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Answers to common questions about using Southledger.

FAQ

Frequently asked questions

Quick answers to the questions we hear most.

What is a recovery phrase and why does it matter?

It's 12 words created in your browser when you sign up. It's the fastest way to reset your password if you forget it. Southledger never sees or stores it, so write it on paper, keep it offline and never share it. If you skipped it at sign-up, create one any time from Security.

I forgot my password. How do I reset it?

Go to Reset password, enter your email and your 12-word recovery phrase, then choose a new password. The phrase is checked in your browser and never sent to us. Every other browser is signed out afterwards.

I've lost my recovery phrase. Can I get back into my account?

Yes, with an identity check. Contact support and we'll ask you to re-verify your ID with a live selfie. For your protection there's then a 72-hour security hold: we notify you on every contact method we have, and sends stay paused until it ends. We can't recover or replace the phrase itself, and assets that can only be reached with it may be lost for good. Once you're back in, create a new phrase from Security.

How long does verification take?

The form takes about three minutes: your details, a photo of your passport or driver licence, and a selfie holding it. Our team reviews it, usually within 1–2 business days. You can follow progress on the Verification page, and if something needs fixing we'll tell you exactly what.

How do I buy, sell or swap?

Open your Portfolio and use the trade panel. Choose Buy, Sell or Swap, pick the asset and enter an amount. You'll see what you pay and what you receive, then review and confirm. Buying uses your AUD balance, and selling returns AUD to it.

What price do I get?

Prices are live AUD prices that refresh every minute. The review screen shows the amount before you confirm, and the final amount uses the price at the moment you confirm. Prices can move, so it may differ slightly from what you first saw.

How do I send crypto to someone?

Choose Send in the trade panel. Send to another Southledger account by email, or to a wallet address on that coin's network. Check the address before you confirm. To deposit from your own wallet, choose Deposit. A QR code and address open for that coin. Scan the code or copy the address, and send only that coin on the network shown. It is added to your balance after the payment is checked.

How do I add Australian dollars?

Buys are paid in Australian dollars from your account balance. Save a bank account under Payment methods for AUD in your name.

How do I turn on two-step sign-in, and what if I lose my phone?

Go to Security and turn on the authenticator app, or add a passkey. Save the backup codes you're shown. If you lose your phone, log in with a backup code. If you don't have those either, contact support and we'll verify your identity before resetting it.

I think someone has accessed my account.

Change your password in Security, sign out every other browser, then email security@southledger.com straight away. If you think someone has seen your recovery phrase, tell us immediately.

Do I have to pay tax on crypto?

In Australia, selling, swapping or spending crypto can trigger capital gains tax. Keep a record of your trades, which you can see in your Portfolio's activity, and talk to a tax adviser or check the ATO's guidance.

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