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Here is everything you need to know
What does FlashFX do?
We are an international money transfer service specialising in converting AUD to 17 other currencies and vice-versa. Many of the most popular crypto exchanges are outside of Australia, so for many Australians the biggest obstacle to investing in digital coins is the lag time and costs associated with transferring your AUD offshore.
As some cryptocurrency exchanges only US dollars as payment, FlashFX can help with converting your AUD to USD in real time. When you want to bring your money back, we can also ensure the conversion happens at speed and with a competitive rate.
We support direct transfers to Bitstamp, which accepts USD IOUs.
FlashFX was built to facilitate the secure and efficient transfer of fiat-to-fiat currencies across borders. Because many crypto exchanges only accept deposits in XRP or other altcoins FlashFX’s model cannot be applied in the same way to all crypto brokers or trading platforms.
Why should I use FlashFX for my crypto trading?
For Australians who want to fund their crypto currency accounts on Bitstamp the process of converting AUD to USD can be extremely costly, not to mention time consuming. Banks typically charge a large margin on foreign exchange conversion rates, in addition to international transfer fees. Processing times can take days. For cryptocurrency investors, time and price are of the essence.
FlashFX can save you time and money by guaranteeing a competitive exchange rate and, most importantly, instant transfers to your crypto account.
How does the transfer process work?
Typically, the process of sending funds to your Bitstamp account will begin by you depositing AUD into your FlashFX account via a local bank transfer. When we receive the money, it will be converted from AUD to USD at an exchange rate that you agree to. Once the funds are converted, we then deliver them immediately to your Bitstamp wallet and notify you via email or chat.
For a step-by-step guide to transfer in or out of the cryptocurrency exchanges please refer to our Bitstamp guide.
FlashFX’s services are built on blockchain technology, which allows us to transfer your money in real-time. The specific blockchain infrastructure that FlashFX uses is called Ripple, which is an open payments network within which currencies are transferred.
Can I use FlashFX to transfer USD from one crypto exchange to another?
FlashFX is not set up as a trading platform; we are focused on the conversion to and from AUD. Our model is not designed to facilitate USD to USD transfers and that is something best done on the exchanges.
How do I buy XRP using FlashFX?
Ripple's website lists all of the exchanges where XRP is available for direct purchase. Bitstamp is among the exchanges listed.
To purchase XRP directly Bitstamp requires either USD, EUR or other altcoins like Bitcoin (BTC) or Ethereum (ETH). The exchange does not accept AUD for XRP.
FlashFX can facilitate the fast conversion and transfer of AUD from your bank account to USD. We then initiate a real-time transfer of those USDs directly to your Bitstamp wallet. From there, you are able to purchase XRP directly.
Can FlashFX help get my money off the exchange and into my bank account?
Yes. We can convert your USD to AUD and deposit into your Australian bank account. See the steps to transfer in or out of the cryptocurrency exchanges by referring to either the Bitstamp guide.
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