank account. An account with any bank in Armenia is suitable.
Do you work with legal entities?
Yes. We serve legal entities and individual entrepreneurs.
What documents are required for legal entity verification?
The list of required documents is specified in Sections 13.1 and 13.2 of the AML/KYC Policy.
What is the exchange fee?
The commission amount depends on the transaction amount, the exchange direction, and the payment method. An exact calculation is available when submitting an exchange request.
Are there any hidden fees?
No. All fees are displayed before the transaction is confirmed.
Is it safe to use CryptoInvest?
Yes. CryptoInvest is included in the List of Crypto-Asset Service Providers maintained by the Central Bank of the Republic of Armenia. All transactions are carried out with mandatory customer identification (KYC) and checks in accordance with the requirements of the legislation of the Republic of Armenia.
Do you request proof of source of funds?
In most cases, such documents are not required. However, if necessary, we may request additional information to verify the transaction.
Does CryptoInvest report my transactions to the tax authorities?
We do not disclose client information to third parties without legal grounds. However, information may be provided to government authorities in cases provided for by law.
Can the tax service become interested in my transaction or require me to pay tax?
Tax obligations are determined by the legislation of the country where you are a tax resident. For questions regarding income declaration and taxation, we recommend consulting qualified tax professionals.