BitPay Integrates Transak, enabling its Users to Purchase Crypto Up to $75K in a Single Transaction
Miami, Florida, March 12th, 2024, Chainwire
In a partnership between Transak, a leading web3 payments and onboarding solutions provider, and BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, millions of users across the world now have access to a high purchase ceiling on their crypto buys. BitPay users can buy large amounts of more than 175 supported digital assets at some of the industry’s most competitive prices.
Cryptocurrency investors often face restrictions in the amount of crypto they can purchase in a single transaction. This limitation can be a significant deterrent to purchase crypto owing to a poor experience and the inability to capitalize on favorable market conditions given the crypto market’s inherent volatility.
Transak offers BitPay Wallet users the widest range ever on the platform from mere $5 per transaction to $75,000 worth of cryptocurrency per transaction (for EU and UK). Those in the United States can quickly purchase crypto worth as much as $6,000 in a single check out flow.
By integrating Transak as an on-ramp, BitPay users get a wide array of options at their fingertips — from cryptocurrency rates to payment methods. Transak’s on-ramp offers over 175 cryptocurrencies that can be bought using more than 20 local payment methods like GrabPay, GCash, and others across 160 countries in addition to global payment methods like credit cards, debit cards, and Apple Pay.
Transak abstracts away a lot of the tedious KYC and verification processes by bucketing them into three levels in an industry-first feature called Multi-level KYC. Lite KYC, the lowest level which does not require any documentation, will allow users of select regions to purchase cryptocurrencies (smaller values) in less than 30 seconds. Users who have completed the Enhanced KYC process can purchase coins and tokens worth over $75,000 per transaction.
When BitPay users purchase crypto through Transak, funds will be delivered in near-real time to their self-custody wallet, ensuring they remain in full control of their assets at all times.
To acquire crypto with BitPay and Transak, users can follow the steps outlined below:
- Visit BitPay’s online crypto marketplace or download the BitPay Wallet.
- Select the amount of cryptocurrency you want to buy and choose from over 175 supported cryptocurrencies.
- Enter the wallet address where you’d like to receive the funds (if on web).
- Select the Transak offer.
- Choose your preferred payment method from credit/debit cards, Apple Pay, Google Pay, or local bank transfer (options vary by location).
Transak’s onboarding solution stands out as the industry’s most compliant on-ramp, with its payment platform recently becoming System and Organization Controls (SOC) 2 Type 2 compliant, just weeks after securing ISO/IEC 27001:2022 certification. These certifications represent the gold standard for information security management systems, signifying that its platform meets the highest level of compliance for risk management and data handling, adhering to the same rigorous standards as traditional financial services solutions.
With 256-bit SSL encryption, state-of-the-art identity verification and a host of other high-level security features into its platform, Transak streamlines an unparalleled crypto buying experience that’s fully compliant with global standards, meeting the needs of Bitcoin whales, institutional and retail investors, cryptocurrency traders and more.
About Transak
Transak is a global web3 payment and onboarding infrastructure provider, facilitating seamless transitions between traditional finance and crypto assets. Web3 platforms using Transak can embed the best way to onboard users by enabling them to buy or sell crypto assets from 160+ countries, as Transak abstracts away the complexity of user KYC, risk monitoring, compliance, payment methods and customer support.
Transak’s product suite includes robust fiat-to-crypto services (On/Off-Ramps), a fiat-to-smart-contract solution (Transak One), and a fiat-to-NFT checkout solution. As a regulated, non-custodial payments layer, Transak supports onboarding to 170+ crypto assets across 75+ blockchains. Trusted by over 350+ applications, including MetaMask and Coinbase Wallet, Transak is making web3 applications more accessible.
For more information, visit https://transak.com/ or follow us on https://twitter.com/Transak.
About BitPay
Founded in 2011, BitPay is one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company’s mission is to transform how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses.
The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth.
For more information visit https://bitpay.com.