ABCC partners with Simplex to enable credit card payments for crypto. Buying BTC and ETH with a credit card on ABCC is fast and simple.
Before you jump into fiat trading on ABCC, make sure you have ABCC account, and complete KYC or enable SMS Authentication (for your account safety).
Make sure Simplex services are available in your region. Check Supported Countries for Simplex Partners. Also, you have to have a Visa or Master card.
2. Select the cryptocurrency to purchase, amount of purchase and payment currency. Payment amount and corresponding transaction fee will be calculated automatically (each payment shall be no less than 50 U.S. dollars/euros and less than 20,000 U.S. dollars/euros, inclusive of the transaction fee). Confirm all the information, click Confirm to go to Simplex. An Payment ID will be generated. Please save Payment ID, as you'll need it to check payment status on Simplex.
You will be directed to Simplex after clicking Confirm in this step.The purchase will take place in Simplex.
3. Confirm amount of payment, transaction fee and total payment amount. And enter your personal details and billing address.
4. Once you filled all required information and verified all information, click on CONTINUE to proceed to the next step. If it’s your first time to use Simplex, please verify your contact information.
5.Enter your credit card information to complete the purchase.
6. You may be asked to provide additional verification to complete your purchase. If this is the case, please complete the verification step.
That’s all! You will now be directed back to ABCC. Your purchase usually takes about 10-30 minutes to complete.
Q1. What is buy cryptocurrencies with credit card service?
ABCC is partnering with Simplex to enable credit card payment for cryptocurrencies. You can now buy BTC and ETH with VISA or master card in U.S dollars and euros.
Q2. What is Simplex?
Simplex is a fintech company that provides worldwide fraudless payment processing. It is an EU licensed financial institution with a proven track record in precarious cryptocurrency environments.
Simplex’s AI technology analyzes every transaction using proprietary, fully automated, machine-learning algorithms that eliminate fraud while increasing conversion.
Q3. What is the transaction fee for each purchase?
Simplex charges 5% of the payment amount as the transaction fee (a minimum fee of 10 USD/euros will be charged if payment is lower than 200 USD/euros). ABCC does charge additionally. Do take note that each payment must be no less than 50 USD or euros.
Q4. What are the daily and monthly transaction limits?
The daily limit is equivalent to 20,000 USD and the monthly limit is equivalent to 50,000 USD.
Please note that the daily and monthly limits include the fees.
The daily limit is counted not as a calendar day, from 00:00 till 23:59, but as a 24-hour period since purchasing. The monthly limit is counted as a 31-day period since purchasing, and not as a calendar month.
Q5. Which cryptocurrencies does ABCC support for credit card payment?
For now, you can purchase BTC and ETH on ABCC using USD or EURO.
Q6. Which fiat currencies does Simplex support?
Simplex accepts U.S. and EUR dollars at present.
Q7. Which credit cards does Simplex support?
Simplex supports any VISA and Master Card (both credit and debit cards are accepted) issued by eligible countries (Check the list of countries that do not support Simplex).
Q8. Why the payment has to redirect to Simplex?
The payment services are provided fully by Simplex. Users are required to finish all purchasing procedures on Simplex.
Q9. I have already passed KYC verification at ABCC, why KYC again at Simplex?
For security reason, Simplex has to know that you are indeed the owner of the card in use, and Simplex may request a selfie for verification.
Simplex may ask you to go through another verification process for future transactions. Some delays may occur in the verification stage for various reasons, such as high demand for the cryptocurrency, potential fraud, technical errors, etc.
Please note that failure to complete the verification process will lead to a cancellation of the transaction and your card will not be charged.
Q10. Why was my payment declined and what can I do?
A payment can be declined for various reasons – an issuing bank or geographic location that is not supported, risk-related reasons, etc.
Unfortunately, we are unable to disclose our decline reasons because we’re protecting you from fraud. It’s nothing personal.
However, in certain cases, we may be able to advise the decline reason. Please contact email@example.com with your Payment ID and put “Decline Reason” in the subject line.
Q11. How can I check the status of my transaction?
You can easily check the status of your transaction on the Simplex Payment Status page.
To check the status of your transaction:
>> Click the “My Payment Status” button (on the top right of the main menu or from the support center page)
>> Insert your Simplex payment ID (this is is the long string of letters and numbers we sent you in the confirmation email)
>> Click “Go”
You will then be able to see the status of your payment.
If you run into any issue while checking the status of your transaction, or if you have any questions concerning the status message, please contact our support team in two ways:
Live chat through the bottom right side of our homepage
Submit a ticket through firstname.lastname@example.org
Q12: At ABCC, how could I know BTC or ETH deposit history made by credit card?
There is no way to check the deposit history made by credit card at present.
You may either check from your ABCC account or through blockchain browser.
For other inquiries with respect to Simplex, Card Processing, Payments, Verification and Where's My Crypto, you can check at Simplex's FAQ page.