We’ve got more great news for you! Apart from BTC, ETH and Tether (USDT), you can now easily buy Binance Coin (BUSD), Paxos Standard Token (PAX), Celsius (CEL), and Dai by Maker with your credit card too. And the best part is that if your purchase is under $150, you don’t need to provide an ID or pass any KYC procedures.
How to Buy Stablecoins in Lumi
The main goal of Lumi Wallet is to make your daily work with crypto easier. Due to popular demand, we’ve added the option to buy a few of the most popular stablecoins with a credit or debit card. It doesn’t get any easier than that!
If you’re new to crypto and planning on buying a few stablecoins as a safe haven, here’s some short instructions on how to do so in Lumi.
Step 1: Create Your Wallet
Download Lumi and follow a few simple steps to create a new wallet or import an existing one. No private info required.
Step 2 (important!): Save Your Seed Phrase
A mnemonic, or seed phrase, is the 12-word passphrase that protects your wallet. Whoever has access to it gets access to your funds too, so make sure to keep it safe. Do not store it on your phone and never share it with anyone.
In order to save your mnemonic, go to General Settings and tap on “Backup wallet”. Write down your 12-word mnemonic phrase on a piece of paper or better yet, make a few more copies and store them separately.
Step 3: Add Your Coin Wallet
Before you can buy your brand new stablecoin, you need to add a new wallet. Go to the Wallets menu, tap on the Manage wallets icon, choose ETH tokens, and type in the name of the coin in the search bar. Tick one or several wallets that you need and add them to your portfolio.
Step 4: Start Buying
Once your coin wallet is ready, you can click on the Buy icon and choose your coin from the list. Also, you are free to choose what fiat currency you want to buy, which might cut the costs. Enter the amount in fiat or the number of coins you wish to buy. You can see the commission fee below.
Step 5: Add Your Credit Card
Enter your standard credit card information, billing address, email, and phone number. You can choose to save your card for future purchases. Then tap on Pay now.
Step 6: Pass the Quick KYC
If you buy less than $150 worth of crypto you can skip this step as you don’t need to provide any ID to finalize the deal. Otherwise, you need to pass a simple KYC procedure: upload a photo of your ID, fill in the personal details, add a billing address, and finally, confirm the transaction by clicking on the ‘Upload Document’ button.
And that’s about it. Now you just have to wait until your transaction is approved. If you have any questions or issues, you can always get in touch with us via email [email protected].