RioWallet integrates Simplex — And here is how to use it😉
Simplex, the leading digital payment infrastructure provider is now available on RioWallet.
With a list of partners that includes Trezor, Binance and Bitpay, Simplex’s integration in the RioDeFi ecosystem constitutes a key milestone on our journey to making cryptocurrencies accessible to everyone.
Using Simplex, users can now purchase crypto directly, from the RioWallet, with their credit or debit cards. In this first iteration Simplex integration supports RFuel, BTC, ETH & USDT.
Check below the complete guide to Simplex.
Purchase crypto with your Debit Card
Before You Start…
Make sure you have at least 0.1 RFuel in your wallet!
Step by step — Explained!
- Go to Buy Crypto
2. Select Simplex
3. On the right hand Deposit section, select the currency matching the cryptocurrency you want to buy — i.e. if you are buying RFUEL, select RFUEL in the currency dropdown
4. Click Request Address. This will generate the wallet address for your purchase
5. Select the currency you want to pay in and enter the amount
6. Select the crypto you want to buy. This MUST match the crypto you selected in Step 3 — note: the amount of crypto is automatically updated
7. Copy the wallet address from Step 4 and paste it into address field. Click Continue
8. You will be taken to the Simplex site to enter your payment details
9. Once approved, Simplex will process the payment
10. Your crypto should appear in your RioWallet after 20 minutes
What is Simplex?
Simplex is the fintech company we have chosen to work with to provide us with a safe, convenient, and fraud-free credit card payment processing solution.
Who can use this service to buy crypto with a credit card?
If you are 18 years old or older and not from a country listed on the FATF high-risk and monitored jurisdictions list, then you are welcome to use this service.
What do I need to do to use this service?
The first time you use the credit card payment service, you will be required to verify your ID with Simplex. Please note, this verification is separate from that required by BitPrime for our other services. This step is completed during the checkout process. For a full guide on how to use this service, see our step-by-step guide.
Which cryptocurrencies and fiat currencies are supported?
Currently, there are 4 cryptocurrencies and 50 fiat currencies supported.
Why do I have to verify with Simplex?
Simplex has their own KYC (Know Your Customer) and legal requirements to meet. To learn more about their verification process, how they store your information, and other verification-related questions, please visit this page.
Is Simplex regulated?
Simplex is licensed as a financial institution in the European Union.
Can I get a refund on my purchase?
Most cryptocurrencies are designed to be irreversible, and as such, once the crypto is sent out, there are no refunds. This is why you need to double-check your wallet address and other details before you submit for purchase.