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FAQ

A place to find answers to the most commonly asked questions about Savl.

Each Savl user owns both a private (non-custodial) wallet and a market (custodial) wallet.

Private wallet

Private wallet transactions use public blockchains, network and transaction fees may apply and can take longer to complete. Higher fees can be paid to expedite your transaction. Your private wallet allows you to transfer assets by address, QR code, or via P2P with other Savl users.

Market wallet

Market wallet transactions happen within the Savl ecosystem, involve no middlemen, are instantaneous, and free. You can top-up your market wallet through the Savl P2P market, your private wallet, or by wire transfer from other Savl users.

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1. Tap the Send button on the Savl app main screen.

2. Select operation type, 'Between my wallets' or 'To wallet address or contact'.

3. Select Market or Private wallet to send cryptocurrency from.

4. Select the currency and amount.

5. Select one of methods:

- To the recipient's wallet address

- By QR code

- By Savl username

6. Adjust fee (for Private Wallet only)

7. Tap the 'Send' button.

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How can I top up my wallets in the Savl app?

Your balance in the Savl app is displayed in USD, EUR, or another fiat currency of your choosing. The value displayed is based upon the underlying value of your cryptocurrency and not fiat.

You can top up your wallets with leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), etc.

To Top-Up Your Private Wallet:

1. Transfer any cryptocurrency supported by the Savl app by the wallet address or QR code, or;

2. Purchase cryptocurrency via the 'Services' tab to use your debit/credit card or Apple Pay.

To Top-Up Your Market Wallet:

1. Directly from any external source that supports your desired currency.

2. P2P transaction within your Market wallet with another Savl user.

3. Purchase cryptocurrency via the Market tab and Buy or Exchange with other members of the community.

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1. Go to the Market tab or tap on the Buy button on the main screen, then Buy on Savl P2P Market to open the Buy subsection.

2. Select an Ad and tap on it. Carefully read purchase terms and tap on the large green Buy button.

3. Choose one payment method specified in the ad (if more than one is listed) and tap on the Next button.

4. Enter the amount you would like to buy (this can be done either in cryptocurrency or in USD, EUR, etc.).

5. Tap on the Start Trade button.

6. Follow further in-app instructions.

Important: please keep receipts, statements and other documents confirming your payment to the seller until the Trade ends!

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Absolutely!

1. Go to the ‘Services’ tab or tap the ‘Buy’ button on the home screen.

2. Tap on ‘Buy with debit/credit card’.

3. Select the asset class you wish to buy.

3. Enter the amount you would like to buy and tap ‘Continue’.

4. Follow any additional instructions from Savl or its trusted partners.

5. Completed transactions can be tracked via the Orders section within your shopping cart.

6. Transaction history can be viewed via the ‘History’ tab for both Market and Private wallet transactions.

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1. Select the ‘Market’ section and use either the ‘Buy’ or ‘Sell’ tabs to proceed.

2. After filtering based on your requirements, select an appropriate ad/offer and tap on it.

3. Carefully read the purchase terms and tap on the large green ‘Sell’ or ‘Buy’ button.

4. Select your desired payment method (if more than one is listed) and tap the ‘Next’ button.

5. Enter the amount you would like to trade in either cryptocurrency or fiat.

6. Tap on the Start Trade button.

7. Follow any additional instructions from Savl or its trusted partners to complete your transaction.

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1. Within the ‘Market’ section of the app, select either the ‘Buy’, ‘Sell’, or ‘Exchange’ tab.

2. Tap on the suitcase icon to enter the Dashboard

3. Tap on the ‘+’ button in the upper right corner.

4. Select the currency or cryptocurrency you wish to buy or sell.

5. Enter the amount of the selected currency or cryptocurrency.

6. Quick Ad: if selected, your Market wallet is used as escrow when accepting a trade request

7. Reposts: enables you to repost your ad and reward other users for reposting it or generating a trade

8. Choose your Ad type:

a. Dynamic price: the price is linked to market pricing and fluctuations, you can use the slider to adjust the % below or above the market price you wish to trade at

b. Fixed price: the price you set, is the price irrespective of market movements

9.In some cases, you can set minimum and maximum trade amounts for your Market Ads.

10. You can trade with any Savl user using the toggle slider. Verified users are shown by default.

11. Select the correct country to ensure the appropriate local payment methods are shown.

12. When purchasing, Savl offers a choice of seven different payment methods.

13. Specify your Trade Conditions clearly to ensure minimal confusion.

14. Tap ‘Confirm’ once you are satisfied with your Ad.

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'Ads': You don’t need to have a crypto balance in your Market wallet to place a regular Ad. However, as soon as a trade commences, you will need to transfer funds to escrow. This type of ad allows you to maintain liquidity and gives you greater freedom.

'Quick Ads': Unlike Ads, Quick Ads require a live balance in your Market wallet to trade. Upon commencement of a trade, you can instantly place your cryptocurrency to the secure Escrow account to complete the trade.

NOTE: Quick Ads are set by default and available for any cryptocurrency supported by Savl.

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User verification or KYC (Know Your Customer) is the process of collecting a users' identification, documentation, and other data for validation and to greatly mitigate the risk of fraud on our platform to ensure the safety and security of your assets.

Savl follows the latest industry KYC practices and uses best-of-breed software to collect and safely secure users’ data. Verification is semi-automatic, takes about 5 minutes, and is completely safe.

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For successfully completed trades on Savl:

• Ad Trade - Your Ads (buy, sell, exchange on your posted ad): 0.5% of the traded amount

• Ad Trade - Other Ads (buy, sell, exchange on another Savl users ad): 0.5% of the traded amount

• Sending: This is a dynamic fee calculated in real-time and shown at time of transmission

Important:

• Savl charges a network fee corresponding to the relevant blockchain. Savl fees are 0%

• Any Market wallet transaction to another Savl user (P2P) is completely free and instant

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• It enables the ads’ creator to allow other Savl users to repost an Ad using a unique link

• Savl users get rewarded for doing this by earning a referral fee or commission on successful trades

• All Savl users can read a reposted ad or share a repost link for a chance to earn a reward

• Buyers trading with this link are exempted from any Savl fees

• Repost/referral links lead to a special web page outlining all trade details and repost commission

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