Want to buy cryptocurrencies on Young Platform? The first step is to top up your Wallet. Here are all the available deposit methods!
Want to buy cryptocurrencies but don’t know where to start? The first step is to deposit euros on the Young Platform exchange. Once you have topped up your Young Platform account, you will be able to trade euros for all cryptocurrencies listed on the exchange. However, before topping up, make sure that you have gone through the identity verification process. There are several deposit methods available. To buy cryptocurrencies on Young Platform, you can deposit money via bank transfer, through credit or debit cards, or using a gift card. Choose the deposit method you prefer and start your journey in the world of crypto too!
Where to start?
For all the deposit methods we will go over in this article, the starting point is the same!
From the Home or Wallet section, click on “Deposit”. Once you have selected Euro, you will see all available deposit methods! For cryptocurrency deposits, read this guide.
1. Deposit by bank transfer
The first method we see in this guide on how to deposit at Young Platform, is by bank transfer. Once you have chosen this method, we are assuming you will proceed by SEPA transfer from a foreign (non italian) bank account.
Attention! Before proceeding, you will be asked to enter the amount of money you intend to deposit, at which point a request will be made that must be confirmed. In addition, it is mandatory to enter the reference number for the transfer.
The maximum amount you can deposit by bank transfer depends on your Young Platform account level. The minimum amount you can deposit by bank transfer is 20€. The level of your account is determined by the level of verification of your profile, particularly regarding the origin of the funds you intend to deposit.
Below are the deposit limits per verification level of your account.
- The first level is unlocked by completing identity verification. Single transaction limit: €4,000, annual limit €25,000.
- To access the second level, it is necessary to provide a bank statement, utility bill, or certificate of residence issued by your municipality. Single transaction limit €8,000, annual limit €50,000.
- To join level three, a questionnaire must be completed and a tax return provided. Single transaction limit 30,000€, annual limit 200,000€.
- A recorded interview is required to access the fourth level. Single transaction limit €60,000, annual limit €200,000.
For further information on identity verification levels, please contact [email protected]
Once you have selected the method by which you wish to make the transfer, you will be able to view Young Platform’s bank details.
The account from which you make the deposit must be in your name or co-owned by you and must match exactly the name under which you registered with Young Platform. Ordinary SEPA transfers from foreign (non Italian) accounts should take between 2 and 5 working days.
2. Deposit via debit, credit or prepaid card
To buy cryptocurrencies on Young Platform, you can deposit via debit and credit cards that use the Mastercard and Visa circuits. This deposit process is very simple.
- Select Deposit from the Home or Euro Wallet;
- Choose Euro;
- Choose the credit or debit card option;
- Add a new card or select an already added card;
- Enter the amount, taking care to respect the minimum amount of 20€;
- Continue to view transaction summary;
- Confirm.
Your bank may ask you to authorise the transaction from their app or by SMS
The first time you add a card as a payment method, a small transaction will be processed through which you will be charged a few cents. This is a standard procedure to verify the card; the cents will be credited back to you automatically as soon as the procedure is successful.
Unlike bank transfers, depositing by card is immediate, so you should have received the amount you intended to deposit. Visa and Mastercard fees of 2.2% + € 0.25 apply to this type of deposit. Also for this deposit method, the card you intend to use must be in your name.
3. Deposit with Google Pay or Apple Pay
You can also use Google or Apple Pay to deposit quickly. To do so, you must have enabled Google Pay or Apple Pay on your device and linked at least one payment card
Let’s see how this deposit method works:
- Select Deposit from the Home or Euro Wallet;
- Select Euro;
- Choose Google Pay or Apple Pay;
- Enter an amount, starting from a minimum of 20€;
- Confirm.
Done! Your top up should be immediate.
The commission charged for this type of deposit is the same as for card deposits, i.e. 2.2% + 0.25€.
4. Deposit with Young Cash voucher (if available in your country)
To buy cryptocurrencies on Young Platform, you can also deposit cash through Young Cash (if available in your country) by purchasing a voucher at participating tobacconists, bars and shops.
To deposit to Young Platform with a voucher, simply go to one of the stores that provide them (mostly bars and tobacconists) and buy the one that suits you. Once purchased, you will have to select the “YoungCash” deposit method, and then the “Voucher” section. Enter the alphanumeric code on the receipt and you’re done!
The cash deposit is credited to your Euro Wallet within 15 minutes and transaction fees of 2% are deducted from the amount.
5. Redeem a Gift Card
Gift Cards are gift vouchers from 20€ to 250€ that users can give to their contacts on Young Platform. If you have received a Gift Card, you can redeem it from the Young Platform app or web platform and use the credit to buy cryptocurrencies.
To redeem a Gift Card go to the ‘Profile’ or ‘Wallet’ section, click on the ‘Redeem Gift Card’ button and enter the code you received by email or SMS.
Done! The amount should have been credited to your Euro Wallet.
So, those are all the ways you can make a deposit with Young Platform to buy cryptocurrencies. Once you’ve made your first deposit, all you have to do is choose the crypto that’s right for you!
Everything you want to know about deposit methods: frequently asked questions
1. Why is it necessary to top up my account to buy cryptocurrencies?
The deposit is used to transfer money to your Young Platform account, in order to enable you to buy cryptocurrencies.
2. Do I have to pay a subscription fee to use my account?
Absolutely not! You do not have to pay any subscription fees to use your Young Platform account. You can top up your wallet as often as you like and you are under no obligation to deposit regularly.
How do I know when my deposit has arrived? Check your ‘euro’ balance to verify that the amount you intended to deposit has actually arrived.
3. If there are delays in crediting my money, who can I contact?
Should there be a delay in crediting your funds, first check the timeframe for the deposit method you used. If more time has indeed passed, you can contact support or ask for help on our Discord server. To contact support, fill out a ticket, we will be quick to respond to all your needs!
4. Is it safe to connect my card?
Yes, you do not run any risks by connecting your credit or debit card to Young Platform. Beware though! Some malicious users may create copies of our exchange to try to steal your funds. To avoid running into scams make sure that the website url is always: https://exchange.youngplatform.com/. Want a tip for using Young Platform? Save the above link in your browser favourites or use the app by downloading it from an official store.
5. How many cards can I connect to Young Platform?
You can add a maximum of 5 payment cards per month and 40 cards in total.
6. How do I withdraw my funds?
You can withdraw your funds from Young Platform by bank transfer. Check the dedicated support page.
7. Why are there multiple ‘wallets’ in my account?
On Young Platform, you can deposit both fiat currencies (Euro) and cryptocurrencies. Each account has a dedicated wallet for fiat currencies and a dedicated wallet for each cryptocurrency.
8. Can I remove my card whenever I want?
Yes, you can remove your card at any time! Go to the Profile section of your account from the mobile app or web platform. Then select the ‘Payments’ option and click on the ‘Remove’ card button.
9. How can I pay less deposit fees?
By joining a Club, you can receive cashback on your card deposit fees. Find out how in the dedicated article.
