In the previous part of this series, we have explained the different types of accounts, user levels, and various features supported by the PlasmaPay platform. In this article, we will explain how you can add and withdraw money to your account using different payment methods supported by the service providers.
The PlasmaPay platform supports numerous payment methods including E-wallets, online merchants, crypto exchanges, and many more.
Table of Contents
Add Funds To Your Account
For adding tokens, users need to first set up a wallet. Each wallet setup requires you to provide a wallet password, and a keycard file will get downloaded which contains the activation code that is needed for wallet activation.
Here are the different methods using which you can buy digital assets:
Buy Bitcoin With Debit/Credit Visa/MasterCard or Digital Cash
Users are required to activate the Bitcoin wallet before buying Bitcoin. Kindly note that buying tokens using your card or bank account requires the users to undergo an identity verification process (KYC – know-your-customer) as per the PlasmaPay policy.
As we have mentioned earlier, each level requires you to pass through an identity verification process. Also using any particular application requires the users to belong to a certain level.
After wallet activation, the following application is unlocked.
We will explore more, using Simplex as our example.
Simplex
To use Simplex, click on it.
Set the currency first and then enter the BTC amount you wish to purchase. The platform will show you the amount of BTC tokens you will get with this amount.
Click on Continue. A page will appear that will ask you to provide your Visa/Mastercard details. After that, the user is required to fill in their personal and billing details and need to verify their email and phone number.
Users need to verify their identity by providing any government-authorized proof of identity document and will have to go through a verification process before actually buying the token.
Buy Stable Currencies USDp, EURp, RUBp, and 39 More
We have active the stable currency wallet, and the following services get unlocked after that.
Bank, Card, E-wallet
Click on it, and the below page will appear.
Important: This site was blocked by the browser. Use at your own risk.
AdvCash
To use the application, click on it.
Enter the token amount you wish to purchase. However, the application requires the users to complete their KYC verification before using AdvCash.
Buy Tether (USDT / ERC-20), Ethereum, USDC
Buying USDT/USDC/Ethereum or any ERC-20 tokens requires you to first pass the KYC verification before using these below service providers or applications.
Buy Bitcoin and Another Crypto With External Services
BestChange
To use the BestChange service, click on it. It will redirect you to the page.
Important: This site was blocked by the browser. Use at your own risk.
LocalBitcoins
Click on LocalBitcoins, It will redirect you to their homepage.
The platform allows you to filter based on the amount, location, and payment methods.
We tried choosing CryptoSecureSolutions.
Enter the amount of money you wish to spend.
Users are required to register with LocalBitcoins by giving some personal details like name, phone number, email, etc. Once the user has set up and verified their profile, they can proceed to buy/sell the tokens with the selected dealer.
Paxful
The platform supports multiple languages. It allows you to buy/sell Bitcoin and USDT
To use Paxful, click on it and it will redirect you to the page.
The platform offers you numerous payment methods (more than 350) which users can use to buy the tokens.
Once you have filled in the details and click on Find Offers, it will list the buyer details that satisfy your requirement. Few things to note here is that:
- It is a P2P transfer.
- Necessary document required for the process.
- Buying limit.
- And the most important: the price quoted by the seller. Each seller has mentioned the price at which they are willing to sell; their token may be higher than the usual price. So that means you will get fewer tokens than expected.
See the amount of USDT token you will receive if you are giving 1000 USD. You need to register with Paxful if you are satisfied with the deal or simply want to use the platform.
Withdraw
You can withdraw the tokens that you have in your Plasma wallet to your bank account, card, or e-wallet by using external P2P exchange services.
Note that Plasma Finance is not responsible for the operation of P2P exchange services.
You can use the below service provider to withdraw your tokens.
Paxful offers the below options through which you can withdraw.
Enter the token that you want to sell, the preferred payment receiving method, currency, and the selling amount.
You can check the available options by clicking on the Search for offers and filter by location.
Like buying a token, there are few things here that you need to look into:
- Selling limit.
- Selling price quoted by the seller.
- Any promotional offers.
- Seller rating and feedback.
Social Presence
Conclusion
The PlasmaPay project focuses on the democratization of finance by creating a financial services infrastructure for the global digital DeFi economy. It aims to bridge the gap between the users and digital currency by providing a common platform which users can buy/sell tokens anywhere and at any time. The platform integrates more than 170+ payment methods, including banking services, gift cards, online wallets, and many more. Moreover, the license in Europe (Estonia) proves its legitimacy to be a trusted global financial service provider among its users.
Resources: PlasmaPay website
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