Fiat Deposits
Last updated
Last updated
We're onboarding the next million traders into DeFi. Here’s how you can onramp directly onto RabbitX with just a credit card or bank transfer, in minutes.
RabbitX Fiat Onramp, powered by Transak One, allows users to deposit onto RabbitX with Visa, Mastercard, Sepa, Apple Pay, and Google Pay. You don’t need to have any ETH in your onchain wallet to do so; you go directly from cash to DEX.
Step 1: Click Deposit in the RabbitX UI and input the USDT amount.
Step 2:
Select your payment currency. Once selected, the USDT equivalent amount for that currency will automatically be calculated.
For currency conversions, Transak uses the current market rate without slippage. In our example here, 50 USDT is the equivalent of 66.801 Singapore Dollars (SGD).
You will see the fee for the service added to the amount and the total amount to be deducted from your payment method.
If you wish to change your USDT deposit amount, please close the widget and re-input a new USDT amount in Step 1.
Step 3:
Provide your email and input the verification code. You’ll receive a notification when the deposit is made to RabbitX, and we’ll also send the transaction hash so you can track your on-chain deposit.
Step 4:
Transak supports different levels of KYC and requires it to access the Fiat On-Ramp service. You only need to KYC if you're using the fiat onramp service.
Level 1: You only provide your personal information without uploading a photo ID.
Level 2: Provide photo ID.
The KYC requirements and fees vary based on your payment method and country. You can see full rules and details on different forms of KYC to see which one is appropriate for you by clicking here.
Step 5 (optional, if doing L2 KYC):
Scan your phone to upload a photo ID and a selfie.
You’ll be notified when your information is received and when it’s approved.
It typically only takes 3 minutes for L2 KYC to be approved, but in some cases, it can take up to 24 hours.
Step 6: Add your credit card information.
Step 7: Confirm your wallet address and final amount.
Your wallet is automatically populated from the one you have connected, and you cannot change it manually. If it’s not the wallet you want the funds to be sent to, please exit the form, connect a different wallet and restart from Step 1.
You’ll be able to see the fee breakdown for the transfer.
Your total charges and USDT deposit are shown again to confirm their accuracy.
Step 8:
You can track your deposit on-chain. This shouldn’t take more than 10 minutes, sometimes as little as 1 minute.
You’ll receive an email from Transak on how to track your USDT deposit onchain.
Once completed, you'll get a notification from RabbitX and see your successful deposit on RabbitX under the 'Transfers' tab, and you can start trading!
Important: Users never need to worry about losing money with the RabbitX fiat on-ramp. All transactions are tracked, and if there is any issue, RabbitX will ensure your funds are credited.
