Poloniex has partnered with payments processing company Simplex to enable users to buy ATOM, AVA, BCH, BNB, BSV, BTC, BUSD, DASH, DAI, ETH, EOS, LTC, PAX, QTUM, TRX, USDT-ERC20, XLM, and XRP with their debit and credit cards and have their purchase deposited directly on their Poloniex accounts.
See below for how to get started and common questions.
How do I get started?
To get started:
- While viewing the website, navigate to top menu and select Buy Crypto.
- Determine how you want your card purchase to be denominated. You can choose from USD, EUR, AED, ARS, AUD, AZN, BGN, BRL, CAD, CHF, CLP, COP, CRC, CZK, DKK, DOP, GBP, GEL, HKD, HUF, ILS, INR, JPY, KRW, KZT, MAD, MDL, MXN, MYR, NAD, NGN, NOK, NZD, PEN, PLN, PHP, QAR, RON, RUB, SEK, SGD, TRY, TWD, UAH, UYU, UZS, VND, ZAR. You can still purchase even if your card is issued in another currency, but you might incur an FX / international use charge from your bank.
- Choose the asset and amount of crypto you want to purchase - the fees and total charge will be displayed underneath.
- Adjust the amount of crypto you are interested in purchasing and proceed when you are ready.
Make sure to read the important notes and disclaimers before proceeding. You will be redirected to Simplex.com to input your card details and complete your purchase. Note you are likely to be required to verify your identity during the Simplex checkout process, so make sure you have a valid form of ID ready.
Which countries are not supported?
Poloniex customers will be able to purchase crypto using credit and debit cards through Simplex in any country besides the following countries listed: Afghanistan, American Samoa, Antarctica, Botswana, Bouvet Island, Christmas Island, Crimea, Cuba, Democratic Republic of the Congo, DPR Korea (North Korea), French, Southern and Antarctic Lands, Gaza Strip, Heard and McDonald Islands, Iran, Iraq, Jan Mayen, Lebanon, North Mariana Islands, Pakistan, Palestine, Paracel Islands, United States of America (USA), United States Virgin Islands, West Bank (Palestinian Territory), Western Sahara, South Georgia and the South Sandwich Islands, Spratly Islands, Syria, Sudan.
I don’t see that option on my Poloniex account, why is that?
If you don’t see the option to buy with fiat in top menu, and you are in one of the supported countries above, your account might not be eligible or enabled for this feature. In order to be eligible for using this feature your account must meet the following criteria:
- You must have a Level 1 or Level 2 account (found at www.poloniex.com/profile)
- Your account must be in good standing (not closed or frozen)
If you believe you are eligible for this feature but don't see the option on your account, please contact our support team here and they will be happy to assist.
What cryptocurrency will I be able to buy?
You can buy ATOM, BCH, BNB, BCHSV, BTC, BUSD, DASH, EOS, ETH, LTC, PAX, TRX, USDTTRON/USDTETH, XLM, AAVE, AVA, AXS, CAKE, DAI, DOGE, DOT, FIL, KCS, KLV, LINK, MATIC, MATICPOLY, NXT, QTUM, REVV, RFUEL, SAND, SHIB, SOL, STR (Stella), SUSHI, TUSD, TRU, UNI, USDC, USDCBSC, WBTC, XEM, XTZ, XVS, and XRP at this time. If we add additional crypto options in the future, we will be sure to notify customers.
Are there fees?
Yes, and we would like to be quite clear about it. Simplex charges a 3.5-5% or $10 processing fee per transaction - whichever is greater. Poloniex charges an extra 0.75% on top of Simplex fees.
The 3rd party liquidity provider who supplies the crypto asset to Simplex will apply a spread to the quoted price of the asset you’re buying.
Also note you may incur "international transaction" or "cash advance" fees from your own bank or card issuer in some cases.
Please see Simplex’s Support Article for more information on potential credit card fees. In general, debit cards are recommended to avoid incurring these fees.
Are there limits?
Yes. The minimum purchase amount is $50 (or equivalent). The maximum daily purchase amount is $20,000 (or equivalent). The maximum monthly purchase amount is $50,000 (or equivalent).
How long does the process take?
After determining how much crypto you want to purchase, you will be redirected to Simplex.com for processing your payment. If this is the first time you ever used this service, you will have to verify your ID, so make sure you have a valid ID document handy. While the payments process is quick, it might take from a few minutes to a couple of hours to verify your identity for the first time. Once your purchase is approved, the crypto is procured and sent on-chain to your Poloniex deposit address. You should see your funds in your account after about 30 minutes under normal network conditions.
Where do you get the price from?
The price you see is quoted from one of Simplex’s partner liquidity providers. That price is maintained for a window of time while you decide to purchase - significant variances in price during the purchase process will cause you to reconfirm your purchase or start over.
Why don’t you offer other fiat currencies?
We offer all fiat currencies that Simplex currently supports. As Simplex allows for purchases with other fiat currencies, we will consider adding support for them as well. You can still purchase with cards denominated in other fiat currencies, but you might incur an FX / international use charge.
Can I withdraw my coins and cash out to my card through Simplex?
No, you can only use Simplex to buy crypto and have it deposited into your Poloniex account. Withdrawals to credit/debit cards are not supported at this time.
I have an issue with my transaction.
The card processing is performed by Simplex so they will be the ones to assist you with your issue. You can reach out to them at email@example.com or check out their FAQ here: https://www.simplex.com/support/.