AAVE has integrated Transak to enable crypto purchases via local payment methods, globally

01 Nov 2022

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Miami, USA, 1 November 2022: Transak, a leading Web3 onboarding infrastructure provider, becomes the only on-ramp integrated by AAVE. The newly added integration enables the AAVE community to deposit more than 130 cryptocurrencies with credit/debit card, Apple Pay, bank transfer, or 23+ other local payment methods supported in 125+ countries. Users pay as low as 1% in fees for bank transfer payments whilegetting high-yield tokens to their wallets.

Aave is a decentralized non-custodial liquidity market protocol that allows users to participate as borrowers or depositors. While depositors can earn by providing liquidity to the market, borrowers can get money perpetually or with one-block liquidity. 

Before this integration, users would have to go through multiple steps before reaching Aave - one of which was purchasing crypto on a separate platform to begin borrowing assets or gaining interest on the tokens. Now, they can simply click on the “Buy Crypto with Fiat”, located under the more section within the AAVE application, and pay through their preferred payment method to get the requested currency to the user’s wallet.

“Transak is excited to extend fiat on-ramp support for one of the leading web3 platforms, which is defining the way to decentralized finance. With Integration, users can directly buy AAVE or any other cryptocurrency from within their AAVE account and start earning, “ said Sami Start, Co-Founder and CEO, Transak. 

He adds, “With Transak's increased focus on emerging markets and local payment methods, onboarding to web3 and making such purchases has never been faster and easier. We look forward to easing the same for millions of AAVE users worldwide.” 

Transak is compatible with all networks deployed on the Aave V3 which makes it an exclusive provider with the same capabilities for the protocol. Such a step comes as Transak’s unwavering commitment to supporting DeFi and dApps in users’ onboarding. By adding an option of making crypto purchases easier and directly from fiat, the company builds on its recent success in SouthEast Asia: in July 2022, Transak enabled local payment methods in Thailand and three months later, became the fiat on-ramp with the most payment methods, easing crypto purchases for the Philippines.

Transak will continue to disrupt the local payment methods area, making Web3 onboarding easier for the community of users and partners.

How to buy crypto on AAVE using Transak?

Step 1: Access AAVE at app.aave.com

Step 2: Click on "More" option, available on the top menu, and find the button to "Buy Crypto with Fiat"

This will direct you to Transak's Buy Crypto Widget

Step 3: Enter the amount you want to purchase

The minimum and maximum amounts of crypto you can purchase may vary from country to country. It also depends on what fiat currency you are using to buy the crypto. Minimums and maximums will be noted at the time of your purchase.

Step 4: Choose the payment method you want to pay with

Choose between Transak’s available payment methods and currencies. Enter the total amount of fiat currency you want to spend on your crypto onramp.

Step 5: Notice the exchange rate and fees

Click “See calculation” and review all fees before moving ahead with your transaction.

Step 6: Click “Buy Now”

Note the processing time to get an expectation as to when you can receive your crypto.

Step 7: Do KYC with Transak, if KYC is already done, proceed to Pay

Now we need to verify you with a simple KYC process. Please follow the step-by-step guide on the screen. Post approval, you can proceed to Pay. If your KYC is already approved, then you will be directed to pay

Step 8: Receive Crypto

Post payment, you will receive the crypto in your addressed wallet directly. In case of any unexpected delays or issues, please feel free to reach out to us at support.transak.com

For any doubts with regards to your Transak experience, please raise a query at support.transak.com

Using Transak, you can buy crypto to any of your wallets directly, just start here.
Building in Web3 and looking to onboard users? Integrate Transak

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About the Author:

Harshit Gangwar

Marketing & Investor Relations Lead at Transak