Tutorial

How to Buy Crypto with Fiat on Transak

How to Pay via Different Payment Methods

This tutorial will guide you through the process of purchasing cryptocurrencies like Bitcoin (BTC) or Litecoin (LTC) using your local currency on **Transak** and buying an account using that.

Before You Start: What You'll Need

Payment Method: Funds in your bank account, credit card, or debit card. Transak supports a wide range of fiat currencies (e.g., USD, EUR, INR).
Identification Documents (for KYC): Transak is a regulated service and requires Know Your Customer (KYC) verification. You'll likely need:
- Proof of ID (Passport, Driver's License, National ID Document)
- Proof of Address (Bank statement, utility bill dated within the last 3 months)
- A selfie with your ID (sometimes required for initial verification)
Note: KYC is usually a one-time process. Once approved, you won't need to do it again for future transactions.

Step-by-Step Guide

Go to the Transak Website or Integrated Platform

You can access Transak directly via their official website: transak.com. Alternatively, if you're using a crypto wallet or dApp that integrates Transak, look for a "Buy Crypto" or "Add Funds" option within that application.

Go to Transak

Select Your Fiat Currency and Cryptocurrency

Screenshot of currency selection on Transak

On the Transak interface, you'll find fields to select the currencies:

"You spend" (Local Currency): Enter the amount which was mentioned while you made an invoice on our site.
"You receive" (Cryptocurrency): Select the cryptocurrency you want to buy. , you can choose Bitcoin (BTC) or Litecoin (LTC)

The system will automatically provide an estimated amount of crypto we'll receive based on the current exchange rate and fees.

Choose Your Payment Method

Transak offers various payment methods, which may vary by region. Common options include Credit/Debit Card (Visa, Mastercard), Bank Transfer (SEPA, Faster Payments, ACH), and sometimes Apple Pay/Google Pay. Select the method that suits you best, keeping in mind that fees can differ.

Enter Your Wallet Address

This is a critical step! Carefully enter the receiving cryptocurrency wallet address.

Ensure the address is absolutely correct and supports the specific cryptocurrency and network you selected. Sending crypto to the wrong address or network can result in irreversible loss of funds.

Copy one of the following addresses (click to copy) and paste it into the wallet address field on Transak which you had selected:

Litecoin (LTC): ltc1qw5hcxmz8kmq8ky4p0apechxrr6qhr7mar98ywt Copied!
Bitcoin (BTC): bc1q9gyvpf83kmmnqg07qz560h0akvdxjszgw97t2d Copied!

Login/Sign Up and Complete KYC Verification

You'll typically log in with your email and verify it with a code. If it's your first time or if you're making a larger transaction, you'll need to complete KYC (Know Your Customer) verification.

Follow the on-screen instructions to upload your proof of ID and proof of Address. You might also be asked for a selfie with your ID. It's often easier to complete this step on your mobile phone for document capture. KYC approval is usually quick.

Review Order Details and Complete Payment

Before finalizing, carefully review the summary of your order, including the fiat amount, estimated crypto amount, all applicable fees (Transak fee, network/gas fee, partner fee), and the final exchange rate. Once satisfied, proceed to make the payment using your chosen method.

Receiving the Crypto

After successful payment, Transak will process your order and send the cryptocurrency to the wallet address you provided. The time it takes can vary based on network congestion and payment method. You'll typically receive a confirmation email once the transaction is complete.

Confirm Purchase on Our Website

After completing your purchase on Transak, you will need to return to our website. Locate the "Mark as paid" button, click it, and then enter the transaction or order number from your Transak purchase into the provided text box section to finalize the process on our end.

Receive Your Account.

If you have completed all the steps, please wait around 1-2 hours, as that is our average time to transfer the CODM account.

Important Considerations

Fees: Always review the detailed fee breakdown before confirming your transaction.
Limits: Be aware of minimum and maximum transaction limits, which depend on your KYC level and payment method.
Security: Always verify you are on the official Transak website or a trusted partner integration to avoid scams.
Support: If you encounter any issues, please contact us.

By following these steps, you should be able to successfully buy crypto from Transak using local currency!