What is Transak?
Transak is a third party integration that allows you to top-off your USDC, should you not have enough to complete your investment, using Web3 technology. Transak allows investors to purchase USDC via debit cards, credit cards, and bank transfers. It is built into the Web3 funding workflow.
Do I have to go through Transak’s KYC? No, you do not.
Do I have to create a Transak specific account? No, you do not
Does Transak charge a fee? Yes. It will vary depending on the size of the transaction Any fees will be disclosed at the time of the transaction. Please note, if you use a credit card, the credit card company may also charge a cash advance fee.
What currencies does Transak accept? It depends on the specific token that the investor wants to buy. Most often, the currencies accepted are USD and USDC.
What’s the difference between the purpose of Transak and a cash account?
Transak is used for Web3 transactions. Investors will use Transak to fund their personal wallet, and then the funds will move from the wallet to purchasing the token.
Cash accounts are not designed for Web3. For more information on cash accounts, click here.
What is an example of how Transak is used?
An investor wishes to purchase a token via a Web3 offering, but does not have enough currency in their wallet to fully fund the purchase. Transak allows the investor to “top off” their wallet in order to pay for the token, all within the funding workflow.