Investing in Crypto
What does FlashFX do?
We are an international money transfer service specialising in converting AUD to 17 other currencies and vice-versa. Many of the most popular crypto exchanges are outside of Australia, so for many Australians the biggest obstacle to investing in digital coins is the lag time and costs associated with transferring your AUD offshore.
As some cryptocurrency exchanges only accept either USD or EUR for payment, FlashFX can help with converting your AUD to USD or EUR in real time. When you want to bring your money back, we can also ensure the conversion happens at speed and with a competitive rate.Want to Know More About Our Business?
What crypto exchanges do you support?
We support direct transfers to Gatehub and Bitstamp, both of which accept fiat deposits. Gatehub accepts EUR and USD IOU deposits while Bitstamp only accepts USD IOUs.
FlashFX was built to facilitate the secure and efficient transfer of fiat-to-fiat currencies across borders. Because many crypto exchanges only accept deposits in XRP or other altcoins FlashFX’s model can not be applied in the same way to all crypto brokers or trading platforms.
Why should I use FlashFX for my crypto trading?
For Australians who want to fund their crypto currency accounts on either Gatehub or Bitstamp the process of converting AUD to USD or EUR can be extremely costly, not to mention time consuming. Banks typically charge a large margin on foreign exchange conversion rates, in addition to international transfer fees. Processing times can take days. For cryptocurrency investors, time and price are of the essence.
FlashFX can save you time and money by guaranteeing a competitive exchange rate and, most importantly, instant transfers to your crypto account.
How does the transfer process work?
Typically, the process of sending funds to either your Bitstamp or Gatehub account will begin by you depositing AUD into your FlashFX account from your bank account. Once we receive the money it will be converted from AUD to USD or EUR at an exchange rate that you agree to. When the funds are converted, we then fund either your Bitstamp or Gatehub wallet immediately and you will be notified by email or live chat of your transaction.Learn more
How does my money show up so fast?
FlashFX’s services are built on blockchain technology, which allows us to transfer your money in real-time. The specific blockchain infrastructure that FlashFX uses is called Ripple, which is an open payments network within which currencies are transferred.
Can I use FlashFX to transfer USD from one crypto exchange to another?
FlashFX is not set up as a trading platform; we are focused on the conversion to and from AUD. Our model is not designed to facilitate USD to USD transfers and that is something best done on the exchanges.
How do I buy XRP using FlashFX?
Ripple's website lists all of the exchanges where XRP is available for direct purchase. Gatehub and Bitstamp are among the exchanges listed. (Note: FlashFX does not specifically endorse either exchange
To purchase XRP directly on either exchange requires either USD, EUR or other altcoins like Bitcoin (BTC) or Ethereum (ETH). Neither exchange accepts AUD for XRP.
FlashFX can facilitate the fast conversion and transfer of AUD from your bank account to EUR or USD. We then initiate a real-time transfer of those USDs directly to your Bitstamp or Gatehub wallet. From there, you are able to purchase XRP directly
Do your deposits to Gatehub count as SEPA deposits or international wires?
Neither. You may be charged an “in-Ripple fee” when transferring funds to a Ripple address. These are charged by the issuing gateway of the destination currency and are generally 0.2%.
Most exchanges charge users based on how their deposits are delivered to their wallet. If you fund your wallet via a credit card, for example, that will incur a specific charge. “In-Ripple fees” are the same idea. Your money is arriving via the Ripple gateway.