W8M8 EXCHANGE INC. – FAQ

1. What is W8M8 Exchange?

W8M8 is a Canadian-registered non-custodial peer-to-peer (P2P) / OTC cryptocurrency-to-fiat exchange.

We are a FINTRAC-registered Money Services Business (MSB #C10001484) operating under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

2. Do you hold my crypto or money (custodial)?

No. We are 100% non-custodial.

You always keep full control of your cryptocurrency and fiat. We never hold, store, or have access to your wallet private keys or your bank account.

3. How does a transaction actually work?

All trades start on a major P2P cryptocurrency exchange platform (such as Binance P2P) where we publish our offers.

All settlements use only Canadian bank accounts and must match your verified KYC name exactly.

4. Do I need to complete KYC / verification?

Yes — for any transaction (or in certain other cases).

We use KYC provider for fast, secure verification (government ID + selfie + liveness + proof of address).

KYC is required before we can process any deal.

5. When exactly is KYC required?

• Any crypto-to-fiat or fiat-to-crypto transaction
• Any international EFT ≥ CAD 1,000
• Large virtual currency receipt ≥ CAD 10,000 (24-hour rule)
• Suspicious activity (any amount)
• Before establishing a business relationship

6. How long does verification take?

Most users are verified in 2-5 minutes during business hours.

7. What payment methods do you accept?

• Only direct bank transfers (Interac) from your own verified Canadian bank account
• No cash, no third-party payments, no credit cards, no e-wallets
• Payer and payee name must exactly match your KYC details

8. What is the Travel Rule and why do you ask for extra information?

For any virtual currency transfer we are legally required (under FINTRAC) to collect and securely exchange originator and beneficiary information with the other virtual asset service provider. This is a standard international anti-money laundering requirement.

9. Are there transaction limits?

• No hard upper limit, but large transactions (≥ CAD 10,000 in 24 hours) trigger additional reporting and may require extra verification.
• High-risk users may have temporary velocity or amount limits for safety.

10. Can I use a third-party bank account or wallet?

No. All payments and wallets must belong to the verified account holder. Third-party payments are strictly prohibited and will result in the transaction being cancelled and possible account suspension.

11. What happens if I send to the wrong wallet address?

Crypto transactions are irreversible. If you send to the wrong address, the funds are permanently lost. Always double-check the address we provide.

12. How do I get help or report a problem?

• Open a support ticket only through the official website
• For compliance or regulatory questions: compliance@w8m8.net
• We never ask for your seed phrase, passwords, or 2FA codes

13. Do you report to FINTRAC?

Yes — as required by Canadian law we file:

• Suspicious Transaction Reports (STR)
• Large Virtual Currency Transaction Reports (LVCTR ≥ CAD 10,000)
• International EFT Reports (EFTR ≥ CAD 10,000)

All reports are filed securely and confidentially.

14. What if I have a complaint or dispute?

Please open a support ticket immediately. All complaints are reviewed by our Compliance Officer. Refunds (if any) are only sent back to the original verified source after screening.

15. Is W8M8 safe?

• We are fully FINTRAC registered and follow Canada’s strictest AML/CTF rules
• We use enterprise-grade screening and never hold your funds
• We have zero tolerance for scams, third-party payments, or mixers