Depositing mainstream currency into your NETELLER account from an external cryptocurrency wallet is made possible through BitPay. This service currently supports payments in Bitcoin (BTC) via the Bitcoin mainnet, as well as Ethereum (ETH), Tether (USDT), and USD Coin (USDC) exclusively on the Ethereum mainnet (ERC-20 network). Please note that Tether (USDT) is not available for use within the European Economic Area (EEA). Stay tuned for future updates and additional supported assets.
Step-by-Step Guide to Depositing with BitPay
Follow these clear instructions to successfully deposit funds using BitPay.
- Navigate to the "Deposits" section within your NETELLER account and select the "Crypto Wallet" option via BitPay.
- Choose your desired fiat currency for the deposit and enter the amount you wish to transfer.
- Carefully review the transaction summary provided by NETELLER and confirm the details to proceed.
- You will be automatically redirected to the official BitPay website. You will have a 15-minute window to complete your payment.
- Log in to your existing BitPay account or create a new one if you don't have an account yet.
- Select the third-party cryptocurrency wallet you will use for the deposit and choose which cryptocurrency you want to transfer.
- Review the final transaction summary on the BitPay platform to ensure all details are correct.
- To complete the transfer, scan the displayed QR code using your chosen cryptocurrency wallet's application. You may also manually copy and paste the provided wallet address. Crucial Reminder: Blockchain transactions are irreversible. Any error in the address entry cannot be rectified by NETELLER or BitPay.
- After initiating the transfer, you will see a "View on blockchain" option on BitPay, allowing you to track the processing status of your transaction.
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Important Considerations Before You Deposit
Before initiating a deposit, please be aware of the following critical requirements and restrictions.
- Your NETELLER account must be fully verified to use the BitPay deposit option.
- You must have a registered and verified BitPay account.
- Deposits can only be made in mainstream fiat currencies (EUR, USD, etc.) from an external crypto wallet into NETELLER.
- Funds deposited via BitPay cannot be used for payments to forex or betting merchants. Depending on your country of residence, these funds may also be unavailable for bank account withdrawals.
- The cryptocurrency wallet addresses provided by BitPay are unique to each transaction. You must always start the deposit process from within your NETELLER account, follow the on-screen instructions precisely, and use the correct, unique wallet address displayed for that specific payment. Deposits sent to an address not associated with an active BitPay invoice cannot be recovered.
Frequently Asked Questions
How long does it take to receive a BitPay deposit?
The time it takes for the money to arrive in your NETELLER account balance can range from a few minutes to up to one hour. The processing time for BitPay deposits depends on how quickly your transaction gathers the required number of block confirmations on the respective blockchain network.
What are the limits and fees for BitPay deposits?
Your current transaction limits, based on your account status and the selected transaction type, will be displayed when you initiate a deposit. All applicable NETELLER fees will be clearly visible on the transaction summary screen. Additionally, a network fee (gas fee) may be applied. This fee is paid to cryptocurrency miners or validators for verifying transactions and maintaining network security and is outside of NETELLER's control. It is added to the total amount of cryptocurrency you need to send for your deposit.
Where can I view my transaction history?
You can review all your payments in the "Transactions" section of your NETELLER account. For more detailed information on your specific BitPay transfers, you can check the Dashboard within your BitPay account.
Which cryptocurrencies does BitPay support for NETELLER deposits?
BitPay currently accepts Bitcoin (BTC) on the Bitcoin mainnet and Ethereum (ETH), Tether (USDT), and USD Coin (USDC) on the Ethereum ERC-20 network. Note that Tether (USDT) is not available for users in the EEA.
What should I do if I send funds to the wrong address?
Unfortunately, transactions on the blockchain are irreversible. If you send funds to an incorrect wallet address that is not associated with your BitPay invoice, it is highly unlikely that the funds can be recovered. Always double-check the address before confirming the transaction.
Why can't I use my deposited funds for all services?
Due to regulatory and policy reasons, funds deposited via BitPay may have restrictions. They typically cannot be used for payments to certain merchant categories like forex or betting. Availability for bank withdrawals may also vary depending on your country.
Disclaimer: Cryptocurrencies are a decentralized product and are not subject to the same financial or consumer protection laws as traditional currencies. Capital gains or other taxes may apply. Prices are highly volatile; only risk what you can afford to lose.