How to use Banxa to buy crypto on Bitget
Bitget
2022-10-27 10:09
Dear Global Bitgetters,
How to get started for Banxa?
1. Log in to your Bitget account and click [ Buy crypto] - [Third-party Payment] from the top navigation bar
2. Choose the fiat currency and the crypto you want to buy. Enter the amount you want to spend in fiat. Select [BANXA] as the payment channel and click [Next].
3. You will be redirected to BANXA’s website when you have agreed to the terms and click [CONFIRM]
4. You can review your order and choose your payment method here. Click [Create Order].
Please note:
For SEPA Bank Transfer, Sofort, and iDEAL – the bank account has to be in your name (i.e. the name of the person creating the order has to be the same as the name on the bank account). SEPA payments are available in Europe and may take 1-2 business days to clear. A receipt is required. Sofort payments also take 1-2 business days. iDEAL payments are instant.
For Visa/Mastercard – the card needs to be your personal (not business) card and has to be in your name. Payments with Visa/Mastercard are processed instantly. However, the transaction will be put through as a pre-authorization only to hold the order. The actual payment amount is taken only when the order is fulfilled.
5. If you are purchasing for the first time from Banxa through Bitget, you will need to go through a verification process. In this step, you will be able to enter your contact details, including email address and phone number.
Note: Please double-check if you entered both correctly as that is the email address Banxa will use to get in touch with you regarding your order, and they might also reach you via SMS, depending on the payment method you choose.
6. Enter your personal details (name, date of birth, country of residence, and your address).
7. You need to upload a photo of your ID document on Banxa. Please read the instructions provided during the process carefully.
Note: Failure to follow instructions may result in Banxa’s order being delayed or canceled. Your document needs to be valid and current. Also, please ensure that when you take a photo of your document, all important details are visible and not obscured in any way. For more details on the verification process, please check here.
8. You also need to upload a selfie while holding your ID (the same ID you uploaded in the previous step). Please follow the instructions during the process carefully.
Note regarding Banxa Identity Verification: The selfie needs to be clear, not blurry, and without any glare. Your face must be clear, and the information on the document you are holding has to be readable. The photo must be taken on the day of your order. Failure to follow instructions may result in your order being delayed or canceled. Please also note that creating the order does not necessarily mean you have passed verification. The process is happening in the background, and if you do pass it, your order will be fulfilled. If you do not, it will most likely be canceled and refunded.
9. After submitting the documents for verification purposes, you will enter your payment details. Please make sure you are using your personal card (a card that is in your name), or a bank account in your name.
10. After the payment, you can see your order status. You will be given the option to be redirected back to Bitget. BANXA will notify you of any order updates via emails, such as when the payment is received, when the transfer started, when the order is fulfilled, etc.
When the transfer starts, you can check your transaction status on the blockchain network. You will receive a link in the email to check how your order is progressing. When your order is fulfilled, i.e. the transfer is completed and the transaction is verified on the blockchain network, your purchased crypto will be visible in your Bitget Spot Wallet.
Note: The fact that the transfer started does not necessarily mean it is confirmed on the blockchain right away (this takes time and is dependent on the network speed). Please wait patiently.
Other FAQs
1. How can I get updates about my transaction?
Banxa will notify you of any order updates via emails, such as when the payment is received, when the transfer started, when the order is fulfilled, etc.
2. Can I track/monitor my transaction status to know if there is progress?
Yes. When the transfer starts, you can check your transaction status on the blockchain network. You will receive a link in the email to check how your order is progressing.
3. How long will it take for my wallet to be credited?
The fact that the transfer started does not necessarily mean it is confirmed on the blockchain right away (this takes time and is dependent on the network speed). Please wait patiently. When your order is fulfilled, i.e. the transfer is completed and the transaction is verified on the blockchain network, your purchased crypto will be visible in your Bitget Spot Wallet.
4. What is the minimum order amount on Bitget through Banxa?
The minimum amount to buy is $50
5. What are your supported payment methods?
Banxa offers a number of ways you can complete your cryptocurrency purchase. Not all methods are available in all countries, so please confirm you have access to a specific payment method. When choosing your payment method, please consider the required processing time as this may impact the speed of your purchase being fulfilled. In some cases, the money will be deducted from your account, but there is a time delay for this to reach our account/s and be verified.
| Payment Method | Description | Acceptance time* | Receipt required | Payment Surcharge |
| Visa/Mastercard and Apple Pay | Payments made with a credit card, debit card or using Apple Pay. | Instant | No | 1.99% |
| Google Pay | Payments made with a credit card, debit card or using Google Pay. | Instant | No | Free |
| SEPA | Bank transfers made in Europe. | 1 business day | Yes (for non-stable coins | Free |
| Interac | Payment network only available in Canada for interbank transfers. There is a $3000 limit for Interac purchases. |
Instant | No | Free |
| OSKO/Pay ID | Bank transfers made in Australia. | 1-3 business days | No | Free |
| Faster Payments | Bank transfer made in the UK | Instant | No | Free |
| POLi | POLi is an online payment option that facilitates a Pay Anyone internet banking payment from your bank account to a merchant.
POLi is a payment network only available in Australia. |
1 business day | No | 2.00% |
| iDEAL | Payment network available to Dutch customers. | Instant | No | Free |
| Wire Transfer | Bank Wire transfers in USA | 1 business day | Yes (for non-stable coins) | $15 USD |
| PIX | Payment network available to Brazilin customers | 1 business day | No |
6. What type of cards are accepted?
Banxa supports Visa and Mastercard
7. Can I use Apple pay and how does it work?
Yes, Banxa supports Apple pay
8. Can I use a bank transfer to make a purchase?
You can use some bank transfers to complete your purchase through Banxa, please see the available payment options to confirm if bank transfer is available in your country.
Bitget Team
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