Q1: What is the service for purchase cryptocurrencies with credit and debit card at KuCoin?
KuCoin is now cooperating with Simplex to provide and enable merchants to purchase cryptocurrencies with worldwide debit and credit card. Click the button “Buy Crypto with Credit Card” at Deposit page of your KuCoin Account to know more.
Q2: What is Simplex?
Simplex is a Fin-tech company that provides worldwide fraud-less payment processing. With a proven track record in precarious cryptocurrency environments, Simplex’s technology allows exchanges, brokers, wallets, merchants and marketplaces to conduct business online with complete fraud protection. As an EU licensed financial institution, Simplex has expanded to additional E-Commerce verticals, as well as providing merchants with a host of cutting-edge payment services.
Q3: How much transaction fee will be charged for each purchase?
Simplex will charge 5% of the transaction cost with the minimum amount of 10 USD. You will receive no additional fees from KuCoin through all the payment process.
Q4: What are the daily and monthly transaction limits?
Simplex is licensed as a payment institution in the EU and ensures that the transactions it processes match proper standards. In order to guarantee zero-fraud, our algorithm analyzes each and every transaction.The daily limit is 20,000 USD and the monthly limit is 50,000 USD.
Please note that the daily and monthly limits include the fees.
Q5: What is the supported currency rate for crypto currencies and fiat currencies?
Simplex provides real time fiat currency rate algorithm to enable the price of cryptocurrencies reasonable.
Q6: Which crypto currencies does KuCoin support for credit card payment?
Currently you can purchase Bitcoin, Ethereum, Litecoin on KuCoin. We plan to start supporting other cryptocurrencies in the near future.
Q7: Which fiat currencies does Simplex support?
Simplex accepts U.S. and EUR dollars for credit card payment at present.
Q8: Which credit cards does Simplex support?
Simplex accepts most major credit cards, including VISA and MasterCard.
Q9: Why was my payment declined and what can I do?
A payment can be declined for various reasons – an issuing bank or geographic location that is not supported, risk-related reasons, etc.
Please feel free to contact Simplex customer support and receive advices.
Q10: Why the payment has to redirect to Simplex?
As the payment solution is provided by Simplex, user will be automatically redirected to Simplex after clicking the “Buy” button at KuCoin. Then user is required to go through purchasing procedures, including KYC verification, card issuing bank checking process and billing validation.
Q11: I have already passed KYC verification at KuCoin, why KYC again at Simplex?
Simplex will not store user’s information from KuCoin at anytime. You are required to proceed KYC at Simplex as it is a key factor when doing bank processing and wallet funds transferring. Please note that you will not need to go through KYC again once the verification has passed.
Q12: Where will the purchased cryptocurrencies deposit to?
Cryptocurrencies purchased by credit card will be deposited to the corresponding token or coin wallet at KuCoin.
Q13: How long does the cryptocurrencies transferring process take?
Payments at Simplex are processed immediately.
Cryptocurrencies transferring may take 5-30mins to complete.
Please keep checking your email box for funds arrival notification.
Q14: How can I contact support if I have questions to the purchase?
You can contact Simplex support in two ways:
Live chat through the bottom right side of Simplex’s homepage
Submit a ticket through firstname.lastname@example.org
Q15:How can I receive notification from Simplex?
You will be notified by email from Simplex through all purchasing processes, including but not limited to funds arrival, pass of KYC verification, payment successful, etc. Please ensure your email box is valid at all times.
Q16: How can I check the status of my transaction?
You can easily check the status of your transaction on Simplex Payment Status page.
To check the status of your transaction:
- Click the “My Payment Status” button (on the top right of the main menu or from the support center page)
- Insert your Simplex payment ID (this is is the long string of letters and numbers we sent you in the confirmation email)
- Click “Go”
You will then be able to see the status of your payment.
If you run into any issue while checking the status of your transaction, or if you have any questions concerning the status message, please contact our support team in two ways:
Q17: At KuCoin, how could I distinguish token and coin deposit history made by credit card?
There is no way to decompose the deposit history at present, you may either check from your KuCoin account or through blockchain browser.
Q18: Why the original funds for purchasing are different with the actual payment
Simplex will charge you certain amount of transaction cost for each purchase which is included to the actual payment.You will receive no additional fees from KuCoin through all the payment process.
Q19: Why the actual arrival amount of cryptocurrencies is different with the order amount.
Due to market price fluctuation, Simplex shall matching your order by complying the best currency rate from -2.5% to +2.5%. Therefore, It is normal that the actual amount of received cryptocurrencies is different with the original order amount.
Please note that if the matching price is exceeding the maximum currency rate, Simplex will cancel the rest of unmatched orders.
Please feel free to contact Simplex customer support for help.