While the emergence of cryptocurrencies kicked off a promising future for finance, only a select few fintech platforms, including Transak, have truly embraced and harnessed the full potential of cryptocurrency in the present.
With your best interests at heart, our team of experts at CanadaCasinoBitcoin has thoroughly evaluated and certified Transak as a reliable platform for crypto purchases. In this article, we will guide you through your first crypto purchase using Transak, ensuring a seamless experience as you enjoy your favorite crypto game titles. Join us as we explore this top-tier Crypto marketplace together.
What is Transak?
Established in 2018, Transak is a developer integration toolkit that has completely revolutionized the idea of service payments by allowing developers to provide their audience with a seamless crypto payment gateway. In just 5 years of operation, Transak has partnered with over 800 platforms, operates in 150+ countries, and supports 160+ cryptocurrencies. Setting itself apart from competitors like MoonPay, which only enables cryptocurrency purchases, Transak goes beyond by offering a KYC sharing feature for easy onboarding on all compatible platforms.
Completing Your First Crypto Purchase via Transak
During our review of Transak, our major challenge happened to be locating the sign-up modal. Since the platform was designed specifically for developers to integrate a payment gateway on their applications, purchasing cryptocurrency as a user might be a little tricky. However, our team of experts have compiled this first-hand review of the platform to ease you into the onboarding process and funding your crypto gambling portfolio seamlessly. Take the first step to completing your first crypto purchase via Transak with the following steps.
- Visit Transak’s official website and click on the Buy/Sell Crypto button at the top right corner
- Provide your purchase details, choose your fiat payment option, and click on “Buy Now”
- Provide your personal third-party Wallet address on the next page. We recommend using Binance, ZenGo, or Trust wallet as your personal electronic crypto wallet.
- Provide your email address on the next page and click on “Continue.” A verification code will be sent to the provided email address upon clicking continue.
- Provide the verification code on the next page when prompted, agree to Transak terms and conditions and click on continue.
- Players will be redirected to a verification page to complete Transak’s KYC verification. The details needed to complete this verification include; Full name, mobile number, address, state, zip code, country, means of identification, and selfie verification.
- Once the verification is done, players can proceed to choose their preferred local payment option to complete the crypto purchase and the transaction will be completed as soon as payment is confirmed.
Funding Your Crypto Gambling Account
While users have the option to provide their crypto gambling portfolio’s wallet address during the purchase, thereby eliminating the need for a separate third-party crypto wallet, it is also possible to fund their crypto gambling accounts by transferring cryptocurrency from the wallet where it was received. This process involves sending the cryptocurrency directly from the wallet to the crypto gambling account. Here’s how you can fund your crypto gambling wallet using a third-party crypto wallet.
- Head over to your casino’s deposit page and select your preferred crypto deposit option.
- Selecting a crypto deposit option will generate a unique wallet address. Copy this address.
- After generating and copying the wallet address, go to your personal crypto wallet and click on the ‘send’ option. Make sure to select the correct cryptocurrency and avoid sending the wrong one.
- Paste the casino’s generated wallet address into the recipient field and click on ‘send.’
- Your assets will be deposited into your crypto gambling account as soon as all network confirmations are completed.
Pros and Cons of Purchasing Crypto Via Transak
- Accessibility
- Impressive range of supported cryptocurrencies
- Wide variety of fiat payment options Transak operates within regulatory frameworks and complies with relevant Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
- Higher fees
- Dependency on third-party services
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Our Verdict
In conclusion, although Transak primarily caters to developers seeking to integrate crypto payment gateways, the platform has gained popularity among crypto enthusiasts due to the benefits it offers for purchasing cryptocurrencies. With its user-friendly interface and wide range of supported cryptocurrencies, Transak provides a seamless experience for buying crypto assets. While its emphasis on developers may initially pose challenges for individual users, our guide simplifies the process, ensuring a smooth onboarding experience. Transak’s commitment to regulatory compliance, including KYC and AML requirements, enhances security and trustworthiness.
Additionally, Transak’s popularity is further boosted by the perks it provides, making it an appealing choice for crypto enthusiasts. Whether you are a developer or an individual user, Transak serves as a reliable platform for purchasing cryptocurrencies to fund your crypto gambling accounts or for point-of-service payments.
FAQs
Yes, Transak is a reliable platform that allows you to purchase cryptocurrencies to fund your crypto gambling accounts or for point-of-service payments.
Yes, Transak charges fees for its services. However, the exact fee structure may vary, so it’s recommended to check Transak’s website or terms for more information on the fees involved.
Yes, Transak operates within regulatory frameworks and requires users to complete a KYC verification process. This verification helps ensure compliance with relevant regulations and enhances security on the platform.
