🧑🤝🧑FAQ
Q: How does EGSPectre Work?
A: EGSpectre utilizes the Monero blockchain for the purpose of enhancing the privacy of your transactions. The process involves an automated sequence: it begins by converting your chosen input currency to Monero on one exchange, then subsequently transfers this Monero to a different exchange where it is traded into your desired receiving currency. Since Monero operates on an anonymous blockchain, the simple action of moving Monero from one exchange to another effectively severs the connection between the sender's and receiver's wallets.
The fundamental essence of EGSpectre lies in its role as a collector of top-tier non-custodial exchanges. Once a User Swap Request is initiated, the platform takes charge of directing these requests to non-custodial instant exchanges that are renowned for their quality.
It's crucial to note that EGSpectre maintains a strict stance of non-involvement when it comes to users' Digital Currency. At no juncture do we gain access to users' digital holdings. The company refrains from intervening in user transactions, abstains from receiving user deposits, avoids handling user funds, and does not impose any fees on user transactions.
Q: Does EGSpectre Charge any fees?
A: EGSpectre extends its services to users free of charge. The platform generates income by securing a commission from the exchange to which it refers users. Importantly, this commission is subtracted from the exchange's spread, without imposing any additional cost on users who opt for EGSwap over engaging directly with a partner exchange.
Q: Do I have to send the exact funds to the wallet shown? Can I send less or more?
A: You have to send the exact funds to the wallet shown otherwise your transaction will not be processed. If you make a mistake or send incorrect funds, don't worry, they are most likely not lost. Raise a ticket in Discord and our admins can help track the transaction for you to help recover your funds. But to save time for everyone, ensure you send the correct amount of tokens to the wallet shown.
Q: Do you need to connect your Web3 wallet to EGSpectre in order to initiate a transaction?
A: Absolutely not. EGSpectre operates without the necessity of connecting a wallet to facilitate transactions. The process is incredibly simple: select a currency pair, designate a recipient wallet address, and dispatch your funds to the EGSpectre wallet address. Wait for the magic to happen. It really is that simple.
Q: Does EGSpectre have Know Your Customer (KYC) and Anti Money Laundering (AML) obligations?
A: EGSpectre automatically blocks any wallets belonging to sanctioned entities.
Sanctioned entities refer to entities listed on economic/trade embargo lists, such as by the US, EU, or UN, with which anyone subject to those jurisdictions is prohibited from dealing. This includes the Specially Designated Nationals (SDN) list of the US Department of the Treasury’s Office of Foreign Assets Control (OFAC). EGSpectre checks our internal database, the SDN list, and many other third-party data providers to block wallets known to carry out illicit trading.
Additionally, EGSpectre transactions adhere to a non-KYC approach; nevertheless, concealed within the system are automated filters that function to prevent any illicit undertakings within the platform. These filters, overseen by our partnered exchanges, are synonymous with Anti-Money Laundering (AML) protocols.
Should a transaction raise concerns regarding potential criminal involvement, the exchange partners might necessitate supplementary information in accordance with their KYC/AML regulations.
In the improbable occurrence of such an event, EGSpectre will undertake one of two actions: either connect you with the exchange partner for resolution or defer to the exchange partner's preferred remedial procedure.
Q: I sent my funds but now it shows the status as ‘Order Expired’. Is my capital at risk?
A: No. Your funds are safe. Contact us and we will happily look into this for you
Q: My EGSpectre Order status shows that my order is completed, but funds were not received?
A: Sometimes, due to network congestion, your transaction may be "pending" and stuck in a queue to get processed. Firstly, open up your wallet in BscScan or EtherScan (or whatever chain you are transacting on) and check your transaction history. If you see a "pending transaction", this is most likely a network delay or gas issue which will resolve itself in time. If you do not see such a pending transaction, contact us, and will will look into this for you.
Q: What is Discreet Mode?
A: If anonymity is not important to you and you would like a faster transaction time, you can select Discreet Mode. Discreet mode is cheaper, faster and provides a higher level of privacy than public transactions. Although these are hard to trace, but not totally anonymous.
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