Articles on: Transactions

Locked Withdrawals

There are a number of reasons why your withdrawals may be locked or restricted on Morpher. If you find that your withdrawals are disabled, there are a number of actions you can take to enable withdrawals, allowing you to freely move your tokens and funds to and from Morpher.

Withdrawals are unlocked for “Investor” and “Mogul” accounts. Learn more about Account Levels

Why are my withdrawals locked?

By default, if your account uses only tokens that are gained from rewards or have deposited under $50, your withdrawals will be disabled. Tokens received through referral rewards, can be freely traded and are meant to help start your journey as a trader on Morpher. We want to encourage our users to trade, learn about the markets and finance, and get to know our platform before committing their own funds.

Users who have an account value over $300 or deposit over $300 will have their withdrawals locked until they can verify their identity by completing KYC.

How to Enable Withdrawals?

There are several ways to enable withdrawals on your account, which will allow you to withdraw any amount of your tokens (including tokens earned through referrals).

1. Token Deposit

Depositing a total of $50 worth of MPH to your Morpher account/wallet will unlock withdrawals permanently. Once you've deposited, you will immediately be able to freely withdraw and deposit, so long as your portfolio value doesn’t exceed $300.

This will require you to buy MPH on an exchange, and deposit it from your crypto wallet.

2. Credit Card Direct Deposit

You can also buy MPH directly from us using a credit or debit card. The MPH you buy will automatically be credited to your account. This is a good solution for users that want to avoid dealing with cryptocurrency exchanges and/or wallet operations. Credit card and debit card deposits are available via Volet and Moonpay

Not all countries and payment cards are accepted or supported. Go to the credit card deposit page to see if your country appears in the drop down list.

3. Paypal Deposit (after 185 days)

If you're not in a hurry to withdraw your funds, then you can deposit using Paypal and earn an additional 10% in tokens on your deposit (Min.$50). You will receive your tokens immediately, and withdrawals will be unlocked after 185 days. Also, if you redeposit using paypal, your withdrawals will be locked for an additional 185 days

4. Crypto Deposit

You can also use other cryptocurrencies through Coinbase to purchase MPH directly on the sidechain.
Learn how to fund your account using Coinbase with our step-by-step guide.

5. Verify Your Account

Once your account reaches $300, your withdrawals will be suspended until you verify your account and upgrade your account level to Mogul. After you complete the KYC check, you can manage a portfolio of any size.

Frequently Asked Questions

Is there a minimum deposit amount?

Yes - the minimum purchase is $50 worth of MPH to unlock your withdrawals. The transaction fees will vary depending on which deposit method you choose, but the total MPH deposit amount has to be at least $50 worth across all deposit methods.

Are there deposit and withdrawal fees?

Yes - and it depends on the transaction method. There are two types of fees you need to consider; blockchain fees, and processing fees. Morpher doesn't charge fees, but payment processors, banks, and credit card issuers charge you fees - one way or another. Transacting on the Ethereum mainnet can also be costly, as each transaction - such as sending tokens from the sidechain to the mainchain - requires gas fees. Gas fees are a big part of Ethereum and what fuels its network, and they constantly change depending on network demand. We understand that sometimes these fees can exceed your airdrop amount, however it is not something we can control.

For more information concerning deposits go to the deposit methods page.

Updated on: 25/04/2024

Was this article helpful?

Share your feedback


Thank you!