If you’ve tried to buy crypto through Best Wallet but your transaction keeps failing, there could be several reasons.
To help you navigate and resolve these issues, we've broken down the common causes that might prevent you from purchasing crypto in Best Wallet.
Your bank rejects the purchase
There are several reasons why your bank might reject your crypto purchase:
External reasons
Regulatory Concerns & Fraud Prevention: Some countries and banks are very cautious about cryptocurrency and may even freeze bank accounts that buy cryptocurrencies due to internal policies or regulatory guidelines. You can check your country's crypto policies online.
Bank's Crypto Policies: Even in crypto-friendly countries, certain banks may have specific restrictions or complete prohibitions against crypto transactions. You can check your bank’s crypto policies via their website.
User errors
Incorrect Card Details: Double-check you’ve entered your debit/credit card details correctly.
Failed Verification Attempts: Many crypto purchase providers will ask you to complete some sort of Know-Your-Customer (KYC) verification. Make sure you are entering your details and completing the checks properly.
Mismatched Addresses: Make sure the address you filled out during your KYC and your bank account's billing address match.
Suspicious Activity: Some cards might see crypto purchases as suspicious and may require additional confirmation/information in your online banking app.
Daily Card Limit: You may have exceeded your card's daily transaction limit.
What you can do:
Verify your bank's stance on cryptocurrency transactions.
Ensure all card information is accurate and up-to-date.
Contact your bank if you suspect a transaction was wrongly flagged as suspicious.
Keep an eye on your card's transaction limits to avoid exceeding them.
Location limitations and restrictions
Best Wallet utilises Onramper, the #1 aggregator for bank-to-crypto providers. This means that Onramper will provide you with a list of providers for your crypto purchase, and you can select the most convenient one.
Onramper will only show you the providers available in your location, therefore minimising any errors with geographical restrictions. However, issues may unexpectedly arise as crypto legislation evolves and changes.
How to check
Visit Onramper or the specific provider’s website to confirm if your location is supported.
Check your country's national policy on buying cryptocurrency. Although rare, some governments have outright banned the purchase and trading of cryptocurrencies.
The next steps if a transaction fails
Patience is Key: If the transaction is successful but your balance hasn't been updated, it might take a few hours or even days before you receive your new crypto. This is completely normal and industry-standard; the average crypto purchase takes at least an hour before it arrives in your wallet.
Contact Onramper/Provider Support: Onramper can offer specific advice and solutions for your situation here, and if not, contact the selected provider's support team.
To avoid any of these errors, check our guide on how to successfully buy crypto in Best Wallet.
If you have gone through these steps and your cryptocurrency purchase is still failing, please email [email protected] and the support team will aid you in troubleshooting and resolving your issue.