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Sovryn continues to expand its usability with new fiat onramp. Thanks to a new partnership with Transak, Sovryn users can now purchase crypto directly through the platform via a range of fiat currencies. This great new feature is an easy way to get Sovryn crypto and get ready to take advantage of everything the platform has to offer.
Founded in 2019, Transak enables onboarding of global users from fiat to crypto and back using local payment methods – Sort of like a payment gateway, but for Cryptocurrency.
Transak has a wide coverage with various payment methods for a large number of countries (60+) including bigger countries like Australia, USA, South Africa, India, Japan etc. as well as smaller countries such as Malta, Costa Rica, Latvia, Tanzania and Nepal.
The whole list of countries and currencies supported by Transak and the corresponding fees can be found here.
Getting crypto on to Sovryn has never been easier. All you need is a compatible wallet connected to the Sovryn dApp!
After connecting your wallet, you can use your credit or debit card to purchase rBTC easily through the Sovryn platform. You can achieve this by following these simple steps:
Step 1: Visit the Sovryn dApp.
Step 2: Engage your Web3 wallet after making sure you have selected the RSK mainnet option.
Step 3: Visit the My Wallet tab on the platform and choose FastBTC option alongside the BTC asset count.
Step 4: Now select Get rBTC with Fiat. This will generate a unique Bitcoin deposit address for you, where your purchased BTC will get stored for conversion into rBTC. Please note: never send or deposit anything other than BTC to this address!
From here, the purchased BTC will be pegged through the RSK network to ultimately reach your connected wallet in the form of rBTC. The purchased BTC to rBTC ratio will be pegged at 1:1.
Be sure to verify your transaction amount is within the minimum and maximum limits not only on Sovryn but also with the 0.01 BTC minimum limit of the Transak service.
Step 5: Confirm and approve the transaction on your selected bank card.
To do this, a popup window appears to confirm the following details:
The processing time can take up to 2 days (fiat world is not as fast as crypto!), your purchased rBTC will be deposited into your connected wallet on the RSK Mainnet and will show up on the Sovryn Wallet Interface.