Cryptocurrency transfers are irreversible by nature, so always make sure before sending that:
You are using the correct wallet address
You are using the correct network (blockchain) supported by Kvarn X
You include all required identifiers (e.g. Tag / Memo)
💡 Tip: If you are transferring cryptocurrency for the first time or sending a larger amount, make a small test transfer first to confirm that the address works correctly.
How to Make a Crypto Deposit to Kvarn X
Mobile app
Go to the Transfer tab
Click Deposit crypto
Choose the cryptocurrency you wish to transfer from the list
Verify that you have understood instructions above by clicking "I understand"
Copy the displayed wallet address and any additional details (Tag/Memo)
Go to your external service (e.g. Coinmotion, Binance, your own wallet such as Ledger, etc.) and complete the transfer according to the instructions and confirmations provided there
Web version (e.g. Chrome or Safari)
Go to the Transfer tab
Select Crypto
Click Deposit
Choose the cryptocurrency you wish to transfer from the list
Select the network to be used (e.g. BTC, ETH, Polygon)
Copy the displayed wallet address and any additional details (Tag/Memo)
Go to your external service (e.g. Coinmotion, Binance, your own wallet such as Ledger, etc.) and complete the transfer according to the instructions and confirmations provided there
Processing Time and Tax Considerations
⚠️ Please note: Blockchain confirmation times vary between networks.
Kvarn X will only credit the transfer to your portfolio after the required number of network confirmations has been received.
Transfers can be viewed under the transactions tab, and you will receive a notification once confirmation details are available.
Sender Information Collection
Before a crypto deposit can be confirmed into your Kvarn X portfolio, you must provide sender details:
Who is sending the funds?
Myself
Another third party (for example, a family member or a company)
Where are the funds coming from?
My own wallet (Ledger / Trezor / Metamask / Phantom)
A crypto service (e.g. Coinmotion, Binance, Kraken, etc.)
After filling in the details carefully, click Submit.
Once all the required information has been successfully provided and the transaction has received the necessary confirmations, the funds will be credited to your portfolio.
Taxation
When transferring cryptocurrencies, it is important to record the following details for your personal tax reporting:
Basic transaction details (date, amount, cryptocurrency)
Acquisition price (cost basis)
Any trading or transaction fees
You can define the acquisition price of the transferred cryptocurrency directly during the transfer process in the Kvarn X service.
This allows for:
More accurate tracking of profits and losses
Maintaining a correct FIFO (First In, First Out) record chain
Easier reporting to the tax authorities
⚠️ The user is personally responsible for reporting capital gains and losses to the tax authority.