instacoins logo

Frequently Asked Questions

Instacoins is one of the easiest and most trusted places to buy Bitcoin securely.


question iconWhere can I view my past purchases?question icon

Clicking on Your Account will give you a complete list of all your successful transactions with Instacoins. Alternatively, click on Transaction History to view a complete list of your past activities.

question iconCan I sell Bitcoin on Instacoins?question icon

At this time, Instacoins can only be used to buy Bitcoin, store it and transfer it to a valid Bitcoin address of your choice.

question iconWhat are the rates for buying Bitcoin from Instacoins?question icon

As there is no central exchange controlling the rate, each website that you visit will have its own Bitcoin rate. Our exchange rate will always be displayed prior to completing your card purchase. We will always show the price in your selected currency equivalent for 1 Bitcoin.

For bank wires however, please note that we will charge you the prevailing rate when the funds hit our bank account and the money is matched to your account.

question iconHow can I buy Bitcoin? question icon

Instacoins offers multiple payment methods for the purchase of Bitcoin, namely:

  • Cards from Visa, Mastercard or Maestro
  • Revolut or Wise
  • Bank Transfer
  • Skrill or Neteller

Depending on your chosen payment method, you will be redirected to a secure payment page or to our latest banking instructions.

Some methods may not be available in your country or in your default currency. Speak to our support team if you are having issues setting up a transaction.

question iconAre other virtual currencies available for purchase? question icon

At this time, Bitcoin is the only cryptocurrency that we offer.

question iconDoes Instacoins offer a Bitcoin wallet? question icon

No, Instacoins is not a wallet service. However, we will act as a custodian for your coins until you are ready to transfer them to an address of your choice.

question iconCan you reverse or refund my transaction?question icon

If you’ve been billed and your Bitcoin balance has not changed please get in touch with our team. We will investigate and rectify your balance or issue a refund within 72 hours if due.

We will allow a transaction to be refunded under limited circumstances. Please visit for more information.

question iconI've paid - where's my Bitcoin?question icon

Any Bitcoin you purchase will be stored on your Instacoins account. You should see your balance near the top of the left-hand side bar, or click on Your Account from the menu bar for more details. Available Balance is your Balance less any withdrawals which are in process or pending authorisation.

question iconHow do I know that the purchase was successful? question icon

Your Bitcoin Balance will increase with the amount of Bitcoin you just bought. Alternatively, look in your Transaction History or Your Account menu and check that the transaction is marked as “Finished”.

When paying with cards, Revolut, Wise, Skrill or Neteller your balance will usually increase instantly. For wire payments, your balance will increase when your wire hits our bank account and we match the money to your account.

You will also receive an email confirming your purchase.

question iconWhy do I see a charge on my account, but have not received the coins? question icon

Your bank or card company has likely placed a pre-authorization on your account for the purchase amount but has not cleared the payment. A pre-authorization simply saves the transaction for future approval (or decline).

This can happen if you started a transaction on Instacoins but never finished it. In this case, starting and finishing a new transaction will usually resolve this.

In any case, any pending pre-authorization will be automatically declined after 3 working days. Speak with your bank or card company if this takes longer or if you have questions.

question iconWhich currencies do you accept? question icon

For cards and bank transfers, we accept EUR, USD, GBP, AUD, CAD, CHF, CZK, NOK and ZAR!

You can choose your billing currency for every transaction. If your local currency is not on the above list, please note your bank might charge you a foreign exchange fee.

For Revolut and Wise we currently only accept EUR. However, you can convert your currency into EUR directly on the Revolut and Wise apps. See our tutorials on how to do that here (relevant links with correct url to go here).

Skrill/Neteller payments will be billed in EUR. If you pay in any other currency using your Skrill account you might be charged a foreign exchange fee by Skrill. We will support other currencies in the near future.

question iconHow does Bitcoin work?question icon

You can purchase Bitcoin at an exchange such as Instacoins by creating a free account and using our service to buy the amount of Bitcoin that you wish to buy.

The simplest way to store and use your Bitcoin is by keeping them in an online digital wallet. However, you can also send them to an external or offline wallet. From your wallet, Bitcoin can be sent to friends or family and/or to make payments to retailers who accept Bitcoin.

Bitcoin transactions differ from credit or debit card purchases. When using Bitcoin, you don’t need to provide a card number, expiration date, name or CVV code.

question iconDoes Instacoins conduct trades between buyers and sellers? question icon

No. Each transaction will be directly between you and Instacoins.

question iconDo you charge an inactivity fee?question icon

If your account has been inactive for a while, we might charge you a custody fee. Here’s how it works:

  • if you haven’t made a successful deposit or a successful transfer during a calendar month and
  • you have a positive cryptocurrency balance Instacoins will charge a fee of BTC 0.00025 to your account. If you have less than BTC 0.00025 on your account and you satisfy both of the conditions above, your cryptocurrency balance will be set to zero.

You will not be charged any fee if you any of the following are true:

  • you make a successful deposit during a calendar month
  • you make a successful transfer during a calendar month
  • you have a zero cryptocurrency balance


question iconIs Instacoins regulated?question icon

Yes! Instacoins Europe EOOD is registered in Bulgaria and is licensed by the Bulgarian National Revenue Agency to carry out services for the exchange of virtual currencies under license number BB-48.

question iconDo you store my bank, app, account, credit or debit card details when I make a purchase? question icon

We do not store any sensitive data at all within our systems or elsewhere besides the data we need to process your transaction.

question iconWhat steps do you take to secure my data?question icon

We do not store sensitive payment details anywhere on our site or servers. As for your personal details and documents, those are encrypted.

question iconCan I change my password? question icon

Of course – click on Password and Security from the menu to access the password area. There, you will need to enter your old password and then the new password of your choosing. Your password has to include a minimum of 8 characters and at least one upper case letter, one number and one special case letter. Please enable 2FA to secure your account.

Alternatively, you can click on Forgot Password from the login screen.

question iconDo you have two-factor authentication (2FA)? question icon

Yes we do – click on Password and Security from the menu and then click on Enable 2FA. We highly encourage you to enable 2FA for added security.

question iconDo you offer your service in every country?question icon

We offer our service in as many countries as possible but reserve the right to not offer services to nationals or residents of countries which have laws in place that restrict cryptocurrency transactions or the use of cryptocurrency in general.

question iconCan I have more than one account?question icon

Our policy is strictly one account per person. Attempts to circumvent this will result in one or all of your accounts being suspended.


question iconHow can I transfer my Bitcoin? question icon

Click on Withdraw on the left-hand side menu. Enter the amount of BTC you’d like to transfer, and enter the correct destination Bitcoin address. Then click on Transfer Now to process the transfer.

question iconHow long does it take Instacoins to send my Bitcoin?question icon

Bitcoin is generally sent within approximately 15 minutes from the moment you make a withdrawal. This can sometimes take longer, depending on network congestion.

question iconCan I change or edit my transfer instructions? question icon

Unfortunately, once you have authorized a Bitcoin transfer your instructions cannot be edited, stopped or deleted.

question iconI have transferred the funds to the wrong Bitcoin address. What now?question icon

Entering the correct Bitcoin address is your sole responsibility. If you know the owner of that address you can try and get in touch to see if you can recover the funds.

Please consult our full Terms of Use for more information.

question iconWhy is my Available Balance 0? I have been charged.question icon

“Available Balance” is your Balance less any transfers which are in process or pending authorisation. You likely have one or more pending transfers that you need to authorise or cancel. To authorise or cancel pending transfers, click on Transaction History from the menu bar, and check if you have any transfers which need your authorisation.

To send your Bitcoin, click on the green Transfer ID. On the next screen, click Authorise to send the Bitcoin to the specified address, or click Cancel if you’d like to send the Bitcoin elsewhere or later. When you cancel a transfer, the corresponding Bitcoin amount is added back to your available balance

If you have multiple transfers which are pending authorisation and you’re unsure which you should be authorising, feel free to cancel them and instruct a transfer yourself for the correct amount and the correct Bitcoin address. Follow the instructions above to cancel pending transfers and please allow up to 10 minutes for any balances to update.

question iconHow do I make sure the Bitcoin I sent have arrived at the destination? question icon

To make sure it has been sent and delivered, you can locate your transaction on a blockchain explorer. Click on Transaction History on the left-hand side menu, then click on the Recipient Wallet or Transaction Hash values to follow a link to a blockchain explorer.

If the transaction is Confirmed, the Bitcoin has been sent and received successfully.


question iconHow many transactions can I make? question icon

The maximum number of successful card transactions will depend on the level of due diligence documentation provided. Generally, you can make up to 5 transactions a day and up to 30 transactions a month.

Bitcoin transfers are also unlimited.

question iconWhat happens if I hit my limits? question icon

Depending on which limits you are hitting, you may need to wait for a few hours or days to process a new transaction.

Speak to our support team to have your limits raised if you find the limits are too restrictive for you.

question iconHow do I increase my limits?question icon

We will require some additional information and/or documentation about you and your account. Speak to our support team to have your account reviewed or for more information.

After any additional information and/or documentation is collected, an account review will be carried out. We aim to give you a reply within 24 hours, but please allow for a maximum of 72 hours for the account to be reviewed.

question iconWhat’s the minimum amount I can buy or transfer? question icon

The minimum fiat amount you can buy varies depending on the currency and the payment method you choose:


The minimum crypto amount you can transfer is BTC 0.0002.

Wires for less than the minimum amount will incur an administrative fee.

“Other” methods include cards, Revolut, Wise, Skrill and Neteller.

question iconWhat’s the maximum amount I can buy or transfer? question icon

Your card/e-wallet limits will depend on the level of due diligence documentation provided. You can check your card limits by clicking on “Your Limits” on the left-hand side menu. We do not impose a maximum for Revolut, Wise, or bank transfers. However, larger amounts might require additional documentation for the Bitcoin equivalent to be released.

There is also no maximum for transferring your crypto.

Payment Methods

question iconWhat is Open Banking? question icon

OpenBanking is a system where banks securely share customers’ payment data with third-party applications. This data sharing enables third-party merchants, such as Instacoins, to offer lightning-fast Bitcoin purchasing experiences via digital bank giants Revolut and Wise. OpenBanking not only makes purchasing Bitcoin on Instacoins a breeze with instant delivery, but also helps you save money! Paying with Revolut and Wise means you avoid international transaction fees on your cards and bank wire fees, making the most out of your money.

question iconIs Open Banking safe?question icon

Open Banking protocols are heavily regulated and are subject to strict regulations and security standards to protect customer data. Banks and third-party providers are required to comply with data protection laws, and they implement robust security measures, such as encryption and multi-factor authentication, to safeguard data during transmission and storage.

Additionally, Open Banking operates on explicit customer consent. You have full control over which data is shared and with whom. Access to your financial data is only granted to authorized third-party applications after your explicit approval, and you can revoke access at any time. Any and all financial data is encrypted during transmission between banks and third-party applications. This encryption ensures that even if intercepted, the data remains unreadable and protected.

Finally, Instacoins only works with well-established and reputable third-party providers that comply with industry standards and have a track record of implementing strong security practices. Our Open banking network includes Revolut and Wise, which each have their own built-in fraud protection mechanisms.

question iconCan I use multiple Revolut or Wise accounts?question icon

Use as many accounts as you like! We don’t limit the number of Revolut or Wise accounts you can use on Instacoins.

question iconWhat's an IBAN?question icon

An IBAN (International Bank Account Number) is a standardized code used internationally to identify a specific bank account. It helps ensure accurate and efficient cross-border transactions by providing a unique identifier for each account.

The IBAN typically consists of a country code, two check digits, and the recipient’s domestic bank account number. The format varies slightly from country to country, but a general example looks like this:

Country Code (2 letters) – Check Digits (2 numbers) – Bank Account Number (up to 30 characters)

You can visit this website to check if your IBAN is formatted correctly.

question iconHow long does a bank transfer take? question icon

Bank transfers could reach us on the same day you make the transfer, although it generally takes between 1 to 3 days for the money to reach us. Your bank’s processing time, and the date and time you made the transfer may have an impact on the transfer time.

If you’ve sent us funds but have not heard from us or we haven’t released any Bitcoin to you after 7 days please get in touch with our support team.

Please provide proof of payment, and ask your bank for an IMAD number so we can investigate further.

question iconWhere are your latest bank details?question icon

Once you select Wire Transfer as a payment method on Instacoins, we provide you with the latest banking details in full, on-screen.

question iconWhy is my Skrill/Neteller refund for less than what I've paid? question icon

You have been refunded because there was a mismatch between the personal information on your Skrill/Neteller account and that on your Instacoins account, making this payment a 3rd party payment.

Returns of 3rd payments made via Skrill/Neteller are subject to a processing fee. Please note Skrill/Neteller is not available for customers in the USA.

Please check our Terms and Conditions and Refund Policy for more details.

question iconHow do I make a SEPA or International/SWIFT bank transfer? question icon

It’s likely that some of the bank details you inputted are incorrect, missing, or perhaps they haven’t been recognized by your bank. Watch our bank wire tutorials for more info on what could be the issue.

SEPA/SWIFT International Tutorial:

question iconWhy is my card transaction getting declined?question icon

In most cases, your bank is being a bit too conservative and is blocking the transaction from going through. Try a smaller amount, such as EUR/USD/GBP 100 first. If that doesn’t help we highly recommend you get in touch with your bank and ask them to allow purchases on to go through.

It’s also very useful to make sure that your postcode/ZIP code is correctly listed on your account profile. It will help your bank to classify your transaction as legitimate, and it won’t be labeled as potentially fraudulent activity.

Speak to one of our agents over live chat to get more information on why this may be happening. Alternatively, send us an email on and include all relevant information and/or screenshots.

We’ve got a blog post about this here, or you can watch here this helpful video.

question iconCan I make a USD Bank Transfer? question icon

Yes, we accept bank transfers in USD! Speak to our support team to get more details about this.

question iconHow do I use Revolut or Wise to purchase Bitcoin? question icon

Our Open Banking integration allows you to purchase Bitcoin via Revolut or Wise with only a few clicks, and delivery of Bitcoin is instant!

We have created step-by-step tutorials for you which will cover all you need to know about purchases via Revolut and Wise.

Buy Bitcoin with Revolut QR Code Authorisation (recommended) Direct Authorisation . Buy Bitcoin with Wise QR Code Authorisation (recommended) Direct Authorisation

I want to pay with Revolut/Wise, but I don't have any EUR. No EUR, no problem! You can take advantage of the incredibly competitive foreign exchange fees and rates charged by Revolut and Wise and convert your local currency to EUR in a matter of seconds.

In fact, we’ve got you covered with a couple of video tutorials with step-by-step instructions on how to do this!

Convert to EUR using Revolut:

Convert to EUR using Wise:

Once you have EUR in your Revolut or Wise account you can buy Bitcoin on Instacoins in seconds!


question iconWhy must I submit ID proof?question icon

As part of our anti-money laundering requirements, each person who uses our services must undergo identity verification.

You may be required additional forms of documentation as part of our ongoing anti-money laundering efforts.

question iconWhat forms of identification are acceptable?question icon

A Passport, Driver’s Licence, or National Identity card (both sides) are acceptable forms of photo identification. Other forms may be accepted, provided that they show your photo and are government-issued. The document must show your date of birth and a valid expiry date.

question iconWhat types of address documents are acceptable? question icon

In the event we require you to submit proof of address, we primarily accept bank or credit card statements or utility bills (gas, water, electricity, fixed line telephone). We encourage you to blank out sensitive information on financial documents such as the first few digits of your account or digits 7 thru 12 of your credit card number.

Please note that the submitted document must be in your name and dated within the past three months (90 days).

question iconWhy is the KYC process taking so long?question icon

We aim to process most KYC applications within 5 to 10 minutes. Occasionally some applications may take some time to be approved. If it seems like the KYC pages are taking a lot of time to load, try refreshing your browser.

If that doesn’t help, and the process is taking longer than 15 minutes please speak to one of our support agents.

Applicants are reminded to submit clear and valid identification documents to help smoothen the process.

question iconWhat's a Selfie ID? question icon

At times we may require you to take a selfie with your ID for identity verification purposes. To take a good Selfie ID, please follow the following steps:

  • Make sure you are in a room with ample light
  • Select the best available photo quality for your device
  • Hold up your ID document close your face
  • Make sure both your face and your ID are clear enough before sending

It’s important to avoid covering up any information on the ID document, as this will render the Selfie ID invalid.