Funding

To fund your MPEx account, sign and encrypt a string resembling:

DEPOSIT|10

with amount of whole bitcoins you want to send.

The Exchange’s response will include exact amount of BTC to send to the exchange address. Connecting deposits to accounts entails MPEx generating a precise amount for a user to deposit, and then that user sending that precise amount to MPEx. Because MPEx distributes transactions it can’t tie to deposit requests to shareholders as profits, users should consider at least the following when funding their accounts:

  • transaction fees - make sure you have set a transaction fee and that it will not be deducted from the amount you intend to send
  • mis-stating transaction amount - if MPEx cannot associate your funding amount with an amount they’ve quoted to users requesting deposits, MPEx will distribute the bitcoins to shareholders
  • the minimum amount to deposit is 10 BTC

This approach may seem unreasonable. On the other hand, keeping a single address for funding aids in preserving user privacy, and reduces exchange deposit processing overhead. It is absolutely possible with a modicum of technical savvy to send a specific amount of satoshis to a given Bitcoin.

Withdrawal

To withdraw funds from MPEx: sign, encrypt and transmit an order to the exchange consisting of a string resembling the following:

WITHDRAW|{1YoUrBiTcOiNaDdReSs123456789101112}|50000

Important notes:

  • unlike DEPOSITs, WITHDRAWALs are denominated in Satoshis, or one hundred-millionth of a Bitcoin
  • the minimum amount MPEx allows users to withdraw is 50000 satoshi
  • If you withdraw everything from your account, MPEx will switch your account into inactive state whereby nobody will be able to create sell orders.