Adding dollars

1. From your home screen, select the ‘Add Dollars’ button.

2. Select ‘Choose Adding Option’.

3. Choose your preferred deposit method.

4. Follow the instructions based on your chosen method to add dollars to Lava.

5. You can fund your Lava Vault using the following methods:

   1. Bank Transfer:

      • USD transfers from your bank go to your virtual LEAD bank account (available after KYC) and are automatically converted to LavaUSD and deposited into your vault.

   2. USDC/SOL Transfers:

      • Send USDC or SOL from an external wallet to your vault’s dollar receive address.

   3. Vault Transfers:

      • Transfer LavaUSD from another Lava Vault to your vault’s dollar receive address.

6. Fill out key details and accept our Terms of Service.

7. Complete the prompts to verify your payment method. Note that your data belongs to you and Lava never stores your information.

8. Once your deposit method has been verified and configured, you’ll be sent back to the ‘Add Dollars’ page where the previously greyed-out button will now say ‘Confirm’.

9. Enter the amount you wish you move from your deposit method and select ‘Confirm’ to add dollars to your vault.

Buying bitcoin

There are two ways to buy bitcoin within Lava:

1. Dollars within your vault.

2. Immediately through your bank.

To buy from your bank:

1. To purchase, select the ‘Buy Bitcoin’ button.

2. Choose your preferred deposit method.

3. Follow the instructions based on your chosen method to connect your accounts.

4. Once your deposit method has been verified and configured, you’ll be sent back to the ‘Buy Bitcoin’ page where the previously greyed-out button will now say ‘Confirm’.

5. Enter the amount you wish you move from your deposit method and click ‘Confirm’ to buy bitcoin to your vault.

To use dollars in your vault:

1. Enter the amount you wish you move from your deposit method and click ‘Confirm’ to buy bitcoin to your vault.

Next steps

Now that you’ve funded your Lava Vault successful, move onto creating and managing your loans.

FAQ

• Can I automate deposits into my Lava Vault?

  Yes! You can set up direct deposits from your employer using the LEAD bank account information provided once you complete the KYC process.

• Can I use my Lava Vault for anything besides borrowing and repaying loans?

  Absolutely. Your Lava Vault is a fully self-custodial wallet for both Bitcoin and Solana. You can send, receive, and store Bitcoin as well as assets on the Solana network.

• Can I access my Lava Vault from multiple devices?

  Currently, multi-device access isn’t supported, but this feature is coming soon.

• Can I have multiple Lava Vaults?

  Yes. First, complete the security flow and record a copy of your seed phrase. Then log out and select “Create Vault” again to set up a new one.

• Can I change my Lava Vault currency settings?

  Not at this time, but this functionality is coming soon.

• Why is my LavaUSD balance not updating?

  Please contact us at hello@lava.xyz. Include the following:

  1. Screenshots of the issue

  2. Your device ID (find it by opening Settings, then Security, and scrolling to the bottom to view and copy the debug device ID)

  3. A description of your issue

• How do I reset my Lava Vault login credentials or recover access?

  Follow the in-app instructions for resetting your credentials or recovering access. If you need further assistance, please contact our support team.

• Can I change my registered email or phone number?

  Yes. To update your email or phone number:

  1. Open Settings

  2. Go to Security

  3. Select Update PIN/Recovery Methods

• What happens if I forget my password or lose my phone?

  Make sure you’ve set up your Lava Smart Key. For instructions, please visit this guide.

• Can I send funds from my Lava Vault to another user's Vault?

  Yes, you can. Learn how to send funds to another Vault.

• Can I send funds from my Lava Vault to an external address?

  Yes, you can. Learn how to send funds to an external address.

• Can I set up automatic payments from my bank account to my Lava Vault?

  It depends on your bank’s offerings. You have the virtual bank account details, and all USD deposited into that account will be automatically converted to LavaUSD and credited to your vault.

• I swapped LavaUSD to USDC but haven’t received it in my Lava wallet. How long will it take?

  • LavaUSD ⇆ USDC: A few minutes

  • Bitcoin Trading: Execution takes minutes; withdrawals can take up to an hour

  • Crypto to Wire Transfer:

    • Less than $100k: A few minutes

    • $100k–$500k: 0–20 minutes

    • Over $500k: Up to one hour

  • Crypto to Same-Day ACH: Processed during 4 windows throughout the day; funds arrive the same day

  • Crypto to Next-Day ACH: 1–3 days

  • Crypto to SEPA Transfer:

    • Less than $100k: A few minutes

    • Over $100k: Up to one day

• Which regions is Lava available in? What currencies are supported for deposits and withdrawals?

  Everywhere in the U.S. besides New York, Florida, Alaska, and Los Angeles as they are excluded states.

• Why is my deposit taking longer than expected?

  There may be congestion on the ACH network. Please wait a little longer for the deposit to process.

• Can I cancel a deposit after initiating it?

  If you cancel it on your bank’s end before the payment is broadcasted, then yes. Otherwise, you’ll need to initiate a withdrawal to return the funds to your bank.

• Why did my withdrawal fail?

  This should not happen under normal circumstances. If it does, please contact hello@lava.xyz for assistance.