FAQ on AscendEX's Credit/Debit Card Service
Publish on 2022-03-25
Please refer to the FAQs on AscendEX’s Credit/Debit Card Service if you have any problem.
1. What Is the Credit/Debit Card Service?
The Credit/Debit Card service is a new fiat on-ramp gateway introduced by AscendEX, allowing users to purchase cryptocurrencies directly with a credit or debit card, such as Visa and Mastercard.
2. What Credit/Debit Cards Can I Use for Payment?
AscendEX’s Credit/Debit Card Service enables users to utilize Visa, Mastercard and debit cards to make payments.
3. What Cryptocurrencies Are Available to Buy Using the Service?
47 cryptocurrencies are available for purchase via the service on AscendEX, including USDT, BTC, ETH, ATOM, BCH, TRX, 1INCH, ADA, ALGO, BAT, BSV, BNB, CKB, CRO, CRV, DASH, DOT, ELF, EOS, ETC, FET, FIL, HT, IOST, LINK, LTC, NEO, ONG, ONT, USDP, QTUM, RVN, UNI, USDC, VET, XEC, XEM, XLM, XRP, XTZ, ZEC, ZIL, ZRX, SOL, SUSHI, DOGE, SHIB. The service will expand its coverage to include more cryptocurrencies in the future. Users can click on Buy Crypto -Credit/Debit Card on the homepage of AscendEX’s website to check the fiat currencies supported for trading.
4. What Fiat Currencies Are Supported to Exchange for Crypto Using the Service?
Over 6 fiat currencies are supported to exchange for crypto via the service on AscendEX, including USD, EUR, GBP, JPY, CHF, AUD, CAD, INR, TWD, KRW, SGD, TRY, HKD, AED, RUB, BRL, ARS, AZN, BGN, CLP, COP, CRC, CZK, DKK, DOP, EGP, GEL, GHS, HRK, HUF, IDR, ILS, JOD, KES, KWD, KZT, LKR, MYR, MXN, MDL, NAD, NGN, NOK, NZD, OMR, PEN, PKR, UYU, PHP, PLN, QAR, RON, SAR, SEK, THB, TZS, UAH, UGX, UZS, VND, ZAR. Users can click on Buy Crypto -Credit/Debit Card on the homepage of AscendEX’s website to check the fiat currencies supported for trading.
5. Any Limits on the Use of the Service?
Yes. Users need to have a verified account to be eligible to use the service.
6. Are there Services Available to Sub-accounts?
No. Sub-accounts cannot be used as an independent account to purchase via a credit/debit card.
7. Any Fees Involved in Using the Service?
Yes. 2% gateway/processing fees will be charged by banks and institutions for all purchases. Please be aware of the specific fees on the trading page while trading.
8. Any Purchase Limits Using Credit/Debit Cards?
The daily upper and lower limits allowed for each user are 5,000 USD and 30 USD, respectively. Users are not allowed to purchase more if they reach the upper payment limit.
9. Are Non-Native Fiat Currencies Allowed to Buy Crypto Using the Service?
Yes. Only if the non-native fiat currencies you hold are supported by the service. In other words, if the non-native fiat currencies are on the list of fiat currencies AscendEX supports for exchange using a credit or debit card, you can utilize them to pay for crypto.
10. Any Credit/Debit Card Binding Limits for the Service?
Yes. Each user is only allowed to add up to five cards for the service.
11. Can the Credit/Debit Card Associated with the Account Be Removed?
Yes. Users who utilize the Credit/Debit Card service can view, manage, add or remove the card already linked to their accounts.
12. How Long Does It Take for Buyers to Receive their Crypto Purchased Using a credit or debit card?
Regardless of factors such as a trade delay due to network problems, if the purchase using a credit or debit card is successful, it usually takes 1-2 minutes for the buyer to receive their crypto. If the crypto failed to be credited, please contact Customer Support to check the purchase process.
13. How to Check the Crypto Purchase History?
Please click on Buy Crypto -Credit/Debit Card on the homepage of AscendEX’s website or click on Orders – Buy Orders to check your crypto purchase history.
14. Can Crypto Be Converted to and Withdrawn as Fiat Currencies Using the Service?
No. The service only supports fiat on-ramps, namely purchase of crypto using fiat currencies, rather than conversion and withdrawal of crypto as fiat currencies.
15. What Is a Trading Failure?
In the course of a trade, many factors could lead to a trading failure, including the common factors such as 1. payment failure due to incorrect passwords, 2. Exceeding the trade limits of the card. If users encounter trading failures, please self-check further or contract Customer Support to find the causes.
In practice, users could face a trading failure under one of the circumstances such as placing continuous orders within a minute, placing a new order when there is an order waiting to be paid and exceeding the daily trade limits of the account. Users should be aware of the system reminder accordingly.
16. How Come a User Account is Disabled?
Disabling a user account is a result of risks control over the user account suspected of abnormal trading activity. User accounts will be disabled for six hours after two consecutive trading failures, and will permanently be disabled after five trading failures in a row. (Please note: the failures will be erased once the trade is completed, without any effect on following trades.)
17. Any Differences between Using a Credit/Debit Card and Leveraging a Third Party?
Users can purchase crypto assets using a credit/debit card or leveraging a third party, both of which serve as a fiat on-ramp gateway. They only differ in the operation process. Using a credit/debit card, users do not need to jump to the platform of the third-party payment provider for the payment, and they can complete all the purchase process on AscendEX once directly binding their cards to their accounts. With the Credit/Debit service, users can buy crypto in a faster speed by skipping the actions required by the third-party payment method.