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Phemex confirms Futures funds cannot be spent directly with Phemex Card
Phemex clarified that its Card only allows payments using USDC or USDT held in the Spot Account; funds in Futures cannot be used for direct card transactions and must first be transferred to Spot.
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According to Phemex, payments made with the Phemex Card can only use USDC or USDT from a user's Spot Account; funds held in Futures accounts are not eligible for direct card transactions and must be transferred to Spot before use. The support article further clarifies that only USDC and USDT are supported, sets out the transaction deduction order, and provides troubleshooting and refund guidance for users who may encounter declined payments or confusion regarding available payment sources.
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Phemex is a cryptocurrency exchange platform offering spot and contract trading in a variety of cryptocurrencies and tokens, including Bitcoin, Ethereum, and USDT. The platform features low trading fees, demo accounts, educational guides with earning opportunities, and flexible investment solutions, as well as mobile versions and a stable, fast trading environment. For more details, see the full broker profile on Traders Union.
For context, the previous Phemex update highlighted the launch of the HUMA/USDT futures contract with up to 20x leverage. Learn more by reading our previous Phemex update on Traders Union.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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