Fiat money, in simple terms, refers to a currency that is considered legal tender by government decree. For example, USD and EUR are both fiat currencies.
A fiat-to-crypto exchange is an exchange where one can buy cryptocurrency with fiat money via a credit card.
On ChangeNOW, this feature is brought to you by our third-party partner services Simplex, Guardarian and Transak. At the moment, we offer exchange from USD, EUR, GBP, CAD, and many other currencies.
These are the requirements of our purchase providers:
- Your card must be issued by VISA or MasterCard;
- For pre-paid cards, make sure to check if it is eligible for crypto-related purchases;
- Wire transfers, American Express, and Discover cards are not accepted.
You can read in more detail about the types of cards our providers accept on their official websites: Simplex, Guardarian and Transak
Before your exchange can start, you will need to pass a series of steps to validate your identity as requested by Simplex, Guardarian or Transak. After your card is verified, you will be able to proceed.
Please note that there is a specific order for conducting all fiat-to-crypto exchanges. First, your funds will be used to buy BTC via Simplex. Then, ChangeNOW will convert BTC to your requested currency.
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