Question 1

Who can join My Coin Auction?

Accepted Answer

Any South African resident with a valid ID document, a South African mobile number and a sponsor/referral ID from an existing member.

Question 2

How does verification work?

Accepted Answer

After registering you confirm a one-time PIN sent to your mobile number, then upload your ID document and a selfie. An administrator reviews the submission manually and approves or rejects it.

Question 3

When do auctions run?

Accepted Answer

Twice every day. The exact session times are configured by the administrator and shown on the schedule page in South African Standard Time.

Question 4

How do I pay for a coin I win?

Accepted Answer

You pay the matched seller directly by EFT into their bank account. Their banking details are released to you only for that transaction, and you upload proof of payment afterwards.

Question 5

When can I sell my coins?

Accepted Answer

Once a coin reaches the end of its maturity plan (5, 10 or 20 days), you can list it for sale in the next auction session at its matured value.

Question 6

What is a referral bonus?

Accepted Answer

When someone registers using your sponsor ID and completes a purchase, you earn a bonus at the percentage configured by the administrator. Bonuses appear in your dashboard under Bonus income.

Question 7

What happens if a buyer does not pay?

Accepted Answer

The seller can flag the transaction as disputed. The administrator reviews the proof of payment and bank records and resolves the transaction.

Question 8

Are my banking details safe?

Accepted Answer

Yes. They are masked everywhere in the platform and are only revealed to a single counterparty while a matched transaction is awaiting payment.

Frequently asked questions